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Market Conditions in Coeur D Alene : Real Estate Advice

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  • Local Info7
  • Home Buying30
  • Home Selling2
  • Market Conditions5

Activity 5
Cindy Lee, Real Estate Pro in Spokane, WA
Thu Apr 17, 2014
Cindy Lee answered:
Check with your local lender for your specific situation. As lender's we often talk to people several months before the borrower puts in an offer.
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Andrew Byrd, Real Estate Pro in Coeur D Alene, ID
Wed Mar 19, 2014
Andrew Byrd answered:
Sid-

It has been awhile since you posted this question. Have you spoken with a lender regarding this since Jun of last year? I would like to speak with you to assess your situation and get you qualified to purchase. ... more
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Marla McWill…, Real Estate Pro in Coeur d Alene, ID
Sun Feb 20, 2011
Marla McWilliams-Lopez answered:
Thumbs up to Christina.... I couldn't have said it better.

Good JOB!

Marla :-)
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Marla McWill…, Real Estate Pro in Coeur d Alene, ID
Sun Dec 12, 2010
Marla McWilliams-Lopez answered:
I think you have a good point, Scott.

Much more inventory than sales, and no real multiple offer situations on waterfront, as there are on the lower priced REO properties. Although, I recently ran across a multiple offer situation on a waterfront property (bank owned, of course!).

Since my crystal ball broke awhile back, hard to say, however, if I were to have to put money on it, I'd say you're right, we have yet to see the bottom.
... more
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Chuck & Chri…,  in 83814
Fri Jul 24, 2009
Chuck & Christina Ethridge answered:
Not sure if these are the trends you are looking for, but here something:

* Nationally, new home construction makes up less than 12% of all home sales.
* In Kootenai County, it was at 32% for quite a while.
* Recently, Kootenai County's new construction sales are down to 27% of all home sales and *appear* to be decreasing.

This is actually very good news for home owners because right now, competition is new construction, REO's and short sales. With new home sales decreasing, it allows resales to increase. New construction has been keeping resales prices suppressed, in other words - if you want to sell a home you've lived in, you'd have to price it BELOW new construction comparables right now, even though your home is likely to have more upgrades, full landscaping, etc.

However, it's not necessarily good news for everyone... in an economy that is somewhat heavily dependent upon construction jobs, this means more people will either be out of work or looking for work in other locales - either working out of town or moving out of town.

Overall, I firmly believe that a strong decrease in new construction sales will ultimately be much better for our housing economy.
... more
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Market Conditions in Coeur D Alene Zip Codes

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