Only 2 Units Still Available At Luxurious Crescent Rim Condo’s

Perched on the rim, each of these stunning, one-of-a-kind residences are thoughtfully designed to provide a living experience that is as unique as its inhabitants. Crescent Rim is renowned for its carefully considered amenities intended to make life on the rim complete and carefree. Each residence offers all of the benefits of urban resort living. Lush gardens and water features overlook Boise’s premiere parks before revealing the growing, downtown Boise skyline. The foothills provide a stunning backdrop whether our treasured skyline is kissed by the setting sun or bathed in the evening moonlight.

Unit 107 & 205

The last two available units offer an unparalleled opportunity to live at an address that has always been associated with great character, charm, and elegance, an identity that continues to grow with each generation, and those fortunate enough to call it home. 

Unit 107 | 2 bedrooms, Office, 2-1/2 baths, 1,837 sq. ft. plus 237 sq. ft. deck | Offered for $825,000

A gorgeous curved wall of windows in the main living area draws your eye to the views of the fountains and the mountains beyond. The generous master suite includes a private deck and an enormous walk-in closet. The open concept living room and kitchen help to maximize the space. A full-sized utility room makes living a breeze. Live here in quiet, carefree comfort!

Unit 205 | 3 bedrooms, Office, Wine Room, 2-1/2 baths, 3,109 sq. ft. plus 408 Sq. Ft . deck | Offered for $1,695,000

This condo is simply beyond compare. The V plan offers incomparable views and living space. This is the only true 3-bedroom condo at Crescent Rim. Superior downtown views and an eastern orientation continue to set this beautifully designed condo apart. Upgraded features include a wine room and an enormous master walk-in closet with direct access to the laundry. The V takes its place as one of our five premiere view condos, perfectly perched on the second level with northeastern exposure.

Building Amenities & Features

  • Private guest suites available for overnight visitors
  • Views of downtown from a serene setting
  • Immediate proximity to Boise’s parks and greenbelt
  • Resident car service
  • Pool, hot tub, and professionally equipped gym
  • On-site service manager
  • Catering kitchen and patio BBQ
  • Clubroom
  • Flex space room
  • 24-hour video surveillance system

View crescentrim.com for more details.

Resale Homes Surge

Helped by a 67% increase in inventory compared to the end of April, May 2021 saw a 12% increase in the number of sold properties in Ada County over May 2020.  Properties sold increased despite inventory being less than half of what it was at the end of May 2020.

Even better news, most of the increase in inventory was caused by an increase in the availability of existing, not new, homes. Those can’t be manufactured; an increase in the inventory of existing homes depends upon the willingness of owners to part with their properties and move on.

During the past year, characterized by high demand and low inventory, average home prices sold in Ada County have increased by 21%; good for existing owners, but challenging for buyers. What a great time for sellers of existing homes! The price per square foot for existing homes sold in the past year was $229, roughly 6% higher than that of new homes ($216). Is this a once-in-a-lifetime opportunity for those who own homes in Ada County?

It might be.

To find out what your home is worth, contact your Group One Sotheby’s Realtor.

Spring Forward

The first 3 months of the year saw a reduction in same month sales; April changed that trend. Even though we had 74% fewer properties available, we sold 14% more units in April 2021 than we did in April 2020.  Pending contracts – contracts that are executed but not yet closed – were also up 16% over the end of last April, promising the continuation of a strong market.

Although the number of properties sold in the first 4 months this year were 3% lower than the comparable period of last year, the average price was an astounding 31% higher and the median price was 28% higher for sales during that period.

One surprising continuing trend is that the price per square foot of resale homes is about 6% higher than the price per square foot of new homes. Historically, new homes have sold for much more than resale homes.

As a reminder, our data includes sales not only of detached single-family homes, but also of condominiums, townhomes and homes on acreages, covering all the expanded choices buyers enjoy in our modern market.

The table below shows a breakdown of units sold as well as the percentage increase in average and median prices for each type of residential property sold during the first 4 months of 2021 compared to the same months in 2020:

Masterclasses from Sotheby’s International Realty®

Monthly masterclasses on a variety of topics that will help you get to the next level.

One of the greatest benefits of being part of the Sotheby’sInternational Realty network is the opportunity to learn directly from global leaders in the industry and the very best in the business – your peers.

Past classes available include:

  • Virtual Listings Presentations
  • Best Practices in Digital Marketing
  • Business Planning
  • Unlocking New Listings with Real Estate Reviews
  • Energy Management
  • Customer Relationship Manager

Enjoy this short preview.

Professional Quality Marketing Campaigns

Professional and memorable marketing campaign material set’s apart career real estate agents from ‘hobbyists’, and brings immediate credibility with potential sellers. Access to ‘Design Vault’ puts professional-grade media creation at the fingertips of every Group One Sotheby’s International Realty agent. Watch the video to learn more.

Sotheby’s International Realty® Design Vault brings professional-quality design to every agent.

Low Inventory Shapes Market

Repeating the pattern that began this January, sales in March were lower than last March because of severely limited inventory. With only a 9-day supply of available homes, buyers are competing with each other, pushing average prices up 16.6% over the last 12 months. Multiple buyers, escalation clauses and audacious offers have become regular stories in our residential market.

The supply of resale or existing properties is so limited that the price per square foot of existing properties has risen above the price per square foot of new homes, a phenomenon not seen in my 40 years in this market.

Anecdotal data reveals that many owners are holding on to their properties for fear of not being able to find a replacement property. 

The data below compares first-quarter results for the last 4 years of limited inventory during which time the average sold price has increased 49%.

Same Month Sales are Down

Same month sales – meaning sales this February compared to sales last February – are down once again, continuing the trend started last month. And it’s all due to lack of inventory.  

As you can see from the chart below, Ada County housing inventory at the end of last February was more than three times the amount of inventory at the end of this February, thereby limiting buyers’ choices, increasing competition among buyers,  and causing prices to increase more dramatically (the median sold price increased 14.8% over the last 12 months).

Another unusual recent trend that has continued is that the price per square foot of existing (resale) properties has exceeded the price per square foot of new homes, $211 compared to $205. We don’t remember this happening before.  This could create the opportunity to sell your 2500 square foot home and buy a 2500 square foot new home for a lower price!

Be sure to contact your Group One Sotheby’s International Realty agent to help you guide your decisions in this most unusual market.

Your Value Proposition and How to Articulate It

If you read the title of this article and rolled your eyes because it sounds pretentious, you’re not alone. Why do people come up with fancy terms to describe what amounts to everyday practices and procedures? Because sounding smart is what some people value! 🙂

Understanding what people value, and how your services provide that value, can help you be more effective in communicating to your clients (or potential clients) how you can meet their needs. 

Use the illustration below to think about the value you provide to someone looking to sell or buy a home, and then consider ways you might effectively articulate that value to your clients; past, present, and future. You may find that you never need to offer a discounted commission again.

from: The Elements of Value

Interesting Comparisons: 2019 & 2020 Ada County Real Estate

Our annual market summary for Ada County highlights some interesting and significant issues happening in the world of local residential real estate. In our report we offer side by side comparisons of statistics from year ending 2019 and 2020 for each MLS defined area. Learn which areas have increased the most in average price, which areas are most affordable over all, and get a glimpse of where the market may be heading in 2021.

Click the image to read the full report.

Significant issues of the year are:

that housing inventory (properties available to buy as of December 31st) has decreased
significantly,

that, in spite of the decrease in inventory, unit sales have increased, and

because of the limited inventory, prices have
increased by about 14%.

To dig even deeper, ask your Group One Sotheby’s  agent to give you more specific information regarding your own opportunities in this market as it evolves.

Wi-Fi and Printing if You’re In a Bind

Corona is just the latest in a series of trends that has redefined the landscape of office space for several industries, including real estate. While the days of large office spaces with a desk for every agent may be on the decline, having a place to meet with clients face-to-face and get business done is still important.

With that in mind, we’re pleased to announce our new temporary location in Eagle at 1675 E. Riverside Drive, Suite 100 (across from Taziki’s). We’ll be here until our new permanent location, currently in the planning and design phase, is done.

If you’re in a bind and need to get a document printed or need an internet connection ASAP, stop by and check out our new place. We’ll be happy to help.