Boise Idaho Real Estate

Brighton Homes are guaranteeing their new home prices.  If they lower the price on the model you purchase in the next two years they will write a check for the difference.  They attribute their confidence in the new home prices due to the "lowest cost of material and labor in years."

Brighton Corporation, who owns Brighton homes, is one of the largest developers in the Valley and has been doing business here for over 40 years.   Brighton has a lot of credibility and has been through the highs and lows of the real estate market.

The guarantee program is for thirteen Brighton home models, ranging in size from 1,350 square feet to 2,460 square feet.  Several of these models are currently priced under $200,000. Eligible communities include: Paramount,

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Did you know references to homes square footage are actually just estimates? A homes square footage, one of the most basic principles of a homes value, can easily be miscalculated if not done by a professional. Even then, the measurement is still subject to human error. As a Realtor, I see it often and can tell you these discrepancies can significantly affect a homes value.

Why are there discrepancies on square footage measurements?

1) The question of what to include: While appraisers will use the ANSI standard (see below), others may include areas that should not be calculated. For example, a basement with low ceilings, an attic with sloping ceilings, pop out windows, etc. If you are purchasing a home, be sure to ask about the square footage

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I find it interesting to look at how much homes sell for vs. their asking price.  In other words, how much was the buyer able to negotiate.  Below are the sold prices for Boise homes from 8/8/08 to 8/22/08.  There were a total of 111 sales during this time.  Keep in mind that this is a relatively small sample of what going on in the County.

You can see that the homes that had the most negotiation were over 10% off the asking price.  The homes that had sold prices over asking prices were mostly REO/short sale homes that were advertised lower than the bank would ultimately took.  On a rare occasion, homes will sell at their asking price if they are new on the market, already priced below market value, or new construction.  Most often though, if a home

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The Boise MLS has 9 homes being offered as a short sale in North Boise (as of 8/18/2008).   To get the full listing data please input the mls # in the Boise MLS Search.

MLS # Status Ask Price Apx SqFt # Beds # Baths Year Built # Acres
98357131 Active $139,900 960 2 1 1946 0.14
98360394 Active $149,900 1609 2 1 1920 0.18
98357122 Active $169,000 1060 2 1 1931 0.13
98370817 Active $232,000 1421 3 2.5 2008 0.14
98370898 Active $235,000 1421 3 2.5 2008 0.14
98343269 Active $237,500 1914 4 2 1995 0.1
98367411 Active $264,777 2000 4 3
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Click here to check for the most current home sale statistics.

According to the Boise MLS  (Intermountain MLS), July posted 494 home sales in Ada County- down 24%.  This is actually one of the smaller declines we've seen over the last year and a half as most months have posted 30% to 40% declines.

Inventory levels also were down from year ago, the first year-over-year decline in 28 months.  Some think this could be a sign of the bottom of the housing market.  While this is a positive sign, the decline in the number of homes for sale is likely not because of homes selling but homes coming off the market to be rented, etc.  They are homes that will be for sale again when the market begins to improve or next spring.

Overall Home Sales

Total

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The recent housing bill that passed has provisions to help first time home buyers.  If you purchase a home between April 9, 2008 and July 1, 2009 you may qualify for a $7500 federal tax credit or 10% of the purchase price, which ever is less.  Not a deduction but a tax credit.  So even if you only owe $3000 you will receive a $4500 refund.  But before you get too excited, it does have to be repaid over a 15 year period.  So really its an interest free loan.  To qualify for the full tax credit you must earn under $75,000 if you are single or $150,000 married and file jointly.

UPDATE: 2/21/09 READ THIS ABOUT THE 2009 CHANGE

For more information on this housing bill you can read this article by U.S. Department of Housing & Urban Development (HUD).

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Are you looking for short sales in Eagle, Idaho?  As of 7/25/08 the following is a list of homes in Eagle being offered as a possible short sale.  If you want to learn more about short sales, read this short sale article.  If you would like to see these homes you can request showings.  To find more detail on these properties just enter the mls # on my Boise MLS search.

MLS # Asking Price Apx SqFt # Beds # Baths Year Built # Acres Subdivision
98355336 $175,000 1778 4 2 1996 4.89 Hanley D L Trac
98366432 $195,000 1568 3 2 1980 0.31 Eagle Village S
98367418 $199,777 1545 3 2 1959 0.4 0 Not Applic.
98346246 $215,000 1818 3
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Ada County single family home statistics for Q2 '08.

Market summary

Home sales improved in the second quarter but are still down when comparing to the same time period a year ago. There are still a large number of homes for sale, distressed properties coming on the market, and an overall nervousness about the economy that is negatively affecting home sales.

Sales continued to improve in Q2 ‘08

Both existing and new construction home sales continued to improve over Q2 (Fig 1).

Comparing Q2 '08 to Q2 ‘07

The real estate market experiences seasonal changes in both the number of homes for sale and the number being sold. As a result, it is helpful to compare numbers year-over-year. Figure two shows that overall sales were down about 30

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North Face, the outdoor gear maker, will be locating a new retail store in Downtown Boise.  The outlet should be open by thanksgiving and will be located in the historic Mode Building at 8th and Idaho.  North Face, with only 21 stores nationally, will be a welcomed addition to Downtown Boise.  The retailer joins other Mode Building tenants: Anthropologie, Chico's, See Jane Run, and Grape Escape.

802 West Idaho Street Boise, ID 83703 (208) 331-9790 Check out the North Face Web Site

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The following Boise Idaho real estate statistics are for all Ada County single family homes during June 2008.

Home sales in June continued to increase although in comparison to the same time period a year ago sales were down about 26%.  There were a total of 531 homes sold in Ada County and just under 5100 for sale. 

Overall Home Sale Statistics

Total active listings: 5098

Total sold homes: 531 (-26.35% to June 2007)

Median home price: $209,900 (-11% to June 2007)

Average home price: $254,900 (-9.02% to June 2007)

Existing Home Sale Statistics

Total active listings: 3928

Total sold homes: 395 (-25.89% to June 2007)

Median home price: $209,900 (-6.50% to June 2007)

Average home price: $256,759 (-5.07% to June 2007)

New

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