Market Conditions in Boise>Question Details

Nathan Cox, Both Buyer and Seller in High Growth, U.S.A.

Where is the New Money / Young Professional buying in Boise? Do Fixer-Upper Opportunities exist? Where?

Asked by Nathan Cox, High Growth, U.S.A. Thu Aug 9, 2007

Readers,
Where is the young professional buying and why? Do opportunities exist for turnaround properties / rehabs? If so, where? Where is the culture just starting to surface?

Thanks

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Answers

9
It looks like Nathan may have decided to buy a brand new home in Caldwell back in Sept 2007 based on Canyon County tax records. That is a bit of a stretch for buying a fixer upper. Based on the original list price to the sold price, he appears to have received a good deal for the day but not where I would have considered where "young professionals were buying in Boise".
0 votes Thank Flag Link Sat Aug 13, 2011
Hi Nathan,

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,

Respects,

Wayne Bright
Realtor
Keller Williams Boise
208.286.8660
0 votes Thank Flag Link Sat Aug 13, 2011
It was fun to go back and read answers from 3 years ago on this question.

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.
0 votes Thank Flag Link Sat Feb 5, 2011
High Unemployment has created a large inventory of distressed property. It is definitely a buyers market although there is a strong market fro good quality homes, which many homes were built too quickly during the boom.
Web Reference: http://www.BuildIdaho.com
0 votes Thank Flag Link Mon Jan 31, 2011
Nathan - Opportunities do exist but now your in competition with everyone from the local grocery store clerk due to all the hype on the TV about flipping homes. The days of 60 cents on the dollar and all the no money down stuff that's out there has conveluted the inventory that true investors that can actually help people would normally absorb. One key thing to remember is to be able to make stronger offers and to create a niche. My suggestion is become a wholesaler find good deals and make sure to run the numbers a long term hold investor will be more likely to purchase a post tax cashflow property with some equity. Work with solid clients with the assets and don't waste time with marginal buyers. Also secure a buyers list. Buyers are gold in any market without them your dead find out what people are looking for and provide it. I work with several buyers looking for long term lease hold properties, flips, rehabs, etc... Get a system together and get the word out about what your looking for is the best way I have found. Also make sure your working with an lender that understands all aspects of investment lending. Things like seasoning, triple closes, assignment fees, etc.. can come into play. FHA has some stringent policies on holding a property less than 90 days. Attract quality investors through education and networking.
0 votes Thank Flag Link Mon Jun 23, 2008
Hi Nathan,
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 houses…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 I’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,
Shaun Greer
http://www.ExpertHomeOffers.com
0 votes Thank Flag Link Fri Sep 21, 2007
Nathan: More than ever, I would seriously consider working with a knowledgeable local Realtor who understands Boise market conditions and knows where the growth opportunities are. This critical information may or may not be available online.

Good luck!
0 votes Thank Flag Link Sun Aug 12, 2007
Roberta Murp…, Real Estate Pro in San Diego, CA
MVP'08
Contact
Ah-ha! it's opportunities you want Nathan?

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.
http://www.geniusrealtyblog.com/2007/08/12/87-short-sales-ad…

Enjoy!
0 votes Thank Flag Link Sun Aug 12, 2007
Nathan,

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.
0 votes Thank Flag Link Thu Aug 9, 2007
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