Inventory

Posted by: admin  :  Category: Boise Market Trends, Idaho Real Estate Price Trends, Uncategorized

THE Question!

I love serving as a resource for my clients, friends and family and addressing any real estate questions they may have. Lately, the big question continues to be about inventory. “Can we expect more houses to hit the market?” “Will inventory improve?” “When do you expect inventory to improve?” These are all fabulous questions.

Fortunately, my answer happens to be the one you likely want to hear. (And if you know me, you know I’d tell you even if it wasn’t :) .

Yes! More houses will hit the market.
Yes. Inventory will improve.
Soon.

I’m not one for making random “predictions.” After ten+ years in the market, it’s not simply a wild guess that inventory will improve soon. If trends continue to follow historical trends, then the reduction in inventory we’ve been experiencing will improve and spring will stimulate inventory.

“Historically, inventory decreases steadily from August to December,” reports Marc Lebowitz of the Ada County Association of Realtors (ACAR). It tends to increase in April, he reports.

What’s it mean for you?

Spring is a popular time to buy and sell and move. Houses show better, flowers are in bloom, the sun is out and school is winding down.Inventory tends to improve as well.

 

Moving in and out of Boise

June, July and August are peak moving months. Image compliments of My Moving Reviews www.mymovingreviews.com/move/mindblowing-moving-stats-2013

Buyers:

If you’ve been waiting to find the right house, a little impatience would be completely understandable. That said, don’t settle. Keep waiting until you find the house you know you want. Your choices should improve, based on historical statistics as well as my personal experience and snapshot of the market.

I have handfuls of sellers who have been holding off. They’re waiting for the right time and enough equity to put their house on the market. Many are planning to list in spring.

Sellers:

If you’d like to beat the rush, now is a wonderful time to pull the trigger and list your home if it’s “market-ready.” Buyers are getting anxious and your competition has been seen, reviewed picked over within a few weeks of listing.

If you’re market ready and you have the equity you need to list, go for it. See my previous blog for more insight into “market ready” and “preparing for the parade.

Please don’t hesitate to contact me if you’d like help determining whether you have enough equity in your home to sell it. I can pull up sales data of comparable homes in the area as well.

Sincerely,

Shana Foster Moore, Realtor, Boise Real Estate Market Trends

Shana
ShanaFosterMoore@gmail.com,
Your Local Boise Real Estate Professional

 

Interest Rate Chart

Posted by: admin  :  Category: Boise Market Trends, Financing, Idaho Real Estate Price Trends, Real Estate, Uncategorized

Here’s a chart with updated mortgage interest rates, for reference in your real estate considerations and mortgage payment calculations.

Mortgage rates 30-year fixed 15-year fixed 5/1 ARM 30-year jumbo
12/11/2013 4.55 3.6 3.34 4.55
12/4/2013 4.55 3.62 3.33 4.57
11/27/2013 4.44 3.47 3.29 4.45
11/20/2013 4.39 3.42 3.28 4.42
11/13/2013 4.48 3.49 3.33 4.51
11/6/2013 4.35 3.42 3.25 4.44
10/30/2013 4.27 3.38 3.26 4.35
10/23/2013 4.27 3.37 3.27 4.38
10/16/2013 4.42 3.49 3.31 4.55
10/9/2013 4.39 3.47 3.34 4.58
10/2/2013 4.41 3.47 3.4 4.58

Chart data courtesy of www.bankrate.com/finance/mortgages/current-interest-rates.aspx