Posts Tagged ‘Boise Idaho Real Estate’
Yeah! That is the sound that Some real estate professions made when last years tax credit for first time home buyers was granted a 7 month extension.
The first time home buyer tax credit helped encourage Many home buyers jump into the market who Many not have without it, boosting real the national realty market.
There are Some positions on this matter as with nearly all matters, that contradict and even oppose each other. Some tax payers are upset at the use of their tax dollars assisting someone else purchase a home. Give that all of us benefit from the economic stability that is brought by the tax credits, especially in the real estate business, and fields tied to it.
Many people point out that the tax break simply induces people who were already planning on buying to buy. If the tax credit wasn’t designed to be a short term help, then this point would have more credibility to it. Since Many of the buyers who are buying right now were obviously already looking, then the limited deadline of the tax credit will help them decide to buy sooner, rather than later.
Then, there is always the tax cheats. Some people who are not candidates to receive this credit will also try to cash in. If caught and convicted of the tax fraud involved some will face fines and jail terms that exceed any possible benefit they would have gotten.
Given that real estate prices were in a free fall, prior to the approval of the tax credit, it is a hard argument to make that says that they were not warranted. As the job market starts to rebound the realty market will find more buyers and will start to become much rosier in its projections.
In the Boise Idaho real estate market you either win or lose when you buy. It is very easy to win if you know what to look for. Learn the 5 secrets that most people don’t know when they buy that saved one man $27,500 in one day.
There are 5 Boise Idaho real estate secrets that you need to implement to make sure that you are buying right.
1. Best House Best Subdivision – All over the Treasure Valley, you will find subdivisions after subdivisions, but which one do you buy in? Two Rivers in Eagle, Highlands in Boise, Tuscany in Meridian? I always tell my clients to purchase in the best subdivision in your price range that will hold it’s value or increase in value the best. That means that we are looking a the amenities of the subdivisions, location to I-84, convience for shopping, lot size, and more. If you end up paying a bit more for the best subdivision that you can afford, it is well worth it in the long run. Many subdivisions in the Boise Idaho real estate market offer amenities such as swimming pools, parks, basketball, and playgrounds. If you want even more amenities, some of the newer subdivisions also offer horse stable and trails, walking paths, and a fitness clubhouse.
2. Don’t Fall In Love – Time after time I see people “fall in love” with that one house even though it may not be in the prime location or area. Always revert back to secret #1 when buying because location, location, location is not an overstatement. If that “perfect” house is in a not so desirable Boise Idaho real estate subdivision, it is time to move on. You will always have time to make that house your home after you move in.
3. Where Is The Kitchen – Another part of your resale value and investment value is going to be based on what type of floorplan you go with. Each market around the nation is different and the Boise Idaho real estate market really has some things you want to watch for. Does it have high ceilings, master on the main level, bonus room, lots of stairs, or a small kitchen? These things do make a huge difference so make sure to get with your buyer’s agent and see what is popular now and know where the trends are going.
4. Don’t Buy The Furniture – Buyers have a hard time buying vacant homes for what they are worth and paying too much for homes that are clean and staged. You have to picture every home that you see with your furniture and lifestyle built in. It can be a hard task, but I have seen people pay $30,000 extra for a well staged home and pass up on a great deal on a vacant home. There are a lot of new construction homes available right now in the Boise Idaho real estate market, so don’t be fooled by the lavish decor.
5. Offer Lower, But Not Too Low – What is the market value of the home? That’s what we are shooing to accomplish, correct? If you know what the Boise Idaho real estate market value is, you can determine what you offer is. A couple recently purchased a home in Boise that was $25,000 overpriced, but since they got the owners to come down $10,000 they felt good about the purchase. Another buyer in Eagle, ID recently offered on a house that was priced $40,000 below market value, but since they owner wouldn’t budge on price, the deal fell apart and the buyer lost out big. Your experience buyer agent should be able to steer you in the right direction.
In the Boise real estate market there is a good chance that you can get some really great deals, but there is always a chance that you can get burned as well. If you know the numbers and trends in the market, you can prevent a loss of equity.
Not including the surrounding cities like Nampa, Caldwell, and Star, there are 4,894 homes that are active and over 2518 of them are vacant. That means that there are about 50% of the homes that are on the market and vacant. That is great for buyers because that usually means that the owners of the vacant homes will be more likely to negotiate on the price of the home. An occupied home will typically sell for higher than a vacant home because of this fact and occupied homes tend to sell higher because of the “staging” of the home.
At the average price of $280,250, there are 638 homes that have an offer on them but have not yet closed. That is a pretty high average compared to the yearly stats for sold prices in Boise.
There has been 425 homes that have successfully sold in the past month as well with an average sales price $282,588. That number is down about 25% from last year at this time. When you look at the supply vs. demand, the buying deals are even better than last year. This trend is pretty consistent through the Treasure Valley market.
If you have a good and experienced buyer’s agent on your team, you can make sure to get the most bang for your buck and you can feel good about your purchase.
Take for example, a home that was recently on the market that was listed initially for 1.1 million with the owner and now is listed at $400.000 in an excellent subdivision on a golf course. If you are patient, you can find these deals in the market. There are some excellent purchases available and this is just an example of one.
Chances are that if you are looking for a home that is $200,000 or so, you can find it for 170k or so depending on the bank and what they are willing to part with.
To take advantage of these great deals, make sure that you employ an experienced buyer’s agent that can walk you through the process on these homes. Happy House Hunting!
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.
The Boise real estate market has taken a hit just like every other market in the country, but there still has to be people that have to move and people that have to sell. Then there are the people that want to buy or sell because they just can’t pass up the great deals that are out there.
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 are looking to buy in the SE Boise area, you probably will not get quite as good of a deal as you would if you were to go more to the west.
The other areas that are close to downtown Boise are holding up pretty well too. Location, location, location is what you always hear with the Boise real estate market, and it really comes into play in there down market times. If you are looking to live in the Northeast Boise or North Boise you might not get quite as good of a deal. Boise.
If you are really looking to purchase and get a great buy. If you want a great deal in a great location, look at West Meridian. There is 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 Paramount, Lochsa Falls, and Bridgetower Subdivisions.
The Star and Middleton, which area about 10 miles east of the primary market are really ripe for the picking. Because of these cities being out of the way a bit and a lot of new construction that is vacant, you can find some excellent buys here. There are homes that were originally listed for 1.1 million that are on the market for less than 500k, and homes that were originally 400k that you could pick up for 250k-300k.
Foreclosed (bank owned or R.E.O.)are abundant, but you will find that many of them require that you make some improvements such such as the usual touch up and sometimes some carpet. Some are left in exceptional condition and others are missing all fixtures and smell like pet pee. Interest rates are amazing right now. On Friday some banks were offering 5.25% for conventional purchases. A great rating for your credit is over 720 and if you put down 20% you will be getting the better rates.
There is financing available out there. The options are less attractive for investment purchase and refinance, but I found a bank that is offering amazing deals. You can even find 100% loans still out there, but 95% is more typical!! It’s called 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 100% financing for people 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. Whether you are going to buy in Boise, Eagle, Meridian, Nampa, or somewhere else, make sure that you have all the information on the market that you need to make the right decision.
Search for beautiful homes in Boise using our local multiple listing service for Boise Idaho real estate Jim Johnston. More than 5000 properties available to you with one simple click. Houses, apartments, condos and rural properties available. Articles on handling real estate transactions, real estate news, and mortgage and finance information for house purchase.
Whether you are a first time buyer or an experienced investor, you will find useful information about how to choose the “right” property, making an offer, negotiating, financing, mortgage rates, moving, and everything involved in making an informed real estate decision in today’s market. A number of recreational opportunities are available in Boise, including extensive hiking and biking in the foothills to the immediate north of downtown.
Downtown Boise is Boise’s cultural center and home to many small businesses and several high-rises, and has an array of shopping and dining choices. The City of Trees boasts one-of-a-kind museums and urban parks, a river flowing through the heart of the city and a 25-mile river front greenbelt. Located along the Boise River and nestled against foothills of the Rocky Mountains, our city offers many outdoor activities to local residents, from skiing at Bogus Basin Ski Resort to biking on the Boise River Greenbelt to boating at nearby reservoirs.
The Boise area has it all – desert, rivers, mountains and lakes for hiking, camping, kayaking, river rafting, hunting and fishing. Idaho is a Rocky Mountain state with abundant natural resources and scenic areas. Idaho has two distinctive sections: Northern Idaho and Southern Idaho. Both are equally as beautiful and exciting, but each offers a different type of landscape.