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Hunting for Housing

6 Reasons Why December is a Good Month to Buy a Home

December 11, 2020 by Karen Liester Leave a Comment

Most people cringe at the thought of buying a home in December. Only the Grinch would want to pack up and moving during the holiday season! But hold on Cindy Lou Hoo, there are several reasons December can be a great time to buy.

1. Sellers are highly motivated. 

People who are listing their homes in December are usually on a timeline. They may be relocating for work, wanting to move over the school break, or need to sell their home before the end of the year.

2. You have less competition. 

Listings do go down in December, but many buyers also take a break during the holiday season. So while the overall number of homes available might be lower, you also have less competition looking.

3. You can get a better price.

Motivated sellers and fewer lookers means you can make a better deal. If your seller needs to make a move before the end of the year, they will be willing to work with you on all other terms besides closing date.

4. Rates are staying low.

Mortgage rates are forecast to remain low through the end of this year, and into 2021, so it’s a good time to buy.

5. Take advantage of tax benefits.

If you close on your home purchase by December 31st, you can take tax deductions for mortgage interest, loan points, and property taxes.

6. Schedules are more flexible.

You might think December is too busy a month for moving, but most people tend to have more flexible schedules in December. Children’s activities are suspended, work schedules are more lax, for both you, your sellers, as well as your lender, home inspector, and moving companies, so scheduling all the parts of your transaction and move may actually become easier.

I’d love to help you find your next home.

Let’s make your holiday wishes come true!

Filed Under: Hunting for Housing, Uncategorized Tagged With: Buyer, Buying a Home

Why the Zestimate is broken

February 11, 2019 by Karen Liester Leave a Comment

Things I trust more than any automated valuation model:

  1. Gas Station Sushi
  2. An elevator ride with Ray Rice
  3. Bill Cosby as a bartender
  4. A seasick crocodile
  5. A prostate exam by Captain Hook
  6. 3M Strips on a freshly painted wall…

One of the greatest evolutions in real estate in the last decade has has been the power of the internet. With countless sources of information available at the click of a button, it’s no wonder more than 90 percent of home buyers begin their home search there. It’s fast, user-friendly, portable, and available 24-7!


A lot of home buyers say that they begin their search on large internet platforms like Zillow, Trulia, or Realtor.com. Many of these sites offer what is called an “automated valuation model” -AVM for short- that will offer their prediction of the current market value for many homes. Zillow has dubbed their AVM the “Zestimate” and it is seen on almost every property that is listed in the state of Idaho. Now, to their credit, they have done an amazing job creating technology, utilizing complicated prediction algorithms, and have an ever-growing brand awareness with consumers. However, there is one thing that they do fall short on: accuracy.

Now, I do want to clarify that I cannot attest to the AVM accuracy in other states, but here in The Gem State, they seem to fall short on both accuracy and consistency, and there IS a reason why.

As a real estate agent, one of the most difficult tasks I face, is pricing a home. It is not a task I take lightly when there is so much at stake, for both buyers and sellers! The market is ever-fluid, and pressure can change from week to week, or even from subdivision to subdivision. Motivation, condition of the property, available inventory are all factors that must be considered when pricing a home. Poor curb appeal, or a newly remodeled kitchen are simply not things that can be valued through automation.

The state of Idaho is what is considered a non-disclosure state. We are one of only twelve states that are considered non-disclosure, where transaction sale prices are not available to the public. Not even the county records the sales price of homes. The only place that sales prices are recorded are in a private version of the MLS that is available only to realtors and appraisers. Without having access to final sales prices of homes, even Zillow admits that the information is sketchy at best. “Since we rely on public county records as our primary data source driving our Zestimate algorithms (which take comparable sales prices into account), it poses a challenge to calculate accurate Zestimates when sale prices are not available.” (Taken directly from their webpage). Furthermore, they can rate (by state) how accurate the information they have access to is in determining a home’s value, and Idaho is ranked as the lowest level for accuracy.

 

How does an inaccurate estimate affect me?

As a seller: Whether a Zestimate, or any AVM, is off of the current market value of your home, you will be affected by it. It may seem obvious that having a zestimate listed for your home at $322,000 while it is actively being marketed at $350,000 may be detrimental to your selling success. Buyers tend to believe the estimate and assume you have overpriced your home and may even chose not to see the home in person. They don’t want to make a purchase that could cause them to overpay, or be upside down immediately upon moving into your home.  Some buyers will go into negotiations feeling confident you should take a lower price, thus beginning the emotional roller coaster of low-bid offers. However, have you considered how an over-priced estimate may affect you as a seller as well? As consumers, we go into a “bargain mentality” when we view that something is a “steal”. Homebuyers have called me and asked if I think a particular seller would take an even lower price since the estimate indicates this seller is already motivated! Think of the phrase, “It never hurts to ask…”. Other buyers, however, may wonder what is wrong with the property? Why are the sellers are giving away so much equity? There must be something wrong with it…

As a buyer: Counting on the information that is provided by the automated systems is not the most wise way to go into making one of the biggest investments of your life. Emotions can be stirred in many directions based on the information you are seeing about perceived value on a home. A home that looks under-priced may cause you to act rashly, and proceed without due consideration. Offers are written, inspections avoided, and timelines rushed so as not to miss this “amazing opportunity”. Inversely, the perception a home’s price has been inflated may also cause you to proceed emotionally. “They’ll never get that!” or “I’d never pay that, it’s clearly $28,000 high!” Either of these responses may just cost you your dream home! Bottom line: do not feel overly confident about a potential price you would offer to a seller until you have talked with an agent about the home’s value.

Only a Realtor

Don’t be fooled into thinking access to a mountains of information is the same thing as access to accurate information. Reliable sold data, active and pending inventory, and a deep insight of neighborhood trends is the only way to get an accurate reading on a homes value. Additionally, having a (real, live) person that has seen (and sometimes more importantly, smelled) the home is far superior to questionable and antiquated date being fed to and interpreted by a computer! You deserve to know that what you are paying for a home is fair. Contact a realtor (me!) to make sure you have someone in your corner, invested in your interests with access to correct information. You simply cannot beat this expertise!

Filed Under: Hunting for Housing, Real Estate, Staging + Selling, Uncategorized

10 Reasons To Buy New Construction

February 5, 2019 by Karen Liester Leave a Comment

 

You walk into a new construction community and you are immediately overwhelmed with excitement and possibility. You explore the community and everything checks out. The house is exactly what you’ve wanted, the curb appeal is charming, and the smiling salesperson is so friendly. Everything just seems right.


Here are the top 10 reasons to buy new construction:

1) CUSTOM DESIGN

As a Realtor, I show a lot of homes to potential buyers. Even when the buyer absolutely loves the home, there is always something that they would change. They may not like the color of the carpet, backsplash, or walls. I always tell my clients, don’t throw good money at bad design.

When you build a new home, you can build it the way that you want it. This is probably the most attractive reason to buy a new home.

 

2) FUNCTIONAL FLOORPLANS

When I show homes to people, sometimes they have very specific requirements. However, over time, I’ve learned that their specific requirements are actually very common. For instance, when I help buyers that are downsizing, all of them one a single story. When I help growing families, many of them want a bedroom on the first floor, in order to take care of an aging parent. I’ve also noticed that parents with small children always want at least one bathtub in the home (and preferably on the same level as the majority of the bedrooms). And everyone who cooks, wants an open kitchen where they can be with their friends and family while taking care of meals.

When buying new construction, you can make all of this possible. If you want a main level master bedroom, with a fireplace, and a his and hers walk-in closet… You can have it!

 

3) HOME WARRANTIES

When you buy a resale home, things do break down. When you buy a new home, not only is everything brand new, it’s all under warranty. (The state of Idaho requires contractors to carry a 1 year warranty on new construction homes). So you have peace of mind and low maintenance fees.

 

4) ENERGY EFFICIENCY

Homes built these days are constructed with energy bills in mind. Many of them are built with Energy Star products, double pained windows, and spray foam insulation. All of these will save you thousands in utility bills down the road. (Hello Nest thermostat!)

 

5) HIGHER INDOOR AIR QUALITY

Homes built today must meet stringent ventilation requirements. So they end up being more energy efficient, but also safer. The indoor air quality is much higher, so the production of airborne allergens is lower.

 

6) BETTER TECHNOLOGY

Today, homes are built with the most cutting-edge technology around. This includes in the home as well as even in the walls of the home! Better technology means more precise measurements and architecture — both of which contribute to less maintenance down the road. Better technology can also benefit you by providing better finishes, smarter appliances, floors and countertops that won’t scratch!

 

7) COMMUNITY AMENITIES

If you’re looking at a home in a community, some new home communities have lots of amenities to offer. They include everything from playgrounds to pools. New homes also tend to include Homeowner’s Associations (HOA’s) — And although some of these associations come at a monthly fee, you can ensure that your community stays beautiful for years to come and that your home’s value stays on the rise. (Click here to read 7 Ways To Tell If You’re Buying A Home In A Good Homeowner’s Association).

 

8) INCREASED SAFETY

A new home community is often gated, but safety features come with the house as well. For instance, many new homes come readily equipped with (or are wired for) alarm systems. They also have infrared garage door openers that stop when a tricycle is nearby. Some new homes also have state of the art air coolants, which means higher air quality for your family.

 

9) AVAILABLE INVENTORY

We are experiencing a shortage of homes right now. People are living longer and downsizing buyers are opting for aging in place solutions. This means that millennials and first time home buyers have fewer choices when it comes to buying a home. Buying a new home in Southeast Idaho offers a viable solution to our housing problem — especially because we have lots of land available to build on still and home prices are still affordable. You sometimes have to be patient when looking for those lots, but they’re available, I can help you find them!

 

10) THE NEW HOME FEEL

One of the most attractive features of buying a new home is that it’s yours, and only yours. No one else has lived there before you, cooked on your stove, or slept in your bedroom. Understandably, that new home feel appeals to a lot of people!

 

 

WHAT IS A REALTOR’S ROLE WHEN YOU’RE BUYING NEW CONSTRUCTION FROM A BUILDER?

A buyer’s agent’s primary responsibility is to protect the buyer’s interests. Contrarily, a builder representative’s primary responsibility is to protect the builder’s interests. You can immediately start to see how these two responsibilities are diametrically opposed. There’s no way that the builder (or his representative) can represent you and the builder simultaneously.

Will they make sure to negotiate a deal where everyone wins? Sure. Will they abide by all of the laws and ethically during the home buying process? Most of the time, yes. But that doesn’t mean that they will fight on your behalf to protect you. It’s impossible as long as they are wearing the builder’s name tag and cashing the builder’s paychecks. It’s not personal, it’s just business.

 

WHAT ARE THE ADVANTAGES OF USING A REALTOR WHEN BUYING A NEW HOME FROM A BUILDER?

First, there is absolutely no cost to you whatsoever when you use a Realtor, so this is the primary advantage of using one. This is because the Realtor is paid a finder’s fee whenever the Realtor successfully introduces and matches a buyer with a new home. This finder’s fee is a commission that most builders will gladly pay because the Realtor found a buyer for one of their homes. Since there is no cost to the buyer at all, it would only make sense that you use a Realtor during the new home purchase.

Second, the Realtor will make sure that all of your interests are protected. The Realtor will do a market analysis on the home to make sure that you are not overpaying for the area. By the time you add on all the upgrades, you could be the highest priced home in the community and that is never a benefit when you need to sell the home down the road. Either way-it’s at the very least, a good thing to know!

Third, the Realtor also knows the area and can tell you if you if there are pitfalls coming down the road. For instance:

  1. Is the builder also planning to build a mall as an attraction across the street?
  2. Is the density of the housing to high, which has a significant impact on the demographics of the community?
  3. Are there Homeowner Associations (HOA) fees?
  4. What are the Covenants, Conditions, and Restrictions (CC&Rs’)?
  5. Are there special assessment taxes — to build new parks, schools, and roads — that the builder is now passing on to you.  (Think of the City of Ammon’s Fiber Optic plan) . They will either absorb them or pass them on. Which scenario do you think happens more often?

Fourth, the real estate agent will guide you through the processes — such as the contract, the construction, inspections, the final walkthrough, and closing. The agent will be able to help you when things go awry, and it’s construction, so they often do. Unfortunately, many of the builder sales representatives are not licensed agents, so when something goes wrong, you are literally subjected to the builder and have no one on your side to protect you, advocate for you, or advise you. Since real estate agents help people buy and sell homes every day, they can foresee and protect you from these situations even before they arise.

Hope these tips help! Did you buy a new construction home?

+kl

 

Filed Under: Hunting for Housing, Real Estate

7 Ways to Tell if You’re Buying a Home in a Good Homeowner’s Association

January 29, 2019 by Karen Liester Leave a Comment

 

HOA NEIGHBORHOODS

Buying a home could mean dealing with a homeowners’ association. HOA’s manage, maintain, and regulate everything that is outside of the home — such as the structure of the building, the common areas, the landscaping, and the any community areas (like a swimming pool or clubhouse, etc).

The Homeowners pay for these services in the form of monthly HOA fees. Payment and membership of the HOA is usually mandatory for as long as you own a home in the subdivision. But unlike the membership of other community organizations, you can’t resign if you’re unhappy with the way the organization is run.

This begs the question, how can you tell if the HOA is doing a good job? If your HOA displays these seven characteristics, it probably makes the grade…

 

1) CLEAR GOALS AND VISION

Some HOA leaders believe that their only job is to maintain the community facilities. And for some communities, this may be an adequate goal. However, some homeowners look to the HOA to enhance the value of their homes, and therefore want clearer, more aspirational goals — which could really make a difference in the value and visual appeal of the community.

So ask the HOA board a few pertinent questions:

  • Do they think the community facilities should be limited to what already exists, or are they making a conscious effort to improve and upgrade them?
  • Do they hold homeowners to high standards regarding the use and appearance of their private property, or do they let violations pass?

If you’re a homebuyer, buying into a community whose HOA matches your own ideals and aspirations will save a lot of headaches down the road.

 

2) CLEAR HOUSE RULES

The Covenants, Conditions, and Restrictions (CC&R’s) set out everything a homeowner can and cannot do within that community. Unfortunately, CC&R’s are useless if the HOA board interprets the rules loosely or enforces them in a haphazard way.

The best boards run structured, business-like meetings that give transparency to every decision the board makes. If the board has and uses House rules, there’s a fairly good chance that the CC&R will be applied objectively and fairly throughout the community.

It may be good to also know if there is a Building Committee, and who runs that committee. Typically the building committee is appointed to approve any new structures being built within the community (think shops/sheds), and what rules or CCR’s are the biggest no-no’s for new structures to be approved.

 

3) GOOD PROCEDURES FOR SAFEGUARDING MONEY

Homeowners’ associations are at high risk when it comes to losing their money. There are two reasons for this:

  1. HOA’s are volunteer organizations that may not receive financial training, and
  2. HOA’s usually have large sums of money in their bank accounts

The best HOA’s put checks and balances in place to safeguard against the risk of financial mismanagement. They employ a second set of eyes – someone not on the board – to collect the dues, pay the bills, and review checks and invoices to make sure the HOAs financial affairs are in good order. Often the second pair of eyes is a professional property manager.

 

4) FUNDS SET ASIDE FOR A RAINY DAY

Nothing creates greater conflict in a community than a large special assessment. Who wants to be hit with an unexpected bill for several thousand dollars because the clubhouse roof has fallen in? A well-run HOA commissions ongoing reserve studies to identify how much money is needed to meet repair and replacement costs over the long-term. A sufficient amount should be set aside from periodic dues to meet these repair costs when they arise. Ask to see the reserve studies and read the HOA’s financial statements. By comparing the reserve fund with the amount recommended in the reserve study, you can tell whether the HOA has enough money set aside for major repairs.

 

5) HOMEOWNERS CAN CHALLENGE POLICY

HOAs are responsible for drafting the CC&R document and the various policies that govern the community. If those policies are severe, homeowners may be in for a rough ride. Check that the HOA has a forum for hearing homeowner complaints and a history of acting on the wishes of the majority of homeowners. The HOA’s governing documents should also allow for the removal of a renegade board member, usually by board or community vote.

 

6) GOOD COMMUNICATION

This is your community and you have every right to know what’s going on in it. Do your research. Figure out how the HOA board communicates with homeowners. The options are numerous and include newsletters, websites, annual reports and e-mails. Check for flyers advertising community meetings. If homeowners are invited to attend committee meetings, it’s a good sign that their input is heard and valued. Better yet-volunteer to be on the committee when the openings arise. Good communities are ones filled with good people that can operate with the best interests of the neighborhood in mind.

 

7) THE COMMUNITY LOOKS GOOD

If the community looks good, it usually means that something positive has impacted the community. Of course, the opposite is also true. If you’re thinking about buying into a community, take an objective look at its appearance. Is the structure of the building in good repair? Are the trees pruned, the beds weeded and the landscaping well maintained? Is the pool clean? Are any of the homes in the community eyesores? Your answers to these questions reflect on whether the HOA is performing its duties properly and requiring homeowners to do the same. The proof, as they say, is in the pudding.

 

Do you live in a neighborhood with a HOA? What do you love about it? What do you hate about it?

+kl

 

Filed Under: Hunting for Housing, Real Estate

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@karenliester on Instagram

Some days-this is my office...but not often! I hav Some days-this is my office...but not often! I have been able to work from the office for most of the year, but when the kiddos moved to virtual learning last spring, I had to adapt to sharing a workspace with them at home.
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I want to know! Is this YOU? Have you been working from home for months now (with little ones, furry ones, or both scurrying underfoot)?
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If you've mastered the dining table office space, what ONE piece of advice would you share with a work-from-home newbie?
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Please! Share your wisdom in the comments below so we can make the best of what seems to be an ever-changing situation!
Is everyone done decking the halls??? . Right now Is everyone done decking the halls???
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Right now I’m resisting the urge to keep decorating knowing it will all be down in a week or so!
Here's a link to the @airbnb I posted about in my Here's a link to the @airbnb I posted about in my stories today.
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https://abnb.me/VTE0JJTukcb
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Or you can search AirBNB (Idaho Falls) for "The Historic Emerson"
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❤❤❤
Give the spankin’ new homeowners in your life a Give the spankin’ new homeowners in your life a housewarming gift they’ll use from day one!  Here are my top 10 to get the ideas flowing:
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▪️Gift cards to home improvement stores (things like rakes, garbage cans and light bulbs are usually in short supply for a first time home buyer especially!)
▪️Gift cards to local takeout and pizza places (with a stack of paper plates to go with it!) I’m looking at you @lucysnypizza 
▪️A personalized welcome mat (have you seen @letterfolk mats? They’re a fave!)
▪️Customized stationary, address labels, wall plaques, etc. (@etsy has you covered here!)
▪️A pizza baking stone and a @papamurphys gift card (check out @bedbathandbeyond for a great stone)
▪️A WiFi password display sign
▪️A photog session for them to pose in front of their new front door (DM @meganowensphotography, she’s amazing 🙌🏻)
▪️Local goodies for out-of-staters (I love @farrsicecream spud bars or huckleberry candy, or @reeds_dairy cheese curds and ice cream!)
▪️Hand wash and lotion set (perfect for the rona + house guest + flu combo season we’re in)
▪️A “new home” holiday ornament (I got the cutest one from @magnolia)
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New homeowners, we celebrate you-enjoy your first Christmas in your new home!
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What’s the best housewarming gift you’ve received???
This has been long past due. It’s time to announ This has been long past due. It’s time to announce the employee of the month. 
🥁🥁🥁
#Hamilton 🎉
This guy-he hasn’t sold any houses that I know of, but man, his dedication to his work is simply unmatched! (As long as his work includes sleeping 21 hours a day!)
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We 🖤 you sweet boy! You earned it!! 😘
#Hamilton #Trashpanda
🍊🍊🍊For a quick little Saturday afternoon 🍊🍊🍊For a quick little Saturday afternoon project, this one sure packed a punch! 🍊🍊🍊
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I can’t help but smile everytime I pass my little pantry. Small spaces are often overlooked, but @urbanwalls was the perfect solution to this easy DIY #transformation, and I’m 100% convinced anyone with a pair of scissors and a stool could knock a project like this outta the park!
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If you find yourself in the .0003% of people that don’t own scissors-I’ll hook you up! 😉
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Even better-if you go to start your project this weekend and realize you just need a bigger pantry-I can definitely help you there as well! 🏡
😍Feeling sentimental and reflective? Me, too!⁣
⁣.
I look back and before I castigate the year as a total loss, I actually find myself finding so many reasons to be infinitely grateful.
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I have learned so much, and for the first time in a long time-actually took some time to just...pause. It felt like letting out a long overdue exhale.
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This somehow allowed important things to rise to the surface. Really important things!
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Before diving headfirst into 2021, I hope you’ll join me in taking time to reflect on 2020—we’ll never have another one like it! What did you love? What was hard? What did you accomplish? What will be better about 2021 for you and yours?!
There’s a humbug-of-a-myth out there that you ha There’s a humbug-of-a-myth out there that you have to wait until spring to sell; that no one is looking to buy in December or January. Nothing could be further from the truth—buyers are out there 24/7/365!⁣⁣⁣
⁣⁣⁣
Here are 5 very merry reasons to sell your home this winter:⁣⁣⁣
⁣⁣⁣
1. You’ll face less competition.⁣⁣⁣
2. You’ll get more attention from buyers’ agents⁣⁣⁣
3. Buyers are more serious.⁣⁣⁣
4. Your home already looks its best.⁣⁣⁣
5. You’ll enjoy a quicker sales process.⁣⁣⁣
⁣⁣⁣
Internet searches for “buying a home” peak in the winter months so if you’re thinking of selling, don’t wait. Need an experienced realtor who knows our area to help? Send me a message and let’s chat.

#idahofalls #idahofallsrealtor  #idahofallsrealestate #idahofallshomesforsale #loveitorlistit #eastidaho #eastidahohomes #eastidahohome #idahome #ilovemyidahome #sellersmarket
We're heading into the final week of October (my f We're heading into the final week of October (my favorite month of the year), and then winter will be upon us. This week is full of spooky haunted events and attractions, and if you haven't tracked down a costume yet-this is the last weekend to find one before Halloween. If you just find yourself out and about, you MUST find your way over to White Sparrow Country store in Rexburg. It's the sweetest little spot full of southern fried pies, ice cream, penny candy and home décor! Have a great week East Idaho-and make sure to STAY (safe) + WANDER!
Let's get spooky! If you found out that a recent d Let's get spooky! If you found out that a recent death occurred in your dream home, would you still buy it?
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