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Boise Rated #10 for Falling Home Prices Main Idaho Real Estate Insights
Does anyone know what this means? No otherwise they would not print this.

First off it is based on percentages. What amounts do you think many Californians' homes depreciated? Would you like to trade them situations?

Here are my other thoughts-

  1. If your $300,000 home depreciated 15% and you bought it as an investment. You did not make a good investment. It's too bad but it was your risk.
  2. A home is a place to live. If you bought it for that reason you should be in that home for at least 7 years so you should not be distrought by depreciation yet. Seven years ago prices are not out of line with today's prices. Yes you may have been able to make thousands of dollars if you had sold at the peak of the market but that lead to point #3.
  3. If your home depreciated 15% and you have a job than you are set. If you want to sell your home and you purchased at the peak, that is a choice.
  4. If you want to move up,the home you are looking at probably depreciated at least 15%. So actually you may 'lose' money on your home but the home you are looking to buy is probably going to 'save' you money. And in real dollars, as opposed to percentages, you should be real happy

Point is, as with most things in life, It's all realtive. If you were looking for a great home and bought it, enjoy it for years to come and it will not matter what happened between 2005 and 2012. If you gambled and lost- you gamble and you lost. No gurantees in life folks but if you keep your head on straight and are conservative you shoudl have a lower stress level. When you push the limits or stretch the boundaries and things start to snap, you may find your self in hot water.

Trey Langford

 
Posted by tlangford at 3/12/2010 2:35:00 PM
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Comments (1)
Re:Boise Rated #10 for Falling Home Prices
Great post. Proof that it is all relative- The Intermountain MLS posted stats for Feb and home sales were up 50% from previous year. What does that mean?
Posted by on 3/12/2010 1:54 PM

Samantha Dunn, Idaho Real Estate Agent

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