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TripleCord Review
November 2021

  Becka Marston

   Residential REALTOR®
   Direct (208) 957-8017

   Becka@TripleCordRealEstate.com
   TripleCordRealEstate.com/Becka

Meet Becka
Testimonials
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Buyers Guide
Sellers Guide

 
Come follow me on Instagram or Facebook @BeckaSellsBoise

With the shift in weather, we’ve seen a shift in the Boise real estate market too.  Though homes are still selling for near record highs, we experienced a slight 0.2% drop in the median sales price from September to October.  It’s been refreshing to see the market cool a bit.  There are still some homes that receive multiple offers within the first few days on the market and sell for over asking price.  But, for the most part, the process of buying or selling a home seems a bit less frantic than it has been in the last several months.

Much of this shift has to do with increased inventory. Last month, there were 703 available properties for sale in the Boise market.  This was an increase in inventory of more than 300% from October 2020!  In those months when inventory was at its lowest, competition was high, influencing buyers to pay over list price to get their desired home. This led to more than half of all homes that sold in October 2020 through July 2021 to sell for over list price.  Since July 2021, as more inventory has become available and competition has eased, the number of homes selling for over list price dropped significantly to 26.15% of all home sales in October 2021.
    
Although the market is becoming less and less frantic as supply moves closer and closer to present demand, every house and situation is different, and there are still many steps to navigating a successful purchase or sale.  So, please give me a call!  I know the market well and am experienced in helping buyers and sellers make wise and informed real estate decisions.  I'd love the opportunity to answer your questions, share what I know, and walk alongside you in the process!

For more information and specifics on the current market, please check out Boise Regional REALTORS® Market Report HERE.  
Boise Area Events Calendar

The holiday season is upon us and there are lots of ways to celebrate!  Check out our event calendar HERE for the latest local happenings.  Some events may change, so please make sure to check the website links for the most up to date information.
What Does the Future Hold for Home Prices? 
by Keeping Current Matters

If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall?

To answer that question, let’s first understand a few terms you may be hearing right now.

  • Appreciation is an increase in the value of an asset.
  • Depreciation is a decrease in the value of an asset.
  • Deceleration is when something happens at a slower pace.

It’s important to note home prices have increased, or appreciated, for 114 straight months. To find out if that trend may continue, look to the experts. Pulsenomics surveyed over 100 economists, investment strategists, and housing market analysts asking for their five-year projections. In terms of what lies ahead, experts say the market may see some slight deceleration, but not depreciation.

Here’s the forecast for the next few years:

As the graph above shows, prices are expected to continue to rise, just not at the same pace we’ve seen over the last year. Over 100 experts agree, there is no expectation for price depreciation. As the arrows indicate, each number is an increase, which means prices will rise each year. 

Bill McBride, author of the blog Calculated Risk, also expects deceleration, but not depreciation: “My sense is the Case-Shiller National annual growth rate of 19.7% is probably close to a peak, and that year-over-year price increases will slow later this year.”  Ivy Zelman of Zelman & Associates agrees, saying:  “. . . home price appreciation is on the cusp of flipping to a decelerating trend.”  A recent article from realtor.com indicates you should expect:  “. . . annual price increases will slow to a more normal level, . . .”

What Does This Deceleration Mean for You?
What experts are projecting for the years ahead is more in line with the historical norm for appreciation. According to data from Black Knight, the average annual appreciation from 1995-2020 is 4.1%. As you can see from the chart above, the expert forecasts are closer to that pace, which means you should see appreciation at a level that’s aligned with a more normal year.

If you’re a buyer, don’t expect a sudden or drastic drop in home prices – experts say it won’t happen. Instead, think about your homeownership goals and consider purchasing a home before prices rise further.  If you’re a seller, the continued home price appreciation is good news for the value of your house. Work with an agent to list your house for the right price based on market conditions.

Bottom Line
Experts expect price deceleration, not price depreciation over the coming years. Talk to a local real estate professional to understand what’s happening in the housing market today, where things are headed, and what it means for you.
Testimonial
 
"We cannot say enough positive things about Becka and the professionalism and care she provided us. She helped us buy a build job in Idaho while we were living out of state. Becka always responded quickly to our questions and solved any problems that came up with our builder right away. Becka went above and beyond sending us weekly videos with updates of our house and made sure everything was going smoothly, contacting the builder when something wasn't right. We are incredibly thankful for her and would HIGHLY recommend her to anyone looking to buy or sell their home in the Boise area."
Jaime & Tyler Green (June 2021)
 
See more of my client testimonials HERE!

Recommended Service Providers
Do your fall plans include a remodel or necessary home maintenance or repairs?  If so, check out our Homeowners Resources page HERE, where we've listed several different service providers we've used personally or who have been recommended to us.  We are always updating this list, so if you have contractors to recommend, please email me!  
Untold Stories of a Boise Realtor
 
Some wonderful buyers of mine just closed on an incredible homestead for their family in Emmett.  Two sisters and their families purchased 20 acres that was split into 4 5-acre lots.  The lots will be used between them and their kids to build their new and glorious Idaho life.  It’s just the very best.
 
Everything about this transaction was a little unique, which kept things exciting the whole way through.  Two sisters and their husbands buying land together.  Working with a small town and county to push paperwork through.  Splitting the land into smaller parcels.  Building new roads.  But with perfect cooperation between the buyers and sellers, we accomplished great things and now my buyers will be calling this piece of land their new home!
 
That cooperation between the buyers and sellers sure came in especially handy when the closing date was missed.  The buyers already had plans to come up and stay on the property, which now required permission from the seller.  So they chatted and made a deal that if the buyers would keep the sellers’ cows for an extra day, they could go ahead and stay on the property.  Ha!  This is the Idaho way and I love it!
 
Once we did close, I got to go out and meet this great family on their new property.  They couldn’t wait to tell me about their meeting the sellers the day before.  The buyers arrived to the property to see the sellers (a young, sweet couple and their four tiny kids) chasing their cows and chickens around trying to corral them to get them in the trailer to move.  So one of the buyers takes the baby and the others join in the efforts to get all the animals gathered and into the trailer.  When all was said and done, this great team had loaded 2 cows and 26 chickens into the horse trailer and off the sellers went to their new life in Wyoming towing their 5th wheel full of their belongings and behind that, their horse trailer full of their animals. 
 
I LOVE this story so much!  It is such a great example of how we do things a little differently in Idaho.  I see this a lot as I work with so many clients from out of state.  Here, we tend to trust each other a great deal and we usually work together to get the job done.  It’s the very best!

 
Becka's Recent Activity
PENDING
25 Days on Market
676 E Cloverhill Ct, Eagle
$1,250,000
Representing Sellers 

 
SOLD
5505 Joseph Ln, Emmett
$899,000
Representing Buyer
PENDING
3004 N Moonshadow Ave, Kuna
$504,990
Representing Buyers
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