2020 BOISE IDAHO REAL ESTATE BLOG
In terms of resale- pay attention to the range of prices in a new neighborhood Main Idaho Real Estate Insights

Ever noticed the low's and highs of prices of homes in a new community. Pay attention, edpecially if you don't intend to stay there for an extended period of time.

Idaho Real Estate Insights

Idaho Real Estate ForumBoise, Idaho is still recovering from the real estate bubble we experienced. While it has been many years since it started and about 2 years since the uptick in activity and rising home values, there are still problems for home buyers.

One problem for past home buyers is that several communities were purchased by builders who build lower priced homes. Several failed communities started offering low priced lots and production home builders moved in. This is not bad but if the previous buyers were purchasing homes at around $300k and the next generation of homes are about $200k this discrepancy can cause problems for those first home buyers.

Today's buyers shoudl beware that in many subdivisions there is a wide range of prices. Sometimes is is justified with a large home on a large lot compared to the opposite or maybe some homes have more amenities. The appraisers may take this into consideration but if the homes are near each other, it could drag the more expensive homes down. Good for buyers, bad for sellers.

Point is, investigate the price of other homes in the community or nearby communites.

Learn more about average sales price of Homes in New Communities

 
Posted by tlangford at 8/16/2013 5:38:00 PM
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Michelle Penick, Boise Idaho Real Estate Agent

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Michelle Penick

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