Home sales, prices rise - Coeur d'Alene Press: Local News

Home sales, prices rise

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Posted: Friday, November 30, 2012 1:16 am

If recent real estate activity is any indication, the industry has reason to be optimistic for 2013.

Year-to-date single-family sales for all of Kootenai County were up 6 percent through the end of October compared to last year, according to the most recent report by the Coeur d'Alene Multiple Listing Service.

"We're extremely excited about the direction the market is headed," said Joel Elgee of Coldwell Banker Schneidmiller Realty.

The average price countywide was also up 4 percent ($175,291 to $182,889) and the median price up 5 percent ($148,000 to $155,000).

"If you look back at the history of our median sales prices in Kootenai County, you notice a very encouraging trend in our marketplace," said Jennifer Smock, managing broker of Windermere Coeur d'Alene Realty. "Our local compound annual growth rate for residential homes in Kootenai County is outperforming the nation's rate by nearly 1 percent."

Since 1995, when the MLS started tracking data, the growth rate has been 3.3 percent, while the nation's is at 2.6 percent.

Smock said another positive trend is the shift toward a balanced market in the price ranges under $300,000.

"This is good news for both buyers and sellers," she said.

"We would expect to see both of these trends continuing on through 2013 as long as interest rates remain low."

Debbie Myles of Windermere said the market is particularly strong in the under $200,000 price range with low rates and inventory.

"Investors, plus first-time home buyers, are facing multiple offer situations," she said.

In that category, there are 1,315 listings, 405 pending sales and 2,044 homes sold in the MLS since Jan. 1.

With single-family sales being up for the third year in a row - and prices being up as well for both new construction and existing single-family homes, Pete Faust of Century 21 Beutler and Associates said a "solidification" of the market is happening.

Non-distressed home prices are up even as foreclosure and short sale property sales prices are down, another sign of an improving market, Faust said.

"All in all, things are looking up," Faust said.

Elgee believes there will be additional gains in home values in 2013.

"By conservative estimates, these gains may be 2 to 3 percent; more optimistic estimates would 5 to 6 percent," he said. "Either way, this is extremely positive news for our local real estate market and by all accounts means that we have already seen the bottom of the market and that things have been and are headed back up."

Tim Herzog of Treaty Rock Realty said short sales and foreclosures are still playing a role in the market. He said there were 221 short sale listings and 289 foreclosures in the Panhandle on Thursday, but some of them have sales pending.

"A lot of buyers just can't qualify because of credit problems and are looking for seller financing," he said. "I have buyers that still want to relocate except selling their property remains a problem as well as jobs here locally."

Sales countywide on residential listings - from mobile homes on render lots to waterfront properties - increased 10.3 percent through the end of October compared to last year.

With individual cities or areas of the county, sales in Coeur d'Alene/Dalton Gardens increased 10 percent, Post Falls 4 percent, Hayden 13 percent and Rathdrum/Twin Lakes/Hauser 1 percent.

The average price in Coeur d'Alene/Dalton rose 9 percent ($171,881 to $186,680) compared to a year ago, Post Falls 6 percent ($151,641 to $160,906) and Hayden 6 percent ($199,336 to $210,812). The price dropped 10 percent ($151,797 to $137,291) in Rathdrum/Twin Lakes/Hauser.

New construction has accounted for 12 percent of the single-family sales countywide this year compared to 10 percent a year ago.

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28 comments:

  • JoeIdaho posted at 4:55 pm on Wed, Dec 5, 2012.

    JoeIdaho Posts: 2841

    Hey NIC-
    INteresting....
    Me; I don't believe in the New World Order, I think sme may try, but the logistics are insurmountable, IMO. I know what it takes to feed & shelter a few thousand people, and as powerful as our government is, I don't think, even for a second, that they could manage LA or Baltimore effectively. I'm not an Elect Jew...don't know where you got that from Brother...I believe thatthe chaos that will occur from the implosion of the dollar will in effect leave pretty close to complete anarchy throughout most of the world.

     
  • JoeIdaho posted at 9:37 pm on Sun, Dec 2, 2012.

    JoeIdaho Posts: 2841

    Sorry, Idahoguy, we just don't agree, but I respect your opinion.

    I have MANY Preppers that are close by, and also know literally hundreds more in this area. For those that don't Prep & have bad intent, let's just say that I think forays would be unwise.

    On "freezing to death in winter", I also disagree. People in rural areas will burn wood, and stay warm. They'll also defend themselves, and smoke will be more common than you think.

    Your idea that if there's smoke than it draws others to you is correct, but I'm one of the ones that believes that the anarchy here will be relatively short lived, as most here have guns and will defend themselves, moreover, they have the ability to get water, without a lot of fanfare. I also believe that the locals that have prepared will also support their local police & fire, even though things will be either out of control or semi out; for a while, I think in North Idaho, some civivlity will remain, and it will return faster than you think, HERE, but not through the rest fo the country.

    As to those "fleeing south", I doubt it. I don't think people are going to be travelling very far, period. It will be dangerous, fuel will be scarce, and you'll have to cross deserts to get to places that are warm enough to make a difference.

    Fact:
    Prepper Groups online are simply watched by government agencies, every day. The idea that you think you have "OPSEC" because you use a straw is just folly; but you go ahead & do what you think is right. I'd MUCH rather trust some of my direct neighbors than expose myself to the world wide web, at the same time I'm actively involved in a group that is certainly being watched.
    Again, your OPSEC is literally no match for those that want to see; and I do know how this works.
    Careful Bro, is all I'm saying.

     
  • idahoguy posted at 4:30 pm on Sun, Dec 2, 2012.

    idahoguy Posts: 932

    Opinion;
    Idahoguy, I think that trying to link up wioth others on the web is foolish; you already know who your neighbors are; there's deniers and ther are the ones that have a clue.

    Opinion;
    Old world wise men who never tried it or did it.....also said
    I/we think that sailing west off the flat world from Europe will result in you will falling off and dying.

    Fact; To both the above opinions....
    Some tried it and did it and were successful thus we are where we are today.

    Fact;
    To each local person or neighbor you converse with about prepping you have now revealed yourself. You will come to their mind when times go south. They will remember you....You will very well be seeing them again and not on good terms either. Our faces are known around town if we have been here for as long as some of us. Just not a wise move IMHO....

    I know none to maybe just one of my remote neighbor are preppers by how they live and conduct themselves. Especially when the grid goes down at times. But again even the maybe ones are lone wolves out here.... Preppers must network safely without drawing undo attention which will come home to roost in the day.

    Idaho is also a bad place as without the grid most will freeze to death in winter. Smoke in your fire place will send smoke signals far and wide that you are alive and doing well... well that is until you discover that hole in your forehead ;-( One must be very wise to survive and the best part of north Idaho is most will flee south, then most that do stay will perish. Empty homes will be everywhere!!! For free as well ;-) See article title...

    The internet allows one to converse with others in the area, sight unseen. Even an eventual off site meeting reveals little about either side if they are cautious. Using a strawman to go to the meeting also deflects leads away from the leadership. Preppergroups.com allows folks meet up then move on to converse and question each other without compromising their OPSEC.

    One uses a handle name, can set up a special email address dedicated to just this line of work.

    But if one has never learned about such a means and then practiced it to reach out then they would naturally see it as unwise. They will remain dockside....The world would still be flat for them too. However some of us have been sailing those so called dangerous waters for some time reaping the benefits therein.

     
  • JoeIdaho posted at 3:01 pm on Sun, Dec 2, 2012.

    JoeIdaho Posts: 2841

    Idahoguy, I think that trying to link up wioth others on the web is foolish; you already know who your neighbors are; there's deniers and ther are the ones that have a clue. I agree with you that the lone wolf type won't make it, it does take a village. You NEED somoene who can sew up a wound, and you NEED someone who can weld, you need people that know about how to garden & others that know how to skin an animal.
    And the kool aid drinkers, well; if ya really think that LA will be OK without water, or that Chicago's citizenry will remainunder control when there's no gasoline, than hey; BE my guest; stay there, and see for yourself,
    IMO Sandy was a good teacher, she showed us how people will fight each other over gas, even when they know it's coming tomorrow, and how power is....kinda...important.
    People are civil ONLY when they need to be; if they have a real need for water, food, fuel, or heat, they'll fight you & do bad things for it, quickly. Me, I think you either prepare or comprehend that you'll be begging, and most certainly come to a bad ending.
    North Idaho is a place of wonder, clean fresh water in abundance, excellent people, good weather, plenty of fish and game. We're lucky to be here; I speak to people every day that wish they had what we have, and they're trying to become part of it.

    On the Doomsday Preppers, I think it's sad for most of them, to be honest. Trying to "live" on the outskirtsof Houston, or Virgina, while you KNOW there's literally millions of hungrys coming your way is just crazy, and deadly. I do respect their effort, though, and hope the best for any and all of them.

     
  • idahoguy posted at 1:19 pm on Sun, Dec 2, 2012.

    idahoguy Posts: 932

    Likewise.
    Just as long as they are not Doomsday TV show type preppers (grin)

    There are many web sites trying to unit preppers out there. Also most sites are pretty lame and limp wristed. Most folks play their cards close to their chest and wisely so. Preppergroups.com is a site set up for preppers world wide to post their Ads and try to find others near them. It is broken down into States. Posters usually have the goal to team up and go after safety in numbers. But again only wisely if those numbers are also equally well prepared.

    IMHO the lone wolf prepper will end up like the wolf in the picture. The cool aid drinkers will be busy feeding on each other.

     
  • JoeIdaho posted at 12:40 pm on Sun, Dec 2, 2012.

    JoeIdaho Posts: 2841

    I am WITH you, Idahoguy. 10,000%.
    And I can point you at Preppers by the dozen here; all of them good people, too. They have thier eyes OPEN, unlike many in society who refuse to see the obvious.

     
  • idahoguy posted at 10:36 am on Sun, Dec 2, 2012.

    idahoguy Posts: 932

    Joe has the picture of the dead wolf. Notice the little guys size? But heck the wolf lovers will tell you they are zero threat. They drink the same cool aid the normalcy bias people do. Then get free refills.

    Well at least there are some fellow prepper minded folks around here.

    SGT.com is not a religious site if that is what you means, student. Best not to be either as religion is fractured and divide within itself. A personal relationship with God is a;ll he requires via Jesus. It is just a factual site leaving the reader to eat the hay and spit out the sticks.

    One might take a look in the nickelsworth under firearms. Seems their is an outreach AD in there for some folks who have woken up and have been willing to take steps to secure their future.

     
  • JoeIdaho posted at 9:08 am on Sun, Dec 2, 2012.

    JoeIdaho Posts: 2841

    Hey wheels-
    You said:
    "Way to much conspiracy theory and anti govt vibe on this blog"
    What do you call it when Clients of mine call me & tell me that they see all KINDS of military vehicles travelling between Chicago & most everywhere? Or; when I have Federal employees call & want to buy properties because they see the Feds prepping? Or how about when "Sandy" comes through & the New Jersey STATE POLICE have to be dispatched to gas stations to protect civility?
    See, I don't see any of that as conspiracy, or anti-govt.

    "Corporations were putting off investment pending election results and since Obama won another term they will be cautious"
    They were HOPING that he would lose, now that he has won, they will stop most all of thier spending come January 1, 2013. They don't know what their costs are going to be; only that they will be higher. Look for spending to come to a very steep slowdown beginning in January, most pundits are predicting it.

    "Obama has continued to demonstrate his zero private business sense but loves the gov't will take care of all mantra and all you socialists seem to be fine with that"
    Amen, Brother.

    "He's currently trying to push thru another Solyndra type deal here in the desert that hasn't received the necessary permits yet.That should tell you something"
    He's got all kinds of neat things going; they want to eliminate the debt ceiling; and PLENTY more. Just wait, the funnest part is coming, he has a free hand to do what he wants now. The (weak kneed) Republicans are going to cave on taxes, so they don't get blamed for the "fiscal cliff", once they do, the bad stuff will accelerate, like right now. \

    Idahoguy said it very best; WHERE are all the stories of inventive, creatove enerpreneurs, flourishing on the profits from their hard work and risk taking?
    Answer: "Who is John Galt?"

     
  • wheels1 posted at 7:46 am on Sun, Dec 2, 2012.

    wheels1 Posts: 477

    Way to much conspiracy theory and anti govt vibe on this blog.Corporations were putting off investment pending election results and since Obama won another term they will be cautious.Obama has continued to demonstrate his zero private business sense but loves the gov't will take care of all mantra and all you socialists seem to be fine with that.He's currently trying to push thru another Solyndra type deal here in the desert that hasn't received the necessary permits yet.That should tell you something.

     
  • idahoguy posted at 7:36 am on Sun, Dec 2, 2012.

    idahoguy Posts: 932

    PS... If things were so good and getting better why does the Press not start printing stories about people finding great paying jobs, turning their financial woes into success and all the new business successfully opening up around here?

    Nope they feature one failure after another on the front pages..... every picture tells a story....

     
  • idahoguy posted at 7:33 am on Sun, Dec 2, 2012.

    idahoguy Posts: 932

    Joe... If one did not know better one could say...you were a prepper..... Most preppers have learned to seek the real truth which requires turning off the TV and doing some research. I do not buy the Rag either....The charade which the govt and the banksters and a few others are playing is all about them positioning for what they know is going to happen.

    However the vast majority just want and hope it will go back to the good old days and all will be alright again. As you know that is exactly what those in power want us to believe..... they believe in safety in numbers. Problem is their kind of numbers are not prepared thus they will suffer greatly and many will perish.... SGT.com is a good place to start reading to renew your freaking mind. Sadly it is to late now to start doing much about it unless you have a lot of extra cash to invest into the alternate life you will be living in soon.

     
  • JoeIdaho posted at 9:03 pm on Sat, Dec 1, 2012.

    JoeIdaho Posts: 2841

    I get it, and no, I'm not offended, all good.
    What I see constantly is people cashing in 401K's, getting out of the stock market, using inheritance money; but literally no new money; I.E. money that's coming from a new business or invention, service, whatever. So in effect, it's just burning up what is left, with nothing new being created.

    On the DOW being up, it has, but none of it is sensical, and all incredibly reactive to the SLIGHTEST bit of news, especially good news. The market makes literally no sense; Geitner mentions QE4 & the market goes up a total of what; 300 points? First off, QE4 is full fledged jump off the cliff time; secondly, even the markets know for sure it'll be pointless, hence the minimal rise. Withthe major corporations you say that have a very positive outlook, WHY are none of them spending capital? Because none of them are; and almost all of them are laying off employees.

    As businesses go, they have done thier job admirably; they have tried hard to protect their businesses from the overall market as best they could to ensure the survivability of the company; lay off as many as you can, get your ship as tight as it can possibly be run, keep the inveestors happy with stats & positive outlooks, but reality is that there's little money being CREATED in the markets, anywhere, as all markets in America come form the consumer, and they are 1,000% depressed.

    I think the dow will rise 400-750 points when they announce a deal on the cliff, but after that, by the end of the first quarter, you'll see numbers that will make 08' look nice. New, higher taxes everywhere, higher taxes based on Obamacare for everyone; inflation that will take over, and a federal government encouraging state governments and other Nations to follow it's fully wreckless lead of spending money it has absolutely no way to repay; it is doom.

     
  • idahoguy posted at 8:30 pm on Sat, Dec 1, 2012.

    idahoguy Posts: 932

    Dear Lord man... the feds are pouring fake money into the banking system at zero interest. They are spending it to prop up the market. Without the fake money it would have all fail be now. It is also beyond help now. It will crash. Get you head out of your rear and read the truth at the other sources.

    If you are entertaining and believe the market is at an honestly earned high and the rest of your fantasy you are a bigger fool than Iever thought. You are living in your normalcy bias world and not worth my time. Best be buying more long term food and supplies instead...

     
  • idahoguy posted at 8:29 pm on Sat, Dec 1, 2012.

    idahoguy Posts: 932

    Dear Lord man... the feds are pouring fake money into the banking system at zero interest. They are spending it to prop up the market. Without the fake money it would have all fail be now. It is also beyond help now. It will crash. Get you head out of your rear and read the truth at the other sources.

    If you are entertaining and believe the market is at an honestly earned high and the rest of your fantasy you are a bigger fool than Iever thought. You are living in your normalcy bias world and not worth my time. Best be buying more long term food and supplies instead...

     
  • wheels1 posted at 6:46 pm on Sat, Dec 1, 2012.

    wheels1 Posts: 477

    @Joeidaho, You'll notice that my comment wasn't directly aimed at you but rather the negativity of all the posters below.At any rate my apologies if I offended you.I will address your comments tomorrow as I am currently entertaining out of town friends and commenting under the circumstances wouldn't be appropriate.The Dow is(has been) at historical highs considering what the past three year period has presented and ALL CEO's of major corporations being interviewed that I've watched have a very positive outlook concerning recovery.

     
  • JoeIdaho posted at 6:17 pm on Sat, Dec 1, 2012.

    JoeIdaho Posts: 2841

    Amen, Idahoguy, facts is facts.

    It's unreal to me how people can sit & think that rasing taxes is going to fix or even help anything, IF boobama gets his tax increases, they'll total about 1.6 trillion, over 10 years, or $160 billion a year, so they say.
    That comes to about 13 billion a month, a lot of money, right?
    Until you comprehend that we give $FORTY BILLION A MONTH to Banks right now, on an "indeterminate basis", per Geitner.
    So; the amount of money we're going to "tax the rich" is less than half of what we give to banks, every month, now.
    We are doomed.

     
  • idahoguy posted at 3:26 pm on Sat, Dec 1, 2012.

    idahoguy Posts: 932

    Go to SGT.com and read the real freaking news people. Get you head out of your other place. We are a bought to crash in several ways and homes are not going to even be a topic on anyone's table. You will either be ready and lay low or you will suffer like you never imagined.

    The fabricated lies you are being sold and then your own normalcy bias is going to sooth you until the grim reaper comes a calling. The fiat money system simply never has sustained itself when this kind of over printing has taken place in history. I also can fine s=no example in history were over spending, borrowing and printing fiat money ever returned any nation to it's feet. They all fell in ruin.

    But rest assure the Press will keep printing pointless news, avoiding the real truth and pacify you all until it fails. Keep rearranging the deck chairs people...keep doing it until they are floating.

    Normalcy Bias......

     
  • JoeIdaho posted at 12:11 pm on Sat, Dec 1, 2012.

    JoeIdaho Posts: 2841

    Ummm....wheels, my "combined ignorance of Real Estate" is not really what you think it is. I sell a TON of Real Estate, and am extremely active in this market. I think I know what I'm talking about, as I do it EVERY DAY, and it's my Primary job.
    The distressed properties that haven't hit the market will drive prices downward in their respective areas, certainly. The improvement in sales Nationaly have NOTHING to do with an "improving economy", that's a JOKE. The "money on the sidelines" that some like to spout off about is true, but ONLY to a certain extent, reality is this:
    NO new jobs are being created.
    NO new manufacturing is being created.
    MORE people apply for unemployment than get jobs, every day.
    Inflation is turning quickly into hyperinflation.
    Taxes are about to rise for ALL Americans.
    And American voted for ALL of the above in November.

    So; if this is "getting better", I wonder what "getting worse" means?

     
  • wheels1 posted at 5:59 am on Sat, Dec 1, 2012.

    wheels1 Posts: 477

    Do you people ever have anything positive to say?Your combined ignorance of real estate and the economy is overwhelming.There are distressed properties that haven't hit the mkt yet but sales and prices are in fact improving nationwide.Low priced inventories are moving faster as prices start to increase and availability is decreasing.The high priced mkt also is showing improvement.There's a lot of money on the sidelines. You're all so negative.To bad.

     
  • JoeIdaho posted at 4:43 am on Sat, Dec 1, 2012.

    JoeIdaho Posts: 2841

    Rough crowd here.....
    OK, here's Joe's take:
    The reason that sales overall are up is because there is pent up demand, and because a lot of properties have had prices drop to the point that sales get made. Just really cheap houses & land, that's all.

    As to the prices "going up", again, a result of the cheapest properties coming off of the market, but not because everything is "improving". There are some properties in the lower ranges, less than $200, that get multiple offers, much of that is just again, pent up demand, and no, I don't think prices HERE in North Idaho are going to "continue down". The reason for it is because there are a LOT of new people coming; from all over America, to North Idaho. They primarily buy rural property, and are Preppers, and the worst the situation gets Nationally, the more will come. This is just fact.

    IF the economy WAS getting better, rising prices WOULD be a good thing, but the economy isn't improving, so rising prices aren't a reality, and are short lived. Right now, TomKatt, you can also look at the other side of the coin, the Seller's side. Many of them are upside down, or struggling as well, and it gives them hope when they see a house sell for what they hoped it would. Don't get me wrong, I don't see a big climb in valuations, but I can tell you that demand here is rising, and again, has NOTHING to do with an "improving economy".

    I am a Realtor, but I wasn't one in 2005-6, when they made money hand over fist, so I've never seen this "easy money". I became one in 2008, at the (supposedly) worst of the market; and I've fought my way through all of it, the worst market since 1929. I'm selling plenty, but most all, again, to Preppers. I work most weekends, and start most days early, between 1 & 4:00 AM to keep up with my Buyers. Oblowma getting reelected was in the end good for North Idaho, as he is the worst thing that could have happened to America, but he has/is driving excellent people here, they bring money, ability, and common sense, and they're from literally all over the country, not just California. Our economy is bad, but nothing like what people are coming here from. We're lucky to be here, people.


     
  • idahoguy posted at 5:25 pm on Fri, Nov 30, 2012.

    idahoguy Posts: 932

    You do not get it... the prices go up and so do the leaches percentages on each sale. Do the math....

     
  • TomKatt posted at 2:06 pm on Fri, Nov 30, 2012.

    TomKatt Posts: 125

    These greedy soul-less realtors are something else, do they think we are stupid? How are rising home prices a good thing, simply means that more and more of those struggling to get into a home are priced out of the market,

     
  • TomKatt posted at 2:00 pm on Fri, Nov 30, 2012.

    TomKatt Posts: 125

    These greedy soul-less realtors are something else, trying to sell the idea that rising prices are a good thing, how stupid do they think we are? Many of those struggling to get into a home are already priced out of the market,

     
  • Mark on the Park posted at 11:35 am on Fri, Nov 30, 2012.

    Mark on the Park Posts: 471

    I'm kidding. Of course I know that agents supposedly represent the interests of both the seller and buyer (hahahahahaha), and that this is not necessarily the case with many used car hawkers.

     
  • Mark on the Park posted at 11:29 am on Fri, Nov 30, 2012.

    Mark on the Park Posts: 471

    Why aren't used car salespeople called "agents"? The only difference is the product being sold.

     
  • hope4idaho posted at 10:19 am on Fri, Nov 30, 2012.

    hope4idaho Posts: 29

    Q: How can you tell when a real estate agent is lying?

    A: When their lips are moving.

     
  • idahoguy posted at 7:53 am on Fri, Nov 30, 2012.

    idahoguy Posts: 932

    This is just another cut&paste lie from the realtors again and the press swallows it hook,line,sinker...again. The jokers have been saying this story since the market began the slide many years ago. It is about to get much worse real fast. Better than buying a home you should be stocking piling commodities.

     
  • Jill Heine posted at 5:05 am on Fri, Nov 30, 2012.

    Jill Heine Posts: 408

    so much for truth in lending. how many homes are off the books? How much old inventory do these Mz. Schmucks have to dump on the market as current 1300 listings diminish?

     
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