| As with most of the nation, Boise real estate has | | | | are tending to buy the smaller and more energy |
| suffered a dramatic drop in activity and prices in | | | | efficient starter homes. |
| recent years. Many home owners are afraid that | | | | The Boise real estate luxury home market is the |
| factors effecting markets in the area will no turn | | | | slowest due to the fact that jumbo loans have started |
| around any time soon. There is some good news on | | | | to be reported as defaulting in higher numbers in |
| the horizon and it is reflected in the market numbers | | | | recent weeks. This increase in default or foreclosure |
| for area. | | | | will cause primary mortgage insurance rates to go up |
| In regard to Boise real estate, the starter home, or | | | | and begin to exclude many buyers consequently. |
| entry level market is doing great. Home sales are | | | | The Boise real estate land market which includes |
| higher than previous years and even months, after | | | | building lots, developments and acreages has seen a |
| factoring in the typical winter lull. The first time home | | | | decent uptick as many people are spending their tax |
| buyer tax credit has lifted this sector of the market | | | | credit on acquiring acreages. When you look closely at |
| dramatically and continues to spur growth. The latest | | | | the numbers you will see that lots are moving very |
| jump in appreciation over the summer was due almost | | | | slowly which is logical since construction is also low. |
| exclusively to the tax incentives granted by the federal | | | | The sales of developments is abysmal but that too |
| government. | | | | makes sense given the lack of financing available to |
| The middle of the Boise real estate market, consisting | | | | would be developers right now. |
| of homes between about 200 thousand and 400 | | | | As the winter turns into spring we will see a brief rush |
| thousand dollars is very slow at this point of the | | | | in the Boise market with buyers trying to get a home |
| market. With financing getting easier to get due to the | | | | under contract in time to make the April deadline for |
| return of appreciation and consequently primary | | | | the first time home buyer tax credit. Past that we may |
| mortgage insurance, numbers should pick up soon. | | | | see a slow down over the course of this summer, |
| Construction rates, or new home starts, are minimal in | | | | especially if rates rise and markets do not improve. |
| this sector of the market, which means that people | | | | |