Real Estate Information

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

            The typical homeowner’s policy includes coverage for perils and losses due to fire, lightning, tornadoes, windstorms, hail, explosions, smoke, vandalism, and theft. Just as you would scrutinize the terms of your medical insurance, the nuances and details of your homeowner’s policy should be examined seriously. Too often, homeowners sign up for a policy and go on autopilot regarding its terms and coverage without taking new acquisitions, risks, and increasing value of their homes into consideration. Most insurance agents recommend a regular “check-up” for consumers, so that homeowners are not left “high and dry” when disasters and losses strike.-Lezamiz Real Estate Co.

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

When purchasing real estate in Twin Falls the Magic Valley, the buyer wants concrete evidence that their new home is free of title defects. Generally, the contract of sale requires the seller to provide the buyer a guarantee that the property is unencumbered by any legal attachments that might limit or jeopardize ownership. 

If you are relocating, or moving to a new home in Twin Falls, it is imperative as one would not know the history of the home you are purchasing. At Lezamiz Real Estate Company, we know how important this is for the buyer.  One wants to be certain that they are fully protected against errors in public records, hidden defects not disclosed by public records, or mistakes in examination of the title, fraud or forgery.- Scott/Alliance Title Company

Technology is defined as tools, both material and immaterial, created by society to implement into our daily lives for better control in society’s environment. Used in our field of Real Estate, we are quickly able to search and locate the perfect place for our clients to call home in Twin Falls or the Magic Valley.

Cell phones such as Blackberry Curves and Palm Pilots keep us at Lezamiz Real Estate Company maintaining our list of contacts and enable us to access the internet at any time. A person may connect the cell phone, via Bluetooth or USB cable to a   laptop for instant internet connection. Emailing through cell phones and computers is an inexpensive yet effective way to reach out to clients showing homes in the Twin Falls or Magic Valley area.

This is a portion of tools used to succeed in our Real Estate world. These systems are being updated daily as we remain cutting edge on the leading edge of technology. When we say we live by technology, breath technology, and even dream of technology… we really do.-Suda Thirakul