About Elmore County, ID

It's a beautiful morning here in the amazing central Idaho mountains. The birds are singing, the creek is rushing, and the sun is shining. Our sleepy little town below is waking up.

We had a wonderful trip down Edna Creek Road last evening. A little bumpy in places as the road yearns for it's first grading after the run-off of spring. On one turn we reached a mountain meadow and two deer and a cow elk stood watching us as they grazed on fresh, green sprigs of grass. When we reached the Middle Fork Road, we knew we were getting closer to our mountain hide-a-way. Thoughts of campfires, s'mores, 4-wheeler rides and sipping coffee on the deck enter our minds the closer we get. Rounding another curve in the road, we came upon a mama deer and her newborn fawn. The mother raced up the hillside and stopped halfway up to check on the fate of her baby. On wobbly legs, the little fawn took one look at us and the hill and plopped right down in the middle of the road. This little one could not have been more than a few hours old. The temptation was strong to scoop her slight little body up and gently transfer her to the safety of the side of the road. Mother deer was cautiously watching our every move and we knew we needed to continue on our journey and let this little one find her way. We parked down the road, just out of sight to make sure she was okay. Ever so slowly the little deer picked her head up and on spindly legs stood. She moved hestitantly to the side of the road and started her seemingly impossible journey up the steep mountainside to join her mother. We reflected on the fragility of life and the vulnerability of newborns in nature.

Onward towards Atlanta we travelled, in wonder at the marvelous sites our starved eyes were seeing. The highest peaks still show the white capped evidence of a cold winter. The river is wild with it's collection of spring runoff. We reach our little mountain town and see wisps of grey curling from rooftops and the smell of wood smoke filling in the air. Crisp air at nearly 6000 ft evelvation fills our senses and refreshes our spirit.

Today we are enjoying the morning after a sound and restful sleep in our cozy cabin. The birds are busy gorging themselves on our newly filled feeders and the dogs and kids are enjoying the sunshine and outdoors. We are blessed in every moment we experience the wonder of this area in beautiful Idaho.

May your weekend also be filled with wonder!

The much-talked about $8,000 tax credit for first-time homebuyers recently expired for most people, But if you're military or a certain government employee, this fantastic opportunity has been extended to 2011! You still can qualify for a tax credit of up to $8,000 even if you're not a first-time homebuyer.

Briefly, if you sold a home because of "orders" between 1-1-09 and 4-30-10 and served at least 91 days extended duty, you will qualify for the homebuyer tax credit as long as income, sales price and age (18 years) requirements are met. You need to sign a contract by April 30, 2011 and close on your home by June 30, 2011.

Who qualifies?

• Member or spouse of "uniformed" services or the US Foreign Service
• Employee or spouse of the Intelligence Community

To also qualify, you must also have served Extended Duty for 91 days between Jan. 1, 2009 and April 30, 2010:

• Outside the US or
• Inside the US and had to relocate at least 50 miles from principal residence

Call Dean Tucker at Waterstone Mortgage - Prime Equity Group for more information (208) 287-1717. As a seasoned mortgage professional I can help you make the best decision about one of the largest financial purchases you may ever make.

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The clock starts running on a new home when the Mountain Home, Idaho Building Department signs the building permit. Advances in building science and changing economic conditions work together to cause our homes to rapidly become something less than "state of the art" and worth less than the "next new thing". This is true of every home in the community, but 30+ year old homes need special attention to ensure that value lost by obsolescence doesn't negate value gained through other factors.

It's important to recognize that older homes, in particular, are competing not only with other homes for sale but also with the options of renting in town or living on base.

In Part I of this post we'll look at the "bigger ticket" items to consider and budget for.

My Three Recommended (Major) Upgrades to the Older Home

• The Clear Winner - Energy costs aren't going anywhere but up and installing double pane windows is often a cost effective and visually appealing upgrade. Buyers using VA financing can usually include the cost of new windows and other energy efficiency items in their loans but there's a trick to buying windows so contact me first.
  
  
• Leave the Gravel in the Road - Gravel roofs are messy, trouble prone and singularly unattractive. If you currently own a home with this roofing system and it's time for significant repairs, spending the extra money for shingles may be a smart choice. The current cost of replacing a gravel roof with shingles is about $3.50-4.00 a square foot but shingles require less maintenance and have far greater appeal to buyers.
  
  
• Don't Be Short Circuited - Fused, 60 amp electrical systems are antiquated, possibly dangerous and usually uninsurable - fused, 100 amps systems are only slightly better. Even the smallest of homes should include minimum 125-150 amp service with circuit breakers. Although not as costly as new windows or roofing, upgrading the service may require other code updates so be sure to talk to an electrician first.

Buyers Beware - If you're buying a home with seriously obsolete components (e.g. single pane windows) BE SURE that this is reflected in what you offer. Ask to see sales information about homes with and without the upgraded items. But then again, that's what a good real agent is for.

Jan DeGiorgio - Associate Broker
Century 21 Southern Idaho Realty
Mountain Home, ID
www.mtnhomejan.com

Activity and Prices By historical standards, 2007 was a good but not record setting year for Mountain Home. Sales of both new and existing homes were off about 19% from 2006. During the same period, the median price of existing homes increased by 12% to $152,000 while new homes saw a price drop of about 5% to $192,000. Much of the decrease in new home prices is because fewer, more expensive homes on acreages were built in 2007.

Marketing Time The average marketing time (from date of listing to date of closing) is currently 59 days, an increase of 7 days for the year. However, a recent spike in the average number of days current (unsold) listings have been on the market suggests that the 59 day figure will increase significantly in the near future.

2008 Forecast Although activity has recently (and noticeably) slowed, Mountain Home continues to escape the carnage that other areas of the country are experiencing. One of several factors in Mountain Home's favor is that relatively few sub-prime loans were made so a market flooded with foreclosure properties (and the potential for a "value death spiral") seems very unlikely.

In summary, based on what I'm seeing now, it's unlikely that 2008 will look much different than 2007 - Buyers will maintain the upper hand and Sellers will need to forget the double digit appreciation rates of the past few years and price their homes according to current market conditions.

A Small Side of Facts To Go With the Steady Diet of Media Misinformation Although I feel that "shooting the messenger" might be a bit much, I sure would like to kick him in the shins. As a tonic to the daily dose of hysteria and hype we're being fed every day, I'm including a couple of facts from the Office of Federal Housing Enterprise Oversight that I think will be enlightening.

1. The annualized, national price decline is currently 1.5% - a far cry from the numbers you've probably seen.
2. Price changes, up or down, are based entirely on local market conditions. Over the past four quarters, homes in Merced, CA have lost 13% of their value while those in Idaho Falls, ID have risen by nearly 12% with a 9% increase in the Mountain Home area. Opportunities

Contact Me to learn about the best values available in the Mountain Home, Idaho real estate market and for general market updates.