Tag: Sandpoint Idaho Realtor

  • Thank You North Idaho – Sandpoint Realty

    Thank You North Idaho – Sandpoint Realty

    Sandpoint Idaho Special – As are the clients I have worked with

    Whether we’ve recently worked together, or it’s been a while, I’m so grateful for your trust and support this year. Helping people find a place to call home, in North Idaho, is truly at the heart of this work — and it’s something to be thankful for every single day. If anything comes up (big or small) for you or your loved ones, or if you just have a question about the market, reach out anytime and support is just a message away. Wishing you a season filled with comfort, good food, and all the things that make home feel special.

  • My Post

    My Post

    1st Sandpoint Realty ‘Simply Sunday’ helps show the sharp contrasts in colors of the season.

    Sandpoint Realty Simply Sunday Pumpkin

    While I certainly enjoy decorating for the different Holidays, Halloween is certainly a double edge sword.  

    The pumpkin bags are filled with needles and leaves.  Those do not hop in the bags themselves…lol.  As you can see there is a layer of needles in just one part of the yard that needs be raked and bagged.  

    Fortunately for me, I enjoy the outside work during the North Idaho fall months.  The long shadows, cool but not cold temps, softer sunlight, glimpses of the year past coming to an end.  A chance to peacefully reflect, while loosing ones self with the work at hand.

    Enjoy the week ahead North Idaho.  Be safe, stay healthy!

    ‘Experience the Difference’ in working with a full time Professional Sandpoint Realty REALTOR® Your wants and needs will always be my priorities. 

    Mark Don McInnes

    Broker – Owner

    208 255-6227

    SandpointNorthIdaho.com – North Idaho Home & Land Searches

    Sandpoint Realty LLC

    1205 Highway 2

    Sandpoint, Idaho 83864

  • Selling Your North Idaho Home In 2025? Here’s What Buyers Want (And How T

    Selling Your North Idaho Home In 2025? Here’s What Buyers Want (And How T

    Thinking about listing your North Idaho home in 2025? If so, you’re smart to start planning ahead. With North Idaho housing inventory rising in many market segments, including Sandpoint-Bonners Ferry-Priest River-Sagle and more, today’s sellers need more than just a “for sale” sign to stand out. 1
    The good news? You can still make a strong impression and command top dollar—if you know what today’s buyers are really looking for.
    We’ve outlined six of the top homebuyer priorities in 2025, along with a clear action plan to help you position your property for success. Whether you’re weeks or months away from listing, these insights will help you attract serious offers and maximize your return. Even if you don’t plan on selling you North Idaho home in the near future, keeping these items in mind while living there will make the process easier when you do sell, not to mention the increased Idaho living pleasure of a well maintained Sandpoint Idaho area home.

    BUYER PRIORITY #1: Move-In-Ready Condition
    Buyers want homes that are ready to enjoy from day one. In fact, a recent survey found that 94% of buyers said it was either “very important” or “somewhat important” to buy a home that’s move-in ready.2 Properties that feel fresh and well-maintained are far more likely to attract competitive offers.
    Seller Action Plan:

    • Refresh your interior. This might include painting rooms in neutral, contemporary colors and swapping outdated fixtures for more modern alternatives. We may also recommend that you take down heavy drapery or dated blinds to brighten your space and clean or replace flooring to create a clean and cohesive look.
    • Fix anything that’s broken. If something isn’t working quite right, repair it now. Provide maintenance records, if you have them, and consider a pre-listing inspection to identify potential issues early—helping avoid delays or negotiations later. We can advise you on the best course of action given your circumstances and your home’s condition.
    • Strategically enhance kitchens and bathrooms. Modern kitchens and bathrooms are a major selling point for many buyers.3 While you don’t necessarily need a full remodel, smaller updates—like replacing kitchen appliances or retiling a bathroom shower—can make a big difference. At a minimum, ensure all surfaces–-including cabinets, countertops, and floors—are clean and in good condition, and address any grout issues or needed repairs.

    Our team can help you identify and prioritize strategic improvements that will maximize your home’s appeal and market value. Contact us for a free evaluation!

    BUYER PRIORITY #2: Flexible Closing Timelines
    Many of today’s buyers are juggling complicated schedules and circumstances, especially if they need to time the sale of their current home with the purchase of their new one. If you are able to offer a flexible closing timeline, it can deliver an advantage.
    Seller Action Plan:

    • Define your ideal timeline and explore your level of flexibility. We can discuss your goals and expectations for a closing timeline and consider how much flexibility you might be able to offer buyers. This will depend on your specific circumstances, but additional leeway can be helpful.
    • Make a plan to get out of your home quickly if needed. Some buyers need to move out of their current home quickly or relocate by a certain date to start school or a new job. Therefore, they may require an accelerated closing timeline. These buyers will be particularly interested in finding sellers who are willing and able to accommodate a fast closing. Worried about finding a new home if yours sells quickly? We can help you assess your options.4
    • Leverage your real estate agent’s negotiation expertise. Closing dates can be tricky to navigate. As experienced professionals, we can help you work through the details to arrive at a mutually beneficial arrangement for you and the buyer.

    Trying to figure out a plan for your move? Schedule a free consultation to discuss your specific selling timeline and explore flexible closing options.

    BUYER PRIORITY #3: Assistance & Incentives 
    The high cost of purchasing a home leaves many homebuyers financially tapped out. Offering strategic assistance and incentives can make your property stand out and attract a larger pool of potential purchasers. That’s why, in a recent survey of real estate agents, the majority recommended offering some type of homebuyer incentive.5
    Seller Action Plan:

    • Consider closing cost assistance. Closing costs remain a significant barrier for many homebuyers, especially first-timers or those with limited savings. You might cover some of these expenses—such as mortgage fees or the buyer’s agent commission—using proceeds from the sale6. This type of assistance can make a big difference in helping buyers afford your home.
    • Evaluate the value of a mortgage rate buydown. Another option popular with buyers is a temporary or permanent mortgage rate buydown.7 This means that you pay a lump sum upfront to reduce their mortgage rate (and their monthly payments), making a home purchase significantly more affordable for buyers.
    • Offer an improvement allowance or home warranty. For homebuyers who are already stretched financially, the cost of home improvements and repairs can be a big concern. One way to alleviate those concerns is to offer a home improvement allowance. For example, you could offer to pay a set amount toward new kitchen appliances or to replace worn carpeting. Another solution is to offer buyers a one-year home warranty from a reputable provider.

    The most effective incentive strategies will depend on your specific property and its target buyers. Our team can help you identify creative and impactful options tailored to your home. 

    BUYER PRIORITY #4: Curb Appeal 
    A well-maintained and visually appealing exterior, often referred to as “curb appeal,” is essential for generating interest and bringing buyers in the door. In fact, 97% of Realtors say that curb appeal is important to buyers, and research indicates that properties with strong curb appeal tend to sell faster and for higher prices.8
    Seller Action Plan:

    • Maintain an immaculate exterior. Ensure your landscaping is well-maintained while it’s on the market, with your lawn mowed, hedges trimmed, and flower beds weed-free. If this isn’t your strong suit, invest in a professional service. When it comes to your home itself, a welcoming entrance with a clean, freshly painted front door and updated hardware can make a big difference.
    • Address visible exterior elements. Inspect and touch up any peeling or faded paint on the siding or trim, and repair or replace any damaged siding or roofing. Check that your walkways and driveway are in good condition and that your outdoor lighting is sufficient and in working order.
    • Keep things clean. Thoroughly power wash the siding, walkways, driveway, and any other exterior surfaces to remove dirt, grime, and mildew. Clean all windows and screens, both inside and out, to maximize natural light and improve the overall appearance of your home.

    We’re happy to offer specific recommendations to enhance your property’s curb appeal and to refer you to landscapers, painters, and other professionals for help. 

    BUYER PRIORITY #5: Functional Spaces
    Today’s buyers often prioritize properties that offer flexible and functional living spaces capable of adapting to their evolving needs, ranging from entertaining to remote work.9 This includes the increasing importance of reliable, high-speed internet connectivity, which has become essential for work and school, smart home technology, and overall modern living.
    Seller Action Plan:

    • Showcase versatile spaces to highlight their adaptability. Stage rooms to demonstrate their potential for various uses, such as a dedicated home office, a guest room that can also serve as a workout space, or a flexible living area that can accommodate a reading nook.
    • Highlight storage and organization solutions. Functional living isn’t just about primary spaces—it’s also about smart storage. Showcase built-in shelving, closet systems, and other storage solutions that help keep the home organized and clutter-free. This gives buyers a sense of ease and livability.
    • Keep connectivity in mind. Today’s buyers want high-tech capabilities without sacrificing style.10 High-speed internet access has become increasingly important, and technology features—like home automation systems and built-in charging stations—offer seamless integration while preserving a clean, modern aesthetic. If your home features any coveted technology features, be sure to highlight them.

    Our team can help you stage your home to attract more potential buyers. Reach out for our recommendations!

    BUYER PRIORITY #6: Energy Efficiency & Sustainability 
    With rising utility costs and a focus on environmental responsibility and clean living, buyers are looking for homes with eco-friendly features.11 A few small changes can help you make the most of that desire and draw in conscious buyers. 
    Seller Action Plan:

    • Incorporate and highlight sustainable materials. Buyers are increasingly drawn to homes that feature eco-conscious design choices. If you’ve used sustainable materials—like bamboo flooring, recycled glass countertops, low-VOC paints, or reclaimed wood accents—make sure to highlight these details. They not only enhance your home’s aesthetic but also signal a thoughtful, environmentally responsible approach to design.
    • Install energy-efficient features. While it isn’t always cost-effective to add these features solely to sell your home, if you plan on making any upgrades to windows, systems, or appliances, keep energy efficiency in mind. You may also want to consider upgrades like a smart thermostat that can both help cut utility bills and show potential buyers that your home is loaded with the latest technology.
    • Take steps to reduce energy loss throughout the home. Simple upgrades like sealing gaps around doors and windows, adding weather stripping, or insulating the attic can significantly improve a home’s energy efficiency.12 These improvements may seem small, but they can lower utility bills and demonstrate to buyers that the home has been well maintained with long-term savings in mind.

    We can help you identify the most impactful energy-efficient upgrades and highlight your home’s sustainable features to attract today’s eco-conscious buyers.

    Partnering for Success: Your Strategic Advantage in Today’s Market
    Successfully selling your home in today’s competitive and ever-evolving market requires more than luck—it demands insight, preparation, and expert strategy. By aligning your listing with the priorities of today’s buyers, you’ll position your property to stand out and sell faster for top dollar.
    Our team is here to guide you every step of the way. From personalized recommendations and trusted vendor referrals to strategic pricing and marketing, we’re committed to helping you achieve a smooth and profitable sale.
    Ready to take the next step? Contact us today for a complimentary home value assessment and customized sales plan designed to make your property shine. Let’s work together to turn your real estate goals into reality!

    The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

    Sources:

    1. The Mortgage Report – https://themortgagereports.com/111334/monthly-for-sale-home-listings
    2. Bright MLS – https://brightmls.com/article/what-will-homebuyers-want-in-2025
    3. Homelight – https://www.homelight.com/blog/which-renovations-increase-home-value/
    4. Homelight – https://www.homelight.com/blog/buyer-how-to-buy-a-house-while-selling-your-own/
    5. Homelight – https://www.homelight.com/blog/real-estate-top-agent-insights-for-end-of-year-2024/
    6. Federal Housing Finance Authority – https://www.fhfa.gov/blog/insights/opening-new-doors-overcoming-obstacles-to-attain-affordable-homeownership
    7. LendingTree – https://www.lendingtree.com/home/mortgage/buydown/
    8. National Association of Realtors – https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact-report-outdoor-features#
    9. Yahoo – https://www.yahoo.com/lifestyle/home-trends-buyers-looking-2025-151535883.html
    10. Apartment Therapy – https://www.apartmenttherapy.com/2025-house-style-trend-prediction-real-estate-37448456
    11. National Association of Realtors – https://www.nar.realtor/magazine/real-estate-news/sales-marketing/13-features-new-home-buyers-say-are-essential-desirable
    12. EnergyStar – https://www.energystar.gov/saveathome/seal_insulate/why-seal-and-insulate
  • Extreme Sandpoint – Naples Idaho Low Temps ! !

    Extreme Sandpoint – Naples Idaho Low Temps ! !

    North Idaho is forecasted for extreme low temps this coming week after Super Bowl Sunday.   Wunderground Weather is the service I have come to most trust with their predictions.  As unpredictable as the weather may be.

    What we should be concerned about and very cognizant of, is the 5 to 6 days of not going above freezing temperatures in North Idaho.   This means, should your pipes freeze during the extreme lows at night, the day temperatures never help in unfreezing the pipes.  The freezing pipes with the temps remaining below freezing only grow more difficult to thaw.

    Being aware of this possible issue solves the ugly possibility of frozen water pipes.  Simply having a drip of water, be sure both hot and cold dripping, at every faucet keeps the water moving enough to keep from freezing.  I personally feel more comfortable when in single digits keeping it at a steady dribble rather than a drip.  Also with the single digits I will open cabinet doors to allow heat into other wise cooler areas.  

    Make it a safe winter in North Idaho.  Be aware of your surroundings and how best to prepare for these type of temperatures.  Be safe, stay healthy.   

  • North Idaho Remodeling Projects with Spring Coming

    North Idaho Remodeling Projects with Spring Coming

    4 Home Remodeling Projects with the Highest ROI

    Ask any North Idaho homeowner about what they would like to change about their home, and most will say, “How much time do you have to discuss those items?
    Home improvements (cue Tim Allen) or home remodeling projects can stem from a variety of motivations, like preparing your home to put on the market, adding space for a growing family, addressing outdated features or aesthetics, or fixing structural/functional issues with the home.

    However, when it comes to Sandpoint Idaho Home Remodeling projects, too many people assume their project will proportionally increase the value of their home. Few actually consider the complete scope of return on investment (ROI), taking into account not only potential impact on resale value but also the total costs of time, labor, and materials. Some renovations may provide more “quality of life” ROI by improving comfort and aesthetics without significantly impacting resale value, while others can deliver notable financial returns.

    Whether you’re looking to upgrade your Sandpoint Idaho living space, increase the equity of your Bonners Ferry Idaho home, or trying to make some quick changes to improve your resale price, here are four remodeling projects with the highest ROI and some tips on how to get them done.

    Top 4 Home North Idaho Remodeling Projects with the Highest ROI

    undefinedBefore diving into specific projects, it’s important to understand how the data supporting these ROI estimates was gathered. This article references findings from the 2024 Cost vs. Value Report conducted by Zonda Media, a reputable research firm in the real estate and construction industries. The report’s ROI figures are based on national averages for both the cost of materials and labor, which means that regional differences (ie: Idaho or more specifically North Idaho) may lead to variations in actual returns.

    1. Garage Door Replacement

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    • Job Cost: $4,513
    • Resale Value: $8,751
    • ROI: 193.9%

    Replacing an old garage door is one of the simplest ways to dramatically boost your home’s curb appeal—and it happens to deliver the highest ROI of any remodeling project. The impact is largely due to the prominent visual space a garage door occupies on a home’s exterior. A sleek, modern garage door can make your entire facade look fresher and more attractive to buyers.

    Garage doors with the highest ROI include insulated steel doors with modern paneling, custom carriage-style doors, and those featuring windows or decorative hardware. These options not only enhance the home’s exterior aesthetics but also improve functionality and energy efficiency.

    2. Steel Entry Door Replacement

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    • Job Cost: $2,355
    • Resale Value: $4,430
    • ROI: 188.1%

    Upgrading to a steel entry door is a simple yet impactful change that can drastically improve both the look and energy efficiency of your home. Steel doors cost less than wood ones, giving you a cost effective way to make a big impact on the curb appeal of a home, without sacrificing performance, life span, or durability.

    Why It Works:

    • Cost-Effective Curb Appeal: Steel doors are less expensive than wood but provide a similar aesthetic boost. This makes them a budget-friendly way to enhance a home’s exterior.
    • Energy Efficiency: Many steel doors come with insulating cores, which can help keep your home comfortable year-round and lower energy bills.
    • Increased Security: Steel doors are harder to break into, providing an added layer of safety that appeals to security-conscious buyers.

    3. Manufactured Stone Veneer

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    • Job Cost: $11,287
    • Resale Value: $17,291
    • ROI: 153.2%

    Manufactured stone veneer (MSV) is a high-ROI project because it delivers a striking visual upgrade at a relatively moderate cost. MSV is an artificial cladding material designed to mimic the look of natural stone, making it a cost-effective way to add texture and sophistication to your home’s exterior.

    Why It Works:

    • Strong Visual Impact: Stone veneers add depth and elegance, creating an upscale appearance that can significantly boost curb appeal.
    • Durability and Low Maintenance: Unlike natural stone, MSV is lightweight, easier to install, and resistant to wear and tear.
    • Perceived Value: Even though it’s a faux material, MSV adds an air of luxury and craftsmanship that can make your home more appealing to buyers.

    Pro Tip: Use manufactured stone veneer to accentuate specific areas, such as around the entryway or along the lower portion of the facade, for maximum visual impact without overspending.

    4. Minor Kitchen Remodel (Midrange)

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    • Job Cost: $27,492
    • Resale Value: $26,406
    • ROI: 96.1%

    According to Homelight’s “Top Agent Insights End of Year 2024 Report”, “88% of agents say that upgraded kitchens and appliances are one of the best selling points for homes”–a significant increase from the previous year. https://homelightblog.wpengine.com/wp-content/uploads/2024/12/homelight-top-agent-insights-end-of-year-2024-report.pdf

    The trick to ROI with a kitchen remodel is the budget, and how you decide to balance what to upgrade, the quality of materials, and how much to work within the existing layout. For example, you can make a big impact with less expense if you keep your current cabinet boxes but upgrade the doors and hardware. However, if you strike that balance, you can recoup much of your investment. If you’re looking to sell, an updated kitchen will appeal to buyers, which can also help your home stand out and sell faster.

    Why It Works:

    • High Buyer Interest: Kitchens are a focal point for most buyers, so even modest improvements can make a significant impact.
    • Affordable Upgrades: By focusing on midrange materials—such as quartz countertops, midrange appliances, and refaced cabinets—you can keep costs manageable while still delivering a fresh look.
    • By keeping the existing layout and avoiding costly structural changes, you can modernize your kitchen while keeping costs down.

    Key Takeaways for Homeowners

    7 out of the 10 best ROI projects all have to do with improvements to the exterior of your home, which makes one thing very clear: Boosting the curb appeal of your Idaho home in a cost-effective manner will give you the best ROI if you’re thinking about selling this year.

    If you look at the current housing market, you can start to see why that is. In the post-pandemic frenzy, buyers had to accept whatever they could find. However, housing inventory has increased over the last couple of years, giving buyers more options. Additionally, due to high-interest rates and affordability issues, the current market favors older, move-up home buyers who are sitting on equity, and these buyers can afford to be pickier about the home they buy.

    You can see these trends play out in the “Top Agent Insights End of Year 2024 Report” conducted by HomeLight:

    Given these trends, it’s no wonder that the remodeling projects with the best ROI are those that make the home stand out from other homes in the area and leave a strong impression with potential buyers.

    Conversely, the projects with the lowest ROI involve major remodels or upscale materials. Anytime you alter the footprint of a home—such as by moving walls or adding square footage—you’ll incur higher costs and lower returns. Unless you’re a general contractor or a skilled DIYer, these high-end renovations typically aren’t worth it from a purely financial perspective. The one caveat is if you’re in a market where high-end appliances and materials are the rule not the exception.

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    How to Get Started on a Remodeling Project

    Starting a remodeling project can feel overwhelming. Here’s how to set yourself up for success:

    1. Outline Your Project Goals:
    Before you dive into the nitty-gritty of remodeling, take a step back and clarify what you hope to achieve.

    Are you remodeling to improve aesthetics? To improve functionality or comfort for your family? To prepare your home for the market or boost your resale value? Is it an essential repair? After you decide on why you’re doing it, you can take a step back and decide what is worth the cost to you.

    2. Get inspired:
    Take time to gather ideas and give shape to your vision. Whether you’re updating a single room or tackling a whole-house remodel, these resources can inspire you:

    • Houzz
      – A go-to platform for home remodeling ideas, complete with photos, product links, and even local contractor recommendations.
    • Pinterest
      – Create mood boards for different rooms by pinning your favorite designs and layouts. You can also add ‘-pinterest’ to Google searches to find more targeted boards and collections of remodeling ideas on Pinterest.
    • This Old House
      – Packed with articles, videos, and guides on home renovation projects, from DIY fixes to large-scale remodels.
    • YouTube Channels: Follow popular home renovation YouTubers who share real-life projects, product reviews, and practical tips.
    • Visit Local Showrooms: You can visit the showrooms or warehouses from local manufactures for ideas on fixtures, cabinetry, and counter tops.
    • Open Houses – Stop by open houses in your area to get a feel for what’s popular and what other homeowners have done.

    Local Remodeling / Contractor Websites: Many will post galleries and before/after images of their renovations, and these galleries can be a goldmine for practical remodeling ideas!

    3. Prioritize your wants vs. needs:
    Once you’ve gathered ideas, it’s time to separate the essentials from the extras.Must-Haves: These are the non-negotiable items—structural fixes, code-compliance upgrades, or critical repairs.

    Nice-to-Haves: These are aesthetic choices or features that you’d like to include if your budget allows.A prioritized list will help you make tough decisions if costs start to climb or timelines get tight.

    4. Create a scope and timeline:
    Clearly defining what’s included (and excluded) in your remodel is critical for staying on schedule and within budget.What’s Included: Are you only updating finishes and fixtures, or are you changing the layout and moving walls?
    Project Phases: If you’re remodeling multiple areas, consider breaking the project into phases to manage timelines more effectively.
    Whether you’re updating your home to sell or simply want to enjoy a more modern space, focusing on high-ROI projects is a smart strategy. From replacing your garage door to enhancing your home’s exterior with stone veneer, these upgrades can boost both your home’s value and appeal.

    Curious about what features are popular in your neighborhood? Thinking of moving and wondering what remodeling projects, if any, you should do before listing? Want recommendations on contractors? I’m happy to help!
    Expected Timelines: Be realistic about how long the project will take, especially if you’re working around major life events or seasonal weather.

    5. Set a realistic budget:
    Start by researching the typical costs for your specific type of remodeling project in your area. Resources like Remodeling Magazine’s Cost vs. Value Report, HomeAdvisor, and NAHB provide national and regional averages for popular renovations like kitchens, bathrooms, and additions.

    6. Include a Contingency Fund:
    Even with thorough planning, unexpected costs seem to always arise. Many experts recommend setting aside 15% – 30% of your total budget for contingencies.

    7. Research contractors & Get Multiple Quotes:
    If you’re hiring contractors, request at least three detailed quotes to compare prices and scope of work. Make sure to clarify what’s included in each quote to avoid misunderstandings. And use your checklist below for some tips on hiring a contractor!Checklist for Hiring a Contractor
    Finding the right contractor is crucial for a successful remodeling project. Here’s a quick checklist to help you hire the right professional:Get recommendations from friends, family, neighbors, and your real estate agent. Word of mouth is one of the most reliable ways to find a trusted contractor. Ask people you trust about their experiences and if they would hire the contractor again. After you have a recommendation, you can also search for reviews online.
    Check credentials, licensing, and insurance. Verify that the contractor is licensed to work in your state. Most states have an online database for checking contractor licenses. You can also look for contractors certified by reputable organizations, such as the National Association of the Remodeling Industry (NARI).
    Review past projects and ask for client references. Ask to see a portfolio of previous projects similar to yours. Pay attention to the quality of work and whether their style aligns with your vision.
    Request detailed bids from multiple contractors. Ask for written estimates that break down costs into categories such as labor, materials, permits, and any additional fees. Compare bids carefully to ensure all contractors are quoting on the same scope of work.
    Ensure the contract includes a clear scope of work, timeline, and payment terms.
    Check references – A reputable contractor should have no issue providing references. Contact past clients and ask about their experience.

    Avoid red flagsUnusually Low Bids: If a bid is significantly lower than others, it could indicate corner-cutting or hidden costs.
    Pressure to Pay Upfront: A small deposit is normal, but never pay the full amount before work begins.
    Lack of Written Contract: Never agree to verbal agreements only.
    Poor Communication: If a contractor is difficult to reach or dismissive during the bidding process, this may continue during the project.

  • Sandpoint Mid-Year Market Update for 2024: What Buyers and Sellers Need to Know

    Sandpoint Mid-Year Market Update for 2024: What Buyers and Sellers Need to Know

    Sandpoint Idaho Mid-Year Market Update for 2024: What North Idaho Buyers and Sellers Need to Know

    This post written based on National information and can used as knowledge towards local North Idaho trends.  Do contact me if you have questions more specific to our North Idaho areas.  Even within Sandpoint areas there are many different niches which show themselves differently.  But the overall trends remain very close to national statistics.  

    Last December, when the Federal Reserve projected a series of benchmark rate cuts in the coming year, some analysts speculated that mortgage rates—which had recently peaked near 8%—would fall closer to 6% by mid-2024.1,2,3 Unfortunately, persistent inflation has delayed the central bank’s timeline and kept the average 30-year mortgage rate hovering around 7% so far this year.2

    While elevated mortgage rates have continued to dampen the pace of home sales and affordability, there have been some positive developments for frustrated homebuyers. Nationwide, the inventory shortage is starting to ease, and an uptick in starter homes coming on the market has helped to slow the median home price growth rate, presenting some relief to cash-strapped buyers.4
    There are also signs that sellers are adjusting to the higher rate environment, as a growing number list their properties for sale.4 Still, economists say a persistent housing deficit—combined with tighter lending standards and historically high levels of home equity—will help keep the market stable.5
    What does that mean for you? Read on for our take on this year’s most important real estate news and get a sneak peek into what analysts predict is around the corner for 2024.

    MORTGAGE RATE CUTS WILL TAKE LONGER THAN EXPECTED
    At its most recent meeting on May 1, the Federal Reserve announced that it would keep its overnight rate at a 23-year high in response to the latest, still-elevated inflation numbers.6
    While mortgage rates aren’t directly tied to the federal funds rate, they do tend to move in tandem. So, while expected, the Fed’s announcement was further proof that a meaningful decline in mortgage rates—and a subsequent real estate market rebound—is farther off than many experts predicted.
    “The housing market has always been interest rate sensitive. When rates go up, we tend to see less activity,” explained Realtor.com chief economist Danielle Hale in a recent article. “The housing market is even more rate sensitive now because many people are locked into low mortgage rates and because first-time buyers are really stretched by high prices and borrowing costs.”7
    Many experts now speculate that the first benchmark rate cut will come no sooner than September, so homebuyers hoping for a cheaper mortgage will have to remain patient.
    “We’re not likely to see mortgage rates decline significantly until after the Fed makes its first cut; and the longer it takes for that to happen, the less likely it is that we’ll see rates much below 6.5% by the end of the year,” predicted Rick Sharga, CEO at CJ Patrick Company, in a May interview.8

    What does it mean for you? Mortgage rates aren’t expected to fall significantly any time soon, but that doesn’t necessarily mean you should wait to buy a home. A drop in rates could lead to a spike in home prices if pent-up demand sends a flood of homebuyers back into the market. Reach out to schedule a free consultation so we can help you chart the best course for your home purchase or sale.

    BUYERS ARE GAINING OPTIONS AS SELLERS RETURN TO THE MARKET
    There is a silver lining for buyers who have struggled to find the right property: More Americans are sticking a for-sale in their yard.9 Given the record-low inventory levels of the past few years, this presents an opportunity for buyers to find a place they love—and potentially score a better deal.
    In 2023, inventory remained scarce as homeowners who felt beholden to their existing mortgage rates delayed their plans to sell. However, a recent survey by Realtor.com shows that a growing number of those owners are ready to jump in off the sidelines.10
    While the majority of potential sellers still report feeling “locked in” by their current mortgage, the share has declined slightly (79% now versus 82% in 2023). Additionally, nearly one-third of those “locked-in” owners say they need to sell soon for personal reasons, and the vast majority (86%) report that they’ve already been thinking about selling for more than a year.10
    Renewed optimism may also be playing a part. “Both our ‘good time to buy’ and ‘good time to sell’ measures continued their slow upward drift this month,” noted Fannie Mae Chief Economist Doug Duncan in an April statement.11
    However, the current stock of available homes still falls short of pre-pandemic levels, according to economists at Realtor.com. “For the first four months of this year, the inventory of homes actively for sale was at its highest level since 2020. However, while inventory this April is much improved compared with the previous three years, it is still down 35.9% compared with typical 2017 to 2019 levels.”4

    What does it mean for you? If you’ve had trouble finding a home in the past, you may want to take another look. An increase in inventory, coupled with relatively low buyer competition, could make this an ideal time to make a move. Reach out if you’re ready to search for your next home.
    If you’re hoping to sell this year, you may also want to act now. If inventory levels grow, it will become more challenging for your home to stand out. We can craft a plan to maximize your profits, starting with a professional assessment of your home’s current market value. Contact us to schedule a free consultation.

    HOME PRICES ARE RISING AT A MORE MANAGEABLE PACE
    Homebuyers struggling with high borrowing costs have something else to celebrate. The national median home price has remained relatively stable over the past year, due to sellers bringing a greater share of smaller, more affordable homes to the market.4
    In addition to offering cheaper homes, a recent survey found that home sellers are also adjusting their expectations when it comes to pricing. In many regions, just 12% anticipate a bidding war (down from 23% last year) and only 15% expect to sell above list price (versus 31% in 2023).10
    But buyers shouldn’t expect a fire sale. According to Realtor.com’s April Housing Market Trends Report, “On an adjusted per-square-foot basis, the median list price grew by 3.8%, as homes continue to retain their value despite increased inventory compared with last year.”4
    Dr. Selma Hepp, chief economist for the data firm CoreLogic, projects that home prices will keep rising at a gradual pace through the rest of 2024. “Spring home price gains are already off to a strong start despite continued mortgage rate volatility. That said, more inventory finally coming to market will likely translate to more options for buyers and fewer bidding wars, which typically keeps outsized price growth in check.”12

    What does it mean for you? An increase in more affordable housing stock is great news, especially for first-time buyers. And with home values expected to keep rising, an investment in real estate could help you build wealth over time. Reach out to discuss your goals and budget, and we can help you decide if you’re ready to take your first step on the property ladder.

    DESIRE TO OWN PERSISTS, BUT AFFORDABILITY REMAINS AN OBSTACLE
    Surveys show that the American dream of homeownership is alive and well, despite the financial challenges. In fact, a recent poll by Realtor.com found that 55% of Millennial and 40% of Gen Z respondents believe that now is a good time to buy a home.13
    According to Fannie Mae Chief Economist Doug Duncan, buyers are starting to adapt to the new economic reality. “With the historically low rates of the pandemic era now firmly behind us, some households appear to be moving past the hurdle of last year’s sharp jump in rates, an adjustment that we think could help further thaw the housing market. We noted in our latest monthly forecast that we expect to see a gradual increase in home listings and sales transactions in the coming year.”
    The Realtor.com study also revealed that even a small drop in mortgage rates could give a big boost to homebuyer demand and affordability. In fact, 40% of the buyers polled would find a home purchase attainable if rates fall under 6%, and an additional 32% plan to enter the market if rates dip below 5%.13
    But waiting for rates to drop isn’t the only approach that Americans are using to afford a home. A survey by U.S. News & World Report found that determined homebuyers are employing a variety of strategies, including shopping multiple lenders (52%), purchasing discount points to lower their rates (36%), and opting for adjustable-rate mortgages (36%). More than three-quarters of today’s buyers also hope to refinance to a lower rate in the future.14
    Despite the obstacles, these respondents remain steadfast in their desire to own a home, listing financial benefits, stability, and more space as their top motivations for wanting to buy.14

    What does it mean for you? If you’re dreaming of a new home, let’s talk. We can help you evaluate your options and connect you with a mortgage professional to discuss strategies you can use to make your monthly payments more affordable. And remember, in many cases, you can refinance if rates drop in the future.
    If you have plans to sell, it will be crucial to enlist the help of a skilled agent who knows how to maximize your profit margins and draw in qualified buyers. Reach out for a copy of our multi-step Property Marketing Plan.

    WE’RE HERE TO GUIDE YOU
    While national housing reports can give you a “big picture” outlook, much of real estate is local. And as local market experts, we know what’s most likely to impact sales and drive home values in your particular neighborhood. With Sandpoint Realty, as a trusted partner in your real estate journey, we can guide you through the market’s twists and turns.
    If you’re considering buying or selling a North Idaho home in 2024, contact us now to schedule a free consultation. Let’s work together and craft an action plan to meet your real estate goals.

    The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate for advice regarding your individual needs.
    Sources:

    1. CBS News – https://www.cbsnews.com/news/federal-reserve-rate-decision-pause-december-13/
    2. Bankrate – https://www.bankrate.com/mortgages/historical-mortgage-rates/
    3. Fannie Mae – https://www.fanniemae.com/media/50096/display
    4. Realtor.com – https://www.realtor.com/research/april-2024-data/
    5. Bankrate – https://www.bankrate.com/real-estate/is-the-housing-market-about-to-crash/
    6. NPR – https://www.npr.org/2024/05/01/1248454950/federal-reserve-inflation-interest-rates
    7. Realtor.com – https://www.realtor.com/news/trends/will-the-fed-cut-interest-rates-2024-housing-market/
    8. The Mortgage Reports – https://themortgagereports.com/32667/mortgage-rates-forecast-fha-va-usda-conventional
    9. Fast Company – https://www.fastcompany.com/91106568/housing-market-inventory-rising-across-country-maps
    10. Realtor.com – https://www.realtor.com/research/2023-q1-sellers-survey-btts/
    11. Fannie Mae – https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey
    12. CoreLogic – https://www.corelogic.com/press-releases/corelogic-us-annual-home-price-growth-slows-still-up-by-over-5-february/
    13. Realtor.com – https://www.realtor.com/research/america-dream-survey-feb-2024/
    14. US News & World Report – https://money.usnews.com/loans/mortgages/articles/2024-homebuyer-survey

  • Special Treat at Charlie Lane Showing

    Special Treat at Charlie Lane Showing

    I have long stated not to venture out in North Idaho without a camera.  No matter a phone camera or regular.  But some of the best shots I have gotten have been spontaneous and would not have been available minutes later.

    While meeting another agent at our listing on Charlie Lane I needed turn left from the paved county road to the private road leading to listing less than a mile away.  The street sign being rather unique to say the least.  Worth stopping to share.  

    After meeting with the buyers agent and clients, at Charlie Lane I left them to enjoy viewing the log home and property.  On leaving I saw both the deer and the turkeys within a quarter mile of the Street Sign.  Not a bad Saturday Morning drive.  

    Photo of the turkeys blurry.  They were blending in so well difficult to get focused.  None the less worth sharing. 

    North Idaho is so incredibly beautiful and virtually always offering something visual to remind us how fortunate we are to live here.  

    If you are interested in seeing short YouTube video of 136 Charlie Lane – Sandpoint – Idaho – Click Here.  Selkirk MLS 20240597

    ‘Experience the Difference’ in working with a full time Professional Sandpoint Realty REALTOR®.  Your wants and needs will always be my priorities. 

  • Sandpoint Realty ‘Thursday Thought’ – April 6, 2023

    Sandpoint Realty ‘Thursday Thought’ – April 6, 2023

    Sandpoint Realty ‘Thursday Thought’ warms to the thought of spring rain’s bringing fresh green, and blooms to even North Idaho region.

    Sandpoint Realty Thursday Thought Flowers

    As the new week approaches, North Idaho is expecting a series of intermittent rain showers.  While this may not sound like the most exciting forecast, the mid-50’s temperature range that accompanies the rain is sure to bring about a welcome change. The rain is expected to leave behind a fresh and clean feeling, and bring a burst of color to the landscape. 

    As the rain comes and goes, the valley floor will be left with a sparkling clean coating, while the ridges of the Selkirk and Cabinet Mountains will soon be the only places to see a dusting of white.  So, while the weather may not be perfect, there is still something to look forward to in the beauty and freshness that the rain will bring to North Idaho.

    If you’re considering buying or selling a Sandpoint North Idaho home, now may be the perfect time to start planning your next move. Do please reach out to me to discuss your options and what steps you may want to consider taking.  Whether you’re looking to upgrade, downsize, or just make a change, I’m here to help you navigate the process and achieve your real estate goals.

    ‘Experience the Difference’ in working with a full time Professional Sandpoint Realty REALTOR®.  Your wants and needs will always be my priorities.  

    Mark Don McInnes

    Broker – REALTOR®

    208 255-6227

    SandpointNorthIdaho.com – North Idaho Home & Land Searches

    Sandpoint Realty LLC

    1205 Highway 2

    Sandpoint, Idaho 83864

  • North Idaho Real Estate Crash?  Many Are Still Convinced

    North Idaho Real Estate Crash? Many Are Still Convinced

    Sandpoint Realty Wednesday Word 17.    67% of the general public believe the housing market is going to crash.  In that figure I would also include Real Estate Agents.  Here are just a few stats that are the other side of the coin or creating the proverbial ‘2nd side’ of the double edge sword.  

    While I believe we all are cognizant of the extremely volatile North Idaho Housing market-economy at the present time, I also believe the news media and social media are doing us no favors.

    Accurate figures can be used to mislead, when just showing one portion of a larger picture.  No one knows exactly where 2023 will take us.  Watching the video does however, show there is much more to the story mostly being heard in Social Media and News headlines.

    Sandpoint Realty Mortgage Rate Chart January 2023

    In giving a glimpse to the importance of knowing just how volatile this market is presently.  Chart used in video shows buyer climate at different interest rates.  The pictured chart is the same, but with January 2023 Mortgage rate figures being shown.  As of today the rates have again climbed to roughly 7%.  Do keep in mind that 7% is just a tad lower than our 50 year average.  Again, full picture being important.

    This ever changing market makes it extremely important to have a trusted counselor for your Real Estate needs.  Please do contact me with any specific question you may have regarding the local North Idaho Real Estate Market. 

    ‘Experience the Difference’ in working with a full time Professional Sandpoint Realty REALTOR®.  Your wants and needs will always be my priorities.  

    Mark Don McInnes

    Broker – REALTOR®

    208 255-6227

    SandpointNorthIdaho.com – North Idaho Home & Land Searches

    Sandpoint Realty LLC

    1205 Highway 2

    Sandpoint, Idaho 83864

  • Special Sandpoint Idaho Home for Sale – 3 bed 2 bath – 2 car attached garage

    Special Sandpoint Idaho Home for Sale – 3 bed 2 bath – 2 car attached garage

    Sandpoint Realty recent listing (courtesy Rain Silverhawk) is an excellent example of location-location-location. 

    Sandpoint Realty Sweetgrass Sandpoint Idaho Listing

    Just at the upper portion of the aerial you can see the home at the outskirts of Sandpoint Idaho & Ponderay Idaho city limits.  Marked are some nearby well known locations.  Also within the same radius, and not marked, are several restaurants, hotels, medical, grocery, Post Office, multi screen theater, and of course a fast food haven along Hwy 95.  

    Also of note should be that Schweitzer Ski Resort Village is but 9 miles from their base Park & Ride, if one chooses to drive rather than take the shuttle.  Access to Highway 95 (highway 2 leg to Bonners Ferry) and Highway 200 (to Clark Fork and Hope Idaho) very simple and accessible.

    As seen in the short YouTube video above, the home alone, on this very sought after and secluded street, is reason enough to set up a time to view, if not at least ask for additional information.  Add the benefits of these city comforts, shown on the aerial, all being less than 2 miles away, and this a must see home in Sandpoint Idaho.

    Selkirk MLS Listing 20230154    $599,000

    ‘Experience the Difference’ in working with a full time Professional Sandpoint Realty REALTOR®.  Your wants and needs will always be my priorities.  

    Mark Don McInnes

    Broker – REALTOR®

    208 255-6227

    SandpointNorthIdaho.com – North Idaho Home & Land Searches

    Sandpoint Realty LLC

    1205 Highway 2 – Sandpoint, Idaho 83864

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