May 2011

There are 2 blog entries for May 2011.

There’s currently a very unique trend in the Boise real estate. Historically, in the spring & summer months the number of homes for sale increases as more people list their home during the busiest selling time of the year.

However, 2011 has bucked that trend as the number of homes for sale in the Boise real estate market has continued down. Below you can the inventory levels in Ada County from January ’07 through April ’11. June ’08 was the peak with almost 5200 homes for sale and April ’11 was the lowest at 2133.

Homes for Sale in Ada County

This can be frustrating trend for some home-buyers with more unique requirements as there are fewer homes to choose from.

There are however many Boise short sales & Boise Bank-Owned Homes to choose from. Although, the overall number

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I often get asked, “what kind of discount can I expect off a bank-owned home?” My answer is often… “it depends.” Most significantly, it depends on how long the property has been on the market and when they last reduced the price.

The reality is most Boise bank-owned homes (REOs) get offers shortly after coming on the market or after a price reduction (which are often substantial).  As a result, most REO properties sell for full price or more.

In the last month there have been 126 bank-owned sales in Boise. Of these, nearly 36% sold for more than asking price and 31% sold for full price. In other words, nearly 67% of the most recent bank-owned sales sold for full price or more. For these 126 sales, the sold price actually averaged 1% over asking

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