(My previous post is made somewhat less relevant by this one, due to additional, and more current data.)

What’s currently happening in the Boise real estate market?  Right now, your guess is as good as mine.  So, here’s somedata to help educate your guess.  The way the data are at odds with one another indicates a transitional state – which probably will resolve itself within the next month or so.  Good vision now can position your purchase, or sale, at the leading edge of the wave.

So, activity has definitely picked up.  Selection has increased, deflating demand, and reducing sellers’ leverage, resulting in lower sales-price results.  Non –default homes are still the bulk of the market, and are competing price-wise with only a small, but reasonable premium over Shorts.  Homes offered as potential short sales reside in “Foreclosure’s Waiting Room”.  That’s because, due to inherent difficulties with short sale transactions, which lengthens the process and adds to their volatility, they have a less than (anecdotally) 50% success rate.  So, many are foreclosed on before they can be successfully sold.

Perennially, the real estate market peaks in mid-summer, after having slowed down into the holidays and the new year.  Cycle-wise, we’re just in the middle of the Winter-to-Summer ramp-up.  There’s little question that prices have, generally, bottomed.  Now, for those who have deferred their buying or selling, it’s just a matter of using all the current indicators to determine when to take action.

The long-term price trend for housing is up.  Once all the factors favoring a positive direction of activity in the housing market are obvious, any delay in making a move surrenders additional appreciation.  When you decide it’s time to make the move, give me a call.  I’ll provide you with a Market Analysis of your home, so you can confirm your decision.
Regards,
Alan Smith, visit my website   (208) 473-0343