Investment PropertiesKootenai CountyOur ListingsPost FallsPost Falls ListingsPost Falls ListingsReal EstateRentalVideo March 17, 2011

Ross Point Estates Duplex: Great Rental History

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Coeur d’Alene Condo in the Village

Coeur d'AleneHaydenHome OwnershipIdahoKootenai CountyMarket AnalysisMarket NewsMarket ValueNew ConstructionPost FallsPricingRathdrumReal EstateSellSellersWindermere March 11, 2011

2011 Windermere Market Review

Hello, Friends!

 Our Annual Windermere Report (see link below) is an overview of last year’s real estate market and a forecast of the trends, opportunities, and challenges we can expect in the coming months.

Forecasting the future is always a risky business.  However, we continue to remain optimistic about the future of our local real estate market.  Why? Because families and retiring baby boomers will continue to seek out healthy communities that offer recreational opportunities, excellent schools and quality health care.  And here in Kootenai County, we have these in abundance!

Are you interested in learning how all of this relates to the value of your property in today’s market?  Whether you are evaluating investment strategies, tax or estate planning, or perhaps considering a change of address, we are here to help you! We would be happy to prepare a market value report for you, compiled on activity in your local neighborhood and specific to your property.

If you would like a custom market value report, or if you know of someone who needs professional advice regarding real estate, please don’t hesitate to call us.

In the meantime, we hope you find the “Windermere Report” informative.  We look forward to talking to you soon.

Sincerely,

Randy & Christy Oetken

2011 Windermere Market Review 

Home OwnershipIdahoKootenai CountyNew ConstructionOur ListingsReal EstateSave MoneyTaxes February 9, 2011

Homeowners Exemption Information for 2011

2011 HOMEOWNERS EXEMPTION INFORMATION

Kootenai County Assessor’s Office
Administration Building
451 Government Way
Coeur d’Alene, ID

 WHAT IS THE HOMEOWNER’S EXEMPTION?
The Homeowners Exemption is an exemption provided by state law that saves the property owner money on their property taxes. This happens because the exemption deducts 1/2 of the assessed value of the buildings & the one acre home site, up to a maximum of

 $92,040 or 50%, whichever is less. 

This rate may be adjusted annually.

 WHO QUALIFIES?
A property owner who occupies the home as their primary residence and is an Idaho resident.

 HOW DO YOU QUALIFY?

  • A valid Idaho drivers license (if you drive)
  • Vehicle is licensed in Idaho (if you own a vehicle)
  • If the property is in a trust, bring the entire trust with you
  • Registered Idaho voter (if you vote)
  • If you file income tax; at the appropriate time the property owner
  • Would file a full year Idaho resident income tax return
  • You reside in Idaho for a majority of the year

 WHEN DO I FILE?

  • On new construction the owner must apply within thirty (30) days of purchase.
  • On existing homes the deadline for applying is April 15th of the year that you occupied the home.

 WHERE DO I FILE?

The Homeowners Exemption Applications are available, and must be filed in the Assessor’s Office. The Assessor’s Office is located at 451 Government Way on the main floor of the Administration building, next to the information desk.

FOR FURTHER ASSISTANCE ~

Call the Assessor’s Office at (208) 446-1513

E-mail bwilliams@kcgov.us

Revised

Thank you, Pioneer Title Company for this timely information!

AcreageBuild Your Custom HomeCoeur d'Alene ListingsHaydenHayden ListingsHome ImprovementHome OwnershipNew ConstructionOur ListingsRathdrumRathdrum ListingsReal Estate January 27, 2011

On The Level: Hire the Right Contractor!

Here’s another great article from our friends at Hibbard Construction, offering 
valuable advice on on hiring and working with contractors.

Considering a home remodel in the near future?  If you are thinking of hiring a contractor to do the job for you, it is important to have a plan before you embark on your home improvement journey. 

It is no secret that the success of any home remodel project will depend significantly on qualified craftsmen, quality materials and an experienced contractor that can adequately deal with the unforeseen obsticals that almost always arise during these projects. 

To ensure the most affordable and succesful outcome, it is vitally important to hire the best contractor for your project. Follow these steps to help you select the right contractor for the job.

Do your homework…
Start by getting written detailed bids from three reputable contractors. When comparing bids, make sure you are comparing apples to apples and not apples to oranges.  It is in your best interest to ask lots of questions. This is where you will flush out the details that are most important in identifying the specifics of your project and the scope of work the potential contractor can perform. 

Don’t assume that the lowest bid is the best deal.  Differences in materials will have a huge impact on the price of your project.  Make certain your bids are based on the same quality materials.  Also take into consideration the time frame it will take to complete the project.  There is nothing more frustrating than a project that takes longer to complete than originally anticipated.

Verify that the contractor’s license is active and check to see that the contractor is in good standing with the Bureau of Occupational Licenses. You can visit the web site at www.ibol.idaho.gov to see if your contractor is in good standing or has had complaints, liens or other derogatory claims filed against them.

Ask for and then check references. Look at other jobs the contractor has completed. Ask if you can speak directly to past clients.  Are they current with their vendors?  How long have they been in business?  Longevity is a good indicator that a contractor is good at what they do and that they conduct business with honesty and integrity.

Ask the contractor questions…
Do they have the experience and expertise to do the work you want done?  Ask for past examples similar to the type of project you are considering.  What makes them qualified to do this type of work.

Who will do the actual work: the contractor, subcontractors, or employees?  Desirable results are most often achieved if the contractor has his own employees on the job site.  Quality control is easier achieved in this manner.  If some of the work is to be performed by a subcontractor, ask how long that contractor has been doing business with the sub.  Be sure to ask for references and check to see if the subcontractor is in good standing with the Bureau of Occupational Licenses.

Other important questions to ask are: who is responsible for obtaining any necessary building permits?  Are architectural plans necessary for this project? How many other jobs will the contractor be working on at the same time as yours? 

It is important to know what written warranties are offered.  These can vary from project to project. If you plan on purchasing appliances, tubs, sinks and miscellaneous hardware for the project, are warranties available for those items, too? 

Lastly, it is important to know who you can call if you have questions or concerns during the project.  Is there a foreman or superintendent that can address concerns and is easy to contact?

Ask yourself…
Can I communicate with this contractor? Communication is vital during the project.  If the contractor cannot communicate before a contract is even agreed upon, the likelihood of having successful communications during the project is pretty slim.  Important decisions will be hard to make during the project process.  This can lead to a stressful home life during the project, and the overall project outcome may be less than desirable.

Does this contractor seem honest and forthright?  Is he looking out for your best interest?  A good contractor will tell you if your home improvement project is an over-improvement.  They will keep in mind that a good return on investment is key to keeping the value of your home in line with the surrounding homes in the neighborhood.

Do I have reasonable expectations, including being prepared for unexpected costs and delays?  This is a tricky one — Depending on the age of your home and the scope of work being performed, the unexpected can take a project in an entirely different direction.  It is important that a contractor keeps this in mind and communicates any unusual circumstances immediately and thoroughly to the homeowner.

A carefully written contract includes at least…
A list of materials to be used including quality, quantity, weight, color, size, brand names, etc. It is important and it needs to be concise in order to clarify the scope of work to be performed. 

A list of allowance items and the budgeted amount should be included as well. An allowance is a specific amount of money to buy items not yet selected. When these items (such as light fixtures) exceed the allowance, the homeowner pays the additional amount.

Agree in advance to a payment schedule that coincides with work as it is completed.  Be sure that your contract contains an agreement that the contractor and the homeowner will sign all “change orders”.  Each change order should be dated and include the nature and cost of the change. The change order will include who is responsible for any additional cost.

Workmanship warranties and specifically what they cover are also important to have outlined in your contract.  We live in an imperfect world and sometimes things don’t always work they way in which they were intended.  If it’s a manufacturing defect, does the manufacturer cover it?  A reputable contractor will use materials that have these types of warranties and provide warranties for work performed by his crew.

Start and completion dates are also important to include in your contract.  This is your insurance that the project will be completed in a timely manner.  If the completion date changes because of unforeseen obstacles, a change order should be created depicting the change.  Then a new completion date should be set.

And finally, the total price of the project should be clearly outlined in the contract as well.  A thorough contractor will create a budget for the entire project and operate within those amounts.  A detailed list of all expenses is important in understanding the entire scope of work being contracted. It helps both the homeowner and contractor keep the project on track financially.

With our extensive knowledge of the building industry, impressive list of professionals whom we’ve come to trust over the years, and expertise in guiding our clients through all kinds of Real Estate transactions, we are uniquely qualified to help you build your home.  

As REALTORS®, we’ll help you through every phase of building your new house, so you can build your life.  We can help you find Builders, Floorplans, and Land for your Dream Home or Estate.

Put us to work for you!

BuyersHome OwnershipMarket NewsPricingReal EstateSell January 27, 2011

Good News: Existing Home Sales Jump

As you wander through life,
whatever be your goal,
keep your eye on the donut
and not on the hole!
-Sign in the Mayflower Coffee Shop, Chicago



This quote came to us through our Windermere Coeur d’Alene Realty newsletter this week, and we thought you would appreciate it.

It’s also a great introduction to the Market News that we want to pass along to you today.  It’s GOOD NEWS, especially in the context of the news of recent years. 

Daily Real Estate News  |  January 20, 2011
REALTOR® Magazine-Daily News-December Existing-Home Sales Jump

Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009.

Lawrence Yun, NAR chief economist, said sales are on an uptrend. “December was a good finish to 2010, when sales fluctuate more than normal. The pattern over the past six months is clearly showing a recovery,” he said. “The December pace is near the volume we’re expecting for 2011, so the market is getting much closer to an adequate, sustainable level. The recovery will likely continue as job growth gains momentum and rising rents encourage more renters into ownership while exceptional affordability conditions remain.”

The national median existing-home price for all housing types was $168,800 in December, which is 1.0 percent below December 2009. Distressed homes rose to a 36 percent market share in December from 33 percent in November, and 32 percent in December 2009.

 “The modest rise in distressed sales, which typically are discounted 10 to 15 percent relative to traditional homes, dampened the median price in December, but the flat price trend continues,” Yun explained.

We’ve been focusing on the donut instead of the hole – and we’ve already closed several transactions in 2011!

We have strategies that WORK!  We can help you buy or sell real estate this year. Call us Today!

Randy or Christy Oetken
208-660-0506



ActivitiesHome ImprovementVideo January 19, 2011

We LIKE This Basement Remodel!

AcreageBuild Your Custom HomehomeIdahoKootenai CountyNew ConstructionOur ListingsPricingRathdrumRathdrum ListingsReal Estate January 18, 2011

Build Your Custom 5+ Acre Estate: NEW 2011 Lot Pricing

Selkirk Meadows 5+ Acre Parcels
30+ Parcels are available!

We have Builder Packages

-or-

Bring your own builder!

New 2011 Lot Pricing – starting at $69,900

Lot Map - New 2011 Pricing

$69,900  4.51 Acres

$69,900  4.78 Acres

$99,900  4.77 Acres

$99,900  4.78 Acres

$99,900 4.89Acres

$99,900 7.11 Acres

We offer:

  • extensive knowledge of the building industry
  • an impressive list of professionals whom we’ve come to trust over the years
  • years of experience in guiding our clients through all kinds of Real Estate transactions
  • We are uniquely qualified to help you build your home.

As REALTORS®, we’ll help you through every phase of building your house, so you can build your life. We can help you find Builders, Floorplans, and Land for your Dream Home or Estate.

 

Put us to work for you!

Call Randy Oetken 208-660-0518

Check it out at www.RealEstate-Browser.com

View more of OurListings

Coeur d'AleneCoeur d'Alene ListingshomeIdahoKootenai CountyLake Coeur d'AleneOur ListingsReal Estate January 18, 2011

Coeur d’Alene Luxury View Home: 2 Suites on 2 Lots

PERPETUAL PARTY POTENTIAL! Entertain with Penache in this Central CDA View property, overlooking the Lake, City & Mountains.

Seller Financing is Available.

Take the Virtual Tour here!

Call Christy Oetken 208-660-0506

Check it out at www.RealEstate-Browser.com

View Browser’s Listings!

Home OwnershipI.R.S.InterestMortgagePollReal EstateSave MoneyTaxes January 17, 2011

Mortgage Interest Deduction: WE SUPPORT IT!

Mortgage Interest Deduction?  OF COURSE!

We’re with Lawrence Yun, of the National Association of Realtors:

It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.”

In fact, the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.

The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement.

It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.

Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status.

Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics.

For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership…

We’d like to know what YOU think!  Take our poll!

“Do You Support the Mortgage Interest Deduction?”

Comments are open, and we hope you’ll express your opinion!  We’d love to hear from you.