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 30th and close by June 30th to get the credit.
- The upfront FHA mortgage insurance premium will rise from 1.75% to 2.25% on April 5th. 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!)
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