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Is it the right time to buy a new home in Boise now? Maybe. Maybe not!
In the spring of 2013 Boise home sales started out with a bang and then things sort of fizzled. Now we are in the spring of 2014 and things are picking up again.
Read below. I have been the most negative Realtor® around. I sold all of my investment real estate between 1998 and 2002. A little early but I was right. Now for the first time in years renting is not cheaper than a home payment. Now may or may not be the right time to buy for you. But if you have been considering it, now is the time to get an automatic search going for what your dream home would be. Click here to start just browsing Boise Homes for sale. And All of the Treasure Valley.
Over the past 8 years many people have thought I must be nuts as a Realtor® because instead of the usual "this is the best time ever to buy a home," I have often said, I don't know! Things look pretty bad. I sure would not be buying to flip houses. I have been pretty negative and cautious about buying. I could have sold people the idea that it is a buyer's market like lots of Realtor® did, way to prematurely. But I didn't and I lost or postponed potential buyers because of that honest assessment. Read my posting the market is sick below. But NOW for the first time in years my opinion is changing! There are less existing and new homes on the market than there have been for years. Now approaching August 2010 existing homes sales have been up for the past three months in a row. This is the first time in years that home sales year over year are going up! Real estate sales are cyclical. The upturn historically starts when the economy is bad. It is a leading indicator. As more people recognize what is happening they will again be leaving the rental market to buy their own homes. This time is different though. In the last bad recession of the late 1970s and early 1980s interest rates were as high as 18% for home loans. Payments for a $50,000 home were higher then than for a $175,000 home now. Prices have dropped in the Boise area up to 50% from 2005 prices. This could be the best time to buy that we will see for years to come. 40% to 50% discounts and 5% interest are making this truly the most affordable time to buy in a baby boomer's lifetime. Call Jon Gosche at 208-870-2115 or one of our agents found on the left and have us set up a specific home search for you. You will love it!
Inventory is dropping and home sales have been UP for the last couple of months (June July 2009). Prices are flattening and even going up a bit. We still have lots of short sales and foreclosures on the market but that is going to change as time goes on. This just might be the time to start looking. I won't go as far as the ReMax commercials showing people kicking themselves for not buying now. But they just could be right. If you are thinking about buying please call me and I will set you up with one of the best real estate agents in town. 208-870-2115. We will get you on an automatic search so you can be the first to see new listings, price drops and more.
Plummeting Home Values and Sales in Boise and Canyon Counties!
It might be the best time in years to move up to that bigger better home in Boise! Investors say the best time to buy is when there is blood in the streets.
Don't loose your be foreclosed on home because you or your real estate agent don't know what a short sale is and how to do one! Click and learn. But be carful. Click on the links to mortgage and foreclosure fraud and foreclosure rescue plans.
The time to move up in Boise may have never been better than now.
Why time to move up? Because the market for lower priced homes is higher than for higher priced homes in the Boise area. The over $300,000 market is the weakest. Even if you sell your starter or second tier home for less than you may have gotten last year you can definitely get a lot more for $400,000 than last year. So if you are thinking of moving up now is probably a good time and waiting may allow the upper end to start heating up again. Inventory is dropping. We have noticed that a few months ago we could buy under asking price from builders. That has changed. CBH and others have dropped their asking prices and we have noticed they aren't taking the low offers anymore. Builders are building less and new home inventory is starting to drop. So call one of the agents on the tab on the left and have them send you searches for comparable homes sold and for sale similar to yours and another for an area and price range or criteria set that you are interested in. Let us help you analyze the market and see if now is the time for you to move up!
The article below was written in the late fall of 2006. The good news is what you read below is changing back to the better for Boise Real Estate Sellers! Lots of buyers are looking again. But they are looking for bargains. You need the right Boise Real Estate information to get top dollar for your home.
How to buy OR sell a home or Real Estate in Boise in a BUYER'S Market?
How to get a home bargain price in Boise, Eagle, Meridian or Nampa Idaho:
The Boise, Meridian Idaho Real Estate Market is sick. But there IS a house doctor in Boise!
The tide is turning in the real estate market in Boise and most places in America. In 2005 you put your home on the market in Boise, Eagle, Meridian Idaho or the surrounding area and bang! It was Sold! Now there record numbers of homes for sale. Spooked builders are dropping prices, and taking low offers. There are hundreds of short sale and foreclosed property for sale
Many sellers STILL haven't quite realized what is happening yet! While a couple of months ago Realtors® were still pricing at or above the last highest comparable sold homes, now they are sitting there. Seller's are getting frustrated, impatient with their agents, and bewildered because things have been going SO fast. Real Estate markets change. Over the past few months many amateurs as well as many of the newer professionals who have never seen a down market were gobbling up property! But now you can rent for half what it costs to buy.
People like me have sold all of their real estate, are accumulating cash and waiting for the bargains to begin. (This has happened! There are some real bargains!) That is why now IF YOU NEED TO SELL you NEED a seasoned experienced Broker or agent who has been through up and down markets. It takes more than sticking up a sign now to get top dollar for your home. If you need to sell you need an accurate comparative market analysis that is current. You need a lot of traffic! You need to be priced right and ADVERTISED right! You need to negotiate right because buyer's are becoming aware that it is now a BUYER'S market in Boise and many other places.
If you are a buyer and need or want to buy, you too need a veteran Real Estate professional. And I don't mean sales person! You need a real estate consultant. Someone who buys and sells a lot of their own personal property.
In a hot real estate market like we have had for the past few years you couldn't go wrong. People paid too much for homes, but sold them for more to other people who paid too much! But the greater fool theory doesn't work forever. It does, however, give some the opportunity to make a fortune in Real Estate.
Don't spend hundreds of dollars going to Real Estate seminars by real estate gurus. Many of them have turned out to be frauds and many have gone BROKE! They got a lot of people into this mess in the first place! I retired from my first career (which I loved) at age 46. I was able to because of the Real Estate that I bought and sold. I have lived in Idaho almost all of my life. I started in Boise, lived in the Sun Valley area for 20 years and now I have a home in Boise and one near Idaho City. I Started my Real Estate Company because I love working with people as I always have. If you are thinking of buying, selling, investing please call me. It is times like these that will make you or break you. I am here to help. Call me at 208-870-2115 before you do anything in Idaho with Real Estate!
Most buyers look for homes on the internet. This is the only Boise Idaho Real Estate page that I have found that encourages you to look at our WEB STATS! Click on it and look! Where do you want to be listed? With agents that spend all their time looking for sellers? We spend 90% of our time looking for BUYERS! Click here and look at our web usage! Notice that hits are not the same as visits. Visits are individual users. Hits are the number of times they click on something on the web. Before you list or pay a For Sale Buy Owner fee call me. 208-870-2115. If you are considering selling please click the sell your home button on the left!