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.

It’s May 2024, and we are just entering the prime home-buying season in the Treasure Valley. The cold, dark days of winter are behind us and warm, long summer days are ahead; many people are starting to prep their homes for selling. For the new home buyers out there, we have some advice as you plan to look for and purchase your first home this year. There are great opportunities out there we don’t want you to miss out on!

While you’re starting to look for your first home, don’t let emotions rule your decision. There won’t always be the perfect house or the perfect buying situation, but there are plenty of good houses out there, and always the option to sell again in the future. Take into account the neighborhood, the size of the house you need, and your credit score before making a decision. Getting advice from multiple lenders and a real estate agent will also help as they know the market and state of the economy better than most.

Another piece of advice for first-time home buyers is don’t drain your savings! Pay attention to hidden home-owning costs, the percentage of a down payment (which can vary from house to house), and the cost of moving itself. Keep well within your budget, but don’t wait around for the unicorn home, be reasonable and flexible.

Don’t be afraid of fixer-uppers, older homes in need of a few renovations or yard clean-ups. Those kinds of houses are great for first-time homeowners, you get to build equity through renovations over time and can eventually sell for more than you bought it for. The prices for older homes tend to be less than those of newer homes as well, so they can fit better in your budget.

There’s a lot to keep in mind as a first-time home buyer, but don’t let the stress take over your life! Getting a good team of people to help you with advice and knowledge makes a big difference in the ease of the experience. We at TV Idaho RE and PM are happy to help you find the home of your dreams, contact us to see how we can help you!