Posts Tagged ‘Boise Area’
I;m moving to Boise Idaho, how is Boise, how is the traffic there, are they any Hispanics living there, I’m Mexican. Is there anything to do there? Whats a nice place to live in the Boise area? The reason why I’m moving there is because of my job.
With home prices lower then thay have been in years now is the time to grab up your dream retirement home in the beautiful state of Idaho. The fact is that the housing slump is going to end just as it always have and in a few short years record real estate price increases will replace todays dismal news headlines as the news of the day.
This means that the time you spend procrastinating is time that could be well spent looking for and preparing your retirement dream home in Idaho. In fact, in the greater Boise area, real estate prices never did slump but rather have been on the rise even through the present recession due to a steady influx of retiring baby boomer’s.
With the median price on a two bedroom home in the state of Idaho now standing at $200,000 and appreciation averaging at 12% for the entire state, not only is Idaho proving to be a beautiful place to live but also a great and “safe” place to put your property investment dollar.
The city of Idaho Falls is just one hours drive from Yellowstone national park and one hour away from Grand Titon national Park which makes it an ideal city for a retired couple with an RV and adventuresome spirits to call home.
Boise Idaho has for years received high ranking in numerous life style publications as one of the better small cities in the U.S. to live. Its home to BSU and is known for still retaining its small town feel and ambiance. Idaho is fast becoming the prime destination of California “refugees” who have grown tired of the traffic and high cost of living and are “cashing out” of the volatile California real estate market for a better standard of living in Idaho.
If you were to believe all that you hear on the news regarding home sales in the U.S it would seem that the market across the board has gone completely flat. The fact is however, that there are real estate market areas that have taken less of a hit and also there are some areas that have fared quite well through it all.
Idaho and the greater Boise area in particular is one real estate market area that has experienced a steady appreciation rate of 12%. just this last year. The reasons for its buoyancy are many but the most immediatly noticeable to the naked eye is that Idaho in general and most particularly Boise Idaho is beautiful and still quite an affordable place to live.
Of course, the best way to find the particular home that you are looking for is through an Idaho MLS or “multiple listing service” because they simply are going to offer the most choices for you to select from.
This is very important because if you are coming from a market area such as California or any of the other high priced real estate market areas in the U.S., you are going to have a far more to select from then you are used to.
With the average price on a two bedroom home running in the area of $200,000 in the greater Boise area you are will quickly see that you will get far more bang for your buck then you may have been previously used to.
If you are preparing to sell and are considering selling FSBO or “for sale by owner” then there are a few facts that you should consider. Studies have shown that only 20% of these types of sellers actually end up with a buyer this way due to the amount of BS that FSBO sellers have to put up with from potential buyers that want to bargain. This is why it is best to list with an Idaho real estate MLS right from the start and avoid the FSBO BS.
A lot of hard lessons have been learned in recent years about buying homes in boom-to- bust real estate markets in the U.S. Too many people who have been tolerating living in crime ridden cities all over the U.S. in the hopes of quick profits on their homes, have awoken to see all of their sacrifice was for not. Now they are being told that a recovery is coming, but it could take years and this is not good news for retirees who just don’t have years to wait.
A Place to Call Home
It was back in 2004 that the Wall Street Journal designated Boise Idaho as a “retirees oasis” and very little has changed since then. With the median price of a single family, detached home in the greater Boise area still averaging in the mid-$100,000′s, now is the time to take a good look at Boise Idaho as a potential place to call home.
What is it that Makes Boise Idaho and the greater Boise area such a desirable place to live and invest in? Its the little things, such as a low crime rate, well maintained tree lines streets and a healthy expanding business climate, along with an even steady, maintainable incline in real estate values, that are catching the eye of more and more home buyers.
Awakening Lost Dreams
Another enticement still, is that room for growth on its perimeters means that the dream to own acreage that so many people have had to let go, can be once again revived and in fact achieved. However; as anyone who has previously lived in up and coming growth markets like Boise knows, these types of opportunities don’t last forever. For it is only the visionaries who have the insight to act early, who reap the lions share of the financial rewards.
It seems that every time a person watches the latest news reports on real estate in the U.S. the news is bad. The fact of the matter, is that the entire U.S. real estate market has not gone to hell in a hand basket as the news reporters would like to have you believe.
Just as some market areas have taken a hit worse then the national average, so too have certain market areas fared better. In fact, some market areas have thrived due to business as well as demographic realities that prevail in those certain areas.
One of those real estate markets is Manhattan commercial real estate, that is in fact booming right now. Still one more real estate market niche is Idaho investment property, with some areas such as the greater Boise area doing better than others.
In fact, during this last year while markets across the U.S. slid in a steady decline, the greater Boise Idaho showed an average 12% appreciation on real estate investments. The biggest reason for the growth in the greater Boise area and Idaho in general, is due to the influx of retiring baby bloomers who have targeted Idaho as prime retirement country.
Cool-to-mild climate and plenty of elbow room along with a relatively low cost of living are just a few of the things that make the Idaho investment property market a viable alternative to other areas of the country. Still one other factor is stability in its lower yet far more consistent anual land and home appreciation figures that don’t suffer from the downward adjustments that so many other many market areas tend to do.
All across the U.S. people are now finding out the hard way that excessive appreciation in market areas is great until they get stuck in an adjustment period in a home that they can’t sell that is losing its value as each day passes.
The Boise real estate market has been a great investment during the last years and it seems like the numbers are getting low enough to begin to lure stockholders back.
Some areas of the Boise real estate market are holding value better than others.
The Southeast Boise real estate market is doing pretty well considering the times and if you’re looking to buy in the SE Boise area, you most likely will not get almost as good of a deal as you would if you were to go more to the west.
Homes that are closer to the Downtown area are keeping their values to a higher degree. Location, location, location is what you mostly hear with the Boise real estate market, and it truly comes into play in there down market times. So, you may not quite get the deals that you may expect if you would like to buy in NE Boise or N. Boise.
Now let’s rap about the really good areas to buy if you would like a deal. W. Meridian, Idaho is a place that you can discover some great buys that are still in a convenient location. There’s a ton of new construction there that is sitting empty and homes that are going to foreclosure. Some great deals will be in subdivisions like Supreme , Lochsa Falls, and Bridgetower Subdivisions.
The Star and Middleton, which area about 10 miles east of the first market are truly ripe for the picking. Due to these towns being out of the way a bit and a large amount of new construction that is vacant, you’ll be able to find some glorious buys here. For instance, I latterly showed a home that was on the marketplace for 1.1 million that are on the marketplace for less than 500k, and homes that were originally 400k that you might pick up for 250k-300k.
Foreclosed (bank owned or R.E.O.) are bounteous, however plenty of them require investing in repairs, new carpet, paint, and general rehabilitation. Some are left in exceptional condition and others are missing all fixtures and smell like pet urine. The interest rates are joined with lower home costs. On Fri. some banks were offering 5.25% for typical purchases. A great rating for your credit is over 720 and if you put down twenty p.c. You’ll be getting the better rates.
There is financing available out there. The options are less engaging for investment purchase and refinance, but I found a bank that is offering fantastic deals. You can even find 100% loans still out there, but 95% is more typical!! You may also call it the rural development or R.D. and this loan is a federally secured loan. These loans are available for properties in Kuna, Star, and Middleton. Also, still available but not sure for how long is IFHA one hundred percent financing for folks with good credit.
The program is called “Good Credit Rewards.” FHA financing is available with a 3.5% down payment which is an achievable goad. If you have yet to purchase and are waiting on the sidelines, it will probably be a good time for many months to come. If you are looking to buy something in the Boise real estate market from Boise to Caldwell, it is crucial that you understand the numbers and have an experienced agent at your side.