Friday, January 11, 2013
Home sales have a huge impact on a local economy. The fact that Boise has had 4 straight years of improving home sales is paying great dividends to this metro area. I stress not to measure the health of the real estate market just solely on home prices, but also keep your eye on demand.
Posted by MikeT at 1/11/2013 9:03:00 PM
Monday, November 26, 2012
Home Sales are up in all price ranges in Boise (Ada County). All prices ranges except homes priced below $120,000. The supply of homes priced under $120,000 is disappearing, which has lead to a sharp decrease in sales in this price range.
WHY THIS IS IMPORTANT:
Posted by MikeT at 11/26/2012 3:14:00 PM
Thursday, November 15, 2012
It is now the 4th quarter of 2012 and the nation has just reported over 6 months of positive housing data. Almost every analyst and industry professional is convinced that housing definitely turned a corner and we should see homes prices continue to rise conservatively for the next few years.
Posted by MikeT at 11/15/2012 9:43:00 PM
Friday, November 9, 2012
On Wednesday, many of my friends, colleagues, and clients asked me how (or if) the real estate market will change as a result of the elections. Most who asked were surprised and frustrated by the results of the election--a state I like to refer to as an election hangover. No matter whom they voted for, I think everyone had a bit of an election hangover, thanks to the massive amount of media dedicated to this important event. I can?t imagine what it is like to live in Ohio, with 24/7 election media in your face.
So let me get to the question at hand: Do I think the housing market will suffer with the election results?
Over the last 4 year I have had many tell me that if Obama was re-elected, they would not make any major purchases (like a home) or take any more chances with their businesses or investments because they were convinced the economy would come to a screeching halt.
Posted by MikeT at 11/9/2012 6:21:00 PM
Wednesday, October 24, 2012
Before you list your home for sale, it's a good idea to examine the sales/list price ratio.
The Boise real estate market has seen a big change in average sale price discount on home sales in Boise.
(See chart below.)
Tips For Boise Home Sellers:
Note the rapid change in the discount most sellers are having to accept on average closing a home sale in Boise. This is great news for homeowners. However, what you can't see in this chart is just which homes are selling. Some Boise homes are selling very fast and for full price, others are not selling at all. Can you guess why some homes are not selling? It's because they are not priced right for the market (or they have hired the wrong agent who is not marketing it well). The inventory of homes in Boise, Meridian, and Eagle is extremely low so homebuyers don't have a lot of choices. When a nice home hits the market and is priced right, it sells very fast and at a good price. Believing they
Posted by MikeT at 10/24/2012 4:49:00 PM