2018 Mid-Year Housing Summit Recap

Thanks to everyone who attended the 2018 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.

Links and resources referenced at the Mid-Year Housing Summit:

FH ClassInvest in RPACAmm

**Please note: The RPAC investment information on this page is only intended for BRR members.

2017 Boise School District Bond Update

2017 Boise School District Bond Update

Coby Dennis, the Deputy Superintendent of the Boise School District, provided a progress report on the various projects funded by the 2017 school district bond. Boise Regional REALTORS® endorsed and supported this successful campaign last year.


Fair Housing Update

Fair Housing Update

Debbi Myers, certified real estate instructor and BRR Director, discussed the importance of understanding fair housing in our industry and gave a teaser on the upcoming fair housing class that was refreshed in honor of the 50th anniversary of the Fair Housing Act.

Ready to learn more about fair housing? Join us for a Lunch & Learn: That’s Not Fair! How to Avoid Fair Housing Violations, on Tuesday, October 23, from 12:00 p.m. – 2:00 p.m. Register today!


2018 Mid-Year Residential Real Estate Update

2018 Mid-Year Residential Real Estate Update

Breanna Vanstrom, Chief Executive Officer for Boise Regional REALTORS®, dug into the data and identified the trends regarding price, supply, demand, inventory, and strategies for building your business during the 2018 Min-Year Residential Real Estate Update. You can watch her full presentation on Facebook Live below. Thank you to our Facebook Live Sponsor, Idaho Housing and Finance Association.

“Getting to Solutions” Listening Session on Growth

Getting to Solutions

Soren Dorius, Director of Government Affairs for BRR, started the listening session by sharing some key findings from the Second Annual Treasure Valley Survey a survey conducted by BSU to explore public opinion on growth, transportation, and other issues. This project was funded in part by a $15,000 Smart Growth Grant secured by BRR.

The group shared ideas and solutions about how to maintain the quality of life during this time of growth, thoughts on what area would be the next good candidate for higher density projects, what features and places need to be “off limits” to development, the role of transportation, how REALTORS® can participate in public meetings, and much more.

PHOTO GALLERY

Thanks to our event sponsor and annual sponsors for making this event possible!

FB Live sponsor

2018 Annual Sponsor Poster v3 - compressed

 

Residential Perspective on the Recent BOMA Meeting

A few members have asked for our thoughts on the IBR article about a recent BOMA meeting.

At that event, speakers discussed the need for commercial real estate professionals and developers to prepare for a market downturn and understand the elements that are transforming how the commercial market operates.

On the residential side, Boise Regional REALTORS® (BRR) and other industry economists, do not sense a major downturn is imminent in our local housing market. In contrast to the commercial market, the residential market is peaking, at least in terms of prices, due to exceptionally low inventory levels compared to the number of buyers moving into our area. It’s classic supply and demand that is pushing up prices.

As noted the IBR article, all markets are cyclical, both commercial and residential. In the housing market, many cite economist Homer Hoyt, who found an 18-year cycle between market peaks. Looking out from the last market valley, some economists are forecasting that the housing market will continue to grow through 2024 or 2026, with market fluctuations between now and then, barring any unforeseen world events or disruptions.

The hope is that when the market cycles back down, it won’t drop back into a recession, but shift back to a more balanced market for buyers and sellers. BRR will continue to watch trends in prices, inventory, unemployment, wages, and economic development, and educate our members on any changes.

While BRR does not make official forecasts, we agree with the sentiment that to survive in real estate long-term, agents must be able to adapt. That requires a solid foundation of professional practices and knowledge, while continuously learning about new trends, consumer needs, advances in technology, and changes to legal and regulatory environments.

For more information on the market stats tracked by BRR and a monthly take on the residential market, visit boirealtors.com/category/market-info.