Coeur d’Alene Market Update Summer 2011

Many people have been asking my opinion about what is going to happen with the North Idaho real estate market in the next few years.  I feel the same way that I have for the last couple years.  We will continue to see a slow drop in prices until inventory levels drop to normal.  At that point I am hopeful that we see slow, healthy appreciation.  My prediction is that in North Idaho, it will probably be a couple years before we see this turn.  It has been a crazy year with our country almost hitting its debt ceiling, crazy stock market volatility, and biggest of all, my wedding!  That is right….I am officially off of the market and am happily married to the girl of my dreams.  The wedding has kept me plenty busy over the summer and I am looking forward to spending some quality time back at the office, studying the real estate market.  Once things here in Coeur d’Alene slow down, we will take some time to honeymoon down in Mexico.  I am truly a lucky man.  Now, back to our real estate market…

As I have been saying we are slowly getting closer to equilibrium in the market.  Prices have continued to drop and will probably continue to do so for the next year or so.  We are starting to see a bottom in some of the lower end markets.  Recently I have had buyers offer 5% over asking price only to have their offer rejected because someone else made an offer for 10% over asking price!  This shows that there is high demand out there, but buyers are waiting for great deals.  Most of the buyer activity has been for homes under $200,000 that are priced below market value.  With interest rates so low, you can leverage out a home in this price range and still make monthly profits.  Today’s real estate market is a dream for investors!  There is a lot of truth to the saying, “You make your money when you buy, not when you sell.”  Higher end markets including waterfront homes and large estate properties will take a while to catch up.  There is still a large excess of inventory, and until it all gets bought up, foreclosed on, or taken off the market, prices will continue to drop.  This creates some amazing opportunities to make money.  If you keep the mindset of, “You make your money when you buy”, this is the best market we have ever seen!

If you have any questions or comments about Coeur d’Alene’s Real Estate Market, or North Idaho’s Real Estate Market feel free to call or email anytime. 

Jared McFarland

208-771-1454

Fall 2010

Coeur d'Alene Real Estate Market Update

It has been a few months since I have posted, so I have plenty to catch up on.  It was a great summer for real estate sales in CDA.  Sales numbers were up from last year and we are starting to see more investor activity.

We still have an excess in inventory and will continue to see prices drop for at least another year or two.  Sales are up, so it is just a matter of time before inventory levels fall and home prices go back up.

Interest rates are still at amazingly low numbers.  I have seen many people in the last couple weeks lock in rates around 3.5%!!  I have seen jumbo loans done for around 4%!  Interest rates make a huge difference in what you can afford.  One half of a percent can make your buying power go up tens of thousands.

The other nice thing about these low interest rates is that it makes investment property pencil out better.  If you have been thinking about investing in duplexes, triplexes, apartment buildings, or rental properties make sure to give me a call.  Low prices and low interest rates make for very happy investors.  Opportunities are endless right now!

The weather man is calling for heavy snow this winter in Coeur d'Alene.  The skiing should be spectacular, and the money made by investors will be high!  If you have any interest in purchasing real estate in Coeur d'Alene Idaho or the northwest make sure to give me a call.  Any real estate leads are also much appreciated!

If you have any comments you would like to post on this blog, please email them to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Signing out,

Jared McFarland - Century 21 Beutler and Associates, North Idaho real estate professional

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Spring 2010

Already April and we are approaching summer in Beautiful Coeur d'Alene Idaho!  Summer is a season we all look forward to.  Swimming, boating, camping, hiking, biking, fishing and all the other activiteis that North Idaho has to offer get us excited for the warm weather.  We didn't see much of a winter but the ski slopes still had plenty of snow and the real estate market was much better than it was last year.

I get lots of people asking what I think the market will do in the upcoming future.  This is a tough quesiton and I definately don't have a crystal ball.  What I can say, is that a lot of the indicators are looking good and I am always hoping for the best.  Sales numbers across the nation have increased and interest rates are helping more and more people afford homes.  The first time home buyer tax credit has helped with the increased sales volume but I have personally seen more high end homes selling and more inquiries coming in for commercial and vacant land than we have seen in the year past.

I believe there is a lot of pent up demand and a lot of investors who are watching for the bottom of the market.  We are seeing more foreclosure homes sell at auctions, and more investors taking advatage of the great deals and great interest rates.  This all leads me to believe that we are very near the bottom of this tough market.  There is still an excess of inventory and until we see the inventory levels decline we will not see prices go up.  It is always a good market for someone....right now it just happens to be better for buyers.

Feel free to write in with any comments or posts that you would like to be added to this blog.  Have a great day!

Jared McFarland