Boise

Right now is an amazing time to purchase a home whether you are a first-time home buyer, new to investing or an avid investor.  Boise has the opportunities for you.  I was curious this afternoon to see just how many 3 bedroom, 2 bath, 2 car garage homes with over 1600 square feet from $125,000 to $225,000 were sitting on the market today.  In Boise alone, there are currently 78 homes that meet that criteria, the low being $130,000, average $178,169, median 179,900, and high 225,000. 

What this means for you.  As a first-time home buyer, you could qualify for $0 to 5% down depending on what type of loan program you commit to.  For this example let’s use 3%.  If we found you an amazing home for $150,000, you would only need to put down $4,500 plus any closing costs depending on your contract with the seller.  If rates stay around the same percentages they have been floating at, using 5.25% in this example, your approximate home mortgage could be as low as $828.31 per month on a 30 year fixed mortgage.  Let’s put that into prospective.  You have to live somewhere, and if you are living in Boise, I’m sure you are paying at least $650/month for a 2 bedroom apartment.  For less than $200 more a month, you can invest in yourself, your future, and start creating equity in a beautiful 3 bedroom, 2 bath home of your own that will only increase in value.

There are several financing programs one could qualify for to assist in making this opportunity a reality.   FHA (Federal Housing Administration), VA (Veterans Affairs), IHFA (Idaho Housing & Finance Association) are numerous residential programs that your loan officer can pre-qualify you for.  If you do not already have a mortgage professional to assist with your financing options, I have an amazing team of professionals that would be glad to assist. 

In addition, you can take advantage of the $8000 housing tax credit.  What an amazing bonus!  I strongly believe if you do not purchase a home this year, you will regret it.  I don’t think we will ever see house prices and mortgage rates as low as they are today again.  Take action!  You don’t have to do this alone.  I am here for you.  If there is anything I can do to assist you in any way possible to capitalize on this market, call me, we can do this together and get you into that 3 bedroom, 2 bath home of your dreams. 

As of Monday, November 9, there are currently 10, 860 homes for sale in the Southwest Idaho area. Idaho home sales are continuing to prove to attract first-time home buyers. First-time buyers, which include people who haven’t owned a home in the previous three years, qualify to keep their home-buyer tax credit of as much as $8,000. President Obama signed a bill that extends the $8000 housing tax credit through June 30, 2010. The tax credits apply to principal homes costing $800,000 or less, and excludes vacation homes. The new legislation also adds existing homeowners, who have been in their current home for at least five years and want to buy a new one, and allows them a credit of as much as $6,500. 2009 buyers can apply the credit with their 2009 tax return or request to apply sooner by filing an amended 2008 tax return with Form 5405. Home buyers purchasing in 2010, must qualify and submit all contracts no later than April 30, 2010 and close no later than June 30, 2010. Visit www.Thera.Idahohomeexplorer.com to search all current Southwest Idaho listings.:

Ada County: 6,138 Canyon County: 3,914 Owyee County: 174 Payette County: 634