How are the home prices holding in the RE slump? (Boise: low income, sale)

[cleosmom]

Originally Posted by Pineboy

Boise is still booming despite a slow down. In fact the whole state of Idaho is. A Government agency just ranked Idaho #1 in the nation for home appreciation and Idaho, especially the Boise Metro are expected to be at the top of home appreciation through 2007.
Come on think about it---Boise has been growing steadily(one of the fastest growing cities in the nation) for over a decade now and the growth is gaining speed. There is a lot of room to grow in Idaho and Boise so I don't see a bubble burst for quite some time. Some agricultural areas may see a slow down or very slow home sales, but Boise, McCall, Idaho Falls, Coeur D'Alene, Twin Falls, are going to keep booming and booming...

I work in real estate and I can vouch that even though values in Boise have risen fast the past few years, that the value of most areas is STILL undervalued.

I don't want the Upper Valley to BOOM, make it stop

[California Carl]

I still have not had any luck selling my house I hope I can get outta here soon. I think the housing market is in a frozen state. People are afraid to but a house even if they qualify for fear it will not be worth what they paid for it as soon as they sign papers. Who can blame them?
Now, if you know you won't have to move for 4-5 years, a new mortgage might not be so bad. Otherwise, you may find yourself upside down real quick.
Real Estate, like much of our economy is subject to cycles and this one looks ugly.

[SWCMale]

...ugly ....things could be beyond ugly, all kinds of disasters can hit, from one end of the imagination to the other......

love of money can be tricky, people lost in Enron, you just never know. If we all jumped on the new industrial revolution, windmill energy, feul-cell cars houses , solar cells, that is where the jobs boom is going to come from, paying the depleted programs coffers, keeping the cycles of prosperity going. Where is the political will to change over ...that is UGLY....

[vintage]

The real estate market in this valley is NOT "booming". BEWARE of the real estate agents on this board trying to drum up business! Due your due diligence or you could well end up "upside down" on a mortgage for a long LONG time.
If a real estate agent describes the Boise market as "booming" to you as a client they are violating their code of ethics and you should file a complaint to the state license board. The numbers do not support such a claim! Realators are not saying this claptrap amongst themselves. In fact business has nearly STOPPED. Pineboy you have discredited yourself.

[Pineboy]

Originally Posted by vintage

The real estate market in this valley is NOT "booming". BEWARE of the real estate agents on this board trying to drum up business! Due your due diligence or you could well end up "upside down" on a mortgage for a long LONG time.
If a real estate agent describes the Boise market as "booming" to you as a client they are violating their code of ethics and you should file a complaint to the state license board. The numbers do not support such a claim! Realators are not saying this claptrap amongst themselves. In fact business has nearly STOPPED. Pineboy you have discredited yourself.

Vintage--did you read my post correctly??? I don't think so
I was talking about APPRECIATION not SALES. Yes Sales are currently slow, but are starting to pick up again--don't believe everything you read in the local paper. There is a differece--don't you understand
Idaho (Boise especially) is still ahead of most of the nation as far as sales, even though it has slowed. It is a common fact amongst agencies that sales are starting to slowly pick up again.


You must learn to read a post correctly before blabbing your insults

And Boise is Booming. The growth rate here is plugging along at a record rate which does not mean home sales. It means growth and job growth.

I think you have discredited yourself for being so quick to throw judgment and totally twist what my post was about.

I work in real estate, but am not an agent. I work for a bank locally that closes real estate loans for california properties. Therefore, I have access to alot of real estate facts and numbers for the West.


Vintage????????Whatever...Look at the tone of most of your posts. They are negative, insulting, and one almost racist. You do not seem like an upbeat person.
Maybe there is a state board you can be reported to for being a negative person

[vintage]

I stand by what I say and time will continue to reveal the truth of the market. Each reader can determine if my post is of any value to them. I have nothing to sell. But I will speak from over fifty years of experience in living and doing business in this valley.

[Sawtooth]

I live in the North End and my neighbor behind me is an agent. He said that the market is starting to pick up again, be it slowly though, but the rate of current sales depends on which part of the valley you are in. He said that Boise is predicted to be one of the "hot" markets for 2007(like pineboy mentioned); even though it has been hot for the past few years.
(If I recall correctly, I read that boise is going to be a hot market in 2007 in a business publication)

I can vouch for appreciation rising, my north end home is worth more now than it was 6 months ago.
I have seen homes in the North End sell rather quickly the past few months.
I work with people who currently moved here from Seattle to invest in local real estate. They moved here because Boise is still a very good investment.

[California Carl]

Well gentlemen, I have always appreciated posts by both of you in this and other forums. You both have much to share.
I think vintage may be speaking on a broader spectrum. Nationally, our economy is very fragile and the real estate market is too. There are pockets where the real estate market is still holding its own however, the overall outlook is shakey at best.
I still hope to sell my house out here in the North Bay and move to Boise this winter or spring. I'll probably rent for awhile to get acclimated then buy something this summer... That is if I sell this place...
In the meantime, step to you're corners and wait for the bell.

[HDL]

Originally Posted by vintage

The real estate market in this valley is NOT "booming". BEWARE of the real estate agents on this board trying to drum up business! Due your due diligence or you could well end up "upside down" on a mortgage for a long LONG time.

Boise is a wonderful place to raise a family with many great things to do and see, but housing sales hit a wall in the May/June timeframe of this year and most housing sale prices have been going down since then, not up. And for someone to state otherwise makes me very suspicious as to their motives.

If you've been tracking housing here, you can easily see that we have a glut of homes for sale (more so prior to the holidays because so many people took their houses off the market in November) and few are selling, causing many price reductions. I remember back 2 yrs ago when the Saturday housing insert was about 1/4 of the size it was this year. To say we have a glut of homes available is an understatement

I personally would like nothing better than for the market to continue "up" as I was planning to sell my home next year. Believe me, I would absolutely love to be wrong about our market here Unfortunately, between investors now steering clear of Idaho because our market is headed down (this information is direct from investor forum websites that I track), Californians and other out-of-staters who cannot sell their homes to move here, over building and lack of good paying jobs, we are headed for trouble IMHO.

I believe if we the people of Idaho push for our new Gov Butch Otter to go after large companies to relocate here (like he said he would do as part of his campaign promises) and that pay an average of $50K annually, as well as improving mass transit options (light rail etc.), then Idaho will make it through the real estate crisis that is happening all across the country and yes, even the world.

I want people to come here and I want them to be happy with their decision. I just don't want to be someone who tries to manipulate them for my own reward

[micrguy]

I've been looking at houses in the Boise area since early September and most of the houses on my short list of houses to look at again once my house closes are still on the market. Some of these houses had been on the market for 90+ days before I looked at them and 90 days later they are still on the market.

What I wish the Idaho MLS system would do is not allow people who reduce the price of the home to relist the home to appear that the home is new on the market. This would give everyone a more accurate view of the market. I have had the same house show up in my email box of new listings 3 or 4 times in the last 60 days and more than one house showing up. It is hard to accurately guage the market if no house appears to have been on the market for longer than 60 days.