March 2025
Looking at our situation locally here in Southwest Idaho (Boise Metro), we might be in a once in a generation perfect moment for new projects to develop and single/small-multi rentals.
When you look at the next couple of months:
-we have a higher inventory than we've seen in a while (up 12% yoy)
-a lot of buyers waiting on the sidelines for lower interest rates
-housing starts are down 60% over the last 2 years as interest rates cut MFA permits by 93%
-growth to medium sized cities has continued post covid with an average of 25000 people moving to our valley every year
-Steep income growth (Idaho has the 4th fastest growing family incomes in the country) from $69k to $91k in 3 years.
-Re-zoning Boise with +/-50% increase in density
-Stock market returns have soured since the election and the turmoil of a Trump presidency is keeping investors on the sidelines.
What I am telling my clients is that before the spring rush this year, January and February may be the best possible time to buy in a long time.
We are looking for small multi-family opportunities, infill lots and financial partners to create housing and take advantage of this timing opportunity.
What are you looking for in 2025? Where do you see opportunities in your local markets?
- Robert
Understanding Interest Rates: What They Mean for Idaho Homebuyers
If you're thinking about buying a home in Idaho, you've likely heard a lot about interest rates. But what do they really mean for the average homebuyer? Understanding how interest rates work can help you make informed decisions about when to buy, what you can afford, and how much you'll pay over the life of your loan.
An interest rate is the cost of borrowing money, expressed as a percentage. When you take out a mortgage, your lender charges interest on the amount you borrow. The rate you receive depends on factors like the economy, inflation, and your personal financial profile (such as credit score and debt-to-income ratio).
Interest rates have a direct impact on your monthly mortgage payment. When rates are low, borrowing is more affordable, meaning lower monthly payments and less paid in interest over time. When rates are high, it becomes more expensive to borrow, increasing your monthly payment and the total cost of your loan.
For example, let’s say you’re buying a $400,000 home with a 30-year fixed mortgage:
Several factors influence mortgage interest rates, including:
The decision to buy a home isn’t just about interest rates—it’s about your personal financial situation and long-term goals. While rates may fluctuate, locking in a rate that fits your budget and lifestyle is key.
If you're considering buying in Idaho, working with a knowledgeable local lender and real estate agent can help you navigate market conditions and secure the best deal for your needs.
Although personally, I have always liked the adage "Don't wait to buy real estate, buy real estate and WAIT"
Have questions about buying a home? Reach out today—we’d love to help!
-Tracy
We have an exciting announcement! Our second First time home buyers class has been scheduled and we would LOVE to see you there. Put on by our own Joey!
Every quarter, the Boise TurnKey team selects a business or mindset book to study. We meet weekly to discuss concepts from these books that apply to our position in the company. We reflect on lessons we can take away to improve the experiences of our clients, residents, and ourselves. We’ve read a lot of great content over the years- sharpening our communication and negotiation skills on how to Never Split the Difference (Chris Voss), becoming more flexible and resilient through Shift (Keller, Jenks and Papasan), or implementing tiny changes consistently to achieve remarkable results through Atomic Habits (James Clear).
This last quarter, with the intent to mindfully focus on the experience we offer those we work with, we chose to read Unreasonable Hospitality by Will Guidara. With a little bit of skepticism at first (what can we, in Real Estate, actually learn from a restaurateur in Manhattan), we embarked on a deep dive into the land of how to outperform people’s expectations, or create meaningful personalized experiences for our clients and residents. Overall, the team satisfaction with the book choice, topics presented, and perspective was very high- we would recommend this book to others! Some things that stood out to us, though, were the following quotes and concepts.
Tracy Ross brought up the following quote as her most influential take-away: “The way you do one thing is the way you do everything, and we found, over and over, that precision in the smallest of details translated to precision in bigger ones.” She shared that this stands out to her (as the Team’s Transactionologist), “because all the little things you do matter in one big conglomerate of the deal. Attention to all the minutia is actually incredibly important.” These little details add up and, in fact, compound to create the overall experience someone has with our company. Ensuring that we use consistent procedure and protocol will reinforce a quality standard. How we answer the phone for one person is how we should answer the phone for everyone. A warm, welcoming smile you can hear through the receiver goes a long way, whether you are calling with a problem, a question, or a concern.
A curious quote that Molly John, the GM for property management, brought up (one that at first didn’t appear to settle right across the entire team) was that, "Hospitality and excellence. Those two concepts? They are not friends." Why would Guidara write this, since both hospitality and excellence are positive traits- how can they not be chums? Molly felt that divide keenly by asserting that, “hospitality is intentional and welcoming,” and would keep clients and residents coming back for more, or referring our services to others. Excellence, on the other hand, speaks more to quality and consistency- keeping standards high and expectations across team members consistent.
A final quote to leave you with can be found very early in the book. This was a personal favorite! “Service is Black and White; Hospitality is Color.” This statement alone has driven Boise TurnKey to create a new company title: Hospitality Concierge! Taylor Witmer has happily taken on this role for our business- and will enhance her current position as “Doctor of Resident Relations.” We’ve created company goals around hospitality for all folks we interact with, including increased requests for surveys to measure satisfaction, acknowledging vendors for outstanding service, personalized thank yous and small gifts for clients and residents, etc. Further, we have begun to report on a standing weekly SMART goal of “making someone’s day no less than 3 times per week.” This metric provides both a bit of whimsy, but also supplies the team with a valuable mindset as we approach each day.
So, dear reader, do you fancy picking up a copy of Unreasonable Hospitality, or plan to add it to your queue? Regardless, I challenge you to look for ways to add a bit of “color” to your interactions. If nothing else, it creates a way to have fun and gamify your daily routine. Also, we genuinely hope you feel our efforts as we interact with you going forward! Here’s to creating an “unreasonable,” rainbow filled real estate experience!
-Heather
Joey's deep-rooted passion for real estate comes from growing up in a construction family, working several years as an operations technician at a camp facility, and honing his skills in live-in flipping. This background has equipped him with a keen eye and a creative mind for uncovering hidden value within promising investment opportunities. Holding a master's degree in higher education, Joey combines academic prowess with professional expertise, displaying both a passion for education and a commitment to instilling confidence in his clients throughout the real estate transaction process. Joey's commitment to hard work and a client-centric approach aligns perfectly with the Aloha spirit he carries with him wherever he goes being born and raised in Hawaii. Beyond the world of real estate and his exploration of the coffee scene throughout the Treasure Valley, Joey's interests include various outdoor activities, playing pick-up soccer, nerding out in video games with friends, and constantly researching his next DIY project.
Boise TurnKey recently sponsored a table at the fundraising even to benefit Camp River Run! Aside from being a great night out, the team was able to raise funds for this wonderful summer camp. They offer outdoor camping experiences for youth who are battling medical conditions, that would not otherwise be able to enjoy. For more info on their cause, please check out https://campriverrun.org/
3/5 House of Wine Flight Night
3/5 Boise Book Celebration
3/6 Vintage Vibes Pop- Up Market - Treefort Music Hall
3/7 Boise Roadster Show
3/7 Watercolor Workshop
3/7 Stuffed Animal Sleep over at Rediscover Books
3/8 Eat Drink and Shop Market
3/8 Oregon Trail Travelers - Idaho State Museum
3/8 Illumibrate at Jump
3/12 Caldwell Culinary week
3/12 Grown up book fair
3/13 Community appreciation day - Children's Museum of Idaho
3/14 March Paint and Sip - Victory Gardens
3/15 2c wildwest Spring Fest
3/16 The Crush Collective Wedding Expo
3/19 What’s the Influence? Oak edition with House of Wine
3/22 Eat Drink Shop Market
3/26 Food Fort
3/27 Treefort Music Fest
3/27 Food Fort - Street Eats
3/29 Idaho Artistry in wood
3/29 Cars and Coffee3/29 Something Pink is Coming
In Other News
This one is EASY. I can’t understate how easy it is. Serves four, easily doubled and pairs with classic sides such as mashed potatoes, your choice of vegetables, egg noodles, biscuits, your favorite bread, or over rice
- Taylor
You will need:
2 Chicken Breasts
2 packets of chicken gravy mix
2 cups of chicken broth
1 can of cream of chicken with herbs
½ teaspoon Salt
½ teaspoon Pepper
½ Tablespoon Paprika
1 tablespoon Italian Seasoning
- Arrange your chicken breasts in your crockpot and season with salt, pepper, Italian seasoning, and paprika
- spread cream of chicken with herbs evenly over the top
-In a small bowl, combine your chicken broth and chicken gravy and stir to combine, then pour over the top of the chicken
-pop the lid on, set your crockpot to low, and let it cook for 4-5 hours
-Once fully cooked through and with no pink remains, shred the chicken and serve!
We are a diverse team of real estate professionals who love to serve investors and clients with personal properties in Boise, Idaho and beyond. Boise Turnkey Properties Brokered by Exp.