The US housing market is experiencing a 21% decrease in available homes on the market compared to last year. The cause of this sudden drop in supply results from a string of events, including the lack of or non-existent new construction market, fewer foreclosure properties entering the market, an
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06/25/2012
The Case-Shiller Home Price Index showed a 1.9% drop in home prices in the first quarter of 2012 compared to the first quarter of 2011. This latest composite report shows the lowest home price levels since the peak in 2006. Indices display a 35.1% drop in home prices since that peak in the secon
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06/04/2012
Also, as you know, the interest rates on mortgage loans are very low. We’ve probably heard it so many times that we’re numb to the term, but when you hear “historically low” in regard to mortgage rates, it’s true. “Historically low” as in “never been this low in history.” The problem is we’ve bee
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05/23/2012
Outstanding news for new home construction in Boise! Hennessy Appraisals and Jere Webb Publishing both released data showing a HUGE jump in new home construction activity for the Treasure Valley. In fact, the number of new home sales is up an incredible 100% for the first quarter of 2012 compared
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05/16/2012
There seems to be a lot of talk from consumers and the media about how tight lending is today for home buying. I tend to agree that lending is tight and difficult to get but NOT in regards to buying a home. I see plenty of difficulties getting loans for commercial property, businesses being hel
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05/10/2012
Last week on Boise Real Estate Radio, we had Mark Perison, Attorney at Law, in studio. Mark specializes in Idaho foreclosures, and even teaches a class on this subject at the Idaho Real Estate School. In speaking with him, I was alarmed to hear some of the horror stories people are experiencing w
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05/01/2012
Seriously…Robert, you may just be the most pessimistic person in the US this week. When I read this comment from Robert Shiller, I wondered if he was just fishing for some front page news for his Case/Shiller Home Price Index, or if he is really that dishearten about the future of real estate? De
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04/25/2012
Let's imagine there had been no real estate bubble six years ago. Where might real estate home prices be? National home prices appear to have finally bottomed out in 2012, and by some estimates have fallen to where they should be based on historical averages. Essentially this housing crash has er
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04/18/2012
Analysts at Bank of America say it will take a year to clear excess delinquent inventory in the worst areas such as Miami and Chicago at the current sales rate. However, Phoenix and San Francisco markets should only take 7 to 8 months. The Foreclosure sales rate is improving and banks are moving
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04/16/2012
I predicted at the tail end of last year that 2012 was going to be Boise's year to see a big median home price jump, and the activity we had in March appears to be affirming that prediction. Median home price is not the same as home appreciation, but it is a major step in moving us toward that
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04/10/2012
