Boise Real Estate

VISIT OUR PROPERTY MANAGEMENT SITE

Feliciatodd — Fri, 30 Mar 2012 18:17:07 +0000

WWW.FSGRENTS.COM

Contemporary style condo in downtown Boise!

Whitney Browning — Wed, 02 Nov 2011 19:11:39 +0000

412 S 13th unit #409 Boise, Id 83702 2 Bedroom 2 bath 1478 Square feet. Contemporary style condo in the heart of downtown Boise! Secure under ground parking spot. Top of the line amenities include granite countertops, stainless
steel stove & hardwood floors. Amazing views of downtown Boise and the
mountians from two large balconies. Just minutes away from everything downtown
has to offer, shopping, schools, entertainment and BSU.

First Service Group Educates you on Short Sales

Whitney Browning — Sat, 29 Jan 2011 00:54:17 +0000

What is a Short Sale?

REO/Foreclosure on a home can be very traumatic on a family, the community, the housing market, and the economy. However, the option for a short sale provides a way for homeowners who are in trouble to prevent foreclosure and many of its repercussions.

What is a Short Sale? A short sale is an agreement in where your mortgage lender agrees to accept a payoff on the loan for less than the balance of the home. Lenders may agree to a short sale because they receive more of the loan balance in comparison to the amount they would get from selling the property following a foreclosure. This process also help the community maintain its property values and helps the homeowner maintain a better level of credit compared to going into foreclosure. Most of the time, homeowners considering a doing a short sale must meet strict guidelines to qualify: you must be behind in your mortgage payments, provide evidence of economic hardship, and have little or no equity in the property.

A short sale is not a normal real estate transaction. A typical real estate transaction involves the seller of the home and their real estate agent, the buyer of the home and their lender, and their real estate agent. During a short sale situation, all of those parties in addition to the seller’s loan servicer, a housing counselor, any junior lien holders, mortgage investors, and insurers may be involved too.

Because there are so many parties involved in a short sale, the process can be confusing to complete without a Realtor to help you. You will want to get the advise and knowledge of a Realtor who has your wellbeing in mind and will accelerate the short sale transaction. It is very important to have a Realtor who won’t miss a detail that could holdup closing the transaction in a timely manner and to the needs required by all parties involved. A qualified Realtor with experience and familiarity in a short sale will also be able to find a qualified buyer to complete the transaction successfully. Homeowners agreeing to a short sale will also be able to consult a tax expert and attain the services of a attorney to help protect themselves from any future claims by the lender.

HAFA: Home Affordable Foreclosure Alternatives

The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative overseen by the US Treasury Department and administered by Fannie Mae assisting all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure, specifically through short sales or deeds-in-lieu of foreclosure. HAFA was announced on November 30, 2009 in a HAMP Update titled Introducing the Home Affordable Foreclosure Alternatives Program.

HAFA directs lenders to assist eligible homeowners in quickly and effectively implementing short sales or deeds-in-lieu by providing financial incentives to lenders that carry out foreclosure alternatives through the program’s guidelines set forth in Supplemental Directive 09-09 Revised (revised March 26, 2010). The program was introduced in part with the intent to remove the stigma from short sales and help keep communities from being destroyed through massive foreclosures. HAFA in its current state is only applicable to conventional-type, non-Governmental Serviced Enterprises (non-GSE) mortgages and therefore does not apply to loans owned or guaranteed by Fannie Mae or Freddie Mac.4 These organizations may have plans to release their own versions of HAFA.

If you’re a homeowner looking for answers, if you would like to determine if you qualify for HAFA, or if you need an experienced realtor call First Service Group Real Estate at 208-343-9393 or fill out the form below and we will call you. We are locally owned and operated in the Boise, Area.

First Service Group Helps Boise Home Sellers

Whitney Browning — Fri, 28 Jan 2011 17:13:15 +0000

Selling Your Home

Selling your home involves much more than just placing a “For Sale” sign in your yard and going to the closing. First Service Group is here to help you prepare your home for sale, market your home, and guide you through the sale process to ensure you sell your home within your time frame and get the best price possible.

We will determine the correct price range for your home, point out things you should do to make your home more appealing to buyers, and devise the most effective plan of action. Here are some of the steps we will take with you to sell your home:

Go over the selling process, without the technical jargon.
Perform a comparative market analysis.
Determine the list and target prices.
Market your property.
Keep communication open.
Present the purchase agreement.

Factors That Affect Your Home’s Sale
There are three main factors that determine how marketable your home is–price, financing, and time:

Price - If your home is priced too high, you must be willing to wait much longer for your home to sell. Either it will take that much longer to find someone to pay more than the home is worth, or the market will eventually catch up to the asking price of the home through inflation.
Financing - You may not realize it, but the financing of your buyer can have a tremendous impact on the success of selling your home. Try to offer very attractive financing options. Consider carrying the financing yourself at a below-market interest rate or preparing your home for government financing. This could open the door for many buyers that otherwise wouldn’t even consider your home.
Time - If your time frame is important then you must be willing to lower the price.

How Much Should You Ask for Your Home?
Of course you want to get the full market value for your home. The first step to getting the best price is to determine the home’s value. We can help you set an asking price by taking the following factors into consideration:

Your home’s value may depend on recent selling prices of comparable homes in your area. After reviewing the selling prices for such homes, the price is adjusted according to current market trends.
Buyers most likely look in the price range determined by their monthly payment ability and down payment. Buyers are often very knowledgeable in their price range and purchase by comparison. Unreasonable asking prices are an immediate turn-off.
Inviting a potential buyer to make an offer shows that you are willing to bargain. But if your asking price is outrageous, the buyer’s offer will most likely also be unreasonable.
It’s necessary to offer pricing, terms and conditions that are competitive in your market. This will help you sell faster and get the full market value.

Contact us today and we will give you a free comparative market analysis using the factors above to give you an accurate market value. For a limited time we will also create a free marketing plan for your property that will show you why listing with us will make your home sell faster.

First Service Group Helps Home Buyers

Whitney Browning — Thu, 27 Jan 2011 21:28:57 +0000

Buying a home is an exciting but often overwhelming experience, particularly if you are buying your first home. First Service Group can help you through the home buying process and assure that you find the right home for you, at the right price for you.
All home buyers have a number concerns, all of which we can help you with:

Setting a time frame. There are a lot of variables in the home-buying process, which means the time it takes to find and buy your new home varies too. A typical home search process may take three to four months, including the mortgage approval process, comparing and evaluating properties, making an offer and the closing process. The loan process typically takes 30-45 days.

The lending process. Perhaps one of the most intimidating aspects of buying a home is the mortgage approval process. We’ll be here to help guide you through this, but there are many ways you can prepare early to make the process smoother. Start by making sure your budget is under control? make a list of all your monthly expenses, compare it with your income, and see if Mdjustments need to be made. You should also try to pay off small credit card balances. Start gathering documents you may need, such as W-2 forms, income tax returns for the past few years, pay stubs, records of child support or alimony, bank statements for the past several months, and your credit report. Also, be sure to allow for closing costs. Getting several offers will allow you to compare loans and get the best deal.

Determining how much you can afford. A general guideline to consider is that most buyers purchase a home that costs about one and a half to two and half times their current annual income. For example, someone earning $50,000 a year might purchase a home for $75,000 to $125,000. Mortgage payments should be about 26-28 percent of your gross monthly income. Existing debt is also considered in the mortgage process, and total debt payments (car payments, credit cards, student loans, etc.) should not exceed 40 percent of your gross monthly income.

Finding a home that meets your needs and wants. Before you start looking at properties, make a list of “must-have” features along with optional features you’d like to have. “Must-have” features may include the number of bedrooms and bathrooms you’ll need to accommodate your family, location (consider commute to work, which schools your children will attend, etc.), lot size and special needs (handicapped access, etc.). Optional features may include the architectural styling, bay windows, landscaping, etc. Having a clear idea of what you want in a home will help First Service Group find the perfect property for you.

Educating yourself about the home-buying process is key to getting a home you love and can afford. As your REALTORS®, we are here to answer any questions you might have and guide you through this process.

Tax Credit Information:

Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
-All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits
Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
-For married couples filing a joint return, the combined income limit is $225,000.
-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.

Effective Dates
-The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.

Types of Homes that Qualify
-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify.

Tax Credit is Refundable
-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

-For example:
-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.

Payback Provisions
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

For More Information Visit: http://www.federalhousingtaxcredit.com/