Real Estate Information Archive

For those of you that are not Real Estate Agents I can tell you that to be a Real Estate Agent you must have excellent people skills. Every buyer has their own unique personality. If you master the art of conforming to ones personality you will be very successful. Imagine waking up every day and wondering if your next pay day will be next month or next year. The life of a Real Estate agent can be very rewarding or stressful. I have seen many agents worry about how they are going to make it through another year. All you need to do is have the desire to work hard and treat this career the same as any other career out there. Working every day to achieve your goals is a must. Agents have to rely on other people when it comes to money, building a strong relation ship with clients will keep income in your wallet. Most agents see the opportunity to have a very easy schedule and no boss like atmosphere and run with it. Independent contractors as they are called. This is now a self managed job, and most new agents fail because of the lack of supervision. Excellent Real Estate agents work 6 days a week and 12 hour days, this is necessary to achieve Real Estate goals.

 Of course money is a driving factor in becoming a Real Estate agent. Helping clients share the dream of home ownership can be very rewarding in many ways. Agents spend countless hours and several weeks working to help you find the home of your dreams. Real Estate agents are required to pay dues to their local MLS and quarterly dues to their state office just to be able to show you homes located in your area. In many ways to be a Real Estate agent you must be a self motivating individual, working less will not be an option like you may have thought. Ask most agents and they would tell you the market is down or very slow. It is only slow because they make it slow. To be a Real Estate agent in this market you must know times have changed and agents must work harder not less.

Perrine Bridge

 This spectacular bridge spans the majestic Snake River Canyon on the northern edge of Twin Falls. It is 1,500 feet long and 486 feet above the Snake River. The four-lane bridge has pedestrian walkways with views of the river, sheer cliffs, the Blue Lakes, waterfalls, a park and two golf courses. A road descends to these areas. The Buzz Langdon Visitor Center is next to the bridge. BASE jumpers enjoy the Perrine Bridge as their launching pad for parachuting from the bridge to the canyon floor below. BASE jumping is a sport involving the use of a parachute to jump from fixed objects. "BASE" is an acronym that stands for the four categories of fixed objects from which one can jump: Building, Antenna, Span, Earth. A parking area adjacent to a Visitor Center allows for close inspection of Idaho's most striking bridge. It also provides easy access to the developed canyon rim trail system.

Perrine Memorial Bridge: The first Perrine Memorial Bridge was open in 1927. It towered 475 feet above the Snake River Canyon, and was the highest bridge in existence at the time. The old bridge was replaced in 1974 with this new two lane bridge.

Tax Credit

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

1. The price of the home.
2. The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

 Time will run out on this great offer, please do not wait!-Lezamiz Real Estate Co.

Are you looking to buy or sell a home in Twin Falls or Jerome County?  It’s always good to know the market conditions for the price range of your home you want to sell, or one you are interested in purchasing. 

            Last week at Lezamiz Real Estate Co., we defined absorption rate in depth.  Today we will explore absorption rate further, and what exactly that rate means to you when you are ready to buy or sell real estate in Twin Falls or Jerome.

            As we talked about last week, the absorption rate equals the number of months it will take for all the listed homes, listed in a certain price range, to sell, provided that no more homes enter the market.  Depending on the absorption rates, this would categorize a group of homes price into either a seller’s, buyer’s or a neutral market.

            Below we elaborate on homes in Twin Falls and Jerome Counties, and what price ranges are falling into what market. 

Seller’s Market: 0-6 months

            A seller’s market favors the seller.  This is when there is more demand for a limited amount of inventory.  Another way to think about it is there are more buyers wanting to buy than there is seller’s wanting to sell.  In terms of absorption rates when there is less than six months worth of inventory, then we are in a seller’s market.

            There are seller’s markets in Twin Falls County in the $69,999 and under price range, as well as $70-89,000 and $100-119,999.

            In Jerome County, seller’s markets exist in the $69,999 and under price range, from $90-99,999 and $120-159,999.- Lezamiz Real Estate Company

If we stop and think through the process we tend to buy homes when everyone else is.  That also happens to be when sellers can ask more for their homes because of demand.  On the opposite side when we hear in the media that houses are not selling we tend to not purchase because “no one else is”.  For many buyers, now is the perfect time to buy.  Home prices are lower, mortgage interest rates are low and there are more residential homes to choose from.  Buyers need to be ahead of the crowd and access their own situation to see if they are just frozen in place out of fear.  I encourage buyers to get educated about their current situation.  Talk to your banker to find out what your credit score is.  Find out what incentives are available for homebuyers and take advantage of them.  Talk to a Real Estate agent to find out what is happening in the Twin Falls market rather than the national market.  Get to know what new “green” products are available to make your home more energy efficient.

We cannot predict when the housing market will change.  However, when it does it will have seemed to have happened overnight and we will all be wondering how we missed the opportunity. Kym Lott

I recently joined Lezamiz Real Estate Company not quite understanding how Real Estate works. By the end of my first week I realized what a huge importance a Real Estate office is. I worked for a nation wide Pizza Chain in Twin Falls for 10 yeas, in those 10 years I learned that customers are the most important thing when it comes to being successful, with out customers and return customers staying open every day is kind of tough. Understanding that customers expect us to give them a result for what they have paid for and that seeing things from their end is even more important. I also spent 3 years in the wireless industry in sales, I learned so much about making the sale and informing the customer of every detail about their service. What I have learned here so far is how much goes into selling or buying a home from listing to closing every person here is key for all of the tough questions. I realize how many people it takes to sell your home and what a challenge it is to try to buy one. All of the people here at Lezamiz Real Estate Company have shown their commitment and skills in making Real Estate a wonderful experience and I would not want to venture into buying or selling a home with out them. You need an agent to make sure your future home is purchased right and the laws of land ownership are told to you so in the future there are no mistakes in the home buying/ selling process. Josh/Sales Manager/Lezamiz Real Estate Company

One of the advantages of using Lezamiz Real Estate Company is our knowledge and expertise in assisting the closing process.  We have years of experience and professional training to market, prequalify buyers, price homes and assist in reading and understanding the Title Commitment. 

In selecting a Title Company, you will also be assigned a closing officer for your transaction.  The roll of the Escrow closing officer is an independent third party that acts solely on signed instructions from both the buyer and seller.  In addition, those instructions must be compatible with the instructions from the lender in the event of a new loan.  Only when the instructions of all parties in the transaction have been met does the escrow officer exchange monies and instruct the title department to record the transfer of title to the new owner. Whether buying or listing in Twin Falls or the Magic Valley, it is a good idea to use a Real Estate professional.  Your agent has contacts and the wherewithal to effectively market and move the transaction forward to a timely conclusion.- Lezamiz Real Estate Company

I don’t think there is anyone that hasn’t felt like they were tapping into their children’s college fund just to fill up their gas tank over the last 6 months.  It seems that we are seeing price increases on all of our necessities from gas to groceries all over the Twin Falls and the Magic Valley. We have had to make adjustments to family budgets and start thinking about conservation on a new level.  Is this a good time to buy a new home or put your current home on the market? This might be your next financial decision.

Now that we are seeing fuel prices start to decrease will we continue to conserve in anticipation of what will rise next?  What can we do to prepare for rising costs in the future?   And how do we know what to think of this Real Estate Market?  How do you know when to buy or not a buy a home?  Lezamiz Real Estate Company will help you with theses tough questions. We need to stay focused on the future rather than the past. -Kym Lott