FURTHER EVIDENCE OF RISING REAL ESTATE PRICES IN BOISE

4 05 2012

A4 – Ada County Sold Units

A6 – Dollar Volume Year to Date

It is pretty obvious when you compare these two numbers:

Ada County sold units January – April 2012 10% higher than 2011.
Ada County Dollar Volume for the same period 19% higher than 2011.





ADA COUNTY REAL ESTATE NEWS IS ALL GOOD IN FEBRUARY!

7 03 2012

Sales are up!  Pendings are up!  Dollar Volume is up!  Median pricing is up!  Future Business Forecast is up!  Inventories are down!  Distressed sales are down!

Almost anyway that you look at the February stats, there is a lot to encourage optimism right now in this market.  Buyers are starting to catch on and are moving off the fence.  Investors are beginning to appear again as the news is getting out.

One of the most telling facts is simply this:  At the close of 2011 the National Association of Realtors report showed an 8.1 months supply of resale homes in the United States.  That same calculation for Ada County reveals only a 3.1 months of supply.  That is huge!

You don’t have to have an advanced degree in economics to predict that prices will rise again finally here in 2012.  I believe that 4-6% is very likely for the county.  And some areas such as Eagle will experience an even higher increase.

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Treasure Valley Real Estate Market Shows Steady Progress

7 02 2012

The January 2012 numbers are in and there is a lot to encourage Boise area homeowners!  After hitting a low in 2008, the past three years have shown an increase in the number of homes sold every year.  January continues that pattern with 13% more homes sold than January of 2011.

A3 – Ada County Monthly Sales Units

The dolloar volume was also up 10% from a year ago showing signs that price declines are either over or at least greatly slowing.  Since the resale median price set a new record low in 1/11 this month’s increase of 3% over that is especially significant.

A12 – Ada County EXISTING Monthly MEDIAN Sales Price

A strong case can be made for higher prices based upon demand and inventory levels.  January 2012 continues to reflect record low inventories of unsold homes.  My sense is that has to translate into higher prices – good news that has been a long time in coming!





RECORD LOW REAL ESTATE INVENTORY IN THE TREASURE VALLEY

6 01 2012

For the first time in 70 months home inventory has fallen below the 2,000 level in Ada County.  You have to go back to January of 2006 to find a time when inventory levels were lower than this!  Canyon is the same with the inventory dropping below 900 for the first time since February 2006.

A16 – Ada County Residential INVENTORY

So, what does this mean?  Fewer options for buyers, prices will continue to firm up.  It is now a seller’s market at a very greatly adjusted pricing point.  In general the prices are back to 2002 levels!  But there is only a 3.1 months supply of resale homes currently on the market.  New Construction is a different story.  Builders are pushing ahead as much as they dare with more than a 7 months supply of homes available.





PRICING INCREASES FOR TREASURE VALLEY REAL ESTATE

6 01 2012

The Median price for a resale home in Ada County was 7% higher in December than the January 2011 low point.  That is a sign that the Valley real estate market may have bottomed out several months ago.  Here is a chart that takes a longer term view and plots 6 month blocks of median pricing.

A15 – Ada County EXISTING Last 6 Months MEDIAN Sales Price

The December decrease reflects a seasonal pattern that has repeated itself for the past 6 years.  Once the January 2012 numbers are in we will have an excellent reference point to compare with the previous low in 2011.

 





BOISE HOME PRICE MOVING UP – INVENTORY DOWN

5 12 2011

The median price of a resale home in Ada County was $138,200 in November.  This is up 9% from the low of $126,500 in January 2011.  Even more significant than a single month is the gain being posted using a “6 month rolling median”.  Using this measurement, June 2011 was the low point and there have been solid gains since then.  Check out this chart!

A15 – Ada County EXISTING Last 6 Months MEDIAN Sales Price 

Canyon County is showing a gaudy 17% increase in Median Sales price this month over the low 5/11 of $72,500!

Inventory continues its downward trend at a rate that can only signal additional upward price pressure in coming months.  At this time in 2007 there were 4542 homes on the market for sale.  November of 2011 – 2166.  That is less than half!  Also at this time 397 of the listings shown as “Active” already have short sale contracts on them.  So in reality there are only 1769 homes that are truly “Active” for sale at this moment.  You have to go back to 2000 & 2005 to find an inventory lower at the end of November.   Here is a picture:

A16 – Ada County Residential INVENTORY

What this also signals is a rebirth of new construction coming in 2012.  Smart builders will be careful however to position specs at the right price points.  The lower ones are already flooded.  Believe it or not there is a niche open between 300 and 500 thousand for new construction right now!  Here are two charts that back that up.

AC24 – NOVEMBER 2011 YTD SELLING ODDS New Construction

A45 – Ada County Year to Date SALES & INVENTORY ANALYSIS New Construction –

If you would like more information please call:  Jere Webb, Realtor.  Coldwell Banker Tomlinson Group.  208.861.2222





Boise Magazine Inside Front Cover

30 04 2010

What do you think?  I would appreciate getting some feedback on this. . . . . . beginning with the May issue I have purchased the inside front cover of the Boise Magazine for a year.

Here is my business hunch.  With so many Realtors quitting the business right now, my guess is that there will be a lot of “unattached” potential clients.

We will see. I spent several thousand dollars advertising on Realtor.com a couple of years ago and it turned out to be a bust! :o(

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EXTENDING THE TAX CREDIT FOR EVERYONE!

29 04 2010

EXTENDING THE TAX CREDIT FOR EVERYONE!
Coldwell Banker’s Buyer Bonus Event
Jere Webb

Almost everyone knows that the $8,000 Tax Incentive for “first time” homebuyers as well as the $6500 incentive is set to expire on Friday 4/30/10.

Well here is an innovative marketing plan from Coldwell Banker that is rolling out this weekend nationally.

Short video. Enjoy :o) Play Video





Starting A Fire

8 04 2010

Have you ever tried to get a fire going with damp wood? I have and it wasn’t easy! We were camping and finally resorted to a bit of gasoline. Whoosh! The blaze was instantaneous. However after the gasoline had burned, the wood still hadn’t caught fire.

For the last 8 months the real estate market has been fueled by the tax credit and first time home buyers. Sales are up dramatically from the same month in the prior year. April closings in Ada & Canyon Counties will be strong as well.

Since the contracts only have to be signed by 4/30/10 and close by 6/30/10 it will be interesting to see what happens after the gas burns off.  What is your prediction?

Last week I published the March Statistics for Ada & Canyon County as well as The “Inside Scoop.” This is a very detailed analysis of the local real estate market available to subscribers through my Boise Idaho Realtor website





Hello Idaho Real Estate!

2 04 2010

Thank you for visiting my Eagle Idaho Real Estate blog! It is my hope that through this portal I will be able to share with you the latest news and happenings in the greater Boise Idaho real estate market! Stay tuned to this spot for the most recent developments in home mortgage rates and what’s going on in real estate today! Want to start finding homes in Idaho that fit your needs? Visit my Idaho Realtor Website to search the local MLS for the best homes in Idaho available today! Therein you can learn more about the area, use mortgage calculators, view my available Idaho homes, and more!

I specialize in exceptional residential real estate service and have the skills to guide you through your next real estate transaction with ease. Whether you are looking to buy a new home in Idaho or sell your existing home I am glad to be part of that process – contact me, Jere Webb, for the best Idaho Realtor services online!