437 W Timbercrest Loop McCall

Looking for an amazing getaway without the price tag and hassle of whole ownership in a home located close to Shore Lodge, Rotary Park at Payette Lake, and Payette River. This well appointed home features Wolf appliances and SubZero Fridge, not to mention fully furnished with the 4th bedroom as a bunk room with 4 beds, a pool table, and beverage area. Located close to town, yet tucked in the trees with a sense of space while your sitting around the fire pit OR in front of the outdoor fire place. This home has everything your looking for, please contact now for more information and to schedule your private showing.

Listing Price: 25,000
Address: 437 W Timbercrest Loop
City: McCall
State: Idaho
ZIP: 83638
MLS # (if any): RF521927A
Square Feet: 3173
Bedrooms: 3
Bathrooms: 3.5
Acreage: 0.24

To Sell Or Not To Sell

Do you find yourself thinking about whether or not to sell your house? Do you browse the MLS in your free time just to see what’s on the market? Does every house with a For Sale sign grab your attention? If so, it might just be time to sell. As you contemplate your decision, there are many factors to consider, including the current state of the real estate market as well as your lifestyle and financial situation.

After years of housing recovery, today’s real estate market is continuing to experience a shortage of inventory among homes. That makes it total seller’s market at the moment, which should affect your decision. But, aside from being a seller’s market, let the following five items help you determine whether or not you are ready to move on.

1. Feeling claustrophobic?

If you’re getting frustrated because you are feeling overcrowded in your home, or if you don’t have enough space for guests to sleep, then you may be ready to sell. Maybe your kids are outgrowing their rooms (literally) or you’re thinking about adding to your family. These are also signs that it’s about that time.

2. You’re not in love with your home anymore.

As you start going through the selling process, things will be a lot more difficult for you if you still have some sort of emotional attachment to your home. Being this connected decreases the likelihood that you’ll even want to listen to the real estate agent’s advice. In order to sell, you need to be able to view your house as a product.

3. It makes financial sense.

This is one of most significant factors when it comes to selling your home and moving somewhere else. Are you financially ready to make the leap? Review all costs and expenses related to selling, including moving costs, as well as the down payment and closing costs on your new home. Most importantly, have a game plan.

4. You have equity in your home.

Ever since the housing market crashed, homeowners now have a tendency to be skeptical about putting their home on the market to sell. Thankfully, real estate has come back in full force. Increasing numbers of homeowners are getting their positive equity back and negative equity rates are at their lowest since 2012. Now is the perfect time to see where your equity stands. Do some research and have your home reappraised.

5. You are ready to make your decision.

Making the decision to sell your home can be difficult, but you don’t have to do it alone. Call Haden Tanner for expert advice that will make the selling process as smooth as possible. By considering all factors and working closely with a local realtor that knows the area well, you’ll be able to decide what is best for you and your family.

So, are you ready to list your home? Call Haden at (208) 315-2242.

Source: The Real Estate Book

Advice for First-Time Home Buyers

Buying a house is possibly the largest purchase you will ever make. For first-time home buyers the process is both exciting and scary at the same time. While there is a lot to think about, the process need not be too difficult. Read on for advice from others who have been there before you.

Be Financially Prepared By Saving Early

DOWN PAYMENT: The earlier you start saving for a down payment the easier it gets. By having a down payment of 20% or more you will save thousands over the course of the loan on private mortgage insurance (PMI). Plus, by getting in the habit of saving early on, you can transfer that skill to account for the costs below.

OTHER COSTS: When you buy a home you’ll need to come up with closing costs such as an appraisal and loan origination fees. Down the road you may have an annual payment for Home Owner’s Association dues, property taxes and/or homeowner’s insurance. By having a savings account to pay for such items, you can comfortably make these payments as they arise.

EMERGENCY COSTS: As a homeowner you don’t get to call the landlord whenever something needs to be fixed. You need to be prepared to replace that broken water heater, fix the AC or deal with other problems that may arise without going in to debt.

Do Your Research

GET PRE APPROVED: It does you no favors to start looking at homes until you know what you can spend. Plus, sellers prefer bids from prospective buyers who already are pre-approved for a loan. While a lender is not legally bound to honor the terms of a pre approval, by going through the process early on there are fewer surprises when it comes to the real deal.

BUDGET: Know what you can spend. It is too easy to overestimate what you can afford, so make sure to come up with a realistic budget. Typically utility costs increase when you go from renting to owning. And then there is property insurance which costs more than renters insurance. Expenses you wouldn’t have had as a renter include property taxes and property maintenance, both inside and outside. And don’t forget about living costs such as vacations, hair cuts, entertainment etc. Having a realistic budget will help you keep the cardinal rule of home-buying: Do not overspend.

UNDERSTAND THE MARKET: The housing market constantly fluctuates based on supply and demand, the condition of the economy, and interest rates to name a few. Fortunately for first-time home buyers, you can watch the market and make the move to purchase a home when it is a buyers market. Beware of waiting too long for prices to drop however, as prices can jump quickly as inventory fluctuates. Use resources such as website, newspapers, magazines, and your realtor to help you understand the market.

KNOW THE HOOD: You can change a lot about a house, but the number one thing you can’t change is its location. When you buy a home, you’re not just buying a house, you’re buying the neighborhood. Get to know the surrounding area before you submit an offer and fully commit to the purchase. Perhaps consider renting before buying in a specific area.

When You’ve Found “The One”

HOME INSPECTION: Home inspections provide you with some protection. The inspector will be able to find problems that you can’t and you’ll want to know these problems before you sign on. Plus, if the home inspection reveals serious defects that the seller did not disclose, you’ll generally be able to rescind your offer and get your deposit back. Make sure to walk through the home with the inspector and ask lots of questions. Do another walk through without the inspector and look at things more slowly. If the house needs some TLC make sure to put these in the contract as contingency clauses.

BEWARE OF BLINDERS…BUT DON’T LACK VISION: When you’ve fallen in love with a house, it’s easy to overlook things that may not be quite right. That’s why it’s important to bring a family friend or relative along. Since they aren’t buying the property themselves, they’re more likely to see it for what it is. But, on the flip side, don’t let little things scare you away. Some problems can be fixed, or at least endured until you are able to fix them. By being too nitpicky you may miss out on the chance to live in a great neighborhood well situated for you.

SHOP AROUND: Look at more than one mortgage broker and more than one insurance agency. It’s surprising how much rates and costs can fluctuate so do your due diligence and check out more than one agency.

Good luck to those first-time home buyers out there. This is a very exciting time but make sure to be prepared going into the process.

Getting a Mortgage When Self-Employed

Being self-employed certainly has its perks, especially at tax time. One big downfall however is when it comes time to purchase a home. Navigating the mortgage process when buying a home is challenging for anyone, but when self-employed the process can become formidable. Fortunately, by planning ahead, you can work through any issues beforehand in order to make the process smoother when the time comes.

Notice the key word here…ahead. Without being able to show steady income via a pay stub, you need to be able to show steady annual income. That means having at least two years of taxes that show an amount sufficient for lenders to determine that you can make your monthly payment. Lenders will typically calculate your average “monthly income” by adding your Adjusted Gross Income for both years, and then dividing it by 24.

However, beware of red flags. Lenders don’t like to see huge increases or decreases from one year to the next. The ideal situation is one that shows a steady increase from year to year to prove business is good. Beware also of making any huge deposits during the mortgage process. This will only lead to having to answer more questions and provide more documentation.

One of the biggest things you may want to think about is taking fewer deductions. While this may mean a higher tax bill for the year, you’ll look better on paper. This means making clear separations between personal and business expenses too.

Be prepared to show extra documentation to prove your business exists. This can include items such as your business license, website, letters from clients and a letter from your CPA. Depending on what kind of business you have, you might also need to provide proof of worker’s comp insurance, employer’s liability insurance, or bond insurance.

And, of course, make sure your credit score is as high as possible. Good credit can improve anyone’s chances of getting a loan, so if you’re self-employed, you especially want to make sure your credit is in good shape. 740 or above is a good number to aim for, but you’ll need at least a 640 just to be approved. By planning ahead and checking your credit in advance of purchasing a home you will have time work on any irregular issues and make sure your accounts are in good standing.

Keep in mind you may need to lower the amount of the loan to match your income on paper. As a last resort, you may want to look into alternative financing options or finding a co-signer with a regular source of income.

While it is more challenging to purchase a home if you work for yourself, knowing what to expect will help you prepare and be ready to make your dream of owning a home become a reality.

FICO Announces New Credit Score Based on Alternative Data

From The Wall Street Journal * April 2, 2015

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Fair Isaac Corp., the creator of the most widely used consumer credit scores, announced Thursday a new score intended to make millions of people who have had difficulty getting approved for financing creditworthy.

The Wall Street Journal reported the creation of the new score, currently in a pilot phase, on Wednesday.

The pilot program from Fair Isaac, also known as FICO, allows 12 of the largest U.S. credit-card issuers to identify consumers who would otherwise have difficulty getting approved for credit, though FICO didn’t name the issuers.

FICO said the score complies with regulations that will allow lenders to “extend credit responsibly.” The firm plans to complete the pilot program and make the score available to more lenders this year.

The announcement was made in conjunction with credit-reporting firm Equifax Inc. and LexisNexis Risk Solutions, which provides risk-related data to lenders. Both firms are providing alternative data for the new score, including payment history on utility bills, cable bills and cellphone bills—information held in a database maintained by Equifax—as well as public record information, including address history, held in the LexisNexis database.

Some 15 million previously unscorable consumers can now be scored based on the alternative data, FICO said. In total, some 53 million people in the U.S. don’t have FICO credit scores, according to FICO, most of whom either don’t use debt by choice or because a negative credit event, such as bankruptcy, foreclosure or a collection, has shut them out of mainstream borrowing. Traditional FICO scores are used in 90% of consumer-lending decisions, according to CEB TowerGroup, a financial-services research firm.

With the new score, consumers who receive a credit card and handle their payments well—avoiding falling behind on payments and maintaining low balances—for at least six months will then receive regular FICO scores, which will make it easier for them to get approved for other loans, including car loans and mortgages.

There is evidence the new score will help to give more people access to many forms of credit. Some one-third of the 15 million individuals who have a score under the new system have a score that is above 620, FICO said. The new FICO score, like the traditional ones, ranges from 300 to 850. Credit-card issuers, car-loan lenders and more mortgage lenders often approve applicants with traditional FICO scores above 620. The percentage of individuals getting scores above 620 on the new gauge “is a good indication that this is a process to onboard more consumers and allow them to maintain more creditworthiness,” said Jim Wehmann, executive vice president of scores at FICO.

The new score, which FICO says it has been working on for the better part of two years, comes in response to lender demand for a score that will make more people creditworthy. Lenders have been increasingly looking for ways to extend more credit in the past couple of years in an attempt to boost originations and revenue, but in a way that could limit the amount of risk introduced into the banking system.

Proponents of such a score have said that people who don’t use debt but who pay their monthly bills on time should be rewarded in the same way that people who pay their debts each month are when they go to apply for financing.

This isn’t FICO’s first take at alternative data. More than a decade ago, FICO rolled out a score that also looked at alternative data, the FICO Expansion score, but it failed to take off. The new alternative-data score has been developed from the ground up with a larger set of data, according to FICO. Interest in alternative data, which went away among many lenders right after the recession, “has come back in alignment with home prices and the economic recovery of jobs coming back,” said Craig Focardi, senior director at CEB TowerGroup.

Traditional FICO scores are calculated based on the information in the credit reports from the three major credit-reporting firms, Equifax, Experian PLC and TransUnion. The new score instead pulls data from the separate databases held by Equifax and LexisNexis.

By: Annamaria Andriotis  The Wall Street Journal  Apr 2, 2015

Best Affordable House in the US…Look No Further Than the Boise Market

From Real Estate News * Apr 7, 2015

boise_top

Cue the confetti. Unfurl the streamers. The nation’s best affordable home hails fromBoise, ID.

Interest in the two-story, 2,460-square-foot home in the suburb of Nampa propelled it through our brackets and on to a thrilling championship win over a charming ranch homein Detroit.

What made Boise the big winner?

Well, a price of $95 per square foot isn’t a bad place to start. Listed for $234,000, the four-bedroom home also offers a bonus room and large backyard.

In addition, Boise’s one of the hottest markets in the country right now. Inventory is tight, median prices are rising, and the median days on market for a listing in the metro area have dropped precipitously.

And despite the local economy chugging along, affordability remains strong. Job growth and rising incomes are commonplace, and an abundant supply of affordable homes helps to keep the market healthy.

It also has one of the lowest (and fastest dropping) unemployment rates in the country—3.5% in January 2015, about half of what it was in January 2013. In addition, over half of active inventory (55%) is within reach of the median household, which earns about $49,000 per year.

The winning home

Boise’s big winner has been on the market for only a couple of weeks, yet it’s amassed a huge influx of page views over that period. In fact, it’s racked up over eight times as many views as the average listing in Boise and over 10 times the national average.

Recapping the action

Boise vs. Nashville

Nashville came in as the favorite, but nothing prepared it for Boise’s magical day. Sorry, Music City.

Detroit vs. Richmond

Detroit motored through the first few rounds, leaving competitors in the dust. Richmond proved a much stronger contender, but Detroit’s firepower proved too much in the end.

The finals

Boise vs. Detroit

Detroit came out strong, but it was a performance and tournament for the ages for Boise, an unlikely but well-deserved champion.

 

final_bracket

Market Looking Good Heading Into Busy Buying Season

Bloomberg Business recently published an article on how positive things are looking heading into this year’s busy home buying season. While the article refers to the nationwide market, it is closely consistent with McCall’s market as well. In a nutshell, here is the good news:

  • Previously owned home sales were up in March by the most in four years.
  • Houses were on the market for less time, 52 days on average.
  • Property values have appreciated.
  • More job growth is driving up sales.
  • First time home buyers sales were up.
  • Distressed properties were down, creating a healthier mix of properties on the market.
  • Mortgage applications are at highest level since June 2013.
  • Increase in inventory shows sellers are confident buyers will emerge.
  • More supply means better prices for buyers.

According to John Stumpf, chief executive officer at Wells Fargo & Co., the nation’s largest home lender, “Interest rates remain low, homes are affordable, consumer and small business confidence remains high, and the labor market is approaching full employment.” All of this is good news for the housing market in the nation, and in McCall. If you are thinking about buying or selling your home, now is the time to take the plunge!

Mortgage Rates Remain Steady This Spring

Mortgage rates are ever-changing and it is hard to know whether to jump into a home now or wait a couple months to see if rates drop. But there’s also the chance that rates will rise. So what’s a potential homebuyer to do? Fortunately there are those who watch the market and have a handle on what rates are going to do. Although not guaranteed, it’s wise to follow the experts if home buying is in your future as it could mean the difference of a few hundred dollars a month on your mortgage.

This spring, rates have remained fairly steady, averaging at around 3.70% for a 30-year fixed rate mortgage. This is down from about 4.41% this time last year. In fact, according to the latest data from Freddie Mac, fixed mortgages were essentially flat this week. All of this is good news for those considering purchasing a home in the near future.

But should you wait? While there has been speculation that rates may go up in June, Paul Edelstein, director of U.S. financial economics at IHS says, “June is more or less off the table unless there is a big, positive surprise in the economy. We’re thinking September, and I won’t rule out December or even next year.”

Heading into the busy home-buying spring season, waiting could be an option, but with rates hovering near all-time lows, you may want to consider getting into that home right now after all.

Sources:

http://www.bankrate.com/finance/mortgages/mortgage-analysis-041615.aspx

http://www.realtor.com/news/mortgage-rates-unchanged-calm-before-the-storm/

http://www.washingtonpost.com/blogs/where-we-live/wp/2015/04/16/mortgage-rates-remain-low-heading-into-spring-buying-season/

Luxury Kitchen Upgrade

The kitchen is the heart of the home, so they say. And let’s face it, most of us tend to spend a lot of time there. So maybe it’s time to think of adding some luxury upgrades to your kitchen. Here are some ideas to take your kitchen up a luxurious notch. Be sure to check out the gallery of images below.

Cooking

  • Steam Oven
  • Double Wall Ovens
  • 5-burner Island Induction Cooktops
  • Warming Drawers

Storage

  • Touch open cabinets
  • Refrigerated Drawers
  • All-Star pantries
  • Built-In refrigerators

Water & Dishwashing

  • Drawer Dishwashers
  • Farm sinks
  • Bosch 800 Series Dishwashers
  • Pot fillers and bar sinks

Exotic Woods

  • Wood countertops
  • Enviro friendly wood floors 

Renting vs. Buying in McCall

For the last few years renting a home has typically been less expensive than paying a mortgage. But with historically low mortgage rates and rising rent costs that trend may be shifting. In fact, rents are expected to rise even faster than home values in 2015 in McCall. But, the choice between renting and buying a home can be one of the most difficult decisions you will ever make. There is no right or wrong answer but ultimately, making that decision depends on your financial situation, your future plans and the lifestyle you wish to live.

In general, home ownership is often a better alternative to renting as it offers significant financial benefits and also peace-of-mind.

  • Buying can be cheaper than renting, especially if you plan on being in the home for at least 4-6 years.
  • Equity is built up as the mortgage is paid down.
  • Many homeowners can deduct mortgage interest and property taxes from their income-tax bills.
  • You can tap into the equity of your home for big-ticket expenses, such as college tuition, at interest rates that can be lower than other financing options.
  • Your monthly payments will remain stable and you won’t have to worry about a spike in rents.
  • Beyond financial calculations, homeownership can create stability and security for you and your family.
  • You can own pets and paint the walls any color you like without getting permission.

However, you may want to consider renting if:

  • Your lifestyle and career require mobility and you do not see yourself staying in a home for more than four years.
  • You plan on downsizing or retiring in the near future.
  • Your rent is lower than average—and you expect it to stay that way.
  • You are building your savings and your credit and can get better-than-average returns from whatever you’re investing your cash into.
  • You’re in a super-expensive housing market or the monthly cost of renting is lower for a home of similar size and quality in the same community.
  • You do not have adequate income or savings for maintenance or repair costs in a home.
  • You do not have the time or desire to take on necessary home maintenance that accompanies homeownership.

Buying and owning your own home can be a very rewarding experience if you are properly prepared, know what to expect and make the right financial decisions. There are several advantages to homeownership, but it comes with additional responsibilities and potential risks as well. Essentially, in making the decision to buy vs. rent you need to evaluate your finances, recognize where you are in life and determine what will suit your situation the best.