This is Wayne Bright with Keller Williams in Boise ID. I am available 7 days a week to answer any questions you may have and cut to the chase to save you a lot of time in finding a home in Boise.
Feel Free to call me at any point to discuss,
Keller Williams Boise
Some of the best opportunities today are the REO listings where people have ripped out the appliances and amenities making the homes difficult to finance. Since the able buyer pool is deminished, they drop the price accordingly creating the opportunity to rehab the properties while increasing financing options raising equity positions simultaneously.
Many young professionals are still buying in the downtown core area where they can bike to work or into the mountains or along the Boise River. Young families are more attracted toward Meridian just a few miles to the west which actually had a net gain in jobs in 2010.
I see there have been some real estate agents answering your questions. Now a real estate investors point of view. I am a local real estate investor in the Treasure Valley and I deal with 3-4 houses each month. Short sales, rehabs, wholesales, lease options, ect. As you probably know the market has changed significantly in the last 12 months. Last year I was retailing and wholesaling higher income housesâ€¦in the $300-500k price range. Today if you want to get in and turn a property for profit you need to be in the lower price range. My target market is $165-195k. I hold many of my properties for long term but Iâ€™m selling one starting tomorrow. My suggestion is to stay in Boise and Meridian. Eagle, Kuna, Nampa and Caldwell have a much higher inventory on the market.
I hope this helps,
Perfect. Swing low at some short-sales. If you want, I can show you how.
I've got the freshest list for your review SHORT SALES.
That's a good question, as far as growth, there are not really any areas in Boise that aren't experiencing it. Despite current inventory levels average days of market fell last quarter to low not even seen in 2005. If you are shopping for a deal short sales are on the rise. They can be hard to find on your own. Turning properties for a profit will require an area that is selling well and often. SW Boise has a great turnover rate and fairly strong sales. You should also take into account the price range of the homes you are interested in. There are heavier levels of inventory in certain ranges making it a much more competitive market. That's good for buyers and not so good for sellers. I hope that helps, you can gather more information from my website at http://www.BrianBrumpton.com including free reports for bother buyers and sellers.