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

I was sitting down this morning and trying to think of a topic to write on.  I have posted really good values in our area and homes listed at the smallest per square foot pricing but today I thought I would search out and locate the most expensive per square foot listing in our MLS.  I thought, well that it would be a high-end condo or some other type of high-end construction, but it turned out to be a listing in Ada County, in the city of Meridian, Idaho,

The listing shows a 1,000 square foot manufactured home on a foundation, but also includes several buildings made to look like the old west, like the ones shown on the left.

It sets on 60-acres and has a 2.5 acre pond that is 24 feet deep.  They have held weddings, corporate team building events and other social gatherings there.

It has a large business building in the shape of a barn that is almost 2,700 square feet and other outbuildings in addition to the mock town.

They are having a Broker's Open on August 11, 2011.

I was just intrigued by the price of $1,900.00 per square foot but then realized that the asking price of $1,900,000 was placed strickly against the one residential home on site and not on the entire 60 acres, the lake, the make belive western town or the other outbuildings.

I am still interested in what the most expensive home per square foot is in Ada County (Boise, Meridian, Eagle, Star and Kuna, Idaho).  When I find it I will post another blog.

In the meantime, if you would like to compare notes on real estate, I have been a full-time Realtor in this area since March 1, 1995 and I have assisted over 1,000 families to buy or sell their homes here.

Have a great day!

Listing is courtesy of Serenity Real Estate Group.

I set out to find the best buys in Meridian, Idaho this morning.  When you try to find the best buys, do you look for the most square footage for the dollar, or what?  We tried to look at all homes that were listed for less than $50.00 per square foot.

Then, we looked at those homes to see if they were really a good value. 

We also looked for homes with at least 3 bedrooms, 2 baths, 1,200 square feet, and a 2-car garage.

Then, we looked at the probablity for a quick close as an investor wants to see his/her money turn.

We found eleven and reduced that number by the ones that were short sales since we don't know when those would close or if they would close for the listed price.

We came up with six homes that are either bank-owned, new construction or in-between resale homes that have exceptional per square foot value.

If you would like a copy of that list for the City of Meridian, simply send me an e-mail to Tim@kw.com and ask for Best Buys in Meridian, Idaho for the week of January 15, 2011.

The housing market continues to expand, and surprise. According to the National Association of REALTORS®, November's Pending Home Sales Index gained 3 percent from October. A "pending home sale" is a home under contract but not yet closed. The index is now at its highest point since April 2010's federal tax credit contract expiration deadline.

If the tax credit really did "borrow" sales from the summer months, as has been theorized, housing has rebuilt its foundation. 

We know this because, of all the housing data available to Eagle  homeowners and home buyers, the Pending Home Sales Index stands apart as a forward-looking report -- its designed purpose as described in its methodology.

Because 80% of all homes under contract close within 60 days, and a statistically significant share of the rest close within months 3 and 4, the Pending Home Sales Index is an excellent predictor of future Existing Home Sales data.

This is in contrast to the New Home Sales data and Case-Shiller Index, as examples, which both describe the real estate market as it existed two months in the past. The Pending Home Sales Index reports on housing as it exists right now. We should expect January's Existing Home Sales report, therefore, to show marked strength, consistent with a housing market recovery.

The downside of the Pending Home Sales Index is that it's a national report and real estate is not sold nationally -- it's sold locally. To get a feel for your home market and how it's faring, talk to a licensed real estate agent with access to local home sale data. 

If pending sales data is available, so much the better. Forward-looking figures can be more helpful than data that's already old.

Sales of previously occupied homes surprised economists by beating economic and market estimates.  According to the National Association of Realtors, June Existing Home Sales beat estimates by 190,000 units.   The annualized rate came in at 5.37 million units vs. consensus estimates of only 5.18 million units.

This is the first reading since the housing tax credit has expired, so it is a positive sign that we surprised to the upside.  The month-over-month numbers for June were actually down 5.1% but the year-over-year numbers showed an increase of 9%!