Broken

Records

Page 2

Private

Listings

Page 4

Charts:

Boise Housing

Shortage

Page 8

Boise Housing

Over -

Correcting? Page 7

Boise

Market

Forecast Page 10

Home

Reviews

Page 14

PRSRT STD

US Postage Paid Boise ID

Permit #649

Brought To You By: Front Street Brokers Luxury Home Sales & Investments Ph 208.740.5000, Fx 208.441.0292 877 W Front Street, Boise Id 83702

June 2012 Issue BROKERS Front Street Brokers.com

Home Prices

U.S. Down 2 | Boise Up 5 By Staff Writers

]Front Street Brokers

The Case-Shiller Home Price Index

showed a 1.9% drop in home prices in

the first quarter of 2012 compared to

the first quarter of 2011. This latest

composite report shows the lowest

home price levels since the peak in

2006. Indices display a 35.1% drop in home prices since that peak in the se-

cond quarter of 2006. The cities with

biggest drop in March of 2012 were

Atlanta, Chicago, Las Vegas, New

York, and Portland.

However, some regions around the na-

tion are not experiencing drops but ra-

ther seeing significant price increases,

such as Boise, Idaho, with a 5.1% in-

crease in home prices for the first quar-ter of 2012 compared to the same

months in 2011.

The Standard & Poor's/Case-Shiller

Home Price indices use only 10 and 20

city composites for their analysis on

national home prices. The Federal

Housing Financing Agency (FHFA), on the other hand, tracks home prices na-

tionwide through Fannie Mae and Fred-

die Mac sales. FHFA is reporting home

prices actually increased by 0.6% for

the first quarter of 2012, which paints a

considerably rosier picture than the

Case-Shiller report this month. One

could argue therefore, that the Case-

Shiller Home Price indices may be

missing some important regional price

trends by only tracking 10 to 20 U.S.

cities when compared with FHFA track-ing home sales in nearly every city in

every state for their home price index.

(Continued on page 9)

Available Bank Owned Foreclosures – Boise Metro Down 90% Since Peak (Peak= Sep 2010)

Bank Owned Foreclosures 1.7% of Total Supply – Ada

3.4% of Total Supply – Canyon

Pending New Construction Home Sales Up over 100% - Ada

Up over 200% - Canyon

Total Inventory Homes For Sale Down 63% Since Peak (Peak=Jul 2007) – Ada

Down 66% Since Peak (Peak=Jul 2008) – Canyon

Average Sale Price – Ada Up 8% Year to Date

Up 13% Apr 2011 – Apr 2012

Price Bottom = Mar 2011

Average Sale Price – Canyon Up 9% Year to Date

Up 12% Apr 2011 – Apr 2012

Price Bottom = May 2011

Home Buyer Demand - Ada Up 26% Since Bottom (Demand Bottom = 2008)

Up 10% Year to Date from 2011

Home Buyer Demand – Canyon Up 48% Since Bottom (Demand Bottom = 2008)

Down 11% Year to Date from 2011

Quick Stats

BOISE REAL ESTATE FACTS

By Mike Turner—CEO at Front Street Brokers

Last Week Freddie Mac reported an all NEW

record in Fixed Rate Mortgages.

The 30yr fixed rate mortgage averaged 3.79 for the

week, which is the first time rates on a 30yr FRM have

dipped that low. However, even though this is amazing

news, it seems that those of us in the real estate industry

are starting to sound like broken records.

―Homes have never been more affordable … never been

more affordable … never been more affordable … never

been …‖ well, you get the picture.

And while the message is repetitive, that doesn’t mean

it’s not true. In most areas of the country, home prices

are at or below pre-bubble levels, costing about what

they might have in 2002 or so. In other areas, they are

even further off bubble levels than that.

Also, as you know, the interest rates on mortgage loans

are very low. We’ve probably heard it so many times

that we’re numb to the term, but when you hear

―historically low‖ in regard to mortgage rates, it’s true.

―Historically low‖ as in ―never been this low in history.‖

The problem is we’ve been bombarded so much by this

information that it really doesn’t have much of an im-

pact on us. But what also lessens the impact is the fact

that, separately, affordable prices and really low rates

are sort of abstract concepts.

When you hear a home is priced at what it sold for in

2002, for example, you don’t immediately think, ―Wow,

that’s cheap.‖ When you see a 30-year fixed-rate mort-

gage of 3.9-percent, it might not strike you as being sig-

nificantly different than, say, the 5.5-percent mortgage

you have on your home now.

But how about looking at affordability from a more co-

hesive perspective? Instead of thinking, ―low prices, and low rates,‖ let’s look at mortgage payments. After all, it

doesn’t get any more real than that – it’s what the home

costs you in real dollars each month.

In the 1st quarter of 2012 the National Association of

Realtors showed that the median sales price for residen-

tial real estate was $163,000. The median interest rate on

a 30-year, fixed-rate home loan was 3.95 percent in

March. If you purchased a median-priced home with a

median-rate loan with 20 percent down, your principal

and interest payment each month would be $621.83.

Five years ago, in March of 2007, the U.S. median home

price was $257,600. The median interest rate on a 30-

year fixed-rate loan was 6.40 percent. Assuming 20 per-

cent down again, that’s a principal and interest payment

of $1,289.04.

That’s $621 vs.

$1,289. In other

words, the monthly

cost for owning a

median-priced U.S. home is less than

half of what it was

five years ago.

Looking at it from a

debt-to-income ratio,

the way banks do,

the $621 payment

represents just 15

percent of the U.S.

median monthly in-come. Banks typical-

ly want your house

payment to be no

more than 30 percent

of your household

income. In 2007, the

$1,289 monthly pay-

ment was 30 percent

of the annual month-

ly income of Ameri-

cans in 2007.

A recent price comparison survey showed that it’s now

cheaper to buy than rent in 98 out of 100 U.S. metropoli-

tan areas. If you look at the fact that the cost of the me-

dian home with the median interest rate has gone from

eating up 30 percent of a household’s monthly income to

just 15 percent, you can see why.

If you’re an investor, the news is almost as good. The

rates on investor loans have dropped significantly, too.

They’re not as low as the rates on primary residences,

but if you can put 25 percent down, you can get to with-

in a point or so. And while you might not get all the way down to $621 with a median-priced investment property,

even paying a full point higher gives you a monthly pay-

ment of $699.45 per month.

Considering that rental rates have actually increased

since 2007, the difference in monthly cash flow between

a rental in 2007 and now is enormous.

Maybe looking at the numbers from the monthly pay-

ment standpoint gives you a little different perspective.

I’m not trying to insult anybody’s intelligence by simpli-fying a home purchase into a monthly cost, but the reali-

ty for most of us is that’s exactly what it is. We hear

things like ―lowest prices in a decade‖ and ―lowest rates

in history,‖ but until you sit down and apply it to real

dollars and cents, those phrases can ring hollow. Add in

the fact that we’re kind of numb to them because we

hear them all the time.

If you can only afford or want to afford a max payment

of $1200/month with just 5% down, that will likely get

you a home up to $250,000 with today's rates, and will

give you quite a few nice options in the Boise Idaho market. However, if you wait, and something positive

could happen in the U.S. or European market, for exam-

ple if Greece decides it is willing to work with the EU,

interest rates could go up significantly overnight.

If interest rates bounce back to 6% this summer, which

is still historically low, to stay within your same budget

then the max you could afford is a $200,000 home. This

$50,000 difference in the Boise Real Estate Market is

huge, and you may not be very happy about your options

at that level.

The chart to the left shows the Boise Real Estate Market

having an affordability index reading of 26% in 2008,

meaning that for people living in Boise, on average it

will take roughly 26% of your median income to buy/

own a median priced home. Now in April of 2012, the

affordability index is at 13% which is means it is 50%

cheaper to buy a home now compared to 2008.

(Continued Page 3)

BROKEN RECORDS...BUT NOBODY IS LISTENING

PAGE 3

Letter from the Editor... “I worry that we might not see a really major turna-round in our lifetimes.” - Says Robert Shiller

Seriously…Robert, you may just be the most pessimis-

tic person in the US this housing quarter. When I read

this comment from Robert Shiller, I wondered if he was just fishing for some front page news for his Case/

Shiller Home Price Index, or if he is really that disheart-

ened about the future of real estate?

Despite being on the forefront of housing market track-ing for decades, do you think Robert Shiller avoided

getting burned on his personal real estate during the

crash? Or did he get caught like the rest of us? The rea-

son I ask is, why such negativity? ―…We might not

really see a major turnaround (in housing) in our life-

times‖ is just irresponsible. Is he ignoring over a hun-dred years of proof that housing moves in cycles just

like any other market?

I know in the past I have been labeled an optimist. In

fact, I have clients that poke fun at my optimism all the time. I am a numbers/statistic junkie, probably just like

Mr. Shiller. I look at the data and try to identify trends

so we can better anticipate the future. This first quarter

of 2012 has been LOADED with positive moving trends

in housing. This comes after 4 years or more of progres-

sively disappointing real estate news.

For example, Corelogic, one of the nations leading and

most respected real estate researchers, announced this

month that we have officially hit the bottom, based on

the wave of positive housing statistics coming in each

month. Corelogic’s Chief Economist, Mark Fleming,

says it is the best time to buy a home in 20 years.

Nationally, the inventory of homes on the market is rap-

idly diminishing. The supply of homes shrank over 20% in the last year according to the National Association of

Realtors. NAR also showed that, out of the 146 metro

markets, 144 reported shrinking inventories this past

year. In other words, 99% of America’s housing markets

reported their supply of homes has dwindled over the

last 12 months. This is REALLY significant because

last year at this time the nation showed a

26% increase in inventory.

Even with all this good news in housing, no one is ex-

pecting the real estate market to shoot back up to where

it was. Housing prices will come back slowly; it may

even take 10 or more years to get to the levels we saw in 2006/2007. But to say the housing market may never

see a turnaround in our lifetime is just crazy talk.

I’m not sure if Mr. Shiller simply needs a hug and some-

one to tell him everything is going to be ok, or if he just needs a vacation. Either way, it is clear to me that hous-

ing has already begun to turn around, and I am still plen-

ty alive and kicking to watch it happen.

-Mike Turner

Editor, Boise Real Estate News

(continued from page 2)

Home prices in Boise are very similar to what they were

in 2002, (10 years ago). However, in March 2002 the

average interest rate on a 30 year fixed rate mortgage was 7.01%, so even if you bought a home 10 years ago,

you would have been limited to buying a home up to

$175,000 to keep your $1200/month budget rather than

the $250,000 max price you can get today with the same

budget.

Home mortgage rates have been tracked over the last 50

years, and during that time they have averaged over

8.5%. [See Chart to the right] So to think they will stay

this low for ever is a costly mistake.

Hopefully, now that you’ve seen actual examples, you will be less numb to the impact the next time you hear

our broken record of how affordable it is to buy a home

now, as the interest rate you get for your home loan has

a HUGE impact on the quality of home you can afford.

Article By

Robert Shiller

Mike Turner Front Street Brokers -CEO

877 W Front Street

Boise ID 83702

208 740-5000

FrontStreetBrokers.com

Private listings

NOT ON THE MLS!

THE PROBLEM:

* The hassle of having to drop everything and frantically clean your home for the random, unex-pected showing request from an agent. * Worry that someone will misuse the lockbox on your front door. * Answering questions from neighbors as to why you are moving.

* Wasting time and energy on unqualified buyers asking to see your home. * You’re not certain you want to sell but are curious as to the offers your home may get.

THE SOLUTION:

With a private listing you can avoid: * Having a sign in your yard. * Having your home on the MLS, which causes potential unwanted interaction with agents, neighbors, etc.

* Having unqualified buyers in your home * Constant pressure to drop your list price—You control pricing on private listings

WHY LIST YOUR HOME PRIVATELY?

With our PRIVACY LISTINGS you get the full power of the Front Street Brokers marketing systems to sell your home, without having all the normal has-

sles of listing your home. If we find someone interested in your home either through our brokerage or through another agent, we make sure they are well

qualified and your home definitely meets their criteria before we call you to set up a private showing. Our database of buyers is

likely twice as large as any other brokerage in town, and we use different marketing techniques to sell our homes that most agents

haven’t even heard of. Some of our privacy listings sell within a few days, due to already having a large database of able buyers looking. We have also been able to obtain higher prices on our privacy listings due to the home always remaining at Zero days on the market, buyers

are less likely to lowball the seller, compared to when they see a home listed on the MLS for 90 days+. If a PRIVACY LISTING sounds

like a good fit for you, don’t hesitate to contact us for more information. 208-740-5000 Or go to: PrivacyListings.com

An ideal place to raise a family! Gorgeous semi-custom home in a great neighborhood,

ideally located between Meridian and Eagle (the best of both cities!), close to schools.

Plus, the home is just across the street from the community clubhouse and pool so you’ll have quick, easy access all summer long!

Great modern craftsman style on the exterior and thoughtful traditional finishes in-

side. 3,000 sq ft: 4 bedrooms including a main level master suite, office, and 3 baths.

Lots of upgrades including extensive hardwood, trim work, molding, and built-ins.

Chef’s kitchen opens to the great room and includes granite counters, warm cabinetry,

and stainless steel appliances. There’s also an incredible upstairs bonus area that in-

cludes a full bath, bedroom with walk-in closet, and the ultimate ―man-cave‖ complete

with a full wet bar and outdoor deck access! Fully fenced, roomy .33 acre lot with a

variety of mature trees and garden spot. Privately listed at $335,000. 208-740-5000.

Family Home in Great Location!

Beautiful, one-of-a-kind home located in the picturesque foothill setting of Claremont Heights

Subdivision. Large, gently sloped .72 acre lot with mature landscaping offers a ton of privacy.

And you won’t believe the views! Open foothill and city vistas to be enjoyed inside and out. Some of the best mountain biking in Boise practically in your backyard! Not to mention being

just minutes from downtown.

4,023 sq ft of impeccably cared for space. 4 bedrooms (including 2 master suites), 3 baths in a

tri-level design. Gorgeous detailing includes wood floors, built-in’s, 3 fireplaces, and plank and

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living throughout.

Outside, you’ll have plenty of room to entertain on the huge wrap-around deck. Plenty of yard

to play in as well! The whole lot is nicely landscaped with a variety of mature trees and bushes.

Privacy, location, and views–this home has it all! Privately listed at $819,900.

Call Jenifer Williams, Front Street Brokers, 208-695-6729.

Top of Boise Foothills

Property Details:

2.5 acre lot, beautifully landscaped (over a hundred trees planted). Unobstructed views

of the Owyhee Mountains. 5+ Bedrooms, 7,650 sq ft, huge drive-through shop and

other amenities too numerous to list. Home is in Wilder, a scenic 35 min drive from

Boise. Small subdivision (there are 3 or 4 houses on this street). There is even a small putting green, and grape vines. Perfect country family

home or empty nester spot. Original owners put a ton of

money in this place, and had it on the market for $1.29

million, so the current $525,000 price the sellers have it

at is awesome. Read more of Mike’s review at: http://frontstreetbrokers.com/Wilder-Home

Property Details:

3443 N. Triple Ridge

Pl. Absolutely ideal

family home and horse

property in a desirable Eagle location. Five irrigated acres (water rights) with horse set

up including barn and pasture. 6 huge bedrooms with Jack-and-Jill bathrooms and a spacious master suite. 4,374 sq ft. Year round sunroom with fireplace. Two furnaces

and two water heaters ensure whole-house comfort. Open kitchen with granite coun-

ters. Listed at $625,000. Call me to have a look at the property today: Sandi Rubio,

Front Street Brokers, 208-850-3681

What Mike Thinks

Owner Financing is possible with a minimum down payment of 15%. Contact

Front Street Brokers for more details about this property and/or terms about the owner financing option. Property Details: Price:

$425,000, 4 Bedrooms, 3 Baths, 4 Car Garage, 3,430

sqft, first class landscaping, located in Bear Creek

Subdivision in Meridian. Great family neighbor-

hood with large park inside the sub, and quick prox-

imity to Roaring Springs, the freeway, shopping and

schools. Striking living room off kitchen with wood

timbers and other warm, inviting elements through-

out. See more at:http://frontstreetbrokers.com/Meridian/2011

Property Details:

5806 Duxbury Pier.

If you want all the

attention to detail and

top-of-the-line finish-es you’d find in

a luxury home BUT don’t need a ton of space, then this is the perfect place for

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sion, a gated community. 1,806 sq ft , 2 bedrooms, 2.5 baths, plus office. Great

outdoor entertaining spaces with mountain and water views. Priced at $336,000.

Call me to schedule a showing: Sandi Rubio, Front Street Brokers, 208-850-

3681

What Mike Thinks

What Sandi Thinks What Sandi Thinks

Eagle Luxury Home

and Horse Property Low-Maintenance

Luxury Townhome

Private listings

NOT ON THE MLS!

Tight Lending may not be the Problem… Maybe it’s us?

YOUR BUSINESS SHOULD BE

LISTED HERE!

Boise Real Estate Newspaper, an extension of Front Street Brokers, works to develop thriving, interactive, and ongoing relationships with our readers, and to educate about the Boise Real Estate Market, community news and houses offered in an informative, entertaining manner. Read by a target demographic of professionals, homeowners, homebuyers, and those just curious about real estate. Live link on Front Street Brokers website with an average of 50,000 monthly hits. Print copies are postage mailed to over 11,00 local households. Emailed out to over 20,000 online views for each issue. Available at free distribution points around our prime 9 th and Front office location (BoDo District). Distribution grows with every issue. Limited time summer rates, Variety of plans to help you work within your budget and marketing goals

Mike Turner, 208-740-5000 , email inquiries to info@FrontStreetBrokers.com

-Reach this audience!- For a price sheet and circulation details

CALL 208-740-5000 Or send email inquiries to info@FrontStreetBrokers.com

By Agents of

Front Street Brokers

There seems to be a lot of talk from consumers and the

media about how tight lending is today for home buy-ing.

I tend to agree that lending is tight and difficult to get

but NOT in regards to buying a home. I see plenty of

difficulties getting loans for commercial property, busi-

nesses being held back from expanding because no one

will lend them money to grow (which is a whole differ-

ent topic of discussion).

But to say that the housing market is being held back

because of tight lending is not a statement I would agree

with. I see banks very willing to lend to homebuyers. The problem is not the banks’ desire to lend to home-

buyers, but rather, the public perception of the lending

process.

You don’t need to have perfect credit and a huge down

payment to qualify for a home loan, but the lending pro-

cess has changed and the public is struggling to come to

terms with it. Many homebuyers fight the process, ulti-

mately delaying or hindering themselves from getting

financing. I see it all the time.

The biggest change to the lending process today is that

loan underwriters need MUCH more information than

they did in the past. A homebuyer must be prepared to

hand over a lot of financial details, and do it more than

once. Having to submit the same information multiple

times often frustrates homebuyers. You’ll be much more

likely to complete the loan process smoothly and suc-

cessfully if you go into the deal knowing to expect that

lenders and underwriters are under a lot of pressure to

have every piece of evidence to prove you are a good

candidate to lend to. They also need to be sure there is

not a threat to their ability to re-sell your loan if neces-sary.

Mark Greene, a contributor for Forbes.com, says,

―Mortgage consumers who enter the mortgage approval

process ready to battle their chosen mortgage lender will

come out with a nightmare story to tell. As the process,

requirements, and guidelines are the same for every-

body, your mindset is the game-changer. Accepting the redundant documentation necessary for lender approval

will make everyone’s life easier.‖

Another thing to realize is that not all loan officers are

created equal. They may offer similar rates on their

loan, but that doesn’t mean that they are experienced in

handling the new guidelines of lending yet.

When seeking home financing, I recommend you ask

around for a referral from someone who had a recent

positive experience. A good lender today understands

the new lending processes well, and knows how to pre-pare you and your loan file for underwriting so far fewer

complications arise before closing.

In fact, I even know a lender that will guarantee your

loan will be completed on time because he is so confi-

dent he can hand over a perfect loan file to underwrit-

ing, and therefore virtually eliminate the threat of delays

or problems before closing.

So, don’t despair about tight lending. The lending mar-

ket is alive and well, and your chances of success are high—just go into the process prepared with necessary

information, the right expectations, and an experienced

loan officer on your side.

Levi Phillips—Owner Idaho Roofing Contractors

208-941-4280

―Levi has been helping my clients with their roofing needs

for years. Definitely give him a call for an estimate on your

roof repair or replacement.—Mike Turner, FS Brokers

Let’s imagine there had been no real estate bubble six years ago. Where might real estate home prices be? National home prices appear to have finally bottomed out in 2012, and by some estimates have fallen to where they should be based on his-torical averages. Essentially this housing crash has erased all the gains received during last decade’s bubble. However, this is

referring to the entire United States housing market as a whole.

What about individual markets?

When examining local markets around America, you can find instances of markets that have over-corrected. This over-correction is most commonly found in areas severely affected by foreclosures. When over 50% of all home sales in an area

are foreclosures over a sustained period of time, you will likely see a housing market that has home prices far below the histori-

cal average trend.

Boise, Idaho, is one such example of a housing market that has over-corrected. The Boise metro area has experienced more than two years of home sales where distressed properties (bank owned homes and short sale foreclosures) accounted for over half of all home sales each month. This has caused Boise home prices to fall steeply over the last four years. Boise’s median home prices peaked in the summer of 2006 at approximately $240,000, and appear to have fallen to their lowest in Spring,

2011 at approximately $140,000. A drop of over $100,000 (or 42%) in a 5 year period! Chances are, if you’re a homeowner,

you’ve felt the sting.

The chart to the right describes what the Boise real estate mar-ket may have looked like if there was no real estate bubble and

home prices continued to increase at a rate of 3% each year.

Analysts at FIVSERV, are predicting that Boise will begin its housing recovery much faster than most other markets, seeing home prices increase close to 7% in 2012 while the national home price increases around -1%. This home price prediction for Boise appears to be accurate, or at least trending that way,

as home prices are well above 2011 numbers year to date.

Mike Turner, a real estate agent with Front Street Brokers and

host of Boise Real Estate Radio says, ―It’s clear when looking at the historical averages of home pricing that the Boise Market has over-corrected. Markets like Boise that have over-corrected will see bigger jumps in home prices in 2012 and 2013 compared to the national average. I expect Boise home prices to increase close to 20% over the next 2 years. However, I don’t see this increase as appreciation, but rather a further

correction to this market.‖

In other words, he is not saying that sellers will be able to sell

their homes for 20% more in two years, but that with fewer foreclosure sales impacting the market, the median home price for Boise should rise close to 20% by the end of 2013.

- By Agents of Front Street Brokers

Has The Boise Housing Market Overcorrected? What if there was no real estate bubble, where would home price likely be today?

Housing Market

Over-Correction?

Boise Rental Management Matt Rubio

208.473.2418

―I refer my clients to Boise Rental Management. Not only is Matt the kind

of guy you want in your corner, he is all business with tenants and helps you

keep your investments profitable.‖ - Mike Turner, FS Brokers

Home Inspector Davin Strand

Bent Nail Home Inspections

208-869-5557

―Davin has been our recommended inspector for our real estate firm for years for good reason. He is the best.‖ - Jared Cozby, FS Brokers

The Supply Of Homes Is Shrinking

MILLION DOLLAR HOME REVIEWS

Check Out More Cool Idaho Homes For Sale At: Frontstreetbrokers.com/Blog

*Private Beach * 7 car garage * $2,995,000 *

Listed with Keller Williams Realty

The number of available homes on the market is similar to what was seen over 10-12 years ago, however the population has grown considerably during that time. This inventory

shortage should help drive home prices up across the valley in 2012 and 2013

PAGE 9

By Mike Turner,

Front Street Brokers Realtor and

Host of Boise Real Estate Radio

Last week on Boise Real Estate Radio, we had Mark Perison, Attorney at Law, in studio. Mark specializes in Idaho foreclo-

sures, and even teaches a class on this subject at the Idaho Real

Estate School.

In speaking with him, I was alarmed to hear some of the horror stories people are experiencing when they attempt to short sell their home. Being a real estate agent who works with homeowners who may need to short sell their homes, this was extremely valua-ble information to help me do my job better and not make an already stressful situation more stressful for my clients. Here is quick recap of the discus-

sion. (Keep in mind this is my interpretation of what the attorney told me, and should not be used as or considered legal advice. You should contact

Mark Perison, 208.331.1200).

A lot of my questions for Mr. Perison were about deficiency judgments. A deficiency judgment is when your lender sues you for the amount of money they lost during a short sale or foreclosure on a property. What homeowners and real estate agents

don’t often realize is, just because your lender al-lows you to do a short sale, it doesn’t mean they will agree to waive their ability to sue you some time in the future. Obviously nobody wants to be sued, so it is important you negotiate to remove or reduce the possibility for lenders to do so. Mark said that if you fail to get your lender to provide a written statement agreeing to waive their right to sue for the deficiency, then the lenders have up to five years to come back and sue you if you short sell your home. Yikes! Therefore, it is

vital that a homeowner goes into a short sale closing with a written statement from their lender removing this threat. And remember, even if you get it in writing, make sure you under-

stand it completely so there are NO surprises down the road.

If you don’t get your lender to completely remove their ability to seek a deficiency, then Mark said it is better NOT to do the

short sale. The reason being that, in the state of Idaho, a lender must sue within 90 days of foreclosing on a home—a difficult

timeframe to work within. On a short sale, however, they have up to five years to sue if they don’t waive the deficiency. That gives them plenty of time to put their case together and come

after the former homeowner. While the lender may ask for a payment at closing from the seller in order to waive the defi-ciency, the good news is that most lenders are agreeing to waive it. But don’t expect it to just happen, or to happen with-

out other complications.

Another thing to consider when contemplating a short sale is second liens. If someone has a second loan on the property, it changes the rules. Second lien holders have an entirely differ-ent statute of limitations on how long they have to sue you after the sale of the home. Doing a short sale rather than a

foreclosure is highly recommended if you can get your first and second lien holders to agree to a payoff amount. It is

difficult, but possible, and--if done correctly--you re-

move all threats of getting sued.

If a homeowner is successful in doing a short sale on their home where the first and second lien holders waive their right to come after the unpaid debt, the next hurdle to jump is the 1099 tax form you will receive. This 1099 shows how much the lender lost due to the short sale of the property. If the amount, for example, is

$100,000, then in the world of taxes you have effective-ly had a capital gain of $100k added to your yearly in-come. This can create a huge tax liability that a home-owner who just lost their home didn’t expect. Be sure to speak with a CPA to understand the possible implica-tions of this tax liability before you short sell your prop-

erty.

There is IRS protection in place if you short sell your home before the end of 2012. This protection essentially

voids the income from the 1099 income reported by your lender. But it only applies to your primary resi-

dence and has other limitations, so read up.

The big take away I got from meeting with a foreclosure attor-ney was that, before someone commits to a short sale, foreclo-sure, loan modification, etc., they need to be sure they fully understand all their liabilities and rights. Speaking with a real estate attorney can help you get answers to your questions and

keep you out of any more hot water.

LEGAL INSIGHTS ON FORECLOSURES AND SHORT SALES

See the FHFA chart showing Home Price Appreciation over the

previous 4 quarters:

While FHFA showed Hawaii as the state with the biggest year

over year gain in home prices, showing a 10.3% increase for the

first quarter of 2012; Boise, Idaho appears to be well into its re-

covery with home prices currently up over 8% Year to Date, and

up 13% since April of 2011. According to Mike Turner, CEO of

Front Street Brokers in Boise, ―The Boise Housing Market is

bouncing back faster than I expected. The inventory of homes

for sale in Boise is at a 10-year low, and demand for housing is

up 26% since bottoming out in 2008. The low supply and high

demand is helping to push our home prices back up.‖

With a handful of cities, and even some entire states, showing

robust upturns in home prices compared to the national average,

the age-old saying that ―real estate is local‖ appears truer than

ever.

** By Agents of Front Street Brokers, a Boise Idaho Real Estate Com-

pany. Phone 208.740.5000

(Continued from page 1)

Chart provided by FHFA

First Sign of Home

Appreciation Since

2007

They say a picture is worth a thousand words, so look at these graphs and charts that indicate Boise

home prices are set to rise in 2012 and 2013. This is real data, not a hunch or rumor like many of

the market opinions these days.

The Boise area market is poised to change significantly in the near future due to segments of its

market disappearing at a rapid pace. To start, I want to focus on homes sold in the lowest price

range. For Boise, those are homes priced below $100,000. This was a segment almost non-existent

for most of the last decade; however, in 2010 and 2011 the Boise market was flooded with below

$100,000 home sales (See Chart 1). To put this in perspective, John Hennessey of Hennessey Ap-

praisals, calculated that in the last ten years, Ada County has sold 2,667 homes priced from $10,000

to $99,999 in MLS. But 1,258 of those sales have been in the last year. Nearly 50% of the sales

below $100,000 in the last 10+ years have occurred in the last twelve months. Shocking!

The surge in home sales in this segment of the market undoubtedly pulled the average Home Price

Statistic down in 2010 and 2011. It could also residually hurt the home price stats in Boise for

2012. However, the amount of available homes for sale in Boise priced below $120,000 is dropping

fast (See Chart 2). Soon there could be so few homes available in this price range that it no longer

weighs down the average and median area home price statistics like it has over the last couple of

years.

The vast majority of homes priced below $120,000 are distressed sales, generally foreclosures and short sales

(See Chart 3).

If the number of available foreclosures (as indicated in red) continues to drop, the average and median sales

price for homes in Boise (as indicated in green) will rise. Already you can see that the majority of non-

distressed (green) sales are priced significantly higher then the distressed sales, a trend that will continue as the

foreclosure market continues to shrink.

If you don’t think we have seen the worst of foreclosures in the Treasure Valley, have a look at Chart

4 which shows the Boise Metro area hit its peak in foreclosures back in mid to late 2010 (about three

years into the housing crisis). Now, eighteen months later, the foreclosure (REO) inventory is down

over 86%.

Even if Boise does see another wave of foreclosures hit the market, it should be protected by some-

thing it didn’t have two years ago: strong demand. Chart 5 shows how demand for homes in Boise is

coming back strong, and therefore would likely absorb any new influx of foreclosures very quickly,

minimizing or avoiding any negative effect to home prices.

New home construction has had six straight years of decline, as shown in yellow on Chart 5. Howev-

er, 2012 has seen new construction sales rise significantly (up over 120%) and is on pace to match the

new home sales numbers we saw in 2007.

With visual evidence to back up my forecast, I feel confident that the Boise real estate market is well

started on its turnaround and looks to make some substantial gains before the end of year.

Visually Forecasting - Boise Housing Market

[Data from Intermountain MLS]

Distressed vs Non-Distressed Sales (Chart is from of Hennessey Appraisals)

RED = Distressed, Green = Non-Distressed

Ada County Demand

[Existing Home Sales = Blue; New Construction Sales = Yellow]

Chart 1:

Chart 5:

Chart 4:

Chart 3:

Chart 2:

[Data from Intermountain MLS]

Analysts at Bank of America say it will take a year to clear excess delinquent inventory in the worst areas such as Miami and Chicago at the current sales rate. However, Phoenix and San Francisco markets should

only take 7 to 8 months.

The Foreclosure sales rate is improving and banks are moving through their inventories at a much faster

rate. According to Corelogic, here are the five states with the highest foreclosure rates:

Florida (12.0 %), New Jersey (6.6 %), Illinois (5.4 %), Nevada (5.0 %) and New York (4.9 %). The five

states with the lowest foreclosure rates were: Wyoming (0.7 %), Alaska (0.8 %), North Dakota (0.8 %), Ne-

braska (1.0 %) and Montana (1.4 %). See chart for the cities with the highest supply of delinquent inventory.

Florida and Illinois have bigger supplies of delinquent properties due in part because they are both judicial foreclosure states, rather than allowing Trustee Foreclosures like they do in California, Arizona, and Ida-ho. The analysts show that states that allow the Trustee Foreclosures are moving through their delinquent

inventories much quicker and will recover faster.

BofA analysts are predicting that home prices will bottom out in the 2nd quarter of 2012, then remain rather

flat through 2013, before surging in 2014. But keep in mind that this is a national prediction, not a local one. The saying ―real estate is local‖ has never been more accurate, as regional and local markets are showing radically different trends and

will likely recover on completely different timelines.

For example, the Boise ID Metro housing market has experienced a 54% drop in distressed inventory since its peak 18 months ago (See Chart). Idaho suffered large

price declines during the crash, but these low prices and Idaho being a Trustee Foreclosure state have helped

lenders and buyers move a lot of distressed inventory over the last year, which should help speed up the re-

covery considerably.

Six states continue to hold over 50% of all shadow inventory, which include: Florida, California, Illinois, New York, Texas and New Jersey. Current levels are 4 times higher than the peak of the housing in summer

of 2006.

The highest concentration of shadow inventory is for loans with loan balances be-

tween $100,000 and $125,000, see chart.

In Boise, ID, year to date over 50% of homes sales have been priced below $160,000. However, available inventory priced below $160,000 in Boise is more than 50% less than it was last year at this time, sitting at 2.5 months of invento-

ry. These kinds of stats have to lead to a higher median price for the area, especially

since foreclosures are declining so quickly.

Therefore, it is my professional opinion that home prices in the Boise ID region will increase significantly in 2012, as they are leading the rest of nation in the recovery by

at least 18 months.

Foreclosure Report | Shadow Inventory

The Bulk of the Shadow Inventory is for the lower Balance Loans Source: Corelogic Jan 2012

I’m a real estate guy. That’s kind of my thing. I look at real estate. I buy real estate. I talk about real estate. I help other people buy real estate. I think about real estate. When I catch a spare mo-ment, I sometimes end up reading about real es-tate. I recently read a blog article that identified the five most common characteristics of a real estate in-vestor. (According to the author.)

They were: 1. They are not victims. 2. They come from professional backgrounds. 3. They are extremely motivated. 4. They are not afraid of hard work. 5. They are constantly learning. Far be it from me to criticize what someone puts on his or her blog. Anyone who has tried to be a consistent blogger will know that it’s tough to come up with fresh content. So I give a little lee-way and say that really, this isn’t a wrong answer, but it sure is, um, unique? I have consumed my share of personal develop-ment material and I will agree that having a posi-tive outlook and tenacity are great characteristics. But I don’t want to be your life coach. For one, you probably can’t afford my hourly life coaching rate; but for two, I just want to sell you some real estate investments that will give you a great return on your money for the least amount of trouble on your part. If you think you might want to invest in real estate here are some characteris-tics I think you should have:

*Information. You need to under-

stand how to acquire real estate and how to profit from it. There are multi-ple ways of doing it.

*Resources. It’s going to take some

money. If you can qualify for an in-vestment loan, you can use that.

Cash will also work. You could also use your re-tirement account.

* Guts. I know, I didn’t want to go all Tony Rob-

bins on you, but in this case I just mean that if we find a deal that meets your investment goals, you have to have the guts to say “yes,” and make the offer. I could make up some additional arbitrary items to add to the list. But instead of doing that, I’ll leave it to you to decide if you have what it takes. If you want to be a real estate investor, you can be. If you aren’t sure how to get started, ask me. I prom-ise that I won’t make you eat fire, or walk across hot coals. At least not right at first.

Find out all about Short Sales at BoiseShortSaleHelp.com

Gavin McCaleb

208-890-0591 gavin@frontstreetbrokers.com

THE SORCERER’S APPRENTICE Do you have what it takes to be a Real Estate investor?

Boise Real Estate Radio

Fridays at Noon Hosted by Mike Turner and

Jared Cozby

of Front Street Brokers

89.9FM Listen Live at 89.9FM or on the

web at: RadioBoise.org

We want to give a big THANK YOU to

all of our awesome listeners who called in

and pledged during the KRBX Radiothon.

We raised a healthy chunk of money to

help keep community radio alive and kick-

ing. Thanks for letting us know you like

what we have to say!

Weekly Cash Flow Analysis

Of the Valley’s

Best Investment Property Deals

Receive the inside scoop on the best in-

vestment property deals including de-

tailed Cash Flow and ROI Assessments.

www.CashFlowBoise.com

BoiseShortSaleHelp.com

PAGE 13

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New million dollar luxury cabins

3 bedrooms, 3.5 bathrooms, 3,200 square feet, office, loft for the kids

Stay any time the schedule is open, whether for a night or a week, for one nominal cleaning fee: Year round beauty and activities to enjoy in

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OWN A SWEET TIMBERCREST CABIN IN MCCALL FOR JUST $68,000

CONTACT JARED COZBY

FRONT STREET BROKERS

208-740-5000

By Agents of Front Street Brokers

Outstanding news for new home construc-tion in Boise! Hennessy Appraisals and Jere

Webb Publishing both released data show-

ing a HUGE jump in new home construction

activity for the Treasure Valley. In fact, the

number of new home sales is up an incredi-

ble 100% for March and April 2012 com-

pared to the same months in 2011. After six

straight years of decline, that's a more than

welcomed percentage.

Costs for the new construction homes range

from $76 (Hubble Homes) a square foot to $160 a square foot (Syringa Homes), with

the bulk of the activity happening in the

$105-120/sq ft range. Subdivisions every-

where are popping up or expanding, includ-

ing lots of activity in Tuscany, Harris

Ranch, Hidden Springs, and Bridgetower.

Even if they're only building one home, it is

good to see such a lengthy list of Boise area

builders working again.

In February of 2011, there was a 12 month

inventory of available homes on the market-

-nearly twice what is considered a healthy

level. Currently, it's down to a 5 1/2 month

supply, and continuing to drop. Which

leaves local builders working hard to keep

up with the demand. If we stay on pace, our

new home sales levels could reach what

they were in 2002. That's money going to

builders, workers, and their families; money

going to building supply stores; and money

going into the local economy.

54%

75%

120%

108%

Read these and all the other Boise area Home Reviews at

FrontStreetBrokers.com

Group One

Luxury Downtown Condo

Keller Williams

Somerset Heights

Indoor Pool on Table Rock Rd.

INDEPENDENT HOME REVIEWS of the Latest Homes on the Market

at FRONT STREET BROKERS.COM

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Front Street Brokers

Historic North End Home

Keller Williams

Boise City Views

02 Marketing Group LLC

Hillcrest Golf Course Location

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Coldwell Banker Tomlinson-EME

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Keller Williams

Creekside in River Run

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Premier Properties Inc

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Waterfront Parade Home Luxury Estate on Short Sale

Silvercreek Realty

02 Marketing Group LLC

PAGE 15

The Ultimate Family Home: Established desirable neighborhood at the end of a pri-vate cul-de-sac, huge yard with playground and sport court. The home has very large

bedrooms, a home theater, an open layout, and it is in great condition. Walking dis-

tance to YMCA, Elementary, Middle, and High School. The perfect home for your

growing family. Big covered patio out back and plenty of room to play in the fully

fenced yard. Kitchen has convenient center island design, solid surface counters, fur-

niture-style cabinetry, and upgraded appliances. Other upgrades include wood floors,

decorative trim and molding, and built-ins. Overall the home has 5 beds, 3 baths,

4,417 sq ft on a roomy .42 acre lot with a 3 car garage.

Listed at $379,000. If you would like to schedule a tour of this or any of our

other homes, call Mike Turner, Front Street Brokers, 208-740-5000.

Cool downtown condo loft, located in Boise on 10th and

Main, in a historic building. Completely gutted and re-

modeled in 2009 with a ton of upgrades. This 2 bed-

room, 2 bath, 1,328 sq ft condo looks brand new, and

offers something unique and special for those seeking downtown living. The interior blends the best of warm,

sleek, and industrial. Extensive exposed brick, contem-

porary lighting, and wood flooring. The open kitchen has

cherry-stained cabinetry, granite counters, custom tile

and stainless steel appliances. Laundry room tucked into the master bath.

Located right upstairs from one of Boise’s best Italian restaurants, and one block

from the Saturday Farmers market and the heart of the city and all it has to offer in

shopping, culture, and dining. Listed attractively at $348,000.

LISTINGS

LUXURY

CONDO

ON 10TH

STREET

LUXURY

HOME AND

ACREAGE

IN EMMETT

FOOTHILLS

You will feel like you’re living in a magazine in this gorgeous Georgian-style home

nestled on a 6.25 acreage property in the scenic Emmett foothills. Enjoy being out-

side the city… but not too far outside!

Inside you’ll find 6,505 sq ft of the most luxurious finishes. 5 bedrooms, 4.5 baths, 3

car garage and RV parking. Fabulous entertaining spaces with plenty of room for guests. Family room, great room, and theater room with stadium-style seating.

Gourmet kitchen features a dramatic planked ceiling, custom cabinetry, professional

appliances, and huge eat-in island.

Outside, you’ll love taking in your country and hill views from the big wrap around

porch. Could also easily convert to a horse property and has irrigation available.

In the Boise/Eagle area, this would easily be a million dollar home–but, with the ben-

efit of a short drive, you get the luxury home AND the 6.25 acres for $737,000.

BOISE

LUXURY

FAMILY

HOME

5.25 Acres in the Heart of

Eagle Wine Country

Sandi Rubio moved to Boise from Seattle with her husband and two daughters, Bella (10) and Rosie (7), and couldn’t be happier! She loves that she is only three miles from the office, yet only 16 miles from the top of Bogus Basin. Where else but Boise could that happen? Sandi specializes in working with buyers and sellers, with a focus on luxury homes and investments in the downtown and North End markets. In her free time, Sandi sings and plays bass guitar in a band, and teaches Zumba and other fitness classes around town.

Sandi Rubio, Front Street Brokers Direct: (208) 850-3681 Sandi@FrontStreetBrokers.com Sandi Rubio

GET MOVING OUTSIDE! By Sandi Rubio,

Front Street Brokers

You've been indoors most of the winter, and finally you feel it -- the warmth of spring

and summer weather, calling you outside.

Why not take advantage of the call? Pleasant temperatures, the smell of spring

blooms and the beautiful landscape of the foothills can not only motivate you to exer-

cise, but help you enjoy it more.

But what should you do once you get out of doors? Here are my top picks for the

average person who is constantly battling the procrastination of getting regular exer-

cise back in your schedule. These are great activities that will help you to enjoy be-

ing outside at the same time you’re exercising your body and heart. Maybe you’ll

even have a little fun, too!

Walking

You say walking's too pedestrian? Actual-

ly, it's one of the best lifetime sports.

It's easy on the joints, you don't need a lot

of fancy equipment, and you can burn cal-

ories, even though it's a more modest

amount compared to some other activities.

250 calories per hour – walking on a flat

surface briskly

Sound daunting with not enough pay off?

The trick is to incorporate additional walk-

ing into your daily life and break the time

into several manageable spurts. Consider

walking the kids to school or the bus stop

in the morning, hoofing it to pick up a bag

of groceries or run errands at lunchtime,

and walking the dog or taking a stroll after

dinner each evening. You could easily

raise that calorie expenditure to 500 calo-

ries per day which is very significant.

Jogging/Running Jogging is terrific for your heart and lungs, and it improves your stamina. If you're

trying to lose weight, obviously running burns way more calories more quickly than

walking.

The key is to start slowly. The general rule is to increase your time or distance by no

more than 10% each week.

306 calories running for 30 minutes at 5 mph (a 12-minute mile).

Cycling Not only is cycling an excellent cardiovascular exercise but Boise is the ideal place

to do it. No matter where you live in the Treasure Valley, the foothills, Greenbelt,

and other free bike trails make it easy to add this exercise into your weekly routine.

While running tends to target the hamstrings (the muscles in the back of your thighs),

cycling uses the quadriceps (the muscles on the front of the thighs) more. Incorpo-

rating both of these exercises decreases the plateau effect and protects you from

overuse injuries. Especially shin splints, sore knees and ankles.

Swimming Swimming is a wonderful cardi-

ovascular conditioner that also

helps tone arms and legs, and

it's very easy on the joints.

I recommend purchasing the

$100 summer family pool pass

through Boise Parks and Rec.

Swimming outdoors in summer

even for just 30 minutes gives

you that “sun time” that so

many of us yearn for.

250 calories for 30 minutes

Hiking Hiking, unlike other activities, provides a relaxing atmosphere for a workout that

doesn't seem like a workout at all. Listening to the birds and a babbling brook, and

enjoying the cool breeze of the forest, provides a break from daily stresses.

Hiking is also a great sport to do along with a friend or spouse. But it does require

some preparation as far as scouting a location that fits your level of experience and

time frame. Check the Boise Rivers to Ridges website for recommended trails. 500 calories per hour

Kayaking If you’ve got some experience or know someone who does, consider hitting the wa-

ter and trying kayaking. Kayaking is primarily an upper-body sport, but it also is a

tremendous workout that targets the back and abdominals.

To prepare your body for kayaking, pay attention to working out your shoulders, abs,

and lower back. It's also important to work on your flexibility.

350 calories per hour

How You Can Easily and Affordably

Save Thousands in Interest

and Knock Years off Your Mortgage

By Bill Zimmerman

Since the housing downturn began around 2007,

most homeowners now view the mortgage on their

primary residence as it always should have been viewed – a significant liability to be reduced and,

where possible, paid-in-full. To help you along

your own path to lower mortgage debt, I'd like to share a free financial tip that will not only help you

personally, but also can be used as a little 'gem' to

share with others.

I'm sure at some time in the past since closing on

your most recent mortgage, most of you have prob-

ably received an "invitation" from your bank or lender to participate in a bi-weekly payment pro-

gram. The idea behind bi-weekly payments is not

new and is, in actuality, a good way to help you pay off your mortgage early and reduce the amount

of interest you ultimately pay the bank by thou-

sands of dollars.

Here's how it works: Basically, you're using the

calendar to your advantage. Instead of paying full

payments on a monthly basis, you'd pay half the normal payment amount very other week. Because

there are 52 weeks in a year, you'd make half your

regular monthly payment 26 times. That means you really make 13 full payments instead of the 12

you'd normally make just sending in your payment

on a monthly basis.

For example, a $150,000 30-yr. fixed mortgage at

4.75% on a bi-weekly payment program would

save a homeowner about $23,000 in interest over the life of the loan AND knock five years off the

total term. Not a bad way to use the calendar to

your advantage! Of course, the benefits are even greater at higher interest rates and with higher

mortgage balances.

Of course, as with every would-be free financial gift, banks are there to exploit it... As I see it, the

two basic problems with lender bi-weekly payment

offers are 1) they usually charge a 'set-up' fee of $200-400 (for doing what, exactly?!?!) and 2)

you're locked into a rigid payment program where

roughly half your monthly mortgage payment is

deducted every two weeks from your checking ac-count. That may not work so well for many with

tight budgets and limited dollars flowing through

checking accounts at widely varying amounts from week to week.

One of the advantages lenders and banks always tout is a bi-weekly payment program with automat-

ic checking withdrawal helps people by imposing

"forced financial discipline" which will help them

in the long run. Although it's true a bi-weekly pay-ment program is definitely beneficial over time

and, granted, there are certainly many people who

could benefit from a little forced financial disci-pline, there exists another solution that both ad-

dresses the financial discipline problem and… is

FREE!

Before I divulge, it's important to understand that

many of the lender-sponsored bi-weekly payment

plans DO NOT apply the mid-month payment to-ward the mortgage until the full month's payments

are received. So, you're really not getting the ben-

efit of saving extra days of interest by paying every other week, anyway! (don't you just love fine

print?!)

Instead of paying yet another bank fee for a bi-weekly payment service that might not function the

way you believe it will and places control of yet

another checking account withdrawal in your mort-gage lender's hands, allow me to share two ways to

do-it-yourself for free:

1) Simply take your current payment, divide it by

12, and add that small extra amount as an addition-

al principal payment to your monthly mortgage

payment or, 2) If you're afraid you'll forget or lack the self-

discipline to be consistent over time, simply set up

a "bill pay" option or a special savings account for this purpose at your favorite bank or credit union

and direct them to send your extra payment amount

directly to your mortgage company as a principal-

only payment on a specific day of the month. Be sure to check with your mortgage company on

their specific procedures for receiving and apply-

ing extra principal payments to be sure they're ap-plied correctly.

With the many different, and sometimes confusing, bank and mortgage lender offers targeted at home-

owners, my hope is this tip can help clarify one of

them while simultaneously providing a free do-it-

yourself alternative. Who says advice is only worth what you pay for it? Sometimes there really

is a free gem out there just waiting for you to find

it…

About the author: Bill Zimmerman is a residential mortgage originator and the Branch Manager for the Eagle, ID, location of Summit Mortgage Corporation (a direct lender based in Plymouth, MN). His 16 years experience in mortgage lending spans a career originating for both lenders and brokers, including co-ownership of a mortgage firm in Eagle from 2000-2008. In addition, Bill operates the local chapter of The Pinnacle Club for Realtors- a free membership for Treasure Valley real estate agents interested in improving their sales and marketing mastery through a continuing stream of quality infor-mation and inspiration from nationally renowned experts (www.ForIdahoRealtors.com). Mr. Zimmerman resides in NW Boise with his wonderful wife, Stephanie, and their seven fun, smart children. For comments or questions, he can be reached by phone (208-939-0002), email (bzimmerman@summit-mortgage.com) or online (www.zimmermanloans.com).

A Review by AK Turner

I finally made it to Cafe Vicino (va-CHEE-no). This little gem has been open for 5 years now, but it’s not near any of my usual haunts (it’s true, I’m not a Co-op patron), and therefore often out of sight and mind. Thankfully, it’s now on my radar. The restaurant is small, elegant and unpretentious. The service was fan-tastic. Our waitress wasn’t merely adequate, but appeared to genuinely enjoy and take pride in her job. In addition, this is one of those establish-ments that takes extraordinary pains to connect with and support their local community. They source their ingredients locally, give to communi-ty charities and attempt eco-friendliness. But who cares about any of that? Let’s talk food. A party of four, we started with gorgonzola-stuffed figs, wrapped with basil and prosciutto, drizzled with local honey. I had no expectations for what a highly decorated fig should taste like; it was pretty darn good. As a second appetizer, we each ordered a seared scallop on mashed sweet potato with spicy cilantro pesto. The scallops are ordered individually for

$4 each. I’ll be honest, I was nervous. Scallops easily rank in my top 5 fa-vorite foods, yet they are often overcooked, a practice I consider a Crime Against Humanity. Luckily, the folks at Cafe Vicino know what they are doing. The scallop was phenomenal. We tried not to lick our plates and agreed that on a return trip, we’d each consider ordering three scallops as an entre e. They were that good. The house salad exceeded expectations (though anything with feta is likely to exceed my expectations). Then came the entrees. Three of us ordered pasta dishes: cheese-filled ravioli topped with Bolognese; oven baked pasta layered with eggplant, portabello mushrooms, ricotta, che vre, Parmesan, & roasted peppers; and ricotta, sausage and spinach-filled cannelloni (each around $14). The rogue member of our group opt-ed for pan-fried oysters ($20). The pasta dishes were all very good. I can’t comment on the oysters, because Oyster Man decimated them before any of us carb-enthusiasts could pilfer from his plate. The menu offers a variety of other choices, including fish, risotto, lamb, quail, pork and chicken. They also have a few steaks, a T-bone and a rib eye, though at around $30 each, these are on the pricier side. Cafe Vicino is both small and popular, so consider making reservations and leave the kids at home. This is a great place to order a bottle of wine and take your time enjoying the dining experience. And whatever you do, make sure you try the scallops.

RESTAURANT REVIEW 808 W. Fort St. * (208) 472-1463 * www.CafeVicino.com

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877 W Front St, Boise ID 208.740.5000

June/July 2012 Events Sun Mon Tue Wed Thu Fri Sat

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PAGE 19

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Radio 89.9FM

12-1pm

Real Estate

Radio 89.9FM

12-1pm

Real Estate

Radio 89.9FM

12-1pm

Real Estate

Radio 89.9FM

12-1pm

Real Estate

Radio 89.9FM

Kegs4Cause 6:00 PM Payette

Brewing Company

Wine Tasting at Botanical Gardens, 2:00 PM

Renaissance Faire,

10 am

Eagle Island

Park

Family Snooze at the

Zoo Overnighter,

7:00 PM

Dia Frampton and

Scars on 45,

Knitting Factory, 8pm

12-1pm

The Writers’ Block

89.9FM

12-1pm

Real Estate

Radio 89.9FM

Idaho Botanical

Private Gardens

Tour, 8am-5pm

Wilco in concert,

Botanical Gar-

dens

6:30 PM

East End Market,

Bown Crossing,

10am-2pm

Drinking with Dead

Women Writers

Book Signing at

Chandlers 6-8pm

First Thursday

Boise Art Museum

Toddler Day

10 am

Family Movie Night

Settler’s Park, 8pm

Nickleback

Idaho Center

6:30 pm

Weiser Oldtime

Fiddle Competition

10 am

Joshua Radin,

Knitting Factory

7:30pm

Boise White-

water

Festival,

Ann Morrison

HAPPY

INDEPENDENCE

DAY!

HAPPY

FATHERS

DAY!

First Day

of

Summer

National

Chocolate

Day

Bastile

Day

Capital City

Public Market

8th St, 9:30 AM

Lyle Lovett

Botanical Garden

7pm

Alive After Five

5-8 pm

Meatloaf

in concert

Eagle River

Pavilion, 7pm

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