The Boise Valley: November 2009

I've just updated the "Local Market Reports" page on my website, TheBoiseValley.com.  Below i've put together some "average" data of Canyon and Ada counties.  Please keep in mind that this is not very "specific" data and there can be some significant differences between the two counties, various cities, areas, neighborhoods, price points, ect...remember "All Real Estate is LOCAL"!  If you need a better breakdown you can download the reports from the "Local Market Reports" page or just contact me and I can put together a report with as much or little specificity as required.  I will post updated data around the middle of each month and will post "quarterly" data as it comes in.

• Average rolling Monthly sold Price: -1.65%
• Monthly sold Volume (6 months): 374
• Inventory (12 months): 9.8 months

Applications for Home mortgages fell sharply last week to the lowest level in 9 years.  I think this was mostly due to buyers waiting out the eventual extension of the "Tax Credit".  Now that it has been extended and expanded, I suspect we'll see the mortgage activity begin to climb.  With the expansion including existing home owners we should actually see the application activity rise above anything we saw over the summer.  For a full explanation of the new criteria go HERE to see an excellent chart from the National Association of REALTORS.  There is also some excellent FAQs HERE.  If anyone out there is contemplating moving to The Boise Valley, or you already live here and have questions...give me a call, we'll chat!

So, we have a new name to go along with a new deadline...and even "new" criteria.  The "Worker, Homeownership, and Business Assistance Act" of 2009 extends the $8K for qualified "first-time" buyers and even expands to offer a credit of $6,500 for "qualified" buyers who are not first timers!  For complete explanation as well as some very good FAQs just click HERE.  While there has been some concern that this program is stealing sales from the near future...frankly that is above my pay grade.  As a REALTOR here in The Boise Valley, it's my responsiblity to concern myself with what's in my client's best interest.  I just have to have hope that smarter people than me have their hands on the wheel when it comes to the bigger picture.

Well it looked like another good turnout for the 8th annual Zeitgeist Half-Marathon run around The Hidden Springs community in The Boise Foothills at the North-East end of The Boise Valley!  While the registration numbers pushed a thousand it was hard to tell how many showed up but It looked like several hundred anyway!  This is just one of the many foot races run through Hidden Springs each year.  Include the many bike races and the "Bicycle Friendly" Community Designation and you have one of the most active communities anywhere in the nation.  Moving here several years ago was the best "quality of life" decision our family has made.  Our neighbors are a rare blend of caring and fun!  Let me know if anyone out there has any questions concerning Hidden Springs or The Boise Valley for that matter!