January 2010

There are 6 blog entries for January 2010.

Since 11.1.2009 there's been 98 sold Boise Idaho short sales.  The average sold price was $185,951 and median sold price $150,000.  SW Boise had the largest number of sold short sales with 30 while NE Boise had the smallest with 2.

You can search the list of Boise ID Short sales here for free & NO registration.

Data Source: Boise MLS (IMLS). Data not guaranteed.

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Compared to a year ago, December real estate sales in Meridian Idaho were strong with a 28% increase.  Almost half (47%) of the Meridian Idaho real estate sales were foreclosures compared to 38% in last month.  This is a higher market share than Boise & Eagle during December but less than Star that had a 72% market share.

 During December the Meridian Idaho real estate market closed 39  Meridian bank-owned homes and 20 Meridian ID short sales.  As you can see from the next graph, the amount of foreclosures was fairly consistent during the 4th quarter.
The graph below shows new home sales compared to existing homes sales in the Meridian Idaho real estate market.  November had posted the 2nd best month for new homes in 2009 with 73 but in…
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Here's the top frequently asked questions regarding the first-time home buyer tax credit:

When is the deadline?

The first-time home buyer tax credit is currently set to expire on April 30, 2010.  However, you may still be eligible for sales closing by June 30, 2010 provided there's a binding sales contract in force on or before April 30, 2010.

Who's eligible for the $8,000 tax credit?

First-time home buyer's purchasing a new or existing home between January 1, 2009 and on or before April 30, 2010. The IRS defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase.

Who's eligible for the $6500 tax credit?

A person who has owned and resided in the same home for at

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In 2009, there were about 7% more home sales in Ada County than in 2008.  It was the 2nd half of 2009 that showed the strongest surge in home sales when monthly sales were as much as double the previous year.  In fact, home sales from September through December were the strongest they've been since 2006.  The graph below shows home sales in Ada County from 2006 through 2009.

The number of homes for sale in Ada County has dropped considerably compared to '07 & '08 (data not available in '06).

The number of foreclosures filed (Notice of Default) in Ada and Canyon counties in 2009 rose 66 percent over 2008 (Idaho Business Review).

According to IdahoDataProviders.com, 8,639 notice of defaults were filed in Ada & Canyon County in 2009 compared

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Generally speaking, the areas further away from downtown Boise have been most affected in this real estate market. Areas like Star, S. Boise, and Kuna have had some of the largest problems with Foreclosures. The graph below shows the market share of foreclosures for December sales across Ada County. As you can see, the Star Idaho real estate ranked the highest with 72% of sales being foreclosures.

December fared better for Star Idaho than some months earlier in the year. In March, foreclosures accounted for 86% of sales.

(Note: It should be pointed out that in smaller markets such as Star, ID that sees only 10-20 home sales a month lends itself to a greater swing in percentages & ratios.)

Last month, the Star Idaho real estate market

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Homes sales over this fall have been very strong but did cool considerably in December as people began focusing on the holidays. The Boise ID real estate market had about 11% more sales in December of ‘09 compared to December ‘08. There were 203 homes sales in the Boise real estate market with a median sold price of $158,650 and a average sold price of $186,128.

Total sales in the Boise ID real estate market was about even in 2009 versus 2008 with 3017 this year compared to 2996 last year. However, the distribution of these sales was quite uneven as you can see in the following graph. 2009 home sales started off very weak but ended very strong as low rates and the first-time home buyer tax credit spurred sales. In November, there was almost 50% more

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