First Time Home Buyer Or Investment

First Time Home Buyer Or Investment!!Adorable 3 bedroom 2 bath 1144 sqft. split floor plan with quiet location near NNU. Landscaping gives very nice curb appeal to this corner lot home. Dual gates for R.V. parking on the west side of back yard. Back yard has concrete patio with mature tree providing excellent shade for those evening BBQ’s.  $69,900 you can bet that this won’t be available for long!

For more information about this home and others call Joshua Groesbeck direct at 208-353-7131 or josh@homeswithjosh.com

Home Market Recovery 5+ Years

As home prices have slid new buyers are finding great opportunities and they can expect more to come.  As home interest rates are historically low it would be hard to argue with the mind set of the able and willing buyer. These opportunities are providing people with the ability to purchase homes in areas in the past that would not be possible. Home, Location and Price all are all starting to end up on the same street so be advised- This is a great year to Buy Your Home.

Josh Groesbeck 208-353-7131 or josh@homeswithjosh.com

It’s taken three years to process $1 trillion in foreclosed homes. At that rate, it will take more than five years for the amount of each individual’s mortgage debt, relative to their income, to get back to levels that were the norm in this country before the housing bubble, according to a report from TrimTabs Investment Research.

“For the debt-to-income ratio to return to 65 percent, mortgage debt needs to fall from its current level of $8.9 trillion to $6.4 trillion to $7.4 trillion,” Madeline Schnapp, TrimTabs director of economic research lays out very clearly in a report to clients today. “At the current pace, it could take four to six more years to work through the current and expected backlog of delinquencies.”

Home with foreclosure sign

One problem with this math could be that Schnapp assumes there will be very little income growth because of high unemployment so the only way to get back to normal is to lower the debt side of the equation through foreclosures. However, she’s also assuming 60 to 65 percent is the “sustainable” amount of debt to income an average homeowner can handle and many believe that will still have to come down even further. Either way, you’re left with at least a five-year slog, according to many economists and investors.

“It may take longer than 4-6 years in my opinion to work through the delinquencies,” said Simon Baker, CEO of Baker Avenue Asset Management. He cited the stall in the foreclosure process taking place in the court system as banks are forced to prove they actually own mortgages that changed so many hands during Wall Street’s securitization process.

“Sloppy paperwork and government policies that slow foreclosures and allow banks to postpone losses are only delaying the necessary adjustment in the housing market,” wrote Schnapp in her report. “The faster home prices reach a market clearing level, the faster the housing market will boost the economy.”

The latest Standard & Poor’s/Case-Shiller data showed that housing prices fell again across most of the major cities, with eight markets such as Las Vegas and Miami setting new lows since the housing crisis. Data released today showed a much higher than expected jump in weekly jobless claims, dampening hopes of an increase in wages anytime soon.

“We do not expect a true turn in home sales to occur until it becomes clear that the unemployment rate has peaked and is on a steady downtrend,” said Michelle Meyer, an economist for Bank of America Merrill Lynch, in a report to clients. “In addition, the turn in new home sales should be slower than that of existing homes given the lure of deeply discounted foreclosures.”

Source: John Melloy CNBC

Royal Meadows Short Sale Nampa Idaho

This is a very clean short sale located in Royal Meadows Subdivision in South Nampa. 4 berooms 2.5 baths 3 car garage and no neighbors directly behind. 2106 sqft. is maximized with this smart floorplan. Asking price is $114,368 call Josh Groesbeck 208-353-7131 to set up your private showing.

www.homeswithjosh.com or josh@homeswithjosh.com

You or someone you know may need my help….

Another Great Reason To Live In Idaho

Another great reason to live in Idaho. Boise State Broncos 2010 BSC Champions.. Today our beloved Broncos start their march towards the top-BSU 20 VT 17.  As a native Idahoan I have had the opportunity to grow up with what used to be a state college with  blue turf and tail gaiters. Over the years that team has become bigger than that  blue  turf and the tail gaiters have become BRONCO NATION!  Enjoy the video highlights.

Another Home Buyer Tax Credit

That’s right rumor on the street is there may be another tax credit for Home Buyer’s- Could consist of money for First Time Home Buyer’s, Move Up Home Buyer’s and the new twist could be incentive to purchase REO (Bank Owned) and Short Sale properties. If this happens we will be combining low, low, low I mean lowest interest rates on record with homes being sold crazy low prices. Idaho has long been ranked high for best places to live and work and I expect that the Boise Valley will rank high again when this economy turns around. Let’s see what happens but maybe the 3rd time is the charm! Josh Groesbeck 208-353-7131 or josh@homeswithjosh.com and www.homeswithjosh.com

Owning Your Idaho Home

Everyday we here more bad news about the housing fallout and while that cannot be ignored there are some major benefits of home ownership. A lot of the times home ownership are more than the financial dividends.  The best things about owning a home have a lot more to do with personal comfort and satisfaction. I was golfing with a retired professor from Notre Dame. He followed his wife and kids over to Idaho and told me if it weren’t for his job at the University of Notre Dame he would have been here years ago.  He had been coming to Boise, Idaho since the late 1960′s telling me that he always knew that he would end up owning a home here. In closing “I love Idaho” and good game :)

Here are five of them:

· Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable – deciding to sell the property or choosing to live there themselves.
· Paying the principal is forced savings. Yes, it’s possible that home prices will fall further. It is also possible that your 401k will go down, but in the end both should provide you with an upside.
· Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
· Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
· Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.

Source New York Times: Ron Lieber

Money Saving Tips In Your Idaho Home

Whether it is your primary residence or your second home in Idaho you can always save a few bucks. These tips are just a few ways to save some money in all four seasons for your home here in Idaho. Living and working here in the Treasure Valley we all know in this crazy economy that your bank account can change much like the weather. When a storm is a brewing you wouldn’t leave your home without a jacket so compare that to the economic future (chance of rain) why wouldn’t you start saving some money. Joshua Groesbeck 208-353-7131 or josh@homeswithjosh.com and www.homeswithjosh.com

1. Install a programmable thermostat: Installing one of these little guys can
really help your utility bills and the earlier you get it installed, the more it saves!
Estimates are that for every degree you lower the thermostat, that’s 5% off your bill
(in the winter). I like to think of it this way – why spend money to heat or cool
something that I’m not even going to be there (or awake) and enjoy? The power
company has enough of my money!
2. Lower the temperature on the thermostat: HVAC systems have two settings
- off and on. By lowering the temperature of the thermostat, you leave it in the off
state for longer periods and thus use less energy. Less energy, lower bill!
3. Wash your clothes in cold water: Detergent technology has gotten so good
that washing in hot water is no longer necessary, you can save lots of energy by
washing with cold water rather than hot water.
4. Line dry your clothes: Get a rack or clothesline and dry your clothes on that,
instead of in your dryer. If that idea isn’t entirely appealing, consider drying larger
items (towels, sheets) on the line and your regular clothes in the dryer to cut down
on the time.
5. Lower the temperature of your water heater: You can turn the temperature
of your water heater down to conserve some extra energy, there’s no sense in
making it really hot only to add cold water to it during showers. (the only caveat is
that you should check your dishwasher for a booster, it’ll need the temps that high
for cleaning purposes)
6. Wrap your water heater with a water heater blanket: One of your biggest
energy sucks in the house is your water heater, that tank that keeps your water nice
and hot for your showers. Wrapping a blanket reduces the amount of heat it loses
into the area around it.
7. Clean out your refrigerator coils: Dust off the coils on the refrigerator and
you can improve its efficiency, thus lowering the electricity bill of the one thing in
your house that’s always on.
8. Find and plug drafts: You don’t need the cold air from the outside to infiltrate
your home (or your warm air blowing out), so try to find all the drafty windows and
doors in your home and seal them up. Your energy bill will thank you.
9. Change your air filter: The more you run your HVAC system, the more that air
filter will catch. The more it catches, the more it clogs. Yep, you guessed it, the
dirtier it gets, the harder your HVAC needs to work to push air. Swap that baby out
and improve your system’s operating efficiency.
10. Get your furnace tuned: I had no idea but you’re supposed to get your furnaced
“tuned” every few years, it could increase your efficiency considerably.
11. Swap out regular light bulbs with CFLs: The technology in CFLs now is so
good that most people can’t even tell the difference (other than by looking at them).
Swapping them out reduces your energy use and are best used in areas where the
lights are on most often. They’re more expensive but they last longer and use less
power.
12. Institute a one light, one person rule: Leaving the lights on in your house is a
great way to spend money, so try reducing your electricity usage by instituting a
one light, one person rule. Each person in the house can only have one light on at a
time.
13. Reduce phantom electricity use: Phantom electricity is the electricity your
appliances use when they’re “off.” This happens because we love our instant on
appliances! To help reduce this, you can plug them all into a surge protector and
turn that off to ensure you aren’t losing power to something you’re not even using.
14. When buying appliances, reliability trumps price: When you’re buying new
appliances, be sure to read reliability reports because you don’t want to spend less
only to find out you bought an inferior product that won’t last.
15. Shop around for homeowner’s or renter’s insurance: Renter’s insurance is
already pretty cheap so you might not get much savings there but homeowner’s can
vary greatly.
16. Consider a home energy audit: These aren’t cheap but they can identify things
you can do to make your home more efficient and thus save you more money.
17. Remember to return those cans and bottles for deposits: If you live in a
state that collects a deposit on cans and bottles, remember to redeem them!
Unfortunately in Maryland we don’t do that (but that also means we don’t pay it),
but I’d love to see it instituted here so that we could entice more recycling.

By following some of these steps you just never know you could be on your way to an early retirement……..

Joshua Groesbeck or josh@homeswithjosh.com and  www.homeswithjosh.com

Idaho Short Sale Process

Goal:  Avoiding Foreclosure

The following are the steps that you as a homeowner can anticipate in the short sale process.  This is a general outline of how the process occurs, however please note that lien holders can change the order of some of the steps.  Detailed below is the process our team uses to process a short sale.  For a brief overview please see. www.homeswithjosh.com and look under Short Sales

Pre-Listing

1.
Please contact Josh’s office for a brief consultation about short sales.  Josh or one of his team members will collect some basic information about your situation.
2.
A tentative appointment will be scheduled to answer questions and/or list the home for sale in the short sale process.
3.
Josh and his team will prepare a short sale packet which will be sent to you either via FEDEX, regular mail or email.  We provide a thorough packet of information in advance of the appointment so you have the opportunity to evaluate our process and have your questions answered in advance.  If what we send you and what we discuss prior to the appointment makes sense and you feel comfortable and confident to go forward with the short sale process, our appointment will be confirmed. The packet will include:
*
Information about the short sale process.
*
Market data on the value of your home in today’s market.
*
Recommended short sale pricing.
*
Listing contract and related forms.
*
Property detail report from the county assessor’s office.
4.
The appointment.  Josh will either come to your house to receive the documents or they can be returned via fax or email. We can do listing appointments via telephone or email if necessary.
5.
Once we receive a signed listing agreement we will begin the short sale process.
6.
An authorization form will be submitted to your lien holder(s) enabling us to speak to them on your behalf.  Unless previously provided, the lien holder(s) will provide their short sale requirements when the authorization is received.

Marketing

1.
Your home will be listed immediately on the Multiple Listing Service.
2.
We will market your home through various affiliated web sites and all other applicable marketing strategies.
3.
During the marketing period we will receive offers and present them to you as they are received.
*
Offers will be presented to you on an offers spread sheet.
*
You will be able to see the net offers as they come in.  We highlight, in yellow, the current highest net offer.
*
You will sign the purchase offer of your choosing.  We will advise you as to what appears to be the strongest offer.  We will encourage you to consider two important factors; price and the willingness of the buyer to wait for the short sale process to complete rather than back out in the middle of the process.
4.
You will select and sign the offer that is most likely to meet the lien holder(s) criteria for a short pay off of your loan.

Short Sale Processing

1.
After you select an offer it will be signed by you and presented to your lien holder(s).  This is the official beginning of the short sale processing phase.
2.
You can track your short sale offer, as it is processed, online at Short Sale Status.
3.
The offer and all documentation required by the lien holder(s) is submitted by our office to the lien holder(s).
4.
Documents go through a processing period and are assigned to a negotiator.  The lien holder(s) assign a negotiator to your file.  The negotiator will ultimately make the final decision about your case.  The negotiator will review your offer and present the offer to any investors into your loan.
5.
A BPO (Broker’s Price Opinion) or appraisal will be ordered by the negotiator.  This BPO is used to determine the value of your home and whether or not the net proceeds of the offer are sufficient to satisfy the investors and thus provide a short pay off of the loan(s).
6.
The negotiator will evaluate your financial situation to determine whether or not you qualify for a short sale.  The offer will be presented to the investors who are invested into your loan.  They will decide if your short sale is approved or not.
7.
The negotiator will report the response of the investors.  There will be one of three options:  Short Sale Approval, Short Sale Approval with Conditions or Denial.  If any other answer then Short Sale Approval is provided we will negotiate further on your behalf.
8.
After all negotiations are complete you will either accept or reject the terms of the short sale.
9.
Written short sale notification is delivered to the buyer’s agent and Escrow begins.

Escrow

1.
Escrows in short sales generally follow the same process as a regular escrow.  One difference is that the short sale approval has a “good through” date by which time the short sale must be finalized and escrow must be closed.
2. When escrow begins you will need to make plans to be moved out of the house by the close of escrow.

Josh Groesbeck

208-353-7131 or josh@homeswithjosh.com

IHFA Announces New Homebuer Tax Credit Program

IdaMortgage.com, brought to you by Idaho Housing and Finance Association, announces new Homebuyer Tax Credit Program.  This program could save your clients more than $10,000 over a ten-year period!

New Homebuyer Tax Credit Program:

- Income tax credit of up to 20% of the mortgage interest paid each year for the first ten years; maximum of $2,000 per year
- Can be used with IdaMortgage loan products
- First-time homebuyer requirements apply
- $500 fee from borrower
- Available for a limited time only
- Can be used to help borrowers qualify

To learn more about this exciting new program, please visit www.IdaMortgage.com or contact us at 1-800-219-2285. Tell them Joshua Groesbeck sent you-

Joshua Groesbeck
208-353-7131 or josh@homeswithjosh.com
source: ACAR weekly bulletin



Real Estate Radio Program

So I wanted to add this great real estate radio program to my real estate website. This is a very informative radio program that will update you on the latest real estate trends across the country.  Just press play and listen while you use my website www.homeswithjosh.com to research the market, read the latest blogs by Josh Groesbeck or look at all  available homes on the market in Boise, Eagle, Meridian, Star, Nampa, Caldwell, Middleton, Kuna  and all surrounding cities in Idaho. Of course to talk with Josh call 208-353-7131 or set up your appointment to view properties josh@homeswithjosh.com

Take a minute and let me know how I am doing providing all my customers and clients with information and products to help their real estate needs.

Thanks again!