Green Real Estate in Idaho

All evidence to the contrary, we are fast approaching “summer” which will bring with it some higher temperatures, at least we hope it will. While Boise and the Treasure Valley are not unbearable, it isn’t uncommon to see sustained summer temps in the high 80’s/mid 90’s. By my recollection we usually have a week in late July or early August where we regularly break 100 degrees as well. Thankfully, we’re situated in a high desert area, so even when it’s hot it’s still a dry heat. This is much more manageable in my humble opinion, humidity is bad, bad, bad.

Of course, even a dry heat needs to be regulated, especially to keep your home comfortable for yourself, your family, and any friends who may be stopping by. There are quite a few ways that you can improve your ability to cool your home in the heat of the summer. Many of these make great weekend projects if you are a do-it-yourself type. If getting your hands dirty isn’t your cup of tea, any handyman can make short work of these without breaking the bank.

Without further ado, let’s tear into the details so that you can get your home ready for summer!

* Think WHITE

– White paint, blinds, roofing tiles, etc. reflect heat away from your home. By adjusting your blinds in east-facing rooms in the morning and west-facing rooms in the afternoon you will help your home’s A/C function more efficiently.

– If you’re getting a new roof, consider white shingles. They look a little strange (most seem to be black/brown) but it will likely make a very noticeable difference in the indoor temps. Be sure to check with your HOA depending on where you live to ensure you’re not getting yourself into trouble down the road.

– Not a white item, but along with roofing, check your attic spaces for suitable insulation. Moving from 3″ to 12″ of attic insulation could cut cooling costs by up to 10%

* Move AIR

– Stagnant hot air is much less tolerable than moving hot air. While most designers seem to hate ceiling fans, they can be a great way to move air and make a room feel 5 to 7 degrees cooler. A power estimate I saw online puts the most power hungry fan, running 12 hours a day, at $10 or less per month for electricity.

– Can’t stand ceiling fans, consider a portable fan (available at any big-box or hardware store) that you can place strategically and remove when no longer needed.

– Summer mode for your ceiling fan should be pushing air downward.

* Don’t Generate HEAT

– Face it, it’s easier to maintain a pleasant indoor temp if you’re not generating an abundance of heat in the first place. Anymore we have so many gadgets and appliances plugged in that generate radiant heat constantly that it makes a serious impact on the temperature of your home, even when off.

– Keep appliances, lamps, or other “hot” items away from your thermostat. These items will convince the HVAC system that it needs to continue cooling due to the inflated temperature near the thermostat and increase wear on the system.

– Keep those lights off, where possible switch to compact fluorescent bulbs as they generate the same amount of light without nearly the heat and consume less energy.

– Try to avoid generating heat in the first place. The biggest culprits are likely going to be your oven and your dryer. Operating these appliances in the mid afternoon, when it’s already hot as the sun in your living room will make it that much harder for your A/C to maintain a comfortable temperature. Where possible, try to do the bulk of your drying in the morning when it’s still cool. Avoiding the oven in the afternoon can be tough, consider warming leftovers in the microwave or focus on salads, sandwiches and anything that won’t require major cooking if it’s really hot. Who wants a hot meal when it’s 100 degrees anyway?

* Landscape, Landscape, Landscape

– Landscaping around your A/C unit to provide shade (without blocking airflow) will help it operate more efficiently.

– Pergolas and trees that shad east-facing windows in the morning and west-facing windows in the afternoon will help to keep the heat outside in the first place. Face it, you’re going to plant things in the yard anyway… you might as well place them so that you get the maximum benefit for your $$.

Depending on how many projects you tackle, you should be able to make at least a small dent in your utility bills and make your home that much more comfortable at the same time. Seriously, there are better things for you to do with your money than sending it to the power company. An ounce of prevention is worth a pound of cure!

While you might not know that we’re already deep into spring time here in the Treasure Valley based on the weather, the calender doesn’t lie and neither does the bump we’re seeing in the market. Historically, the Treasure Valley real estate market is very cyclical with slower times in the late fall and winter months and a vigorous revitalization in the spring and summer which peaks in late July.

This year is no different, in fact early spring sales got a terrific shot in the arm with home buyers seeing the expiration of their tax credit incentives drawing to a close. The vast majority of home buyers taking advantage of this opportunity were focused on the $110,000 to $180,000 price points and they came out in droves before the end of April (2010) at which time they had to have an executed contract on their property of choice to qualify.

Some agents and analysts lament this activity and appear to anticipate a dramatic drop in activity post tax credit. While this opportunity for buyers did accelerate many first time buyer time lines I do not anticipate closings to plummet. Buyers late to the party will be closing throughout May and June. Individuals and families that are buying up or buying down were less likely to be affected by the tax credit and are more likely to be focused executing their move later this summer. While activity in the entry level housing market (sub $200,000) has probably peaked, sales will continue and likely we’ll see homes at higher price points coming under contract during the summer.

The issue that continues to plague this and every market is the amount of distressed property that must be absorbed. The number of distressed homes for sale, short sales or REO/Bank Owned, outnumber traditional resale and have for months. This continues to put downward pressure on prices. Prices have stabilized considerably but the “fire sale” pricing of short sale and REO homes will likely depress prices for the foreseeable future, at least the next several years.

Why will things continue for the next several years you may be asking… well, the reason is simple. Before the sweeping mortgage reforms, most home buyers opted for 3, 5, or 7 year ARMs meaning that in X number of years the fixed mortgage APR becomes adjustable. Since most homes purchased in the last 5+ years are now underwater these homes will likely wind up as future bank owned or short sale listings. Thankfully, interest rates continue to be at all time lows, realistically there is no way they will stay here for ever. I’m the first to admit that I am no financial guru, but to see rates at 6% or higher in the next 12 months doesn’t seem at all unrealistic. 6% is still a fantastic interest rate, but when buyers become used to 5% there will be a crunch when rates rise.

It will all work itself out. Bottom line is that prices are down, interest rates are fantastic, and the amount of home that your money will buy is downright incredible. While many sellers will not like what the market will support in the sale of their home, if they are buying up the returns (in the form of savings) can far outweigh them.

If you’re new to the valley and this is your first Winter you may find yourself wondering, “What is going on with the weather?”  Well, this eclectic back and forth between snow with a brief transition to slush and then warming just enough to melt it all away is fairly typical.  While our snowfall this season, at least this December, was the second snowiest on record, this come and go is the norm here in the heart of the valley.

The benefits of the crazyness are that we typically have the opportunity to enjoy winter activities like sledding, snowman building, snowball fights, snow angels etc. without being completely snowed in with 10′ of paralizin, life halting conditions that some areas are saddled with year after year. Within a few days, or sometimes by the end of the day, its warmed enough that the roads are clear and it’s smooth sailing.  Another perk of living in the valley is that we are within a quick drive of winter activities that require a bit more snow.  With 3 resorts within just a few hours, and one just 30 minutes from downtown there is always great skiing to be found without having to pack the family up and going on a major outing.  Of course, if you would like to get out of town for a bit it’s a quick drive to McCall, Tamarack, or Sun Valley resorts.

Today we’re a little overcast with no snow to speak of, except that which has been piled in parking lots or lawns from recent shoveling.  We’re expecting the daytime high to be flirting with 50 and should be holding steady there for the better part of the week.  It’s a great time to be planning a trip to see the Treasure Valley and see for yourself how great life can be.  There is something to be said for Boise as we continue to grow and incorporate many of the benefits of “big city living” while avoiding many of the pitfalls.  If you’re considering a move and have plans to visit let me know.  I’m happy to help make sure your stay is fantastic with recomendations from where to say and what to see and do while you’re here!