Boise Idaho Real Estate

Boise real estate sales in 2012 are up from the year before, making it the 4th consecutive year of increasing transactions.  The average number of homes sold on the Boise MLS each month this past year was 323.2, and the total for 2012 was 3878.  This represents a 26% increase over 2009, and an 8% increase over 2011.  The increasing market demand has been realized in most places in Idaho, and especially Ada County.

Boise Real Estate Sales 2009-2012

For the month of December, Charter Pointe subdivision had the most homes sold in a single subdivision with 6.  In fact, they have been one of the more popular subdivisions in the Boise real estate market all year.  Attracting much of the attention to the neighborhood was that of the 96 sales in 2012, 43 were foreclosure sales (44.8%). 

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4505 W Cassia Boise, Idaho 83705

Status: SOLD

Curtis Sub

3bd/1ba + RV Parking and/or Room to Build A Shop*

Here's a great new listing in a prime location on the Boise Bench.  This 3bd/1ba home is 1128 sq/ft, and just across from Cassia Park!  Hardwood floors are throughout with a large kitchen, newer windows, and brand new roof!  For those of you needing room for R.V. parking, or potential room to build a shop, this lot has tons of space... check out the aerial photo.

The Boise Bench is a desirable area just to the south of Downtown Boise.  From this location on Cassia, you're only about a 1.5 miles to the 153 acre Anne Morrison Park, and about 3 miles to Downtown Boise.

*Buyer to verify all information.  No guarantee or warranty is made. 

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The median price of homes has gone up in the Meridian Idaho real estate market, especially when compared to one year ago.  For instance, the median price during the month of November was $185,000.  During Nov. 2011 the median price was $157,590--nearly $30,000 less than this year.  What's more, this year the median price for real estate in Meridian Idaho has been climbing since January.  In comparison, in 2011 the median price was relatively steady throughout the year.  The chart below also shows that 10 out of 11 months this year have outperformed the same months from one year ago.

Meridian Idaho Median Sold Price 2011 vs. 2012

Likewise, most months this year also had more home sales in the Meridian Idaho real estate market compared to last year.  And even though 4 months underperformed

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Boise foreclosures continued to drop off even more since November numbers came out.  The foreclosure market share was 24.7% for the month of November, slightly smaller than the 25.4% posted the month before.  Overall, there's been a big drop in foreclosures this year.  Especially when you look at January, when Boise foreclosures were at 59.2%.  Those numbers have declined considerably over the year, even reaching 20.5% in August.  In 2011 there was not as a significant decline in foreclosures, with the range being 40.6%-55.6%.

Boise Foreclosures 2011 vs. 2012

Boise bank-owned homes have fallen over the year, while short sales have stayed fairly consistent. In fact, November posted the second lowest number of sales for bank-owned properties in a given month (28).  This is a 47%

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Over the year Boise bank-owned homes have dropped rather significantly, especially when compared to Q1 numbers.  During the first three months of the year the average amount of sales for bank-owned homes in Boise was 74.  Numbers for this type of distressed dropped by a large margin for Q2 and Q3, 44 and 26.3 respectively.  The chart below shows the exact amount of Boise bank-foreclosures sold each month this year.  November 2012 numbers are similar to the Q3 average.

Boise Idaho Bank-Owned Homes 2011 vs. 2012

The chart also points out 2011 numbers.  Clearly, Boise bank-owned homes have dropped off significantly when compared to one year ago.  Since April, in comparison to 2011, there's been more than a 50% drop in 2012 numbers.  More closely, the average amount of REO sales (through

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Boise ID real estate sales remain strong as we near the end of the year. In fact, this year's total has already surpassed last year in sales. With one month of data left to collect, the total for 2012 so far is 3,612. Home sales for 2011 were just under that, at 3,588. Still, the margin will be wider once December numbers are gathered. The chart below shows the total sales each year since 2009. Sales for the Boise ID real estate market have consistently surpassed the previous year.

Boise ID Real Estate Sales 2009 - 2012

There were 316 Boise real estate sales this past November. And although numbers dipped a bit from October (342), a few areas in the Boise ID real estate market saw sales climb. SE Boise and the W. Boise-Garden City area posted higher numbers in November than Oct., 44 and

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Foreclosures have dropped once again in the Eagle Idaho real estate market.  October 2012 posted the second lowest numbers we've seen all year at 9.6%.  As you can see in the graph below, the numbers for foreclosures in Eagle are varied this year, anywhere from 8.8% to 46.4%.  However, they have consistently stayed under 20% since April and they've steered clear of last year's numbers.  The only month this year where Eagle Idaho real estate saw lower foreclosure numbers than October was July (8.8%).

Eagle Foreclosure Rate 2011 vs. 2012

Short sales are the predominant type of foreclosure sale in Eagle.  So far this year, there have been 50 short sales in Eagle ID compared to 23 bank-owned homes.  Banbury Meadows and Brookwood subdivisions have had the highest number of short sales thus

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HUD Homes are homes owned by the U.S. Government.  "HUD"stands for the U.S. Department of Housing & Urban Development.

How Do Homes Become Owned By HUD?

When a person buys a home using an FHA loan (Federal Housing Administration), FHA guarantees the loan against default for the lender (e.g. BofA, Wells Fargo, etc.).  If the homeowner defaults on the FHA backed loan and goes through foreclosure, FHA pays off the lender and HUD is given title to the property.


Who Can Buy HUD Homes?

Both owner-occupants and investors can purchase HUD Homes (as well as governmental agencies & non-profits).  Typically, HUD will review owner-occupant offers after a period of 10 days on the open market.  Investors offers are typically not considered for the first 30…
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New home sales are on the rise in the Boise real estate market.  In fact, according to the chart below, almost every month this year has outperformed the previous two years.  There's only one exception; June 2010 posted 69 new home sales.  The fall of 2012 has seen approximately double the sales from a year ago and in some cases more than triple from 3 years ago.

New Real Estate Sales in Boise Year over Year

One reason that new home sales in Boise may be seeing a big increase is the fact that there are fewer foreclosures in Boise available. In fact, 2012 has also posted some of the lowest foreclosure numbers we've seen in the Boise real estate market in recent years.  The graph below shows the trend for  foreclosure sales in 2012 has been consistently down.  While January was at 59.2%, October

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Median home prices continue to rise in the Meridian real estate market.  The median price in October was $185,910, almost $27,000 more than the same time last year.  In fact, nearly every month this year has outperformed the last couple of years, showing a strong trend for real estate in Meridian ID.

Meridian Median Home Prices 2010-2012

The Meridian real estate market is also showing a growing trend in the number of non-foreclosures vs. foreclosures being sold.  For example, of the 167 home sales in October, 133 were non-foreclosures.  That's nearly 80% being non-foreclosures.  As you can see in the graph below, that trend holds true for every month this year, except for January where the numbers were the same.

Meridian Non-Foreclosures 2011 vs. 2012

Now, we'll take a look at the foreclosure market share for Meridian

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