Today, 10-24-2012 Reuters reported that New single family home sales "surged" to their highest level in nearly 2 1/2 years. They said that this is further evidence that the housing market is recovering and is gaining steam. There conclusion is that the housing market is on the mend.
Still, here in Boise Realtors are having a difficult time. We are dealing with people who still think this is a buyer's market. Many of my agents are writing multiple offers that are turned down by sellers and sellers are getting multiple offers. I say it is STILL a buyer's market if you put it in light that prices are still down a LOT from the peak. Yet prices are rising and sale prices in some areas in the Treasure Valley, Boise area are up over 25%. Buyers get frustrated because they want to make low offers. Good Realtors are pricing right. Short sale banks are usually counter offering. Even with the new "regulations" they know how to drag things out. They are to respond in 45 days or even 30 in some cases but they can drag it out with a counter offer.
It is more important than ever for we Realtor to educate buyers. We need to show them CMAs. Still many will want to throw a low ball. They soon get frustrated doing that.
It is a changing and challenging market. It is getting hard to price homes to list too. In the boom we often priced homes higher that we thought their true value was and then wham! Full price offer. It is getting like that again. It is almost easier to have to talk a seller down to a realistic price than now being afraid that we are not pricing and getting the maximum amount possible for our sellers.
If you are a buyer or seller visit www.BoiseMeridianRealEstate.com and I know you will think it is the best real estate website in the Boise area. If you are a Realtor and want to be busier call me or Kasey Boles at 208-830-6186. We need help!
We are happy that new home sales jump to near 2 1/2 year high!
Jon Gosche Broker 208-870-2115.