Boise Real Estate Blog

Boise Real Estate Market Observations

Here are my random musings that (kinda?) tie in with the previous three posts on Boise, Meridian, and Eagle market stats:

It’s encouraging to note the positive increase of sales in all categories!
It’s positive to note the lower rates of price declines in all categories. It wasn’t that long ago when those numbers were hovering in the 20-30% range.
It will be fascinating to see what happens to our market when the $8,000 First Time Homebuyer Tax Credit expires. Buyers must be “under contract” by April 30^th and close by June 30^th to get the credit.
The upfront FHA mortgage insurance premium will rise from 1.75% to 2.25% on April 5^th. This will result in an extra $1,000 of buyer closing costs on a $200,000 loan.
It’s positive to see sticks (new homes) starting to go up throughout the Treasure Valley!
It’s positive to see people buying homes for the right reason (to live in them!) instead of speculating on them and using them as their personal ATM.
63.9% of all 2010 year-to-date Ada County closed residential sales have been below $200,000.
1.33692% of all 2010 year-to-date Ada County sales occurred between 10:14.56 a.m. and 1:33.21 p.m. on cloudy Thursdays. (I just made that up to see if you’re really paying attention!)

March 7th, 2010 Posted in Around Boise |

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Boise, Idaho Real Estate Stats – March 2010

Here’s a snapshot of February’s real estate activity for Boise, Idaho (Ada County):

Available Homes
# Available: 3,684
# Vacant: 1,905
Vacant Percent: 51.7%
Average Asking Price: $240,280
Median Asking Price: $174,900

Pending Sales
# Pending: 877
Average Asking Price: $203,269
Median Asking Price: $164,534

Closed Sales – February 2009
# Closed: 290
Average Sales Price: $209,422
Median Sales Price: $181,625

Closed Sales – February 2010
# Closed: 365
% Change: +25.9%

Average Sales Price: $197,431
% Change: -5.7%

Median Sales Price: $165,000
% Change: -9.2%

Data taken from Intermountain MLS on3/5/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

March 6th, 2010 Posted in Boise Market Stats |

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Meridian, Idaho Real Estate Stats – March 2010

Here’s a snapshot of February’s real estate activity for Meridian, Idaho:

Available Homes
# Available: 1,000
# Vacant: 575
Vacant Percent: 57.5%
Average Asking Price: $198,957
Median Asking Price: $174,900

Pending Sales
# Pending: 250
Average Asking Price: $188,249
Median Asking Price: $169,000

Closed Sales – February 2009
# Closed: 82
Average Sales Price: $203,049
Median Sales Price: $183,400

Closed Sales – February 2010
# Closed: 108
% Change: +31.7%

Average Sales Price: $185,052
% Change: -8.9%

Median Sales Price: $160,744
% Change: -12.4%

Data taken from Intermountain MLS on 3/5/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

March 6th, 2010 Posted in Meridian Market Stats |

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Eagle, Idaho Real Estate Stats – March 2010

Here’s a snapshot of February’s real estate activity for Eagle, Idaho:

Available Homes
# Available: 330
# Vacant: 120
Vacant Percent: 36.4%
Average Asking Price: $459,420
Median Asking Price: $350,000

Pending Sales
# Pending: 77
Average Asking Price: $366,665
Median Asking Price: $335,000

Closed Sales – February 2009
# Closed: 19
Average Sales Price: $407,505
Median Sales Price: $398,000

Closed Sales – February 2010
# Closed: 29
% Change: +52.6%

Average Sales Price: $380,523
% Change: -6.6%

Median Sales Price: $365,000
% Change: -8.3%%

Data taken from Intermountain MLS on 3/5/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

March 6th, 2010 Posted in Eagle Market Stats |

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The End of Interest-Only Loans?

Freddie Mac has announced that it will no longer purchase or securitize interest-only loans, effective September 1, 2010.

Freddie Mac stated “Our purchases of these mortgages and issuances of guarantees of them, expose us to greater credit risks than do other types of mortgages.”

Freddie Mac posted a $7.8 billion (yes, that was a “B”, Martha!) loss for the 4th quarter of 2009 and a $25.7 billion (hmmmm . . . this is soon gonna add up to real money here!) loss for the entire year.

Freddie Mac’s interest-only and “Alt A” loans accounted for 44% of Freddie Mac’s credit losses in 2009.

Gee, mebbe they shudda done this sooner???

Source: DSNews.com

March 3rd, 2010 Posted in Inside Real Estate |

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