Of the ALL the homes priced up to $250,000 NONE of them sold for CASH! As a matter of fact, the average seller even paid $5,000 toward the buyer's costs.
That is the problem with just reading the headlines and not looking deeper at the data. How many homes created this statistic . . . only 1.
That's right, we have only had one single family home close in Boise so far in 2021 priced under $250,000. That property was only 624 square feet and was built in 1954!
If you are looking for a home in Boise, Idaho the competition is fierce right now. I tell my buyer's that if they submit an offer on a home the day it is listed, they will probably be competing with 6-15 offers. If there are 10 offers that the seller reviews, obviously only one buyer will be successful. That means, the next similar home will have at least 9 offers if no additional listings come on the market and assuming no new buyers come into the market.
However, at the rate that people are moving to Boise, Idaho; there will continue to be more buyers than sellers since more people are moving here than there are leaving! Builder's keep raising their prices and still can't keep up with demand.
There are strategies to use to make your offer stand out in this competitive market. Make sure the agent you choose knows how to play the game to help you win!
If you are in the market to buy a home in Boise or want to work up to multiple houses and hotels, call me. I am friends with the banker(s) too.
Call Jim Paulson, Owner/Broker of Progressive Realty Corporation at 208-573-0471 or email me at GoOwnIt@gmail.com
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