2019 Boise Idaho Real Estate Blog

What are the most popular homes in Boise Idaho? Main Idaho Real Estate Insights
The latest Boise real estate trends for new homes for sale.

Here is a summary of how Boise real estate perspectives have changed over the last five years.

2005- Build it and they will come.
Framers became builders and demand was higher than supply so everything was selling no matter the price or quality, relatively speaking.

2006- Whoa, didn't see that coming.
The 700 pound gorilla in the room became visible. It turns out we were over building, Now no builder wants to buy lots and home values start to deteriorate.

2007- Is anybody out there?
Sales slow to a standstill and businesses start to realize that they are not going to survive as Idaho Real Estate goes from it's peak to a valley in less than three years and it does not look like the bottom is near,

2008- Are your stressed out?
The name of the game is distressed properties but buyers are still leary.

2009- Who's on first?
Home buyers return and soon the investors see light as well. Distressed property is still the name of the game and strong builders take advantage of banks and developers purging lots at below cost values. Builders are now able to build at prices to compete with distressed properties.

While many wonder where we are headed and if we are really at the bottom, those who are financially strong enough are taking market share and continuing to build. The new construction market saw more homes built in 2009 compared to 2008, about 30% more.

The theme of buy now or be priced out is gone and for those with strong jobs have an opportunity to find god deals, comparatively, on new homes. With builders competing against foreclosures they have to make it obvious that not only is the headach of trying to buy one of those proprties is not only a bigger headached but not as good of a deal.

Do your homework, network, ask for referrals and see what you can find. Get financing frst so you know what to do, amd how much you should look at price wise.

Dare 2010 to be your year,
Trey Langford

 
Posted by tlangford at 1/26/2010 2:23:00 PM
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Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

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