Are you considering buying a home for the first time, but everyone around you is telling you to wait? Between the economy, housing inventory, and interest rates; things might look bleak in the housing market right now. Let me give you some good news; if you can afford it, you don’t have to wait!

I just closed escrow with a first-time home-buying couple, and they had been told by all their friends that now was absolutely not a good time to buy a home. I told them to tell their friends that they bought one because they could afford it! If your finances are secure, there’s never a bad time to buy a house. You can always refinance, and it’s far better to build equity in your own home than rent for years. My husband and I bought our first house at around a 10.5% interest rate, that’s where we first got our start, and I’m so glad we jumped in and did that. Right now, everyone believes that around 6% is the lowest that the interest rate is going to go, so if you can swing it, buy the house! Marry the house but date the rate.

We here at TVPM and RE hope you all have a happy Thanksgiving with your family and friends, and that you don’t let the naysayers ruin a good time (or your home-buying plans!). Please let us know if you have any questions or concerns about the real estate market, we’re always happy to help!

-Val Gray

As a new home buyer, you might have no idea about the incentives that you can get from buying different types of houses in your area. Here in the Treasure Valley, there are builders with brand new homes ready to sell with great offers that would benefit any new buyer. Low interest rates, covered closing costs, special offers, move-in-ready homes, and more may be enough to convince you to work with a builder instead of a previous home owner. You won’t want to do this, however, without taking on your own agent, or you will lack representation in your purchase.

Some other things you might see on an offer from a builder could be discounted upgrades on cosmetics such as flooring or counter tops, They may be able to offer to cover escrow closing costs, reduced mortgage rates, or different finance options that you might not be able to get buying an established home from a home owner. Builders put a lot of time, effort, and money into building their homes and want to sell at a profit, but if they don’t sell them at all then they won’t make a profit, so it’s worth it for them to offer benefits to their potential buyers.

Currently, new builds are outpacing resale homes in the Treasure Valley real estate market because resale can’t compete with $25,000 put down on your down payment or interest rate, or all the other benefits builders can offer. However, there are a few cons to buying new builds: you may have limited options for the cosmetic design of the home, you can be asked to use the builder’s affiliated lenders, or there may be other caveats to the benefits you are offered. Ultimately, it’s up to you to decide if the incentives are worth your money, and we at TVPM and RE are happy to answer any questions you might have on this topic!

Many people are concerned about the federal reserve meeting happening in just a few days here in the middle of September; home buyers, home sellers, and agents alike are eager to see if a rate cut announcement will be made or not. If you are considering buying or selling a home soon, you need to know what this means for your decision and how you can go about making the best choice for your future.

The federal reserve affects the interest rates in America because if the Federal Reserve decides to raise the rate, banks across the nation will have to change their lending rates to make up for the funds they will have to borrow from the Reserve. However, while short-term interest rates are directly affected by the fed’s announcement, mortgage rates are long-term and are linked to Treasury yields which are based on future expectations of our economy. As a result, mortgage rates are shifting no matter what the federal reserve announces, although the federal reserve’s actions to play into the long-term economy so it does change mortgage rates eventually.

Interest rates have dropped in the past few weeks, because mortgage lenders are anticipating Federal Reserve cuts, so they’ve preemptively dropped their rates to keep up with competition. The interest rates have also been dropping due to recent economic reports that show that the job market is poor right now, few jobs have been hiring and fewer people have been applying. That report in turn influences the bond market as well as the interest rates, since a poor economy with few job opportunities may cause the Federal Reserve to make cuts to help stabilize and stimulate the economic growth in our nation.

Ultimately, interest rates are always fluctuating, and if now is when you want to buy a home, you should buy one now! Always take your time and ensure that your finances are ready for home ownership, but don’t forget that you date the rate, marry the home. Please reach out to us if you have any questions, we at TVPM and RE are happy to help you achieve your home-owning dreams.

It’s summer in the Treasure Valley in Idaho: we’re hot, sweaty, and being hit with unpredictable weather swings, but there’s the promise of cooler days in just a few more weeks. This summer, for the first time in many years, we have what is called a balanced market. Both buyers and sellers have the power to negotiate due to the supply of homes starting to meet the demand. People aren’t frantically swarming to grab the few homes available and can take their time and make wise choices with their finances.

The market isn’t a true buyer’s market, but it does feel like it at times, mostly due to home sellers being skittish in their sales. Many sellers think that if they don’t give the buyers what they want, they won’t be able to sell their home. As a result of this nervous panic, the balanced market leans towards being a buyer’s market with any demands getting met by the sellers, and with the potential for sellers to lose out on the true value of their home.

If you listed your home and are moving because you need to buy something different, maybe a bigger or smaller home, and you can afford it: sell it and move on. You marry the house, not the interest rates, and you can always refinance later. Don’t feel pressured to sell your house to the first buyer who offers or anxious that you’ll miss out on selling your home if you give a counteroffer. The right buyer for your home will come. Let us at TVPM & RE know if we can help you with achieving your home-buying dreams.

Are you currently renting? Maybe thinking about the day when you’d be able to afford a home for your growing family or wanting to put down permanent roots here in the Treasure Valley? Maybe you’re not sure if buying a house is the best move right now, finances and opportunity seem tight these days for everyone. Let me share something that could change your mind about owning a home versus renting one over this next year.

Rent for a property could be catching up with a mortgage. In other words, it might be prudent to buy a home now and make an investment instead of sinking money into rent each month. In the past, it was simpler to tell if you should buy a home or rent one to save money. You could calculate how much you would save if you rented and then save up that money for a down payment someday. Nowadays, rent in many places is equivalent to or very close to a mortgage payment, meaning that all of the money you’d pay in rent each month could be instead going to something that would be fully yours someday or bring you equity if you sold it in the future.

Mortgage payments are generally stable month-to-month, while rent can change drastically if your landlord raises the prices on a whim. Owning a home can also give you tax benefits, and if you have or want to move in the future, you would have more time to make a decision instead of being kicked out of where you are renting. These are just a few of the reasons to think about owning a home instead of renting. Of course, you should always consider hidden homeowner costs, your finances, and make sure you’re not getting in something that’s well over your head. Contact any of us at TV Idaho Real Estate and Property Management, we would be happy to help you with any questions you might have about your dreams of home ownership.

The Treasure Valley may be seeing interest rates lower in June which would greatly benefit homeowners next year. The Federal Open Market Committee meeting will be held in a few weeks on June 18th, and we believe that they are going to lower their interest rate; we’re curious if it will be 0.25 or 0.50. Low interest rates are beneficial for homeowners, and if you’re planning on buying a house this year, those low rates will be great for saving money as you navigate the hidden costs of home ownership.

We are also experiencing a slowdown in the real estate market here in the Treasure Valley, which is mainly due to interest rates. Right now we have at least 30% more homes on the market than we did last year at this time, but they’re moving slowly towards being sold. We are hopeful that lower interest rates will keep the market moving, hopefully towards a balanced market for both buyers and sellers.

All of us here at TVIPM and Real Estate would be happy to help answer any of your questions about interest rates, housing costs, or anything else you might be pondering as you decide if you’re ready to buy or sell a home. We want to help you find your dream home, despite the challenges of the economy, and help you provide for your family what you need to thrive!

First-time home buyers have an advantage in the Treasure Valley real estate market right now, and you’ll want this information in your back pocket as you consider the next steps towards home ownership. The recent slowdown in the market gives you the possibility of affording home repairs and asking for closing costs, as well as offering a lower price and actually getting it.

In the last few years, homes have been selling for higher and higher prices, and people have been scrambling to buy homes with inventory being less than demand. You requesting closing costs or repairs was risky, since there were usually multiple offers on a home and other buyers might not have the same priorities that you did. But with the market slowing down and homes being on the market for around 2.5 months or 75 days and inventory catching up with demand, we’ve seen people’s requests being accepted with their offers. This allows first-time home buyers to afford better homes than they could and also to be able to afford repairs themselves after they move in.

Many home sellers think they can get more for their homes than they actually can right now, since they are used to the prices of post-2020. However, many home buyers are nervous about the state of our country’s economy and aren’t willing to just pay full price for any home, loan applications are down, and construction has been slowing. If you are a new home buyer, are ready to buy a home, and have the adequate funds necessary, now is the time to take the next step before the market picks back up again. Marry the house but date the rate, and don’t live in fear but stay informed. We at TV Idaho Real Estate and PM are willing to help answer any questions you might have, just give us a call or send a message!

When you’re considering buying a home, interest rates for mortgages are often one of the top things on your mind, right? Before getting locked down in a payment plan for years with the potential for rates rising and more money leaving your pockets, you probably want to know what you’re getting yourself into. Being a homeowner can be work enough without the added stress of rising interest rates, we’re here to help ease your worries so you can make the best decision for you and your family’s housing situation!

You don’t need to wait for the perfect interest rate to become a homeowner! The past 50-year interest rate average has been around 8%, rarely spiking higher. You marry the home, but date the rate. The passive savings that can accumulate from owning a home can be better than renting, even with a higher interest rate. Our homes are still increasing in value in the Treasure Valley, and if you take care of your home, you won’t be losing out on potential future value.

While you are looking for a home, however, you should keep your budget in mind and ensure that you’re not going to be paying more than you’re able to afford. If the home and interest rates are doable with your income then we say, go for it! There can be hidden costs with home ownership that can take you by surprise if you are a new home buyer, such as wear and tear on the home itself. But if your finances are stable and you feel ready, home ownership is well worth the money and we’re happy to help you get there. Please let us know how we can help you!

The best months for selling a home in the Treasure Valley are typically the warm, sunny months of late spring and summer. The long days are ideal for showing off the best aspects of your home, and many people want to get settled in before the winter weather hits. However, 2025 has brought about an unexpected shift in the real estate market as January and February have climbed rapidly in housing sales. Inventory has been steadily rising and people are sending us offer after offer and they’re often well above asking price. The Idaho real estate market is not dead in the winter, we’re usually slow but sales do get made; however, this sudden leap of activity is quite unusual. Many buyers seem concerned that prices will climb dramatically in the spring and they don’t care about the interest rate, if they can afford it, they’re doing it. People that have been sitting on the home-buying sidelines for the past few years are jumping at the opportunity to do it now.

Mortgage rates have been predicted to come down due to inflation easing, but we haven’t seen that happen yet, and as a result the market may slow down come spring. This current rise in sales is unexpected in the cold February of Idaho, but we’re still happy to be helping people find their dream homes. Don’t wait to buy if you’re ready now, but don’t panic buy either! Make the best decision for you and your family, make sure you can afford it, and don’t forget that you marry the house but only date the rate. We’ll see where these new trends lead us in 2025!

If you can still afford a home at the present interest rate, what’s stopping you from purchasing one? Maybe you’re concerned about having enough money, maybe you’re not ready to settle, or maybe you want to wait for home prices to drop and inventory to increase. Whatever the case, having a good realtor on your side to discuss options is invaluable! But there is plenty you can think about on your own before you get in contact with one.

What are your finances like? Do you have student loans, bad credit scores, and unpaid bills? Or are you able to keep up with your financial obligations and have a good amount put away into savings? It’s a good idea to consider your financial situation when you’re thinking about home buying and to make sure you can afford a down payment and subsequent payments.

Do you know where you want to settle down? Do you plan to be married, have kids, or are ready for the responsibilities of home ownership? Do you want to live in the country, city, or suburbs? Do you have or want animals? Maybe you feel like you don’t have the time to dedicate to home buying? The details about your personal life and future goals or dreams are important to keep in mind when you’re looking at homes.

It may seem like these questions are all too much to think about when planning for home buying, but figuring out all the details beforehand saves you a lot of stress during the process of looking for a home, and can also save you from making a poor decision. We at TV Idaho Real Estate and PM are always willing to help answer your questions, and if you feel like you’re ready to start looking for a home, we’d be happy to help you achieve that dream.