By Cristina Pescaru, CSP
Real Estate Consultant
Boise, IdahoNow's the time to buy or sell a Boise home

We are seeing a slow down in foreclosures in the Treasure Valley, and, as a result, multiple offers on bank owned properties in lower price ranges. For the frustrated buyers, and their agents, it feels strangely like the “boom” years of 2004-2006.

“Combined default filings for Ada and Canyon counties during the first quarter of 2011 were 1,565, compared to 2,405 during the same period in 2010” (Idaho Business Review).

Buyers are still waiting for the bottom to drop, but they may have to wait a little longer, and end up not having their choice. Sellers are waiting for the market to improve, when they should take advantage of the relative quiet in the foreclosure market, and of the weariness of buyers fed up with waiting to purchase “short sales”…Sellers that are not in a “distressed” position are very attractive to buyers, provided that they are willing and able to sell at market value.

In short, “there is no time like the present” applies very well to the situation in real estate today. While it is at times difficult to figure out if we are going up or down, if the multiple offers, and the slowing down of foreclosures will drive the prices up, or not so much, one thing is certain: if you are thinking of selling, now is the time. Sell. If you are thinking of buying, no use in waiting. Buy.

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Filed under: Boise Real Estate

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