November 20, 2008
All markets are different. During the next few years, some housing markets will turn around faster than others. How do you know when your particular market has reached its bottom? If you wait until others pick over the great deals, you'll miss the bottom.
Keep a track of how many properties are listed from month to month. Once you start to see a reduction in inventory then that may mean that buyers are starting to buy. There could be two reasons whey inventory is reducing – overpriced homes may be taken off the market and sales volume could be picking up. You can find out this information from your local real estate agent.
Keep reading national and local newspapers. If your local media reporters are now starting to interview experts in your market and asking questions like, “Have we reached the bottom?” then that might be a sign that there may be a shift.
Talk to your friends and co-workers. How are they feeling about your local economy and housing prices? Are they more optimistic now than they were 3 months ago, or even last month?
Consumer confidence will be a big part in the housing market turning around.
Be on the lookout for mortgage interest rates stabilizing and mortgage companies start to ease lending restrictions.
One of the biggest indicators is when prices have stopped dropping. The secret is to buy before they start to inch back up again!
I’m not suggesting that you wait till the absolute bottom of your market to buy. You have to look at a home as a place to live, not an investment. Only you can determine what an affordable monthly payment is relative to the value of the home you are purchasing. There are individual homes for sale that can be bought at the bottom of your market, even if homes in general have not reached that mark.
Talk to a trusted real estate agent – we can help!
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Local Information for Boise, ID
Latitude: 43.613739 -- Longitude: -116.237651
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ZIP Codes for Boise, Idaho
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83701 
83702 
83703 
83704 
83705 
83706 
83707 
83708 
83709 
83711 
83712 
83713 
83714 
83715 
83716 
83717 
83719 
83720 
83721 
83722 
83724 
83725 
83726 
83727 
83728 
83729 
83730 
83731 
83732 
83733 
83735 
83756 
83757 
83799 
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Area Code for Boise, Idaho
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208
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Time zone for Boise, Idaho
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MST
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Other Area Cities:
Eagle, ID
Meridian, ID
Garden City, ID
Boise, ID
Nampa, ID
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Numbering about 15,000, Boise's Basque community is the largest Basque community in the United States and the third largest in the world outside Argentina and the Basque Country in Spain and France [6]. A large Basque festival known as Jaialdi is held once every five years (next in 2010). Downtown Boise features a vibrant section known as the "Basque Block". Boise's mayor, David H. Bieter is of Basque descent.
Boise is also a regional hub for jazz and theater. The Gene Harris Jazz Festival is hosted in Boise each spring. The city is also home to a number of museums, including the Boise Art Museum, Idaho Historical Museum, the Basque Museum and Cultural Center, Idaho Black History Museum and the Discovery Center of Idaho. Several theater groups operate in the city, including the Idaho Shakespeare Festival. Boise Little Theatre and the Boise Contemporary Theater among others. -- Source: Wikipedia.com
Idaho 2000 Census Population Profile Map
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Boise |
Idaho |
United States |
|---|
| Population |
185,787 |
1,293,953 |
281,421,906 |
|---|
| Median age |
32.8 |
33.2 |
35.3 |
|---|
| Median age for Male |
31.7 |
32.2 |
34 |
|---|
| Median age for Female |
34 |
34.2 |
36.5 |
|---|
| Households |
74,438 |
469,645 |
105,480,101 |
|---|
| Household population |
181,774 |
1,262,457 |
273,643,273 |
|---|
| Average household size |
2.44 |
2.69 |
2.59 |
|---|
| Families |
46,493 |
335,588 |
71,787,347 |
|---|
| Average family size |
3.03 |
3.17 |
3.14 |
|---|
| Housing units |
77,850 |
527,824 |
115,904,641 |
|---|
| Occupied units |
74,438 |
469,645 |
105,480,101 |
|---|
| Vacant units |
3,412 |
58,179 |
10,424,540 |
|---|
Visit US Census
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The category for this RePage is Real Estate.
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Jeff Christianson
RE/MAX Capital City
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