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I have to admit, I'm not like most optimistic Real Estate Agents.
I like to think of myself as a "realist" (like all good pessimists do :-)
I try not to be too "Doom & Gloomy" but I'm certainly not always thinking that "Now is the Best Time to Buy for Everyone" (By the way, the best time to by is subjective - depends on who you are and what your situation is).And, I will say that here in Idaho we do still have some major problems with unemployment, a huge market of distressed properties - both foreclosure and short sale (that I don't think are going away for a while for a variety of reasons), and that we likely do have "Shadow Inventory" being held back by the banks.
(Also, let's see how many quotation marks and parentheses I can use in one blog post :-)
BUT, with that said, I can't deny the reality that we have VERY little inventory on the market right now.
I can't deny that the last 4 offers that I've written in the last couple of weeks have been competing with many, many offers (one had 11 CASH offers, not to mention the other financed offers; another my buyer WAS cash and on two different properties offered competitively over asking price and still did not get the winning bid).
I can't deny that homes are flying off the market quickly and that I'm having a difficult time finding properties for the buyers I do have.
I can't deny that prices have slightly increased in the last quarter here due to the supply and demand.
I can't deny that new construction is making a comeback with more permits and more homes for sale and sold than in the last few years.
I can't deny that I hope I find that perfect house (okay buyers "perfect houses" don't really exist) that I am looking for with my family sooner rather than later so I don't completely miss the boat. (You see, for me and my growing family now IS the time to buy for us.)
We will see how the rest of 2012 plays out, but as of right now, here is what Ada County Association of Realtors is saying about our February Market Statistics.
Here is also a visual look of our market here in the Boise, Idaho area from ACAR.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.