The average 30-year fixed mortgage rate from Freddie Mac has inched up to 5% in the last few weeks alone. That might sound like daunting news, but rest assured: the right time for your home search in Idaho is now. You might be inclined to put your home-buying dreams on hold, waiting for the rates to fall, but waiting is only going to end up costing you more. Mortgage rates are expected to keep rising in the next year.

If you’re thinking of buying a home in Idaho, keep a few things in mind so you can succeed, even as mortgage rates rise. 

How Rising Mortgage Rates Impact You

Mortgage rates play a significant role in your Idaho home search. When rates increase, so does the amount of your monthly mortgage payment; your home buying ability will be directly affected by how much you can comfortably afford.

The chart below is an example of the big impact even a quarter-point increase in mortgage rates can have on your monthly payment:

With these recent increases in mortgage rates, it’s likely that you have already noticed an impact on your purchasing power. Instead of delaying your plans to buy a home in Idaho, today’s rising rates should motivate you to purchase now before mortgage rates increase even more. Use this motivation to fuel your Idaho home search and plan the appropriate next steps accordingly.

The number one way to prepare for your home search is to work with a trusted Idaho real estate advisor now. An agent can connect you with a trusted lender, help you fine tune your home search according to your specific budget, and help you be ready to act quickly when the time comes to make an offer on the Idaho home of your dreams.

Bottom Line
Buyers who are serious about finding their Idaho home should use the recent increases in mortgage rates as extra motivation to buy sooner, instead of as a reason to wait. Waiting to purchase will only cost you more in the long run, as rates are expected to continue rising. Work with an Idaho real estate professional to understand your budget and purchasing power, and how you can be best prepared to buy your new home in Idaho before mortgage rates climb even higher.

• Involve the whole household in de-cluttering. It's a big job!
• Remove everything from an area
• Vacuum and wipe down
• Put items back that you love and want to keep!
• Donate or sell items that you no longer need

In your home search, now focus on the criteria you do WANT. A big back yard? A home with lots of natural light? Make a list and imagine what this new home might feel like!

• Rugs
• ​Upholstery
• Curtains
• Drapes
• Shower curtains
• Slipcovers (put slipcovers on while they're still damp for the best fit!)
• Get help from a professional carpet cleaner for carpets and big rugs

Now it's time to narrow down your list of available properties! Review your criteria and your options. We'll set up showings so you can see the properties!

• Clean behind the fridge and vacuum the coils
• Clean the garbage can and recycling bins
• Scrub grout in the kitchen and bath
• Clean out the dryer hose and vacuum the lint trap
• Clean blinds and dust light fixtures
• Vacuum hard-to-reach places,
• Clean plastic screens on TVs, computers, and other electronics

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There are a lot of little details in the final phase of getting your new home. We're going to make an offer and run through the appraisal and inspection process. We will handle all of these details for you--because let's face it--there's gonna be a lot of cleaning and packing to do soon!

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control.

​Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.

• ​Supply Chain Issues 
• Skilled Labor Shortage

While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed.

When planning your next move, understanding the latest market conditions is key to making the best decision possible. To make sure you have all the information you need, partner with a real estate professional. They’re experts in the local market and can help you confidently decide what’s right for you, your priorities, and your timeline.

Knowing key housing terms and how they relate to today’s market is important. When mortgage rates and home prices rise, it impacts how much home you can afford.

Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction.

Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Lean on a trusted advisor so you have an expert guide and advice for any questions that may come up.

Are you thinking about selling your Idaho home right now, but not sure you’ll have the time with the holidays? 

Even as the holiday season approaches, there are plenty of buyers out there, and they really want your house. Here’s why selling this winter is a win for you.

Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it.

Nationwide, the average seller today is getting nearly four offers. That number is significant because it means you’ll likely have multiple offers to pick from if you sell your house this season. To put things into perspective, no matter where your state falls, remember that you really only need one good offer to close the deal.
Any offer you receive will likely be from a highly motivated buyer who’s doing everything they can to beat the competition. The stakes for buyers are high. They’ve been looking for a house and they want to lock in their dream home before prices and mortgage rates rise further next year. Chances are, they’ll get creative with the terms of their offer, which could include waiving contingencies and offering over the asking price – both of which are great news for you.

If you’re on the fence about when to sell, remember your house is a hot commodity this season. As other sellers take a break for the holidays with plans to re-list their homes in the new year, you can put your house in front of motivated buyers by making your move today. That means your house will be the center of attention, and likely the center of a bidding war too.

Selling now gives you even more opportunity to win big as buyers compete for your house in today’s market.

Contact us to get started!

​According to one nationwide survey  almost 23 million people are relocating to advantage of the ability to work remotely. Many of those people are looking for places where housing prices are cheaper or the lifestyle they desire if more attainable. A lot of considerations should be thought through before making any rash decision though. While some communities and/or rural areas offer less expensive homes there often are other costs that might be higher. State income taxes vary from state to state as one example. Rural living usually involves more transportation and often fewer choices for entertainment, restaurants and school choices and availability of health care. Of course, if you can "cash in" on the peak housing prices and buy something cheaper in another area you may have a nice nest egg to subsidize retirement income, make other investments or finally get to travel more. Before hanging the "for sale" sign on your lawn, do some research on the areas you might consider moving to. Get to know the history as well as the amenities that are available. Moving to a new neighborhood can be an opportunity to experience life from a new perspective and can be rewarding. But there may be negatives as well. The less expensive areas typically have a lower wage scale which may be important if your remote job ends and you have to find employment in the new area. If you are leaving behind friends and family you could end up spending any savings by taking trips back to where you came from. In other words, plan carefully and consider all the ramifications of a move before putting your current home on the market.

A healthy home is one that is constructed, maintained, and rehabilitated in a manner that is conducive to good occupant health. To maintain a healthy home, occupants should keep it dry, clean, well-ventilated, free from contaminants, pest-free, safe and well-maintained. Good home maintenance can act to reduce allergens, prevent illness, and reduce injury from accidents. This checklist provides basic guidelines; items may need to be checked more often depending on local conditions and manufacturer suggestions.

YARD & EXTERIOR

• Water drains away from house
• No trip, fall, choking, sharp edge hazards
• Fence around pool intact
• Check for signs of rodents, bats, roaches, termites
• Clean window wells and check drainage
• Clean gutters and downspouts

EXTERIOR ROOF, WALLS, WINDOWS

• Shingles in good condition
• Check chimney, valley, plumbing vent, skylight flashing
• Make sure gutters discharge water away from building
• Check attic for signs of roof leaks
• Check for icicles and ice dams
• Look for peeling paint
• Look for signs of leaks where deck attaches to house
• Check below window & door that flashing intact
• Look for signs of leaks at window and door sills
• Clean dryer vent
• Check exhaust ducts are clear

BASEMENT & CRAWLSPACE

• No wet surfaces, puddles
• Sump pump and check valve working
• Floor drain working
• Vacuum basement surfaces

INTERIOR WALLS, CEILINGS, WINDOWS, DOORS

• Check operation of windows and doors

APPLIANCES

• Clean dryer vents and screens
• Clean exhaust fan outlets and screens
• Clean air conditioning coils, drain pans
• Clean dehumidifier coils, check operation

ELECTRICAL EQUIPMENT

• Check for damaged cords
• Test ground fault interrupters
• Check smoke and CO alarms

GARAGE

• Ensure storage of fuel cans
• Proper operation of garage door safety shut-off
• Check for signs of water damage
• Check for signs of rodents, bats, roaches, termites

PLUMBING, FIXTURES & ACCESSORIES

• Clean & check refrigerator drip pan-icemaker connections
• Check shower-tub surrounds for signs of damage
• Check traps and drains under sinks, tubs, showers for leaks
• Check drain and supply time for leaks
• Check bath and kitchen fans operation

HVAC EQUIPMENT

• Air conditioner (central air merv 8)
• Dehumidifier