Category Archives: Local Homes For Sale

Summer home sales in Boise, Idaho are smoking hot!

the Independence day weekend marks the mid point for summer sales for most of us. Boise’s 2015 sales season has been very hot from the early spring.  Unlike 2014, when we had a prolonged, colder winter, people seemed to be ready to start shopping in February.

Earlier on, in the start of the season, we say several homes sold at or above asking price.  Many others, have come back over the appraised value and some people still bought.  In most cases, a cancellation or re-negotiating  of the sales price happened.

Other interesting fact, the local real estate appraisers are factoring the “Production Builder penalty” into their valuations.  Without naming any specific names, we have several builders in the Treasure Valley who build hundreds of homes a year, typically in their own subdivisions.  If they build for less than “Custom Home Builders”, the value a home owner is going to be compared to other homes built by that builder.  They could be as much as $20/foot or more less than a custom home of the same size and finishes.  This has led to some upset realtors and home owner’s but its something to consider when buying or building a new home.

Realtors I work with are reporting multiple offers on newly listed homes in a matter of days if not the first day a home is listed on the local MLS.

As a result of our hot market, I am seeing longer times to appraise a home.  Loan underwriting times are getting longer as well as more home purchase loans are submitted.  FYI, Fairway Independent Mortgage Corporation underwriting times are about 5 business days right now.  Most loans are getting finished within 30 days of application.

Another trend I am seeing is people relocating from California, Nevada, and other states to the Boise area.  Many times they are retirees with pensions and cash from the sale of their previous home.  They can pay cash and close in a couple of days if they wish.  This may not be the best use of that lump sum, the HECM for Purchase Loan enables borrowers 62 or up to put up a fraction of the price of the new home and a reverse mortgage, or HECM, will cover the rest.  Expect to put down half and the Reverse Mortgage covers the rest.  Save the rest of your cash for getting outdoor and enjoying what Idaho has to offer.

Mortgage interest rates are still low.  They have moved up about .5% on a 30 year fixed rate loan from the low 3’s to the upper 3’s and low 4 percent rates as of today.  The “experts” keep saying rates are going to go up in the future, but so far they are holding at historically low rates.  You could be regretting not getting a home if you had the chance in summer of 2015 and didn’t.

 

Another cool local home for sale, check it out!

 

This Home is in the Park Center area, really close to all the cool stuff that Boise has to offer.

The dinning room and kitchen allow for entertaining large family get togethers.

The rooms are spacious and even the walk in closet is bigger than some apartments I had in the 80’s.

2541 S. Nantucket Way

See more photos at:

http://www.sellmyboisehome.com/property/98535565/

Now if you want to see this, contact Sara Brosier at 208-697-4111.

 

The payment would run about $1625 with 20% down and current rates on a 30 yr fixed rate mortgage.

For more financing options, call me at 861-7579 or apply online 24/7 here.

 

Gorgeous 6 bedroom home in SW Boise, 8090 S. Rafael Way

I live not too far from here, in fact I almost built my home in this subdivision a few years back.

My first thought that comes to mind with 6 bedrooms is the Multi-Generational household.  3 Generations living under the same roof would save money and promote family bonds.  I realize that not everyone would want this, but it used to be the normal in past times.

There aren’t too many 6 bedroom homes out there, just runs a search on Zillow.com or Realtor.com and you will see that they are uncommon and the prices reflect that.  This home is truly uncommon and it probably wont be available long.

Sara Brosier of Magellan Capital Realty is the listing agent, she can be reached at (208) 697-4111 .  To see more of her listings, go to http://sellmyboisehome.com/

 

Now for just a quick financing note, if you bought this with a conforming 30 yr fixed rate loan with 20% down, your payment would be about $1400 or so.  Not too bad for that much house!

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