I am from the east coast and was thinking about buying in sandpoint but I still think the prices are way over valued. I lived within 30 miles of NYC

Asked by Michael Timothy, Sandpoint, ID Thu Jan 14, 2010

and you can get more for your money there. Any thoughts?

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Carol Curtis, Agent, Sandpoint, ID
Wed Feb 10, 2010
Michael,
Depending on where you live back east dictates how fast your market declined. For years in NY, NJ, CN, and much of New England, prices have been incredibly high. Here in Sandpoint the prices jumped in 2004 and held till 2006-07. Now they are coming back in line with normal appreciation. There are deals because of the short sales, and sellers who are comfortable making a reasonable margin. Our prices are about a resort area. Your prices were about jobs. Either way, its a great price to live and there are lots of us from the East coast here. But bring your own bagels! Carol
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Marla McWill…, Agent, Coeur d Alene, ID
Sat Jan 16, 2010
It's anyone's guess when we've hit the bottom of the market, but there are houses in North Idaho that SOLD for over $1 million dollars (one in particular I can think of was waterfront for $1.3 million) and it SOLD in 2009 for just over $550K....that's a reduction of well over 60%.... Lots of screamin' deals that are bank REPO's, as well.

Best advice would be to seek out a Realtor that is well versed in short sales & bank repo's (REO's).

Good Luck in your search. Sandpoint is a beautiful area! :-)
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Jan 15, 2010
Not knowing your finances, wants and needs, not an easy question--however as far as NYC prices are concerned-- it depends of course on the area(s) of interest and the type of housing, number of rooms that you prefer, etc. There are many great buys out there for you to choose from no matter where you are/end up--ultimately the decision is yours as you know your lifestyle best, and a good agent will guide you well.

Anna
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Rick Evans, , 83864
Fri Jan 15, 2010
Hi Michael,
There are still certainly many listings that are over-priced for today's market and that will simply not sell and not get any attention. However there are also some nice values, whether for waterfront, ski property, or in town. I have represented buyers in the past year that have negotiated fantastic buys for resort property. And if you compare this area in general (even the over-priced stuff) to comparable resort destinations such as Tahoe, there is no comparison. I can't think of many ski mountains in Schweitzer's league where you can buy ski-in/out or lakefront for under $400,000.
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Jim Paulson, Agent, Boise, ID
Fri Jan 15, 2010
Sandpoint is a resort area and many of the homes are price accordingly. I think of the entire state of Idaho (for the most part) as a resort so it is hard for me to pay a premium in one area over another (unless it is waterfront or ski in / ski out style of properties.

For example, in Boise, I am only 16 miles from Bogus Basin to go snow skiing, the hills and mountains are covered in biking and hiking trails, I am also about 15 miles from Lucky Peak to go boating and fishing, the Boise River runs through town where I can catch rainbow trout and stocked Steelhead, etc., so I don't need to go too far to a "resort" area.

Prices in Boise are extremely affordable again (back to about 2005 pricing) and even the rental market will cash flow with some of the brand new homes again. Fourplexs can be bought very attractively too!

Jim Paulson
Owner/Broker - Progressive Realty
http://www.Progressive-Realty.info
Web Reference:  http://IdahoMLStours.com
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