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Ken's Real Estate Review
July 2022

  Ken Sugarman

   Residential REALTOR®
   Direct (208) 585-1032 

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Higher mortgage rates on top of already high home prices led to a significant slowdown in buyer activity and home sales this past month.  After getting so used to our overly hot and accelerating market these past two years, this cooling-off period has felt a bit more like a shocking and unwelcome freeze to some, especially to sellers who may have recently listed their homes with expectations of them flying off the market the first day at prices higher than their predecessors.  But, I believe for many, including myself, this is a welcome change and necessary movement toward a more normalized and balanced market.

If you are a buyer who jumped out of the market due to the ridiculous heat of the competition and accelerating prices, this may be the right time to jump back in.  As stated by Boise Regional Realtors, “Cooling demand has given inventory a chance to catch up a bit… There were 2,135 homes available for sale at the end of June, a 192.9% increase from June 2021, and the highest inventory we’ve seen since September 2016.”  This change has afforded buyers more options, less competition, the ability to slowdown and process how best to move forward, and greater opportunities to negotiate on price and terms when they find the right house.  

If you are a seller who feels you’ve missed the best window for listing your home and are disheartened, I hope you will be encouraged to know the market is still strong.  Though prices have dipped a bit from the craziness of a few months ago, the median sales price last month was $592,090—a 12.8% increase from June of last year. When compared with other investments, this is an incredible return on your money and something to be excited about!  Additionally, although the average number of days on market (currently 14 days) is steadily increasing, it is still well below the average days on market for single-family homes over the past 10 years, which is 67 days.  And, our months supply of inventory in June was 2.4 months.  Since a “balanced” market is considered to be one with 4-6 months supply, we are still in a market tipped toward favoring sellers.  

Whether you are considering buying or selling or are just curious to know more about our current market and how it might affect you, I would love the opportunity to meet and share more.  The information I can provide may help you determine how best to move forward as well as how to set appropriate expectations for the road ahead. 

For more information and specifics on the current market, please check out the full Boise Regional REALTORS® Market Report HERE.  

 Enhance the joy of your summer by attending some fun, local events!  Check out our event calendar HERE for the latest local happenings.  Some events may change, so please make sure to check the website links for the most up-to-date information.
Real Estate Consistently Voted Best Investment
by Keeping Current Matters
  • Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row.
  • Owning real estate is more than just a place to call home. It’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time.
  • If you’re ready to buy a home and invest in your future, reach out to a local real estate advisor.
Ken showed extreme skill and patience in working with us. His ability to understand our needs and show us homes that fit our wishes was outstanding. We had to find a home in a short buying window, and he was able to direct, negotiate, and finalize all the necessary details in a tight timeframe. ~Daniel Waldeck 
Read more of my client testimonials HERE.  
Aaron Paul's Historic Boise Home For Sale

Watch the video below to tour Idaho native and movie star Aaron Paul's recently listed East Boise home and learn more about its history.  You can also read more about the house and about Aaron's decision to sell on BoiseDev's article, HERE!  
A Choice, A Life, A Story of Hope

Amidst the sea of tension around the topic of abortion in our nation right now, I wanted to share this personal story that the broker of TripleCord Real Estate, Katie Miller, wrote about her adopted son, Brooks, and his birth mother.  I believe it expresses, at least in small part, the compassion, love, encouragement, and hope the Lord of life can bring in difficult circumstances:

A couple of months ago, we had the joy and delight of having Brooks’ birth mother, affectionately known as Mama Amber, come stay with us a for a few days. One evening, we stayed up late, as she shared more about her life and the difficult circumstances surrounding her pregnancy and decision to place Brooks for adoption. The violation against her that led to her pregnancy made it difficult from the start.  Additionally, the pain, abuse, loss, depression, and addiction that lined her past caused great despair as Brooks grew within her and she considered the future.  Although she never would have thought she could contemplate abortion, she found herself in a place of desperation and hopelessness where it seemed the only option.  My heart broke at the gravity of her situation, and I began to understand how one might become convinced abortion is the only or best way forward.  

Fortunately though, by God’s grace, this was not the end of Brooks’ story, nor was it the end of Amber’s.  The Lord strengthened her to choose life for this child.  He gave her people to love, support, encourage, and pray for her and connected her to an adoption agency that did the same. Then, by His grace, He crossed our paths and knitted our lives together through the life of this incredible boy.  I wish I could say the process was easy, but adoption is never easy.  There is always pain and loss amidst the joy of every adoption story, and that pain and loss are often felt most acutely by the birth mother.  Amber is no stranger to this truth.  But, as we sat talking in our living room that night while Brooks peacefully slept upstairs, we found ourselves in awe of the beauty of the relationship God gave us, the wonder of the work He has done in us, and the joy of the gift He gave us in Brooks.  We can’t imagine the world without him and are so thankful to the Lord for making his life possible!  

If you once found yourself in that difficult place where abortion seemed your only or best option, I pray you would experience the Lord’s compassion for your circumstances, His deep love and care for your soul,  and His complete healing of the heartbreak such a decision can cause.  For those who may find themselves in this situation in the future, I pray the Lord would encourage you by this story to choose life for your unborn child and that He’d help you trust Him to provide for both you and your baby’s needs.  And, may the Lord help us all to value the lives of unborn children as well as the lives of the women who carry them and the men who were part of their creation.  May we be the hands and feet of Jesus--loving and caring for all of them as He would, helping provide for their physical, emotional, and spiritual needs, and encouraging them in the beautiful story the Lord has written for their lives and the lives of every person their stories touch in the future!

Recommended Service Providers
Need help with a home project, service, or repair? Check out our Homeowners Resources page HERE, where we've listed several different service providers we've used personally or who have been recommended to us.  We are always updating this list, so if you have contractors to recommend, please email my Broker!  
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TripleCord Real Estate · 3635 S Weathered Ave · Boise, ID 83706-5466 · USA

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