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Boise Real Estate Featured in Time Magazine

By
Real Estate Agent with RE/MAX Advantage

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.