Wow, What could possibly be better than equity increases month after month! WE are in the midst of an ever strengthening Real Estate market. Forbes is just one of many renowned publications showboating the wonders of beautiful Boise Idaho and its surrounding areas. So I guess the secrets out! We have been enjoying years and years of very affordable housing. Between last summer and now we have seen almost a 30% increase in equity (in some places). Are we set to be the next big urban meca that will bring buyers for years and years to come? Can our Valley support this type of growth you ask? Well I can imagine some are excited to see our Valley grow in size and like ability and some (natives) a little more frustrated with traffic and price hikes. For all of the natives, good NEWS… It seems as if the market is starting to level out a bit for our summer sales and into fall. We have seen appraisers starting to come in lower than the contract price (which keeps those multiple offer situations from gauging the prices too much)
I am no prophet but maybe we will see a slight decline in pricing? Is this a good thing? For all our buyers out there looking to buy before interest rates increase, you bet! Now, for those sellers who are on the fence about selling while it’s up…I’d say you better JUMP. I can’t guarantee anything, but I’m betting we won’t see the exponential growth of equity over the next 4 years like we have seen for the last 4. Buyers, don’t worry.
Regardless of the equity growth, purchasing a home is still one of the best investments you can ever make. It is quite literally a savings account, and most often the ONLY way most people would ever be able to profit sizable amounts for investing, sizing up, debt reduction etc.
Feel free to reach out with any and all of your Real Estate needs- call or text me 208-906-6378