Entries in Hibbard Construction Boise Idaho Home Builder (5)

Monday
Jan042016

Our most current completed custom home

A newly completed Hibbard Home

This is a beatiful yet unique custom home we just completed in Caldwell. It is a 4 bedroom, 3 bathroom home with over 2700 sq. feet.

This home boasts a spacious reception room, great room with fireplace, an amazing surround sound system, a library, and details that make this home truly a custom design.

Thank you to the Hibbard Team for another beautiful home completed!

 

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Monday
Jan042016

Design Ideas for 2016

Home Design Trends for 2016

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The world of art, fashion and interior design is so rich of ideas inspired by everything beautiful and appealing in nature, history etc. Every fashion season is influenced by different trends that enrich the concepts of designers and give us awesome ideas of how to bring more beauty in our lives.

There are many factors that affect the changes and trends in interior design every year. Artists and designers from all over the world share their expectations and forecasts for the trends in fashion and interior décor for a year ahead.

The first months of the next year will be inspired by the Nordic nature. Expert designers predict that concepts will include frosty colors, such as icy blue, cold white, and dark green. The expectations for the main colors that will influence interior design concepts in the first half of 2016 suggest red undertones, purples and pinks. Designers will combine the browns with deep blues and cool greys.

The nature will be a great inspiration for interior design ideas for 2016. Designers present concepts enriched with influence of tropical nature with orchids, butterflies etc. One of the most interesting trends that we can see in concepts of designers for 2016 is the underwater world. Don’t be surprised to see more elements and ornaments inspired by clams and fish and the colors of corals. The usage of bright colors is expected to grow in 2016. Designers will blend different materials in the concepts and colors of signal red and “poisonous lime.” The vintage topic will be part of the interior design world in 2016. Designers will include more copper, oxidized metals and bronze in their projects for home décor.

Thursday
Mar062014

Then and Now

Do you remember what it was like in Idaho back in 2006?  It was a much gentler time, but Idaho was making headlines even back then.  Our distinct four seasons that accommodate year round recreational opportunities, low crime rate, low cost of living, good tech jobs and robust agriculture offered a great place to raise a family.  The secret was out and there was a housing boom that was sweeping the nation.  We saw an influx of families moving to the Treasure Valley and overnight throwing Idaho’s housing market into overdrive!

We thought it would be interesting to share a comparison of then and now to give you an idea of how Idaho’s current housing market is really doing.  Comparing 11 key categories from July 2006 and July 2013, gives a clear picture of just how far we’ve come since the market bottomed in 2008. 

Take a look at the following stats from Ada County:

 

July 2006

Ada County Stats

July 2013

Difference

4,087

Total Active Residential Listings

2,369

1718

917

Total Single Family Homes Sold

883

34

$279,391

Average Price

$239,194

$40,197

25

Days on Market

44

19

$256,201,859

Total Dollar Volume Sold

$211,208,286

$44,993,573

2,346

Existing Residential Listings

1,796

550

593

Existing Homes Sold

718

125

$261,896

Average Price of Existing Homes Sold

$229,680

32,216

1,741

Newly Constructed Residential Listings

573

1,168

324

Newly Constructed Homes Sold

165

159

$312,045

Average Price of New Homes Sold

$280,596

$31,449

 

It is evident from the table above that the total active listings are 43 % less than what they were in 2006.  This is what is termed as our “inventory”, what is listed for sale.  But, look at the total number of single family homes that sold.  We are only off by 34 units.  It’s economics 101, the law of supply and demand. 

Our low inventory levels, coupled with the high demand for single family homes are what are driving housing prices higher.  Add to that the following:

All of these factors will continue to drive housing prices up.  Experts do not expect to see the same housing prices we saw in 2006, but it sure looks like we are not too far off.  Right now we have a mixed market (buyer and seller’s) in Idaho.  If this trend of low inventory continues, we could very well see the market moving towards a seller’s market.

One thing is for certain.  2014 will be a very interesting year for Idaho’s housing market.  If interest rates remain low, and word on the street is they will, you can expect new home construction to really take off.  If you’ve had a hard time finding your perfect home, it just might be the most opportune time to start the building process and find yourself a reputable builder!

Thursday
Mar062014

From the Builder: Making Headlines!

Greetings!

Here we are, well into the first quarter of 2014 and early housing reports are saying we should expect good things for Southwestern Idaho and the Treasure Valley area housing markets.  As Boise continues to make the “Top 10” lists for a variety of reasons and our local economy is recognized as one of the top five leading the national recovery, experts predict a very robust 2014 is in store for us! 

Take for instance the numerous top 10 lists the Boise area has appeared in recently:  RE/MAX listed the Boise Real Estate market has having THE highest sales increase in the nation.  Forbes listed Boise as one of the fastest growing cities AND one of the top cities to retire in 2014.  And, let’s not forget to mention that our unemployment rate has been steadily decreasing and has landed Idaho with a 15th lowest unemployment rate in the nation with a rate of 5.7%.

With all the recent buzz about our great state, there are still a few caveats.  Some of then will drive home values higher and some will make it difficult for new construction type projects.  Land and available lots are in short supply.  Low inventory is holding back sales while at the same time pushing up home prices.  More new home construction is needed to help relieve the inventory pressure and moderate price gains. 

What does this mean?  It’s a mixed market with mostly good news.  Folks who were underwater in their mortgages are finally seeing appreciation in their property value.  If they have needed to sell in order to upgrade or purchase a larger home, they can finally do it without losing money.  However, with inventory so low, finding that “perfect home” has become more difficult.  This leaves many homebuyers with their only option to build new.  But, with land and lots in short supply, many homebuyers are having a difficult time finding suitable land or a lot in the area they desire. 

The good news is that we are not in another “bubble” but demand is on the rise.  We will continue to see property values appreciate in 2014; Also, with interest rates still low and home values increasing, it is both a buyer and seller’s market! 

Jeff

Tuesday
Mar262013

From the Builder - March 2013

Spring Greetings!

We are anxious to see the warmer weather return and are excited about the housing market upturn we are expected to experience this spring.  All reports indicate that we are now in a full-fledged housing recovery and home prices will continue to rise.

We are hearing that there is a shortage on building lots and acreage and land that may have folks wanting to build left searching for that perfect piece of earth to build their dream home.  We are seeing building take off in the outer lying areas of the Treasure Valley in places like Melba, New Plymouth and Sand Hollow.

Spring time is definitely the buying and selling season and most realtors are telling us it is a seller’s market.  Inventory levels are at an all time low and bidding wars are not uncommon.  With conditions like these, home prices have no other direction to go other than up!  It is economics 101 and the law of supply and demand.  If you have been reluctant to sell because of home prices or holding out to build because of appraisal values, now might be the perfect time to resurrect your plans and talk to a realtor or builder.

Sincerely,

Jeff Hibbard