The real estate market is officially bottoming out.  The inventory of homes has fallen and there are more buyers out in the marketplace.  Home prices have not begun to rise again, but at least the price bleeding has slowed or stopped in many areas of the country.  Recent indication is that first-time home buyers are getting tired of sitting on the sidelines.  They see interest rates climbing and are getting the news that the real estate market is at or near bottom.  There is no better time to buy than right now! 

According to a recent online poll taken by the National Apartment Association, 17%  of renters plan to make the jump to home ownership in the next year; 41% of the 2,041 respondents planned to be homeowners within two years.  Only 31% planned to still be paying rent five years from now.  That’s a good sign for sellers hoping to get their homes sold so they can move on to another property.  When first-time home buyers stop entering the home buying market, sellers are held back from moving up to another property, which holds other sellers back.  It becomes a “domino effect.”  So, seeing that first-time homebuyers are starting to jump into the market again is a great sign of the real estate market picking back up.

Boise real estate is expected to be warming up and maintaining a more balanced market soon.  Homes in Boise, Idaho, will be more and more in demand as the valley grows.  If you would like to see all the homes for sale in Boise, Idaho, and surrounding communities, just visit:  www.BoiseMetroHomeSearch.com. 

Boise is chosen as Forbes’ No. 2 pick as best cities in America!  In my previous blog, I wrote about the Kiplinger Personal Finance magazine ranking Boise at No. 4 this year.  Kiplinger placed Boise in the No. 4 spot for 2008 because of its high proportion of college graduates, many creative residents, and the large supply of affordable housing. It is interesting to note that in 2006 Boise was ranked by Money magazine as No. 8 in the nation. Also, let me point out that Boise is ranked by Fortune Small Business magazine’s as its current No. 19, meaning we are in a great place to do business. If you live in the Boise area, you already know all the great things Boise has to offer.  But, if you are considering moving here, I would like to invite you to visit my website, www.TimBurroughsGroup.com and check out the area.  Besides showing you all the homes listed for sale in Boise, Idaho and surrounding areas, you will find a lot of photos and information about this wonderful area, including sports, recreation, cultural events, and educational opportunites. And, if you or someone you know is in need of the services of one of Boise's top real estate agents, you can reach me at Tim@TimBurroughsSellsBoise.com or call me on my toll-free number at 1-800-330-8104.

Kiplinger's Personal Finance magazine just released this year's picks for the top 10 best cities in which to work and live.  Boise placed number 4.  Their criteria for "best cities" includes places with strong economies, abundant jobs, reasonable living costs, and plenty of fun things to do.  They also look for cities with bright futures that have residents in creative fields, such as scientists, engineers, architects, educators, writers, artists and entertainers.  They felt these types of people are catalysts of vitality and livability in a city - and they found residents of the Boise metro area to be outstanding in these fields.

#1 Houston

#2 Raleigh

#3 Omaha

#4 Boise

#5 Colorado Springs

#6 Austin

#7 Fayettville

#8 Sacramento

#9 Des Moines

#10 Provo

Here is what Amy Bickers, Associate Editor, Kiplinger's Personal Finance, July 2008,  had to say about the Boise metro area in her article:

ROCKY MOUNTAIN HIGH TECH

Population:  568,086

Population Growth Since 2000:  18.2%

Cost-of-Living Index:  95.5 (100 being national average)

Median Household Income:  $49,833

Income Growth Since 2000:  16.6%

"How do folks get any work done around here?" Amy Bickers writes. "The skiing, snowboarding, fishing, biking and kayaking in and around Boise are an almost irresistible temptation to desert your desk."

"Explore Boise's eclectic mix of old and new neighborhoods, and you'll find homes with a median price of $235,000.  The average work commute is 18 minutes."

Boy, it sounds like the Boise metro area is a great place to live!  But I don't have to tell you that, you've already discovered that we live in a wonderful area.  Schools are good, unemployment is low, crime is low, the air is clean, the people are friendly, cost of living is relatively low, and there are lots of fun things to do here.  Outdoor sports, plays and concerts, restaurants, college sports, as well as minor league sporting events of all kinds.  Click on the HOME link to the left and then click on the Sports and Entertainment link (under Area Information) on the Home Page to learn more about the vast array of fun and excitement that can be found in this great city.

Prices of homes in Boise, Idaho, and surrounding communities are fairly low compared to the national average.  The real estate market is bottoming out and home prices will slowly start to climb again.  Now is a terrific time to be in the Boise real estate market.

If you know anyone who needs highly-competent, professional help in buying or selling a home in Boise, Idaho, or surrounding areas, just send me an e-mail to Tim@TimBurroughsSellsBoise.com.  

A couple of weeks ago, I wrote a blog about an article in the Wall Street Journal stating the housing crisis is bottoming out right now.  Just this morning, on Channel 7 KTVB News, Dave Petso, a local Boise financial expert said that he believes the Boise real estate market is bottoming out or will be very soon. 

This is great news!  What it means is two things.  One, there is no better time than right now to buy a home in Boise and the surrounding communities.  Many people have been fearful that they would purchase a home and the prices would continue to go down.  Generally, you only know when the real estate market has reached bottom when it is on its way back up.  So, take this news as a "heads up" that we are bottoming out.  Now is the time to jump into the Boise real estate market.

The second thing it means is that if you have purchased a home recently, the future for the Boise real estate market is very bright.  Homeowners that are thinking of selling in the next year or two will fetch a higher value for their homes.  We won't experience the crazy skyrocketing market of 2005, but we should expect a 3% - 5% annual gain, which will return us to a steady, balanced market.  In a more balanced market, though, it will still be the best-looking and best-priced homes that will sell first.

Boise is one of the best places in the country to work and buy a home.  We are looking forward to this valley growing and home prices to begin to climb again at a more "sane" rate.  If you would like more information about the Boise real estate market or about any homes in particular, please visit www.BoiseHomeConnection.com or e-mail me at Tim@TimBurroughsSellsBoise.com .