I am taking a totally different approach to selling homes in Idaho this year. I have represented seven developers and closed brand new homes built by 68 different builders in my 30+ years as a licensed Realtor in Idaho. I will take that knowledge a new direction in 2022 to help my buyer's avoid the frustration of the bidding wars and losing out to cash buyers.
In 2021, I set a personal record (one I hope to never beat) of submitting 12 offers for a buyer, all at or above list price, before we were able to get one accepted. My last contract accepted in 2021 was written, presented and accepted by the seller within an hour and a half of the home hitting the market. The home was available to show at 6:30 pm, so we were there promptly and I told the agent to look for our offer shortly. I was the first and only Realtor to show that home because in an hour and a half, the seller had already accepted our offer!
The feeding frenzy we have currently is not very fun for Realtors or their clients. With Boise and the Treasure Valley growing at one of the fastest rates in the United States, we don't have enough inventory to meet demand. That is why we see bidding wars and offers sometimes tens of thousands of dollars over list price! We have more Realtors (6,822) in the Ada County than we do inventory (505 single family homes) listed in the Intermountain MLS).
As a matter of fact, in 2021, there were 10,460 single family homes sold in Ada County according the IMLS. Each listing has a listing agent and a selling agent so that accounts for 20,920 transactions for the year. That is an average of only 3 single family residential transactions per Realtor for 2021! If I expand to include Canyon County, sales increase to 16,811 single family homes sold and the number of agents increases to 7,208. This is an average of just under 5 transactions per agent for 2021.
With so few homes available for my buyers, I am changing my strategy for 2022. I am focusing on future inventory and new construction! I have teamed up with other brokerages and builders to help sell homes that are not even built yet. This way, the buyers can select their lot, their floor plan and their amenities and lock in the price before the feeding frenzy ever starts. In most cases, I will represent the buyer, not the builder since the builder will probably have their own agent possibly only representing that specific builder (i.e. CBH Homes, Hubble Homes, Boise Hunter Homes, etc.). Some builders in Idaho won't even list their homes until they are about 30 days from completion. Therefore, I will be tracking those homes in anticipation so my buyers will be ready when those homes are listed.
I have built a great reputation over my 30+ year real estate career in Idaho and will not represent a single builder exclusively. I like to give my buyers choices and not be limited to just a single builder's floor plans and lot availability. Therefore, I can sell brand new homes for any builder in the Treasure Valley.
If you are planning buying a home in Idaho in 2022, let's set a time to meet in person, or virtually, to discuss your objectives. We will discuss your budget; when you want to move in; what county/city you want to live in; what lot size you prefer; any specific wants/needs (i.e. RV garage or parking, main level master, etc.); and then put a plan in place to help you buy a home in Idaho in 2022!