Boise, ID Real Estate News

By Shaun Greer, Real Estate Marketing & Real Estate Lead Expert
(Motivated Real Estate Leads.com)
Selling your home in Boise Idaho these days is not an easy and quick process. Boise is the capital city of Idaho and is located in Ada County along with Eagle, Star, Meridian and Kuna.In July 2007 there were 5,198 houses for sale in Ada County and only 12.4%, 648 of them sold. That means the rest of the over 4,500 home sellers are still waiting for a buyer to submit an offer.There are many reasons why there are so many houses on the market and so few are selling. Boise and the surrounding cities have experienced substantial boom over the last 2 years and this caused home builders to over supply the real estate market with new houses.Lenders have tightened their requirements for potential home owners to qualify for a loan. This limits the amount of people who can actually get funding to ...
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By Paul Kerr
(Silverhawk Realty)
Attention all buyers for the Boise market.   Don't wait any longer or you might miss the boat.  It's the top of the buyers market right now.  I've know of builders who need to sell NOW or loose it to the bank.  I know many builders who are selling at or below cost just to get out of homes that have been sitting on the market for more than 8 or 9 months in many cases.  Home sellers in the Caldwell/Boise area are also getting desperate.  They have dropped their prices and they still are hardly getting any showings.  Some of these people just need out of there situation. There are simply too many homes on the market and not enough buyers.  And this is the good news!  buyers, take note of my warning and start taking a look at our market before it's too late.  There are lots of opportunities...
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By Mark Horan, "The Resident Chef" - Resident Team Realty LLC &
(Resident Team Realty, LLC & Toni's Property Management LLC)
 My wife and I went to Boise Idaho in October to attend my sisters wedding. The scenery in the mountains was just breath taking. Boise is a great place to live. A week before we arrived a herd of Elk came into the city. It reminded me that there are places in this world that don't have to move as fast as every where I have lived.We had a very relaxing weekend. I would love to return.       I love Geese.       The Boise River           I had to add a picture of the blue field.     The beautiful mountains at 6000 ft. 
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
Recent statistics indicate that 80% of all home buyers use the internet to find their next home. I recently had an experience with a prospective buyer that taught me much about the role of the internet in buying a home in Boise. This buyer was from Southern California, had a lot of free time, and thought the internet was her best friend when it came to figuring out the Boise, Idaho real estate market. It all began last May 27th when she registered to view listings on my website www.BoiseReal.com. I promptly replied and we began our 3½ month online relationship as I answered literally hundreds of questions to help her understand the Boise, Idaho real estate market. I educated her on areas, commute times, shopping, schools, subdivisions, builders, the home buying process in Boise, financ...
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By Aaron Catt
(Southern Idaho Management)
As a way to generate some activity to my new blog at www.boisearearents.com I have started a gentle email campaign to all of my clients.  Now, these aren't people who I don't know, they are either current or past clients (with some friends, and family in the mix too).Tonight as I was posting about the Boise real estate market, I decided that I would make a case study out of selling my own home.  So, I will be taking my clients for the same ride that they go through, employing the same techniques that they have access to through me and my marketing to show them exactly how the market is currently behaving in our area, more precisely, the area that I live in.  I have been educating my clients on how markets are local and that there can be good and bad markets within a mile radius of one a...
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
Here’s a snapshot of August's real estate activity for Ada County: Available Homes # Available: 5,158Average Asking Price: $372,798Median Asking Price: $285,000Pending Sales# Pending:  609Average Asking Price: $315,231Median Asking Price: $248,773Closed Sales – August 2006 # Closed:  932Average Sales Price: $278,566Median Sales Price: $242,000Closed Sales – August 2007 # Closed: 601% Change:  -35.5%Average Sales Price: $286,066% Change: + 2.7%Median Sales Price: $236,250% Change:  - 2.4%Data taken from Intermountain MLS and pertains to single-family residences on lot or acreage.  Data does not include condominiums or townhomes.
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By Kelan Robert Stewart, Following in the Footsteps of My Father
(ActiveRain (Intern))
Vs.  My mom is from the Boise area of Idaho. Caldwell Idaho to be exact, but to pretty much everyone else in the world, it's Boise Idaho. (and by the way, do not pronounce it with a Z sound like BoyZee.....oh no, not down there, it's BoySee. I'm only two months old and not even I can get away with it.)Well in my Mom's senior year of high school, her Mom and Dad (my grandparents) moved to the Seattle area so that Grandpa could work for the Seattle Police Department. When my Mom graduated she made her way up here too and ended up getting her degree from the University of Washington. So my Mom is a Husky.Now if you have ever been to Boise (with an S sound, not a Z) then you know that on the local sports scene there isn't a whole lot going on. Let's just say that when we went to visit a co...
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Tracking the Track RecordWhat the "Experts" say about Housing Prices.  "the prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline."  -Time Magazine 1947 "Houses cost too much for the mass market.  Today's average price is out of reach for two-thirds of all buyers"  -Science Digest 1948 (average price at the time: $8,000) "The goal of owning a home seems to be getting beyond the reach of more and more Americans."  -Business Week 1969 (average price at the time: $28,000.)"the era of easy profits in real estate may be drawing to a close."  -Money Magazine 1981 "If you are looking to buy, be careful.  Rising home values are not a sure thng anymore."  -Miami Herald 1985"Most economists agree...a home will become little more that a roof a...
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By George Tallabas, Idaho Real Estate
(RE/MAX Advantage)
The news is loud and clear.  Home prices across the country are falling and this has become a home buyer's paradise. Boise Idaho Real Estate is no exception.  As of the writing of this blog there are 929 homes listed in Ada County between $100,000 and $200,000.   This is the highest inventory of homes that I can remember in the 27 plus years I have been a licensed Realtor.To take advantage of the opportunities that exist there are some things you must consider when you make the decision to become a homeowner.1) Get loan approval, not just pre-qualified. There is a big difference between the two.  Pre-qualified simply means you could possibly qualify for a loan.  Pre-approved means you are good to go and are a strong buyer.  It also means that your credit and income and job status qualif...
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By George Tallabas, Idaho Real Estate
(RE/MAX Advantage)
Real estate has been on the news lately and the latest report today, Monday August 27, 2007 indicates the median price of homes across the country fell for the first time in years. Boise Idaho is no exception.The National Association of Realtors stated home prices fell for the 1st time in 11 years and supplies of homes are at an all-time high.  The report also states that home prices are expected to fall further through the end of the year.Many Boise Idaho and other residents across the country are facing the dilemma of having no one look at their home, especially at the higher price ranges.Many sellers want their Realtors to:Have Open houses weekly or at least monthlyRun ads in the local newspaperRun ads in many of the local home magazinesRun radio and T.V. advertisingJump out in front...
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By Donna Lueder, Meridian Idaho Real Estate
(Integrity Group Inc. )
Well this week starts another season for the Tostitos Fiesta Bowl Champions of 2007 the Boise State Bronco's. Who could possibly forget quite possibly the best bowl game in history on New Years Day 2007 when the underdogs of Boise State Broncos defeated the Oklahoma Sooners in overtime with a 43-42 victory stunner!  Can the Cinderella Story Boise State Bronco’s have another stellar football season? Well the locals here in Boise are willing to take that bet. Ranked 23, Boise State opens their 2007-2008 football season against Weber State this Thursday night 7:00 pm at home here on the famous Blue "Smurf Turf". What will the season bring? Hopefully another bowl birth!
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By MarQuis Rhodes
(MarQuis Real Estate Group/Boise River Properties)
Often times when a Real Estate market heads south it is normally because of a much needed correction from escalated appreciations.  When supply is low and demand is high, Property sellers are able to mark up the property price well above 16% of the normal median.  In Boise, Idaho we had a 4% jump in Price Growth from 2003 to 2004 and a 16% jump from 2004 to 2005. 2006 was the start of our correction falling 6% from 2005. Our first quarter's statistics show our market falling an additional 6% from 2006 and another 8% for the second quarter. Boise Housing ReportsMost Champion agents refer back to what I call "The Basics". When our market tightens switching from a sellers market to a buyers market our buyers become a lot more confident with the abundance in choices and our sellers become a...
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
The real estate profession clings to many outdated business practices, but here's my nomination for the Top Ten Archaic Real Estate Practices:10)   Office tour9)     MLS tour8)     Itty-bitty print ads that say “Hurry, this one won’t last!”7)     Black and white marketing materials6)     Full graphics on an agent’s Hummer, proclaiming that they’re #1 5)     Bus bench ads4)     Grocery store shopping cart ads3)     Delivering pumpkins to your neighborhood at Thanksgiving2)     Including recipes in real estate newsletters And, my favorite: (bada boom!) 1)     Handing out note pads and refrigerator magnets to your neighborhood! (As a Realtor®, nothing is more fun than calculating the net proceeds for one of my sellers on another agent’s scratch pad as I glance at their refrigerator magnet...
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
That old saying is worth remembering in our current Boise real estate market. I got a call, while in San Francisco at Inman Connect a couple of weeks ago, from a referred seller. The caller didn’t know it was 6:30 a.m. in San Francisco, and that I was still half-asleep in my hotel room, but I called him right back and we had a good chat. He was pretty fed up with his present listing agent, and for good reason. She told him that her office had “a list of 1,000 people who would be eager to see his home” if he would just sign on the dotted line. He signed the listing. Then, three weeks went by and no one looked at his home. Gee, mebbe all 1,000 of them were busy or sumpin? That listing followed his first listing with an agent who overpriced his home by $100,000. So, here I am, listing age...
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By Brian Brumpton, Boise Idaho Real Estate
(Keller Williams Boise)
Well Boise, Idaho we have arrived.  Matt Damon showed up today to premier the Bourne Ultimatum to raise money for charity.  Watching the interviews, I think we owe him a thank you.  He had nothing but good things to say about the area and was appreciative of the warm reception he was given on his return visit.I like the idea that movie stars consider the area low key.  To some of the locals the growth we are experiencing has been a burden.  Apparently not so to those who live in the day to day hustle of the big cities.  That's what I love about Boise.  As big as it has become, it still hasn't lost the small town feel.  For more information on real estate in the Treasure Valley are including Boise, Eagle, Star, Meridian, Kuna, Nampa, Caldwell or Middleton visit my website at http://www.b...
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
Recognizing Boise's continuing economic expansion, hotelier John Q. Hammons has announced plans to build a 10-story, 250-room Marriott hotel in downtown Boise.The new hotel will be built adjacent to the new 130,000 sq. ft. Boise Convention Center, now in the planning stage.The combined cost of the Boise Convention Center and hotel is expected to approach $100 million, and the new facility will include 300 underground parking spaces.John Q. Hammons manages 63 hotels across the U.S., including various Embassy Suites, Hilton, Courtyard By Marriott, Radisson, and Sheraton hotels.
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
Boise, Idaho real estate values have soared in the past few years, causing many potential buyers to rent instead of buying.Property managers are reporting  that the scarcity of available rental properties is also due to an influx of new residents who sometimes choose to rent while deciding where to buy.According to some industry experts, the Boise area absorbed 22,000 new residents last year, many of whom elected to rent.A recent article in The Idaho Statesman revealed that the overall vacancy rate for single-family rental homes has dropped to a shockingly low 2.4%.This is in stark contrast to a 12.8% vacancy factor a year earlier.The obvious outcome of this tightening rental market is rising rents.
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
You've finally sold your home and you're really excited, but there's this little "issue" that has come up ~ your buyer wants to move into your home before closing escrow. Their moving truck arrived early and is costing them a fifty gazillion $$$ a day to sit idle, it's the only day they can move,  it's Friday and they have to move in over the weekend, it's the only day his brother-in-law can help them move, they start their jobs Monday, yada, yada, yada ~ get the picture? They're being really nice about it, they're nice folks, and you don't want to look like a jerk.Well, get over it and here's why: Allowing a buyer to move into your home before closing is not a good idea for a variety of reasons, including risk of loss or damage to your home, insurance issues, legal issues, and the pos...
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
In the Boise, Idaho real estate market, we Realtors® are often blamed for prices. Buyers blame us when they’re too high, and sellers blame us when they aren’t high enough!I can't win !!   Q: Who really establishes the value of a home? A: The market does! Real estate prices are a simple equation of supply and demand. Too much supply and not enough demand = lower prices. Too much demand and not enough supply = higher prices. Remember: There is no established value until money changes hands !
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By Phil Hoover, Real Estate Broker
(Phil Hoover, Inc.)
Here’s a snapshot of June's real estate activity for Ada County: Available Homes # Available: 4,968Average Asking Price: $381,880Median Asking Price: $298,990Pending Sales# Pending:  831Average Asking Price: $324,343Median Asking Price: $255,190Closed Sales – June 2006 # Closed:  1,163Average Sales Price: $278,073Median Sales Price: $241,145Closed Sales – June 2007 # Closed: 726% Change: -37.6%Average Sales Price: $282,483% Change: + 1.6%Median Sales Price: $238,900% Change: - .9%Data taken from Intermountain MLS and pertains to single-family residences on lot or acreage.  Data does not include condominiums or townhomes.
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