And Nearly Two Months Later it is STILL Hot, Hot, Hot

Managing Real Estate Broker with Jon Gosche Real Estate, LLC - Designated Broker DB29503

A few months again (and surprisingly my last post, I wrote a blog post entitled Man, it's HOT, HOT, HOT.  Well, it was in part due to the weather (it has been a surprisingly hot summer for Boise, Idaho) but also about the real estate market in this area since the beginning of the year.

It hasn't stopped.  We've been so busy that Active Rain and my blog have fallen by the wayside.  My husband and I even jumped on the buying bandwagon and purchased a new home.  All that said, things haven't slowed down much and Acar Watercooler has another great post showing July's market report in pictures.  If you don't have time to read an entire article, surely you have time for a quick peak at numbers by pictures.

Check it out here - July Market Report in Pictures....The Fireworks Continue.

My question to you all - local or not.  Do you think this is sustainable?  What do you think will happen this last quarter, or 2013 after the elections are over?  I have some thoughts, but I'd like yours.


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David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Nice isnt it! Smart people are taking advantage of lowest rates ever and with a lower priced housing market its more affordable than any time in the last decade plus to be shopping for a home!

Sep 03, 2012 05:43 AM #1
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Hi Kasey! First of all, I am sure you worked with the best Realtors in Boise, ID when you purchased your new home :-) Congrats!

I like to think things are going to stay very active for awhile - like David said, low rates + low(er) prices = great time to buy. Stable and increasing prices will also bring out more move-up buyers ready & able to finally move up ..

Sep 03, 2012 07:12 AM #2
Kasey & John Boles
Jon Gosche Real Estate, LLC - - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Hi David - It's been a great year all around - though it is tough for buyers when things are so hot and they lose out to mutiple other buyers.  We've had a lot of investors come back into our market too, so it's definitely more competitive.

Andrea - I think things wil stay active for a while too, however, in my area in partiuclar we have seen a 15-22% increase in prices and I worry about that a bit - we really shouldn't be appreciating that quickly, it was one of the major issues in our bust and I just don't want to see a "double dip" depreciation situation.  It's been an interesting summer and short sales are slowing down here though.

Sep 03, 2012 12:57 PM #3
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Kasey:  As far as being sustainable... I think it just might be.  What we have had during the slow-down over the last three years or so... has been accompanied by what I call "pent-up buyer demand."  Those folks are still out there... but it's to the point where many of them no longer want or need to sit on their hands.

That pent-up demand will fuel the market for quite some time, I believe... unless some nasty calamity happens.

Sep 03, 2012 04:21 PM #4
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

I am so glad to hear that you are all doing so well.  Sorry about the loss of the dark room and all the accompanying joy of that hobby, but I know that you will be happy in your new home.  And, I wish you all the best in the rest of 2012 and on into the future!  You deserve it!

Sep 05, 2012 11:17 AM #5
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Kasey & John Boles

Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties
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