Real Estate Home Loans in Boise Idaho, Benchmark Mortgage - Prime Equity Group: Idaho: Boise

News for Boise Idaho First Time Homebuyers, Realtors and issues facing consumers looking for real estate loans. (FHA, IHFA, Idaho Housing, VA Conventional, Jumbo, ARMs, Tax Credit Updates, First Time Homebuyers)

View from the top-4800 Wildhorse

This beautiful one of a kind custom home was built in 2004. This home sets up in the Foothills with life amidst the wildlife, complete with fox, raccoons, deer and elk, yet close to all this area offers in outdoor activities.

Luxury Home in Boise FoothillsIt sets above Tablerock with views of the valley below.  You can get downtown in ten minutes, go the trails in the foothills to hike, ride your bike down the back roads, hike down trails from Tablerock down to the valley below.

The house itself is surrounded by professionally landscaped area as well as natural Idaho wildflowers.

The exterior is easy care stucco with a tile roof.  There is an art studio over the garage that is easily assessible to from the house.

 

Luxury Home in Boise Foothills

The front view of the house is welcoming with its sweeping front concrete drive. When you entertain here you can park a number of cars in front of the garage and on the driveway.  From the back of the house you can see the cross on Tablerock.

 

Luxury Home in Boise, Idaho

The formal living room, here used to house the piano has one side of a two-sided fireplace.  Crown molding adorns the ceiling and a ceiling fan allows air to circulate in this area.  Hardwood floors are well cared for and will add to your enjoyment for the small concerts you can hear throughout the house.

The fireplace is made of stone and brick and has an elevated hearth.

 

 

Luxury Home in Boise, IdahoThe kitchen and two dining rooms are on the other side of the fireplace.  The kitchen is a large room with an island.  It has painting above the cooktop and hardwood floors throughout these areas.  It is a comfortable space where you could entertain clients or a large family.  It opens on to the back patio area with views.  There are granite counters, a baking center, commercial-grade stainless steel appliances and a large pantry

 

 

Luxury Home in Boise, Idaho

The master suite is located on the main level and is 16x16 with large windows for viewing the foothills around the house.

 

 

 

 

 

Luxury Home in Boise, IdahoThe exceptional master bath with tub and extensive use of granite, tile and an architectural glass block shower this house looks its price.

There is a full sports/racquetball court with basketball set-up on the lower level.

 

Luxury Home in Boise, IdahoThe library-office has wonderfully finished wood bookcases and cabinets and the room is large enough to allow a full sofa there for guests to sit at while discussing the business of the day.

Did I mention there is 6,356 square feet in the house?

 

 

Courtesy of Coldwell Banker Tomlinson  Thanks, Dave!

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Wildhorse Ranch View House #1

I had the pleasure of seeing old friends when I went to this house during a Realtor's Open House this week.  Wildhorse Ranch subdivision is located high above Boise off Tablerock Rd.  In fact, you can see Tablerock from this house.

million dollar homes and condosThis contemporary styled house was built by Randy Hemmer Construction, a trusted name in high-end construction for over a decade.  It sets on 3.99 acres so there is separation from the neighbors and yet close enough to get to if you need help.  The views were taken into account when this home was built.

This home has the essence of quality the minute you walk in the doors.  With 5,946 square feet there is room to roam this home on three levels. 

 

 

 

 

million dollar homes and condosThe kitchen has ribbon cut mahogany cabinets, top of the line GE Monagram appliances, including double ovens, six-burner range with grill, microwave/hood, refrigerator, ice maker and dual high-efficiency Meihle dishwashers.  There is an separate upright freezer and a walk-in pantry.  The countertops are CaesarStone and look fantastic.

 

 

 

 

 

million dollar homes and condosThere are views from every room.  Here in the family room there are built-in bookcases, a wall hung television right above the gas-log fireplace.

You can be in the kitchen and carry on a conversation with guests in the family room.

 

 

 

 

million dollar homes and condosSitting in the master suite in those white sofas in the sitting area you can see for miles out towards the city of Boise as well as looking down you can see the beautiful in-ground pool.

 

 

 

 

 

million dollar homes and condosThe master bath has smooth lines and CaesarStone counters and integral sinks.  The shower has a tile surround and thick glass walls as well as two windows to see the view while showering.

You are so far away for your neighbors that you have privacy.

 

 

 

 

million dollar homes and condosThe workout room downstairs makes you feel like you traveled to a professional gym, yet you just walked downstairs.

 

 

 

 

 

 

 

million dollar homes and condosCan't forget about the pool!  Living in the lap of luxury makes even more sense as you swim laps in your pool.

 

 

 

 

 

 

 

This homes was graciously shared with us by Group One in Boise.  Thanks Kathy and Amanda!

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Best Buys in Boise Real Estate, Idaho

Every so many weeks I look at homes available in Boise and try to determine the best buys in Boise real estate, Idaho.  Sometimes it is a good deal because you get so much for the square foot price.  Sometimes it is a good value for an investor to pick up and be able to rent it out easily.

Best Buys in Boise Real Estate, IdahoWhatever the reason, I found eleven homes this times that are not short sales, so you could reasonably expect to get an answer to an offer anywhere from 4 hours to five days.  Some are bank-owned so they take longer to reply. 

I am a HUD-registered Realtor so I can also place bids to purchase HUD-owned homes.  Remember on HUD-owned homes we need to have "blue-ink" original signatures on the contract.  The earnest money check will be made payable to HUD or "your name" and must be a cashier's check or money order, usually $1,000 unless the asking price is very low.

Let me know if you would like a list of these Best Buys in Boise Real Estate, Idaho homes.  Just call me at 208-409-7653 or e-mail me at Tim@TimBurroughsGroup.com.

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Secluded luxury, but close to town (Boise)

Thanks to John and Monika Ryan for sharing their beautiful home at 10415 N. Bogus Basin Road in Boise.  The property is secluded luxury, but close to town (Boise)

Luxury Homes, Boise, IdahoThis is a spectacular single-story home with 5,790 square feet. The ornate security gate greets you as you pull in off Bogus Basin Road, which is the direct way to the Bogus Basin Ski Resort at the top of the foothills north of downtown.

This location is a quick 10-15 minute drive to the heart of downtown Boise. If you are a doctor at the downtown St. Luke's Hospital, you can arrive in plenty of time, but have your privacy and seclusion when it is finally time to go home.

This home is definitely built for entertaining with the larger great room/kitchen/informal dining and the formal dining room all open to each other. The spacious great room has a beautiful wood burning fireplace that can heat the entire area.

Luxury Homes, Boise, IdahoAs you arrive, you will drive down an expansive concrete driveway there for years of great service to the front of the house. As you can see, there is an more than enough driveway to park your guests' cars for the large social galas you might have at your home.

Notice the four-car garage on the right. You could actually park more cars inside if you worked at it, and there is generous storage with shelving built in on the entire rear wall.

On the left side of this photograph there is a "boat" garage, although truth be told you could easily park four more cars in it, as well.  So, whether you want to store your boat between excursions to the lakes and reservoirs nearby, or your car collection, you have room for them here.

Luxury Homes, Boise, IdahoThis is the first view of your home that your friends and family will see as they walk up to the front door.  The arch top of the entry is mimicked in the window above the massive front doors.  The front doors and the door between the house and the garage are solid wood and are 2.25" thick.

The stone work and stucco on this home are magnificent.  The tile roof will last fifty-plus years so the entire exterior was designed to be maintenance free.

The garage doors are covered with a solid-wood cedar approximately 1/2 to 3/4 of an inch in thickness and it gives a rich look to the exterior instead of typical metal doors.

Luxury Homes, Boise, IdahoThe interior of the entry looks just as nice as the exterior.  You see the arch way carried into the interior and the same solid look of the front doors. 

Art, or in this case displays of John's fly fishing flies, are framed on either side of the entry and the Limestone floors extend down the hallway, across the great room, through the kitchen and informal dining room and into the large utility room.

There is a brief view of some crown molding at the top edge to this photo but you will see other photographs that show the custom ceilings throughout this home and the crown molding that is a part of each room.

Luxury Homes, Boise, IdahoThe great room is massive, both in actual size but also in volume.  There is room for a pool table between what you can see of the great room and the entry way. In fact, you can see the rack for the cue sticks on the photograph above.

The wood-burning fireplace has the capacity to heat the great room, kitchen and dining rooms.  You can see the detail of the crown molding in the ceiling and the massive windows which allow a view of the acreage that surrounds this home.

There are built-in bookcases on either side of the fireplace and ample room for whatever size television you would like to have to the right of the fireplace.  There is much space to push furniture to the outside areas and have a beautiful dance floor.

Luxury Homes, Boise, IdahoThe wing to the east has an exercise room, which is currently being used with exercise equipment and set up for the wife's office at this time.  There is a full hall bath with a large vanity, commode and roomy shower. 

In addition, there is a door to a foyer that precedes the entry to the master suite through another door.  In that foyer are expansive wall cabinets for additional storage as well as drawers below for additional storage.  The builder indicated he has over $100,000 just in the cabinets in this house.

Then, you enter into the master suite.  It has two separate atrium doors that exit to the covered patio at the rear of the house.  This makes it easy if you add a hot tub on the back patio to have access to it from your bedroom.

Luxury Homes, Boise, IdahoThe master suite is large.  It has the same custom ceiling detail with the crown molding, as well as another fireplace.  This one has a wood-burning insert that actually is interconnected with the furnace system to send warm air through the entire house. 

There are bookcases on either side of the fireplace and, although you can't see them in this photograph, windows that allow you to see the city lights below in Boise.

There is plenty of space in the large master walk-in closet in the master bath which we will show you in the next photograph.

 

Luxury Homes, Boise, IdahoThe master bath has expansive counters and two separate vanity units, including a sit down area for the lady to apply her make-up.  In addition, there is a jetted tub and a walk-in shower.

At the end of the room, where the photograph was taken, there is a large linen closet as  well.  Again, the floors are of the durable and easy to clean Limestone.

There is a built-in drawer vacuum system that is attached to the central vacuum system.  This drawer style allows you to place dust from make-up or other items right into the suction where it is carried off to be emptied later.

Although we didn't take a photograph of the office, it is set-up with a three-hole putting green which can be removed and they have the carpet to cover that area.  There are built-in bookcases which also double as rifle storage if you have them.  It sets up well for an office and is near the front door if you need to have people come and see you at home.

MillionDollarHomesAndCondos.comThe guest or children's bedrooms are on the opposite side of the house from the master suite.

Each of these rooms has a built-in desk to make it easy to use for the student living at home.  Each bedroom has a closet with organizer shelving and clothes poles for great storage.

Each bedroom has crown molding and views of the property's acreage.

All of the bedrooms have plenty of room for beds and dressers.  Each of the rooms looks somewhat like this representative photograph.

MillionDollarHomesAndCondos.comHere's the picture of the kitchen from the informal dining area.  You can see how these rooms open to each other and how there is an island with a curved breakfast bar with room for seven or so to sit.

You can see the nice built-in refrigerator in the background and the microwave and wall oven.

The Limestone floors are easy to care for and again add to the overall feeling of spaciousness.

The granite countertops are surrounded by Cherry cabinets which were stained with a black stain that stops the cheery wood from turning either red or yellow.

Luxury Home in Boise, IdahoThis next photo shows the KitchenAid eight-burner cooktop and two wall ovens.

The kitchen is the hub around which all the activity in the house happens.

You can see out the large number of windows and the views beyond them to the acreage surrounding the house, as well as a pond. This pond was designed to hold the runoff from snow and rain, and then pump that water back up to the sprinkler system on the yard around the house to create a fire safe zone.

 

MillionDollarHomesAndCondos.comHere's a photograph or the extensive covered patio at the back of the house.  The windows on the right are the master suite and the center windows are the great room and informal dining.  On the far side is the formal dining room.

The quality of this home shows on all sides.  Just because you can't see the sides and rear of the house unless you walk around it, the builder extended the same finishes to the columns as they had to the columns at the front of the house.

This gorgeous home may be exactly what you have been looking for - well-designed and built by a craftsman with thirty-plus years of experience, mostly in this caliber of home.

Thanks again, John and Monika, for allowing us to see and share your home.  Although listed with Coldwell Banker Tomlinson Group, I can assist you as your Realtor if you are ready to look at homes of this type. Call me at 208-409-7653. Or if long distance, call 800-330-8104 or e-mail me at Tim@TimBurroughsGroup.com.

 

 

 

 

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Million Dollar View in Boise, Idaho

As a former appraiser and a present day Realtor, we have read so many descriptions of homes. Then we go to see them when we read million dollar view in Boise, Idaho, and you wonder, could it be?

Luxury Homes, Boise, IdahoThis Jayo Construction home is built on the edge of the rim overlooking Ann Morrison Park in downtown Boise and beyond to the city lights and skyline. This view is an understatement of a million dollar view in Boise, Idaho.

The home is on three levels with an elevator to make it easy for any member of the family or guest to get around.  There are four bedrooms and five and a half bathrooms. It has almost 6,650 square feet of living space.

It even has a four-car garage, actually two two-car garages, each with a separate entry into the house.

When you hear "no shortcuts" and "quality", they were writing about this house. There was a great deal of thought put into this home.  All of the windows at the back of the house and decking take advantage of the breathtaking views and the infinity edge poo - yes, I said it, a pool! In addition to that, it also has a built-in hot tub, as well.

Parts of the interior harken back to the years when everyone looked forward to seeing the next creation by the Evans Brothers.  Now, that interior detail of ceilings and wood paneled walls belong to the craftsman that work with Jayo Construction.

Luxury Homes, Boise, Idaho

 

This view of the kitchen from the informal dining area shows how open the kitchen is to entertaining in the informal dining room and the family room beyond it.  The continuity of the tiled floors makes this one large room.

The wood-wrapped windows and doors give access to the great out of doors, the beautiful park below and the city skyline in the distance.

Notice the double island design of the kitchen, one with a breakfast bar so the guests can engage in conversation as you work in your kitchen.

There are spice racks that pull out on either side of the expanded cooktop.

Luxury Homes, Boise, Idaho

 

 

Here's another view of the kitchen with the center island for food preparation with the second sink.  You can see the massive Viking stove with an eight-burner gas cooktop, center griddle and the double-ovens below.

There is a pot filler faucet on the back wall above the cooktop and a Thermador side-by-side refrigerator with wood panel doors to match the cabinetry.

The granite countertops are incredible in this kitchen.  There are two dishwashers and plenty of storage.

There's even a built-in wine cooler.

 

As you leave the informal dining room and kitchen, you walk through the family room and into a long bath that opens to the pool.  It is set up exceptionally well in that there are lockers that allow people to store their clothes and towels, and then a floor-to-ceiling shower so when finished in the pool or spa you can come in to shower off.  There is a long sink set up with two sets of faucets to make it easy to clean up to come inside for a meal. A private commode closetis available, as well.

Luxury Homes, Boise, IdahoWhen you come through the front doors, you can immediately see the intricate woodworking in the doors and wood paneled walls, and the incredible work in the ceilings above.  The entry has stunning tile floors.  Straight ahead, toward the back of the house, is the formal living room.  It has access to one-half of a two-sided fireplace that is shared with the office on the other side of that wall.

The formal living room also has tile floors and plenty of room for that beautiful rug you purchased while overseas or in your visits to the design center.

The windows are expansive and at least two-stories tall.  They face north so they don't need any covering and they allow gentle light into the room that won't damage your antiques.

To the west and toward the front of the house, there is a formal dining room.  It has a tile floor with a hardwood floor border around the outside of the room.  It has wainscot finish in real wood on the lower portion of the walls.

To the east is the elevator with dual side opening to allow for access on all three levels.  It has wood paneled walls. 

The office is the next room to the east on the main level.  It has wood paneled walls and ceiling and the other half of the two-sided fireplace that was in the formal living room.  The fireplace has a granite tile face and bookcases built-in on either side.

Luxury Homes, Boise, Idaho

Now, you"ll be impressed with the elegant master suite with it's sitting area and the buffet to the left of fireplace with the built-in coffee maker and sink. You won't even have to leave the room.

Again, the ceilings are custom made and the sitting area has custom crown molding.  There are views of the parks and downtown from the sitting room.

And, now the luxurious master bath.  It is unbelieveable! The glass-wrapped shower has two rain heads, two fixed wall shower heads and two flexible shower heads.

In the commode closet there is a bidet and a toilet.  There is a custom walk-in closet with two entry doors.

The floor is tiled and there is a jetted tub and two separate vanities.  See the photos below.

 

Luxury Homes, Boise, Idaho

Luxury Homes, Boise, Idaho

The elegance of the master bath is unsurpassed with the columns and windows out to the park and city beyond yet private.

The jetted tub is beautifully-placed between the two vanities.  The ladies' vanity has an area where she could sit and apply her make-up.  The men's vanity on the far other side allows him to get ready in private.

You can see the front of the arched shower enclosure in the picture, on the left, in the right side of that photo.  It has a bench for sitting for your comfort.

Amazing attention to detail and beauty in every direction you look.

 

The close-up of the ladies' vanity is below.

 

If you would like a personal tour of this beautiful home, please give me a call at 208-409-7653, or if out of the area at 800-330-8104.

Thank you to Windermere for the opportunity to showcase their listing in my blog.

Send any feedback you have about this post to Tim@TimBurroughsGroup.com.

Thanks!

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Best Real Estate Buys in Boise, Idaho

Wow!  Hard to believe and another week has gone by.  Another chance to look for great deals or the best real estate buys in Boise, Idaho.

Best Real Estate Buys in Boise, IdahoHow many of you have taken advantage and visited the Idaho Historical Museam in Julia Davis Park in downtown Boise?  It is a wonderful experience and you can learn so much about the history of this area and when different people groups lived here in the Boise Metro area.

Did you know that the street Chinden Blvd. actually came from two words "Chinese Garden" ?

The first weekend we were in Boise is almost twenty years ago now. we ended up at the cemetery at Roosevelt/Latah and Emerald Streets near where Americana comes in Emerald. 

It was fascinating because you could see the diifferent people groups who lived here in which eras and when large flu epidemics happened and other issues like wars that brought a larger than normal group of people home to be buried. 

It is worth a quiet stroll when you get a chance.

When we research we look at homes that are at least three bedrooms and two baths, have at least 1,200 square feet and a 2-car garage.  Then, we look to see what is the most value.  Sometimes they are new homes, and sometimes they are fixer uppers but all represent a good value, whether for your own personal home or a rental.

At any rate, Boise, Idaho is a great place to live and work and enjoy the great outdoors and indoors.  If you would like a copy of this weeks best real estate buys in Boise, Idaho list, let me know by sending me an e-mail at Tim@TimBurroughsGroup.com or call me at 208-409-7653.

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Best Real Estate Buys in Boise, Idaho

In an effort to bring the best real estate buys in Boise, Idaho I look for housing that would be good for a buyer or an investor.  I look for a minimum of three bedrooms, two baths, at least 1,200 square feet and a two-car garage.

Best Real Estate Buys in Boise, IdahoThis week I would like to share something I found on the City of Boise's website about Sustainability and Historic Preservation in Boise.

There is a walking tour of eight buildings in the downtown Boise area that use geothermal heat.  The buildings were all built between 1901 and 1930.  They each have an architectural flair that we don't see in more modern buildings.  If you would like a copy of the brochure with descriptions and locations of each of those buildings, click here.

 

The homes that are available on our best real estate buys in Boise, Idaho are priced from $49,500 to $210,990.  They are all priced at $50 or less per square foot.  They include the house, garage and lot.

Who says homes are affordable in Boise, Idaho?  To get your copy of this list, drop me an e-mail at Tim@TimBurroughsGroup.com or call me at 208-409-7653.

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Best Real Estate Buys in Boise, Idaho

Another week has gone by and I have more best real estate buys in Boise, Idaho.  I make a point to search for homes that will be resaleable.  I look for at least three-bedrooms, at least 2-baths, and at least a 2-car garage.

Best Real Estate Buys in Boise, IdahoWhen I look for best buys I try to find homes that are priced well for what they offer.

As an example here's a home with almost 2,400 square feet that is totally remodeled on the interior.  You can see more photos at http://www.2108Hilton.com.

Most of these homes could be good for either homeowner-occupied or tenant-occupied.

Our market has had an adjustment over the last four years and now seems to have been stable so now is the time to buy before we see interest rates increase and erase all the possible savings by having prices lower.

Call if you have specific questions or would like a copy of this week's best real estate buys in Boise, Idaho.

There were twenty-nine homes this week that qualified.  Send me an e-mail and I'll reply with a .pdf of the list.  My e-mail address is Tim@TimBurroughsGroup.com.

Want to search for homes in the Boise Metro Area?   Click Here

Call me with any questions you have about buying or selling a home.  I have been in the business for almost 30 years and may have the answer or know who to ask.

Pending Home Sales At The Highest Levels Since April 2010

Another day, another strong report for housing.

The Pending Home Sales Index climbed 2 percent in December, according to the National Association of REALTORS®. A "pending home sale" is an existing home under contract to sell, but not yet closed.

The Nationwide Pending Home Sales figures are up for the fifth time in 6 months. The December reading is now its highest since the federal home buyer tax credit's April 2010 contract deadline, and the figure is well north of the Pending Home Sales Index 3-year average.

Coupling this data with December's strong Existing Homes Sales report (+12%) and its strong New Home Sales report (+17%), it's clear that the housing market has past its trough and is in Recovery Mode.

December Pending Home SalesEven consumer confidence is at an 8-month high.

On a regional basis, December's Pending Home Sales Index varied as compared against November. The South region led the way, and the West region lagged.

  • Northeast Region: +1.8%
  • Midwest Region : +8.0%
  • South Region : +11.5%
  • West Region : -13.2% (Don't look at the Western Region figures as a negative sign, the economy has turned - the time to buy a home is RIGHT NOW!)

Home buyers in Idaho would do well to study last month's Pending Home Sales Index. It offers clues of what to expect during the spring buying season. For example, according to the National Association of REALTORS®, 80 percent of homes under contract close within 60 days.

Therefore, we can look at the December Pending Home Sales Index and project, with a high level of confidence, that home sales will be higher throughout February and March on a units-basis.

Furthermore, because the Existing Home Sales and New Home Sales reports show that housing stock is falling nationwide, spring buyers in Boise will notice find more competition for the available housing stock. As the Supply-and-Demand curve shifts towards sellers, home prices rise.

In other words, as the year progresses, home prices are expected to rise, as are mortgage rates. This one-two combination will impact home affordability negatively. And the higher that mortgage rates go, the worse the damage.

Your home-buying dollar won't go as far in in the second half of 2011 as it will right now. So if you have plans to buy a home in 2011, consider moving up your time-frame.

Benchmark Mortgage Boise Idaho

 

 

 

 

Call us with any questions you have relating to residential mortgages (208) 287-1717, we are always very happy to help. We specialize in home loans for first time home buyers, move up buyers, second home purchases, and resort lending. The loan products available to my clients include FHA, IHFA, VA, Conforming Conventional, Jumbo and Super Jumbo Portfolio.

Our primary markets are Ada County (Boise, Eagle, Meridian, Kuna, Star), Canyon County (Nampa, Caldwell, Middleton), and Valley County (Cascade, Donnelly. Tamarack, McCall).

2 commentsDean Tucker (Mortgage Banker) • February 01 2011 02:17PM

Fantastic!! New Home Sales Reach 8-Month High

Sales of new homes rose sharply in December, posting a 17.5 percent gain from the month prior.

According to the Department of Housing and Urban Development, New Home Sales climbed to 329,000 in December, besting November by close to 50,000 units on a seasonally-adjusted annual basis.

New Home Supply December 2010Last month's reading is an 8-month high for New Home Sales, and the latest in a series of signals that housing is improving in Meridian and around the country.

Note that December's Existing Homes Sales and Building Permits reports also showed marked gains last month, climbing 12 percent and 6 percent, respectively.

Furthermore, an interesting pattern is emerging in the price points of home sales. The highest levels of relative growth are occurring within the "move-up buyer" segments. Entry-level price points are lagging the market, as a whole.

December's New Home Sales data breaks down by price point as follows:

  • Homes under $200,000 : 36% of the market (-9% from November)
  • Homes between $200,000-$299,999 : 32% of the market (+7% from November)
  • Homes between $300,000-$499,999 : 27% of the market (+7% from November)

Luxury homes accounted for less than 5% of the newly-built home market, suggesting that Idaho homeowners are either not "buying new" as frequently, or are choosing to renovate their existing properties instead.

The 2010 housing market finished on a tear, and that momentum is carrying forward into 2011. Expect the spring season to show strongly, putting pressure on home prices to rise.

Coupled with rising mortgage rates, the long-term cost of homeownership is unlikely to be as low as it is today. 

Benchmark Mortgage Boise Idaho

 

 

 

 

Call us with any questions you have relating to residential mortgages (208) 287-1717, we are always very happy to help. We specialize in home loans for first time home buyers, move up buyers, second home purchases, and resort lending. The loan products available to my clients include FHA, IHFA, VA, Conforming Conventional, Jumbo and Super Jumbo Portfolio.

Our primary markets are Ada County (Boise, Eagle, Meridian, Kuna, Star), Canyon County (Nampa, Caldwell, Middleton), and Valley County (Cascade, Donnelly. Tamarack, McCall).

0 commentsDean Tucker (Mortgage Banker) • January 28 2011 12:54PM