And it can't come fast enough!

It's been a tough year for the old US of A, and there is a lot of debate about whether or not 2009 will be an improvement on 2008.

We can't tell the future, but we've learned a few things during our eleven years in real estate.

There is ALWAYS opportunity.

When the Boise real estate market peaked in 2005 and early 2006, our sellers enjoyed record selling prices. This was a real payoff for those clients who had owned their home for a long time; it was a validation of their perseverance.

Investors also benefited.

As home sales slowed and prices stabilized, buyers began to come out of the wood work. They could make reasonable demands on sellers again (per home inspections, for example) and they could afford to buy!

Today we see a lot of potential sellers and buyers operating out of fear. Or rather, their fear is keeping them from doing anything at all.

We can't choose our market.

So it is our goal to combat this fear, in spite of the uncertainty, and provide you with the information to make wise, informed decisions about buying and selling in the market that we have been dealt.

Happy New Year. Let's make it a good one.

...from all of us at Boise's Best Real Estate.

Here's to a happy, peaceful, prosperous 2009.

Thanks for sticking with us!

Piggybacking on our post from early November, here are some highlights from an Idaho Business Review article that goes into a little more detail about Ada County home prices versus national averages.

While United States existing-home prices took an extra-deep plunge in recent months, Ada County existing home prices have stayed comparatively steady.

Nationally, the October median existing-home price is down 17.3 percent from its 2008high in June, from $215,100 to $183,300, according to data from the National Association of Realtors. In Ada County, prices declined in that same period from a median of $209,900 to $195,400, or just 7.6 percent, according to data from the Intermountain Multiple Listing Service.

Ada County's highest median price in 2008 for existing (not newly constructed) homes occurred in January, at $210,000. The slide to $198,400 represents a 7.5 percent decline.

[snip]

Canyon County was more aligned with the national drop, with existing-home prices falling 17 percent from year-earlier prices in October, their biggest year-over-year drop in at least a year, according to data from the IMLS. Canyon County's October prices represent an 18.6 percent fall from the county's 2008 high in January, though the fall has moderated in recent months. Prices dropped a comparatively tame 9.9 percent between June and October.

The number of existing homes sold in October dropped by 4.6 percent nationally, 9.8 percent in Ada County and 22.4 percent in Canyon County.

Labels: Ada County, Canyon County, Idaho, Idaho Statistics, Real Estate Trends

HUD repos are in good supply again and could be the key to thriving in Boise's shifting market.

When investors crowded the market in 2004 and 2005, HUD homes became almost impossible to buy. Even the popular "Teacher Next Door" program suffered.

Today, rehab loans are available for both investors and traditional home buyers. In fact, many investors are making it to the bid stage--unheard of during the real estate boom.

And owner occupants (traditional home buyers): You win too, with down payments as little as $100.

Remember the old adage "Buy low, sell high?" Get in touch with us today to see if you're a good match for a HUD Repo. Click here.

Labels: Economy, Foreclosure, News, Real Estate Trends