DO NOT move to SANDPOINT!
I have coveted a life in Sandpoint, Idaho ever since I discovered this mountain town in the early 70's. Life's twists and turns did not allow me to actually move here full-time until 2005. I had many valid reasons for delaying the inevitable and I stand by them. One of the big reasons, however, was that I was worried Sandpoint wasn't ready for me.
I'm a tennis player. I have been playing year around (indoors and outdoors) for the last thirty years. This included local and regional tournaments, USTA leagues (summer and winter), fanatical tennis buddies who retained the same indoor permanent court times for 20 years running, tennis drills, tennis parties...you know the scene. The question always was...can I be happy in Sandpoint without indoor tennis?
Well, I'm here to tell you...if that is a stumbling block for any possible Sandpoint transplants today, you can put those fears to rest. (You'll have to also put some of your preconceived notions about appropriate "tennis weather" aside also. We just don't care about that here.) This place is EXTREME...the weather, the people, the geography, the politics, THE PASSION.
I just got off the court after a grueling 3 hour match with three of my close tennis buddies (Steve Kirby, Eric Plummer and Joel Wahlin). The match started in rather cool 31 degree weather and ended in a warmish 35 degree blizzard. Two amazing things happened; 1) the level of play never wavered and, 2) we just got the perfect 3 hour cross-training workout in preparation for the November 27th ski opening of Schweitzer Mountain - the pride and joy of North Idaho. The perfect start to the day!
While we were playing, there was an ultimate frisbee match taking place at the other end of the park. People don't hide from blizzards around here, they rejoice. (That is Eric above...he wasn't down long).
Bottom line, I'll be playing outdoor tennis here probably into December...I'll play about ten times indoors this winter in either Coeur d'Alene or Spokane...then, on February 25th, the high school tennis season begins (did I mention I coach the team?) and I'll be on the court five to six days a week until the middle of May. The middle of May marks the beginning of the "summer tennis season" (weather permitting...in other words, it will have to be pouring rain for us to "bag it"). Like my wife says, "Kent, you get your fair share of tennis in Sandpoint!" ...and that is my message to you. Do not let our lack of indoor tennis dissuade you from moving to Sandpoint! This place rocks it. (and, by the way, with a little luck we'll have an unbelievable indoor tennis facility here in the VERY near future...more on that later...)
When I am not playing tennis with passion (...or skiing), I am selling real estate with passion from the Coldwell Banker Resort Realty, Schweitzer Mountain office. CALL ME! I HAVE MORE STORIES!
Idaho first-time homebuyers may be eligible for down payment assistance funds of up to $20,000 in conjunction with a mortgage loan from IdaMortgage, a program of the nonprofit Idaho Housing and Finance Association. The funds are available until Jan. 1.
Anyone who meets income qualifications should take advantage of this limited-time funding opportunity that will allow them to purchase a home.
The dollar amount buyers may receive from this federal program funding ranges from $1,000 to $20,000 and is based on need. Borrowers must be at or below 80 percent of area median income and be a first-time homebuyer to qualify for this no interest, due-on-sale loan. For example, according to the Idaho Housing and Finance Association, a four-person household in the Treasure Valley must make $50,000 or less to meet income requirements.
In addition, Idaho first-time home buyers may also use their $8,000 tax credit toward the down payment of their home through the use of a bridge loan from their lender. Borrowers must still come up with the required 3.5% down payment using their own funds, but after that, they can use the "short-term" tax credit bridge loan to increase their down payment, cover their closing costs or buy-down their mortgage rate.
The down side? ...credit scores. You will still need to pay close attention to your credit score to qualify for any sort of mortgage. In general, a score under 650 will make the process difficult.
There are real estate opportunities for the right Idaho home buyer, the problem is getting the information out to them.
This is what I saw on my way to Starbucks this morning. That's Schweitzer Mountain Ski Resort in the distance with a skiff of snow showing. I'm constantly awed by the beauty here in Sandpoint, so I never go anywhere without my camera. As always, the camera really doesn't do it justice.
It wasn't long after this shot that "the storm" came through and dumped 12" of snow at Schweitzer Mountain.
First Time Homebuyer Tax Credit Extended Into 2010!
Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time. So Who Gets What?
The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Deadlines
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Higher Income Caps in Effect
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.
First-Time Homebuyer Tax Credit – Frequently Asked Questions
Here are answers to some commonly asked questions about the tax credit. What is a tax credit?
A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence. What is the tax credit for first-time homebuyers (FTHBs)?
An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000. Who is eligible for the FTHB tax credit?
Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible. As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500. How do I claim the credit?
For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf). Can you claim the tax credit in advance of purchasing a property?
No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1) the right of possession, 2) the right to obtain legal title upon full payment of the purchase price, 3) the right to construct improvements, 4) the obligation to pay property taxes, 5) the risk of loss, 6) the responsibility to insure the property and 7) the duty to maintain the property.
THIS IS A MAJOR HOMERUN FOR MANY FIRST TIME HOME BUYERS (I have a few clients who will benefit from this)...
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due. You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. You do not use the home as your principal residence. You sell your home before the end of the year. You are a nonresident alien. You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.) Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.) You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009. Can you buy a home from a step-relative and be eligible for the credit?
Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed. Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit?
Yes. Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years?
No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA. Can you buy a home from a step-relative and be eligible for the credit?
Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed. Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit?
Yes. Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years?
No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
This isn’t what I signed up for when I became a Realtor®…I don’t think.
"The core of mans' spirit comes from new experiences."
— Chris McCandless, (Super Tramp from “Into the Wild”)
The above quote quite adequately sums up my involvement with the Sandpoint Association of Realtors (SAR) HARVEST PARTY last night. Long story short…I played the role of Dracula in the Haunted House portion of the event and, in so doing, stepped far out of my comfort zone. The fact that my wife was on the HARVEST PARTY committee and is also the vice president of the SAR MLS pretty much sealed my fate.
My “nature” would not typically allow me to volunteer for a role such as this but, in this instance, my “nature” was not part of the equation. I squirmed a little, but I quickly realized this was a path I was going to have to walk so I accepted my fate and became Dracula for a night (as best I could, anyway). My pain was eased when I was informed I would have two beautiful “Draculettes” at my side in the frightening “Haunted House Bedroom Scene”.
The committee set the Haunted House up as a “typical” Brokers’ Open and created a 1-bedroom, 1-bath home within the confines of the Bonner County Fairgrounds Field House in Sandpoint. My wife (affectionately called AGENT SLASHER) played the role of the Realtor® hosting the Broker Open and she lead several groups of four to five agents into the dark, dank, frightening portals of the home throughout the evening. (Doesn't she make a lovely hostess?) The rest of the players in the scene did their best to scare these groups of “seasoned agents” as they passed through. Our nineteen year-old black cat, Chester, even joined in the fun…his job? … to meow, moan or howl and add to the atmosphere of fear we created (who cares that he never made a sound from his cage in the kitchen …thanks a lot, Chester).
From left to right: Norman (dressed as Norman's Mom), Psycho Shower Screamer, Dracula, the Little Kitchen Creature, Agent Slasher, the French Maid, the Crazy Chef, Beautiful Vampire #1, Beautiful Vampire #2, the Boogie Man, Norman's Mother, the Main Course for Supper, the Clown (we all fear the Clown) and the Head of the Dinner Table. Missing: Susan (the mastermind behind the event - she is taking this photo) and the Chainsaw "killer" lurking at the back door.
A good time was had by all! We were able to raise much needed and appreciated funds through donations and a silent auction to benefit the Grant & Scholarship Fund the Sandpoint Association of Realtors sponsors. We should ALL be proud of the shared efforts our Realtor Boards put forth to find ways to positively impact the communities we live and work in.
MANY THANKS TO ALL PARTICIPANTS AND HAPPY HALLOWEEN!
“Happiness is real when shared”
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SKI WITH ME B/4 YOU BUY! I sell Real Estate on the MOUNTAIN & on the LAKE! Specialty: CONDOS on the mountain - HOMES on the lake. Sandpoint's premier waterfront: WWW.SALISHANPOINT.COM A Must See!
As a Sandpoint, Idaho land & homeowner since 1978, I understand what a financially sound and satisfying decision it can be to own real estate in Sandpoint & Bonner County.
As a business owner since 1980 overseeing upwards of 120 employees and negotiating multiple contracts involving lease holdings, real estate, investment property and assorted financial matters, I have the professional experience to insure the smoothest possible real estate transaction for all of my clients.
I approach my real estate with integrity, professionalism and passion.
HOME OF THE MONTH!
This is the most spectacular home on Sandpoint's treasured Lake Pend Oreille in North Idaho! The Cottage On The Lake is a craftsman’s masterpiece... a unique combination of native North Idaho Stone hand-placed to create 18 inch thick walls with authentic, doweled timber-framed infra-structure including dramatic metal connections and strappings.. This is a one-of-a-kind family enclave that exudes warmth and security in every room. The 8,000+ sq. ft. main home includes 5 bedrooms and 5 baths. Future living quarters above the over-sized 3-car garage offers dramatic expansion opportunities. 350 feet of coveted shoreline make this the SANDPOINT HOME OF THE MONTH! Offered at the REDUCED PRICE of $5,499,000.00. Call me at 208-610-1201 to discuss the possibilities!
Kent Anderson is a Realtor®, sales associate with Coldwell Banker Resort Realty in Sandpoint, Idaho.
If you are considering buying or selling a home in Idaho, you deserve local expertise and advice to be provided by a professional in real estate. Kent Anderson, is a full-time Idaho REALTOR® providing full time, professional real estate services to home buyers and sellers in the cities of Sandpoint, Sagle, Ponderay, Kootenai, Priest River, Priest Lake, Hope, Bonners Ferry, SCHWEITZER MOUNTAIN RESORT and all surrounding cities in the Bonner County / Boundary County North Idaho area. You may be relocating to or from Sandpoint, Idaho due to any number of reasons... whatever the case, when searching for a real estate professional outside the state of Idaho, please feel free to Contact Me or call me at 208-610-1201. I have associations with fantastic agents throughout the U.S. and I would be happy to help you get connected.
EDUCATION:
- UNIVERSITY OF MINNESOTA, MINNEAPOLIS, MINNESOTA; 1971 - 1973; BACHELOR OF ARTS DEGREE- ENGLISH MAJOR
- UNIVERSITY OF MONTANA, MISSOULA, MONTANA; 1969 - 1971; ASSOCIATE OF ARTS DEGREE
- Graduate - NOLS (National Outdoor Leadership School) Lander, Wyoming
- EDINA HIGH SCHOOL, EDINA, MINNESOTA
PROFESSIONAL EXPERIENCE:
- Current licensed realtor - Coldwell Banker Resort Realty - Sandpoint,Idaho (www.cbsandpoint.com);
- CreativeDesigns by Kent, Sandpoint, Idaho 2006 to present (Adidas/Salomon team sales, corporate sales, corporate apparel);
- Owner - Mall of America Gift Stores 1994 - 2006 (80 - 95 employees);
- Former licensed realtor - Edina Realty - Stillwater, Minnesota;
Member:
Coeur d’Alene Multiple Listing Service
Selkirk Association of Realtors Multiple Listing Service
Idaho Association of Realtors
NAR - National Association of Realtors
Sandpoint Rotary International
Sandpoint Greater Area Chamber of Commerce
Former USSA Certified Ski Team Race Course Supervisor
Founder - Canyon Racquet Tennis Club, Missoula, Montana
Board of Directors: Whiskey Jack Homeowners Assoc.
Outside Interests: SKIING - (raced pro format dual slalom in the Salomon Cup - Aspen, Colorado / raced - MN Corporate Race Series); TENNIS - (former member U of Montana tennis team; former 5.0 Sectional Team Tennis Champion - MN), HIKING, BIKING, SWIMMING, MOUNTAINEERING, RUNNING (Aspen Marathon finisher), WIND SURFING
By the way, if you know someone who is thinking of buying or selling in Sandpoint, Idaho, please contact us with their name and contact information and we will be happy to follow up and take good care of them.
CITIES SERVICED IN BONNER COUNTY:
NEIGHBORHOODS SPECIALIZED IN SANDPOINT:
1) YOU SIR, ARE THE BEST IN THE BUSINESS!!! Thanks. - Jeff Bostow
2) in a word ---- OUTSTANDING!!!! I certainly hope you never get tired of doing this....Best always, D E
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