With all the bad press it is hard to know what the truth is? Main Idaho Real Estate Insights

Perspective is everything. But take it all in stride and keep an open mind about idaho real estate.

If you are a buyer

  1. You have more choices than in previous years
  2. Interest rates are great. Ask your Dad or grand parents!
  3. The market has cooled and therefore buyers have more power.

If you are a seller

  1. If you purchased your home 5 years ago, you have plenty of flex on the price depending on how motivated (or greedy) you are to sell. If you  purchased 2 years ago or less, you gambled and it probably did not pay off- sorry. If you don't have to move, stay in the home two more years and you could be at ease again.If you purchase a home to live in for years to come, you don't have to worry about market conditions
  2. You have lots of competition if all you have to offer is bedrooms and bathrooms. If you have a unique home or a great subdivision, you have competitive advantages. Even a mature peach tree has value to the right buyer.
  3. If you purchased your home as an invetment, why are you selling? If you purchased as an investment, maybe it was a bad investment. Boise is a city with lots of potential and is no longer a secret. In March-April the State of Idaho will realease data regarding how many new residents there are locally. You just need to meet one of them.

Learn more about Boise Idaho HOmes for Sale

Posted by tlangford at 1/24/2008 3:25:00 PM
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Comments (5)
Re:With all the bad press it is hard to know what the truth is?
The media is all about hype. On the way up and the way down.

Do your homework and understand your house as an investment unless you don't care about money. There are many reliable metrics for prices in the longterm which are much better than.

Prices are going down btw

Did you see my call on Countrywide HAHA! Wallstreet is realizing the deal won't go thru...toast!
Posted by on 1/25/2008 2:42 AM
Re:With all the bad press it is hard to know what the truth is?
Wait...I CRY B.S. from NAR.

"In 2007, home sales across the Treasure Valley dropped 33 percent from 2006.

Marc Lebowitz with the Ada County Association of Realtors says the figure should be taken with a grain of salt."

THIS IDIOT THEN GOES INTO HIS PUMP..."Lebowitz adds over the past five years, on average the value of homes in the Valley have increased by about ten percent each year. "

DONT LOOK AT THE NUMBERS... unless they are good.

Guess we are going back up 10% a year for the next five, downturn over here, buy buy buy!

READ BETWEEN THE LINES: My clients the agents are having trouble paying bills and need your commision now!
Posted by on 1/25/2008 2:49 AM
Re:With all the bad press it is hard to know what the truth is?
Emeplam-You are the sites best fact checker and always present the other side but all I get from you is every one is a liar and has there head in sand. Give us some advice. I'll be specific. What should a young adult looking to start a family with a stable job that pays fairly well do? You can play the "now is the wrong time to buy" card all day but that is not true especially if they just simply want to own a home for the kids sake. It is easy to rant and rave and call people dumb (by the way, your are right, most people are) but what we really need is help, some great advice. One of the difficulties of blogs is that we really aren't able to lay out all the factors of the topic so that both sides are able to get the entire story. Real estate is a dynamic dilemma as you are aware. I read your 1st comment several times. Read it again. Now, tell me who should be buying and why? Who should be selling and why? Is there a hot real estate market that you can tell us about? Real Estate- the Dynmic Dillema. BTW-When are you going to becom one the bloggers and get off the sidelines?
Posted by tlangford on 1/25/2008 9:26 AM
Re:With all the bad press it is hard to know what the truth is?
Advise for a young family :
1. Get out of debt and build cash - We are moving to a deflationary period (look at the T-notes). We are entering a period of capital preservation where in the near future, assets will decline. (cars, homes, boats, etc...). Billions of dollars are VAPORIZING...in housing, banks, equities...
2. Rent- Best value for money. Most people move every 5-7 years. I don't buy the need to nest versus the real need to preserve your flexibility to feed your family. Unemployment will rise and breadwinners who can relocate for work will have an advantage.
3. When to buy. Look for an extended period of decreasing inventory. That will signal a period of price reversal up.
4. If you feel you MUST buy, use the old school stds...28% of income to mort MAX, 3x income for purchase MAX...and no more than 35% of income to debt. 20% DOWN and be prepared to LOSE that money. Fixed loan, I perfer 15 years
5. Watch your investments...the VIX (volitility index) is elevated and if you don't want to risk your capital move to bonds or a better mix

I could be wrong, but signals are going off all over the place. Home prices and asset prices are highly unlikely to rocket north in a sustained way this year and the downside risk is scary.

Oh and most of all, talk to the debt zombies in society about how they sleep...talk to the divorced couples who argued about their finances...drive the McMansions and think...is this Boise? Do I need 3000+ sq ft? Major corporations like CAT, GE, ATT are all warning of a major slowdown. Why is the gov sending out $600 checks...fear, panic, why an emergency 75 basis cut from the FED, how much of the Boise economy depends on housing, building etc...

Enjoy the flexible life and use the extra cash as a renter to travel with the family and rent out the 2nd vacation homes from the underwater flippers.

A young family has only known good times. In good times wealth is CREATED, in bad times it is CONCENTRATED. If you have cash in hand in the next few years you will be blessed with opportunities.
Posted by on 1/25/2008 10:09 AM
Re:With all the bad press it is hard to know what the truth is?
Thank you. Good advice. Trey
Posted by on 1/25/2008 10:16 AM

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