Real Estate Prices in Northern Idaho

[IdahoEagle]

I think people are moving here for more quality of life reasons than economic reasons. Prices have also come down here and you can now buy single family homes here for $175,000 or less.

[SacTown11]

Originally Posted by Luckyfella

my problem with post falls is how in gods name do people make a living ? and how in gods precious name do you sell anything here ? ive tried unsuccefully to make a run at building and selling one home a yaer just to run my own little heaven of a gig small bussiness to only have the damn thing sit 2 years with no one interested as if the damn thing has the friggin plague further more to i tried unsuccefully to sell my own personal home in the supposebly best area of post falls riverside harbor only to have it treated like it to had the plague and both are well under appraised value , lastly out of desperation i tried to sell a mint 1996 z28 camaro convertible for dirt cheap only to have it also treated like it contained some type of plague i feel north idahos way toooo conservative and it makes living here miserable, im from montana where i sold alot of homes land cars and nevr had oneproblem, further more people need to quit being so god damn greedy and selfish it seems in idaho no one looks at anything you have for sale even tho they love it unless their getting an out right steal and i feel its being selfish and greedy i feel in any transaction both parties should walk away feeling whole and good about their decision but god forbid that ever happens in north idaho land of the greedy greedy conservatives what we need it more liberals or left leaners in this area then things will thrive for everyone not just the ultra rich with gold spoons in their mounths from when they were born , if i could sell one friggin home a year id be ok but idaho cant produce and im growing very very depressed as i have 3 kids im raising single handily and beleive me these homes are very very nice homes on hugh lots

BTW, I will mean no disrespect with this comment.

Cool, sounds like Post Falls is still numero uno on my list. My own personal Galt's Gulch. Sorry you can't sell at what you deem a "fair" market price, but perhaps the "fair" market price is much lower than you think it may be. Appraisers are partially to blame for encouraging outrageous home prices in the first place and maybe the people are finally going to refuse to pay at these inflated prices. I am of the view that a fair price is whatever price something sells at. If it takes you two years to sell a home at the price you asked for it then that was a fair price and if you slash the price way down and it sells in a week then that also was a fair price.

My only advice is to hang in here. No matter how bad things may seem, there is always good times ahead. Problems build character and some of us have more character than others and it appears that you surely have more character than I right now. Don't be angry at people for being reluctant in making such a major purchase such as a home at a time when there is absolutely no certainty in the future. None of us really know if we will even have a job within the next year...many of us already don't have a job. Even if you lost everything, you will still have your children and you will still have a desire to care for them. Don't let anything financial cause you depression....it really isn't worth it and you'll end up never being happy.

Good luck and even if I could afford it, I would not buy even a car much less a house right now. I am in wait and see mode. Are we headed for total economic collapse, a Great Depression II, or just a severe recession? I'm leaning somewhere between total collapse and GD II myself, but I hope for the latter since I too have a family to care for. Persevere.

[8 SNAKE]

Originally Posted by SacTown11

My only advice is to hang in here. No matter how bad things may seem, there is always good times ahead. Problems build character and some of us have more character than others and it appears that you surely have more character than I right now.

The post you quoted is from February of '08. If I recall correctly, that poster eventually sold his house.

[SacTown11]

Originally Posted by 8 SNAKE

The post you quoted is from February of '08. If I recall correctly, that poster eventually sold his house.

Oh. lol I don't look at dates, I just click on recent threads and start reading. Oh well... I would delete it if I could.

[GhostInTheShell]

Originally Posted by IdahoEagle

I think people are moving here for more quality of life reasons than economic reasons. Prices have also come down here and you can now buy single family homes here for $175,000 or less.

I think you're right. Back when I started this thread I was more in shock than anything else. I had it in my mind that rural, sparsely populated areas would be less expensive than cities, where land was at a premium. My mom, for example, lives in a rural area of NC where home prices are still in line with what Idaho's prices were back in 2000. Even here in the city you can buy a nice 3 bedroom home (new construction) in a safe area for around $150k. I think I see why though. The prices appear to be related more to the growth of the population than to its size. This seems so obvious in retrospect that I feel foolish for not having realized it sooner. For example, NC experienced around 10% growth from 2000 - 2006, whereas Idaho was closer to 12%; however, Coeur d'Alene and Sandpoint experienced 19% and 17% population growth, respectively! No wonder prices are higher there.

The good thing though--for me--is that prices appear to have leveled out and maybe even dropped a little in northern Idaho. Land prices especially seem to be a little more reasonable. Now, if only the price of materials will go down....