1. Location: This is one of the most important aspects of investing in any type of real estate.
Kuna is a town of approximately 15,000 people with it’s roots being agricultural. Only about 30 minutes south of downtown Boise, Kuna is closer to Nampa and Meridian for shopping and medical needs. Though Kuna is swiftly adding on more and more conveniences, it is still considered a small town. South of Kuna is the Snake River and Owyhee Mountains.
Ada County Highway is studying and acquiring land for a bypass that will go south of Kuna and reconnect with the interstate system by Caldwell.(projected within the next 10–30 years) Kuna could potentially be situated between the bypass and the interstate someday.
Also in the works is a new interchange at Ten Mile (2009) and numerous arterial road widening, such as Lake Hazel projected for 2011. These projects will make an easier commute for anyone in the Kuna and surrounding area.
We don’t have the traffic problems some of the surrounding communities have and with these additions,Kuna should stay ahead of the growth and added traffic.
2. Interest Rates: Vivian Chan, a mortgage consultant from First Horizon,could not have said it better.
“ Boy, what a crazy week! The feds cut the rates and mortgage backed securities went on a crazy roller coaster ride with drops in rates we have not seen in years! We are stable now at 5.625% on 30 year mortgage rates which is just AWESOME! Boise, Idaho nationally is the 5th strongest real estate market. Be patient, be positive.”
Vivian knows what going on in the mortgage world and in the Treasure Valley. She is a wonderful resource for any kind of home loan.
Vivian Chan
First Horizon Home Loans
Eagle, Idaho 83616
(208) 938-6553 www.buildingwealthidaho.com
3.Wealth Building: Always one option to save for retirement is buying a piece of rural land. The one thing people have a hard time doing is holding on to it long enough to build equity, sometimes taking 30 years.
Opportunities to buy low and sell high the next year are hard to find but real estate is reliable product if done right.
Even a greater benefit would be to use part of this investment for your primary dwelling so you can avoid capital gains when you do sell.
4. Prices: Look for sellers that are motivated. If they don’t need to sell, they don’t have their property priced to sell. Although land prices in Kuna are not cheap anymore, we have seen a peak in prices in recent years, with a dramatic decrease in the last six months. The fear in the sellers market right now is that the prices are going to go lower. Sometimes you can capitalize on that and help a seller unload his debt. It is a buyer’s market for land too.
5. Labor and Material: With the slow down in new construction starts, you have more bargaining power with builders and suppliers. You should get more of their undivided attention.
6. Kuna Communities: Kuna is still rural and has numerous subdivisions of 3–20 homes that may have small acreage lots for sale. There are at least three newer subdivisions with one acre lots they have been building in for the last couple years. Some subdivisions are just a homeowners that was able to split off a couple of parcels for building lots, not your normal subdivision concept.
7. Agricultural community: In most areas of Kuna you can still have chickens or a family cow and not be snubbed because of them. Be sure to check with the HOA within your subdivision, or with the county before buying if this is important to you.
8. Weather: We have four seasons, with the longest being spring and fall. Low humidity,lots of sunshine and a great water source.
9. Opportunity: Good land is becoming scarcer and will get more and more dear. The best investment on Earth is Earth.
Tags: land, Kuna, building
