Sellers or Buyers Market in Boise Idaho?? (Remember we're not concerned what the market is doing in New York!)

In case you don't read any farther then this, let me just inform you that currently the Treasure Valley Real Estate market is indeed a SELLER'S Market.

The numbers for the first month just came out for both Ada and Canyon county, and the numbers are pretty amazing.

First of all, in any market a "6 months supply of homes" is a STABLE market.  Now what does "months supply" mean.??.....

Currently there are 1,976 Single Family units on the market in Ada county. If starting today not a single home more was allowed to be put on the market "months supply" would tell us how long we'd have homes to sell before they were all gone.  (It's kind of like NASCAR.... if you watch NASCAR some times it shows how many seconds behind a particular car is from the leader. Basically if the leader car were to come to a complete stop, how many seconds would it take for the trailing car to catch up. Same idea..:) hope that helped)

In the January we just had, there were 381 homes sold. And now there are only 1,976 left. So lets do the math:

1976 ÷ 381 =  5.1    or 5.1 month supply of homes.  

Now remember 6 months supply is STABLE.  More than 6 is buyers market... however less that 6 is a Sellers market.


Not only is this evidence of a SELLERS market, but you can also look at the number of homes on that market as of Jan. the past 4 years and see a very shocking number!!

Total number of homes on the Ada Market in :

January 2008 -  4,307
January 2009 -  3,764
Januray 2010 -  2,991
January 2011 -  2,232
January 2012 -  1,976

As you can tell that number continues to drop, and with the number of homes shrinking, and the number of buyers increasing, it really is as simple as SUPPLY vs DEMAND!

Why so many buyers?:

1. Interest rates are still below 4%. If you are going to buy, rates have never been better.

2. Renters are tired of renting and hearing about their friends paying less on a mortgage.

3. Treasure Valley rental Vacancy at a 5 year low! Lots of renters, no place to rent = high rent.

4. Investors!!! With vacancy rates low, investors can buy a home and charge double the mortgage to instantly cash flow on a property.


The Boise market is unique! It doesn't follow what you, your parents, your barber, your yoga instructor, read and see everyday in the New York Times or on CNN.

As a licensed Realtor with experiance in the Treasure Valley Market, I am here to help you either buy or sell and make sure you get the best deal possible in THIS market!

You can call or email me with more questions you may have about our local market. 208-631-8775 or jeff@househuntersofidaho.com. Or just go to my website to search the market for yourself. www.jeff.househuntersofidaho.com

"We only got 86,400 seconds in a day......"

What do you do with it? Our time is valuable, so short, and yet we waste so much of it! NO THIS IS NOT A WORK MOTIVATION BLOG! :) This is a LOVE LIFE AND ENJOY IT BLOG today!  To many times we forget to enjoy everything we have. 

Lyrics make my life more meaningful everyday, and thanks to some pretty amazing lyrics and music videos, my prospective on life has been altered. Today I only want to share a couple quotes, lyrics and videos that make me a better person!

Please let me know how they effect you! :) Enjoy it!

 "One is responsible for one's own life. Passivity provides no protection."

Madeleine Kunin(1933-     )

"we only got 86,400 seconds in a day to
turn it all around or throw it all away
we gotta tell 'em that we love 'em
while we got the chance to say
gotta live like we're dying"

And finally, this video crosses my mind more then you would imagine. What would happen if we did know when it would end for us!?

Or better yet, maybe it's better we don't know and just live each day like our clock is about to run out! If we all did that,  and used our individual talents, careers, gifts, etc. imagine the quality of life we would experiance!

Today I switched it up a bit today I know! I love "Real Estate", but it by far is not the most "Real" thing that is important!

ATTENTION BUYERS: "THE 'GOOD STUFF' ON THIS MARKET DOES NOT LAST!!!"

There are a couple misconceptions out there today in the Treasure Valley Market, and they can have a negative effect on your buying experience if you are not aware and ready for the true nature of today’s local market. For example:

The meaning of "buyers market":

What many buyers "assume" Buyers Market means: ( and you know what assuming does) "Everyone tells me this is a buyers market, that means I call the shots. It also means that time is on my side, and that I'm in the negotiating seat. It also means that there are so many homes on the market, that I can take my time, worry about financing down the road when I find the right house, and then because I'm the only one looking at it, I'll offer extremely low and work my way up till we find a middle ground."

 THE ABOVE ASSUMPTION CAN NOT BE FARTHER FROM THE TRUTH!!!

If you or anyone you know has this mentality, there is a good chance that when they do find the "perfect house", by the time the act on it, it will already be gone!

What Buyers Market "REALLY" means in the Treasure Valley Market:

1. There are a lot of homes to look at on the market, BUT "the 'GOOD STUFF' on this market does not last,and is gone fast!

 2. It is very common that when something new comes on the market and is in even remotely good shape, there will be multiple offers on it instantly. THERE ARE LOTS OF BUYERS OUT THERE, and also lots of INVERSTORS (rental vacancies are at an all-time low, investors know how profitable rentals are right now) and they all want the some great deal you do!


3. Many REO and Short Sale homes will not even look at an offer without a "letter of loan commitment" from your lender or "proof of funds" from your bank. So if you wait to have your financing ducks in a row before you find the "right house" there is a very good chance that property will go pending in the amount of time it takes you do organize your financing.

4. The buyers negotiating "drivers seat" is instantly lost once there are multiple offers on a property. In fact, most listing agents will give all parties a shot at coming in with their "highest and best" offer. And if you are not at the top among all the offers, plan on continue looking at more homes....again.


In short, as a buyer you need to be PREPARED! Plan on what you want in a home, know what that is before going in. Have all your financial ducks in a row a head of time. And then when you find something that fits your criteria, MOVE ON IT! The longer you wait the less likely you will get the "deal" and the home that is going to fit you and your family the best.

As i said before " The 'good stuff' on the market, DOES NOT LAST, and is GONE FAST"

As an experienced realtor in the Treasure Valley Market, I'm here to help you or your friends know what a good deal is, and then help them feel comfortable to act on it once they do!