I project Jan – March to be the best buying opportunities for upper end homes in the cities of Boise and Eagle that we have seen in over a decade – but, don’t wait too long. Inventories are shrinking daily so get-a-movin if you want a bargain. “But Darrin I have a house to sell in Boise first and now’s not the best time.” I hear clients say this all the time. My answer is in the form of a simple question. What if I can show you how you can make $75,000 - $100,000 by selling low and buying-up? Would you be interested? Answer: YES. Ok – here is how it works. We sell your $350,000 house that you thought was worth $375,000 at the top of the market a year ago. We put that on the market for $325,000 to get it sold fast - right now. Audible sigh and slight groan: Now I show them 4-6 homes in the 700-900k range that I know are valued higher or could be purchased at bargain prices - as much as $200,000 under market highs. Big smile and “That’s cool!” comment. Now – all this sounds easy but it requires extensive market knowledge of the Boise and Eagle Idaho real estate and experience in negotiating with banks, builders and attorneys. . When I say experience I mean more than a decade as Realtor. Remember 80% of all Realtors have never worked in a market like we have now. That was about eight years ago. So don’t you be the guinea pig. And by market knowledge your agent should be able to demonstrate why a property is a good value and why it is a good investment for you and your family. I have just sketched out a few basics here. Feel free to drop me a line or leave a comment if you have general question or if you would like to talk about your personal goal.
I project Jan – March to be the best buying opportunities for upper end homes in the cities of Boise and Eagle that we have seen in over a decade – but, don’t wait too long. Inventories are shrinking daily so get-a-movin if you want a bargain. “But Darrin I have a house to sell in Boise first and now’s not the best time.” I hear clients say this all the time. My answer is in the form of a simple question. What if I can show you how you can make $75,000 - $100,000 by selling low and buying-up? Would you be interested? Answer: YES. Ok – here is how it works. We sell your $350,000 house that you thought was worth $375,000 at the top of the market a year ago. We put that on the market for $325,000 to get it sold fast - right now. Audible sigh and slight groan: Now I show them 4-6 homes in the 700-900k range that I know are valued higher or could be purchased at bargain prices - as much as $200,000 under market highs. Big smile and “That’s cool!” comment.
Now – all this sounds easy but it requires extensive market knowledge of the Boise and Eagle Idaho real estate and experience in negotiating with banks, builders and attorneys. . When I say experience I mean more than a decade as Realtor. Remember 80% of all Realtors have never worked in a market like we have now. That was about eight years ago. So don’t you be the guinea pig. And by market knowledge your agent should be able to demonstrate why a property is a good value and why it is a good investment for you and your family.
I have just sketched out a few basics here. Feel free to drop me a line or leave a comment if you have general question or if you would like to talk about your personal goal.
We have seen an increase of lease up rates this December for single family rental homes. In the first week of December seven new leases were signed. These were all for single family homes in the $950-$1,250 rent range. This is a significant increase in activity over the months of September and October
Yep – that’s right! If you have been watching or reading the news you are likely thinking I have lost my mind. The media often forgets to mention local stats on residential real estate and only regurgitates the same national stories over and over again. Always stressing the worst possible news, this is often thousands of miles away. The good news is that the total number of homes sold in Ada County in 2007 will be the 5th best ever in this County with well over 6,500 home sales. Ada County includes the cities of Boise, Eagle, Meridian, Garden City and Kuna. Also, did you know that Idaho is ranked the 6th highest in appreciation nationwide? The percent change in house prices in Idaho is up 6.87% (6th in the nation). Boise is at 4.46% for the year (74th in the nation) and flat for the 3rd QTR at -0.02%. See below (source Office of Federal Housing Enterprise Oversight 11/29/2007)
Yep – that’s right! If you have been watching or reading the news you are likely thinking I have lost my mind. The media often forgets to mention local stats on residential real estate and only regurgitates the same national stories over and over again. Always stressing the worst possible news, this is often thousands of miles away. The good news is that the total number of homes sold in Ada County in 2007 will be the 5th best ever in this County with well over 6,500 home sales. Ada County includes the cities of Boise, Eagle, Meridian, Garden City and Kuna.
Also, did you know that Idaho is ranked the 6th highest in appreciation nationwide? The percent change in house prices in Idaho is up 6.87% (6th in the nation). Boise is at 4.46% for the year (74th in the nation) and flat for the 3rd QTR at -0.02%. See below (source Office of Federal Housing Enterprise Oversight 11/29/2007)
The term “foreclosure” is often thrown around these days. You hear stats like “Foreclosure in Idaho increase. The October figure represents a 157% hike from the same time last year” This Nov 30, 2007 Idaho Statesman article is technically correct however in context it’s out of whack. Just to illustrate this if you go from one foreclosure to three you have a 300% increase. Granted foreclosure rates have gone up but in a super heated market foreclosure rates are almost nonexistent. So any comparison to 2005 or 2006 is an apples and oranges comparison. The foreclosure rate in Idaho is at 1%. Ranking Idaho 24th in the nation. See the Relative Frequency of Foreclosure Filings graph below.