North Idaho Janna

From LA Times to the Lake City - LA Times Spotlights Coeur d'Alene in Sunday's Travel Section

This past Sunday there was a wonderful write-up in the Los Angeles Times about the wonders of Coeur d'Alene as a vacation destination.  Reporter Christopher Reynolds spent some time in town and wrote a delightful feature on our little part of the world.  I loved his introduction -

"Say yes to huckleberries, yes to lazy days by the lake, yes to fast bikes on long trails.

Say no to fancy French pronunciation. Say no, also, to white supremacy. And say no, thank you, to the Rocky Mountain oysters at the Snake Pit restaurant east of town, unless you like bull testicles.

Follow this simple advice, and you'll probably do just fine here in the middle of the Idaho panhandle, where the lakeside city of Coeur d'Alene (pronounced core-DA-lane) draws travelers and second-homers from all over the West."

I loved growing up here, running amok in, on and around the lake in our little obscure tourist town.  It was a paradise. Good-bye, obscurity. The cat's been out of the bag for a long time, in a large part due to publicity like this LA Times article and frequent placement on a myriad of Best Of lists. 

There is a noticeable segment of our friendly population that are California transplants.  This article is certain to garner more attention from potential California escapees. Not everyone here is thrilled to welcome the slow and steady influx of new neighbors, but most do recognize the benefits that the newcomers bring with them.  As for me - my mom and dad loaded up five kids in the station wagon and fled southern California for beautiful Coeur d'Alene in 1965.  Thanks mom and dad!

As a tourist town in a sluggish economy, things are not quite booming, but around town folks are saying that the decline isn't much, maybe 2%.  Hotels and tourist attractions are seeing a big increase in regional tourists from around the pacific northwest.  Families are taking vacations closer to home, to destinations where they can reach by car on a day's drive.  For anyone considering purchasing a vacation home, there are more waterfront homes for sale right now on area lakes than anyone can ever remember.  It doesn't take a rocket scientist to know that slow moving + high inventory = incredible bargains.

To read the entire Los Angeles Times article, click here.  It's a great article and paints a very pretty, and accurate, picture of the reasons why I feel so blessed to call north Idaho home!

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  

Today our nation pays tribute veterans who fought for freedom in the Korean War.  The presidential proclamation that follows marks today, July 27, 2009, as NATIONAL KOREAN WAR VETERANS ARMISTICE DAY.  

My dad, Ronald D. Rankin, was a proud Marine, a Korean War veteran and survivor of the epic Battle of Chosin Reservoir.  To quote B. L. Kortegarard in his writings of the Battle of Chosin,

"...the fighting withdrawal of the 1st Marine Division was one of the proudest actions in the history of the entire Marine Corps. More, it shows what all Americans are capable of, when properly trained for combat, and properly led." 

This photo of my dad was taken when he was 20 years old.  He survived to live a life of service. His tireless efforts on behalf of veterans culminated in the Kootenai County Ronald D. Rankin Veteran's Memorial Plaza.  Semper Fi, daddy.

NATIONAL KOREAN WAR VETERANS ARMISTICE DAY, 2009
- - - - - - -
BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

Fifty-six years after the signing of the Military Armistice Agreement at Panmunjom, Americans remain grateful for the courage and sacrifice of our Korean War veterans. More than 600,000 United States and allied combatants lost their lives in Korea during the 3 years of bitter warfare that ended on July 27, 1953. Many were also injured, taken as prisoners of war, and missing in action. These dedicated servicemen and women, under the banner of the United Nations, fought to secure the blessings of freedom and democracy on the Korean Peninsula, and they deserve our unending respect and gratitude.

Every day we are reminded of the selfless service of these veterans. The Korean War Veterans Memorial stands in our Nation's Capital as an enduring tribute to them. Marching among juniper bushes and rows of granite, Soldiers, Marines, Sailors, Airmen, and Coast Guardsmen silently remind all who glimpse their faces of the great challenges that so many Americans overcame. The strong partnership between the United States and the Republic of Korea is also a proud testament to our men and women in uniform.

Today we remember and honor the valor of Korean War veterans and the extraordinary sacrifices that they and their families made in the cause of peace.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim July 27, 2009, as National Korean War Veterans Armistice Day. I call upon all Americans to observe this day with appropriate ceremonies and activities that honor and give thanks to our distinguished Korean War veterans. I also ask Federal departments and agencies and interested groups, organizations, and individuals to fly the flag of the United States at half-staff on July 27, 2009, in memory of the Americans who died as a result of their service in Korea.

IN WITNESS WHEREOF, I have hereunto set my hand this twenty-fourth day of July, in the year of our Lord two thousand nine, and of the Independence of the United States of America the two hundred and thirty-fourth.

BARACK OBAMA

Waterfront Homes for Sale on Hayden Lake - One Realtor's Beautiful Evening

I had an opportunity to spend a few hours last evening showing waterfront homes for sale on Hayden Lake with a delightful couple from Spokane.  I couldn't resist snapping a few photos of some of the "back yards" at the homes we viewed. It was a beautiful day for a pleasant drive around beautiful Hayden Lake, and I got to call it WORK! 

Here is a list of all Hayden Lake Waterfront Homes for Sale that is automatically updated daily with new listings and status changes.  Enjoy! 

Don't hesitate to call if you would like a personal tour of any of these or any other homes for sale in beautiful North Idaho!

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com 

Coeur d'Alene's Roger's Ice Cream ReOpens - A Blast From the Past!

I'm not sure how long Roger's Ice Cream sat closed and for sale, except that it has been the entire time since I moved back to Coeur d'Alene last August.  Back in the early '70s, about 1972, it was where I earned my spending money after school at the newly increased minimum wage of $1.60 an hour.  At that time, it was Dari Delite. My first job, at the now non-existent Green Dolphin Floating Restaurant on the east end of Lake Coeur d'Alene, paid a measly $1.40.  $1.60 was SO MUCH MORE!

Last month, a buyer surfaced, paid $350,000 and a few weeks ago Roger's Ice Cream opened again.  Click here for the MLS information sheet.  My husband and I stopped by for a closer look and to sample their menu.  No more DD Bars or Big D burgers.  While Rick dug into a hand scooped ice cream treat, I sunk my teeth into the best turkey burger I have ever eaten! 

When I was a teenager, working at Dari Delite for Tom and Peggy Smith, I would get a glimpse of the action on Sherman, our town's main cruising drag, through the pass through window.  On really GOOD days, I would see that cute Canadian boy that had stolen my heart standing in the line.  For old times sake, we snapped pictures the other day.  A blast from the past.  It was 37 summers ago that Rick and I first looked at each other from this vantage point.  We all look a little different now - me, Rick and Dari Delite - but the good time just keep rolling along! 

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  

I had a chance to cruise across Lake Coeur d'Alene aboard the Osprey, one of the cruise boats out of the Coeur d'Alene Resort.  The destination was Campfire USA Inland Northwest Council's beautiful Camp Sweyolaken.  Camp Sweyolakan sits on nearly 300 beautiful wooded acres on the shores of Mica Bay. One of the oldest resident camps in the country, Camp Sweyolakan has been a summer haven for generations of young people for over 85 years.  The camp is reaching out for community support for Operation Royal Flush, a project to replace the 50 year old bathroom facilities.  Yes, the toilets and showers are FIFTY YEARS OLD! You may find more modern bathroom facilities at other camps, but you could search the world over and not find a more lovely and serene camp setting.

It was a beautiful, sunshiny day on the lake.  All of the best of why I love living and selling real estate in beautiful North Idaho!  Here are a few of the sights in my path as we sailed south, before the batteries died on my camera.... 

Captain Harry at the helm:

Happy people enjoying life:

Gozzer Ranch Golf and Lake Club on the ridge:

I think I toured this beautiful home in Harbor View Estates at an open house a couple of weeks ago.  Can't be sure, it certainly looks different from this angle:

 Camp Sweyolaken:

More happy people having fun on North Idaho's beautiful Lake Coeur d'Alene!

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com 

Hayden Lake Idaho Waterfront Homes For Sale - I spent a pleasant July afternoon at this lovely Hayden Lake waterfront home of friends Bruce and Nancy Erickson.  North Idaho is such  a beautiful place and I am blessed to call it home!

The Erickson's spectacular home is for sale, so conversation naturally turned to real estate.  And in particular, waterfront properties on Hayden Lake.  I did a little research when I got home for fun and here is what I found.

As of today there are 53 active waterfront properties listed for sale on Hayden Lake.  Least expensive is a 535 sq ft cabin for $209,000.  Most expensive is a 6524 sq ft home for $3,950,000. 

Click here if you would like to take a look at details on all 53 properties.  The site will update daily to add any new listings, price adjustments, or status changes.  The link will remain active until August 18.  There are some great deals right now, because buyers are scarce and most homeowners are pricing their homes appropriately for a slow market.  Erickson's home is #52 on this list, and truly spectacular.  Theirs is a case where the photos just don't do it justice.  And good news - they are expecting an offer this week!

Please give me a call today if you would like to take a personal tour of any of these beautiful Hayden Lake waterfront homes.  

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com 

As a Coeur d'Alene Realtor involved in Short Sales I wasn't too surprised to find this question in my Email inbox this week:

What does a Realtor do in cases of short sales?  I have been thinking about this for a while and was hoping you might be able to shed some light on the subject.  A little advice would go a long way right now.
Thank you for your help. 

Thank you, Julie

My guess is that Julie was Googling short sales looking for some answers and turned up a post I had just made to my North Idaho Janna Blog, The Joy of Short Sales!  Or perhaps an earlier one, A day in the Life of a Realtor involved in Short Sales.  I thought I would share my response to Julie in case it might help someone else who is wondering about short sales and whether or not it would be an option in their particular circumstance.

Hi Julie,
 
Well, that is a broad question.  I'll try to answer the best I can, but please feel free to send me any SPECIFIC questions you might have.
 
Since I don't know anything about you I am going to assume that you are a homeowner who might be wondering if a short sale would be a good option for you in order to avoid a foreclosure.  That is most often the case in a short sale.
 
As Realtors, first we consult with the homeowner about their situation and can advise as to whether or not a short sale is a viable option.  In a nut shell, the homeowner is usually facing a hardship of some kind - loss of job, divorce, death of a spouse, interest rate adjustment that increases their payment - something that makes it impossible to continue with their current mortgage payments. Homeowners can talk with their lender to see if there are alternatives that might work, like a loan modification that could reduce the payments to something manageable.  When that isn't an option, the lender will usually agree to a short sale because it is better for them than a foreclosure.  With a foreclosure, they will lose much more in carrying costs, legal fees, etc.  For the homeowner, the short sale is much better too, because although it is a ding on your credit, it isn't nearly as bad, and doesn't remain as long, as a foreclosure.
 
Once we have decided that the short sale is the best option, I would assist in getting the short sale packet together and submitted to the lender.  Part of this packet is an authorization you sign that gives them permission to talk with me about your case.  It would also include a hardship letter explaining your situation, pay stubs, tax return, the listing agreement, a market evaluation showing that the value of the property is less than what it would take to clear your mortgage, and whatever else is on the list from the lender. From that point on, you wouldn't need to be in contact AT ALL with them unless you chose to be. 
 
Your home would go on the market with the disclaimer that it is subject to approval by a third party creditor.  When an offer comes in, it is submitted to the lender, and the waiting game begins. We will be assigned to a negotiator. It seems to take FOREVER to get a response. They will order a BPO, or Broker Price Opinion, kind of a mini appraisal.  I do a lot of those for lenders so I am very good at setting the listing price at the right place. The lender will take the valuation from BPO as the fair market value. If there is a second mortgage, they have to negotiate with the 1st mortgage on the amount they will settle for.  If you have mortgage insurance, the insurer will also need to be be part of the negotiations.  It is complicated, and can be drawn out. It's important for you to have a Realtor who understands and has some experience with short sales, negotiations, and keeping everyone calm in a tense situation.  While all of this time is dragging out, with an antsy buyer waiting for a response and a discouraged seller in a tough spot, the Realtor is in communication with the negotiator, providing any documents they ask for and trying to keep everyone calm, and the transaction from disintegrating.  
 
Depending on the offer, the lender can either accept or reject it, or counter, and we just keep on moving forward.  Almost always, a lender will postpone a foreclosure sale date if there is a viable offer they are working.  That's the case with one of my current transactions.  Usually, they won't begin foreclosure proceedings, even if the seller is in default, as long as the property is listed for sale.  That's the case in another one of my current transactions.
 
Then, when we finally get to closing, the lender pays ALL the costs - mortgage payoff, property tax bill, real estate fees, EVERYTHING and you as the seller don't have to pay one cent. There will be a deficiency - the difference between what the lender nets and what was owed.  During negotiations the lender may ask the seller to sign a promissory note for part of it, or just an agreement in general saying that the lender can seek a deficiency judgment in the future if they choose to.  We have not been seeing many of them choose to, because the facts are the sellers are without financial resources or they wouldn't be short selling, and the lender would incur more legal costs to essentially try to get blood out of a turnip.
 
Does that help?  I hope I haven't just confused you more!  If you ever want to just talk, you can come by my office, or I can come to your place, or whatever works for you. No strings attached. I find that many people in this situation get paralyzed with fear and depression, a feeling of hopelessness.  Short sales CAN be a really good solution in many cases.  We are seeing an increasing amount of them right now in our area, and expect to see more and more as the months go by.  The worst thing someone can do is to just do nothing.  Even if a homeowner is already in default, as long as we have at least a month or two before foreclosure, it's not too late. More time is better, but like I said earlier, as long as we get an offer to be working with, they will postpone the foreclosure date even after it's been set. 
 
Hope this helps. Send up a flare if there is anything else I can do for you.
 
Janna
 

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com  

Martha Dilts, our regional HUD Deputy Director, sends out monthy newsletters for the region that usually contain some great information and updates for our specific area.  Here are a few highlights from the July newsletter.

Find Out How Much HUD Funding Has Been Allocated in Your Area
Want to know the what, where and how much particulars of HUD Recovery Act spending in your back yard?  Click here for a cool interactive map.

More Funding for Low Income Housing Construction
Hoping to “jump start affordable housing construction,” HUD Secretary Donovan has announced the award of $8.3 million to Idaho under the Tax Credit Assistance Program(TCAP) established by the Recovery Act. One by-product of the nation’s financial crisis has been reduced investments in Low Income Housing Tax Creditsthat provide incentive for investors to provide private capital to developers of multi-family rental housing for lower-income families. HUD's awarding the TCAP funds by formula to state housing finance agencies – in our case Idaho Housing & Finance Association – hopes to enable them re-start stalled, but qualified housing. To maximize job creation, priority will be given to projects that can begin immediately and be completed by February 16, 2012.

Refinance Options Increased for Underwater Homeowners
HUD Secretary Donovan announces that the refinance option under the Making Homes Affordable program will be expanded to borrowers who are current but are up to 125 percent "under water" with their Fannie Mae or Freddie Mac- guaranteed mortgages.  Previously, the option was open to those 100 percent "under water." 

$8000 CAP Eliminated for Energy Efficiency Costs Added to FHA Mortgage
In accordance with the Housing & Economic Recovery Act of 2008, on June 10th FHA issued Mortgagee Letter 2009-18eliminating the $8,000 cap on the amount of eligible energy-efficiency costs that can be added, through an Energy Efficient Mortgage (EEM), to the base maximum FHA-insured mortgage.  The new limit is now the lesser of 5 percent of the value of the property or 115 percent of the median area price of a single family dwelling or 150 percent of the conforming Freddie Mac limit.

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com  

The other day, I was a bit frazzled trying to keep up with so much to do.  Five short sale contracts, we all know how harried those can be.  Ten anxious Sellers who are relying on me to find buyers, schedule showings, market, keep flyer boxes full, and provide feedback.  Several buyers to be locating, scheduling and touring homes. 

My team leader, Terry Gurno, popped into my office to say hello and noticed I was looking a little stressed.  I explained to him I was just in a perpetual time crunch, nothing bad, all good, just not enough hours in a day to ever feel like I was on top of everything in spite of how long and hard I worked.   

He put things into perspective for me really fast.  He told me that one way to look at it is this:  If I didn't have all of this going on in my life, I would be on my knees praying for God to send it to me! 

Well, he's right! So yes, I am truly thankful that just 10 months after moving to a new state and starting from scratch, I am so busy that some days I can't see straight! 

Today, in an attempt to find balance, I came to the office very early to knock out some important tasks.  the kind of things that I would have my assistant do, if I had one! I wore my play clothes and rubber flip flops.  This was to REMIND me that I was going to go home EARLY today and play rather than spend 12 or more hours working.  And also make it impossible for me to change my mind and set appointments or anything else not appropriately done in one's play clothes and rubber flip flops! 

It worked!  It's not yet 1:00 and I am off now for a little window of R&R with my son, thankful for all the sellers and buyers that I am blessed to have in my life right now, and the ability I have to truly help and be of service to them.

Today, as I watched my husband Rick install a brochure box on one of my yard signs, I reflected on how blessed I am to have him in my life.  Nowadays I call Andy the Sign Guy when I need a yard sign installed.  Soon afterwords (for a price!), a sign appears like magic and I get a text with a picture to prove it.  It wasn't always so.  In Colorado, I had my own sign inventory, they were metal framed signs and they needed to be pounded into the ground.  Easy when you had a nice soft lawn. Rick was my sign guy, and I can't tell you how many times he pounded those metal signs into rock hard ground until they bent under pressure. 

Today, he took a drive with me to Cataldo to put two screws into a brochure box to attach it to my sign post.  Certainly something I could have handled!  But the gesture was sweet, and I grabbed my camera to capture the moment in time.  For 35 years he has been there to support me in everything I have ever done.  Thank you Rick!  You'll always be my favorite sign guy, and so much more!

Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS  208.651.9700  NorthIdahoJanna@gmail.com  

Here's wishing you all a wonderful Independence Day celebratory weekend!