2018 BRR Director Candidates

BRR Votes Icon 2018

 

Voting will open August 7, and close at 11:59 pm on September 27.

BRR VICE PRESIDENT – (2 Candidates for 1 Opening)

In addition to the responsibilities noted for a Director, the BRR Vice President will be the primary liaison between all BRR committees and the Board of Directors. The Vice President will also assume the responsibilities of the President in their absence (and in the absence of the President-Elect) and will assist the President in carrying out the functions of the office. Term: January 2018–December 2021; One year as Vice President, the progress through the Officer roles to become the 2019 President-Elect, 2020 President, then Immediate Past President in 2021, unless otherwise determined by the Board of Directors.

Michelle Bailey_resizedMichelle Bailey, Keller Williams Realty Boise

I’ve served as a REALTOR® since July 2006 after moving to Idaho from Northern California. I’ve consistently been a Top Producer in our field and enjoy serving in many different volunteer positions to help those that work in an area I’ve found so much passion and enjoyment in.

In 2016 I partnered with the Ben Kinney Team and now lead a team of amazing Realtors in Idaho. We have a defining culture of doing much more than just selling real estate. As a Keller Williams affiliated organization, we share the KW culture of serving each other, our communities and our planet. Our mission, vision, values, and culture differentiate us as industry innovators and leaders.

We are recognized by the Wall Street Journal and Real Trends as a top 25 producing real estate team in the nation, across all brokerage brands. Our amazing team helped 991 families buy, sell, or invest in real estate in 2016.

“I’m looking forward to using the skills I’ve gained in multiple leadership positions and challenging myself in a new role for the benefit of the Association and our members. We are at a pivotal point in real estate with many changes happening quickly.  Understanding these changes, implications for our members and communicating them are vital.” – Michelle Bailey

 

Danielle Cullip_resizedDanielle Cullip, Silverhawk Realty

Danielle’s commitment to customer service and professionalism are the basis of her foundation. Connecting deeply and serving others, along with building strong valuable relationships is her primary focus.

She has been passionate about real estate since 2005 and thrives on continued education, knowledge, and volunteering in the industry.

Danielle is a rock-star mom of three amazing children: Blake who loves to hunt, play sports and ride his dirt bike. Jocelyn enjoys reading and dance classes … And Ian is all about controlling his 7-year-old environment.

When Danielle is not serving others in real estate, she loves spending time with her family and friends and being active on the water during the summer months. She also loves reading great books and traveling whenever she gets the chance.
Danielle is a team player that approaches every situation with a go-giver attitude, she thrives on helping others meet their needs.

“I have been extremely lucky to be involved with Boise Regional Realtor’s for so many years but most to have had the opportunity to sit with some incredibly talented people on the Board of Directors for the last 4 years. I believe my leadership skills have grown this last year and a half as your Treasurer. I have been able to learn how the association runs as a whole as well as giving my input on different situations. If I am elected as Vice President I look forward to fine tuning my skills even greater while representing Boise Regional REALTORS® to the best of my ability.” – Danielle Cullip

 

BRR TREASURER – (1 Candidates for 1 Opening)

In addition to the responsibilities noted for a Director, the BRR Treasurer will be the primary liaison between all BRR committees and the Board of Directors. The Vice President will also assume the responsibilities of the President in their absence (and in the absence of the President-Elect) and will assist the President in carrying out the functions of the office.

Term: January 2018–December 2019

Bob Van Allen_resized

Bob Van Allen, Coldwell Banker Tomlinson Group

A 2001 graduate of Northwest Nazarene University in Nampa, Idaho, Bob has considered the Treasure Valley his home for over 17 years. After working as an engineer at Micron Technology briefly after graduation, he decided to combine his analytical way of thinking with his business ambition and acumen, entering the real estate brokerage business in 2003.

Bob started his career with Coldwell Banker in 2003 and has been affiliated with the company for most of his real estate career. A lifelong learner, he values continuing education and has attained many of the industry’s most-respected professional designations, including the CRS (Certified Residential Specialist), GRI (Graduate REALTOR Institute), and ABR (Accredited Buyer’s Representative).

As a producing real estate agent, Bob was always in the top tier of sales productivity in the market and values hard work, professionalism, and integrity in business above all else. Bob has been a member of the Boise Regional Realtors’ (BRR) “Circle of Excellence” since 2004 and participates in local industry leadership as a member of the Board of Directors for both the Boise Regional Realtors (BRR) and the Intermountain Multiple Listing Service (IMLS).

In 2013, Bob became Chief Operating Officer of Coldwell Banker Tomlinson Group, eventually transitioning into the role of Designated Broker and Chief Executive Officer. In this capacity, he supervises four local sales offices consisting of approximately 250 real estate agents and 20 staff members. He became a partner in the company in 2014.

Bob is also a member of the TitleOne Corporation Advisory Board and the Board of Directors for the Idaho Diaper Bank. Additionally, he is active as a member of the Boise Valley Economic Partnership (BVEP) and a new member of the Young Presidents’ Organization (YPO) Idaho Chapter.

An avid real estate investor himself, Bob has bought, sold, and managed many rental properties over most of his real estate career and is a valued resource for real estate investors.

Bob believes deeply in the Zig Ziglar mantra, “If you help enough other people get what they want, you will get what you want.”

His vision as broker and CEO for Coldwell Banker Tomlinson Group is to be the premier real estate brokerage of choice for customers and real estate professionals in the Treasure Valley. Bob brings fresh ideas and great excitement to his company as it continues to serve clients and move forward into a very bright future.

In his spare time, Bob enjoys traveling, getting outside, playing golf, and home life with his wife, Erin, and his two young sons.

“My experience in brokerage ownership/management at Coldwell Banker Tomlinson Group over the last four years – as well as my broader investment and industry experience – positions me to serve the association well in the position of BRR Treasurer. Additionally, having served on the BRR and IMLS Boards of Directors, I am familiar with the Association’s programs, bylaws, and staff. I am very comfortable with oversight of financials for larger organizations like this one and am able to translate details to broader concepts (and vice versa) easily.

I also maintain the belief that you can always tell what’s really important to an organization by looking at where it spends its money. I’d like to build on a system that is already well-run and ensure that our financial activities match our mission, vision, and organizational priorities. I would also like to make it easier for Directors to track and understand what’s happening financially on a regular basis through simplified reporting and regular “laymen’s terms” updates.” – Bob Van Allen

 

BRR DIRECTOR – (5 Candidates for 1 Opening)

A Director of the BRR Board will advise, govern, oversee policy, and assist with the leadership and general promotion of the association, in support of the association’s mission.

Term: January 2018–December 2020

Becky Enrico-Crum_resizedBecky Enrico-Crum, Andy Enrico & Company Real Estate

Growing up in a real estate family has given Becky a very strong understanding of the importance of service to her clients. As a second generation Realtor with over 20 years helping dreams come true with home ownership, the mentoring and knowledge she has gained along the way is priceless.

She has an outstanding reputation for her “positive” negotiating skills gained over a long career in both real estate and corporate management and sales. Her long-time knowledge of the Boise area as a native and more particularly the real estate market both here and McCall, combined with her “tell it like it is” approach along with her many community contacts are a real asset to her clients.This is why she has so many of her clients referring their friends and family to her.  An active school volunteer, she has been involved with annual fund raising events, Art Mom, Board member and served as PTO President. Operation School Bell was a favorite, which helped clothe kids in need.

She volunteered for her children’s sporting activities & several other youth oriented community organizations, she and her husband most recently housed a Rotary Exchange Student from Slovakia and athletes from Sweden & Canada.

For many years, her and her family have volunteered for both “Paint The Town” and “Rake Up Boise” (annual community volunteer programs for older & fixed-income homeowners who aren’t able to maintain their homes). She’s also an active volunteer in her church.

Becky is a “Graduate of The Real Estate Institute” (GRI) from the National Association of Realtors® (NAR) and a lifetime member of the Boise Regional REALTORS® (BRR) “Circle of Excellence/Top Producer” and BRR’s “Honor Society”. Twice been a nominee for “Tribute To Women & Industry Award”.

Becky believes in giving her time back to her industry and has served on many committees at both the state & local level. These include: “Circle of Excellence Committee”, “Political Affairs Committee”, “Outreach Committee”, “State Convention Committee”. She currently serves on the BRR’s “Foundation Board”, “Outreach Committee” and “Nominations Committee”, and is part of the “Welcome Committee” for Women’s Council of REALTORS®.

She’s a State Director for the Idaho Realtors and President of the Broker’s Council of Idaho. (a marketing group of over 30 “non-franchised” brokerages and affiliates).

Her “fun time” consists of spending time with her family, mountain biking, hiking, wake surfing, downhill & cross country skiing, snowshoeing, cooking & traveling. She enjoys spending time at their family cabin in McCall, a resort community 2-hours North of Boise. Of course, she enjoys Boise State Football Season.

Becky loves working with both buyers and sellers and is committed to continue to treat them as she would like to be treated herself.

“I care deeply about our Association, the staff and members both REALTOR® and Affiliates that make our organization great. As an active REALTOR® since 1996, I am all for the ” Feet on the Street” folks! I work day to day in the “trenches” running my business with my husband. I feel we need to know the latest and greatest in technology, community events, legislative issues and continued day to day politics along with mortgage information to be a true professional to help my clients through the biggest financial decision they will make. Also to share ideas, helpful hints, & mentor each other as professional REALTORS® & Affiliates that make this industry flourish! I would like to be a member of the Board to stay informed & up to date with our industry & to give back in service to our members/affiliates & staff with anything I can share from experience along with help I can give physically. I would like to share in being mentored as a professional and be a mentor where needed. I have learned this is helpful both ways to share with each other. I would be grateful for this opportunity and be honored to serve this wonderful organization. Thanks for your consideration.” – Becky Enrico Crum

 

Brandy Holaday_resizedBrandi Holaday, Keller Williams Realty Boise

Brandi has been a full time licensed REALTOR® in the Treasure Valley since summer 2013. She attributes her success in real estate to her wonderful past mentors who helped her learn the ins and outs of this crazy wonderful world we call real estate! Brandi is available to her clients and does everything she can to anticipate their questions and concerns and be one step ahead and not just provide excellent customer service but LEGENDARY.

She stays involved in the Boise Regional Realtors as a board member of the Young Professionals Network and a board member of the Circle of Excellence Gala Committee 2016 & 17 both appointed positions. She is an active participant in various community events such as Paint the Town. Brandi’s outgoing personality makes her fun to be around, and depth of industry knowledge helps her connect easily with everyone she meets.

Brandi will strive to meet and exceed all of your real estate needs while keeping you informed and most importantly, having fun! So if you have any questions feel free to call her and relax while you put your home search in her qualified hands. She has a genuine interest in your financial well-being for the life of your real estate purchase, and plans for all of her clients to be clients for life!

“I have served on committees for years and now have reached a point where I’d like to take my volunteerism to the next level. I have learned and helped grow through the committees I have served on.  I can help take that knowledge a step further to better our association moving forward to work with like minded professionals to look out for all of our best interests.  Through my work on the Gala Committee I have a new appreciation for our budget, and through YPN I’ve learned all about our impact through RPAC and other association forms of giving back through REALTOR® outreach. More important than just saying I will be there, I have consistently been involved in the association for years and like to think of all of the board professionals as friends and mentors I’ve had the privilege to work alongside.” – Brandi Holaday

 

Elizabeth Hume_resizedElizabeth Hume, Keller Williams Realty Boise

I began my career managing restaurants and developing training programs around the country. I was a national training coordinator for NASCAR Silicon Motor Speedway and an instructor in California training professionals in Microsoft Office. I finally landed back in Idaho where I worked for the Idaho Office for Refugees developing a database and later training users how to use it. I am currently teaching for Boise Regional REALTORS and working at Keller Williams Realty Boise as an associate broker, and working on my IREC instructor application.

Education is important to me, I continually work to educate myself most recently I received my MBA and industry CRS designation. I am actively involved in the community. My notable activities include serving the community with The Junior League of Boise, Learning Lab Board member, PTA executive board member, and other boards and organizations. I spend my free time with family chasing children to various sporting events (lacrosse, gymnastics, golf, etc.) and I like to spend time practicing yoga, reading, camping, skiing, traveling, and riding ATV’s.

I believe that Boise Regional REALTORS® does a great job of linking our REALTOR® community together, I would like to be a part of this organization and help make our association stronger. I have back ground in training and leadership and am ready to participate more in the leadership of my vocation. I feel that we need strong leaders with a strong moral compass to lead our industry. We need people who are willing to lead by example and do the right thing, even when it is hard. We also need these people to have compassion and understanding that we are all people working and learning together. I believe that I have these characteristics.

“I work with a diverse group of buyers and sellers and see their struggles with buying a home no matter what price level of home they are buying or selling. I work hard every day to learn more so I can help these folks have smoother transactions. I believe I am modeling what a great agent is capable of, and want to help others in our industry to do the same.

I have seen the industry change with technology since I started. We need strong leaders to help our members navigate these changes. I appreciate why one agent might choose one model or brokerage over another. As a leader, I feel I work to see both sides of a situation so I can make better decisions.

Today there are many models of real estate to choose from, as an association we need to be able to understand these different models and develop guidelines that are fair to all of them. I have worked hard to understand several of these models and I have been actively involved in real estate through several market shifts. Having strong leadership that can lead during all phases of the market, anticipate membership needs, and communicate effectively is important. I am always striving to become a stronger person and leader than I was the day before.
I believe I have the skills, leadership qualities, interest, and time to help Boise Regional REALTORS® become stronger.” – Elizabeth Hume

 

Jessica Perreault_resized

Jessica Perreault, Silverhawk Realty

I’ve had the privilege of working in Treasure Valley Real Estate for 13 years in multiple capacities ranging from long term escrow to asset management, private investing, title, and residential purchases and sales. It’s been an honor to be a member of the Circle of Excellence and a Top Producer for the last 5 years. I also serve on the RPAC and Public Policy Committees (which I love!) and as a volunteer Planning and Zoning Commissioner for the City of Meridian. My husband and I, fellow Realtor Craig Perreault, comprise the Picket Fence Team at Silverhawk Realty.

My educational background, volunteer, and work experience has uniquely prepared me to serve as a BRR Director. I hold a Bachelor of Science Degree in Political Science and International Studies from Idaho State University, interned in Washington DC for the US Senate and volunteered in US Senators and Congressman offices in Idaho. My husband and I strongly believe in continually educating ourselves for the benefit of our clients and the public. We recently completed our Graduate Realtor Institute designations and will be studying for broker’s licenses this fall.

I enjoy being a part of a brokerage that actively pursues leadership opportunities with Tracy Kasper as the Immediate Past IR President and several fellow Silverhawk REALTORS® on multiple boards across the Treasure Valley. They have been incredible examples and inspirations, showing that being a REALTOR® is so much more than myself or a “job.” it is truly about serving others in my industry, the public, and advocating for home ownership nationwide.

“Our complex and ever changing industry has given me a strong desire to advocate for the needs of my fellow REALTORS®. My goal is to encourage the REALTOR® of Ada County to be the most educated, knowledgeable, and professional representatives possible for the clients we love and serve.  I have a strong vision for REALTORS® to invest financially serve together as a team toward the greater good.” – Jessica Perreault

 

John Thomas_resized

John Thomas, Skyline Realty

Born and raised in Boise, Idaho, John has been in real estate in the Treasure Valley since 2013. After attending Boise State University for business school and beginning a career as a financial advisor, John moved toward real estate and founded Skyline Realty in 2015 with Jordan McCrea. Let his experience in real estate, business, and finance be an asset to you in your home purchase or sale.

“I would like the opportunity to help lead our growing group of REALTORS® in the Boise metro area. With the growth in membership at BRR, we have many new agents who need business development leadership and education to ensure that they are successful, long term members of our organization.”– John Thomas

 

IR DIRECTOR FROM BRR– (1 Candidates for 1 Opening)

The State Director from BRR to Idaho REALTORS® (IR) will advise, govern, oversee policy, and assist with the leadership and general promotion of the state association, in support of IR’s mission. More information about their programs is available at idahorealtors.com.

Term: January 2018–December 2020

Krista Deacon_resized

Krista Deacon, Silvercreek Realty Group

Krista Deacon has been a licensed REALTOR® since 2006 and is currently the Designated Broker of Silvercreek Realty Group in Meridian, Idaho. With more than twelve years of experience in the mortgage finance industry prior to becoming a REALTOR®, she earned her GRI and broker’s license early on in her real estate career. While she’s only been in her current position since 2015, she has earned the respect of her peers and her industry.

She joined the Boise Regional Realtors REALTOR® Outreach Committee within a month of getting her real estate license and has been an invaluable member of the committee and the BRR REALTORS® Foundation ever since. Krista is past president of the Foundation, she is also a member of the BRR Board of Directors, the 2017 Idaho REALTORS® Leadership Academy, an RPAC Major Investor and a member of the President’s Circle.

Krista and her husband Brian stay busy with their four children. They enjoy outdoor activities, traveling and spending time with family.

“I’ve been involved in association matters at the local level for many years.  I’d love the opportunity to see how the state level functions.” – Krista Deacon

 

NAR DIRECTOR FROM BRR– (3 Candidates for 1 Opening)

The National Director from BRR to the National Association of REALTORS® (NAR) will advise, govern, oversee policy, and assist with the leadership and general promotion of the BRR, in support of NAR’s mission.

Term: January 2018–December 2020

Gail Hartnett_resizedGail Hartnett, Keller Williams Realty Boise

Hailing from Long Island…..Gail Hartnett made her way to Ft Lauderdale and then to Boise, Idaho in 1987. She was a cheerleader in high school…… a Tupperware Lady in Florida ……and was licensed as a REALTOR® in February of 1992, Honored in 1998 as ACAR’s REALTOR® OF THE YEAR…..she served as President of ACAR Realtors in 1999. Since 1995 Gail has been a member of the Women’s Council of REALTORS®. She was elected to the National Leadership Team in 2003 and served as the 2006 National President of the Women’s Council of REALTORS®. Gail was the 2007 President of the Idaho REALTORS®.

She is NAR’s Federal Political Coordinator for Congressman Mike Simpson and was honored by NAR as the recipient of the FPC Meritorious Service Award in 2013. A strong believer in RPAC, Gail is a Golden R, President’s Circle member and was inducted into the 2 Star NAR Hall of Fame having invested over $50,000 since becoming a REALTOR®. …….. What does that mean????? It means she puts her money where her mouth is as a passionate advocate for Homeownership and Private Property Rights.

Gail was the 2012 NAR Regional Vice President for Region 12, NAR’s Liaison of the Public Policy and Federal Issues Group in 2016 and is now serving as Vice Chair of the Fair Housing 50th Anniversary Commemoration Work Group which we will celebrate in 2018! Gail will be facilitating the first ever Boot Camp for NAR Chairs and Vice Chairs this August in Chicago.

……and back home in Boise….Gail serves on the Advisory Council the Idaho State Meth Project and Idaho Women in Leadership. In 2001 Gail was a TWIN ….(TRIBUTE TO WOMAN IN INDUSTRY) Award recipient and in 2008 she was honored by Boise State University as a recipient of the “Women Making History” Award.

In 2008, Gail ran for the Idaho State Legislature….Although she did not prevail, many lessons were learned which she is sharing with others interested in running for public office.

Happily married to Ron for 48 years, they have three wonderful grown children….and five PERFECT GRANDCHILDREN….Baxter, their Black Labrador keeps both Gail and Ron “up to speed”….. In her spare time….she’s with those Grandkids….Baseball Tee Ball Gymnastics and what ever else they are doing….

A consistent Top Producer, she is listing and selling Real Estate as the Team Leader of THE GAIL HARTNETT TEAM at Keller Williams Realty BOISE.

“Serving REALTORS®and Consumers is my passion and has been since becoming a REALTOR®. My goal has been to “be the best version of me” always, and to make things better for those who follow. Volunteering to move the association forward is a part of my life as I continue to give my time, talent and energy to the Realtor Organization at all levels. I have much to give at the NAR level which in turn brings our State and Local into the National scene. Serving as NAR Director means understanding the issues that affect all Realtors and the future of our industry. I have and will continue to serve intelligently using my experience and wisdom.” – Gail Hartnett

 

Jim Pauson_resizedJim Paulson, Progressive Realty Corporation

After attending Boise State University, I went to work for Morrison Knudsen Corporation (MK) as a Marketing and Planning Specialist at their world headquarters in Boise. I was transferred to upstate New York where I ran the document control (similar to our MLS database) for a $517 million contract to build over 70 buildings. Then, I was transferred to the Eastern Regional Office outside of Washington, DC where I was in charge of the marketing for the Industrial Buildings Division for MK.

I left the Corporate world in 1991 to become a full-time REALTOR®. During my 25 years as a licensee, I have served as a REALTOR®, Sales Manager, Regional Director and now as the owner/broker of my own independent brokerage – Progressive Realty Corporation.

My professional positions within our industry include being members of multiple committees and leadership positions. My online portal for BRR shows a list of 21 committee/leadership positions which include: Chair of the IMLS New Tech Committee, Professional Standards, Election Committee, Political Affairs, plus all the Board positions I have held including ACAR, IAR & IMLS Board of Directors. I was also the 2010 President of the Ada County Association of REALTORS® and the 2014 President for Idaho CRS.

I am also a Real Estate Instructor for Boise Regional REALTORS® and the National Association of REALTORS®.

I look forward to the opportunity to step it up further as an NAR Director if I am elected!

“As you can see I have been involved in multiple leadership roles over my 25 years a licensed REALTOR®. I have served at the local level, state level and now it is time to step up to the National level as a National Director for the Boise Regional REALTORS®.

I believe my 25 years of personal licensed real estate experience in addition to my experience in leadership at the local, and state level will serve our members well as I step up the national level. I hope to be more involved in evaluating trends and helping our association and its members avoid some of the factors addressed by NAR and other industry leaders. I think my experience on the board and MLS levels will serve our members well. I have a passion for what I do and take the position extremely seriously! I am committed to the time it will take to attend the local Board of Director’s Meetings as well as to be prepared in advance for the national meetings. I sincerely hope that Jim Paulson will be elected to the position of National Director!” – Jim Paulson

 

Susan Weaver_resizedSusan Weaver, Group One Sotheby’s International Realty

I am an active full-time top producing REALTOR® for over 20 years, I am an Associate Broker, GRI, CRS, and E-Pro. While living in Idaho Falls, I was the chair of the association’s Christmas Party and Affiliate Appreciation Party for many years, I was president of the Women’s Council of REALTORS® for the local board and the Treasurer for the State, I was on the agent leadership council for Keller Williams for 3 years, until I moved to Boise, I was on the Board of Directors for the State of Idaho for Idaho Partners for Home Buyers Education until they dissolved, I also taught First Time Home Buyer education for many years.

Currently, I serve as a State Director for Idaho REALTORS®, I have sat on the Professional Standards Panel for the local association, both in Boise and Idaho Falls, I’ve served on the RPAC Committee, and currently am the Vice Chair for the Public Policy Committee. I am also serving on the Community Investment Task Force.

“I am passionate about being active and engaged in the Real Estate community and it is important to me that we all be involved in our industry to help make it better for all, and in the process, help make me a better agent and person as a whole.” – Susan Weaver

Ada and Canyon County Housing Inventory Down for 34 Consecutive Months

At Boise Regional REALTORS® (BRR), we feel like we’ve been talking about low inventory for months… and for good reason.

A few weeks ago, Zillow’s Chief Economist Svenja Gudell posted on Twitter: “Inventory down YoY for 25 consecutive months now. We’re just past 2-years into the #inventorycrisis.” While we never like when the term “crisis” is used to describe the housing market, the sentiment reflects the pressure that many home buyers are feeling caused by the low inventory levels, especially for existing homes.

Gudell’s comments were based on nationwide trends, so what does this look like in the Boise Region?

Based on monthly data, inventory of existing homes in both Ada and Canyon counties has been down year-over-year for 34 consecutive months, starting October 2014. Let’s break this down by inventory (supply) and pending sales (demand)…

Metrics Ada Existing Canyon Existing
Oct-14 Jul-17 % Chg Oct-14 Jul-17 % Chg
Inventory (Supply) 1,702 1,238 -27.3% 886 600 -32.3%
Pending (Demand) 628 1,078 +71.7% 307 537 +76.6%
Months Supply of Inventory 3.2 1.4 -56.3% 3.3 1.5 -54.5%

 

Inventory of existing homes in Ada County was at 1,702 in October 2014 and 1,238 in July 2017, a decrease of 27.3%. In comparison, there were 628 pending sales in October 2014 versus 1,078 in July 2017, an increase of 71.7%. Pending sales are homes under contract that should close within 30-90 days.

Looking at months supply of existing inventory — which takes the number of homes for sale divided by the average number of sales by month — there were 3.2 months in October 2014 in Ada County to 1.4 months in July 2017, a drop of 56.3%. (A balanced market—not favoring buyers or sellers—is typically between 4-6 months supply of inventory.)

In Canyon County, inventory of existing homes was at 886 in October 2014 and 600 in July 2017, a decrease of 32.3%. In comparison, there were 307 pending sales in October 2014 versus 537 in July 2017, an increase of 76.6%. That put months supply of inventory at 3.3 months in October 2014 compared to 1.5 months in June 2017, a drop of 54.5%.

How has the decrease in supply and increase in demand influenced home prices in the Boise Region? The median sales price of existing homes in Ada County increased 34.2% between October 2014 and July 2017, and increased 42.2% in Canyon County during that same period, illustrating BRR’s familiar refrain of how home prices are being driven by demand compared to supply.

Additional information about trends within each county, by price point, by existing and new construction, and by neighborhood, are now available in the July 2017 Market Report. This report includes an explanation of the metrics and notes on data sources and methodology.

Download the latest market snapshot graphics for Ada County and Canyon County:

ADA Snapshot - July 17

CANYON Snapshot - July 17

 

 

 

 

 

 

 

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This report is provided by the Ada County Association of REALTORS®, which began doing business as Boise Regional REALTORS® (BRR) in 2016. BRR is the largest local REALTOR® association in Idaho, with over 4,000 members and two wholly-owned subsidiaries — the Intermountain Multiple Listing Service, Inc. (IMLS) and the Boise Regional REALTORS® Foundation. This report is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com/Statistics/Static.aspx. 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). If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

Boise Regional REALTORS® Foundation Grant Application is Open

The Boise Regional REALTORS® Foundation will be accepting grant applications for its annual competitive grant cycle beginning Tuesday, August 15, 2017, through Friday, September 15, 2017. In 2016, the BRR Foundation awarded nine grants totaling more than $25,000.

The mission of the BRR Foundation is to improve the quality of life in the Boise region through housing-related projects and grants. The two largest fundraisers include the Give-Back Golf Tournament and online auction. Funds for grants are raised throughout the year by BRR members — local real estate professionals giving back to our community.

“The BRR Foundation board is pleased to offer grant opportunities to local organizations making an impact in our community,” said Cyndi Elliot, 2017 BRR Foundation President, and REALTOR® with Group One Sotheby’s International Realty. “By supporting these nonprofits with grants, we are able to make a tangible difference by addressing housing-related and neighborhood needs.”

Since its inception in 1995, the BRR Foundation has provided over $1.7 million in grants to qualifying nonprofit organizations throughout Ada County. Past grant recipients include Boise Fire Fighters Local 149, Boise Rescue Mission, Boise Valley Habitat for Humanity, Charitable Assistance To Community’s Homeless (CATCH), Giraffe Laugh Early Learning Centers, Good Samaritan Home, Life’s Kitchen, NeighborWorks®, The Salvation Army, and the Women’s & Children’s Alliance. The BRR Foundation also offers a matching gifts program for member contributions to local nonprofits.

Find the grant application and learn more about the criteria for consideration at http://boirealtors.com/foundation-grant-application.

 

2017 Mid-Year Housing Summit Recap


Thanks to everyone who attended the 2017 Mid-Year Housing Summit from Boise Regional REALTORS®. If you missed the event, don’t worry! A summary of the discussions and links to the various presentations are available here.

Highlights from the Treasure Valley Policy Survey

Vaughn-BRR presentation_image

Dr. Justin Vaughn, Co-Director of the Center for Idaho History & Politics at Boise State University, presented the highlights from the most recent Treasure Valley Policy Survey, which gauged opinions and perceptions of Treasure Valley residents on a variety of topics, such as living and working in the Treasure Valley, economic development, taxes, education, transportation, and housing.

 

Justin Vaughn

The survey was conducted in September 2016, and the key findings were that residents view life in the Treasure Valley very positively, especially the quality of life, citing it as a good place to raise a family and build a career. The top reasons for living here included low crime, low cost of living, and a strong economy. The survey also found that there is concern about the pace of growth, and divided attitudes among Treasure Valley residents about how to fund affordable housing. For more details on the survey’s findings, download Dr. Vaughn’s presentation.

2017 Mid-Year Residential Real Estate Update

Mid-Year Housing Summit 2017 UPDATED 07122017 - shareable_image

Boise Regional REALTORS® CEO Breanna Vanstrom presented the market update.

Market Update

The Mid-Year Summit is an opportunity to take a step back halfway through the year to evaluate how the market has performed, compared to the same time last year. You can view the slides here, watch a video captured via Facebook Live, or read a summary of Breanna’s presentation below…

BRR Market Update presented by BRR CEO Breanna Vanstrom

Posted by Boise Regional Realtors on Thursday, July 20, 2017

Ada County homes sales are on track to surpass the $3 billion-mark for the first time in 2017. Year-to-date through June 2017, the total dollar volume sold was at $1.46 billion, which was 7.4% higher than the same time last year. The total dollar volume sold Canyon County year-to-date through June 2017, was at $ 417.1 million, which was 14.7% higher than through June of 2016.

BRR’s message to members has been consistent this year and last year: “Our housing market is growing from consumer demand vs. supply — not from speculation as was common a decade ago.” In addition, increased sales prices for newly constructed homes have also been pushing up the total dollar volume figures in 2017.

Three things continue to drive demand for housing in the Boise Region: increased economic development, limited housing supply putting pressure on inventory, and a growing population.

Yet while the actual median sales price continues to trend upwards, based on these factors, the rate at which it is increasing has been slowing down. Year-over-year price gains grew consistently through 2012, led by low mortgage rates and more sales at higher price points.

While the actual median sales price for both counties continues to trend upwards, the rate at which it does so has been more balanced since January 2015. It is important to explain that this slowdown in growth does not mean demand is waning. In fact, year-over-year demand is up, and in just the past few months, the number of pending sales have outpaced inventory.

How does this level of demand vs. supply, increasing (but leveling) prices affect affordability?

The National Association of REALTORS® (NAR) Housing Affordability Index (HAI), and an index value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced existing home. An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced existing home. The higher the number the more affordable homes are in comparison to the median income.

BRR replicated NAR’s formula using local data to calculate HAI for Ada County on an annual basis and compare it to NAR’s index for the country overall. In 2016, Ada County’s HAI was at 174.8, a decrease of 2.8% compared to 2015, but 4.5% higher than the U.S. overall.

Our market is still affordable when compared to the nation as well as the Western and Pacific Northwestern regions. Looking at NAR’s figures, based on metropolitan statistical areas (MSAs), the Boise City-Nampa MSA was more affordable than Salt Lake City, Denver, Portland, and Seattle, in 2016. For markets with similar populations, we were more affordable than Cape Coral, FL, Colorado Springs, CO, and Lakeland, FL, but less affordable than Winston-Salem, NC, Syracuse, NY, and Akron, OH.

Certainly, the local economies, demographics, and other factors of the markets cited affect affordability in each area, but the comparison is a helpful benchmark as Boise’s growing population is a driver of home prices relative to supply.

So what can REALTORS® do to help their clients in these current market conditions? Three things: strategic prospecting, strategic listing terms, and setting expectations.

REALTORS® can look to their prospects and databases to identify property owners who could sell but don’t also need to buy, or buy locally. For example, people relocating for retirement or work, investors looking to cash-out single-family properties; or, “default” landlords — people who retained a home after a move or another purchase because they couldn’t afford to sell it previously (either didn’t have the equity, needed a quick move, etc.) and have been holding that property as a rental.

To help prospective sellers nervous about listing their home and not being able to find a place to move, consider making the acceptance of a purchase offers contingent on the successful purchase of another home or completion of new construction, rent-back agreements, or maybe extended closing periods.

To help keep buyer and seller expectations in line with the market, here are a few tips:

  • REALTORS® can review market comps regularly, talking to sellers about price adjustments or changing terms, based on what has sold, to avoid buyer fatigue or disinterest if the home is on for “too long.”
  • Discuss the differences between offer prices and appraisals, and what to do when there’s a gap.
  • With home inspections, help sellers determine what should be fixed instead of moving on to another buyer who “might not ask them to fix” the repair in question. For buyers, if they ask for too many repairs or concessions, could they lose the house and have to start over?
  • Most importantly, know your market stats specific to your listings — it is not a seller’s market for everyone, so don’t over promise what you can deliver if you know days on market or supply of homes in a particular segment may not generate a quick sale or multiple offers.

Investing in Our Community Panel Discussion

2017 Housing Summit Flyer 7.5.2017 - panel discussion

The last presentation of the summit was a panel discussion featuring Clark Krause, Executive Director of Boise Valley Economic Partnership (BVEP); Georgia Meacham, REALTOR® and housing advocate; Jeff Sayer, Managing Partner at Rectify Horizons; and moderator Chase Craig, REALTOR® and Vice Chair for BRR’s Data Strategies Advisory Group.

The topic of the panel was “Investing in Our Community,” and the discussion focused on developments happening in our region and around the state, as well as resources from the National Association of REALTORS®. The panelists talked housing affordability, innovative ideas for affordable housing, cost of living, quality of education, and wages. They also touched on factors businesses consider when looking to relocate or expand to the Boise region. Two recurring themes in the discussion were talent and infrastructure. We need to invest in, and attract capital for, building infrastructure and educating our workforce, both of which are needed as we continue to grow.

How does this all relate to BRR members? REALTORS® may sell homes, but they also change their communities. Georgia encouraged REALTORS® to get involved at the local, state, and national association level, to participate in the association’s community outreach efforts, and to invest in RPAC (the REALTOR® Political Action Committee) to protect homeownership and the real estate industry.

Panel

Event Photo Gallery

Buyer Demand and New Construction Pricing Drive the Boise Region’s Home Prices to Record Highs

Ada County’s median sales price in June 2017 reached $273,950, an increase of 8.7% over June 2016. The median sales price in Canyon County reached $184,000 last month, an increase of 12.4% compared to last year. Both were record highs.

Three things continue to drive prices up in the Boise Region: consumer demand, lack of inventory, and higher-priced new construction — not market speculation as was common a decade ago.

To measure each of these market drivers, we took a deeper look at activity for pending sales, months supply of inventory, and the median sales price for new construction.

Pending Sales is a key indicator of consumer/homebuyer demand, counting the number of homes under contract that should close within 30-90 days. In June 2017, there were 1,854 pending sales in Ada County, up 7.5% from the previous year. In Canyon County, there were 750 pending sales, up 10.8% from the previous year. In both counties, the year-over-year increase in pending sales was primarily due to new construction as buyers are finding it harder to find existing inventory, especially in the lower price points.

Months Supply of Inventory (sometimes referred to as absorption rate or supply-demand ratio) takes the number of homes for sale divided by the average number of closed sales. A balanced market—not favoring buyers or sellers—is typically between 4-6 months of supply.

In June 2017, the months supply of inventory for existing/resale and new construction combined was at 1.7 months in Ada County, down 15.0% from June 2016. Canyon County was at 1.8 months of inventory in June 2017, down 18.2% from the previous year. Here’s how that breaks down by each segment and by price point:

MSI tables 062017

June’s market data is indicating a more balanced new construction market in Canyon County, at 4.4 months of supply, an increase of 4.8% from last year. Also, buyers who prefer an existing home may have more luck in Canyon County, especially if they’re looking to purchase at $300,000 or above.

Ada County’s inventory for both existing and new lags behind demand in all price points, with a few exceptions: existing or new construction homes priced over $700,000, and at least in June 2017, new construction priced $160-$199,999, primarily in Kuna and Garden City.

Median Sales Price is the price at which half the homes sold for more, and half sold for less. Because more newly constructed homes are selling at higher price points, it’s bringing up the overall median price in both counties.

In June 2017, the median sales price for new homes in Ada County was $345,450, up 14.3% over June 2016. Further, 20.3% more new homes sold in June 2017 than June 2016. In Canyon County, the median sales price for new homes was $239,495, up 6.8% compared to last year, and 33.3% more new homes sold year-over-year.

For comparison, existing home sales in Ada County were down 3.5% year-over-year (due to fewer homes being available to purchase), and the median sales price was at $255,000, up 6.3% over June 2016.  In Canyon County, existing home sales were up 8.9% and the median sales price was at $175,350, up 11.9% over June 2016.

Additional information about trends within each county, by price point, by existing and new construction, and by neighborhood, are now available in the June 2017 Market Report. This report includes an explanation of the metrics and notes on data sources and methodology.

Download the latest market snapshot graphics for Ada County and Canyon County:

ADA Snapshot - June 17CANYON Snapshot - Jun 17

 

 

 

 

 

 

 

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This report is provided by the Ada County Association of REALTORS®, which began doing business as Boise Regional REALTORS® (BRR) in 2016. BRR is the largest local REALTOR® association in Idaho, with over 4,000 members and two wholly-owned subsidiaries — the Intermountain Multiple Listing Service, Inc. (IMLS) and the Boise Regional REALTORS® Foundation. This report is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com/Statistics/Static.aspx. 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). If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

 

Registration is Open for the 2017 Annual Membership Meeting

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REALTOR Registration button

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The BRR Annual Membership is a FREE event for BRR Members!

Not a BRR Member, but want to attend?

Submit the Non-Member Registration and attend for $25/person

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NOW SEEKING VENDORS AND EVENT SPONSORS!

Do you have a product or service you would like to share with REALTORS®? Increase your company’s visibility with BRR members by participating in the Vendor Showcase. You will have the opportunity to attend all meeting sessions, as well as interact with your future clients!

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 2017 AMM Agenda

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Fuel Your Business: Understanding Appraisals Recap

 

At the June Fuel Your Business Luncheon, Donna Jacobsen of Silvercreek Realty Group and Appraise It Now, Jon Nishikawa of 24 Hour Appraisals, and Eric Thornfeldt of Thornfeldt Appraisal Services, Inc., explained the appraisal process, shared their experiences and discussed how agents might help prepare their clients for the appraisal.

The following is a summary of the discussion in a Q&A format; the content has been edited for length and clarity.

You can also watch the Facebook Live recording of this event.

Are there different types of appraisals? How are they different?

There are various types of appraisals — appraisals for loans, or for collateral management. For example, some lenders do quick drive-by appraisals for home equity lines. There are also differences between commercial and residential appraisals. Appraisals can also be done for consulting, pricing, estates, and liquidation, etc., the differences are based on the intended use.

Most appraisals are for conventional, FHA, VA, purchases, and refinances. FHA requires an inspection.

A common misconception is that the value of a property is the price at which a seller is willing to sell. Keep in mind, that is not the figure the lender is asking the appraiser to determine. The lender needs to make certain the loan is secure, based on history and comparables. An agent simply saying, “the market is hot,” doesn’t cut it as a valid comparable.

The appraiser has a lockbox key and can let themselves into the property. Should the listing agent attend the appraisal?

The preference about meeting an appraiser at the property varies by appraiser. They do value an agent’s input and would like to see comparables (and info about the listing, like if there were multiple offers) PRIOR to the appraisal, do so either by meeting at the property, leaving info on the counter, or emailing it to them ahead of time.

Here are some tips if you do decide to meet for the appraisal:

  • Feel free to be there during the appraisal, just don’t hang out with them the entire time. It can be difficult to work quickly if the listing agent is there, talking a lot and/or trying to help with measurements.
  • Appraisers prefer if the listing agent (or an assistant) doesn’t tell them how to appraise a property.
  • Don’t rush the appraiser to finish because you need to leave, you don’t have to present through the whole process.
  • Allow them room to work and don’t distract them when they are trying to focus.
  • TIP: If the listing is vacant and you want the appraiser to contact you before going to the property, change the showing instructions to “See LA.”

What kind of information should real estate agents be providing the appraiser?

Confirm the final purchase price with the appraiser—they may not be aware of counter offers. They don’t appraise to contract price, but it’s good to let them know what the final price is.

Share your logic behind pricing with the appraiser as they don’t want to be “deal killers.”

Provide a list of improvements and/or upgrades. Providing good comparables and any inside information you know about comparables.  Once the appraisal is done, it isn’t likely to be changed. Provide your input upfront, not afterward.

How should agents prepare their clients – buyers and sellers – for the appraisal?

Appraisers aren’t there to inspect a home for cleanliness, but the nicer it is, the easier it is to appraise. Put away dogs, repair anything that’s damaged, pick up clutter, and flush toilets, to make it as presentable as possible. Remember, they will take pictures of all the rooms. If it’s an FHA loan, make sure there is access to the crawlspace and attic. Also for FHA, if the house was built before 1978, advise your seller to fix any peeling paint. Get rid of anything that could cause safety issues, for example, hazardous waste.

What is one thing you wish REALTORS® knew about appraisals?

Appraisers are looking for the most similar, recent, closest sales as comps. They are not trying to prove your purchase price. On pricing, Jon made this analogy, “It’s kinda like a murder scene, appraisers show up, look at the evidence and we come up with a suspect. Agents already have their suspect (or price) in mind, so they look at the evidence, and how to frame who they want to.”

Understand that appraisers have rules they must follow and forms they have to fill out. Forms are “interesting gadgets” that find a way to prove the value of the property, and they require a high comp, low comp, and one comp in between. If they can’t meet that requirement, something is wrong with the appraisal. Appraisers can’t arbitrarily use comparables. Properties need to have “similar utility.”

Price per square foot may be good for marketing but is useless for valuations. Pricing a house per square foot is as relevant as pricing cars per pound. No one is going to trade a white Hyundai for a white Lexus even though they are both the same color, have four doors, and go 65 mph.

When it comes to the appraisal results, keep in mind that the definition of “market value” for Fannie Mae appraisals is the most probable price, not the highest price, not the lowest price, not the purchase price. Lenders want to be sure they are secure with the asset.

What are the consequences for appraisers if they don’t accurately value a property?

If these appraisals hit a certain Risk Score, it goes back out into the field to another appraiser to be reviewed. If the reviewer finds that good comps weren’t used, it can be labeled as fraudulent and/or incompetent, and a discipline process can be started.

How much value do you give to a home with a view, a 2nd or 3rd bay garage, or and RV garage?

It depends. Appraisers use match paired analysis, where they compare the same properties. For example, if the exact same homes are compared and one has the 3rd bay and one doesn’t, and the one with the 3rd bay sells for $8,000 more, then the market says that 3rd bay is worth about $8,000.

There isn’t a set number. Appraising is part science and part art, and the art is learning how the market reacts to different features. For example, construction value is important on the high-end homes and isn’t as important to starter homes.

Should you disclose the appliances to be included in the RE-21, if it’s not on the MLS?

Appliances that are built-in are “fixtures” (with the exception being a stove, which is considered a fixture). Refrigerators, washers, and dryers are considered “personal property” since they can be removed. If someone takes a stove, the value is adjusted because that fixture isn’t included. FHA requires appraisers to state which appliances are included.

What are appraisers required to do now versus three years ago?

Appraisers are now required to take photos of every room, fill out additional forms showing market trends, etc., which has doubled the time it takes to do an appraisal. Forms have been standardized, and they are limited to certain descriptions and ratings that they can use. Appraisers are more micromanaged now than in the past.

What are your hurdles, now that you’re hired by a third party?

There is less pressure from lenders and agents, which is nice.

How much of a challenge is it to add closing costs to the sale price? Does it push on value?

Yes, it does. With FHA, when comparing two of the same homes, and the subject home does not have any concessions, the appraisal will come in $4,000 low. With conventional, it’s a little easier. Just because you up the price for concessions, it doesn’t mean that the appraiser can value it higher. It does make it a riskier loan, and the bank will be sensitive to the value. It’s important to report concessions.

Do you ever look at previous appraisals on a property?

No.

What can a homeowner do to their yard to increase the value the most?

Curb appeal and landscaping helps marketability but doesn’t necessarily impact the value, since landscaping is a personal preference. However, sprinkler systems do add value. A really nice paver system and outdoor kitchen may be considered in reconciling final value, but not as a line item adjustment.

Are the fees for appraisals changing?

Nationally, our area is still inexpensive when it comes to appraisals. In Portland, they are paying $1,200 for an appraisal if they want to get it back in two weeks. For a standard appraisal in our area, the range is about $375-$600.  VA is changing the appraisal fee to $600 on July 1, 2017.

If an agent has an appraisal come in low and knows of another comp that will close in the next few days, is there a reconsideration of the value that can be done with that comp closing?

If you’d like the appraisal to be reconsidered, the first thing you can do is read the appraisal. Look for mistakes — if there is a mistake, the odds are much better that you’ll get a reconsideration. Your comps need to be a good alternative to the comps the appraiser used.

They value the property based on the date of the appraisal. If you know a deal like that is coming up, tell the appraiser before, so they can deal with it.

They are required to use three to four comps on sold, one or so on active, and one or so for pending. FHA is now asking for two actives and two pendings.

At what point does a square footage discrepancy (between public record and what the appraiser measures) impact value?

Don’t rely on public records for square footage, assessors often get the square footage wrong. Measure your listing yourself and then correct the square footage in the MLS.

Any discrepancy from +/-50-100 square feet will make an adjustment, or if it’s a very large home, a difference of +/-200 square feet will be an adjustment to value. When looking for comps, look for ranges in square feet above and below the listed size.

 

Boise Regional REALTORS® Paint Five Boise Homes

Local real estate professionals volunteered their time and resources by participating in this year’s Neighborworks® Paint the Town™, painting the homes of deserving residents who are unable to do it themselves. If you’ve ever painted a house, you know that this isn’t an easy task. Teams schedule working times with homeowners, perform hours of prep, painting and clean up. BRR teams often go above and beyond, trimming bushes and trees, and making repairs to the home prior to painting. One homeowner commented, “This is a better paint job than if we’d hired someone to do it!”

This year, BRR had five teams participate: Lysi Bishop Real Estate and Keller Williams Realty Boise painted house #1; The Independent Broker’s Council painted house #2; Coldwell Banker Tomlinson Group painted house #3; AAD Inspection and Silvercreek Realty Group painted house #4; and BRR Young Professionals Network, Silverhawk Realty, and Templeton Real Estate painted house #5.

BRR Foundation has donated nearly $100,000 as a sponsor of Paint the Town™ since the foundation’s inception in 1995. Sponsorship funds help cover the cost of paint and materials for the event. The REALTOR® Outreach Committee (ROC), the working arm of the BRR Foundation, helps recruit volunteer teams and match teams with homeowners. If you’re interested in getting involved with ROC, BRR is currently accepting applications for 2018 committees. If you’d like to volunteer for next year’s Paint the Town™, we will share details on how to sign up in early spring 2018.

Thank you to our volunteers, and to everyone who supports the BRR Foundation. Your efforts reflect the fact that REALTOR® and affiliate members are committed to giving back to our community.

2017 Paint the Town Photo Gallery

Boise Regional REALTORS® Young Professionals Network (BRR YPN), Silverhawk Realty, and Templeton Real Estate teamed up to form one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Volunteers pose with homeowners in front to nearly finished paint job.

Boise Regional REALTORS® Young Professionals Network (BRR YPN), Silverhawk Realty, and Templeton Real Estate teamed up to form one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Volunteers pose with homeowners in front of the nearly finished paint job.

Coldwell Banker Tomlinson Group

Coldwell Banker Tomlinson Group was one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Painters busy at work on Saturday, June 10, 2017.

Independent Brokers Council

The Independent Broker’s Council was one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Volunteers in front of the house in progress.

Lysi Bishop KW with homeowners

Lysi Bishop Real Estate and Keller Williams Realty Boise House teamed up to form one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Lysi Bishop Real Estate and Keller Williams Realty Boise volunteers gathered around the homeowners (centered) in front of the newly painted house.

AAD Inspection Silvercreek Realty Group

AAD Inspection and Silvercreek Realty Group teamed up to form one of the five teams participating in Paint the Town with Boise Regional REALTORS®. Volunteers putting the finishing touches on the freshly painted home.

Boise Regional REALTORS® Golf for a Cause

Local real estate professionals raised over $20,000 at the 2017 Stan Thomas Give Back Golf Tournament benefiting the Boise Regional REALTORS® (BRR) Foundation, whose mission is to improve the quality of life in the Boise region through housing-related projects and grants. The golf tournament was held June 1, 2017, at Eagle Hills Golf Course with 136 golfers and 36 sponsors participating. As one of the largest annual fundraisers for the BRR Foundation, this year’s event was a tremendous success, raising nearly $2,500 more than in 2016.

The tournament is named in memory of Stan Thomas, a real estate professional and avid golfer, who was actively involved in serving our community for many years.

Since its inception in 1995, the BRR Foundation has provided over $1.7 million in grants to qualifying non-profit organizations throughout Ada County. Past grant recipients include Boise Fire Fighters Local 149, Boise Rescue Mission, Boise Valley Habitat for Humanity, Charitable Assistance To Community’s Homeless (CATCH), Giraffe Laugh Early Learning Centers, Good Samaritan Home, Life’s Kitchen, NeighborWorks®, The Salvation Army, Women’s & Children’s Alliance. The BRR Foundation also offers a matching gifts program for member contributions to local non-profits.

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2017 Event Photo Gallery

Thank you to our 2017 Sponsors!

2017 STGBG Tourny Sponsors

Sellers Take Note: No Signs of a Slow Down in Summer Home Sales

In May 2017, the average Days on Market (the cumulative number of days between when a property is listed and when it goes pending) for homes in Ada County was at 33 days and Canyon County was at 36 days. Factor in an additional 30-60 days to close and homes listed in the upcoming weeks may sell at some of the highest prices of the year. Based on monthly averages going back to 2004, homes that close in June, July, and August typically fetch the highest prices.

While inventory of existing homes is still tight in both counties compared to last year (down 15.3% in Ada County and down 20.6% in Canyon County compared to May 2016), there have been month-over-month improvements in the number of existing homes for sale, as more sellers hope to secure a summer closing.

  • February to March 2017, existing inventory grew by 8.8% in Ada County and by 23.2% in Canyon County
  • March to April 2017, existing inventory grew by 19.8% in Ada County and by 4.7% in Canyon County
  • April to May 2017, existing inventory grew by 25.3% in Ada County and by 14.2% in Canyon County

These inventory numbers are encouraging but more existing homes — especially priced under $300,000 — are needed to keep up with buyer demand.

The low inventory combined with the rate of pending sales resulted in an 11.8% year-over-year decrease in months supply of existing homes for sale in Ada County, ending at just 1.5 months of inventory. In Canyon County, the months supply of existing inventory was at 1.3 months in May 2017, down 23.5% year-over-year. (A balanced market is typically between 4-6 months of supply.)

Demand for new homes remained strong as this segment saw a 23.8% year-over-year increase in pending sales in Ada County and 20.1% in Canyon County. The months supply of new inventory was at 3.8 months and 4.2 months for Ada and Canyon counties, respectively, as of May 2017.

Additional information about trends within each county, by price point, by existing and new construction, and by neighborhood, are now available in the May 2017 Market Report. This report includes an explanation of the metrics and notes on data sources and methodology.

Download the latest market snapshot graphics for Ada County and Canyon County:

ADA Snapshot - May 17CANYON Snapshot - May 17

 

 

 

 

 

 

 

 

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This report is provided by the Ada County Association of REALTORS®, which began doing business as Boise Regional REALTORS® (BRR) in 2016. BRR is the largest local REALTOR® association in Idaho, with over 4,000 members and two wholly-owned subsidiaries — the Intermountain Multiple Listing Service, Inc. (IMLS) and the Boise Regional REALTORS® Foundation. This report is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com/Statistics/Static.aspx. 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). If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.