If you are looking for a home town atmosphere with a small population that has a little over two thousand smiling and friendly people in Idaho, look towards Malad City (also commonly known as just: Malad) in Idaho.
Malad is one of the oldest communities in the entire state of Idaho and has the oldest department store in the entire state. Evan Coop opened up in 1865 and it’s still in business today! Malad also boasts the longest running newspaper in all of Idaho. “The Idaho Enterprise” published its very first issue in June of 1879.
Malad is the Oneida County seat with a community that is nestled on the east side of Malad Valley. The population is just a little over 2,000 making it very easy to know most everyone in town after a while. Always greeted with a smile and a wave, this type of small town feel makes Malad a very sought after town. It has grown quite well for the last 5 years.
Malad City, Idaho allows one to escape big city life and gives a real feel of the country life allowing people to experience both the serene atmosphere and fun the small town has to offer. It’s interesting, some of the happiest people in the area are not from here. They’re formerly from a large city like San Francisco, New York, Houston, and Las Vegas. They’ve found that Malad City, Idaho real estate does provide a better way of living.
If you are a fan of fishing you will love Malad. Oneida County boasts 7 reservoirs and fishing can be enjoyed all year round. Trout and Kokanee Salmon are among the several different species of fish you will find within these reservoirs.
Malad is not just about fishing. Water skiing, jet skiing, boating, canoeing, kayaking and swimming are among the water sports enjoyed by the sports enthusiast. Land lovers will enjoy miles of trails accessible by foot, horseback and all-terrain vehicles. Camping is a big favorite among the tourists as well as the locals of Malad. You are never without something to do in Malad.
In the early 2000s, Idaho started becoming a very tempting area for investment as the prices of the properties where not as high as compared to other states. Malad real estate has gone through a real estate boom with more and more people settling down here, making it a very good option for investment still as it still very affordable as compared to other areas. One must keep in mind that some appreciation in the property prices is definitely a good sign.
Things to Consider While Investing in Malad Real Estate
It was the year 2008 when Malad started to see an increase in the buyers’ market initially due to Idaho short sales and foreclosures. There was a time when people eagerly waited for the property prices to fall even further due to these foreclosure and short sales. The realtors were advising their clients to wait for the property prices to drop and reach its lowest. The media made speculation as well and advised prospective buyers to wait for the bottom to fall out. Real estate markets can never be predicted with 100% certainty therefore, the people who waited for a further drop in prices lost out on a golden opportunity but people that were savvy and new when to jump in are today enjoying their investment. Consider getting yourself a good real estate agent who knows the area. There are a lot of tips on how to find a good real estate agent in Malad. We can help.
There are many reasons for low prices in real estate. Many times a seller is ready to go and will accept an offer even if he knows that it’s not the best price for his property. Sometimes due to negative sentiments of the market, sellers do not want to wait and agree on a low offer. Sometimes the seller needs quick money as he has to invest it somewhere else where he sees more potential and sometimes he may be too scared of the market conditions. If this happens then the low closing price affects the rest of the market. Now other comparable homes in the area may need to conform to the new lower price therefore shifting the market rates.
Tips for Buyers
- Take time to do some research – Doing your research is good and taking time to make decisions so you are not rushed into making an offer is imperative. Take time to ask questions, talk with the inspectors, your real estate agent and any other professionals involved in the purchase before you make your initial offer. Understand all the risks, how to get out of an offer if you get cold feet, and what your obligations and duties as a home buyer are all before any money is exchanged. Strategically, it is not always wise to wait for spring or summer, because you might be flooded with too many choices. These choices may start to confuse you and frustrate you. Summer and spring are when property prices are its highest. Keep this in mind when you are making a decision as to when you start looking for a home. It might be beneficial to wait for the fall and winter months.
- Consider a good mortgage with low interest rates – There are very few buyers who can actually afford a 100% cash down payment, in fact it is not even wise to go in for a 100% cash down payment. What are the other options? The other option and the most widely used option are to look for a mortgage. The mortgage amount depends on several factors such as the kind of property you want to invest in, the amount of down payment, your financial status and the interest rate. Various lenders have different terms and conditions which might sound similar but when thoroughly read upon can make a huge difference. Therefore make sure you interview several mortgage companies and try to work with the one who provides the lowest interest rate.
- Being open minded on the choice of properties – Try to be as flexible as possible without sacrificing too much of your wants and needs, if you find that buying a new home may cost more than you originally anticipated then you may need to broaden your search to resale homes too. Perhaps a fairly new resale home might be suitable and save you thousands. Even renovating an older home may be beneficial to you as well. Opening up your options widens your chance of getting a good deal. You’ll find quite a myriad of different homes and property types through out Malad Valley.
Tips for Sellers
- Decide on a list price for your property-Prices for Malad real estate are expected to rise at a steady pace of 2-3% a year, therefore it is wise to see when exactly you would like to market your property and at what price. Before you decide on a price it is a good idea to get a comparative market analysis of your property to find out its worth in the current market. Many real estate agents provide free of cost advice on how to increase the value of your property. For example, by upgrading a out of date kitchen the worth of the property will increase. Improving the exterior also helps attract more buyers as the first impression is always made on the exterior of the home. If your property is located close to transportation, local schools and emergency facilities then it is bound to increase the value of the home. Try to remember when you first bought the house, what was it about the home that made you want to buy it. Figure those things out and make sure those things are still appealing today.
- Improve value by DIY improvements-If you are short on funds to hire someone to update your home, think about doing some home improvements yourself. A fresh can of paint on all walls in the dining room, living room and bed rooms will go a long way. Spending money on updating your appliances especially in the kitchen will automatically increase your homes’ value. If you are handy, look around the house for anything that may need to be repaired or replaced. It’s amazing what can be done with a little bit of elbow grease and some ingenuity.
- Advertising online-Today more than ever people looking to invest in real estate generally research on the web before contacting any property agent personally. Buyers in general are much more savvy shoppers in the 21st century, doing their own analysis, price comparisons and research, and the home buying process is no different. Buyers get a fair idea about the market, they see which property agent is marketing which property so if they want to inquire further they simply send an email pick up the phone to inquire further. So, with this being said, it is evident that a real estate agency with a strong web presence would have a higher advantage over an agency that was not found on the internet.
- Going the extra mile– Make sure you line yourself up with a real estate agency that doesn’t mind going above and beyond your expectations in order to get your home sold for you. Besides your standard procedure of placing a home on the local Multiple Listing Service, your assigned agency should be placing your home on the major home websites, their own website, print ads in homes magazines, holding open houses, alerting your neighbors of your house going up for sale, holding brokers opens and so much more. Make sure professional flyers are created for placement inside the home as well as in an informational box placed outside the home for people passing by that may not be ready to talk to an agent but want information on the home. Pictures, videos, virtual tours, etc. are all important marketing tools that must be utilized to get the most exposure to your home.
- Communication-There are various modes of communication and a responsible Malad real estate agency will know this, as it’s only through communication that they can become the link between a buyer and seller. Office phone, cell phone, fax, email, texting are all examples of each way an agent should make themselves accessible to not only you but of course to the buying community.
- Experience, Ethics and Professionalism-Before making a final decision on who to work with for your Malad real estate transaction, make sure you feel you can trust the person you choose, look for someone with a strong team if possible who is willing to divide the work responsibilities and tasks to orchestrate finding a buyer faster and make the closing process run smoother.
By keeping in mind a few of the things mentioned here in this article, doing your research and surrounding yourself by experienced professionals, your Malad real estate transaction can be a truly rewarding experience.
Allow Mountain Valley Realty to be your real estate agency of choice. We’re from here. We grew up here. It’s safe to say that we know Malad and surrounding areas better than any others. Learn more about us here. As always – give us a call any time of day and we’ll be ready to help.