by Phil Hoover, Real Estate Broker

Boise Homes With Basements

I posted about the difficulty or finding a Boise area home with a basement on March 11th.

Here’s more information about Boise homes with basements.

Available Boise Homes With Basements

  • Total # Available: 224 (only 10.1% of all available listings)
  • Average Asking Price: $486,424
  • Median Asking Price: $343,400

Closed Sales – Boise Homes With Basements (past 12 months)

  • # Sold: 751
  • Average Sales Price: $303,610
  • Median Sales Price: $263,000

Looking for a Boise, Meridian, or Eagle home with a basement?

They’re scarce, but I know where they are!

Give me a call at (208)938-5533, or e-mail me for details!

 

April 2nd, 2014 Posted in Inside Real Estate | Print This Post Print This Post | No Comments »

Boise Real Estate: Our Vanishing Short Sales

In yesterday’s post, I described how REO sales have declined in the Boise real estate market over the past few years.

Here’s a similar breakdown of the past five years’ short sales:

2009 Boise Home Sales

  • Total Closed Sales: 5,769
  • Total Closed Short Sales: 856
  • % REO Sales: 14.8%

2010 Boise Home Sales

  • Total Closed Sales: 6,263
  • Total Closed Short Sales: 1,068
  • % Short Sales: 17.1%

2011 Boise Home Sales

  • Total Closed Sales: 6,535
  • Total Closed Short Sales: 1,221
  • % Short Sales: 18.7%

2012 Boise Homes Sales

  • Total Closed Sales: 7,130
  • Total Closed Short Sales: 1,244
  • % Short Sales: 17.5%

2013 Boise Home Sales

  • Total Closed Sales: 8,142
  • Total Closed Short Sales: 611
  • % Short Sales: 7.5%

Data pertains to Ada County single-family homes on lot or acreage.

Data does not include condo or townhome properties.

 

April 1st, 2014 Posted in Boise Market Stats | Print This Post Print This Post | No Comments »

Boise Real Estate: Our Vanishing REO Sales

The Boise real estate market has staged a remarkable recovery over the past five years.

As expected, REO sales have declined dramatically as our market has recovered.

Here’s a look back at the past five years’ REO sales:

2009 Boise Home Sales

  • Total Closed Sales: 5,769
  • Total Closed REO Sales: 1,211
  • % REO Sales: 21.0%

2010 Boise Home Sales

  • Total Closed Sales: 6,263
  • Total Closed REO Sales: 1,899
  • % REO Sales: 30.3%

2011 Boise Home Sales

  • Total Closed Sales: 6,535
  • Total Closed REO Sales: 1,850
  • % REO Sales: 28.3%

2012 Boise Homes Sales

  • Total Closed Sales: 7,130
  • Total Closed REO Sales: 714
  • % REO Sales: 10.0%

2013 Boise Home Sales

  • Total Closed Sales: 8,142
  • Total Closed REO Sales: 343
  • % REO Sales: 4.2%

Data pertains to Ada County single-family homes on lot or acreage.

Data does not include condo or townhome properties.

 

March 31st, 2014 Posted in Boise Market Stats | Print This Post Print This Post | No Comments »

Thought of the Week – March 29, 2014

 

Dear Pessimist and Realist:

While you guys were debating how much water was in the glass, I drank it!

Sincerely yours,

The Opportunist :)

 

March 29th, 2014 Posted in Thought of the Week | Print This Post Print This Post | No Comments »

Boise Homes: Insuring A Vacant Home

I’ve had a couple of recent experiences that illustrate the difficulties of insuring vacant homes.

One situation involves a home that was vacated last August when the owners went into a nursing home.

Over the winter, an overflowing upstairs toilet caused nearly $40,000 of damage to floors, walls, and cabinetry.

The insurance company is cancelling the homeowners’ policy because it’s vacant and the only company willing to insure the property now will be charging $2,500/quarter while requiring all contents to be removed from the property.

That’s $10,000/year to insure a home that would normally cost around $800/year to insure.

In another situation, I represent a buyer who’s buying a 2nd home in the Boise area.

When I referred that client to the insurance agent I usually recommend, the quote was $950/year, along with a requirement to have a property manager oversee the property when the owners aren’t here.

That client was able to find another insurance company that provided coverage for $650/year with no strings attached.

Insurance companies have become wary about insuring vacant properties over the past few years.

Many are reluctant or unwilling to provide coverage unless the property is owner-occupied.

 

March 28th, 2014 Posted in Inside Real Estate | Print This Post Print This Post | No Comments »
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