Coeur d’Alene Condo in the Village
2011 Windermere Market Review
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,
2011 Windermere Market Review
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!
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 JumpExisting-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
We LIKE This Basement Remodel!
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
$69,900 4.51 Acres
$69,900 4.78 Acres
- 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.
Call Randy Oetken 208-660-0518
Check it out at www.RealEstate-Browser.com
View more of OurListings
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.