Real Estate Info

The Truth About Short Sales

Usually when I begin working with a new buyer and we have the discussion about short sales, the first question/statement from the buyer is something like this: “How much lower than asking price can I offer on a short sale? Aren’t the banks willing to take whatever they’re offered?”Continue Reading The Truth About Short Sales

Idaho AG Publishes Free Self-Help Handbooks for Homeowners/Buyers

The Idaho Attorney General’s office announced today two new free publications — one to help struggling homeowners facing foreclosure and one for home buyers. The two publications are available on the AG’s website.

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Love those first time home buyers!

Over the past few months, I’ve had the pleasure of working with several first time home buyers in their search for their first home. It wasn’t always easy — credit issues, losing out to other buyers, playing the waiting game on a short sale. But when the sale comes together and closes, there is no better feeling for a Realtor.

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Interest rates up? Sales will be down.

Back in March, I blogged about whether home buyers should buy now or wait for further declines in home values and how interest rate increases could price a home buyer out of the market. A economist with Stewart Title provided a scenario where some home buyers would be priced out of the market if they waited to purchase a home until the home values declined another 10%. Well, that time has come.

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Short Sales in the Boise area

Short sale offers are taking forever to get an answer from the bank. Home buyers are getting frustrated and moving on when they don’t get an answer in 2-3 months. Currently, 292 homes in the Boise area which are short sales are “Pending” (seller has accepted the offer but not the lender) and another 263 homes

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Has Boise Real Estate turned the corner?

According to a newsletter from Guild Mortgage, “April Pending Home Sales came in UP 6.7%, rising for the third straight month and a 3.2% improvement over a year ago! The National Association of Realtors housing affordability index is near a record high and mortgage rates, while creeping up last week, are still at historically low levels. In fact, applications for purchase loans were UP 4.3% last week, according to the Mortgage Banker’s Association.”

Continue Reading Has Boise Real Estate turned the corner?