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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Rainmaker
680,186
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggresive & 560 FICO - OK, Colorado Mtgs

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 #1
Rainmaker
451,863
Andrea Bedard
Thompson Company Realtors - Silver Spring, MD
M.A.; REALTOR Silver Spring, MD and beyond

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 #2
Rainmaker
275,750
Kasey & John Boles - Jon Gosche Real Estate
Jon Gosche Real Estate, Boise ID - Boise, ID
Boise, Meridian, Ada/Canyon/Gem/Boise Counties

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 #3
Rainmaker
996,054
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

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 #4
Rainmaker
588,904
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
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 #5
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Rainmaker
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Kasey & John Boles - Jon Gosche Real Estate

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