Personally, I don’t trust numbers much. Averages can be so easily distorted by one exceptionally large or small sale. But market trends are more trustworthy. Check out this Market Comparison Chart showing the SOLD data for Valley County since 2006. It looks like a bunch of dry gibberish at first glance, but a minute of study brings the obvious trending into view.
Shiny and New. 3D Movies!!!!
I’ve always thought of The Roxy Theater as one of the truly special gems of Cascade. Luckily I’m not the only one. Jason Speer, her owner, has partnered with Mark and Kristina Pickard to breathe new life into this treasure. Yes, you might recognize the Pickard name. Mark and Kristina are the benefactors of Kelly’s Whitewater Park here in Cascade – another recent local gem.
The Roxy Theater, which was first built in 1939, is better than ever. It is new both inside and out, without compromising the plush feel and looks of its original self. In the past couple of months her exterior has been redone – refurbished sign, freshened stucco and paint, and roof work. On the inside there is new digital projection, new sound, new heating, new (very fancy) restrooms, AND BRAND NEW SEATS!
Lots of Repairs
This newscast from KTVB is fun to watch http://www.ktvb.com/news/The-Roxy-189763971.html
Repairs Inside Too
Check The Roxy’s web site for historical photos and movie schedules http://theroxyidaho.com
Experience tells me that the best chance of selling your property comes in the first two weeks it is listed. Realtors are watching for matches for their clients and Buyers are scouring the new listings daily. If it goes beyond the first couple of weeks, we could be in it for the long haul.
Here are five common mistakes I hear a lot:
1) Let’s price it high. I can always come down. Today’s buyers want the best value, not necessarily the perfect property. They know the market well and won’t even look if your property is obviously overpriced.
2) I don’t have to sell. If that is the case, this is probably not the right time to list your property. Buyers aren’t just looking for a deal, but a steal! This is not the right market for unmotivated sellers.
3) Some foolish rich person will come along. Seriously, we all know deep down that foolish and rich don’t really belong in the same sentence together.
4) I’ll consider offers. This is like standing on the bank fishing with no bait on your hook. Your overpriced property screams, “I’m not really interested in selling, so don’t bother me.” (By the way, that IS my favorite way to fish…… )
5) I want/need enough to pay off my other debt. For your buyer to get financing there will have to be an appraisal. So, even if she is willing to pay more than she should, her bank isn’t going to let her. The price will have to be justified by an appraiser – and believe me, the appraisers are being VERY careful these days.
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July 4th is the biggest weekend of the year here in Cascade. People come from all over the place to celebrate the small town way. The parade is always a hoot, the Lion’s BBQ a tasty treat, and the fireworks … Continue reading
I saw it again this week – an extremely disappointed client (Bill) who missed out on a great buy. It was a bank owned house with a listing price just over $97,000. Bill made a full price cash offer and was sure he’d own his dream cabin soon. But the bank received three other offers and came back to each buyer asking for his “highest and best” offer price. We had no idea what the other offers were and Bill was immediately frustrated because “he’d given them exactly what they’d asked for”. I visited with him about his “disappointment price” (we’ll save that for another blog) and he did raise his offer, but not enough to secure his purchase.
Curious, I did some research on bank owned sales. In the first 6 months of 2011 there were 159 homes sold in Valley County. Of the homes sold, 66 (41 percent) were bank owned. Of the 66 bank owned homes, 19 (29 percent) sold for more than the asking price. THAT IS A SIGNIFICANT PERCENTAGE.!
Did you know that 75 percent of the homes in Valley County are second homes? There are lots of good points about that statistic.
- People like to be here and choose this area for their recreation and relaxation. They smile a lot.
- Emergency services and schools are strained less by part-time residents.
- Second homeowners are unable to take advantage of the Primary Homeowner’s Tax Exemption. This is a tremendous help with our limited Valley County tax base — and we thank you!
- Part-time residents bring energy, ideas, and life to our small communities. They tend to be wonderful neighbors.
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Most communities have someTHING special. Well, Cascade has someONE special in Mrs. G, The Pie Lady. She makes some mean, State Fair Prize winning beauties that bring hundreds of dollars at worthy fund raising auctions. Even KTVB honored her this spring. … Continue reading
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When you visit Cascade, do a little exploring! Can you find these landmarks?
Personally, I don’t trust numbers much. Averages can be so easily distorted by one exceptionally large or small sale. But market trends are more trustworthy. Here is a Market Comparison Chart showing the SOLDS since 2006 for Valley County.
The downward trend is apparent. Home values have slipped over 50 percent since the peak. Appraisers tell us that home values have declined at around 1.5 percent a month. And bare land has been even harder hit with a 70 to 75 percent drop in prices.
It’s not my nature to be negative. If I consider the big picture I can see the truth – the real esate market saw a very unhealthy high in 2005 and 2006. The correction started in the last half of 2007 and now we are seeing a very unhealthy low. Eventually, hopefully sooner than later, the pendulum will settle at a healthy middle. At least at that point we’ll have some stability and be able to operate in our new normal.
Just a few suggestions and reminders to help you maximize your selling price and minimize the time on the market………….
1) Curb Appeal is Real
What does your buyer see from his car? Make it inviting and tempting.
Your lawn should be trimmed, sidewalks swept, front door clean, and windows shining.
Add some color with flowers and freshen the mulch.
Check the driveway for oil spills.
2) At the Front Door
Clean the porch and repair the screen
Put a coat of fresh paint/varnish on the door and trim
Repair the door locks and key access
3) Make it Light and Bright
Clean the windows and open the curtains. Buyers love lots of light.
Turn on the interior and exterior lighting as a welcome sign.
Light the fireplace
Bake cookies or bread
4) Create Space.
Clear the clutter from halls and stairways
Store surplus furniture
Clear the kitchen counters and stove top
Clear closets of unnecessary clothing and organize
Remove empty boxes and containers
Let your buyer SEE the value of that roomy basement, attic, or garage
5) Add Sparkle
Clean and freshen the bathrooms (don’t forget the mirrors)
Clean the greasy dirt from doors and knobs
Clean the baseboards and around the heating vents
Clean the fronts of your appliances
Clean the washer and dryer
Clean the carpets, drapes and window blinds
Fresh paint will pay dividends in the form of a quicker sale or even a higher price.
6) Let Your Buyer Focus on the Positive by Removing the Little Negatives
Fix leaky faucets and toilets
Tighten loose doorknobs, cabinet pulls, and wobbly hinges
Repair seals around tubs and basins
Replace defective light bulbs
Oil squeaking doors
Repair wall dings and touch up the paint
7) Take a Walk
Resist the temptation to “help” the realtor show your home. She knows her buyer and the degree of detail he appreciates – and the degree that frustrates him. Your buyer needs to be able to look freely. If you’re in the room he won’t express his negative impressions and the realtor won’t have a chance to respond with something positive.