Posted by Chase Craig on April 1, 2011 at 9:38 pm
Take a look at this article…It’s amazing to me how easily you can spin good news to make it seem bad.
Someone estimates the amount of homes that 7.2 months are and some how it becomes etched in stone that we have 4,400 future distressed properties that have yet to come on the market. To quote a good friend of mine, “Whose crystal ball are you gazing at?”. Sure someone is taking a stab at it…they were asked a question and gave their answer…do you think the thousands of people that “read” this article really dissected it though? I’m sure that most people read the headline and made up their mind…unfortunately.
Unless you are getting factual numbers from banks, there really isn’t any number that we can hang our hats on. Sure there are some homes that are being foreclosed on or have already been foreclosed on that haven’t yet hit the market. But to throw a number on it as if it were gospel is very reckless in my opinion.
Let’s focus on the facts.
Fact #1 – Ada and Canyon County inventory levels are currently at the lowest they have been since 2006.
Fact #2 – We currently have about 5 months worth of supply on the market today. (Some people consider the tipping point for moving from a buyer’s to seller’s market and visa versa is at the 6 month inventory level. Less then 6 months = advantage seller…More then 6 months = advantage buyer.)
Fact #3 – Inventory levels of distressed properties have been decreasing monthly.
Don’t believe every headline you read in every paper you see…Look for the subtle facts that they sneak in hoping you won’t read the entire article. It’s a great time to buy a home in Boise Idaho!
Chase Craig
Boise Idaho Real Estate
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Posted by Chase Craig on March 22, 2011 at 9:36 pm
3,062 Active Real Estate Listings in Ada County
1,873 Active Listings in Ada County that are non-distressed properties.
*870 Active Short Sale Listings in Ada County.
312 Active REO Listings in Ada County.
*285 Active Listings Currently in Foreclosure in Ada County.
* Note that some short sale listings are also currently in foreclosure so the total number of listings broke down is higher then the total number of active listings in Ada County.
Information courtesy of the Intermountain MLS.
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Posted by Chase Craig on March 18, 2011 at 7:23 pm
Siting that the Boise job picture has improved as the only western market on their top 20 list.
Moody’seconomy.com is predicting 3,358 permits this year over last years 1600. Employment is also projected to rise by up to 2%
Keep your fingers crossed Boise!
Boise Idaho Real Estate
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Posted by Chase Craig on February 19, 2011 at 7:20 pm
This information can be seen in depth at http://www.intermountainmls.com/Statistics/NAREconomicWatch.aspx
“Employment declined by 3,773 jobs in October and November. The job losses brought about an increase in the average monthly unemployment rate from 8.5% in the third quarter to 9.1% for the initial two months of the fourth quarter. Layoffs continued to rise, which will weigh on buyer confidence and demand in Ada County. However, mortgage rates remain near record lows, maintaining a favorable buying environment for those with a job.”
My Favorite line is at the bottom…a favorable buying environment for those with a job…If you have a job and can afford to buy a home right now but don’t currently own one in Ada County, what are you waiting for?
Chase Craig
Boise Idaho Real Estate
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Posted by Chase Craig on February 10, 2011 at 7:58 pm
Sales of homes in Boise for January 2011 were up. The total number of sales in Ada County was 339 which is an increase of 21% over January 2010. Ada County sales haven’t been at this level since 2008.
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