The effects of low inventory on Buyers

As we go into the time of year when the weather changes and thoughts turn to other things other than the cold and snow, we face new opportunities and endeavors. For the last three or four years,

the nation has been enjoying the joys of low-interest rates and a relatively healthy real estate market. The market allowed for home buyers and owners the ability to buy and sell with great mortgage rates and excellent home prices.

From the start of 2017, the market began to take a path that those in the know didn’t really see coming. Suddenly the selling of resale homes started to decline.  What caused the turnaround and why did it progress especially since the buying population of clients did not seem to dissipate.

Suddenly many of the buyer clients finally had the money and the ability to take on a mortgage, but then there were less and fewer homes being placed on the market. This market trend has continued and even deepened in the first quarter of 2018!

When trying to locate properties for clients most Realtors are coming to the same outcome over and over.  The problem of low inventory of listed homes presents a problem for some home buyers and especially first time home buyers that interest rates are also creeping up.

Being in the real estate business for some time, I know that the market has its swings up and down and back and forth.  This time there is no clear reason for the changes and ebbs and tides.  What we do know is that some of those first-time buyers and even some of those that have bought long before could have problems with the rise of home prices and increase in interest rates.

 What can a client do? Contact your real estate professional and make a buying plan.  Knowing what you can purchase is the first step. Those thinking of selling need to speed up their program to market homes. Don’t sit on the sidelines now if you are seriously thinking of making a move. 

2018 Boise and Treasure Valley Relocation Guide

Download here

Download my latest Relocation Guide for all the Treasure Valley!

https://movetoboise.realty

Area flooding damaging the Boise River banks!

Boise and Ada county officials are taking steps to prevent further damage from the flooding that has been on everyone's mind lately.

KTVB

Monday the Ada County commissioners have requested the removal of the footbridge located in Garden City near the Northeast corner of the fairgrounds. Fears of the bridge tearing loose and being swept downstream in the Boise river.

The bridge will be moved to the fairgrounds until it can be replaced.  The river is to remain swift and high for at least the next 6 weeks according to KTVB.

Current Real estate market Snapshot Statistics for February 2017

Current home sale snapshot statistics for February 2017

Ada County

Canyon County

Explore Northwest Boise

Living in Boise has a great many advantages to take to heart.  Deciding where you want to settle usually is readily apparent when you take any time to drive around and visualize everything and place that makes up Boise City. 

In this post we are going to speak to Northwest Boise.  Northwest Boise is located nestled against the foothills to the north and south to Garden City and State Street. To the west a general boundary is Hwy 55 (Horseshoe Bend Road) and east to Collister Street and the north end.  Depending your location there are two high schools to attend.  Capital High to the West and Boise High to the east. 

Some call Northwest Boise the bedroom area of the north end as there are some historic areas to live.  Driving the winding road known as hill road, you will encounter many bicyclists training and pleasure riding.  This are is very popular to the cycling community.  As you travel to the west and meet old horseshoe bend road you can take a tour through the Idaho State Veterans cemetery which is one of the most beautiful in the US. The Boise parks and rec have one of the largest sports complexes located at the intersection of hill road and Hwy 55.  This is also an off leash dog park.

Driving up Pierce Park road there is a 9 hole golf course named Pierce Park Greens. Biking and walking the Boise Foothills can be accessed from several points along the way.  Included in the mix would be the town of Hidden Springs which has a mix of close family living and walking neighborhoods.

Northwest Boise is a mix of active living and close shopping services.      

post

Moving Boise Into 2015

Living in a city that has been going through massive expansion in the past 24 months makes you realize that you are no longer in the small town with small town services and infrastructure.  Boise is one of those mid urban towns that is made up of all aspects that cities much larger enjoy without the big city problems.

Boise’s downtown area has undergone Development that is headed in the right direction.  As we wait for that “big Potato drop” this New Year’s eve, we are reminded that our downtown core is just beginning to take shape.  

Relocating business downtown seems to be the goal of most corporate businesses such as banks and hometown favorites such as the new “JUMP” building or Jacks Urban Meeting Place.  This is being built by the Simplot Company which will also have corporate offices located nearby.  There is now a mix of Business corporate and residential spaces. Being an urban resident in the midst of the heart of Boise business is shown with the many new Condo units located in the blend.

New expansion of the convention center “Boise Centre on the Grove” or now known as the “Grove” will increase from its 50,000 square feet to double the size of 100,000. This would allow Boise to promote larger events and bring in more of the groups from outside of the state.

Next up for Boise downtown is a multimodal transit station or “Main Street Station” which will very much make travel into and out of the downtown core much easier.  This will be a three story building area that will house all forms of transportation with services and a new Boise Police substation.

The year will be busy and will probably incorporate more of the professionals needing to relocate and move families to fill the new beginnings of the city center companies and metropolitan lifestyle.