Boise Real Estate Update for January 2014

10 02 2014
2014 New Year Webb Chart Class
Wednesday, February 26 1:30pm at Title One in Meridian  (Lunch served at 1pm – no charge for class or lunch for current subscribers) 
1940 S. Bonito Way (located in the SW Quadrant of Eagle Rd and Overland intersection)
specific things that stand out as I look at the 2013 numbers – Jere Webb
Are there some “early warning signs”?
2013 in perspective – How did we do?  How do our numbers compare with national numbers?
What can we expect in 2014
The Charts – rationale, history & demo – Laurie Burchfield
New Charts: Inventory break out for NC and Resale (by popular demand!) + A&C 61 – 5X Market Pricing Shortcut – I call this “QE1” :o)  Quick and Easy.
Introduction to 8X Pricing and Marketing Plan
Best Practices Warning – Home Inspection pitfalls by special guest, Fred Cornforth
  JANUARY 2014 Inside Scoop – Ada County
If you like to keep score 8vs.11:o(
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in inBold
2.  Pending sales are UP 18% from last month,and are down 12% from a year ago. Chart A47, A48, & A49.
3.  Distressed sales were unchanged this month.  Short Sales were 4% of the total sales this month.  Record high 01/12 23%.  REO sales were 8%.  Record High 12/10 at 40%. That makes 12% of the sales “distressed” this month.  Record high was 12/10 at 61%.  Chart A42
5.  The dollar volume was down 31% from last month and 23% up from this same month last year in dollar volume of sales.  Chart A5
6.  Year to date sales units UP – 10% more units than a year ago Chart A4.  The year to date dollar volume is 23% higher this year.  That spread is tightening indicating a slow down from the big price increases of 2012 and 2013.  Chart A6.  
7.  Median Price up for a home sold this month  – $208,729.  This is 5% up from last month; and a 13% increase from this same month last year!   Chart A10
9.  Resale Median up this month – $189,950.  This is up 4% from last month; and a 12% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.  
18.  Final Sales Discount is down.  From the last asking price to final sales price, 1.3% from 1.8% last month.  Record low – 06/13 .6%.  Last year at this time it was 1.3%.  Chart 43
19.  Future Business Forecast is above 100%.  A54.  131%  – so closings next month should be up from this month’s level.  Last year at this time it was 144%.



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