On my way to ID (Boise, Nampa: sales, real estate, rental homes)

[Nirky]

Yep, house closed today, will soon be on the road to Idaho, from Washington state. No housing secured, just have contacted realtor and have leads on several rental homes if cannot find suitable home to buy. Looking at Nampa, Boise proper, and Emmett.

[Excaliburk9]

Well congratulations, I think you will love it here. I live in the Spirit Lake area and love the guietness and lack of people.

Kat

[DMilt]

where in washington are you from?

[vintage]

may want to rent for one or two years as the housing markets adjust to more realistic prices. There will be many a good deal in housing in two years as the market adjusts. Or you can buy at today's high prices and end up top heavy on a mortgage.

[DMilt]

do you really think prices are going to go down in Idaho?

[vintage]

Originally Posted by DMilt

do you really think prices are going to go down in Idaho?

They already are. Cory Barton Homes is advertising the incentive of six months house payments being paid for the buyer. Trying to lure that last of the suckers in before everyone realizes that the bubble has burst.
Median house prices are not reflecting the true cost of the home sale because the cost of incentives are not figured in to the numbers.

[DMilt]

so what do you think the margin is between asking price and offer price now as compared to before? any thoughts on that?

[vintage]

Originally Posted by DMilt

so what do you think the margin is between asking price and offer price now as compared to before? any thoughts on that?

Margins? The real estate industrial complex obfuscates the numbers so it’s hard to have firm numbers on actual offers and sales numbers INCLUDING the incentives paid to the buyers. People slowly awakening out of their denial and trance like state of believing that “real estate can only go up”. Prices will drop substantially by the end of winter. This is simply because of the law of supply and demand.
Here are some numbers. Numbers of houses on the market for Boise and surrounding towns and areas on Jan 1st 2006 was 1,529 units, as of Sept. 28th 2006 4,534 units. This AFTER the busy home selling season came to a close.
For more info check this out. Just remember that the median prices mentioned at this site are bogus.
http://www.benengebreth.org/housingt...n/Idaho/Boise/

A home is only worth what the highest bid is for the day.
Home sale value has nothing to do with
· The price one paid for it
· The appraised value
· The mortgage on said house
· What one feels they deserve to get out of the sale
· What Mother said it is worth
· What the neighbors sold their home for
· Granite counter tops and the smell of bread baking
· All other wishes of the homeowner

It will get ugly next year in Boise. There are subdivisions built that need to be filled as well as many more in the development stages. Several HUGE planned communities are in the works as well. Lots of homes to add to the supply side and little demand. Unless, well there is one thing that might change that situation but it is very unpleasant to talk about.

[Nirky]

Well I'm here, and it's different than where I've lived. I viewed some of the Nampa area, Meridian, and lots of Kuna. Idaho is different than I expected, I envisioned green hills and mountains, but it's mostly flat and the hills are brown with few trees. Funny, today my realtor said Boise is French for "tree"!

Kuna was an old ag/rural area with a good number of newer homes mixed in and no real downtown, at least different downtown than I'm used to. Meridian is ok, I like north Boise but even if you're not in the foothills the prices are more than I'd pay.

Honestly, I think I'm going to stick with my original plan and check out Colorado. Not to knock this area, it reminds me of where I grew up in California. And I hear it's a growing city.

[cleosmom]

If you go further south to the Magic Valley, you'll find your rolling hills and green stuff. Although, with Fall here some areas are starting to go brown, not all mind you, just some. Where you are currently is high desert

Potato harvest is in full swing in southern and southeast Idaho.