Western Magic Valley Realtors

March 2023 Market Stats

https://idahorealtors.com/event/wednesday-webinar-2023-forms-preview/?instance_id=285

Here is you link!!!

Don't Forget to Vote Nov. 8th, 2022
The Idaho General election is November 8, 2022, which is just under two weeks away. If you haven’t done so recently, make sure to visit www.voteidaho.gov to utilize their voter tools. Using this website, you can check your voter record, find your polling location, confirm your voter registration, and even request an absentee ballot.
You can also register in person on election day, and the voteidaho.gov website has a calendar of dates, which outlines when early voting starts and other important deadlines.

Vote Idaho - Voting Information and Resources for Idaho Register to vote, find your polling place, request an absentee ballot, and more. The trusted resource for voting in Idaho.

Limelight condo fire destroys 26 homes in Ketchum
Saturday evening, 26 homes were lost after a structure fire broke out at Limelight Condominium in Ketchum. Officials are reporting no human casualties.
Want to help? Please see the information below.https://blainecf.networkforgood.com/projects/168828-limelight-condos-fire-victims-assistance-fund.

BRING YOUR GLOW and join us for the Western Magic Valley Sunset Safety Stroll on September 9th, 2022 at 7 PM on the CSI Campus in Twin Falls! Cost is $25 for ages 13 and up. Open to ALL AGES. Come run, walk, stroll, meander with your family and friends. Kids 12 and under are free. ALL PROCEEDS GO TO BENEFIT THE MAGIC VALLEY AREA QUICK RESPONDERS. Let's support those who are there for us when we need them!
Sign up today! https://wmvrealtors.regfox.com/sunset-safety-stroll or use the QR code.

Sunset Safety Stroll Online registration for Sunset Safety Stroll.

Update: National Weekly Housing Trends


For the first time in two years, weekly data show that homes are taking longer to sell than they did at this time last year. The increase in time on market is just another one of the increasingly common flags that the housing trends that prevailed over the last two years are squarely in the rearview mirror. Market activity is downshifting in response to high prices and rising mortgage rates that mean fewer than one of every four listings on Realtor.com is affordable to the household earning $75,000.

Although home prices have not retreated, they decelerated this week, providing another signal that the market has shifted. Homeowners may be noting these dynamics and responding. The market saw fewer homes newly listed for sale for a fourth week in a row. With fewer fresh listings coming up for sale, active for-sale inventory growth steadied. Shoppers today see 30% more homes for sale than at this time one year ago, the same improvement as last week.

Despite the challenges and opportunities for home shoppers in today’s market, the homeownership rate continued to climb in the second quarter. Meanwhile vacancy rates at or near record lows among both owned and rented homes will keep upward pressure on prices and rents.

Key Findings:
• The median listing price grew by 15.6% over last year. The typical asking price of for-sale homes was up from last year by double-digits for a 33rd week. Even though asking prices continue to climb, with the median hitting a new high of $450,000 in June, this week’s data shows a deceleration, or slowing rate of price growth, compared to last week. Growth in the median home listing price remains above the year-to-date average and well above what’s typical, but this deceleration is a sign of shifting balance in the market.
• New listings--a measure of sellers putting homes up for sale--were down 8% from one year ago. This week marks a fourth straight week of year over year declines in the number of new listings coming up for sale, suggesting that fewer homeowners are eager to list homes for sale in this rebalancing market. If sellers grow wary of participating in the market, that could slow the housing refresh, and buyers may see more of the same homes week to week rather than new options. Homeowners still on the fence about selling however should consider that with home equity at a record high, potential sellers remain in a fairly good position.
• Active inventory continued to grow, rising 30% above one year ago. The rate of improvement has stalled in recent weeks as the number of new listings dwindles, but the jump in active inventory does give today’s shoppers an extra home to consider for every 3 that were on the market at this time last year. Nevertheless, our June Housing Trends Report showed that the active listings count is not yet back to pre-pandemic levels, registering less than half its June 2019 level and just shy of two-thirds its June 2020 mark.
• Homes spent one extra day on the market compared to this time last year. This week’s data marks the first year-over-year increase in time on market in over two years, and more slowing could be ahead as the housing market resets. Time on market, like many of the housing indicators we track, signals the abrupt change the housing market has experienced as mortgage rates have climbed in 2022. As recently as February 2022, the Realtor.com Housing Trends report showed that homes sold more than two weeks faster than in the previous year. In the June Housing Trends Report homes spent 4 fewer days on the market than one year ago, and by late summer the monthly data is likely to show the increases in time on market that we’re beginning to see in the weekly data.

Not sure what to publish on your Page? Here are three quick ways to connect with others:

1. Publish a status update, photo or video.

2. Update your profile picture and cover photo, and fill out the About section completely.

3. Add a button so people can take an action, like book an appointment, directly from your Page.

3 Big Real Estate Myths

ROI under 100% = A Bad Remodel
It’s rare that a remodeled kitchen or bathroom will result in a complete return on investment, but that shouldn’t necessarily be a deterrent. What people don’t seem to factor into the equation is the fact that, until the day you sell your home, you’ll have the benefit of enjoying the remodel yourself! Let’s say that you get 75% ROI on a remodeled kitchen, but you got to enjoy that kitchen for a year before selling. I’d chalk that up to a win.

Swimming Pools Make It Harder to Sell a Home
No home is going to appeal to every market, but that’s not the point! The point is to find one perfect buyer. If swimming pools don’t appeal to older home buyers, such as empty nesters, then they’re simply not part of the market for that particular property. Families with young kids looking for a home to grow into, a pool could be a huge selling point, especially in warm climates. The point is, and this applies to all features, not just pools, unique features may cut down the number of potential buyers, but that’s ok; it only takes one.

New remodel, no need for an inspection
Some buyers are under the impression that, if a house was recently built or remodeled, it must have been done correctly, making an inspection unnecessary. This is simply untrue. At the end of the day, you can’t be too careful when making the biggest investment of your life. The exterior and surface may look great, but if the core of the home has issues, you need to know about it.

Housing Market Statistics for May 2022 in the Magic Valley.

Are you or someone you know looking to retire? Planning on downsizing from your current home? Retire Guide recently published a step-by-step guide to downsizing for seniors or those working towards retirement. Here we cover everything from finances and moving logistics to cope with the emotions that come from parting with a family home. https://www.retireguide.com/guides/downsizing-for-retirement/
If you are looking for an agent to assist you in buying or selling a home, check out our list of brokers here: https://wmvrealtors.com/wmvr-members/

A Seniors Guide to Downsizing For Retirement From decluttering, to moving to finding a new home — and all the financial considerations in-between — this guide explores what seniors need to know about downsizing for retirement.

Just a reminder that Tomorrow, May 17th, 22 is Primary Day for Voting! Go Vote!

Did you know there are over 400 youth in Twin Falls School District classified as HOMELESS?
Western Magic Valley REALTORS Association heard about it and took action. By calling upon our REALTOR members and Affiliates, the Homeless Youth drive in Twin Falls was successful!
Thank you for all the contributions and effort to support our local communities. We impact so much more than just home and property. We are a driving force for good in our communities!
Over 1000 rolls of toilet paper, 4126 laundry pods, 138 tubes of toothpaste, and so much more needed items as well. See the pictures from the delivery! Stay tuned for the next adventure in serving our communities.

That's Who We "R" ®
Heaven knows there have been enough unexpected these past couple of years.
Thank you REALTORS! for all you do for our Community!

The Unexpected (30-second Ad) The new 30-second TV commercial The Unexpected is part of NAR’s That’s Who We R 2022 ad campaign launch.

The Kiwanis Club of Twin Falls is hosting a candidate forum for the Office of Superintendent of Public Instruction on Thursday, April 7th. This event will be held at the Turf Club starting with a buffet lunch at 12 noon. The four statewide candidates have agreed to participate in this event. This is an opportunity for the candidates to demonstrate their approach to K-12 public education. The cost is $12 per person which includes the buffet lunch. Due to limited seating and scheduling, reservations and payment need to be made by March 28. To make your reservations call Nancy Schafer at (208)595-4988. Please plan to attend and become an informed voter.

That's Who We "R"

The Neighborhood (30-second Ad) The new 30-second TV commercial The Neighborhood is part of NAR’s That’s Who We R 2022 ad campaign launch.

February Market Stats!

Let’s dive into the one of the hottest parts of American real estate: second homes! This week's episode of Real Estate Today covers different types of second homes, investment properties, pending home sales, and more.

Listen here: http://ow.ly/lXiG50I4QCo

Check out NAR's Amazing Marketing. That's Who We R®

The Search (30-second Ad) The new 30-second TV commercial The Search is part of NAR’s That’s Who We R 2022 ad campaign launch.

REALTOR® : That's Who We R

The Right Thing (30-second Ad) The new 30-second TV commercial The Right Thing is part of NAR’s That’s Who We R 2022 ad campaign launch.

Did you hear that Western Magic Valley REALTORS® Generated $1,841.02 on their REALTOR® Ring Day on December 8th?
Special thanks to the Real Estate Offices that Participated!! 208 Real Estate/ Twin Falls, Re/Max Legacy, Coldwell Banker Distinctive Properties Twin Falls, Idaho, Gateway Real Estate, Legends Real Estate
Did you get Pics of the Ringers? Give credit where due. Tag them @

Home maintenance outside of the home is just as important as inside of the home! A poorly kept driveway can leave a bad impression according to REALTOR® Natalie Davis.

Make sure you do not forget about maintaining your home’s exterior. Listen: http://ow.ly/8Vt250HWIYX

Check out the Local Stats from January!

Don't Miss our on the February Luncheon!
Feb 8, 2022 @ 11:30 AM-1 PM
Our Speaker will be Jill Stone with an Idaho Real Estate Commission Update.

Our menu is Pasta Dish, House Salad, Green Beans, Breadsticks and Raspberry Mousse for dessert. 🍨

You will find the link to sign up in our email. :-) Hope to see you there!

Hello All!
Just a reminder that we have classes here at the Board Office this week. They are all available both on Zoom and Live.
NOTE: If you are a new REALTOR you need these classes in order to renew your license.
If you need CE Credits, you can knock out all 12 on Wednesday and Thursday!
Register now @ https://wmvrealtors.regfox.com/wmvr-continuing-education-classes-2022