Summary:
Join hosts Joe and Makayla as they dive into the picturesque world of Coeur d'Alene, Idaho, with special guest Lea Williams from Tomlinson Sotheby's. Discover why Coeur d'Alene is not just a place to live, but a lifestyle to embrace. From stunning lakefront properties to vibrant local attractions, this episode uncovers the essence of North Idaho living.
Episode Highlights:
Lea Williams introduces the charm of Coeur d'Alene, Idaho, highlighting its proximity to Spokane and its array of recreational opportunities.
Insights into the current real estate market trends, including fluctuations in pricing and increased activity in 2024.
Demographics of buyers, ranging from retirees seeking a simpler life to families attracted by outdoor activities and quality education.
Average price points for homes in Coeur d'Alene, including insights into lakefront property values.
Recommendations for navigating the competitive market, emphasizing preparedness and flexibility.
Winter tourism attractions, from skiing to outdoor art exhibitions, showcasing the year-round appeal of Coeur d'Alene.
Lea's top restaurant picks, offering diverse culinary experiences with stunning lake views.
The unique approach of Lea and her husband, John, in assisting clients, blending real estate expertise with recreational guidance.
The versatility of Coeur d'Alene's housing options, catering to diverse lifestyle preferences.
Ready to explore the possibilities in Coeur d'Alene, Idaho ?Connect with Lea Williams and the LivPortland team at LivPortland.com for expert guidance and personalized real estate solutions.
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00:00:08:13 - 00:00:23:21
Joe Reitzug
Welcome to Off The Record Talking Real Estate with Joe and Makayla. If you're interested in the Portland, Oregon real estate market and want the unvarnished inside scoop, you've come to the right place. Thanks for giving us a listen.
00:00:23:23 - 00:00:45:23
Makayla Mast
Hello. Welcome. So today we have a very special guest. We're so excited to introduce you to her. Her name is Lea Williams and she's with Tomlinson Sotheby's over in Coeur d’Alene, Idaho, Northern Idaho area. And she's on today to tell us a little bit more about her marketplace and why Coeur d’Alene is an amazing place to live. So thank you, Leah.
00:00:46:05 - 00:00:47:16
Joe Reitzug
Thank you So much for your time.
00:00:47:18 - 00:00:51:03
Lea Williams
Thank You for having me. I'm glad to share. Love it.
00:00:51:05 - 00:00:59:08
Joe Reitzug
Yeah. Fantastic. So tell us a little bit about your area that you serve there. Is it far reaching or are you really centralized in Coeur d’Alene.
00:00:59:08 - 00:01:22:04
Lea Williams
So I love North Idaho, all of North Idaho. So we pretty much serve Coeur d’Alene , which is in Kootenai County, and that is kind of about a 20 minute drive from the Spokane border, you know, in Washington. So we're not that far Post fall, Rahdrum, Hayden and all the way up to Sandpoint as well. We cover that too.
00:01:22:09 - 00:01:28:09
Lea Williams
We have a lot of lakes, parks, mountains. So we feel like there's something for everybody all over here.
00:01:28:14 - 00:01:29:18
Joe Reitzug
Yeah.
00:01:29:20 - 00:01:33:02
Makayla Mast
That's great. And what are our current market trends like in your area?
00:01:33:04 - 00:02:01:15
Lea Williams
You know, that's interesting. I think we mirror a little bit of what the country's doing and we have had kind of 2023 was a rough year. Idaho had shut up so much in revenue. And in terms of the price appreciation and the sales that 2023, I think we saw with the interest rates going up, we saw the the prices going down because there was inventory sitting on the market a little longer.
00:02:01:17 - 00:02:26:00
Lea Williams
And we saw a lot of people just kind of pausing right now. In December, we saw quite a lot of people jumping back in the market with the thought that interest rates were going to be coming down this spring or in the summer. And I think we were up maybe 8% overall in December in terms of pendings. And then January, we're seeing quite a lot of activity.
00:02:26:00 - 00:02:37:22
Lea Williams
You know, here it is the end of January and wow, busier than we were last January by a long shot. I mean It is good. I'm very optimistic for 2024.
00:02:38:00 - 00:02:46:09
Joe Reitzug
We are, too. We're we're hoping for a much better year than 2023. We saw a lot of the same numbers that you're talking about in the Portland metro area.
00:02:46:09 - 00:02:56:16
Makayla Mast
So we had chatted a little bit about this earlier. But would you say most buyers are kind of retirees or people buying second homes or, you know, what does it look like for buyers?
00:02:56:16 - 00:03:25:19
Lea Williams
Yeah, that's a good question. You know, we get a lot of people retiring for a better quality of life. So I'd say our average age of the incoming people from out of state is probably 50 years old and older. And I think it's just they're looking for a simpler life, maybe out of a big city. But still, with all those amenities of recreation and things that they love to do hiking, boating, fishing, you know, whatever.
00:03:25:21 - 00:03:47:08
Lea Williams
And we do see some people with young families moving here as well, maybe not quite as many. I mean, they have to have a job that would fit here and plus maybe they can work from home. And actually during COVID saw a lot of people moving to Idaho just because of the, you know, the schools. Maybe they were shut somewhere else and they discovered they really loved Idaho.
00:03:47:08 - 00:03:58:09
Lea Williams
We were open, but I'd say mainly in the little bit older age range and we see a lot of second home buyers as well. So a lot of primary home buyers, but a lot of second home buyers too.
00:03:58:11 - 00:04:01:15
Joe Reitzug
So what's your average price point up there right now?
00:04:01:17 - 00:04:33:13
Lea Williams
that's a good question. So I would say the average is not too indicative of all of our price ranges, but the the medium is more in the six high six hundreds. I'd say you you can't get a really great like say, subdivision house if you've got kids in school for anywhere, I'd say between $600-900k you could probably get some pretty decent four bedrooms, almost 3000 square feet in a newer subdivision.
00:04:33:15 - 00:04:42:12
Lea Williams
But if you really want something a little nicer, you're going to have to spend over a million, you know? Yeah. Kind of lake views or mountain views or anything like that.
00:04:42:12 - 00:05:03:13
Joe Reitzug
And I have to ask what what's the minimum to get on the lake? To be on the lake. It's so beautiful there. We were talking before we went on camera here and myself and a couple of other families, my family and two others went up to Courtland and spent a week spent a week up there. We were just off the lake and we couldn't find anything on the lake, quite frankly.
00:05:03:15 - 00:05:08:09
Joe Reitzug
But we were just off the lake and had a boat. And boy is spectacular.
00:05:08:12 - 00:05:30:15
Lea Williams
Yeah, you know, I've been in Idaho for 20 years. I've been a broker at Sotheby's for 16 years. And the prices have radically changed in that timeline, even before COVID, you could probably get a lakefront home on one of the larger lakes for probably in the $700-800k.
00:05:30:18 - 00:05:32:16
Joe Reitzug
And this is pre-COVID, right?
00:05:32:18 - 00:06:00:10
Lea Williams
Yeah, pre-COVID pretty decent. You know, lakefront home, even with the price going down a little in 2023, you you really can't get much under a million. We do have 50 lakes within a our geographic area within a couple hours. So I mean we do have a lot of small lakes then you could probably get on a small lake for in the still under a million range for sure.
00:06:00:13 - 00:06:29:08
Lea Williams
But if you want anything with, say, at least three bedrooms, that's not just a tiny thousand foot cabin. You probably need to spend at least $1,000,000 -$3,000,000 and up in even that would get you a fixer. I would say most people looking I have several looking in the 2 million range. And in one of the closer in lakes like Hayden lake or Coeur d’Alene Lake, but not too far from a grocery store like, you know, within minutes.
00:06:29:08 - 00:06:55:10
Lea Williams
And gosh, it's hard under 2 million to find something that, you know, it is not too far of a drive for them. So we're I've got a couple of pending right now that are in that under 2 million. They're probably about 35 minutes to a grocery store and around a windy lake. But 30 minute drive. So if it's a summer only place, I think you can you can find something.
00:06:55:10 - 00:07:01:02
Lea Williams
But they range, you know, all the way up to, gosh, during COVID, I think one sold for 29 million.
00:07:01:04 - 00:07:03:00
Joe Reitzug
Well, I mean, gosh.
00:07:03:02 - 00:07:23:07
Lea Williams
There's a couple on the lake that sold last year in the 10 million range. I've got a couple listed in their 8 million range right now. And we're hoping this this spring they they go I haven't put them on the market yet but anyway so it's all over the board depending on what your budget and what your lifestyle desires are.
00:07:23:11 - 00:07:28:21
Makayla Mast
Is tourism still really popular in the winters? I know you guys obviously get a ton of snow.
00:07:29:01 - 00:07:54:10
Lea Williams
Of course, summer is like when Coeur d’Alene really shines, you know, it's just crazy beautiful. But the winter, you know, there are five ski resorts within an hour drive from here. So we do have lots of skiing. The largest one is Schweitzer up in Sandpoint. They do have a lot of winter activities that have actually picked up in the winter, such as we have an ice rink that's in its third year, an outdoor ice rink.
00:07:54:10 - 00:08:24:00
Lea Williams
Now, that's kind of a fun thing we have actually going on this weekend and last weekend, a winter light kind of art free art, family thing. It's an outdoor art extravaganza downtown and McEwan Park. And they have, of course, at Christmas time, they have the journey to the North Pole on the big cruises over the lake. Wildly popular, always sold out.
00:08:24:00 - 00:08:39:13
Lea Williams
You got to get tickets early and then people love to still go on the Centennial Trail. They love to go to all kinds of outdoor. There's still outdoor walking on the trails and stuff, so people do all that snowshoeing. There's parks.
00:08:39:15 - 00:08:51:06
Joe Reitzug
So what do what do buyers need to know when they visit? You know, you've got a new buyer in the town. What do they need to know about the marketplace and how to handle getting into their new home?
00:08:51:07 - 00:09:03:23
Lea Williams
Well, depending on where they are, I always like to let them know that they do need to plan for snow. Even though we have snow, we know it's coming. So the snow plows work great. We know that.
00:09:04:01 - 00:09:06:00
Joe Reitzug
You guys are prepared compared to us.
00:09:06:02 - 00:09:29:14
Lea Williams
Yeah, Yeah, we're very prepared. Yeah. There's actually in North Idaho, since I've lived here, there's never been a day I can't get to the grocery store. I mean, they do take care of the roads, so they try not to close the schools. But you do want to have either snow tires or four wheel drive or something just so you feel a little safer.
00:09:29:16 - 00:09:52:03
Lea Williams
The temperature doesn't drop below 20, although a couple of weeks ago we had, you know, zero degree minus weather, which was really odd, cold snap. But I like to tell people to enjoy every season, try to find something you love to do in every season, because we do have the full four seasons, which is so great. You know, you can really look forward to every season.
00:09:52:03 - 00:10:14:09
Lea Williams
And in the winter I tell people, Yeah, just definitely try to go up to the mountains and enjoy the beauty. Even if you don't ski or snowshoe, you can take the lifts up to the restaurant. You know, there's a lot of restaurants even you can go to here just to kind of look around. We have an art walk downtown every I think it's the second Friday of the month in downtown Coeur d’Alene
00:10:14:11 - 00:10:20:05
Lea Williams
You know, all winter long. It's you know, it's just coats all the time and people go out for wine and walking.
00:10:20:05 - 00:10:33:22
Joe Reitzug
And how competitive is it right now if someone comes in, you know, let's say they've got 1000000 to 1000003, are they going to be in competition with other buyers? Is your inventory still at that point where it's it's.
00:10:34:00 - 00:11:03:23
Lea Williams
yeah, Yes, Yes. So for buyers looking for real estate, for sure, they should be ready. Of course, you know, preapproved or ready to go. We have seen in the last year a lot of contingent sales where they have to sell at home first in order to buy. That is so hard because the competition is picking up for buyers looking just in the last couple of months and it is going to be a little harder for them to find something if they have a home sale contingency.
00:11:03:23 - 00:11:23:21
Lea Williams
If they have a backup plan, you know, like a bridge loan, or they can do financing, that's better. Or of course, cash. We actually have a large percentage of our sales in our market, probably 40%, which is high in cash sales, too. But I would say just be ready to go. You know, don't hesitate if you find something you like because the inventory is light.
00:11:23:21 - 00:11:52:19
Lea Williams
And if you see something you like, you know what they say, you know, marry the house and date the rate. So yeah, you can always refi later. Just if you see something you like, go for it, you know, and just worry about the rate later. And so I I've had so many times when you know I've got some listings and they'll be sitting there for a couple of months, you know, with people looking but they're not really quite in the market or ready or they don't think they're ready.
00:11:52:19 - 00:12:03:01
Lea Williams
And then they come back, their agent calls me and goes, okay, you know, we're ready to make an offer. And I'm like, we just accepted one yesterday, you know, or something like that.
00:12:03:03 - 00:12:04:18
Joe Reitzug
Murphy's Law, Right? Murphy's Law.
00:12:04:18 - 00:12:26:03
Lea Williams
Yeah. So and, you know, these people have been good. but it was on the market for, you know, it's just. Yeah, yeah. Murphy's Law. You just don't know. Yeah. And I do feel like more sellers are going to be putting their homes on the market this year because last year they either priced it too high or they feel like there's going to be more buyers in town.
00:12:26:03 - 00:12:39:02
Lea Williams
So now they have the opportunity to move up, move down right sized. And I can already feel that coming where people are starting to think, okay, this is the year, you know, I can go now, move to where my grandkids are.
00:12:39:02 - 00:12:42:00
Joe Reitzug
Or the timing feels right for a lot more people, doesn't it?
00:12:42:00 - 00:13:08:04
Lea Williams
Yeah, And they're not as scared to give up their 3% rate or whatever they have. Yeah, because now you're kind of hovering in the sixes and they can maybe buy down into the fives or they can cash out and downsize and get something smaller somewhere else. A lot of people might move. Usually the number one reason why I hear sellers leaving are the grandkids or if they live in another state.
00:13:08:06 - 00:13:08:16
Lea Williams
Yeah.
00:13:08:17 - 00:13:09:10
Joe Reitzug
Yeah,
00:13:09:10 - 00:13:09:16
Makayla Mast
That makes sense.
00:13:09:16 - 00:13:11:08
Joe Reitzug
That's a big one.
00:13:11:10 - 00:13:17:04
Makayla Mast
So we have to ask, what is your favorite restaurant in town? What would be your best recommend?
00:13:17:04 - 00:13:20:04
Joe Reitzug
What's your recommendation for someone showing up to court?
00:13:20:04 - 00:13:42:19
Lea Williams
Lane So it depends on what they're looking for, but we have a lot of really good choices. You know, if they really like five star kind of service, of course, I always recommend Beverly's at the top of the resort and they have the best view of the lake. And really, I think five star dining, if they're looking for something casual or something a little bit more.
00:13:42:20 - 00:13:59:11
Lea Williams
You know, I want to say authentic. I love Tony's on the lake. You can go any time of year. And they have Italian food and they recently upgraded it. They also have a their own dock. So in the summer you can go by boat as well, but you can just drive there and they're open year round. And I just love their food.
00:13:59:11 - 00:14:00:02
Lea Williams
I just love it.
00:14:00:05 - 00:14:05:01
Joe Reitzug
We went there when we were in town. It was wonderful.
00:14:05:03 - 00:14:24:07
Lea Williams
That someone recommended that to you. You know, they did in the summer. There's so many places to go to. I like for a casual, just kind of like, you know, walking around the park kind of thing. Downtown, , which is right by the Third Street Marine launch, they're right on the water and they have really good fish tacos.
00:14:24:07 - 00:14:40:17
Lea Williams
And they usually have like some music playing outside and it's just kind of like a walk up and order your food and go sit out at a table kind of place overlooking the lake. I think that's really, really a fun place to go to. And one of my places I really like. I guess you could go there in the winter too.
00:14:40:17 - 00:15:01:09
Lea Williams
I don't go as much in the winter, but I like the floating green overlooking the floating green golf hole. Yeah, at the Coeur d’Alene Resort golf course. A lot of people think it's private, but it's actually a public restaurant open to the public. wow. That's where the pro shop is, too. So you could pick up like, a little floating green golf ball souvenir.
00:15:01:09 - 00:15:10:18
Lea Williams
Yeah, whatever. But their outdoor patio is, I think, the best on the lake in the summer sunset time, watching people try to hit the green.
00:15:10:20 - 00:15:11:16
Joe Reitzug
Yeah, that's.
00:15:11:16 - 00:15:12:05
Makayla Mast
Awesome
00:15:12:07 - 00:15:15:18
Lea Williams
So I know I didn't just give you one. It's, you know.
00:15:15:18 - 00:15:16:23
Makayla Mast
You get more, the better.
00:15:17:02 - 00:15:20:02
Joe Reitzug
The better. That's fantastic. Yeah. So yeah.
00:15:20:02 - 00:15:20:13
Lea Williams
There's a lot.
00:15:20:13 - 00:15:25:03
Joe Reitzug
To do. Your business is you. I think your husband is licensed as well. Is that right?
00:15:25:04 - 00:15:50:22
Lea Williams
Yeah. So my husband John, if he was here, he's actually out showing property. But my husband, John, he actually is been licensed longer and he's also a broker. He's also covers Spokane. So if someone wants to look across the border to show them property there. But he's really the best boat driver. So if you want to go look at waterfront, he actually is it's great to go show by by, you know.
00:15:51:00 - 00:15:52:01
Joe Reitzug
that sounds amazing.
00:15:52:01 - 00:15:52:15
Makayla Mast
It does.
00:15:52:15 - 00:16:15:21
Lea Williams
You imagine you've actually sold a lot of properties showing property on the water. It's actually faster because if you have to go from one end of Coeur d’Alene Lake to the complete Harrison opposite side, you'd almost like by car have to drive all the way back around the lake. But by boat you can go look at some on the west side of the lake and then you just jet over and you go look at the east side. So that's cool.
00:16:15:21 - 00:16:17:03
Makayla Mast
So finally, gosh.
00:16:17:06 - 00:16:22:01
Lea Williams
It's a beautiful day. It's just like there's nothing better. You know, talk about.
00:16:22:01 - 00:16:26:00
Makayla Mast
A way to sell a property than to be on a boat and.
00:16:26:00 - 00:16:31:04
Joe Reitzug
Who's not going to be in a good mood? Who's going to be, you know, grumpy when they're getting.
00:16:31:04 - 00:16:32:08
Lea Williams
Yes, I'll take it.
00:16:32:11 - 00:16:34:13
Joe Reitzug
Chauffeured around the lake like that. Yeah, that's.
00:16:34:13 - 00:16:54:01
Lea Williams
Fantastic. He's also what I call our recreational specialist, which, you know, he plays golf pickleball, tennis, snow skis, snowboards, play. You know, is out there on the trails, boats, water skis. So I'm sure there's something I miss there.
00:16:54:04 - 00:16:55:04
Joe Reitzug
But he's busy.
00:16:55:05 - 00:17:15:07
Lea Williams
Someone has. Yeah. fishes. You know, let's fly fishing. Fishing, you know. But if someone has a passion, you know, and they want to find out how to do it, where to do it. And John, John's a guy. John and John will go and take him. I'm going to give you a little picture. Okay. This is a Christmas card from a while ago, but that's him right there.
00:17:15:09 - 00:17:17:05
Lea Williams
Yeah. Those are our kiddos that are.
00:17:17:05 - 00:17:18:05
Joe Reitzug
Fantastic.
00:17:18:05 - 00:17:18:16
Makayla Mast
Cute
00:17:18:18 - 00:17:25:04
Lea Williams
So yeah, definitely. And then we have a licensed assistant and she helps with all our marketing and our listings and things like that as well.
00:17:25:04 - 00:17:26:22
Joe Reitzug
So fantastic.
00:17:27:00 - 00:17:28:05
Makayla Mast
That's great.
00:17:28:07 - 00:17:48:23
Lea Williams
Love it. We love the Coeur d’Alene lifestyle, so we can definitely show people whatever, whatever their hearts desires. And there's something for everybody here, you know, I feel like there's a lot of housing options from condos to single family homes to acreage to mountain to lake. You know, a lot of people ask me, well, what's the best area? You know?
00:17:48:23 - 00:18:07:01
Lea Williams
Well, it really depends on lifestyle, right? What do you want to do in life? And then we could kind of help narrow in on what the best place and property might be for them, because there's a plethora of options, which is great. You know, and all different price ranges.
00:18:07:07 - 00:18:08:11
Joe Reitzug
That's fantastic.
00:18:08:13 - 00:18:11:10
Makayla Mast
Well, you're making me want to go right now, I think.
00:18:11:14 - 00:18:18:14
Lea Williams
I think I'll go to one of the restaurants. You play golf, I'll take a dolphin.
00:18:18:16 - 00:18:42:09
Joe Reitzug
We really appreciate your time, Leah. You are the best. And any of our brokers in our network who are looking to place their clients in Coeur d’Alene Spokane, please reach out to Leah and her husband. I know they will take great care of you and we are so appreciative of your time today. Thank you so much for giving us an insight and letting me guess.
00:18:42:11 - 00:18:45:18
Lea Williams
Yeah, thank you for letting me talk about it. I love it. So this.
00:18:45:18 - 00:18:48:03
Makayla Mast
Is great. Yes. Thanks again, Leah.
00:18:48:05 - 00:18:48:15
Joe Reitzug
Thank you.
00:18:48:23 - 00:18:50:21
Joe Reitzug
You guys have a good rest of the day.
00:18:53:00 - 00:19:06:00
Makayla Mast
Thanks for joining us today. If you're interested in finding out more about Joe, myself or the LivPortland team, you can go to LivPortland.com. Thanks for giving us a listen and see you next time on the off the Record podcast.
