Wildernes Ranch Home Sales Main Idaho Real Estate Insights
Wilderness Ranch in in Boise County near Idaho City. It is about a half hour to Boise and has everything someone who enjoys the outdoors would like.

Wilderness Ranch Home Sale Statistics for 2009

• 2009 started off with an excess of listings that carried over from the previous year.
• There were 26 homes actively listed on average for 2009 of which 12 were newly listed in 2009
• 12 total Home sales were completed
• Plus 2 Lease purchase agreements
• 2 of the completed sales were Bank owned properties.

Wilderness Ranch land sales statistics for 2009

• 2009 was a dismal year for land sales in Wilderness Ranch. There were zero land sales to be reported out of an average of 12 listings. In fact land sales in all of Boise County were a dismal record low for 2009 due to three primary factors.
1. Bank financing on vacant land and building/construction loans was extremely tight.
2. The land loans that were available had high interest rates and required 20%+ down payments and a near perfect credit score.
3. The largest factor being that buying an existing home was by far more attractive cost wise compared with the cost of building when you factor in extremely low home interest rates, tax credits and depressed home values.

Boise County 2009 Land sales

• There were over 170 land listings in 2009 in all of East Boise County
• 16 total land sales were completed

Boise County Home Sales 2009

• 36 total completed Home sales in E. Boise County; 12 of which were sold in Wilderness Ranch.
• 11 of the 36 homes sold in E. Boise County were bank owned; two of which were in WR
• 1 Short Sale completion

2010 Wilderness Ranch & E. Boise County predictions & forecast

The first half of 2010 has promise to continue strong as a result of the following factors;
• $8000 first time home buyer tax credits were extended to April 31.
• $6500 tax credit for any home buyer who buys a primary residence and owned their home previously for three years.
• Continued low interest rates.
• Home prices in general have become more realistic
• It is unknown and not to be expected that an extension on the tax credit will be extended.

*(You need to have a fully accepted purchase & sale agreement and be in full escrow by April 31st 2010 and complete the home sale (fund & record) by 30 June 2010.)

While nobody has a crystal ball, Economist agree that interest rates are expected to climb when the Feds meet this summer and are predicted to be at 6%+ by end of year and increasing to 7% in 2011. As an example; a home buyer who borrowed $100k for a home at 6% instead of 5% would pay about $65.00 more per month. At 7% that would be an increase of $140 per month over a 5% loan.

Commercial Real Estate is predicted to fall out in 2010 as did the home market in 07 – 09 increasing the woes of lenders. Bottom line is; if you are looking to buy, take advantage of the low interest rates and tax credits now.

From Paul Heim

Learn more about Wilderness Ranch

Wilderness Ranch Idaho City

Posted by tlangford at 3/12/2010 3:02:00 PM
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Samantha Dunn, Idaho Real Estate Agent

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