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real estate: 2009 Parade of Homes - 04/24/09 11:05 AM
The Building Contractors Association of Southwestern Idaho is bringing their 2009 Parade of Homes to the Treasure Valley beginning Saturday April 25th and running through May 10th. Weekday hours are 5PM to 8PM, Fridays are 3PM to 8PM, and Saturday and Sunday hours are Noon to 8PM. This year the Parade of Homes is FREE! No tickets are required.
Reflecting the slower housing market, there are just 17 new homes on the Parade this year, but they are homes presented by many of the Valley's best builders including Tahoe Homes, The Marrs Company, Capitol Building, Brighton Homes, Crocker homes, Borup Construction, … (0 comments)
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real estate: Boise Area Home Sales and Prices - 11/28/08 09:56 AM
In September we saw an increase in closed sales over the year before. It was a situation that the local and national papers heralded as very good news for the troubled housing market. I even heard one local radio real estate show suggest we'd see a strong rebound in October, November, and December. I warned that the number could also be due to the big mortgage stumble in August of 2007. So, how did we come out in October? Did we pass the bottom, or was it just a hiccup?
Ada County home sales for October come in at 409 for … (4 comments)
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real estate: Ada County Sales for July - 08/14/08 02:29 PM
In normal years past we've usually seen the highest monthly sales during the month of June or July. It appears that our market has settled down to a normal flow, even if the total sales figure is smaller than we'd like. Single Family home sales in Ada County for the month of July were 489. That is from early numbers, and they might find a few more reported in the next week or so. That is slightly below June, which looks like a normal sales pattern. I mentioned last month that the percent below a year ago was better at 25%, … (1 comments)
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real estate: Ada County Sales For June - 07/21/08 11:37 AM
Another modest improvement for Single Family home sales in Ada County for the month of June continues our string of higher sales numbers. There were a total of 535 SF properties sold during the month. Last year there were 710 sales for June. The bright spot of that comparison comes while looking at the trend, which also continues to improve. Remember that our declines are getting smaller each month, going from a 42% decline at the beginning of the year to a 25% decline in June.
Another trend to watch is the number of homes currently listed. As expected, this number … (0 comments)
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real estate: Ada County Home Sales For April - 05/05/08 12:33 PM
The most frequently asked question right now is "Are any houses selling?" Some folks seem surprised when I tell them, yes, homes are selling in the Treasure Valley right now. Definitely not on the same pace as two summers ago, but better than we saw over the winter. In fact, the 460 homes that sold in Ada County in April is the best showing we've had since August last year, when the mortgage lending problem happened. Year over year, April '08 was 34% below '07, but we've been 38 to 42% below in recent months. For the valley as a whole, … (0 comments)
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real estate: Ada County home Sales For March - 04/21/08 10:07 AM
Single Family home sales in Ada County increased in March, climbing back over the 400 unit level, with 430 sales closed for the month. Last year's 711 units was the third highest March on record, so the comparison is tough. And while 430 is still a fairly weak number, it is well over January's low of 302. The sales numbers are proving out what agents have been saying, that traffic and buyer interest is increasing.
Also interesting and encouraging for the month is another strong increase in the pending contracts figure. We are starting April with 694 contracts pending, well up … (1 comments)
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real estate: Ada County Home Sales for February - 03/07/08 01:37 PM
Single family home sales in Ada County rose to 371 units in February over January's 302 units. Median listing price was $206,990 while median sold price was $203,000. Here is a good place to take a closer look at "median price". In January, the median price was $217,500. Does that mean that home prices fell by $14,500? Not at all. It simply means that in January we saw more higher end homes sold than in February. Certainly, prices are not what they were two years ago. But we did NOT just lose 7% in one month. Remember that when you read … (3 comments)
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real estate: Ada County Home Sales in January - 02/04/08 06:08 PM
As beautiful as it is, the snow has definitely added to the chill on the Treasure Valley real estate market this January. Only 302 Single Family homes sold in all of Ada county during the month, down from 464 a year ago. The Valley as a whole saw only 434. There is just no way to spin that into good news, especially if you are a seller. Inventory has stopped decreasing as well. There were 3898 active SF listings in Ada this morning, which is nearly identical to the level we had at this time last February. In talking to other … (1 comments)
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real estate: Avoid Foreclosure and Bankruptcy Scams - 01/18/08 02:53 PM
With all the talk about mortgages resetting and people losing their homes to foreclosure, there has also been a corresponding rise in foreclosure scams across the country. The Boise real estate market hasn't been hit the way many parts of the nation have, but there has been an increase in the number of "questionable" practices seen in the Treasure Valley. Should the economic slowdown that many are predicting come to pass, we'll no doubt see even more of this kind of activity.
Foreclosure scams can target either side of the foreclosure equation, aiming for naive buyers looking for that impossibly great … (3 comments)
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real estate: Taking a Closer Look - 01/14/08 07:38 PM
I wanted to make a little closer look at the numbers for last year, now that we're into January. In Ada County we finished 2007 -34% in homes sold compared to 2006, and off 33% in total sales dollars. For the year, the median price was off 2%, most of which happened in the last few months as the mortgage problem reared its head and gave us all fits in the Fall.
I've mentioned New Construction inventory being steadily worked through, and that our area hadn't overbuilt to the same degree seen in other markets in the country. The end of the … (1 comments)
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real estate: December Ada County Home Sales - 01/03/08 02:52 PM
As expected, December home sales have come in as the lowest in 2007. Single family homes in Ada County for the month totaled 372, according to MLS data. That compares quite favorably to November's 388, but it is still 38% fewer than December a year ago, and for the year leaves us down about 36% compared to 2006.
The bright spot in the latest numbers is again the decreasing number of active listings. This morning there were 3781 homes listed (not counting condos, townhomes, or properties with acreage). This is the lowest inventory we've seen in a year, and marks 5 months … (0 comments)
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real estate: November Ada County Home Sales - 12/07/07 04:57 PM
Preliminary numbers from the MLS this morning show that total sales in Ada County for November fell back again to roughly September's levels. There were only 388 closed sales recorded for the month, which is a new low, and fewer than I had expected. The bright spot in the report is that inventory continues to fall, as more homes are sold or simply taken off the market. Right now there are 4275 Single Family homes listed in Ada County, down from 4604 in October, and well off the summer high which was over 5100 homes! And as the market slows down … (0 comments)
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real estate: October Ada County Sales - 11/06/07 11:59 AM
October home sales in Ada County rebounded slightly from the barely 400 units in September. There were a total of 455 Single Family homes closed during the month. For the year to date, 6059 homes have been sold in the county, as reported to the MLS. If you consider Fall of 2005 as the rough top of the run up, then on a yearly basis unit sales are off almost 38% compared to 2005's 9746, 31% compared to 2006's 8783. Quite a correction, but a needed one. No market can stay healthy if the kind of excess we saw in late … (1 comments)
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real estate: August Ada County Sales - 09/11/07 05:53 PM
The problem in the mortgage market in the early part of August is reflected in the latest sales figures for Ada County Real Estate. As you might remember, at the beginning of the month a couple of large lenders abruptly closed their doors, leaving many borrowers stranded without funding. Not all of those deals were saved, apparently. Sales of Single Family Homes (not counting acreage, townhomes, mobiles, or condos) at 656 units were a bit below July's weak 667 number, continuing the trend we've watched since April. This makes March our high month of the year, which is very unusual.
Another sign … (0 comments)
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real estate: What is "normal"? - 08/29/07 05:16 PM
I had an out of state resident contact me by email the other day about the state of the Idaho real estate market, and in particular, the market around here in Meridian and Boise. They had two questions for me, one, how are sales? And two, when will the market get "back to normal"?
The first question is fairly easy to answer. Homes are still selling, but the number of buyers in the market right now is not what we've seen in the past two years. Price is particularly important, with condition a close second. There are a very large number of … (0 comments)
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real estate: Paramount in Meridian - 07/17/07 02:56 PM
Paramount is one of the larger master planned communities being developed to date in Ada County. It covers a full square mile between Chinden on the north, Meridian Road on the east, McMillan on the south, and Linder on the west. The completed plan will feature primarily single family homes with parks and common areas, and two community pools. Also included will be retail and office space, as well multi-family residential, along with a high school and an elementary school on site which are nearly finished being constructed, and there is a middle school across Meridian Road from the community. Paramount … (0 comments)
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real estate: North End Boise Home Sales - 06/22/07 10:40 AM
I received a request from Dave in the comments section yesterday, asking how home sales were in Boise's North End this year compared to last year. Interesting request, so I took a couple minutes this morning to check on sales figures. My "sense" was that sales were still pretty good over there.
So, to check my sense against what's really happening, I used a broad search for closed sales in area 0100 - North Boise. I'm sure Dave means the "classic" North End, the area north of State Street, around Harrison Blvd and the Hyde Park area. I could have done a … (2 comments)
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real estate: Meridian Real Estate Update - 06/20/07 09:07 AM
Here we are in the middle of June already! I thought it would be a good time to check out how the real estate market has been going so far this month, and in this post I'll just look at what's going on in Meridian.
At the end of last week in the MLS, there were 1537 Single Family Residential listings active for Meridian. That doesn't count condos or mobiles or townhomes (unless someone listed them SF...grrr!). The low price is $109,000 and there is one at $1.6million. The average, however, is $314,402, with a median price of $289,450. Average and median are … (2 comments)
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real estate: 2006 Home Price Comparison Index - 09/30/06 06:42 PM
For those of you wanting to have some way of comparing average home prices across the country, Coldwell Banker this week released its 2006 Home Price Comparison Index. It compares an average 4 bedroom, 2.5 bath, 2 car garage home with 2200 square feet in 317 United States markets, as well as some international markets. It is an interesting bunch of data, especially if you are like me, and love to look at all kinds of numbers all kinds of different ways.
Not surprisingly, the most expensive homes were to be found in California, with an average $1.8M in Beverley Hills. … (1 comments)
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real estate: How Much Home? - 09/20/06 11:29 AM
Someone on Active Rain has suggested this topic, rather like the HGTV show about what you get for your money in different markets across the country. The question is, "How much Home can you buy for $425,000 in your market today?"
I can think of a number of different places to use $425K here in Idaho, but for the Ada county area around Boise, Eagle, and Meridian there are just over 100 listings on the MLS this morning for residential between $400,000 and $425,000. That's alot to choose from,and you can find them scattered all over the county so … (1 comments)
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Bill Williams
Boise,
ID
More about me…
Coldwell Banker Tomlinson Group
Address: 4720 Emerald, Boise, ID, 83706
Office Phone: (208) 377-2310
Cell Phone: (208) 921-9512
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Occasional posts about Boise, real estate, and things that catch my mind... I love it here, and sometimes I just need to tell you about it!
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