Home Buying in 83713>Question Details

Zoey, Home Buyer in Boise, ID

Is Bristol Heights a good investment subdivision?

Asked by Zoey, Boise, ID Tue May 15, 2007

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What you need to consider is the area and what type of investment you are making. It's an established neighborhood so your appreciation rates are going to be more stable and you'll have a better idea of what your neighborhood is makeup looks like. It's got a good mix of homes as far as price ranges and the turn over rate is about average. It does depend on what type of investment you are looking for. If you are looking at rentals, HP is over there and that always generates a pretty good demand.
2 votes Thank Flag Link Tue Jul 10, 2007
Zoey,

As many others have mentioned the neighborhood is well established and has a wide variety of sizes and qualities. If you are buying a home to be your primary residence then you would be buying in a stable neighborhood that has been affected by the downturn in the economy about the same as most.

If you are really buying a home as an investment its value is most often determined by the amount of income the home will bring. Most property managers I know do not have many vacancies, partially because of the number of people who are losing their homes to foreclosure and short sales where the former seller can't buy so they need to rent.

The key would be to determine what the homes in that subdivision would bring in rents. If a certain square footage or bedroom/bath count would bring a better rent for the size it would be important to know that before you purchase. I work with top professionals in the property management field to make sure you are basing your decisions based on fact, not fantasy.

Once you know the amout of the rent, then examine the expenses and determine what type of return you want to make on the 30% down payment money you will be required to pay to buy an investment property.

If you have other questions, let me know.
0 votes Thank Flag Link Tue Feb 9, 2010
I listed a home as a SHORT SALE in Bristol Heights last month. The demand for the house was fantastic. We recieved 8 total offers, 4 strong offers and eventually decided on a slightly above asking offer. It was just over 30 days until we closed and in that time...we did not make appraisal. This is excellent news for someone who is investing. Picking up a high in demand subdivision home in a depreciating market and holding it until the market recovers will bring you excellent returns. Their are 22 active listings in BH right now and 9 of them have taken price reductions. 6 homes have sold or are under contract in the last 30 days. Make sure your Realtor does a CMA on the house you choose with the most recent solds (ideally 30 day). You should be able to make a deal!

P.S. I recommend all my investors stick to lower end homes. The carrying costs are lower, the potential of positive cash flow is greater, cap rates improve and affordable housing will be coming back to Boise so you do not want to outprice yourself for the future! Good luck!
0 votes Thank Flag Link Sun Nov 4, 2007
What type of investment are you looking for? Quick turn or long term?? That makes a difference. A good quality subdivision will be an excellent long term investment overall.
Web Reference: http://retrustee.com
0 votes Thank Flag Link Mon Jul 9, 2007
Bristol Heights is a quality subdivision consisting of about 500 homes in the $250-400k price range.
It offers expansive, lush community parks and common areas with walking paths, and is near shopping.
Excellent schools too.
Phil Hoover ABR, CRS
Associate Broker
RE/MAX West
(208)938-5533 Direct
Web Reference: http://www.boiseblog.com
0 votes Thank Flag Link Tue May 15, 2007
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