Real Estate News

There are currently 43 blog entries related to this category.

Boise real estate prices are on the rise.  That's the finding of a study conducted by, an organization that tracks 146 metropolitan real estate markets across the country. studied the listing prices of homes across the country and in a REALTOR Magazine article published May 29, 2012, released the results of that study, naming the top 10 metropolitan markets where listing prices have increased the most from March to April. The Boise real estate market ranked #6 with a 4.4% increase.  Minneapolis-St. Paul, Santa Barbara, Detroit, San Francisco and Seattle came in as the top five, respectively. As can be seen on the graph below, median home sale prices in the Boise real estate market from January through March of this year, while…
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Boise Idaho is a great place in which to raise a family.  In an article published on April 4, 2012, Forbes Magazine named Boise Idaho as the 2nd Best City in which to raise a family.  In making this determination, Forbes looked at the top 100 metropolitan cities in America and ranked them in each of the following seven categories.
  • Median income
  • Overall cost of living
  • Housing affordability (i.e., what percentage of the market is affordable to a family making the median income)
  • Commuting delays
  • Percentage of families owing homes
  • Crime rate
  • Quality of Education (based mainly on test scores)
After comparing the scores for these 100 cities, Boise Idaho ranked 2nd overall, surpassed only by Grand Rapids Michigan.  Of special…
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Boise, Idaho was recently ranked #3 for the best place to retire in the U.S.  The CNNMoney magazine article cites Boise's cultural amenities, safety, and climate as top reasons for relocation to Boise. Boise, Idaho has a lot to offer, you can read more about Boise here.

For people relocating from California, Arizona, and the East Coast people are often amazed at the real estate prices in our area.

But Boise is not just for retirees.  The safety for a city of our size brings many families who are looking for a greater quality of life.  Boise is also a great place for people who want an active lifestyle.  With mountains, lakes, rivers, and several ski resorts in the area there is no shortage of recreational opportunities.

Do you have any

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In case you hadn't heard, interest rates are at a record low today.  A conventional 30 year fixed-rate is as low 4.375% (1)!

Perhaps you recently heard from your Realtor, lender, or the national news that interest rates were going to rise.  Around March it seemed to be one of the top headlines in the real estate industry and it has turned out to be another classic example of why I DON'T put much stock in economic predictions.

Here's just a few I had read:

"Rates are going to be higher than they are now," Jay Brinkmann, chief economist for the Mortgage Bankers Association told

“Mortgage rates are unlikely to go lower than they are now..." Christopher J. Mayer, a professor of finance and economics at Columbia Business School (NY

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There's a new program by the Idaho Housing & Finance Association (IHFA) through its IdaMortgage loan program.  The Affordable Advantage Loan is designed for first-time home-buyers and has the following key features:

- First-time home-buyer

- No private mortgage insurance required

- Owner occupied

- Check the income limits chart for qualifications

- No sales price limits

- Minimum borrower contribution $1000

- Borrower must complete Home-Buyer's Education class

- Up to 100% Loan to Value for home-buyers with credit scores of 680 or higher

- Up to 97% Loan to Value for home-buyers with credit scores of 660 or higher You can contact a local IHFA Lender here to determine your eligibility.

The  above information is not guaranteed

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The 2010 Ada County assessments were mailed out yesterday.  You can also look up assessed value information online.  The Assessed Value is supposed to reflect market value as of January 1 of each year.  According to the Assessor website, values dropped in Ada County anywhere from 2% to 20% last year.  Generally speaking, the more established areas had a smaller decrease.  The median assessed value was 14.29% lower at $159,800.

If you disagree with your assessment you should call the phone number listed on your assessment notice.  If the appraiser doesn't agree with your argument for a lower value you can appeal the assessment with the Ada County Board of Equalization.  The deadline to file the appeal is June 28, 2010.

Information deemed reliable but

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Traditionally, for a lender to consider a short sale, the seller has had to first secure an offer before finding out what the lien holder(s) would approve for a sales price. This way of handling short sales has been extremely inefficient as buyer & sellers have often had to wait 2-6 months for an approval causing many transactions to fail.

In an effort to address this problem the government has launched the Home Affordable Foreclosure Alternatives Program (HAFA).  This program is designed to allow eligible homeowners (the borrower) to work with their lender (the servicer) to determine the required net proceeds prior to putting their house on the market.  It will take some time to see if this program is successfully implemented but if it is it could

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Boise real estate sales surged in March by 43% compared to February with 311 single family homes sold.  This is a 36% increase over last year an 11% increase two years ago.

The median home price in Boise has continued a downward trend (only a reflection of pressure on prices) and in March was $155,000.  The graph below shows the median sale price for the Boise real estate market over the last year.

Boise real estate foreclosures remain the largest negative factor for values. Last month 43% of the property sales were distressed sales.  Here's the foreclosure market share over the last 4 months.

The deadline for the home-buyer tax credit is scheduled to expire April 30, 2010 (unless you have valid contract closing by June 30, 2010).

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Have you filed for your 2010 Idaho Homeowners Exemption?   If you've bought a home in the last year you only have about 2 weeks left... the deadline is April 15!  For 2010, if an Idaho property is your primary residence your taxable value can be reduced by $101,153 or up to 50% of the assessed value (for the home & up to 1 acre of land).

If you already receive this exemption, you do not need to reapply annually. The exemption stays on the property as long as you own and continue to occupy the property.  You can read more about Idaho Property Taxes, the Idaho Homeowner Exemption, download the application, or file online.

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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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