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2019 Boise Idaho Real Estate Blog

The State of Homes for Sale in Boise Idaho Main Idaho Real Estate Insights
Thursday, Mike Turner of Front Street Brokers organized a forum for about 400 people to hear what to expect in 2012 in Boise Idaho Real Estate. There were three different perspectives and each was different with different conclusions

Boise Idaho Real Estate Report

Marc Lebowitz of the Ada County Association of Realtors started us off with several different perspectives. One was that the local economy still has almost 9% unemployment, so we should not be overly optimistic about 2012. On the flip side, Over the last several months, Boise has been ranked the #6 Real Estate Recovery town and several other positive and negative rankings. His message was that the real estate world has changed and Realtors© must adapt. His message to Boise Real Estate Agents was to simplify everything for home buyers because they have too much information.

Robert McQuade, Ada County Assessor

Robert H. McQuade

Ada County Assessor

Mr. McQuade, the Ada County Assessor, talked about his job and "market value" of Boise homes. He has a very complicated job and his team is to chraged with assessing the value of every home in Ada County. He predicted homes to lose value by 4% with a plus or minus 6% room for error. Seems kind of weird but he says it is too early to determine what values will do.

Mike Turner took about two minutes to gear up and then he started on on why he is so optimistic about the Boise Real Estate Market. There are several things lining up that may create a variety of reactions.

Mike reviewed inventory trend, home value trends, starter home sales activity, new construction trends and other facets of the Boise real estate market. His conclusion is that the way everything is lining up new construction should have a really good year because there is not much inventory and people are not finding what they want so he expects them to start buying new homes or building a new home. He also pointed out why home values should start appreciating even in the face of the national economy, local unemployment and other factors that effect the Boise economy.

Mike made a great case for his conclusions and I think he was very logical in his appraoch. I also appreciated how he looked at trend but pointed out factors affecting them. For example, one trend Build Idaho has noted is that permit values are as high as they have ever  been. Does that mean that construction costs are up, that we are building more expensive homes or homes are bigger. I don't think so. It probably has more to do with the fact that there are fewer starter homes being built!

Have a great year dreaming about your new home and if we can help, let us know how!

Trey

 
Posted by tlangford at 2/10/2012 12:37:00 PM
Comments (1)
Re:The State of Homes for Sale in Boise Idaho
Mike was dead on in his presentation and analysis. Most real estate professionals are very optimistic but I believe their world is going to change even more still.
Posted by on 2/13/2012 8:42 AM

 

Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

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