Boise Real Estate Stats weren’t the highlight of the big news yesterday that,” real estate sales were down nationally by 27%”.  For some reason,  people are surprised.  The Tax Credit incentive did nothing more than expedite sales that would have most likely occurred anyhow sometime later in 2010 or early 2011.  A surprise not much different than getting the credit card bill after Christmas.  All we did as a Nation was borrow against future sales, and the May, June,  July stats just happened to be the bill.  Thanks to the MSM for missing the bigger picture though.

Courtesy IMLS

The good news though is that Boise home prices are  holding still.  In Boise, home values are actually going up slightly.

While some of us expected sales to fall, others were obviously surprised at the news.  Perhaps another surprise will be to learn that home values in Boise are holding firm (for now) and has actually increased 9% for the month of July. This marks the 3rd month of moderate increase.  So, hat’s off to the media for only telling us a part of the story…

Do me a favor will ya?  Follow me on Facebook and Checkout my Home Search page!  Share it with all you know who are even thinking about making a move!  Thanks!

Oh, and one more thing;  when you’re in need of Boise Real Estate Stats, don’t go to CNN, MSN or the like, come to me for the real deal…okay?

East Boise Real Estate has long proved to be a wise move.  For years, availability was limited to older homes, mostly outdated.  Recent development in Harris Ranch however is changing the face of the East Boise Real Estate Market.

East Boise Real Estate & New Construction Today

In September of 2009, the completion of the East Parkcenter Bridge broke loose a log jam of pent up East Boise new construction in  Barber Valley.  The Mill District of Harris Ranch has been chugging along with 5 new home sales YTD with a median price of $266k.  Compared to the resale activity of 9 sales YTD  and median price of $267k, that’s a pretty sweet reason to buy new!

In addition to the Mill District activity, the new River Heights Community by Brighton Homes has sold 2 homes and has 5 more pending!  This type of activity has gone on fairly unnoticed since most new construction at this scale hasn’t occurred in East Boise for almost 10 years!

When one considers East Boise as their location to purchase, until now, they’ve only been left with resale/used homes to choose from, many of which in their original style and design.  This hasn’t stopped the East Boise Real Estate market from outperforming its competition though.  Housing values in North East and South East Boise have consistently among the top performing areas to live regardless of how dated some of the homes remain.

River Heights and The Mill District have successfully combined the obvious benefits of new construction with the obvious benefits of East Boise in a manner that makes one wonder why anyone wouldn’t consider East Boise new construction as the best choice for a new home purchase.

When you’re ready for information about the East Boise Real Estate Market as well as the newest updates on The Mill District or River Heights, let me know!

You’ve heard the idiom, “One bad apple spoils the whole bunch”. But how many bunches get spoiled by 14,132 bad apples?

14,132 is the number of “Individuals who have received erroneous Home buyer Tax Credits totaling at least $26.7 million” according to the Treasury Inspector General for Tax Administration (TIGTA) report recently released.

Key findings in the report:

• 2,555 taxpayers receiving credits totaling $17.6 million for homes purchased prior to the dates allowed by law.
• 1,295 prisoners receiving credits totaling $9.1 million who were incarcerated at the time they reported that they purchased their home. These prisoners did not file joint returns, so their claims could not have been the result of purchases made with or by their spouses. Further, TIGTA found that 241 prisoners were serving life sentences at the time they claimed that they bought new primary residences.
• 10,282 taxpayers receiving credits for homes that were also used by other taxpayers to claim the credit. (In one case, TIGTA found that 67 taxpayers were using the same home to claim the credit.) TIGTA auditors have not fully quantified the total of these erroneous credits, but all indications are that the total will be in the tens of millions of dollars.

Oh yeah, at least 34 IRS employees erroneously received the credit too!

I’m sure that as months progress, the total number will eclipse these 14,132 apples.

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"Look out Beloooow!"

The Boise Real Estate Market saw pending home sales fall 30.64% in May, just after the deadline of the Home Buyer Tax Credit. This shouldn’t come as a surprise to anyone paying attention, even Lawrence Yun, Chief Economist for the National Association of Realtors, said, “In the months immediately following the expiration of the tax credit, we expect measurably lower sales.”

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Oddly enough this analysis was tucked quietly and tightly between the paragraphs of a May 4th NAR report that mentioned “pending home sales were on an upswing.”

I’m sure NAR copywriters are digging in to find some more news that can me misconstrued in a another attempt to keep consumers sleepwalking.

Perhaps it would be sufficient to be honest and truthful about the conditions of the market. No matter the news, good or bad, people still have to move: Some get relocated for work, some retire, some get married, some get divorced and the list goes on and on.

Boise Real Estate Stats (May 2010)

All stats cover Ada County and are derived directly from Intermountain MLS

• Pending Sales–As previously mentioned, pending sales fell in May by 30.64%
• Sold Homes–Fell 6.8 percent from April to May, but, sold homes are up nearly 43% over the same time one year ago….not bad!
• Median Price–Down 10% YTD, however, it’s up from April and standing at $155,000
• Inventory–Lower than it has been in previous years, but May brought a 4.29% gain and it sits at 3720 homes for sale in Ada County.

If you’d like a FULL set of the May Statistics for Boise & Ada County Real Estate complete the short form and you’ll get access to them INSTANTLY!

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