Sunday, June 26, 2011

Boise Real Estate in the summer of 2011

Boise appraiser and publisher of  " The Hennessey Report" says
"On average, a single family home in Ada County is getting offers in 5.3 months, Canyon County is 4.6 month from list date to offer date."

It is hard to believe that five and six years ago home prices were climbing so fast that people were in a panic to buy.  Over the past three years or so I have been involved in almost 90 short sales and there seems to be no end in site. A search at www.BoiseMeridianRealEstate.com showed 1,990 listings as short sales or foreclosures on June 26,2011.  Go there and take a look for yourself.  Property managers are telling me that rents are rising.  With that, extremely low interest rates and so many distressed sales one has to wonder if this train wreck is coming to an end.

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