There is good news out there in the real estate market in Boise, Idaho!  We have always known that the Boise area does not usually feel the economic woes as deeply as the rest of the country because of our strong economy and great lifestyle and a recent article in the Idaho Statesman confirmed it.

The new president of the Idaho Association of Realtors, Willis Stone, has told the Idaho Statesman that he is very optimistic about the real estate market in the Boise area and throughout Idaho for this coming year of 2008.

Mr. Stone told the Statesman that a combination of Idaho's low unemployment, coupled with low interest rates and a slowdown in building starts will boost home sales in 2008.  He added that increased job creation over the next 3 years will continue the trend toward more people moving to Idaho for jobs, resulting in more people buying homes.

"The state predicts over 2 percent growth per year in the economy over the next 3 years, and when you add low unemployment, which will attract people to Idaho, you create a stronger market for existing and new home sales," Stone said.  "In spite of an adjustment in the market this year," he went on to say, "we are still one of the strongest economies and one of the strongest states in home sales nationally.  These statistics and the fact that homes are still selling and increasing in value are clear indicators of an improved market."

If you are waiting for the market to hit bottom, you won't know it until it is too late.  We only know where the bottom was after it has happened and is on the upswing.  2008 is the time to make a great deal on a home in Boise, ID and surrounding areas. 

Interest rates are incredibly low and prices are at their best.  Waiting will allow interest rates to rise, resulting in being able to buy less home.  If you are thinking of making a move, now is a great time to do it.   Call me and let's talk about it. 

                                                                                                           Tim Burroughs  208-409-7653

In our last blog, I relayed part of an article by Bernice Ross, author of "Who's the Best Person to Sell My House?"  As promised, here is the second half of her article on ignoring the negative media coverage and being optimistic about the real estate market:

"One of the negative media's favorite ways to tell us negative things about the real estate market is to quote how much sales are down from 2004, 2005 and 2006.  We had the lowest interest rates in more than 30 years, which in turn, triggered massive numbers of sales and price appreciation.  For example, the $400,000 mortgage on my house in 1986 had payments of $4,220 per month.  That same $4,220 today buys a $670,000 mortgage at 6.5 percent.  When I started in the business in 1978, interest rates were 9.75 percent for fixed rates.  They climbed to 13 percent in late 1979.  No one ever envisioned the low rates we have today.

The negative media hammer the fact that the volume of sales is down.  In most markets, if you compare the volume of sales today with what it was 5 or 10 years ago, the sales numbers look quite good.  In fact, with the Federal Reserve cutting its target interest rate to 4.5 percent, we can look for an improvement in sales, provided we get the word out to the public.

The negative media's take is:  'Real Estate Sales Slip 20 Percent from 2006.'  But the positive response should be:  '2007 Real Estate Sales:  4th Best Performance Since 1997.' "

We can win the war against the negative media blitz.  Prices have increased over the last 10 years and the demand for FHA loans is up substantially.  Real estate markets all over the country are reporting declines in the number of homes on the market in their areas.  Some people are even getting multiple offers when priced correctly.

Real estate always has been and will continue to be a great investment.  If you are looking for a home in Boise, ID, or the surrounding areas, give the Tim Burroughs Group a call.  We have a proven track record of great results in helping people, just like you, to buy or sell their home.  Call us at 208-938-8800 or e-mail us at info@TimBurroughsGroup.com for a free Seller's Guide or Buyer's Guide.

We list or sell a home every 3.7 days.  Call us today and then start packing!