Boise Real Estate Blog

Meridian, Idaho Real Estate Stats For February 2009

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

Available Homes
# Available: 1,111
# Vacant: 657
Vacant Percent: 59.1%
Average Asking Price: $252,592
Median Asking Price: $219,900

Pending Sales
# Pending: 191
Average Asking Price: $209,051
Median Asking Price: $189,000

Closed Sales – February 2008
# Closed: 105
Average Sales Price: $248,310
Median Sales Price: $220,000

Closed Sales – February 2009
# Closed: 81
% Change: -22.9%

Average Sales Price: $203,960
% Change: -17.9%

Median Sales Price: $184,200
% Change: -16.3%

Data taken from Intermountain MLS on 3/5/09 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

March 6th, 2009 Posted in Meridian Market Stats |

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Eagle, Idaho Real Estate Stats For February 2009

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

Available Homes
# Available: 459
# Vacant: 195
Vacant Percent: 42.5%
Average Asking Price: $597,366
Median Asking Price: $487,450

Pending Sales
# Pending: 53
Average Asking Price: $393,684
Median Asking Price: $300,000

Closed Sales – February 2008
# Closed: 31
Average Sales Price: $495,917
Median Sales Price: $440,000

Closed Sales – February 2009
# Closed: 19
% Change: -38.7%

Average Sales Price: $407,505
% Change: -17.8%

Median Sales Price: $398,000
% Change: -9.6%

Data taken from Intermountain MLS on 3/5/09 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

March 6th, 2009 Posted in Eagle Market Stats |

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Boise Real Estate's Referral Agents

As the Boise real estate market slows, many agents are dropping their real estate licenses or going inactive.

Some, though, are hanging on and moving to companies who allow them to be “referral agents”.

What is a “referral agent”?

It’s an agent who is not actively practicing real estate as a full-time professional, but rather referring friends and relatives to another agent in their office.

In return, they receive a referral fee from the agent who actually works with the client.

That referral fee is usually 20-30% of the commission the agent receives at closing, and is often not disclosed on the closing statement because the broker pays the referring agent outside of escrow.

This is perfectly legal, but I think the public would be better served by full-time professionals instead of agents who are working on the fringes of real estate.

February 28th, 2009 Posted in Inside Real Estate |

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Eagle-Star Technology Corridor

Lloyd Mahaffey is at it again.

The former Apple Computer exec, now turned developer, has assembled a group of forward-thinking local business people and formed EsTech.

EsTech intends to lure technology companies to the newly-designated Eagle-Star Technology Corridor located West of Eagle.

EsTech is the only Boise area group that is focusing on bringing both large and small technology companies to the area and hopes to attract companies who want to locate near other technology companies.

Mahaffey plans to “fish where the fish are” and will be talking with California companies about moving their businesses to Idaho.

The Boise area is rich with HP and Micron employees who have been furloughed in the past year or so and do not want to leave the quality of life they enjoy in the Treasure Valley.

For more information, visit www.EsTech.org and read a recent article in The Idaho Statesman.

February 20th, 2009 Posted in About Eagle, ID |

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Why Some Boise Real Estate Agents Are Getting Skinnier

I have noticed that some of our local real estate agents are, well . . . getting skinnier!

That could be due to healthier lifestyles, but it might also have something to do with our slower Boise real estate market.

At the end of 2008, we had about 3,300 agents in MLS.

Here’s a look at their closed sales during 2008:

Only 1,659 agents closed at least 1 transaction
(that means that HALF of all agents sold nothing).
Only 780 agents closed more than 5 transactions.
Only 295 agents closed more than 10 transactions.
Only 44 agents closed more than 25 transactions.

February 19th, 2009 Posted in Inside Real Estate |

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