2020 Boise Idaho Real Estate Blog
What does it take to be one of the Best Selling NEW Communities in the Treasure Valley? Main Idaho Real Estate Insights

In real estate it has always been about location but as home values increased in 2018 it is becoming more about value.

We always say that the hardest part of finding a home for a client is identifying the area that is best. Once we understand where to look, finding the home is much easier. Home prices have increased substantially over the last 4 years, to the point that people are starting to evaluate the value of a community as part of their home search.

2019 Top  Boise Communities

What are many buyers looking at nowadays as part of defining their home search? We know that location is important but it seems clients are willing to compromise a little more. Part of this is becuse prices have gone up. So; for example, if the home went up several thousand dollars since they first looked, if they want the same amount of home, they may be willing to look further out. The house they wanted in Boise may now be that price but in Star or maybe they are looking in Calldwell?

Remember this, home values have gone up as land and other prices like lumber, labor and finishes also increased. The only way to really reduce the price of a home is to start with lesser priced land. You can also put lesser priced finishes in the house. Maybe you can forgo granite or maybe you get the builder's standard grade carpet.

Here is what we have learned about becoming a Top Community this year. Not long ago, location was key. Demand, Pricing and availability have changed the way people shop for homes. In 2005, many people we focused on appreciation and therefore looked at primarily location. Today, we evaluate the community as part of the home buying process.

Top communities these days focus on presentation. Location is by all means important but location is also a predicator to price, Eagle being more expensive than Kuna for example.

  1. Lifestyle
    Many communities tout 'how' someone can live in their community. Avimor offers Foothills living but also has a fantasic community center. Renovare offers modern upscale homes surrounding ponds and direct access to the Greenbelt. Paramount offers full circle housing with townhomes, single family homes and extended care facilities plus nearby schools, clubhouse with pool, ponds and even commercial. There are also communities like South Fork Landing in Garden Valley that is all about the river and mountains.
     
  2. Amenities
    Lakemoor offers waterfront property, pool and is also a gated community. Similarly Legacy, also offers more green space including an small golf course. Spurwing is a Golf Community with connecting Spurwing Greens and The Estates at Spurwing Greens offering different prices and opportunities to be part of a golf community with clubhouse, pool and exercise gym.
     
  3. Livability
    Many people are looking for lower overall costs to live somewhere. The do not want all those spifs, which can be expensive. They are looking for something with less expensive HOA dues and just want a nice place with nice people and maybe some green space so they are hit a baseball or throw a freesbee.

In the coming weeks, look for Build Idaho's 2019 Top Communities report which break down Best Selling, Top Luxury and most affordable communities. This report also includes pricing analytics summarizing median prices, price per square foot and range of price of homes sold.

 
Posted by tlangford at 1/14/2019 9:12:00 PM
Comments (0)
No comments yet, login to post a comment.

 

Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

Client Care Team
208.629.0217
[email protected]

★★★★★ 5 stars - "Our experience with Full Sail/ Build Idaho was great from start to finish! "