Today is another one of those days of panic. In the real estate market and the Boise housing market as well as markets all over the world. Boise Home Price Predictions by most experts have been consistently wrong just as in stocks bonds and everything else. A month ago in May the stock investors were chanting there yearly mantra of "sell in May and go Away" while the stock market rose. Boise home prices accelerated and inventory dropped.
Now over the past couple of weeks Boise Home Loan interest rates have gone up 1/2% to 1% depending on the loan and borrowers information. So what should we do?
Ignore the day to day expert predictions for the most part. Look at trends. Realize that panic usually turns out to be an opportunity to do the opposite. I used to be very invested in investment real estate. I owned lots of rental property and three or for businesses through the 80s and 90s. I sold my last rental house in 2004 and I bought one that I have spend lots of time enjoying as a hunting base and just a nice retreat. I didn't buy it as an investment. I bought it to use. I made quite a bit of money on some of my investments in real estate. But never made a killing on the few homes I have lived in in my 60 year life. So here is my Boise Home Price prediction. Prices will go down. Prices will go up. Prices will stay the same. Just like stock, timing the market ON PURPOSE is very difficult and it usually doesn't match your big life changes like when you are ready to move.
If you sell high and are buying a new home you will usually be buying high on another. If you sell low you probably will buy at a bargain price. So don't get to wrapped up in timing. Being out of debt provides for a lot of freedom because you don't have to concentrate to much on timing.
Home inventory in Boise is very low. People have been chasing the lower priced homes. Not so much the higher end homes. There are still good deals in spite of the scarcity and prices are no where close to where they were at the top. So relax and go to www.BoiseMeridianRealEtate.com and browse, whether you are buying or selling. Don't get to wrapped up in Boise Home Price Prediction. If it is time to move list your home. If it is time to buy your first home start looking, get pre approved. If you have a house you see and love it make your move. 1% in interest rate on a $100,000 loan is $1,000 a year or $83 a month on your payment. So realize that you have a lot of moving averages to contend with. Using a little emotion in your decision is all bad. Time smooths out most things and you few people are going to buy at the absolute bottom with the absolute lowest interest rates. And few are going to sell at the top. Getting it close is good and buying a home that you are toing to live in for years and years is usually a good thing.