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Boise, ID

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The Boise Valley Local Market Reports update....

11-17-09
Riccardo Palagi - TheBoiseValley.com
Riccardo Palagi - TheBoiseValley.com: Real Estate Agent in Boise, ID
  • view my blog
  • Office: (208) 433-4585
  • Mobile: (208) 602-9501

Boise Downtow to the FoothillsI've just updated the "Local Market Reports" page on my website, TheBoiseValley.com. Below i've put together some "average" data of Canyon and Ada counties. Please keep in mind that this is not very "specific" data and there can be some significant differences between the two counties, various cities, areas, neighborhoods, price points, ect...remember "All Real Estate is LOCAL"! If you need a better breakdown you can download the reports from the "Local Market Reports" page or just contact me and I can put together a report with as much or little specificity as required. I will post updated data around the middle of each month and will post "quarterly" data as it comes in.

  • Average rolling Monthly sold Price: -1.65%
  • Monthly sold Volume (6 months): 374
  • Inventory (12 months): 9.8 months
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Southeast Boise New Communities- Lot sizes, prices, starting home values

11-17-09
Trey Langford
Trey Langford: Real Estate Media in Meridian, ID
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  • Office: (208) 724-9636
  • Mobile: (208) 724-9636

Legend

Community Profile Available Community Profile Available Community Building Community Building Community Golf Course Community Golf Course Pressurized Irrigation Pressurized Irrigation
Idaho Realtor Contact Inco Community Contact Fiber Optics Fiber Optics Community Park Community Park Lots by Water Lots by Water
Community Walking Paths Community Walking Path Gated Community Gated Community Community Pool Community Pool
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SE Boise New Townhomes & Patio Homes

Starting Home Values

Las Ramblas
Boise Ave E of Broadway, N on Holden (between Apple & Law)
Southeast Boise Realtor Contact Allan Brock		 $495k

SE Boise New Entry Level Subdivisions

 Lot Size
(in Acres)		 Lot Prices Starting Home Values
Rosedale
From Broadway, W on Pennsylvania, S on Leadville
Southeast Boise Realtor Contact
Utter Subdivision
S of Pennsylvania, W of ParkCenter on Amy
Southeast Boise Realtor Contact		 0.09 $200k

SE Boise New Move-Up Subdivisions

 Lot Sizes
(In Acres)		 Lot Prices Starting Home Values
Barbless Hook
Off Richmond S of Federal Way between Broadway & Leadville
Southeast Boise Realtor Contact		 0.08+ $249k
Dundee
E of Broadway @ Boise at Warren
Southeast Boise Realtor Contact Nsncy Ward Windermere		 0.07 - 0.19 $94k $194k
Milo Place
E of Boise Ave & S of Pennsylvania
Southeast Boise Realtor Contact		 $229k

SE Boise New Upgrade Subdivisions

 Lot Sizes
(In Acres)		 Lot Prices Starting Home Vlaues
Bridgewalk Subdivision
approximately 155 feet south of the intersection of East Iowa Drive and East Boise
Southeast Boise Realtor Contact Greg Scrivner, Group One Real Estate		 0.08+ $360k
Columbia Village
Jason Jackson, Superior Realty		 0.23+ $190k
Daybreak
S of Amity off Oregon Trail Way
Southeast Boise Realtor Contact		 0.3+ $350k
Kelton Crossing
State Highway 21 and East Lake Forest
Southeast Boise Realtor Contact Kim Degen		 0.27 - 0.41 $100 - $210k $369k
Lakewood Subdivision
Off Federal Way @ Bergeson
Southeast Boise Realtor Contact Judy Arnt, Group One		 0.12 - 0.28 $199k $315k
Promontory Ridge
East on Federal Way past Gekeler to Amity-turn left onto Amity and Promontory Ridge Sub
Community Profile Community Park Pressurized Irrigation Community Building
Southeast Boise Realtor Contact Michael Meloche, Coldwell Banker Tomlinson Grou Realty		 0.12- 0.22 $69k- $229k $269k

SE Boise New Luxury Subdivisions

 Lot Sizes Lot Prices Starting Home Values
Superior Ridge at Columbia Village
N of Highway 21 E of Grand Forest Dr.
Southeast Boise Realtor Contact Dewey Rowland, Windermere Capital Group		 0.27 to 0.53 $159k- $329k $574k
Talavera
Located on the north side of E. Boise Avenue between Apple Street and S. Ekert Road.
Community Profile Lots by Water Pressurized Irrigation
Southeast Boise Realtor Contact Louis Miller, Windermere Capital Group		 0.25 to 0.8 $159- $219 $478k

SE Boise New Affluent Subdivisions

 Lot Sizes
(in Acres)		 Lot Prices

Starting Home Values

www.BuildIdaho.com

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new about fha having financial problems

11-16-09
Scott Gray, ABR, REALTOR
Scott Gray, ABR, REALTOR: Real Estate Agent in Boise, ID
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  • Office: (208) 344-7477
  • Mobile: (208) 284-0758
  • Secondary: (208) 433-9839

The mortgage insurance premium now for FHA is over $2000 upfront plus a monthly fee. This should help their reserves for any mortgages that may default. It used to be a lot lower upfront premium and with some many new buyers going FHA, It seems like they will be collecting quite a bit of upfront money. Does this seem true to any other Realtors or lenders who have been following this?

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Will the $6,500 tax credit get some of the mid level priced homes sold in the next 6 months?

11-16-09
Scott Gray, ABR, REALTOR
Scott Gray, ABR, REALTOR: Real Estate Agent in Boise, ID
  • view my blog
  • Office: (208) 344-7477
  • Mobile: (208) 284-0758
  • Secondary: (208) 433-9839

After hearing of the new tax credit for people who have lived in their homes for at least 5 years. I am hopeful that it will help get the homes priced in the $200-$300k range get sold faster and also help spur the market activity in the first time buyer range and the higher end homes based on a the domino effect. I think it can only help, and get some buyers who have thought of moving to jump into action. Do you agree?

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FHA boss: FHA is not the new subprime

11-16-09
Dean Tucker
Dean Tucker: Mortgage Company in Boise, ID
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  • Office: (208) 388-0500

SAN DIEGO (AP) - Federal Housing Administration Commissioner David Stevens said Saturday that concerns the agency is headed for the same financial trouble that snared Fannie Mae, Freddie Mac and the subprime sector are unwarranted.

Stevens made the remarks during a speech at the National Association of Realtors' annual conference and expo in San Diego.

His comments come days after the agency revealed its financial reserves have fallen to a dangerously low level due to more homeowners defaulting on their loans. The FHA does not make loans, but rather offers insurance against default.

That's led to mounting concerns that it will eventually need an infusion of cash like government-controlled mortgage finance companies Freddie Mac and Fannie Mae.

But Stevens sought to dampen those concerns, noting that despite the most severe housing recession in decades, the agency has $31 billion in capital - $3.5 billion more than it had a year ago.

FHA is "the only participant in home financing services in the U.S. economy that hasn't needed a bailout, hasn't needed (funds from the government's Troubled Asset Relief Program), hasn't needed special assistance and is still completely self-sustaining," Stevens said.

"Without FHA there would be no (housing) market, and this economy's recovery would be significantly slower," he said.

The FHA has insured nearly a quarter of all new loans made this year, and about 80 percent of that business is from first-time homebuyers.

The agency's dominant role in first-time home purchases has raised questions about whether it taking on too much risk. Some have drawn comparisons between FHA and the subprime market, which collapsed due to homebuyer defaults on risky loans.

Stevens rejected such comparisons, stressing that the agency has far more stringent guidelines for the loans it insures.

"Nothing could be further from the truth," he said.

FHA's losses have increased with the unemployment rate as more homeowners default on their loans. About 17 percent of FHA borrowers are at least one payment behind or in foreclosure, compared with 13 percent for all loans, according to the Mortgage Bankers Association.

An independent audit shows FHA's reserves have fallen to $3.6 billion, compared with $685 billion in outstanding insured loans for the fiscal year ended Sept. 30. That's a ratio of 0.53 percent and far below the 2 percent threshold required by Congress.

Stevens credited the requirement with keeping FHA on good financial footing.

"That is why we're still standing while many of others did not survive this tumultuous time," he said.

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