CANYON COUNTY Idaho Weekly Real Estate Home Sales Update

I currently send the weekly Real Estate numbers out to those who subscribe to my FREE weekly newsletter and now will be providing those numbers right here as well.  If you would like to receive the newsletter, completely customized for you with your neighborhood/ subdivison stats, you can sign up on the link at the right, or just EMAIL ME.

CANYON COUNTY IDAHO REAL ESTATE UPDATE- June 1-7, 2009  (single family homes)

Available: 1,840
Under Contract / Pending: 420
SOLD: 37

---

Short Sales: 566
In Foreclosure Proceedings: 123
Bank-Owned / Foreclosures (REO’s): 176

ADA COUNTY weekly numbers

Boise, Idaho weekly numbers

Merdian, Idaho weekly numbers

Eagle, Idaho weekly numbers

Information provided by: Intermountain MLS. Deemed reliable, not guaranteed.

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Eagle Idaho Weekly Real Estate Home Sales Update

EAGLE IDAHO REAL ESTATE UPDATE- June 1-7, 2009

Available: 329
Under Contract / Pending: 59
SOLD: 13

---

Short Sales: 78
In Foreclosure Proceedings: 16
Bank-Owned / Foreclosures (REO’s): 20

ADA COUNTY weekly numbers

Boise, Idaho weekly numbers

Merdian, Idaho weekly numbers

Information provided by: Intermountain MLS. Deemed reliable, not guaranteed.

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Boise Idaho Weekly Real Estate Home Sales Update

Here are this weeks Boise Single Family Home Real Estate numbers.

Because we’re all curious about the homes for sale in our own neighborhood, I also provide a FREE weekly e-newsletter with your neighborhood/ subdivision stats.  You can either email me or just click on the link on the right column to sign up!

BOISE IDAHO REAL ESTATE UPDATE- June 1-7, 2009

Available:  2,008
Under Contract / Pending:  464
SOLD:  51

---

Short Sales:  398
In Foreclosure Proceedings:  99
Bank-Owned / Foreclosures (REO’s):  77

ADA COUNTY weekly numbers

Merdian, Idaho weekly numbers

Information provided by: Intermountain MLS. Deemed reliable, not guaranteed.

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Meridian Idaho Weekly Real Estate Home Sales Update

Meridian has some of Ada Counties best values.  Here is this weeks Real Estate Update.

Curious about the homes for sale in your  neighborhood/ subdivision?  Email me with the name of your community, or just click on the newsletter link in the right column to receive my e-newsletter with your neighborhood specific stats for FREE!

Click here to view all of ADA County weekly numbers.

MERIDIAN IDAHO REAL ESTATE UPDATE- June 1-7, 2009

Available:  1,035
Under Contract / Pending:  316
SOLD:  41

---

Short Sales:  266
In Foreclosure Proceedings:  66
Bank-Owned / Foreclosures (REO’s):  46

Information provided by: Intermountain MLS. Deemed reliable, not guaranteed.

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Boise Idaho- ADA COUNTY Weekly Real Estate Home Sales Update

It’s always interesting to see exactly what the Treasure Valley Real Estate Market is really doing from week to week.  I always include the numbers in my weekly e-newsletter, but thought it might be fun to provide those numbers here as well.

These numbers will reflect SINGLE FAMILY HOMES.  I’ll also do additional posts weekly to provide the numbers for Canyon County, as well as individual entries for Boise, Eagle, Meridian, Kuna and Nampa Idaho.

Many of our clients also enjoy receiving our newsletter that specifically gives them their neighborhood/ subdivision statistics as well.  We always want to know what’s happening in our backyard, right?!  If this is something you’re interested in,  just subscribe by clicking the link on the right hand side of this page or EMAIL ME.

Without further ado, here are this weeks number:

ADA COUNTY REAL ESTATE UPDATE- June 1-7, 2009

Available:  3745
Under Contract / Pending:  947
SOLD:  110

---

Short Sales:  861
In Foreclosure Proceedings:  213
Bank-Owned / Foreclosures (REO’s):  152

Information provided by: Intermountain MLS.  Deemed reliable, not guaranteed.

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Weekly Lender Update for Boise Idaho & the Treasure Valley- Cheri Ure, The Mortgage Place

Interest Rate Update:

Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.15 percent with an average 0.7 point for the week ending March 5, 2009, up from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 6.03 percent.

The 15-year FRM this week averaged 4.72 percent with an average 0.7 point, up from last week when it averaged 4.68 percent. A year ago at this time, the 15-year FRM averaged 5.47 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.08 percent this week, with an average 0.6 point, up from last week when it averaged 5.06 percent. A year ago, the 5-year ARM averaged 5.34 percent.

One-year Treasury-indexed ARMs averaged 4.86 percent this week with an average 0.5 point, up from last week when it averaged 4.81 percent. At this time last year, the 1-year ARM averaged 4.94 percent.

Low mortgage rates, first-time buyer incentives boost April contracts, NAR says

Pending sales of existing homes rose for the third month in a row in April, boosted by record-low mortgage rates and special incentives for first-time buyers, a real estate trade group reported Tuesday.

The pending home sales index for April rose 6.7% after a 3.2% increase in March, the National Association of Realtors said. The index, based on sales contracts on existing homes, was 3.2% above April 2008. “This is yet another positive indication that the bottoming process is forming” in home sales, wrote Jennifer Lee, an economist for BMO Capital Markets. “Now if only prices would stabilize.”The NAR reports on sales of existing homes in a separate report once a transaction closes, usually six to eight weeks later. In April, existing-home sales rose 2.9% to a seasonally adjusted annual rate of 4.68 million, 3.5% below year-earlier sales rates. With mortgage rates hovering near all-time lows, housing affordability has improved, said Lawrence Yun, chief economist for the NAR. Yun expects existing-home sales to rise about 17% by the end of the year to a seasonally adjusted annual rate of 5.48 million. Sales of new homes, by contrast, are expected to fall another 12% to a 308,000 annual rate. “Since first-time buyers must finalize their purchase by Nov. 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers,” Yun said. The federal government is offering an $8,000 tax credit for first-time home buyers, which can be used for the down payment. Other incentives are being offered by state or local governments. Recently, first-time buyers have accounted for about half of sales, a much larger percentage than in normal markets. With a large number of owners underwater in their mortgage, many are not able to sell their home in order to buy a different house. About half the sales have been foreclosures or short sales. Pending home sales rose about 33% in the Northeast, and about 10% in the Midwest. Pending home sales were flat in the South and rose 2% in the West. “Given that most of the gains in sales were in the more stable Northeast and Midwest markets, it appears that foreclosed properties were less of a factor given that most of the foreclosures have been occurring in the West and the South.

Cheri Ure
The Mortgage Place
Phone: 208.794.0533
Email: cheri@themortgageplace.us

Talk Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Weekly Lender Update for Boise Idaho & the Treasure Valley- Cheri Ure, The Mortgage Place

Primary Mortgage Market Survey (PMMS) in which The 30-year fixed-rate mortgage averaged 4.86% for the week ending May 14, up from last week’s 4.84% average; it averaged 6.01% a year ago, Freddie Mac reported. Fifteen-year fixed-rate mortgages averaged 4.52% this week, up from 4.51% last week; the mortgage averaged 5.60% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.82%, down from 4.90% last week and 5.57% a year ago.

And 1-year Treasury-indexed ARMs averaged 4.71% this week, down from 4.78% last week and 5.18% a year ago.

Real Estate Outlook: Key Indicators Point Up

Week after week, the economic signs pointing to a recovery underway in the home

Now that’s not to say everything is improving in the economy overall, or even in housing for that matter. We all know that hundreds of thousands of jobs are still being lost every month across the U.S., and Federal Reserve Board chairman Ben Bernanke says the unemployment rate is likely to rise a little more before the economy digs itself out of recession later this year.

But for housing, most of the key indicators continue to point up. Here’s a quick rundown:

Pending home sales took a 3.2 percent jump last month — the second straight month of positive growth. These are signed home sale contracts that haven’t yet gone to closing, but are scheduled to do so in the next 60 to 90 days.

Mortgage applications for future home purchases also surged again, up five percent nationwide last month, according to the Mortgage Bankers Association. Rates are firming up in response to the rising demand for mortgage money. They rose last week on average to 4.8 percent for 30 year fixed rate loans and 4.6 percent for 15 year mortgages.

Those rates are still close to all-time record lows, but with more people jumping into the home buying market, they could easily go back over the five percent level in the coming weeks, say economists.

The affordability index also continues to hover near its all time best. According to the National Association of Home Builders, the median income American family, earning $61,000 a year, can now afford to buy a $290,000 home with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest, thanks to low financing rates.

The median priced home meanwhile goes for about $175,000.

Equally important, consumer psychology is turning positive on housing, something potentially huge for anyone looking to sell property. When the Gallup polling organization asked a national sample of Americans last month whether this is a “good time to buy a house,” 71 percent said “yes.” That’s an increase of 18 percent in a year, and the highest level in four years.

Cheri Ure
The Mortgage Place
Phone: 208.794.0533
Email: cheri@themortgageplace.us

Talk  Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

When will the Treasure Valley Buyers Market End?

It’s spring, almost summer.  The economists are actually talking about coming close to the “end of the recession” .   Interest rates are phenomenal- at all times lows even, but there’s also a lot of buzzing about them rising (see Jim Jubak’s video HERE).  Treasure Valley home sales are seeing the numbers increase week after week.

So where are we at in the Treasure Valley Real Estate World?  I always say that the old crystal ball is broken (it still is, by the way.)- BUT, something is definitely happening.

Everyday real estate conversations with everyday people have changed.  I remember when I was discussing the Boise housing market with folks in previous months and everyone I spoke with had a scowl. The market, in their eyes, flatly stunk.  But it’s different now.

People understand that although their home may have lost equity (as it more than likely did for many), that if they or someone they know is in the marketplace to actually PURCHASE, well then, they better hurry up.   And as for Sellers,  many of them are understanding that if they actually want to SELL their home in Boise or the Treasure Valley, then they’ve got to compete with the Short Sales and Bank Owned properties.  Price is the driving force in a “Buyers Market”, and by gosh, folks are getting it now.

We all watched it go up.
Up, up and up.
Then, BANG! We watched in disbelief as it took a crashing fall.  The climb back up that hill is definitely a steeper, more painful one,  however we have on our hiking shoes and we’re walking!  WE ARE WALKING!

I still hear from those people who are going to “wait it out for just a bit more”.  My advise to them:

Be careful what you wait for…

Even if pricing was to continue to decline, these marvelous rates we have today just may rise &  you could actually be shooting yourself in proverbial buyers  foot.

Here’s a quick scenario for you:

Today’s purchase price for the home of your dreams:   $200,000
and Today’s Interest Rate:                                 4.875%
Your typical 5% Down Payment:                   $10,000
Your Loan Amount:                                         $190,000
Your Monthly Investment (payment):  $1,005.50

Scenario #2:  So you want to wait to see how low prices will go- now your faced with a  possibility of the higher interest rate- we’ll call it 6.5% (by all means, still a great rate, right?):

You just knew they’d go down- good thing you waited (wasn’t it?)                                                                        :  $190,000
(based on a 5% drop from
today’s current pricing)
Your Interest Rate:   6.5%

(keep in mind, 6.5% is a good rate, rates
could possibly jump even higher- thus a
higher payment…)
Your typical 5% Down Payment::           $9,500
Loan Amount:                          $180,500

Monthly Investment (payment):      $1,100.88

So, that means you could possibly SAVE $135.38 or MORE per month by purchasing NOW!

Which scenario works better for you?

And what if …. prices don’t decrease another 5%… or rates go higher than 6.5%?

Hmmm….  Just a little Real Estate  food for thought.

Talk  Soon,

Heidi Griffith, Realtor
Realty Executives of Treasure Valley
208-401-5460

Email Heidi

Looking for Short Sale Information?

Visit IdahoShortSaleHelp.com

Featured Home of the Week- 2494 Brierfield Drive, Eagle, Idaho

Lexington Hills Living at its Finest…

• 2635 Sq. Ft.
• 4 Bedrooms
• 3 Baths
• Large Bonus Room/ Flex Space
• 3 Car Garage

This Charming four bedroom home is nestled quietly away from the hustle and bustle, yet minutes from shopping, dining and entertainment.

The Prestigious Community of Lexington Hills is located in Beautiful Eagle, Idaho, and offers its residents plenty of room to enjoy their beautiful neighborhood. Large, landscaped open spaces, waterways and ponds, along with beautiful walking paths are just a few of the reasons families call Lexington Hills “home”.

Large Living Spaces filled with wonderful natural light make this home perfect for entertaining!

Enjoy Holiday & Family Dining in this beautiful Formal Dining Space- with direct access to the kitchen for easy serving!

Welcoming Foyer

Vaulted Ceilings- adding height and drama

Family Room located directly off kitchen- perfect so that everyone can gather together!

Cozy Custom Fireplace with Granite Surround- perfect for those chilly nights!

This gorgeous home boasts a light and airy kitchen that includes granite counter tops , Designer Viking Oven/Range and Hood, stainless appliances & ample custom cabinetry that will delight any chef!

Granite top island with ample storage

Large Owners Suite

Beautiful Owners Suite Bath- complete with over sized soaking tub, granite counter tops, and custom stone/ tile inlay. The perfect spa-like retreat!

Large lower level basement Bonus Room/ Flex Space- complete with built-in desk & closet would also make an ideal 5th Bedroom!

Attention to Detail…

Nothing has been overlooked in this Beauty! Fabulous Touches have been included at every turn!

Wonderful Designer Paint Selections with Warm Accents

For Sale and Offered at Only $323,000!

2494 Brierfield Drive, Eagle Idaho, 83616

Location is EVERYTHING!

Driving Distances:

Seven Oaks Elementary: ……………………….    .1 mi.
Eagle Middle School……………………………….2.4 mi.
Eagle High School…………………………………..4.4 mi.
Winco Grocery………………………………………..1.7 mi.
Albertsons Grocery………………………………..2.0 mi.
Home Depot……………………………………………1.7 mi.
Boise Town Square Mall…………………………7.2 mi.
Walmart…………………………………………………3.3 mi.
Target…………………………………………………….3.7 mi.
Reel Theaters…………………………………………3.8 mi.
Eagle Public Library……………………………….1.5 mi.
St. Lukes Urgent Care……………………………..2.0 mi.
St Alphonsus Eagle 24 HR Emergency…….3.6 mi.
YMCA……………………………………………………..3.7 mi.
Eagle Hills Golf Course…………………………….. .7mi.
Boise River………………………………………………3.0 mi.
Eagle Island State Park……………………………4.2 mi.
Hewlett Packard……………………………………..3.5 mi.
Micron…………………………………………………..15.3 mi.
Airport…………………………………………………..15.7 mi.

Home is the sacred refuge of our life.

-Dryden

Talk Soon,

208.401.5460

Email: Heidi@TheGriffithAndKrausTeam.com

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com

Weekly Lender Update for Boise Idaho & the Treasure Valley- Cheri Ure, The Mortgage Place

Interest Rate Update:

Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.15 percent with an average 0.7 point for the week ending March 5, 2009, up from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 6.03 percent. The 15-year FRM this week averaged 4.72 percent with an average 0.7 point, up from last week when it averaged 4.68 percent. A year ago at this time, the 15-year FRM averaged 5.47 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.08 percent this week, with an average 0.6 point, up from last week when it averaged 5.06 percent. A year ago, the 5-year ARM averaged 5.34 percent. One-year Treasury-indexed ARMs averaged 4.86 percent this week with an average 0.5 point, up from last week when it averaged 4.81 percent. At this time last year, the 1-year ARM averaged 4.94 percent.

Washington, March 18, 2009

“The National Association of Realtors® applauds the Federal Reserve announcement today that it would purchase an additional $750 billion in Fannie Mae and Freddie Mac mortgage-backed securities and up to $300 billion in longer term Treasury securities. This is great news for American home buyers and homeowners because mortgage interest rates will continue to remain at historic lows.

“NAR has been advocating since last fall that the Fed be more active in buying mortgage-backed securities. We are excited that the Fed acted on this provision of the stimulus plan that we offered to the government in November.

“Greater numbers of home buyers will be able to purchase a home, and homeowners facing challenges will be able to refinance into better terms. We already are experiencing a great improvement in housing affordability due to historically low interest rates, and the Fed’s move will push affordability conditions to the best levels in 40 years. In addition, continued low rates will lessen foreclosure pressure and help stabilize home prices sooner, as more American buy homes and draw down inventory.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Cheri Ure
The Mortgage Place
Phone: 208.794.0533
Email: cheri@themortgageplace.us

Talk soon,

208.401.5460
Email: Heidi@TheGriffithAndKrausTeam.com

LOOKING FOR SHORT SALE INFO? Visit IdahoShortSaleHelp.com