Rich, I am way confused. Last week you were excited about homes that were selling and you were very positive. You ended by saying that the number of sales was less than last year. What has you so excited? The rest of the story dear reader is the amount of activity that is going on. Since January of this year I have put together 10 deals buyers and or sellers. WOW! This is something I am hearing all over the Treasure Valley. Realtors are writing and receiving offers. Several properties have had multiple offers being submitted on them. Dear Reader let me tell you, THAT IS EXCITING!! First time homebuyers are buying, investors are buying. THAT IS EXCITING!!, things are heating up! Once the first time buyers and the investors start buying that means people can begin moving up to a bigger home. The wheels are starting to move! THAT IS EXCITING!! New construction homes are selling. THAT IS EXCITING!! Hey Rich, if that is true why are the number of sales down? Great question. Speaking personally less than half the deals I had going on closed. UGH! Some fell due to the buyers not being able to obtain financing (the credit they once had gotten was no longer available), some fell because the lien holders (sometimes the first, sometimes a junior lien holder) did not want to take such a low offer and/or the buyers did not want to pay more. This is also something I am hearing throughout the Treasure Valley. It is a very different market and will continue to be so. However it is very exciting. Next week find out how to receive your own bail out from the Government.
Tags: Bank Owned, Boise real estate, first time home buyers, Foreclosure, housing prices, Hud Homes, Idaho Real Estate, Meridian real estate, renting vs buying a home, REO, Rich Nesbit, short sales, weather, Yo Meridian
