By Cristina Pescaru, CSP
Real Estate Consultant
Boise, Idaho

Boise Real Estate House for Sale - SoldI am referring to the fact that for the last couple of years I have been trying to convince people to purchase when they found something they liked, and not wait for the better deal. Now, nationwide, people are starting to realize that the much vaunted “buyer’s market” is not quite as friendly to buyers as they thought. Don’t take my word for it: Realtor.com reports that inventory is at its lowest point in four years. 

And the reasons are:

  • Sellers who can afford to ride out this slow, unfavorable market are doing so.
  • Foreclosed properties are not hitting the market in the great numbers people anticipated, not only because the process is a slow one, but also because banks may be a little reluctant to unleash a great number of foreclosures on the market at the same time, afraid of what that would do to property values.

Boise Housing Market

From my recent work experience with buyers here in the valley I can tell you that nice, affordable homes are few and far between, and competition is great for them. They last only a few days on the market, especially if they are regular sales, and sometimes they command more than the asking price. The housing market is behaving a little contradictory: on the one hand, you see properties selling as in 2004-2006, and on the other the values are down, foreclosed properties linger on the market, and short sales are not moving much faster than they used to.

Boise Home Buyers

Buyers, if you find a house you like, and the financing is in place, move quickly. Waiting for that fantastic bargain is just going to prove the truth of the saying about the bird in the hand vs. the one on the fence. Of course, that doesn’t mean you and your agent should not research the property, the price and comparative values, so that you make the best and fairest offer.

Good hunting all! And, don’t forget: we are here to help.

Tagged with:

Filed under: Boise Real EstateHome Buyer/Seller Tidbits

Like this post? Subscribe to my RSS feed and get loads more!