Boise, ID Real Estate Market Trends & Analysis

THAN MERRILL | May 21, 2018

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The Boise real estate market has become the single greatest beneficiary of Idaho’s booming economy. Appreciation rates in the last year have outpaced the national average, and there’s nothing to suggest they want for the next 12 months. For all intents and purposes, the Boise real estate market is about as healthy as you’ll come across in 2018. That said, Boise hasn’t managed to escape the same inventory shortage plaguing the rest of the country. There is still demand house despite prices going up, but something needs to give. For Boise to realize its true potential, it needs to add inventory, and fast. That way, it can take advantage of the recent increase in population and continue its hot streak.

Spotlight

Kinsley Construction, Inc

Kinsley Construction is a full-service construction management and general contracting firm that operates in the mid-Atlantic region of the US. We deliver projects on time and on budget, with no surprises. Our collaborative project approach sets the standard for communication with our customers to provide client-driven solutions and satisfaction.

OTHER ARTICLES

Top 5 Trends Affecting Real Estate in 2020

Article | February 19, 2020

Any buyer that’s been looking for a home can tell you how difficult it is right now to find a home in their price range. Several factors contribute to this trend. Baby boomers are staying in their homes longer, and we have tons of millenials looking for their first or second home. So we have lots of demand, but not enough supply. This is great for sellers, but buyers want to be prepared for it to take several months to find the right property for the right price. Another reason we are seeing such an influx of buyers is because interest rates are staying very low, making it incredibly affordable to obtain a mortgage. As of writing this, a 30 year fixed rate mortgage has an interest rate of 3.62%, and 15 year fixed rate mortgage has an interest rate 2.87%!

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Helping Companies to Navigate a Changing Commercial Real Estate Landscape

Article | February 19, 2020

The COVID-19 pandemic has negatively impacted most every industry over the past few months, creating a scenario of rising financial stress, retracting employment and diminishing market confidence for companies around the globe. The commercial real estate industry hasn’t been immune from the pandemic’s downward pressure on the economy. Many real estate owners and investors, and the service-based companies supporting these organizations, have found themselves in a wait-and-see mode before making decisions about projects and other business initiatives. To that end, according to a recent Bisnow story on data collected by independent research and advisory firm Green Street Advisors, real estate investment trust shares have decreased by 34% since mid-February, while office high-rises have experienced a 10% decrease in overall value across global markets. The same story notes unsurprisingly the retail sector has been among the most negatively impacted product types across the world’s commercial real estate portfolio.

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REAL ESTATE ADVICE

Revitalizing Multifamily Communities with Impactful Resident Services

Article | February 19, 2020

Impactful service-enriched housing programs and onsite supportive services build a foundation for serving the unique needs of a rental community’s tenant base. Quality services that address the individual concerns of each resident help eliminate the challenges that force turnover and increased expenses for property managers. Service-enriched housing includes the incorporation of programs and services within a community that advances the social and economic skill set of tenants. Meeting net operating income (NOI) and covering debt service obligations are key performance indicators for property managers. Tenants must be valued because they are crucial to improving the financial performance of a community or property. Without support in discovering a realistic path to self-sufficiency, these improvements made will not promote the stabilization of a tenant population. The key outcome for a community through the implementation of service-enriched housing programs is internal revitalization. Tenants benefit socially and economically from services that support access to job readiness, education and financial growth. During this time of economic instability, our resident services coordinators help remove barriers that plague many living in rental housing communities. Through its partnership with Esusu, Rainbow has alleviated tenants’ significant economic hardship by bridging default payments with no-interest loans. Tenants can use the company’s rent reporting platform, which sends on-time rental payment data to the three major credit bureaus – allowing them to build and develop their credit scores. Prioritizing tenant empowerment offers tangible and intangible changes in a property, leading to increased financial performance and improved tenant retention. It also reduces turnover costs for property management such as flooring, paint and reletting fees. Free programs and services also improve the marketability of a property to prospective tenants. Rainbow communities have seen a reduction in community vandalism since the implementation of youth enrichment programs that keep children engaged and supported in their education. Quality service-enriched housing programs, such as those offered by Rainbow Housing Assistance Corporation, provide direct access to resources that support the needs of physically and mentally disabled individuals, veterans, chronically homeless, single-parent households, families and seniors. Additionally, this type of outreach attracts the interest of local city, state and federal agencies as it helps stabilize the most vulnerable communities, cutting city and government expenses on a number of levels. This type of approval can even lead to further funding and support for initiatives that will enrich the future of affordable housing services. Key programs and resources address life skills, financial intelligence, education, employment, youth and senior programs, resources to eliminate emergency situations, and social development in a multifamily community. The implementation of a professional, service-enriched housing program with onsite staff ensures that these offerings are tailored to each community and primed for longevity. A stable tenant base will determine the solvency of a community and reposition the financial performance of an asset.

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How Technology Is Enabling the Real Estate Process

Article | February 19, 2020

Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for homeownership, an essential need for all. Here’s a look at some of the elements of the process that are changing (at least in the near-term), due to stay-at-home orders and social distancing, and what you may need to know about each one if you’re thinking of buying or selling a home sooner rather than later.

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Spotlight

Kinsley Construction, Inc

Kinsley Construction is a full-service construction management and general contracting firm that operates in the mid-Atlantic region of the US. We deliver projects on time and on budget, with no surprises. Our collaborative project approach sets the standard for communication with our customers to provide client-driven solutions and satisfaction.

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