No matter if you are looking to buy a home or sell your current home it is vital to know what is going on in the real estate market. Hennessey Appraisals is a great source for local real estate data and information; I am glad to be able to share their in depth report with you here on my blog. Read their report here.

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With so many homes in the Treasure Valley available on the market today it can be difficult to narrow it down to which one is the right one for you.

Location, Location, Location:
Do you need to be near public transportation? How far of a drive is it to work, groceries, or the kids school? All these things and more are important to consider when looking for that perfect place. Is it important to be near the hustle and bustle, or away from it?

Fixer-upper vs. Move-in ready: Many home buyers are anxious to buy a fixer-upper in order to make their mark on a new property; are confident in their renovating skills or eager to hone them. Another good thing about fixer-uppers is that they can also cost considerably less to a new move in ready home. Unfortunately many times the burden of the move can often overshadow or completely cancel the well intentioned updates that were so much a part of the initial home buying plan. It is important to consider all sides of this situation before you buy to keep from taking on more than you are ready to handle.

Schools: Consider not only the closeness of available schools but also the quality. Everyone knows that the policy and level of service can range widely from school to school. Visiting schools around where your dream home is located is good practice, meet the faculty and find out which school will fit your needs best.

Style: Potato, potahto. Some people like the clean lines and light spaces of a modern design, others enjoy the warm charm of a Victorian home. Look through magazines and websites, read up on architcture and decide what style of home might best fit your taste.

Good Neighbors good fences: Be sure and consider the neighborhood you will be calling home, as well as those living around you. The last thing you want is to find that perfect home and find out months later that the homeowners association is run like a third world dictatorship and you’ll be fined $300 every time you forget to bring in the newspaper. If you get the chance while visiting your potential new home take a minute to talk with the next door neighbors if they are out and about, or at the very least make sure you’ve got a decent fence.

Old vs. New: Older homes can be full of charm and character, unfortunately they can also require a lot of heft maintenance and updates. While new homes are by no means maintenance free they can come with warranties from builders and are less likely to have any issues with staying up to current code.

Don’t be disappointed if you don’t get all of the items on your wish list. Having a solid idea of what you want in a home written out will help guide you in the right direction during the search for your dream home. The best place to start is by working with a qualified Treasure Valley REALTOR.

It doesn’t take years in the real estate business to see that home prices aren’t what they were even just a few years ago. The latest statistics show Idaho leading a national decline in statewide home prices at a rate of over 15% between this year and last, with the Treasure Valley itself actually being about 5% less.

The Ada County Association of REALTORS says that while that is still a large decline there are some things that despite those figures could be an indication of a stablizing market.

Right now Ada County has the lowest inventory of homes since 2005 and a larger population – this degree of low supply, high demand has helped to stimulate sales; many valley agents are seeing a small increase in property movement.

What’s keeping the inventory low and the demand high? It could be investors. According to Mike Turner, a Treasure Valley Real Estate Investment specialist, more and more investors are coming to the Treasure Valley for it’s prime real estate deals.

“They’re buying up the bottom. Even here in the Treasure Valley, over 50 percent of all foreclosures are priced below $120,000,” said Turner.

On the opposite side of the coin however this same low inventory high demand sweet spot could be good news for those still looking to sell their homes in Idaho. With the number of available properties decreasing it is only a matter of time before the price for those remaining properties values will increase.

These real estate statistics are presented by Hennessy Appraisals – click the links below to visit their site and see the latest real estate stats that impact you!

TOP GRAPHS

INVENTORY

DISTRESS SALE DATA

Courtesy of http://www.hennesseyappraisals.com/

Are you looking for the perfect home for sale in Boise? Maybe you are interested in living in Eagle or Star to get a little further out from the hustle and bustle of the city. No matter what kind of property you are looking for in the Treasure Valley I can help you make your next move the right one! Contact me today to see how I can put my passion for real estate to work for you!

I’m just getting things started here so bear with me and check back soon for the latest Idaho real estate news and listings! In the meantime you can visit my main Treasure Valley Property website to find homes for sale in Boise, Eagle, Meridian and more!

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