Why is it that we only seem to hear about the bad news from the media?  I would like to give you some Good News!

FACT:  Approximately 30% of all U.S. homes are owned free and clear and do not have a mortgage.

FACT:  Of the 70% of households that do have a mortgage, 96.7% are NOT in foreclosure, according to the Mortgage Bankers Association.

FACT:  The U.S. Gross Domestic Product is more than the GDP of the next 3 countries combined (Japan, China, Germany).

FACT:  When mortgage rates fall to a record low, housing affordability surges to a record high.

FACT:  The Housing Affordability Index is at the highest level of affordability in history.

First-time buyers have more flexibility when entering into the real estate market because they aren't concerned about selling an existing home first - and given the low home prices, plentiful supply and very attractive interest rates, this is the optimal time for entry-level buyers with a long-term view.

Plus, first-time buyers can get a tax credit for as much as 10% of a primary residence purchase (up to $8,000) as part of the recently passed Economic Stimulus Bill of 2009.  The local Idaho Housing Authority offers a short-term loan of $7,000 for downpayment, which is due to be repaid after a first-time buyer gets his or her refund of the tax credit back from Uncle Sam.

As a move-up buyer, if you own a home that doesn't fulfill your current needs or you have a desire to change neighborhoods, take advantage of all options in available inventory.  It's a perfect time to find a home you really love.

As for investors, HOUSES ARE ON SALE!  Prices have adjusted approximately 12% across the country, even more than that locally (about 24%).  If you are looking for a long-term investment in real estate, then you should be enthusiastically looking for properties right now.  With the built-in discount on prices and interest rates, smart investors can hold onto the property to build equity and long-term wealth.

If you fall into any of these potential home buying categories, you might want to think of jumping into the local Boise real estate market soon.  My team and I, at the Tim Burroughs Group of Keller Williams Realty Boise, would love to help you fulfill your dreams of home ownership, moving up, or investing. 

With 14 years of experience, I am ranked in the top 1% of all real estate agents in Ada and Canyon counties.  As a previous real estate appraiser and mortgage lender, I bring a wealth of knowledge to my career as a Realtor.  You can reach me at 208-409-7653 or Tim@TimBurroughsGroup.com.  Give me a call or drop me an email.  Let's discuss how I can best serve you.