Earn the ABR® Designation at Boise Regional REALTORS®

BRR is offering the Accredited Buyer’s Representation (ABR®) designation course again this year on Wednesday, August 22 and Thursday, August 23. Register here!

If you have taken any of the following classes offered by BRR, you’ve already completed an elective and are one step closer to earning your ABR® designation!

  • New Home Construction & Buyer Representation
  • e-PRO®
  • Pricing Strategies
  • Generating Buyer & Seller Leads

Call 208.376.0363 to register today, or register online!

ABR 8.22-8.23

2018 REALTORS® Legislative Meetings

Legislative Meetings Slider

BRR leadership and staff are in D.C. this week attending the 2018 REALTORS® Legislative Meetings where they will meet with Idaho’s Members of Congress and participate in association meetings. Follow along on this blog post, Facebook, and Twitter!

Here are four talking points from NAR that they will be sharing during their Hill visits. Click here to learn more about each topic.

  1. Supporting Strong Net Neutrality Protections
  2. National Flood Insurance Program
  3. Tax Policy
  4. Equal Access to Housing Opportunities

Check back for updates during the week!

PHOTO GALLERY


Monday


Tuesday


Wednesday Collage


Dr. Lawrence Yun, Chief Economist and Senior Vice President of Research for NAR, presented at the Residential Economic Issues & Trends Forum Thursday morning. One of his slides named Boise as one of the strongest U.S. job markets in the last three years. You can find his presentation and others at nar.realtor/research-and-statistics/research-presentations.

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On Saturday, May 19, 2018, BRR National Directors Gail Hartnett, Carey Farmer, and Large Firm Director Krista Deacon attended the Board of Directors Meeting. Learn more about the decisions that were made at that meeting at nar.realtor/internal-news-service-special-report-legislative-2018.

NAR BOD Meeting

Gail Hartnett was also honored on stage with an “Own It” Coin for her role as the Vice Chair for the Fair Housing Workgroup.

Gail Hartnett honored for Fair Housing


 

April 2018 Market Report

MORE EXISTING HOMES FOR SALE HELP EASE
ADA COUNTY HOME PRICES IN APRIL

Key Takeaways:

  • In April 2018, the overall median sales price for homes in Ada County was at $295,000, a decrease of 4.5% compared to the previous month.
  • The change in the overall median sales price was driven by a significant increase in the number of existing homes for sale in April 2018, up 27.7% from March. This additional supply helped to bring down the median sales price in the existing home segment by 5.2% from March, to end the month at $275,000.
  • These lower price points are not a reflection of waning buyer demand. The number of existing homes under contract in April 2018 was up 16.5% from the previous month, and new construction contracts were up 9.5% from March 2018.

Analysis:

April brought with it a significant increase in the number of existing homes for sale compared to March 2018, helping to ease the median sales price for existing homes by $15,000, landing at $275,000 in April 2018. This is good news for buyers currently in shopping for a home, but potential sellers should not be concerned. Monthly fluctuations like this are typical during the spring and summer, and the April 2018 median price for existing homes was still 15.3% higher than the same month last year.

The introduction of more existing homes to the market, compared to the number of new homes for sale, is what we’ve needed to keep the overall median sales price in check. The rising cost of new construction had pushed Ada County’s overall median sales price over $300,000 (for the first time ever) in March 2018, but the overall median sales price (based on existing and new home combined) dropped below that mark to $295,000 in April 2018.

These lower price points are not a reflection of waning buyer demand, however, as the number of existing homes under contract in April 2018 was up 16.5% from the previous month. New construction contracts were up 9.5% from March 2018.

Even with additional inventory, buyers interested in an existing home still need to make quick decisions as the number of days on market for existing homes was at 22 days in April 2018. This was even with last April but 5 days faster than in March 2018. New construction buyers can take a bit more time shopping, as days on market for that segment was at 65 days in April 2018.

 

GEM COUNTY HOME SALES UP IN APRIL

In April 2018, 32 existing homes sold in Gem County, up 33.2% compared to April 2017. That left 40 existing homes available for sale at the end of the month, down 13.0% from the same month last year, but up 11.1% from March 2018.

While new construction is typically limited in Gem County, an additional 11 new builds sold or went under contract in April 2018, up from six the previous month.

The median sales price for existing homes in Gem County was $190,000 as of April 2018, based on activity over the past 12 months — an increase of 12.8% over the same period last year.

For new homes, the median sales price was $204,900 as of April, also based on activity over the past 12 months. This was up 10.1% over the same period in the previous year.

Specifically, in the city of Emmett, closings were up 19.3% year-over-year, as 31 homes sold in April 2018, for existing and new construction combined. Based on activity in both segments over the past 12 months, the median sales price for Emmett was at $178,674 in April 2018, a gain of 8.2% over the same period last year.

 

Additional information about trends within the Boise Region, by price point, by existing and new construction, and by neighborhood, are now available in the April 2018 Ada CountyCanyon CountyGem County, and City Data Market Reports. This includes an explanation of the metrics and notes on data sources and methodology.

Download the latest (print quality) market snapshot graphics for Ada County Existing/ResaleAda County New ConstructionCanyon County Existing/ResaleCanyon County New Construction, and Gem County:

ADA Existing Snapshot - April 18

ADA New Construction Snapshot - April 18

Canyon Existing Snapshot - April 18

Canyon New Construction Snapshot - April 18

Gem Snapshot - April 18

# # #

This report is provided by Boise Regional REALTORS® (BRR), a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

If you have questions about this report, please contact Cassie Zimmerman, Director of Communications for Boise Regional REALTORS®. If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

The data reported is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com. These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings).

59 Minute Meeting Recap: The State of Garden City

5.1.18 59 Min Meeting Slider

We had another great turnout for our 59 Minute Meeting on May 1st! Thank you for joining us and engaging in conversations around local public policy issues.

Our guests were Garden City Mayor John Evans and Director of Development Services Jenah Thornborrow. Mayor Evans talked about some of Garden City’s stats; such as how it occupies just over four-square miles of land, six miles of river, and is home to over 2,000 businesses and 12,000 residents. The Boise River and three major highways run through Garden City: Chinden, State, and Glenwood.

The Mayor and Thornborrow also discussed new residential developments, a new charter school, partnerships between Garden City and the City of Boise for the whitewater park and the 36th Street bridge, and the possible future of the fairgrounds. The mayor mentioned the success they’ve seen in creating affordable housing by partnering with NeighborWorks Boise on several projects.

As numerous new businesses have sprouted up in town, residents and business owners are increasingly creating a sense of place by adding murals and art to otherwise blank buildings. The commercial growth in Garden City isn’t limited to new buildings, many businesses are creatively reusing existing spaces.

In the Surel Mitchell Live-Work-Create District, between 32nd and 37th streets on the north side of Chinden Blvd, the artistic community is thriving. The district features the greenbelt, Boise River, wineries, breweries, the Visual Arts Collective, and various other art studios and galleries.

The Q & A portion of the meeting focused on the fairgrounds, instant horse-racing initiative, and new developments along the river.

REALTOR® advocacy will continue to play an important role in planning as our region grows. Click here to learn how RPAC works to elect REALTOR® Champions who embrace smart growth principals, private property rights, and thoughtful community development strategies.

Additional resources:

Thank you again for joining us and be on the lookout for information regarding our next 59 Minute Meeting in the near future!

Member Spotlight: Scott Taylor

Member Spotlight Slider - Scott Taylor

“Scott is all in with the goal of always making a difference in our community. He’s been involved with BRR as a member of the Communications Committee and REALTOR® Outreach Committee. Outside of real estate he helps with Paint the Town, Boise Bicycle Project, Idaho Gives, Christmas Kids Bike Give Away, Ada County Wood Works, Southwest Idaho Woodturners Association, Idaho Artistry In Wood, Turn for the Troops, Shriners Toy Drive, and Western Idaho Fair. He also assists his elderly neighbors by shoveling walks, driving them to appointments, and checks on them weekly. Scott wears his heart on his sleeve and is so careful to always do the right thing.”

— Krista Deacon, BRR Director and Broker for Silvercreek Realty Group

Vote in the Primary Election on May 15th!

REALTORS® are leaders in the community so it’s important that BRR members vote to make our voices heard. The Public Policy Committee at Boise Regional REALTORS® thoughtfully interviewed and vetted candidates to receive our association’s endorsement. Learn about the candidates and issues and then vote in the primary election on Tuesday, May 15th!

BRR has endorsed the following Ada County candidates:

Ada County Commissioner, District 1 —  Jim Tibbs

Ada County Commissioner, District 3 — Dave Case

Ada County Clerk — Phil McGrane

Ada County Assessor — Robert McQuade

Ada County Treasurer — Elizabeth Mahn

 

Ada County Endorsements

BRR has endorsed the following Gem County candidates:

Gem County Assessor — Hollie Ann Strang

Gem County Clerk — Shelly Tilton

Gem County Treasurer — Megan Keene

Gem County Endorsements

Elections will be held on Tuesday, May 15, 2018. For information on the candidates, registration, and where to vote, please visit idahovotes.govadacounty.id.gov/elections for Ada County, or gemcounty.org/elections for Gem County.

 

# # #

BRR’s Public Policy Committee extends invitations to all candidates running for office in Ada and Gem County, and the municipalities and agencies within each county. Candidates interested in being interviewed share their views on housing, private property rights, education, transportation, and other issues affecting the community. From there, the Public Policy Committee, made up of volunteer REALTORS®, provides a list of recommended endorsements which are reviewed and approved by BRR’s Board of Directors. For information regarding these local endorsements, please contact Soren Dorius, BRR Director of Government Affairs, at 208-947-7237 or soren@boirealtors.com.

Information about statewide races is available on the Idaho REALTORS® website at idahorealtors.com/your-voice-counts-important-voting-resources, or through the Idaho REALTORS® Government Affairs Director, Max Pond. He can be reached at 208-342-3585 or mpond@idahorealtors.com.

Boise Regional REALTORS® (BRR), is a 501(c)6 trade association, representing more than 4,500 real estate professionals throughout the Boise Region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

Q1-2018 Market Report

Q1-2018 Ada County Market Report
Warmer Winter Temps Meant an Early Spring Housing Market

Key Takeaways:

  • Warmer winter temps may have encouraged homebuyers to shop earlier, as the growth in purchase activity during the first quarter was more like what we typically see early in the second quarter of the year.
  • The median sales price is the point at which half of the homes sold for more and half sold for less. For the existing/resale segment, there were approximately 725 homes that sold for less than $273,650 during the first quarter of 2018 in Ada County, and another 725 that sold for more.
  • Prices for existing/resale homes continue to be driven by lack of inventory versus demand, with 33.1% fewer options for buyers to choose from in the first quarter compared to same quarter last year.

Just because there is low inventory doesn’t mean there is no inventory. At the end Q1-2018, there were nearly 1,150 existing and new homes for sale in Ada County across all price points.

Analysis:

During the first quarter of 2018, homebuyers in Ada County purchased 1,450 existing/resale homes and 658 new homes, for year-over-year increases of 7.9% and 26.8%, respectively. Warmer weather over the winter may have encouraged people to shop earlier, as the growth in activity — especially for new construction — is more like what we typically see early in the second quarter of the year.

The Q1-2018 median sales price for existing/resale homes in Ada County was at $273,650, up 21.1% from Q1-2017. The median sales price is the point at which half of the homes sold for more and half sold for less during a certain period. For context, this means that there were approximately 725 existing homes that sold for less than $273,650 during the first quarter of 2018 in Ada County, and another 725 that sold for more.

Prices for existing homes continue to be driven by lack of inventory. Based on the number of homes available for purchase at the end Q1-2018—just 498 properties, —homebuyers had 33.1% fewer options to choose from than the previous year.

Looking at the new construction segment, the Q1-2018 median sales price in Ada County was at $355,085, up 12.1% from the same period last year. This means that there were approximately 329 new homes that sold for less than the median price during the first quarter of 2018 in Ada County, and another 329 that sold for more.

New construction prices primarily reflect the rising prices of labor and materials, as well as lower inventory this year than last year. There were 645 new homes for sale at the end of Q1-2018, down 18.7% from the end of Q1-2017. However, there continues to be more new homes available than existing in Ada County.

Key Metrics:

Q1 Ada County Housing Data by Segment

Q1-2018 Existing Home Median Sales Price

Q1-2018 New Home Median Sales Price



Q1-2018 Gem County Market Report
Low Housing Inventory Persists in Gem County

Q1 Gem County Housing Data by Segment

Homebuyers in Gem County purchased 60 homes during the first quarter of 2018, even with the same quarter last year.

The Q1-2018 median sales price in Gem County was at $189,175, up 9.8% from Q1-2017. The median sales price is the point at which half of the homes sold for more and half sold for less during a certain period. For context, this means that there were approximately 30 homes that sold for less than $189,175 during the first quarter of 2018 in Gem County, and another 30 that sold for more.

Based on the number of homes available for purchase at the end Q1-2018—just 41 properties—homebuyers in Gem County had 43.9% fewer options to choose from this year compared to last year.

Additional information about trends within the Boise region, by price point, by existing and new construction, and by neighborhood, are now available in the March 2018 Ada CountyCanyon County, and Gem County and City Data Market Reports. This includes an explanation of the metrics and notes on data sources and methodology.

Download the latest market snapshot graphics for Ada County Existing/Resale, Ada County New ConstructionCanyon County Existing/Resale, Canyon County New Construction, and Gem County:

ADA Existing Snapshot - March 18

ADA New Construction Snapshot - March 18

 

Canyon Existing Snapshot - March 18

Canyon New Construction Snapshot - March 18

Gem Snapshot - March 18

Download print quality market snapshot graphics for Ada County Existing/ResaleAda County New ConstructionCanyon County Existing/ResaleCanyon County New Construction, and Gem County.

 

 

# # #

NOTE: Monthly housing market data for cities and neighborhoods are fantastic tools for REALTORS® to use when advising their clients about real-time home listing and purchase decisions. Boise Regional REALTORS® (BRR) will continue providing REALTORS® with monthly data as a member benefit and a market intelligence tool but are shifting to a quarterly market analysis schedule for our press releases. This gives us the ability to look at the macro trends in the data that are shaping our region’s housing market, along with the bandwidth to go deeper into additional metrics, geographies, and market segments, in between these quarterly reports.

# # #

This report is provided by Boise Regional REALTORS® (BRR), a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

If you have questions about this report, please contact Cassie Zimmerman, Director of Communications for Boise Regional REALTORS®. If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

The data reported is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com. These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings).

Golf Tournament and Online Auction Opportunities

RCF LOGO

Combined golf + auction logos

There are four ways for you to get involved in the REALTORS® Community Foundation’s largest fundraisers of the year!

  1. Register your team to golf in the Give Back Golf Tournament.
  2. Donate an item for the golf tournament drawing.
  3. Sponsor the Give Back Golf Tournament.
  4. Donate an item for the online auction.

For the past 20+ years, the REALTORS® Community Foundation has hosted the Give Back Golf Tournament to raise funds to give back to housing-related projects that improve the quality of life in our community. Learn more about our 2017 grant recipients!

This year, we’ll be golfing at Shadow Valley Golf Course on Wednesday, May 30, 2018.

Sponsors will get their businesses in front of 200+ people who attend the event, plus sponsor logos will be featured in all of the marketing materials before and after the event. Learn more about sponsoring or donate an item for the drawing.

Partner with the REALTORS® Community Foundation by donating an auction item for our annual online auction beginning Wednesday, May 23, 2018. Your donation will be promoted for three weeks to more than 4,400+ REALTOR® members with your company name, logo, item description, and picture.

As a 501(c)(3) organization, items donated to the foundation are tax deductible.

Have questions? Contact Shari Fernandez, BRR’s Director of Events and Community Engagement.

2018 GBGT Sponsors

2018 REALTOR® Awards Gala

 

2017 Gala Slider

Congratulations to our award winners and top producers!

2018 Awards Ad IS

Download the PDF version here.

BRR Honor Society members are also recognized at the Gala. To learn more about the Honor Society and to apply, visit our Honor Society page.

EVENT PHOTO GALLERY


2018 Thank you Gala sponsors shareable graphic