More of the same...but more of the same is now good news. While mortgage rates are still maintaining historic lows - a 30 year fixed-rate mortgage averaged 5.14 percent last week - home sales are still showing gains. Experts are saying that low mortgage rates are helping to stabilize the housing market by encouraging prospective buyers to take action while the rates remain low.

While rates did rise slightly - the average for the week prior was 5.12 percent - compared to last year, home loans are a steal. Last year at this time, the average rate was 6.4 percent.  Mortgage rates contribute largely to home affordability. A few percentage points can mean a big difference in a monthly mortgage payment.

Likewise, new home sales continued to increase, showing a gain for the fourth consecutive month. It's obvious that something's working, whether it's new home buyers taking action to take advantage of the $8,000 tax credit before time runs out, or if low housing prices combined with low interest rates are simply finally doing the trick.

According to the Commerce Department, the number of new home sales has now reduced the number of unsold new homes on the market to the lowest number since 1993. This can't be attributed solely to new home sales, however. We do have to consider the fact that builders have drastically slowed their pace to accommodate the lack of demand.

According to the National Association of Realtors, existing home sales also showed an increase for the fourth consecutive month. We've now reached an annual pace of 5.24 million, which is the most since August 2007. Strong signs of improvement.

Prospective home buyers - it's time to sit up and take notice. Home prices are showing slight increases, which is great news for those hoping to sell their homes, but means we are now beginning to see the end of this opportunity to get a great deal on the Boise property of your dreams. There are still plenty of foreclosures on the market, but if you're a first time homebuyer, you should be acting quickly to be eligible for the $8,000 tax credit.

Boise real estate was once a strong player in the national market, and will be so again. Why let investors have all the fun?

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An article in Time Magazine, "How the Housing Market is Fighting Its Way Back," by Barbara Kiviat dated August 10 (http://www.time.com/time/magazine/article/0,9171,1913763-1,00.html) highlights Boise real estate and the slow but steady emergence from rock bottom. A nice twist to the typical real estate article focusing on the glass-half-empty picture, this article instead starts out with a story about a young couple who benefited from the housing crisis.

The Roberts family, featured in the opening of this article, began looking for a home in 2006 in Boise but couldn't find anything they could afford. Last winter, among the crisis, they found a beautiful home that suited their family's needs at an incredible price - a home originally listed for $315,000 that they got for an astounding $169,000 after it fell into foreclosure status.

While the rest of the article discusses the normal real estate statistics and is slightly less optimistic, the lesson learned from this upbeat opener shouldn't be taken lightly. No one wants to see others experience economic hardship, but families in the same position as the Roberts shouldn't feel guilty about taking advantage of a good thing.

Economics is a funny thing, but it follows the same logic as most other things in life. What goes up, must come down, and the Boise real estate market is no exception. Yes, it stinks that there are hundreds of Boise foreclosures and short sales, because it indicates that families are in over their heads. Yet, for those in a position to buy a home, the hundreds of Boise foreclosures are a world of opportunity. The Roberts family, featured in the Time Magazine article referenced above, never imagined they'd be able to afford such a lovely home - and they wouldn't, if not for the current housing crisis.

Take it for what it's worth. You're not capitalizing on someone else's loss, but you are taking advantage of an opportunity to improve your life - and the economy, while you're at it.

3 - Bed

2 - Bath

Single Story

2 - Car Garage

1340 - Sq. Ft.

$107,000.00

This is a lovely super clean well kept home, awesome split bedroom design, roomy private master suite with walk in closet, great kitchen with raised snack bar, pantry, white appliances Includes sprinklers front and back, fully fenced and so much more.

4 - Bed

2.5 - Bath

2 - Story

3 - Car

1606 Sq. Ft.

$220,000.00

This beautiful home has arched stucco pass thru and additional stucco accents on front, vaulted living room and a family room, breakfast bar, corner pantry, fireplace, wood wrapped windows, walk in closet, family room has large windows, main level 4th bedroom makes great office,  fully fenced, automatic sprinklers and much, much more.

According to the latest reports by RealtyTrac, a record 360,149 homeowners received a foreclosure notice in July - a whopping 7% increase over figures from June. Despite recent good news about an increase in existing home sales and stabilizing home prices, the foreclosure crisis itself doesn't seem to be easing up.

The government - both Federal and State - continue their efforts to create alternative solutions for homeowners in distress. Just two weeks ago, the Obama Administration released statistics about the number of homeowners who have been offered assistance under a number of the programs available to help prevent foreclosure, in an effort to put pressure on banks and mortgage lenders for not doing enough to help homeowners in trouble. Overall, only 15% of eligible homeowners have received assistance.

The bottom line is, as the number of foreclosure filings continues to replace some or, in some cases, nearly all of, the number of new and existing homes sold each month, the housing market will continue to struggle, and prices, while the decline may lessen, won't rebound.

In Idaho real estate, there were 2,491 new foreclosure filings in the month of July, and only 83 foreclosure properties sold. 1,074 of those were in Ada County alone.  The number of Idaho foreclosures on the market is increasing substantially. The average sales price for an Idaho foreclosure was only $184,527.

The number of sales in Ada County decreased in July as well. In June, there were 448 properties sold compared to only 282 in July. Another interesting fact - the average sales price was down a bit, too: from $198,625 in June to $192,619 in July, although the average sales price per square foot remained the same at $102.

You can even beat the incredible $102 per square foot average sales price by taking advantage of the many foreclosure properties in the current Idaho real estate market. Idaho home prices are very, very reasonable right now, so call your local Boise foreclosure expert to make an appointment to view one of the many fine homes on the market today.

3 - Bed

2.5 - Bath

2 - Story

2 - Car Garage

1804 Sq. Ft.

This adorable home is  a very popular floor plan, this home features a 3 bed, 2.5 bath, with a large bonus room over the garage, large open living room, dining area, fully fenced, full sprinklers front and back and its only a block from the community park which has a kids playground and basketball courts.

According to the Case-Shiller index, home prices rose by half a percent nationally in June. That's good news for homeowners hoping to sell in the next few years, because it indicates that the housing market could be finally making a turnaround. For those wanting to make an Idaho real estate investment, this means that time is running out to take advantage of rock-bottom real estate prices.

While the government is continuing to promote incentives to help new homebuyers make their first real estate investment, a total economic rebound will eventually lead to recovered prices and higher interest rates. Yes, we're still talking about a very slow rebound, over the course of several years, but housing prices will continue to make a gradual increase over time if we have in fact reached bottom.

The number of Idaho foreclosures and Idaho short sales will still be high for awhile, so as housing prices begin to increase, there may still be opportunities to purchase Idaho real estate at a better price. An Idaho foreclosure expert can help you find the right home for you and your family, as well as make the entire purchase process a little less stressful.

If you're looking to make a fresh start in a new part of the country, consider the greater Boise, Idaho area! This area offers many opportunities for families, seniors, and young professionals, with plentiful recreation and promising employment opportunities. As a local Boise real estate expert, I'd be honored to help you start your new life here in Boise.

2 - Bed

1 - Bath

756 Sq. Ft.

.18 Acre

This cute little home is a great little starter home not far from downtown Caldwell. This home freatures a large lot, storage building, forced air gas heating, central air, great investor property close to Albertson College.

For more info please visit www.movinidaho.com

4 - Bed

3 - bath

2 Story

2 - Car

1861 Sq Ft.

This home is a must see! Main level master! Over 1860 sq ft, 4 bedrooms, beautiful front bay windows, vaulted ceiling living area, open kitchen and dining area with oak cabinets, recessed lighting, breakfast bar and Kenmore appliances. Upper level offers 3 spacious bedrooms & a large bonus room that is also complete w/ closet so it would make an awesome 5th bedroom.

For more info please visit www.movinidaho.com

4 - Bed

2 - bath

Splitentry

1 - Car

2100 Sq. Ft.

.18 Acre

Huge house in a great location. This beautiful home offers abundant living space on two levels, newer paint, huge utility room with ample shelving, huge bonus room on the lower level, office or 4th bedroom, newer furnace with purifier, RV parking, lots of trees, fully fenced, bring the kids, dogs and all your toys. NOT A SHORT SALE!!!

For more info please visit www.movinidaho.com