Lets face it – the current economy is bad news. We hear it every day when we switch on the TV or surf the web. But guess what? The current economy has done wonders for pricing on luxury homes. All over the country, many people got caught up in speculation and built very large, very expensive homes. Some built them to live in, others just as an investment. I am saddened by the amount of homeowners who got in over their heads.

The good news is that it forced a huge price reduction on the higher end homes here in Idaho Falls. Luxury homes that were listed at 1.2 million dollars just 2 years ago are being sold for half that amount. In fact, of the 12 homes that were sold this year in Bonneville County over the $400,000 mark – the average sales price was just 79% of the original list price.

What does that means for buyers who are looking for a luxury home in Idaho Falls? It means that there are some great deals out there. Not every luxury home that is on the market is a distressed property. But there are some that are really fantastic buys. If you are looking to upgrade or buy a new luxury home in Idaho Falls, call me and let me put my experience to work for you.