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Specifically in Starr and Meridian? Will be moving from the east coast to Boise area and so much cheap housing makes me nervous about the local economy. What gives?
Specifically in Starr and Meridian? Will be moving from the east coast to Boise area and so much cheap housing makes me nervous about the local economy. What gives?
Methinks you haven't done much research into this move.
Boisefan...why are you always saying negative comments to anyone who doesn't meet your approval for moving to Boise? It is hard to "research" from the east coast and that is why they are asking qustions here...you need to stop please....or even better, why are doing this? You are not helping anyone by your comments....
Also, Dr. Bombadil....to maybe shed a tad bit of light on your question...the economy isn't that great in and around Boise....I believe it is trying to recover....but thru my 2 years of research in Boise....there are jobs in Boise but most are low paying....not sure your profession or if you are a true doctor....but if you have a job lined up and going to Boise with some money...you can get a pretty good deal on housing at moment.....best of luck to you.....
Here is a recent news article regarding the Boise housing market. From what I understand the local housing market is doing very well and on fire. A few weeks in the news there was a story about how new homes cannot be built fast enough locally to keep up with the demand.
Population growth behind rising Treasure Valley home prices
Quote:
The reason? Real estate expert Chris Lofthus says it's because of population growth.
"We're seeing an influx of people that are moving in from out of state, anywhere from Alaska to Washington," said Lofthus. "A ton of California people are moving in here."
The growth is clearly visible in the state's largest school district. According to Meridian School District spokesman Eric Exline, the district has grown by about 500 kids per year over the past few years.
By next year, Exline says that number could double to 1,000 per year, which is the pre-recession level.
Currently in Ada County there is a 3.6 month supply of homes available. A normal market is 3-6 months. Sales are still good and homes priced to sell sell. Those testing the market at too high a price are coming down. I would say there is a reasonable amount of homes available. As a Realtor here I monitor the market. Here is an exceprt printed in the Valley Times of a piece I wrote this week [SIZE=3][/SIZE]
I have been waiting for the numbers however November isnot yet in. Onward we go. In Ada County sale for October are down for themonth. We sold 4.06% less homes. Last October 2012 we sold 641 homes in 2013 wesold 615 homes. Even though we sold less the homes the median price of soldhomes was over 20% more this year than last for October. Last year the medianprice for the month of October was $177,500. This year $214,000. Overall forthe year median values for home sales in Ada County are up 16.57%.
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Anyone searching online MUST understand that sites like Trulia, Zillow, etc. have many listings on their sites that are not actual real estate listings. They show "pre-foreclosures" which are homes where the owner has had a lender file a "notice of default" which is a public record. Most homes that have a notice of default actually cure that default and those homes never go for sale. To boot, the price listed is the amount owed, so it can appear that there is a low priced home on Trulia, but actually, it's just some person who got more than 30 days behind on their mortgage that had a notice of default filed on a mortgage amount that is below the market value of the home. Also, these sites include "foreclosures" that are more than 6 months to a year old that were also pulled from public records that have long since come on the MLS and been sold. These sites also include old listing data for homes that have sold.
The best way to search homes that area actually on the MLS is through an agent website (agents receive "IDX," a direct feed from the MLS to our websites while third party sites like Trulia and Zillow aggregate data from multiple sources and do not get a direct feed from MLS) or through the Intermountain MLS website.
Right now Trulia is showing more than DOUBLE the number of "active" listings in Boise than what is actually in the MLS.
loveagrey1...boisefan is always grumpy about anyone inquiring on anything in Boise. Most of the people on here are used to that already. I always try to just provide answers if I have them and be nice. I know this forum helped us years ago make the decision to move here and we have zero regrets! To the Dr who posted...housing around here is fairly affordable depending on where you are coming from. To those of us living here and paying our mortgage every month, it doesn't seem cheap at all. I think that is what bothers so many people on the forum is when someone from say California or New York posts about how "cheap" life is here in Idaho it rubs them the wrong way as most locals here are merely surviving as wages are relatively low compared to bigger cities. Boise is still a fairly small city and some people moving here from San Diego or LA expect things to be equal and they just aren't. Yes, a $200K home here would cost about $600K in many other parts of the country BUT minimum wage runs rampant here and many families are working 2 to 3 jobs to support their families as there just isn't an overload of high end positions here that come open that often. We have lots of retail and restaurants but those don't pay that much and managers there make around $40K per year. If you are a real Dr., you shouldn't have any worries regarding income and having a comfortable life here. Good luck
Well, for me personally I'd take grumpy and realistic over pollyanna and blissfully ignorant, which also seems to run rampant here. I get the same crap tossed out at me. It seems to be a dedicated effort on the part of a few here to brandish those with differing viewpoints as "negative" or something else. You should look at HDL's post history for proof of that; I think she holds one of the highest reputations on this entire forum and yet she won't post here because of the tendency to squelch anyone who has anything that isn't positive to say about Boise.
Fact of the matter is OP asked a question - about Boise housing and the economy - that is asked here almost weekly. The TOS provide that posters should use the search function to find answers to questions which have already been asked and answered many times before. I don't see how pointing that out is considered "grumpy."
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