Curious about what is going on in Boise’s Real Estate Market? October numbers are in! Here are some quick facts we’re discussing right now regarding local Boise Real Estate Market, Ada County and the entire Treasure Valley:
- Inventory is Down
- Home Sales Are Down
- We are predictions on pricing and rates for 2023!
What exactly does this mean for the Boise Real Estate Market? Watch this video to hear where we think things are headed…
What you’re hearing is true…There is a correction/shift happening in the housing market. This is what homebuyers have been hoping for!
BUYERS: Instead of paying well over list price and competing against multiple offers, your interest rate will be higher. You might be paying more per month than the historically low interest rates that were available a few months back, but your total cost of ownership over the term of your loan is down. If you can’t seem to make the payments work with the 30 year fixed loans, seriously consider a 7-year adjustable rate mortgage. Data shows most people are not even living in their homes longer than 5 years these days.
SELLERS: You have an appreciating asset which is the best hedge against inflation. Instead of appreciating at record levels of 20% or more, it will appreciate at a normal rate of 3-5%. If you are selling your home, it’s CRITICAL that it is being presented and marketed in a way that stands out among the rest. Also, your pricing strategy is more important right now than it has been in a very long time. Real estate is the best place to have your money with high inflation. Don’t let the news influence you.
Curious how this impacts you regarding your specific situation?
Please reach out with any questions you may have!
Contact us at 208.391.5117 or email us at firstname.lastname@example.org
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