Join us May 25th at 8:30 PM for a Sneak Preview showing of Top Gun: Maverick!  After a 2-year delay, we finally get to host this Movie Night!  Please RSVP by May 20th to reserve seats!208.577.0225.

Be sure to check your mail this week for your personal invite to our Private Premiere of SOLO: a Star Wars Story!  Trisha and I have rented a full auditorium @ the Majestic Cinemas on May 24th (8:30 PM).  Space is limited to the size of the theater, so RSVPs are required by May 17th!  Simply call, text, or send me an email to this Appreciation Event for our friends and clients!  See you there!  http://www.starwars.com/films/solo

Did your Property Tax Assessment show that your home jumped $100K in value?  YIKES!  I’ve had multiple clients ask  1) How this can happen and  2) What can be done to fight it?

Here are the answers:

1. The Reason the values went up is because 2013 sales data was strong.  Prices went up across the board as the housing market improved.
2. If you disagree with the new value of your home (along with the higher taxes you’ll be paying), there is a simple Appeals Process to follow.  Go to the link below and follow the directions.

Click Here: Ada County Assessment Appeal Form

Your appeal has to be submitted in writing PRIOR to the data on your Assessment Notice.

As part of your appeal, you will need back-up data on sales for your specific subdivision.  If you can find a comparable sale (square footage, bedroom count and lot size), simply highlight it and send it in with your letter stating that your home can’t be worth $XXX,XXX if a similar home sold for so much less.

I would also encourage using Zillow.com and Trulia.com to see other valuations of your property.  I can’t guarantee it will work, but its worth a try!

If you would like a 12 month report of your own neighborhood, please feel free to give me a call or email me at  Jeremy@JeremyTelford.com.

All the best,

Jeremy

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We provide honest, investment-grade real-estate services to clients in the Eagle & Meridian Idaho market.  

Jeremy has spent the past 5 years identifying, renovating, and reselling investment properties with the mantra of “Good Deals on Bad Homes in Great Neighborhoods.”  This focus has generated a perfect record of successful investments and through our network of contractors and suppliers, we are zeroing in on making real-estate investment less of an art and more of a science.  

This website is our tool to offer that same level of buying insight and confidence to our friends, partners and future clients.  Not that everyone is looking for a “Bad Home,” but looking outside the box, with a little creativity may turn your next “Good Deal” into a “Great” long-term investment.

Our approach is subdivision specific.  We know most Eagle & Meridian neighborhoods inside and out.  Want to know the average Price per Square Foot during the past 90 days?  We’ve got you covered.  How are the schools, what are the HOA dues, and where is the closest Target?  Yep, we know that too.

Our quantitative angle on the ever changing market serves as a guard rail to only making smart, profitable home purchases.  Contrary to many agents, we don’t believe that it is “Always” the right time to buy real estate.  Nor do we believe just because a home is inexpensive that it’s a smart purchase.   It may be, but wouldn’t you feel better knowing for certain?

If you are ready to take the guessing game out of your next real estate purchase, please contact Jeremy Telford Real Estate today.

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Most real-estate agents will tell you it is ALWAYS best to have an agent involved.  Which makes sense (since the more Agents involved, the more they get paid) but it is not always true.

Here is my take:  It depends on whether you are are the buyer or the seller and whether or not the home involved is a For Sale by Owner (FSBO) or not.

Here are a couple of common scenarios and whether or not you will benefit from having a full-commission agent on your side.  

Anytime you are searching for homes (to buy) that currently listed on the MLS or by other agents you should absolutely have an agent on your side.  The #1 reason is IT COSTS YOU NOTHING.  Agent commissions are usually paid by the SELLER.  When they decide to sell their home, they enter into an agreement with their Listing Agent to offer a 6% commission (normally) that will be split as 3% to the Listing Agent and 3% to the Buyer’s Agent.  If, however, you approach the Listing agent directly without your own Agent / Broker involved, the Listing Agent normally gets to keep the entire 6% commission while you miss out on the benefit of having someone to represent your interests.  They get paid double and you are left to negotiate your deal against an experienced real estate professional.  

Since it doesn’t cost you anything, ALWAYS involve an Agent on your side when you are looking to buy something listed by another Agent.  You will come away with a much better deal and experience—and you won’t pay a dime.

If, however, you looking at homes that are For Sale by Owner—whether or not to use an agent is debatable.  Since the seller is not in an agreement to offer commissions, you may end up paying your agent out of your own pocket—so it may or may not make sense.

When selling your own, whether or not to involve an Agent depends on a couple of factors.  Are you looking to get the absolute highest price, even if there are commissions involved?  Or are you looking to save every possible penny and feel comfortable doing it on your own?  Do you already have some potential buyers who might buy the home in a “hand-shake” transaction?

If looking to get the most exposure and the absolute highest price, definitely enlist an Agent and get it on the market and on the MLS.  A good agent will add enough value to the transaction (through better exposure, more offers and a higher selling price) to cover the additional costs incurred.  

So, if you decided to use an Agent, look through samples of their previous listings, find out how long that Agent’s listings have normally taken to sell (Days on Market), and how much those listings have actually sold for vs. the original listing price.  (Just because one agent promises your home will sell for a higher price than some others, doesn’t necessarily mean they are a better option).  If there is value to be added, let the Agent’s get involved and choose the one that works best for you.

If you are interested in talking through some of these scenarios and deciding on the absolute best option for you, we would love to talk.  Give me a call.  We would love to be involved in your next purchase or sale and know if we can add value to your transaction.  And if we can’t, we will not be offended a bit.

All the best,

Jeremy

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One of the greatest lies in real-estate investment is the adage “Location, Location, Location.” 

While I agree with the first two words, I would strongly encourage changing the third to “Timing.”

Real Estate cycles are as normal as seasons.  Prices ramp up and then they crash.  It’s a “Buyer’s” market—then it’s a “Seller’s.”  The good news is:  Those who can recognize these market fluctuations are more likely to “Buy Low and Sell High” as the market ebbs and flows.  Therefore, understanding “Timing” can be even more profitable than choosing the right “Location.”

Case in-point, let’s look at the data of the homes sales in NW Meridian, Eagle and SE Boise during the last real estate cycle—2005 to 2013.   Average home prices in these three markets rose by +16% (NW Meridian), +10% (Eagle) and +25% between 2005 and 2007.  Then, from 2007 to 2009 they dropped by -29%, -17% and -18%, respectively.  From 2009 to 2011, prices slid another -10%, -15%, and -16% before going back up from 2011 to 2013 by +33%, +22% and +21%, respectively. 

What does this show us?  Look at it this way… 

If you had purchased an AVERAGE home in NW Meridian in 2005 ($215,000) and sold it in 2007 ($250,000), you would have made about $35,000.  That is a 16% ROI if you paid cash or over a 100% ROI if you mortgaged the property.  Well done!

 However, if you bought that same house (in the same “Location”) in 2007 ($250,000) and sold it in 2009 ($177,500) you would have lost $72,500.  Yikes!  And, if you had held it until 2011 ($160,000), you would have LOST $90,000+ (CASH) in a 4-year period.  That’s nearly 40% of the total purchase price of the home just because of “Timing.”

These trends are easy to see in hindsight, but more difficult to predict in advance.  While there are certain indicators that can foreshadow when the next peak (and subsequent crash) will occur, no one can pinpoint the month & day until it’s too late.

By taking an educated / quantitative approach to short-term investing, however, you can always hedge against taking a bath on a home purchase.  You can also—quite easily—ensure you are getting the most out of your home by being willing to sell during a “Seller’s” market.

Wondering when the best time for your next real-estate investment (or liquidation) will be?  Give us a call.  We’d be happy to talk you through it.

All the best,

Jeremy

Click here to Search the MLS
Click here to Find Out What Your Home is Worth
Click here for Samples of the Quality of Photography We Provide