Shirley Walker, ABR, CRS, GRI

I have been dealing with US Bank in Portland on a Short Sale. This was a small builder (only a couple homes). He does not have deep pockets.

He is in his 50's. He has taken out a second on his personal residence (which puts him upside down in this property also) to pay this loan for over a 2 years. The value has dropped to about half what it cost him to build. Loan is approximately $400K and value is about $220K.

We submitted short sale package and they denied it because he won't release his IRA (Value $37K) to them. They told him they "were going to come after him". He asked them "for what" since he has nothing left. They said his IRA. So - utimately, the house will go to foreclosure sometime next spring or summer after being vacant for over 2 years. Values here continue to drop - so they will get less than current offers. Builder may have to take out BK to stop them from getting his IRA? Private retirement accounts are protected from creditors. What are they thinking?

They even lied to the Buyer's agent - we got US Bank on the phone and they told her they had approved the short sale but the negotiator was out and they couldn't get a letter out until she got back which would have been the week of closing (Gina)...it was a lie - they said they accepted the short sale but they were actually wanting a modification - they wanted the Builder to sign another note for $200K for 5 years at about $2000 per mo. He is broke - they already got all his money. LIARS LIARS LIARS AND HORRIBLE BUSINESS PEOPLE. THEY LOST AN ADDITIONAL $50,000 OF OUR TAX PAYER MONEY BY FORECLOSING AND SELLING AT AUCTION.

10/26/2009 So the home went to Auction last week and US Bank accepted a bid from an investor for $175,000. This is nearly $45-50K less than the short sale offer that I had at the closing table when they offered a loan modification instead of a short sale. They lied to me until we got to the closing. (US Bank in Portland). We worked 6 months on the short sale. The builder had tried to sell it for nearly 2 years continuously. Now the investor has it on the market at $229,000 and has a full price offer within a week. So he will make about $40-50K.

It is crazy that we as an industry are just sitting back and watching all this happen. We haven't organized and stood up for mainstreet. We are just letting the banks do these outrageous things to each other. I live in the most conservative state in the union and our elected officials could care less. They have everything they want.

Welcome to Idaho and the Surprise Valley Community located between Warm Springs Ave and Highway 21 -near the Old Oregon Trail and along the black basalt cliffs this area is known for. This is east Boise living at it's finest.

Ideal for the recreationist - minutes from Lucky Peak Reservoir. Also boasting easy access to boating, swimming, camping and fishing in the Boise River. The area also overlooks the beautiful Boise Foothills, the Barber Park Nature Reserve and the Boise River plus the cultural ammentiy; the Idaho Shakespear Festival outdoor theatre.

Additonal ammentities include tennis courts, walking paths and a community center and pool.

Excellent schools; Riverside Elemenary, Le Bois Jr High School and Timberline High are all ranked high academically. Private schools are also available - Riverstone Academy is just down the hill. Riverstone is K-12 and a college prepatory school. Many of the graduates are said to get into very tough colleges.

Surprise Valley was developed in the late '90's by O'Neill Enterprises (OEI Properties), a second generation Idaho developer. They are very well known and respected developers and have given us some of Idaho's most premier communities, such as: Lane Ranch in Sun Valley, Hearthstone (fractional) in McCall, River Run, Bown Crossing, Canyon Point and Lakewood in Southeast Boise, Meadow Creek in Northwest Boise, Woodbridge in Meridian and are working on the "Tree Farm" in Eagle off of Chinden.

Deciding which community best suits you is a difficult decsion. For information on this or any other community in the Treasure Valley, call me at your convenience: Shirley Walker, ABR, CRS, GRI, Associate Broker - RE/MAX of Boise 208-830-9208 www.buyre.org or shirleywalker@remax.net

I have been studying the stats for Boise and find them interesting. Our inventory is up and Median Price (Approximately $210,000) is down - as are sales (36%) from 2007. However, certain pockets are starting to recover. We have about 11-12 months worth of inventory on an average. However, in certain price ranges, that drops to 6% (which is indicative of a "normal" market). These are the low price homes in Ada County - there are other price ranges with 30 months inventory - but to see the bottom end leveling out is exciting!

I would say if you are a first time buyer - it's safe to buy here NOW! Prices are stable, rates are low and inventory is normal in the under $240,000 price range.

Buying a new home is a major decision and I know questions will arise, when they do, call me: Shirley Walker, GRI, ABR, CRS, Associate Broker, RE/MAX Capital City, Boise, Id. 208-830-9208 wwwbuyre.org

If you are looking for a "Golf Course Community" - this is the ultimate! SpurWing is the only planned country club community in the Greater Boise Valley and is definitely the Ultimate Boise Golf Community.

A divided boulevard leads you through SpurWing's massive stone arches and takes you through the beautiful landscaped club and golf course grounds, ultimately arriving at SpurWing's magnificent clubhouse.

SpurWing boasts a superb practice range, allowing you to work on your game after work, right there. You have always dreamed of living at a place like this and you know that there is nothing else like it!

Life at SpurWing truly offers you all the attendant amenities literally at your doorstep. What a wonderful place to live, raise a family, enjoy all of SpurWing's facilities, and meet many new and friendly neighbors. It's all here, and just waiting for you.

And, when you ultimately decide to sell your SpurWing home, think of this. SpurWing Country Club is unique in that club memberships outnumber home sites by about 500 to 70. As a result, the fortunate seller of a SpurWing residence will very likely find more than a few club members who will want to "Be one of the Seventy".

Don't hesistate too long - just one phase left with available building lots.

For more information or answers to questions which arise when you consider building or purchasing an existing residence in this fabulous community, please feel free to call at your convenience. Shirley Walker, ABR, CRS, GRI, Associate Broker, RE/MAX Capital City 208-830-9208 www.buyre.org

Yes - that's the current market trend. Buyers can now purchase larger homes with more upgrades for the same amount of money when compared to purchases in the last 2 years here in Boise! It's definitely a good time to upgrade or to buy investment property - plus interest rates are in the 5.5% range. Homes are selling and the inventory is down from last fall (thank goodness).

100% financing is still available in the lower price ranges. Idaho Housing has funds available with down payment Grants. FHA has raised their maximum loan amount. Rural Development funds are an excellent source of financing in Kuna, and rural Canyon and Owyhee Counties.

There are some excellent opportunities available! Foreclosures and Short Sales are still a large part of our maket here in the Treasure Valley