Posted by: Larry Stevens | July 8, 2010

Don’t Walk Away from Your Future

Thank you for once again visiting my Boise Realtor blog! As part of offering the best Boise Idaho Real Estate services I provide this blog with the latest real estate news and statistics that effect YOU the Boise Home Buyer and Boise Home Seller. These are some of the most interesting and unique times for real estate in Idaho that we have seen in a long time; it is more important than ever to work with a qualified Boise Realtor in order to get the most for your dollar, avoid possible pitfalls, and navigate this ever more confusing real estate market. Let’s go ahead and get to the latest good news for Boise real estate:

Positive news from the real estate market amidst the overall somewhat dismal economic times we are in:

When it comes to single family homes the average sales price of a home in Ada County has gone up by about $6,000. Even better news is that Canyon County has seen that number increased to nearly $12,000, with April’s 573 closings setting a new high water mark in Idaho real estate.

Let’s look a little closer at the sales numbers. While the volume of sales hasn’t returned to the golden levels of 2005 and 2006, these latest figures do show promise. Even though Ada County closings are still down 9% it is likely due to a continued supply of distressed properties saturating the market. Distressed properties went through the roof in Ada County by 48 units – with 56 in Canyon County. Pending sales weren’t all they could be either, but despite those figures things may still be just getting ready for a much needed turn around.

The real estate market is still very much in recovery mode, and other economic factors contribute to that being an even slower process. It may take a while before we see the numbers moving like they were just a few short years ago, but many real estate professionals are confident that we WILL see those sort of figures again.

One massive problem still hurting the state’s chances of recovering faster is that people are walking away from their homes, even if they are employed and are making their mortgage payments. It’s easy to understand their thinking in living in a home that’s “under water”; many see their dreams as being just some empty hole they are throwing money into rather than the sound investment it may have seemed to be not that long ago. These people need to take a deep breath and look at the longer term market, yes things are very difficult now, but their homes are still very able to be worth their investment once the market returns. It’s hard to realize values WILL go back up, but this market that took so long to build up simply will not bounce back over night. The best advice is that if you are in a home, and are making the payments, buckle down and ride it out – you will only end up ahead of the game in the long run.

Are you looking to make the most of this Boise real estate market? Home prices and mortgage rates will not stay this low for long! Get in on this most promising market while the numbers are still in your favor! Contact Larry Stevens of AA REALTORS BOISE today to find out the benefits of working with a knowledgeable Boise Realtor !


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