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Trey Langford, Build Idaho Idaho Real Estate Insights
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When will it be safe to buy Idaho Real Estate?
Main / Idaho Real Estate Insights  

Any real estate question must be broken into market segments. Let's look at Canyon County Real Estate- It has reached the bottom.

There are a number of ways to determine if we have reached the bottom. One way is production of new homes and the Nampa / Caldwell area has reached the bottom. Permits by week for 2009-

Week One- 4 Permits
Week Two- 5 Permits
Week Three- 4 Permits
Week Four- 0 Permits
Week Five- 2 Permits
Week Six- 1 Permit

With almost no production, competition to sell real estate in Canyon County real estate is going to be extremely fierce. BuildingCredibility.com has been suggesting for months to do your homework so you are ready to strike. It is time to start sharpening your pencil and zero in on several properties or lots. The developers, builders and realtors know that every sale counts now. They will be offering every incentive possible and getting the costs as competitive as possible as well.

Bottom line. If you see something you want for your family say to your spouse "Let's just make an offer." 

Dream big in 2009,

Trey Langford

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Posted by tlangford at 2/19/2009 6:23 AM Permalink | Trackback
Comments (3)
Re:When will it be safe to buy Idaho Real Estate?
Do you have the same data for Ada County Trey?

Russ
Posted by Anonymous on 2/9/2009 11:19 PM
Re:When will it be safe to buy Idaho Real Estate?
I just received from the bank an update of the appraisal for the ICF home I'm building in Parma. We're getting close to converting the construction loan to a mortgage. In 10/07 the original appraisal gave the market value at 99% of the appraiser's estimated cost of construction. Now the same appraiser has dropped his cost of construction estimate by 14% but dropped the market value by 30%. This means his market value is only 75% of the cost of construction. Is this typical in the Tresure Valley, where the appraised market value is 25% less than what it costs to build a house? That just doesn't make sense to me.

Mac Eld
Nampa, ID
Posted by Anonymous on 2/19/2009 8:31 AM
Re:When will it be safe to buy Idaho Real Estate?
That sounds about right. That's one reason why builders have stopped building
Posted by Anonymous on 2/19/2009 10:46 AM
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