Even The Most Pessimistic Real Estate Agents (Like Me!) Can't Deny What's Happening In The Boise, Idaho Market Right Now

John!  We need more listings, so if someone needs/wants to list they certainly would be in a great position!  It does seem to be picking up. 

Sherry, I know that real estate is local, but it does seem that many areas are improving and facing lower inventory.  It's interesting to watch the local compared with the national markets.

Chris Ann, I think we have more shadow inventory in our area than we want to admit.  Working heavily with short sales and seeing how many of those fail (not by my husband, he's a rockstar) and not all of them coming back on the market I know that they aren't all being bought up by investors at the foreclosure auction - I've gone to those auctions.  The banks are holding on to some of it.  They have to be.  But, we will see.  I've also heard about banks considering "bundling" properties and selling them to investors at discounted rates.  That could be a rumor but I think they'd lose money doing it that way, we have plenty of buyers that want the homes... 

Charlie, with low inventory brings a whole different challenge to the market - finding homes for buyers and having to deal with multiple offers on everything.  There's always something to adjust to in every market.  BTW, how are those video blogs working out for you?  I haven't ventured into that territory yet.

Tammie, it does seem like there are more buyers out there too doesn't it?

Myrl, I agree, it will be interesting to see how the shadow inventory is handled.  In my area it would be nice if we got some more of it on the market right now.

Larry & Sheila, in my area too, if a seller needs to sell and they are an equity seller they will get there home sold in record time here right now, as "traditional sales" are fewer around here and actually sought after for those folks who don't want to have to deal with short sales.  With inventory low and a lot of buyers if a seller is thinking about selling, even though prices are lower, their home will get sold quickly if it is priced right.

Gabe, you are right, but a lot of people things realists are pessimists :-)  I don't think it is good to sugar coat things.

Thanks Angelica, good luck to you too!

Michael, people ask us all the time if we are busy (expecting us to answer with how terrible things are).  They are always surprised when we tell them how busy we are.

Richie, you are absolutely right.

Joan, the only thing is that it is HARD as a buyers agent :-)  Great to be a listing agent, but darn the number of offers we have to put in on homes with multiple offers!

Sandy, we are the worst kinds of buyers though....picky, want everything for 20% under asking even though we know it's already priced well, have been looky loos for a couple of years, will buy if we find the right thing but otherwise are willing to wait...etc.  We mock ourselves sometimes.....we already own a home, but with working in our home office and adding children, a few more rooms would be nice..

Gretchen, we will see what 2012 holds.  Hopefully it's a great year!

David, do you work in the Durham area?  I have some friends there that are hoping to move eventually but they say it's tough to sell a house there right now....what's your take?

Lloyd, I am looking forward to being able to look back on 2012 to see what happened and what the trend was for the year.  So far so good.  We'll see if it lasts.

Evelyn, the increase in prices here is slight too, but certainly there at least for this first quarter.

Scott, even though "real estate is local" it is still so interesting to see how many areas are seeing the same trends.

Pamela, over the past couple of years I told buyers that there was no way I could promise them that it was the bottom of the market and how would they feel if they bought their house and it was worth less than they paid for even a few months later.  If their situation was that they wanted to buy a home for their families needs and they were okay with their home depreciating because having a home now was more important to them then I helped them find a house.  I've sold a lot of homes in the past couple years, even having that discussion with buyers.  Of course we also talked about the fact that interest rates were so low and if interest rates go up even slightly that changes buying power anyway.  There is a lot to factor in and that is why different times and for different reasons make it the right or the wrong time to buy for people.

Thanks Mike!  Hey, if your Meridian friends ever need real estate help send them my way!