Boise Real Estate - Deals And More Deals
The Boise real estate market has taken a hit just like every other market in the country, but there still has to be people that have to move and people that have to sell. Then there are the people that want to buy or sell because they just can't pass up the great deals that are out there.
Some areas of the Boise real estate market are holding value better than others.
The Southeast Boise real estate market is doing pretty well considering the times and if you are looking to buy in the SE Boise area, you probably will not get quite as good of a deal as you would if you were to go more to the west.
Homes that are closer to the Downtown area are keeping their values to a higher degree. Location, location, location is what you always hear with the Boise real estate market, and it really comes into play in there down market times. So, you may not quite get the deals that you might expect if you want to buy in NE Boise or N. Boise.
If you are really looking to purchase and get a great buy. W. Meridian, Idaho is a place that you can discover some great buys that are still in a convenient location. There is a ton of new construction there that is sitting empty and homes that are going to foreclosure. Some great deals will be in subdivisions like Paramount, Lochsa Falls, and Bridgetower Subdivisions.
The Star and Middleton, which area about 10 miles east of the primary market are really ripe for the picking. Because of these cities being out of the way a bit and a lot of new construction that is vacant, you can find some excellent buys here. There are homes that were originally listed for 1.1 million that are on the market for less than 500k, and homes that were originally 400k that you could pick up for 250k-300k.
Foreclosed (bank owned or R.E.O.) are plentiful, however a lot of them require investing in repairs, new carpet, paint, and general rehab. Some are left in exceptional condition and others are missing all fixtures and smell like pet pee. Interest rates are amazing right now. On Friday some banks were offering 5.25% for conventional purchases. Now keep in mind this is for great credit ratings (720+) with 20% down and all the fixings.
There is financing available out there. The options are less attractive for investment purchase and refinance, but I found a bank that is offering amazing deals. You can even find 100% loans still out there, but 95% is more typical!! It's called Rural Development or R.D. and is a government backed loan. These loans are available for properties in Kuna, Star, and Middleton. Also, still available but not sure for how long is IFHA 100% financing for people with good credit.
The program is called "Good Credit Rewards." FHA financing is available with a 3.5% down payment which is an achievable goad. If you have yet to purchase and are waiting on the sidelines, it will probably be a good time for many months to come. If you are looking to buy something in the Boise real estate market from Boise to Caldwell, it is crucial that you understand the numbers and have an experienced agent at your side.
About the Author
Ben Janke is a Realtor in the Boise market and has written a book that saved one couple over $27,000 in one purchase from one tip in the book. Make sure to get your copy and download it at http://www.vizionsrealestate.com
Tell others about
this page:
Comments? Questions? Email Here