Boise Real Estate Blog

Boise Homes For Sale: MLS Area 0200 (NE Boise)

Here’s a breakdown of our current Northeast Boise listing inventory.

• Total  Available: 74
• Average Asking Price: $465,815
• Median asking price: $314,800
• Short Sale Listings Available: 9
• Real Listings Available: 65
• REO Listings Available: 1
• Months’ Supply (all listings): 4.7
• Months’ Supply (real listings): 4.1

Data extracted from Intermountain MLS on 1/29/12.

Data pertains to single-family homes on lot/acreage; data does not include cond0/townhome properties.

Months’ supply is calculated by dividing the past twelve months’ average number of closed sales per month into the available listings.

Real listings are defined as listings that can be purchased and closed in a reasonable time (excludes short sale listings).

January 31st, 2012 Posted in Boise Market Stats |  Print This Post | No Comments »

Boise Homes For Sale: MLS Area 0100 (North Boise)

Here’s a breakdown of our current North Boise listing inventory.

• Total  Available: 114
• Average Asking Price: $412,651
• Median asking price: $294,000
• Short Sale Listings Available: 17
• Real Listings Available: 97
• REO Listings Available: 4
• Months’ Supply (all listings): 4.1
• Months’ Supply (real listings): 3.5

Data extracted from Intermountain MLS on 1/29/12.

Data pertains to single-family homes on lot/acreage; data does not include cond0/townhome properties.

Months’ supply is calculated by dividing the past twelve months’ average number of closed sales per month into the available listings.

Real listings are defined as listings that can be purchased and closed in a reasonable time (excludes short sale listings).

January 30th, 2012 Posted in Boise Market Stats |  Print This Post | No Comments »

Boise Homes For Sale: Listing Inventory Analysis Series

As I have previously posted, I prepare my Ada County Real Estate Market Review of the prior year each January.

This exhaustive 547-line Excel spreadsheet helps me to understand the details of what is happening in the Boise real estate market.

Starting tomorrow, I will be posting details of our current MLS listing inventory, complete with average/median prices, short sale listings, REO listings, and months’ supply ~ broken out by MLS area.

Enjoy!

January 29th, 2012 Posted in Boise Market Stats |  Print This Post | No Comments »

Craigslist Rental Scam Hits Boise

Intermountain MLS has cautioned its members after learning about a Craigslist rental scam that occurred here in Boise.

Information about a home listed for sale in MLS was scraped from a real estate agent’s website and posted on Craigslist as a home for rent.

The ad said the owner was out of the country, wanted to rent the home, and that the keys would be sent upon receipt of the security deposit.

The renter sent their deposit and, unfortunately, the keys were not sent.

Be careful when responding to Craigslist ads about real estate.

January 28th, 2012 Posted in Inside Real Estate |  Print This Post | No Comments »

Obama’s New Refinance Program

In his State of the Union speech, Tuesday evening, President Obama announced a new mortgage refinancing program that would expand the government’s Home Affordable Refinance Plan (HARP).

While short on details, the plan would supposedly allow homeowners to refinance their mortgages at today’s low rates.

This is interesting because the vaunted new HARP 2.0 refinancing program essentially offers the same concept.

Critics have been quick to weigh in on the program, pointing out that it would only apply to borrowers whose loans are NOT guaranteed by FHA, Fannie Mae, or Freddie Mac.

I am left wondering how this would work, given that FHA, Fannie, and Freddie hold the majority of all existing mortgage loans.

The program would be funded by additional “small upfront fees”, charged by the lenders.

Given that there’s no free lunch, those small upfront fees (just how small would they be?) would be passed on to borrowers, which would increase their cost of borrowing, thereby making it more difficult to qualify for refinancing.

But wait,  we could add those small upfront fees to the loan and end up with the borrower even deeper underwater!

Source: DSNews.com article

January 26th, 2012 Posted in Inside Real Estate |  Print This Post | No Comments »