Boise Homes for sale are much like the what is going on nationally. Today Stan Humphries Chief economist for Zillow, on CNBC Realty-Check described home sales as a dumbbell market. Most of the homes selling are selling for less than $100,000 to $150,000 sale price. On one end of the dumbbell are investors paying 100% cash. On the other end are first time home buyers using FHA loans putting 3% down.
First time home buyers are often confused. With so many Boise homes for sale that are foreclosure and short sales, many think they are going to be able to walk into a dream home, make a low offer and get it. They are often finding in homes for sale for only a few days, make and offer, only to find there are multiple offers and the bank is coming back asking for highest and best price. After a few of these experiences it starts getting frustrating. Short sales can take weeks to months and some buyers need to move in. They can be frustrated by having to wait and wait and then not get the house.
I have been in the real estate business since the 80s. This is a confusing time. Boise homes are now often listed for less than they sold for in 2000. Interest rates are as low as 3.4%. But JP Morgan is predicting another6% or more drop in value!
So should I buy a Boise home now? Well prices have fallen 50% for many Boise Homes for sale since the 2005-06 peak. There are starting to be fewer Boise homes for sale that are low to moderately priced homes. There are still plenty listed for $300,000 that are sitting for months and even years. But the inventory of lower priced homes is definitely dropping.
If you are thinking of buying a home in Boise, Meridian, Kuna, Nampa, Eagle, Caldwell or anywhere in the Treasure valley I want to invite you to go to www.BoiseMeridianRealEstate.com where you will find the easiest home search tools available. You can set up your own custom search, save them and get alerts when new listings come up or prices are changed. You can see street views and aerial views. You will find some of the best Realtors in the Boise area and our two short sale experts have have a combined success ratio and number of short sale closings that are matched by no one.
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