Attention Buyers and Sellers! The market is still going strong, and steadily climbing upwards. The very good news is that the reasons the prices are going up are legitimate ones, like consumer demand, lack of inventory and the higher prices of new construction. That shelters us from a strong downward spiral correction in the future, since the higher prices aren’t driven by speculation as it was the case 10 years ago.

Some June stats: the median sales price in Ada County grew by 8.7% over last year, and by 12.4% in Canyon County. The average time the properties spend on the market is lower as well, by 13.2% in Ada County and by 9.4% in Canyon County. Homes are selling quickly, and that means less time for the sellers to have the inconvenience of buyers coming through and keep the property in showing-room condition all the time. It’s exhausting

All this is good news for sellers, as we are in a strong seller’s market, that doesn’t show any signs of changing soon, and good information for the buyers to keep in mind: if you are serious about a property, don’t wait, don’t think you will have a few days to think about it, because you won’t, it will go before you know it! Also, make your stronger offer from the beginning, even if it’s not at the asking price, and document that offer to the best of your and your agent’s ability. Make sure that your have the funds available, and present that proof to the seller with your offer, if you are making a cash offer, or that you are pre-qualified if you are getting a mortgage. The more proof of your solidity as a buyer you can offer, and the better you make the offer look, the better your chance to getting the house of your dreams. Good luck to all the buyers out there, and if Ava or I can help in any way, don’t hesitate to contact us.

 

Cristina Pescaru Boise RealtorContact Boise Realtor, Cristina Pescaru, to find your Boise, Idaho home.

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