And Nearly Two Months Later it is STILL Hot, Hot, Hot

By
Real Estate Agent with Jon Gosche Real Estate, Boise ID Associate Broker #AB29503
http://actvra.in/HqG

A few months again (and surprisingly my last post, I wrote a blog post entitled Man, it's HOT, HOT, HOT.  Well, it was in part due to the weather (it has been a surprisingly hot summer for Boise, Idaho) but also about the real estate market in this area since the beginning of the year.

It hasn't stopped.  We've been so busy that Active Rain and my blog have fallen by the wayside.  My husband and I even jumped on the buying bandwagon and purchased a new home.  All that said, things haven't slowed down much and Acar Watercooler has another great post showing July's market report in pictures.  If you don't have time to read an entire article, surely you have time for a quick peak at numbers by pictures.


Check it out here - July Market Report in Pictures....The Fireworks Continue.


My question to you all - local or not.  Do you think this is sustainable?  What do you think will happen this last quarter, or 2013 after the elections are over?  I have some thoughts, but I'd like yours.

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Topic:
Real Estate Market Trends
Location:
Idaho Ada County
Groups:
Diary of a Realtor
WeBlog Anything (almost)!
Localism Success and Accountability Group
HyperLocal Neighborhood and Community Posts
Posts to Localism
Tags:
ada county market report
boise market report

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Rainmaker
590,238
David Shamansky
Creative, Aggresive & 560 FICO - OK, Colorado Mtgs
US Mortgages - David Shamansky

Nice isnt it! Smart people are taking advantage of lowest rates ever and with a lower priced housing market its more affordable than any time in the last decade plus to be shopping for a home!

September 03, 2012 12:43 PM
Rainmaker
409,926
Andrea Bedard
M.A.; REALTOR Silver Spring, MD and beyond
Thompson Company Realtors

Hi Kasey! First of all, I am sure you worked with the best Realtors in Boise, ID when you purchased your new home :-) Congrats!

I like to think things are going to stay very active for awhile - like David said, low rates + low(er) prices = great time to buy. Stable and increasing prices will also bring out more move-up buyers ready & able to finally move up ..

September 03, 2012 02:12 PM
Rainmaker
267,457
Kasey & John Boles - Jon Gosche Real Estate
Boise, Meridian, Ada/Canyon/Gem/Boise Counties
Jon Gosche Real Estate, Boise ID

Hi David - It's been a great year all around - though it is tough for buyers when things are so hot and they lose out to mutiple other buyers.  We've had a lot of investors come back into our market too, so it's definitely more competitive.

Andrea - I think things wil stay active for a while too, however, in my area in partiuclar we have seen a 15-22% increase in prices and I worry about that a bit - we really shouldn't be appreciating that quickly, it was one of the major issues in our bust and I just don't want to see a "double dip" depreciation situation.  It's been an interesting summer and short sales are slowing down here though.

September 03, 2012 07:57 PM
Rainmaker
995,711
Karen Anne Stone
Fort Worth Real Estate
New Home Hunters of Fort Worth and Tarrant County

Kasey:  As far as being sustainable... I think it just might be.  What we have had during the slow-down over the last three years or so... has been accompanied by what I call "pent-up buyer demand."  Those folks are still out there... but it's to the point where many of them no longer want or need to sit on their hands.

That pent-up demand will fuel the market for quite some time, I believe... unless some nasty calamity happens.

September 03, 2012 11:21 PM
Rainmaker
524,970
Don Sabinske
Sabinske & Associates Inc.
Don Sabinske, Sabinske & Associates Inc.

I am so glad to hear that you are all doing so well.  Sorry about the loss of the dark room and all the accompanying joy of that hobby, but I know that you will be happy in your new home.  And, I wish you all the best in the rest of 2012 and on into the future!  You deserve it!

September 05, 2012 06:17 PM
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Rainmaker
267,457

Kasey & John Boles - Jon Gosche Real Estate

Boise, Meridian, Ada/Canyon/Gem/Boise Counties
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