And then there was snow!
…and Christmas lights, decorations, and the occasional Santa. Clearly, we have entered December.
In this month’s newsletter:
- Neighborhood real estate
- Neighborhood rentals
- Use caution when looking at this!
- Alphabet soup
- The greatest show in snow (and it is in our neighborhood)
- School is out (soon)
- Health care
- Christmas Trees
- 10 articles
- Thank you to one of our neighbors
How’s the real estate market?
Since I’m a REALTOR, we’ll start here.
The activity in Lochsa Falls has cooled a bit since last month. There were 4 new properties that have hit the market. And while that was half of the action we saw in October, it is still up from only 1 new listing of November 2017. There are still 10 homes available in the neighborhood.
So what does this mean?
There is a little over 2 months of inventory available when we consider that about 4 homes are going under contract each month. This is still a seller’s market, but things have been trending toward a more balanced market over the last three months.
Meridian is still seeing an increase in sales prices of single-family homes compared to last month. However, the Days on Market (DOM) continue to increase, now moving up for the third straight month.
The FSBO (For Sell By Owner) at 2560 Wolf Rapids is still available. They are currently only showing the home by appointment. It is a 4 bed, 3 bath two story home with 3,465 sf and is on 0.32 acres. They are asking $539,000. If you would like to make an appointment, you can call 208-350-9700. Or I would be happy to set that up for you. Just give me a call (208-830-7115) or send me an email, vince@ amherstlegacy.com.
2290 W Rattlesnake Drive is now on the rental market. It is a 4 bed, 3 bath, 2,560 square foot home and they are asking $1,950/mo. Click here to see the link on Zillow and call 208-287-0404 for more details.
1828 W. Divide Creek is still available for rent at $2,100/mo. It is 5 bed, 4.5 bath and 3,431 sf. It was for sale this past September but now is on the rental market. Call Juli at 208-298-9449 for details.
If you have a rental property that you would like to share, let me know. I’m happy to share!
Be careful with those numbers
I mentioned last month that numbers don’t always tell the whole truth (click here to read November’s newsletter).
But I decided to go further with that and wrote up an entire post about why you should be careful and then provided a bunch of examples. You can check out the article I wrote by clicking here.
The main point is this: without context and in-depth analysis, the numbers mean nothing. You need to get deeper and truly understand the context by which these numbers are being presented.
As of Wednesday morning, there were no open houses scheduled on the MLS in Lochsa Falls.
Definitions (Real Estate Alphabet Soup)
Days on Market vs. Cumulative Days on Market – DOM, or Days on Market, is a stat used to let you know how long a home has currently been on the market. The key here is currently because it does not always represent the total days on market. That is where the CDOM (cumulative days on market) comes into play.
If a home was taken off the MLS (multiple listing service) for 31 days or less and then placed back on the market, the CDOM is a running total of the length of time. This number is important because if it doesn’t match the DOM, it indicates that something has happened on a home’s journey to be sold. It may be important or it may be nothing. But it is ALWAYS worth finding out!
What Else is Going On?
The greatest show in snow – you may want to check out the special light and music show on the corner of Divide Creek and Wild Goose. The best way to watch is from your car, as you will need to tune your radio to a specific FM station. Then watch the coordinated music and lights from the warmth of your vehicle! It is worth a trip over.
Whether you have kids in school or not, our neighborhood will be affected by the winter vacation that the West Ada School District will be observing. Schools will be out starting December 24 and will begin again on January 7.
If you are enrolling in a health care plan through the Idaho Exchange, the deadline to get enrolled or make changes to your current plan is December 15. I have been advised by a health insurance agent that while signing up can be done in minutes, the processing can take a couple of days. You might want to sign up early! Learn more at yourhealthidaho.org or click here.
If you have a real Christmas tree this year and plan to utilize Meridian’s trash removal (Republic Services), here is what they are offering, copied directly from their website: “Christmas Tree Recycling – Christmas trees are recycled the first full week in January. Cut trees and branches into 4ft pieces and place curbside on service day. Trees with lights, tinsel, ornaments, a stand, or flocked will not be accepted.” Learn more at their website by clicking here.
10 More Articles Worth Reading
Be careful – those real estate numbers may not be what you think – click here
The greatest home selling tip – click here
A Giving Circle, raising $100k for local charities – click here
Idaho’s wine scene has endless potential – click here
Goldman Sachs: 3 reasons why the US Housing market is slowing down – click here
In Idaho, 5th, 6th graders can ski for free – click here
Dog off leash season is here – click here
Best and worst home improvement projects to improve the value of your home – click here
Boise files lawsuit against 20 pharmaceutical companies – click here
An introduction to Idaho’s Basque community – click here
Winter Tip – Shoveling Snow
Hopefully, you have enjoyed this issue of Neighborhood News. Feel free to sign up for the email version as well. The sign-up form is at the bottom of the page.
I was given a great tip from one of our neighbors, Brian and Carrie Patterson. When shoveling the snow off your driveway, don’t forget to clear the gutter on the street. When the snow and ice start to melt, the gutter is the runway. But if the runway is blocked by ice, you will end up with a lot more ice when the temperatures drop down below freezing. And that can cause some real problems when trying to back out of your driveway.
Thank you, neighbors!