Boise Mortgages

10) Selection. In 2007, Treasure Valley home sales were down 45 percent (from 2005). A few years ago you’d have a tough time finding the home of your dreams. You’d ultimately compromise on a lot of items, such as distance to work, or which schools the kids went to. But today, whether you’re looking to downsize or upsize, or whether you want a large home with acreage or a little condo in town, the selection is at historic highs.

9) Price. “Affordability is returning to the Treasure Valley,” says a local Realtor with Re/Max. In today’s buyer’s market, the often-ridiculous competitive bidding, and automatic-escalation clauses are just not happening. The usual ‘feeding frenzy’ that occurs when buying and selling a home works to the seller’s advantage. The purchase price gets higher and higher from buyers’ anxiety of “this is the perfect home – I have to have it!” If anything, sellers are competing for your business!

Location. Everyone wants to be close to something… even if that means buying a home that “gets you away from it all!” The immense selection caused by the current market saturation of vacant homes in Boise and the rest of the valley means you get to choose. Close to shopping or downtown? Close to school? Close to family? Local restaurants? Freeway access? What are the area’s crime statistics?

7) New Homes Priced Right. “Builder Don Hubble has purchased billboard ads touting homes for as little as $98,000. Corey Barton is building homes in Kuna for $149,900 that two years ago would have gone for $200,000.” Not long ago, buyers had to sometimes “play games” if they wanted a new home: lotteries, waiting lists for new construction, etc. Today there are thousands of specs ready for immediate occupancy!

6) Don’t Settle. Sellers in today’s market fully understand that not only can the buyer take all the time they need, they can (and should) insist on an appraisal paid by the seller, complete home inspection, partial closing costs paid by the seller, etc. Buyers can, for example, pin sellers down on details revealed in a home inspection, insisting things are fixed.

5) Affordable Prices. Usually investor-purchased real estate makes up a significant portion of home sales. This reduces the amount of true, for-sale-by-owner homes and causes exaggerated price inflation as these investors seek only the maximum return on their investments, and regular home buyers compete with landlords. Though they will someday return, investors have trimmed back in this Idaho real estate market, making it less competitive for new home buyers.

4) Rates. Interest rates are teriffic right now, especially on Idaho FHA loans.

3) Financing Available. In a previous article I wrote about new, more relaxed FHA regulations, and other types of financial instruments to secure Idaho home loans, that defy the notion that “no one’s getting a mortgage loan right now.” The truth is, if you have a steady income, and a decent (not required to be perfect) credit score, the chances of finding a suitable loan program for you are as good as ever!

2) Just Make an Offer.” Many sellers/builders have been sitting on their for-sale homes for a very long time, and some simply must sell… and soon. So feel free to make that ridiculous offer. Even if it’s not accepted, the old days of “tear up that insulting offer!” are gone. They’ll negotiate. This sure beats the bidding wars and feeding frenzies where the only question was “who has the highest bid over asking price?”

Last, but certainly not least…

1) The Treasure Valley is a Great Place to Live. In a previous article, I wrote about the kudos recently given to Boise, and Idaho in general for its attractiveness as a place to live, work, and play. Idaho is home to major technology companies, and our outdoor recreation is second-to-none. It’s no wonder the state and treasure valley receive “best of” awards year after year. All things considered, it really is a great time to buy in Boise (or Eagle, or Meridian, or Nampa, or Caldwell, or… )
Idaho Rocks the Casba!

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Article written by Lisa Kratz and Mike Little of Apex Mortgage
Meridian, Idaho  |  (208) 888-9251  |  www.myidahohomeloan.com

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Despite the negativity surrounding the economic slump, the high price of gas, and a declining real estate market, Boise Idaho remains a diamond in the rough, and Boise Idaho Mortgage loans continue to get funded, as more people make the move to the Gem state.

And it’s no wonder — Idaho is renown for its natural beauty, and Boise is home to top-performing national companies like HP, Micron, and Simplot. As one newspaper put it: we’re blessed by our computer chips and potato chips.

In its Top Ten list for 2008, Kiplinger ranked Boise Idaho as # 4 nationwide, as one of the “Best Cities in which to Live, Work and Play.” Kiplinger’s team of experts looked at factors such as population growth, percentage of workforce in the “creative” class, income growth and cost of living in coming up with their top 10 list. The creative class consists of scientists, engineers, educators, writers, artists, entertainers and others, who add economic and cultural influence to a city and make it a great place to live.

Forbes Magazine recently ranked Boise as the second-best place to start a business and a career, and the seventh Up-and-Coming High Tech City. Cities were ranked according to economic growth, cost of living, jobless claims, tax rates, etc.

And USA Today recently wrote there is “No End In Site For Idaho’s Growth,” citing Boise Idaho as the heart of American’s biggest economic boom. “In Idaho, the state with the nation’s fastest-growing economy, homebuilding hasn’t crashed as it has across much of the USA, and a two-decade run of prosperity continues.”

These authors attribute Idaho’s population and financial growth to several factors, including our computer technology, agriculture, and scenic attractions such as fishing, hiking, white water rafting, skiing & snowboarding, and other outdoor activities that draw tourists by the tens of thousands.

Nationally, many homeowners are struggling to make ends meet, and U.S. companies are facing stiff challenges such as difficult credit, soaring commodity prices, and expanding corporate tax rates. Nonetheless, Idaho remains strong with a solid economy and upward job growth.

Idaho Stats:
Size: 82,747 square miles (state rank: 14)
Population: 1,466,465 (state rank: 39)
Density: 17.7 people per square mile
Retail sales: $13.5 billion
Manufacturer shipments: $15.2 billion
(source: Bureau of Economic Analysts and Census Bureau)

If you’re seeking a Boise mortgage, please give me a call today, or submit your info online at www.myidahohomeloan.com.

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Article written by Lisa Kratz and Mike Little of www.myidahohomeloan.com
Apex Mortgage  |  Meridian Idaho  |  (208) 888-9251

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Since the beginning of 2008, the number of homes on the market for sale in Ada County alone has risen over 17%. The median listing price of these homes - almost 6,000 of them - has been $259,000. The median sales price, however has been $205,000, a difference of almost $55,000! Canyon County trends are similar. And the same trends are holding true beyond Boise, Eagle, Meridian, Nampa, Caldwell, and the rest of the Treasure Valley. It truly is a Buyer’s market!

While current economic conditions might lead us to tighten our belts and hold on to our wallets, savvy investors, home owners, or anyone who has been considering a new Idaho home loan, could be wise in taking advantage of the current Idaho housing market.

Beyond the supply & demand factors (lots of inventory driving down sale prices) mortgage rates are also still hovering at relatively low levels and, due to recent FHA policy changes, more people are qualifying for more expensive homes, even lower-income folks with less-than-stellar credit.

With so many Idaho homes on the market, buyers have the advantage of fine-tuning exactly where they want to live, and can choose very selectively based on schools, crime statistics, distance from work, and other conveniences. Currently, there are many more REO’s (”real estate owned” properties), and many builders, sellers, banks that are eager to unload unoccupied real estate. This gives buyers even more leverage to ask for lower prices and other concessions, such as the seller’s help with down payment and closing costs. With so much leverage, buyers can haggle, sometimes resulting in uncommonly low housing prices.

Contrary to what is making news, Idaho mortgage lenders aren’t simply cutting everyone off due to the sub-prime mortgage crisis and other conditions in the real estate market, nationally and locally in Idaho. Borrower requirements are stricter right now, but if you have a steady job and your debt-to-income ratio is OK, now could be your best time to buy!

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Written by Lisa Kratz and Mike Little of www.myidahohomeloan.com
Apex Mortgage  |  Meridian, Idaho  |  (208) 888-9251

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Although newspapers and magazines are full of the virtues of foreclosure homes, it is always a great challenge to find a good place. This is mainly due to the stiff competition that exists in this field. As soon as a foreclosure property is put up for sale, the real estate agents who are very much alert in this area, makes a scoop and clinches the deal to sell it at a high profit. Did you know that most foreclosed homes sell for around 50 to 80 cents on the dollar? It is very true. In order to become an ‘early bird’, you need to really do some groundwork.

An Easy Way to Get Started With Foreclosures!

Foreclosure listings can be found on several related websites, and you can really gain an edge over your competitors by studying them frequently so that you are aware the very instant that the listing gets posted. Such websites post massive databases which contain the various details of the foreclosure properties in specific areas. You get to know a fairly accurate market trend by conducting a study of the various such websites.

Due to the effort required to upkeep the database, the website, most of the time, charges a nominal amount as membership fee for access to their data. Most of the times, paid information is better, as it unfolds a great amount of listings before you, sometimes with pictures of the property too. But if you are not in a position to pay, or if you want to find out if making a payment is worth it, you can always subscribe to the free trial period which may be for seven days before making a decision. If you are able to source out some fantastic deals during this period, you are just plain lucky.

There are some other websites that offer you the use of their database absolutely free! Yes. You don’t have to pay a dime to access their data. But such websites are very tricky to find and moreover, there will be lots of people who keep an alert watch over these sites. The minute a good listing comes out, they grab it with both hands and you are left wondering…

So, the decision is yours. Either way, you could be the winner too.

The Top 3 Foreclosure Listings Websites

A great place to get started with foreclosure listings is the website http://foreclosuresource.googlepages.com/, where you can find an in depth review of the top 3 foreclosure listings websites. All three of the reviewed websites offer a free 7-day trail, so head over and see what is available in your area today!

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Written by Lisa Kratz (208) 888-9251

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