Coeur d'Alene Real Estate Specialists
Coeur d'Alene, Post Falls, Hayden, Rathdrum, Hayden Lake & Worley

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On the second Friday of each month people gather in downtown Coeur d’Alene to tour local galleries, meet area artists, listen to great music and meet old friends and make new ones.  It’s a great venue and one worth the enjoying.  See Details for the May 10th Event HERE

I have not been very diligent in posting new information to my Coeur d’ Alene Real Estate blog over the past few months in large part to the flurry of activity we have noticed in the North Idaho Marketplace.  In 2012 we witnessed a steady improvement in our market place fueled by low mortgage rates and improving real estate in other parts of the country.  Well so far in 2013 these trends have kept building.  In April we have watched the number of listings year over year drop from 2,800 to 2,450 leaving us with around a 9 month supply to work with.  As a result of this property shortage prices are stabilized and beginning to rise in some parts of Kootenai County.  Average prices of what has sold increase around 6.5% as compared to last year this time.

Given what is happening throughout the country the improvements in our local Coeur d’Alene Market is no surprise.  We are still a destination people from around the county aspire to relocate their families. North Idaho offers great schools, beautiful surroundings, an endless supply of recreational opportunities and a small town community atmosphere with metropolitan amenities. 

This recent Associated Press article does a good job outlining many of the nation trends driving our real estate market today.  READ ARTICLE HERE

For more information about the Coeur d’Alene area please feel free to contact us thought our website or give me a call at 208-818-0002. 

I know, I know I have been very slow to post anything new on my Real Estate blog as of late.  Last year went out like a lion and this year came in like a bigger lion.  Real Estate activity in North Idaho exploded over the last year.  Coeur d’Alene Real Estate sales throughout 2012 continued to build while inventories continued to decline going a long way to stabilize prices.  This year is a continuation of the same but with even greater impact.  To-date the number of sales in Kootenai County have increased 10% from this time last year and inventories are down 16%.  This trend has helped the homes in the higher price ranges gain favor as well boosting the average price of what has sold increase 5%. Post Falls Idaho is the big winner for the first two months seeing the number of real estate sales increasing by 47% and average prices climbing by 14%. If you are looking at homes priced below $250,000 you should expect to have to act fast when you find something you like.  If these homes are clean and priced well they are not lasting long.  As a result we have had a vast resurrection of the building sector or our economy.  Builders are frantically trying to fill the void left in the wake of declining inventories and new homes now account for 16% of the sales year-to-date as compared to just 9% last year this time.  You also notice that many of the newer developments and plans that were mothballed in the years past due to inactivity have been dusted off and prepared for live.

Now is a great time to invest in the county, rates are still low and there are plenty of opportunities to acquire properties at prices not seen since 2003.  See the entire February Coeur d’Alene MLS Stats Here

Twas the week before Christmas and the numbers are out. The Coeur d’Alene Real Estate Market is looking pretty stout.  Okay….Enough with the holiday prose.  While the results were published late once again they where definitely worth the wait.  We have reported throughout the year that the real estate sales numbers have repeatedly beat those posted in 2011 and November is no different.  The number of residential sales are up 10.7% with volume increases of 15.7% year over year.  The average price of what has sold has gone up 4.5% and inventories or the number of homes for sale has gone down 12.1%.

The waterfront sector posted strong year over-year-sales with an increase of 42%.  Also we have noticed homes in the higher prices ranges have finally started to move.  Last year there were 119 homes that sold during the first 11 months for over $500,000, compared to 160 homes that sold so far this year, an increase of nearly 35%.

SEE THE ENTIRE REPORT HERE

The strength seems to be carrying into the winter months.  Personally we have had a number of Prospective Buyers planning their trips to the area running deep into December.

If you have any questions about the area or the market in general please give us a call or check out our website at www.kbennett.com

There has been a lot of buzz lately about this mysterious new 3.8% tax Obama has created and quite frankly a fair amount of misinformation.  This tax was actually slipped into the Obama’s Health Care Policy and is a tax on certain types of income earned by those individually who make more than $200,000. (What investment income has to do with one’s heath care expenses I have no idea but the old Robin Hood plan – steal from the rich and give to the poor – is always an easy sell in Washington).

To get you up to speed about this new tax legislation, the NATIONAL
ASSOCIATION OF REALTORS® has developed this informational brochure.  SEE ENTIRE BROCHURE HERE

“Beginning January 1, 2013, a new 3.8 percent tax on some investment income
will take effect. …. you’ll read examples of different scenarios in which
this new tax — passed by Congress in 2010 with the intent of generating
an estimated $210 billion to help fund President Barack Obama’s health care
and Medicare overhaul plans.

Understand that this tax WILL NOT be imposed on all real estate transactions,
a common misconception. Rather, when the legislation becomes effective in 2013,
it may impose a 3.8% tax on some (but not all) income from interest, dividends,
rents (less expenses) and capital gains (less capital losses). Th e tax will fall only
on individuals with an adjusted gross income (AGI) above $200,000 and couples
filing a joint return with more than $250,000 AGI.”

I hope this helps everyone understand if and how this tax may affect you personally and if you have any specific questions you should always ask your tax professional.

These numbers were definitely worth the wait.  We have reported throughout the year that the real estate sales numbers have repeatedly beat those posted in 2011 and October is no different.  The number of residential sales are up 10.3% with volume increases of 15% year over year.  The average price of what has sold has gone up 4.3% and inventories or the number of homes for sale has gone down 11.2%.

The waterfront and secondary waterfront sectors have posted strong year over-year-sales with increases of 44% and 20%, respectively.  Also we have noticed homes in the higher prices ranges have finally started to move.  Last year there were 110 homes that sold during the first 10 months for over $500,000, compared to 146 homes that sold so far this year, an increase of nearly 33%.

SEE THE ENTIRE REPORT HERE

The strength seems to be carrying into the fall and winter months.  Personally we have had a number of Prospective Buyers planning their trips to the area running deep into December.

If you have any questions about the area or the market in general please give us a call or check out our website at www.kbennett.com

Once again Coeur d’Alene, Idaho is ranked by CNN Money as one of the Best Places to Retire.  SEE ARTICLE HERE

Anyone who has spent any time here whether just passing through or on an extended vacation to recharge can understand why North Idaho continues to dominate the rankings for Best Place to Retire, Best Place to Retire Young, Pet Friendly, Bike Friendly……….

It has now been seven years since we moved here from the Midwest.  Growing up in neighboring Montana we knew of the unique beauty and character the Coeur d’Alene area had to offer and when we sat down to determine where we wanted to raise our young family, Coeur d’Alene quickly rose to the top of the list.  It sure doesn’t feel like seven years and we continually reference the fact that we love the area more with each passing year.

Please give us a call if you are planning a trip to the area as part of your relocation plans.  We will be happy to provide you a clear honest assessment of the area and help you uncover an area that is best suited for your situation.  Visit our website at www.kbennett.com and get started today.

We have discussed many times in prior blog articles that we have entered a trend where inventories have been falling and demand in the Coeur d’Alene area real estate has been improving.  This we predicted would result in a stabilization to home prices in North Idaho.  Well the last few reports from our Multiple Listing Service show just that.  If fact there are a few segments of the Coeur d’Alene Real Estate Market that have shown average prices improving.

A recent article from Money.com shows similar results across the nation (READ ARTICLE HERE) which is great news for our local market as so many who move here come from some of the harder hit markets.  We have noticed more and more buyers visiting North Idaho now realizing that prices are not going to get much lower and interest rates have a better chance of going up than down.

If you have any questions about the Coeur d’Alene area or our housing market just contact us through our website at www.kbennett.com.

The good news continues in the Coeur d’Alene area real estate market! It took awhile but the official results are in and continue to be encouraging.  The number of sales reported through May 2012 is up 10.5% from last year at this time and the total volume (the dollar amount of what has sold) is up 14%. Even more encouraging is that the average prices for this same time period is up around 3.1%. While this does not mean the value of one’s home increased by this amount it more accurately depicts that some properties in the higher price ranges now have an increased market. Finally – the BIG ONE…. Inventories (residential homes for sale) are down 12.7% from this time last year.  For those that know me I continually watch the supply of homes as I firmly believe that the number of homes available for sale must continue to decline before we will notice any real stabilization of home values. Another key point is that the number of Short Sales and Bank Owned (foreclosed) homes that have sold dropped 6% meaning more owners have been able to sell their homes outright without lender involvement. On a personal note we can attest that June and July has the making to continue this positive trend.  Activity is strong and the number of pending sales continues to out pace those from years past.  Stay tuned. See Entire Report Here

Coeur d’Alene Area Real Estate ranks #4 on Wall St. 24/7′s Fastest Growing Housing Markets in the Nation. The article states:

CDA Ranked #4 by Wall St. as Fastest -Growing Housing Markets. 4. Coeur d’Alene, ID
> Expected price increase: 3.8%
> Unemployment rate: 8.9%
> Change in home prices (2010Q4-2011Q4): -4.5%

Coeur d’Alene, located in northern Idaho, is one of the smallest and most remote metropolitan area in the country, with a population of just over 140,000 residents. It is, however, located next to the much larger Spokane, Washington, across the state border. Home prices in the region fell 27.1% during the recession from their peak in the third quarter of 2007. In the past three years alone, prices fell more than 8% each year. The area is projected to experience a substantial housing recovery over the next half-decade. Between the end of 2011 and the end of 2016, Fiserv estimates home prices will increase 4.5% each year.  READ ENTIRE REPORT HERE