CURRENT NEWS Real Estate Market Report
Thursday, January 12, 2012
-- Opportunity! Less inventory of low priced homes coming on the market, half as many notices of default in the first 2 months of 2011 compared to 2010, fewer REOs (foreclosed homes) and fewer short sales (sellers trying to sell for less than their loan), and what remains on the market is limited. There are opportuities to purchase a great home at a historically low price (lower than the cost to build the home in many cases, not including a value attributed to the land/lot).
If you're ready and prepared to put in an offer when the opportunity arises, and we act quickly, you may be successful in purchasing a quality home with very good value. Home prices are the lowest they've been here in 10 years plus.
Just because a home is an REO/bank owned or listed as a short sale, doesn't mean that it has value relative to asking price. We're looking for value based upon a variety of factors - the most important of which is what you like and want in a home or vacation cabin! Short term and long term. Value in residential real estate is determined by the buyer - what matters most to each is unique, just as each property and home has unique qualities. As buyer's agents, we provide detailed analysis of comparable home sales, construction costs, vacant land valuations, etc, but value in residential property is ultimately about what you like, where and how you like to live and what the cost is relative to other simlar properties.
Dave and I are concerned with helping you locate and find the right property for how you live, what you enjoy, proximity to town or schools, backcountry trailheads, work, etc. What's important to you in your daily life? To look out the window and see big mature pine trees? To walk to a coffee house? To sit on your deck and have a view that seems to go on forever? Is it to have one week a year with your kids or grandkids on vacation at the lake? And how can your home or vacation cabin contribute to the experience of living today and in the days, months, years ahead?
We are your agents, acting on your behalf for the greatest benefit to you in your home purchase. And when the deal's done, and you're moving in, be it full time, or just a few weeks in the summer and during ski season, we're still here to help you in any and every way we can. This is why we want to be your buyer's agen, and ultimately a neighbor and friend.
For an in depth evaluation of MLS data on land, homes or any other areas of interest, please call (208) 315-2945. To see all properties currently available, please visit the property search page.