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Investing before buying

Friday, January 27th, 2006

There is a new trend in Australia of picking up investment properties as a first home. According to Mark Bouris of Wizard Home Loans, it’s a smart financial decision to “[pay] off their mortgage while still living somewhere affordable.”

The reasoning with this is simple…

  1. Invest in a rental property
  2. Build equity by letting the renters pay down the mortgage

For the Aussies that do this, they cannot afford to buy a home in the areas that they want to live. So investing is their way into the property market. Investments in Idaho, including single family homes, are nowhere near the prices of places like Australia’s east coast. However, rental properties in the Lewiston and Clarkston area still seem to make good investments. In fact, because they are so much lower they are great investments.

Take a look at our housing statistics pages to see the average prices of homes in the area. For one reason or another there are always people looking for a place to live whether they’re college students or people just waiting to build their dream home. Contact us and we’d be happy to discuss investment potentials in your price range.

Lewiston: Safe City to Live

Monday, November 28th, 2005
Morgan Quitno, who ranks the safest cities in the U.S., recently ranked Lewiston as one of the safest cities to live. Lewiston, ranked 40 of all metropolitan areas, was ranked based on their low crime rates. This is yet another great reason we LOVE Lewiston–A safe place to live.

Turkey Needs

Tuesday, November 22nd, 2005
The Idaho Food Bank needs more food! If you can help, you can contact the Lewiston distribution center at (208) 746-2288. From the Idaho Food Bank website:

Last year, statewide, generous donors helped the Foodbank distribute 13,800 turkeys to hungry families over the holidays. This year we hope to increase our total turkey distribution to a record 15,000. For Thanksgiving, we have requests for 5,800 turkeys but only brought in about 2,500 thus far.

The reason for this increase in need is explained by a new USDA hunger study that showed more than 200,000 people in Idaho did not always have access to a sufficient diet. In response, The Idaho Foodbank has increased its distribution of emergency food to date by 15% or 600,000 pounds. We expect the demand for turkeys to increase this year in a similar manner.

The Idaho Foodbank in an efficient and caring manner, provides food, information, and supportive services to hungry people through partnerships with nonprofit agencies, the food industry, government, volunteers, corporations, and individuals by serving as a central clearinghouse for donated and purchased food.

Katrina Refugees Happy in Idaho

Friday, September 23rd, 2005
By David Johnson of the Lewiston Tribune

WHITE BIRD — As curious as it may sound, Danny and Susan Polston say Hurricane Katrina did them a favor. The mammoth storm forced them out of New Orleans and, in a roundabout way, introduced them to Idaho.

“I love it,” Susan says of their temporary home in a motel in White Bird. “I open the window in the morning, there’s no water, and I let the air in and watch the sun rise over the mountains.”

The last motel window the Polstons peered out of was about five minutes from downtown New Orleans at Shoney’s Inn. And all they saw was water, looters, destruction and a future nowhere in sight.

“I’ve been through a hurricane before,” says Danny, 35. “But this was like a war zone, especially at night.”

In retrospect, say the Polstons, they should have heeded early evacuation orders.

Their son, 4-year-old Josiah, agrees. “They are kind of scary,” he says of hurricanes. “They aren’t scary when they’re little. But they’re real scary when they’re big.”

Danny recalls the water that came in the wake of the winds and forced him, Susan, Josiah and their two pit bulls, Asia and Achilles, to the second floor of the motel.

“All our family, before the storm, kept telling us was to go to the Superdome, go to the Superdome,” Susan says.

But Danny refused. He says he had an inclination that bad things were brewing at the home of the New Orleans Saints football team that had been turned into an evacuation center. So the Polston’s opted to stay at the motel where many other people remained as the storm bore down on them.

“The water got about four or five feet deep,” Susan, 28, recalls. Danny was able to wade through the deluge and move the couple’s old GMC pickup truck to high enough ground and keep it from being rendered useless.

“We had just moved into that place,” Danny says of their stay at the inn. “We didn’t want to live right in New Orleans because the crime was bad.” They had moved from Maine about six months earlier and Danny was working as an electrician in the shipyards.

After the hurricane, his job was gone. So he and Susan decided to leave and were able to get under way about four days later. They drove in the pickup to Danny’s parent’s home in Denison, Texas. “They put us up in an apartment house,” says Denny. That’s when he began making phone calls, hoping to find work.

“In a weird sort of way, the hurricane helped us get out of there,” says Danny, confiding that while in New Orleans he and Susan had made some bad financial decisions and now are suddenly presented with an opportunity to make a new start.

He recalls phoning one of his old employers, with headquarters in South Dakota, and was told two jobs were available — one in Nevada and the other in Idaho. He and Susan chose the latter, borrowed a family Durango and hit the road.

“They sent us to Post Falls,” Danny recalls. “And they said, ‘Oh no, you’re supposed to go to Grangeville.’” Despite the detour, the Polstons say they had already fallen in love with Idaho as soon as they entered the mountains. And the infatuation only grew as they made their way to Grangeville.

Danny’s now working as an electrician during construction of the new Bennett Forest Industries mill at Grangeville. “I’m going to do this to get our foot in the door,” he says of the job that’s supposed to run for a few more months.

White Bird, about 16 miles from Grangeville, has turned into something akin to a high-and-dry nirvana, say the Polstons. “It’s hard to believe places like this exist,” says Danny. “The people are so friendly. And I’m not even going to talk about how beautiful it is. It should be kept a secret.”

Compared to flood waters, the parched hillsides that surround White Bird this time of year are a feast for the eyes, say the Polstons. They hope to either rent or buy a home. Josiah is eager to start preschool. And Susan says it’s just good to be away from Mother Nature’s wrath.

But not quite.

“My sister lives 30 minutes from the projected eye of Hurricane Rita,” says Danny, “midway between Houston and Galveston. I told her to evacuate.”

Help Hurricane Katrina Refugees

Thursday, September 1st, 2005

The biggest news has been Hurricane Katrina. With the waters finally receding and evacuees returning to their no longer existent homes, thousands of New Orleans residents are now homeless. Families, elderly, disabled, and orphans are now in need of food, water, and shelter. So how can you help?

Well, before you hop on a plane to NOLA, be aware that there are many organizations already working in the Gulf. Also, it’s best to work with a relief organzation to ensure you’re not adding to the chaos. Here’s a list of organizations and resources to help you decide how you can help.