Coeur d'Alene Idaho Real Estate & Property Management

41% of Workers Laid off in Last Three Months are Back to Work

Wed, 08 Apr 2009 15:51:33 -0500

Despite it being one of the most challenging hiring environments in the nation’s history, 41% of workers who were laid off from full-time jobs in the last three months reported they found a new full-time, permanent position while another 8% found part-time work.

This is good news on a national level. Perhaps this is why Kootenai County's unemployment actually went down 3/10th's of a percent from 7.7 to 7.4 in the last month. Unemployment in the greater Coeur d'Alene area is actually expected to reach the 9-10% range by late summer. While not good, it's also not the worst we've seen in the last 20 or so years.

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Curious about the true sellable value of your home?
Visit North Idaho House Values to obtain a market analysis.

Tired of flipping through homes magazines only to have to call multiple people and
then finding out the property is no longer available?
Visit Coeur d'Alene House Hunter and receive free, no obligation, up-to-the-minute
updates on homes for sale that fit your parameters!

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Have I given up blogging ???

Thu, 20 Dec 2007 23:18:51 -0600

Nope. I've just graduated. I'm using a new platform that will soon be integrated on our servers - allowing me full customizable capability.

I've also (finally) overcome my addiction to points!! I found that points weren't building my business and I needed to focus on building the business.

Don't get me wrong, I love (adore) AR, but my focus is now our blogsite. The thing is, AR has some awesome google juice that I'm still reaping the benefits of, so I'll post every so often just to keep life active around here.

North Idaho Real Estate Blog

Fieldstone at Praire Falls, Post Falls Idaho Homes for Sale

Sat, 24 Mar 2007 15:04:40 -0500

Just a brief update on the homes that are available for sale in Fieldstone at Prairie Falls. Learn about the Fieldstone sub-division and why it's the perfect place to buy your next home.

If you are interested in purchasing a home in Fieldstone, give us a phone call 208.769.9464 or 208.819.2965 or send us an email.

Be Careful. What you read may be inaccurate, even from "experts".

Tue, 22 May 2007 11:23:09 -0500

Realtytimes.com has a "market reports" area where agents throughout the country can post market conditions about their areas for consumers to read and review. I've been pretty good about updating our reporting (under David's name). As you also know, I'm a stickler for accurate and factual information and for providing full disclosure and backup of the source of that information.

This post should serve as a warning - Be very careful about what you read. There are good honest agents throughout the web world (and in real life) reporting inaccurate information. Inaccurate enough that were one to read and believe it, it may change one's course of action.

I just recently ran across this in our own area. Agents reporting declining prices and yet despite digging deep and looking everywhere, I can't figure out where in the world they are getting this information. Here is our updated report for the Coeur d'Alene Metro area:

Warning: be careful what other agents are saying about the Coeur d'Alene area. Some are saying the market is dead. Some are saying prices are declining. Both of these scenarios are false. When you see/hear agents reporting market conditions, ask them to site their source and provide a direct link to the data they are siting.

Here is the truth and it's quoted directly from the Coeur d'Alene MLS April 2007 Market Report (full report available on our website):

For ALL residential sales during the same time periods, we note approx 25% decrease in the total number of sales, 23% decrease in total sales volume, 2.4% increase in average price, 5% increase in median price. These numbers reflect sales of ALL residential listings, from the inexpensive mobile homes on rented lots to the high end waterfront properties. In the 6 month period ending on Apr 30, 2006, sales prices ranged from $8,900 to $11,750,000, with an average of 113 days on market. For the 6 month period ending on Apr 30, 2007, sales prices ranged from $10,000 to $2,990,000, with an average of 122 days on market.

Additionally, OFHEO just released their 2006 Q4 report (also available on our website) that showed the Coeur d'Alene Metro area with a 10.47% appreciation rate. Fiserv has predicted the Coeur d'Alene Metro area will reach 7.8% appreciation in 2007 and other (not as reliable) sources have predicted an appreciation rate of up to 11%.

In other words, we are not in a declining market. Most agents perception of 'decline' is that people are reducing their listing prices. The reality in that is that the listing prices were higher than market value in the first place and when they price at market value, the home sells, quickly too.

The luxury market is alive and kicking and very strong. The luxury market in North Idaho is defined as homes priced from $500,000 and over (the top 10% of the market). That price point will be raising before the end of the year.

Help shape the future of transportation in North Idaho

Tue, 10 Apr 2007 15:30:27 -0500

"With massive development planned between Post Falls and Spokane Valley, an agency is studying the transportation impacts and accepting public comment on opinions and ideas for that area." - Coeur d'Alene Press April10th, 2007.

A public open house is scheduled for Wednesday, April 11th, 5pm - 7pm at Central Valley High School, 821 S. Sullivan Road. You can find more information at www.srtc.org.

To help shape the future of transportation in North Idaho, this is an awesome opportunity to become involved.

Vo-Tech High School in Coeur d'Alene - the future is a probability

Mon, 06 Apr 2009 09:26:40 -0500

This one is a bit near and dear to my heart - one of my boys wants to build cars as his career and he needs to start out with a full understanding of the workings - aka, mechanics! Neither his father or I know enough to get him beyond the basics so the idea of a Vo-Tech high school campus in the Coeur d'Alene area is very attractive to us.

COEUR d'ALENE -- The House Revenue and Tax Committee unanimously approved a bill Tuesday that would give cooperative service agencies created by school districts the ability to use plant facilities levies to pay for new buildings.

A 100-acre parcel on the Rathdrum Prairie has been secured for use as a professional-technical campus through a partnership of North Idaho College, the North Idaho Manufacturers Consortium, the city of Rathdrum and the owners of the land, the Meyer family of Rathdrum, who all signed an agreement in October outlining their intentions.

NIC is purchasing 40 acres to develop its professional-technical programs, and the Lakeland School District is purchasing 20 acres to use as the site for a future school.

The final 20 acres have been set aside for the Coeur d'Alene, Post Falls and Lakeland school districts to use to build a professional-technical high school.

Full article here.

Gozzer Ranch Golf Course - A Players Review

Tue, 31 Jul 2007 13:53:01 -0500

I found this great review about Gozzer Ranch. Take a moment and give it a read. Are you a golf lover? This just might entice you to make a visit here . . .

"I know that no one else lives in my neck of the woods, but this course is hands down my favorite course I have ever played. It is a private course in Coeur d' Alene Idaho that Fazio designed and it has only been open for a little over a month, but it is flat out spectacular." Read the rest of the review here.

Luxury can be bought inexpensively right now... Blackrock owner cinching the belt even tighter.

Thu, 09 Apr 2009 16:32:47 -0500

The developer of some of the most exclusive real estate properties in Kootenai County and Spokane is optimistic but realistic in what the future holds for him and others in the business.

"Anybody today in the development business who tells you things are a bowl of cherries is a liar," Chesrown said.

He's right. It's not the end of the world, but it's definitely a different world.

"No one anticipated the slowdown to be as deep and wide as it's been. When we budgeted for 2006 -2007 or 2007-2008 we were looking at a slowdown estimated at 20 percent, not 75 to 100 percent."

Black Rock cut about 70 percent of its administrative personnel to a staff of about 25 and closed its downtown sales office. Chesrown has taken on the position of sales director.

He started putting his personal property on the market early last year. He sold one home in California, while Black Rock Ranch near Harrison and another ranch in Texas are for sale, with plans to keep the one that does not sell.

"Obviously the ranch is a passion, but to have those kind of things, you can't put those kind of assets ahead of your business," he said. "The other thing, when you're asking lenders and different entities to work with you on restructuring, you have to be willing to make the tough decisions. The tough decision sometimes is on a personal note."

Now this I admire - it takes a confident man to make hard decisions and then live by them.

Article here.

Wordless Wednesday: My Breezy Dream...

Wed, 08 Apr 2009 15:02:17 -0500

Pend Oreille Lake, from the shores of Farragut State Park
Summer 2008 Photo Credit: Christina Ethridge

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Curious about the true sellable value of your home?
Visit North Idaho House Values to obtain a market analysis.

The North Idaho economy is ripe for a comeback...

Wed, 08 Apr 2009 10:49:59 -0500

Steve Griffitts is confident in his weather prediction: The sun is going to come out in April and eventually, it will stop snowing here.

He has the same confidence in his economic forecast that businesses will rebound, jobs will bounce back, shoppers will return to stores and things will get better.

"People are not afraid of what happened," said the president of Jobs Plus. "They're afraid of what's to come. Let me put you at rest."

North Idaho has gone from a resource-based economy dependent on lumber and mining to a diverse and expanding one marked by growth in medicine, finance and tourism.

"We have seen so much investment in our area," Griffitts said. "Not only financial investment, but intellectual investment."

A cornerstone of the area's success has been manufacturing.

Interesting... so the fact that I've been telling people that medical and manufacturing are the strongest employers in the area is TRUE - wow, fancy that ;)

Full article here.

Go ahead don’t listen to me: 8 reasons why my advice sucks.

Wed, 08 Apr 2009 10:46:36 -0500

I wrote a post on my North Idaho Real Estate Blog, a list post. I'm actually participating in the #31DBBB challenge and yesterday's challenge was to write a list post.

Anyway, while it's satirical, it's based firmly in reality, so here is a synopsis of the post. You can read more over at that North Idaho Real Estate Blog.

1. What more is there to know about the area? You heard what a great place it is from your brother’s sister’s cousin who has a friend who drove through here once on their trip from Seattle to Montana.

2. The home was supposed to be a wonderful investment, it looked GREAT in the pictures!

3. Your friend moved to the area 4 years ago and they told you that the home next to theirs is available for a “Steal of a deal” right from the owner… no commissions!!!

4. You know you’ll get a “better deal” buying directly through the listing agent because the seller won’t have to pay “double” commission!!

5. Heck, the extra money you have to put into the property in improvements is made up for by the extra appreciation a particular neighborhood will have.

6. You believe that either all agents are created equal or all agents suck, why on earth do I need an investment property expert?

7. Hey, this management company cost me less money in repairs and maintenance every month. I can take care of that stuff later (or, it’s unnecessary work).

8. Of course you should go straight to the builder. They will give you the best price possible. After all, You’re experienced, You’ve “done this” a few times!

Before commenting, PLEASE read the entire post over at the North Idaho Real Estate Blog.

Yes, investors are still buying rental homes in the Coeur d'Alene area

Tue, 07 Apr 2009 20:01:26 -0500

30% of all sales are vacation-home buyers and investment home buyers. Sure that number has dropped from 33%, but it's still a very strong number.

Who are the buyers? Investment-home buyers in 2008 had a median age of 47, earned $85,000, and bought a home that was fairly close to their primary residence.

WSJ Article here

The thing is, the investors that are buying now are much more financially stronger than the bulk of investors that purchased 3-5 years ago. Today they are coming in with at least 30-35% down and all too often, cash for full purchase. They are also looking for serious deals, which has resulted in the buying of REO's and Short-Sales more frequently than a traditional re-sale.

Video tour of a beautiful Coeur d'Alene Idaho custom home on acreage - it's my first, enjoy!

Mon, 30 Mar 2009 13:24:14 -0500

This weekend I bought myself a Flip MinoHD, it's the same size as my Blackberry Pearl and to tell you I'm "in love" would be a serious understatement.

Saturday afternoon I went out to a beautiful home I have for sale and did an extensive video tour of the property. The tour is so extensive, that it's 2 videos because YouTube has an upload time limit and oops, I exceeded it!

Anyway, enjoy this tour. The home is located at 1977 S. Agate Road in Coeur d'Alene Idaho. It has 4 bedrooms, 2.5 bathrooms and 3,300 finished square feet all situated on 2.87 acres overlooking the prairie, mountains and rivers.

Coeur d'Alene Idaho - All I can say is WOW "Black Rock North faces foreclosure"

Fri, 03 Apr 2009 10:55:38 -0500

Bank files action for $14.6 million against luxury home project on Lake Coeur d’Alene

The complaint filed by American Bank, based in Bozeman, Mont., centers on Black Rock North, a 1,100-acre tract that Chesrown and his investment companies envisioned as an extension of the original Black Rock luxury golf club at Rockford Bay.

Though construction crews built the second golf course, the demand for luxury homes to pay for the project has collapsed. No homes or lots have been sold and the Black Rock North Development group has defaulted. The plans included 206 homes and 325 condo units overlooking the lake.

The development company hasn’t made a payment this year and efforts to reach a loan restructuring agreement with American Bank have so far failed, said Chesrown’s lawyer, Barry Davidson, a Spokane attorney specializing in bankruptcy, receiverships and business restructurings.

Davidson emphasized that Black Rock North is separate from the adjoining Club at Black Rock, the area’s first exclusive waterfront golf retreat.

Interesting...

Article here

Coeur d'Alene Idaho - Tree City USA 25 years and counting!!

Wed, 01 Apr 2009 23:35:00 -0500

The Arbor Day Foundation has once again hailed Coeur d'Alene as a "Tree City" - this makes it the 25th consecutive year that Coeur d'Alene has been a Tree City.

The Tree City USA® program, sponsored by the Arbor Day Foundation in cooperation with the USDA Forest Service and the National Association of State Foresters, provides direction, technical assistance, public attention, and national recognition for urban and community forestry programs in thousands of towns and cities that more than 120 million Americans call home.