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New construction in Boise is saturated and yet, there is another new community being marketed.

Main / Idaho Real Estate Insights

Paradigm Construction starts building Pine Tree Village/

I saw numerous permits for this Boise subdivision pulled recently but it did not list the name and today I figured it out. I have not learned much about it yet but here are the listings and location- Pine Tree Village . it looks like it will have many new home upon completition.

Trey Langford
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Posted by tlangford at 2/15/2009 9:21 AM

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Comments (6)

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

Great news! We are running out of land and available units here in the valley. Glad to see that builders continue to prove their intellegence nd bring product to such a robust mrket. You can here the applause from renters everywhere

Posted by emdeplam on 2/15/2009 3:05 PM

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

If you had taken the time to click on the link to Pine Tree Village, you would have seen that the project is an infill project and that the units are priced from $144,900 to $164,900. I think Trey might have chosen a more appropriate title. His broad statement that "New Construction in Boise is Saturated" ignores the fact that there is still demand, particulartly for homes priced at 2x to 3x the median income, and that this segment of the market is anything but saturated.

Chuck Miller GMB CGB MIRM CMP MCSP CSP
President / Builder ? Chuck Miller Construction Inc.
(208) 229-2553
www.chuckmillerconstruction.com

Posted by Chuck Miller on 2/15/2009 7:00 PM

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

Great point Chuck.
Trey

Posted by tlangford on 2/15/2009 7:41 PM

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

I had looked at it, but dont have inventory split by price range. Just from my visual assesment, the inventory in that price range has risen correct? Maybe lots of people pulled out of market in winter, but every town home complex I see has plenty of for sale signs....and yes it is 3X (2X maybe for Silicon Valley), so if you believe this is middle of the market house you ae right on...my gut (and I am not a (R) or builder) is this is entry level and those people dont have incomes ~50K per year to support this.

Posted by emdeplam on 2/16/2009 4:37 AM

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

These properties priced right at 3X entry income of 30-35K will move fast (90-100K per unit)

Posted by emdeplam on 2/16/2009 4:37 AM

Re:New construction in Boise is saturated and yet, there is another new community being marketed.

I would like to commend Chuck Miller for providing a real perspective of what this community is offering. Anybody who has done the research will see that this product is exactly what the Boise area needs. A lot of times to get a great price on a home, you have to compromise on the quality of the home. Not in this case. Granite counter tops, hardwood floors, knotty alder cabinets, tile floors, stainless steel appliances, for these prices is really amazing. This is one of the most credible builders in the area and they have decided to provide a great opportunity for homebuyers. This community has a pool, walking paths, open space, and proposed city park and is located 2 miles from The Boise Towne Square Mall, 2 miles from Edwards Cinemas and other shopping and dining. There is very little saturation of new homes in the Boise and Meridian, in fact they are extremely low. New homes are becoming very scarce! What the market is saturated with is short sales and foreclosures. I commend this builder for actually pricing this product to sell and giving homebuyers the opportunity that they so desperately need right now! And on top of that they are putting a huge number of subcontractors to work. One home puts a lot of people to work, and with 28 homes under construction right now, they are doing a huge service to help out the economy.

Posted by Anonymous on 3/10/2009 10:02 PM

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