Brecht Properties, LLC's Bloghttp://www.brechtproperties.com/blogMeridian ID real estate market news provided by Silvercreek Realty GroupTue, 17 May 2011 17:04:00 GMTThe Treasure Valley Real Estate MarketMarkets are usually heavily influenced by supply and demand.  A low supply and high demand usually means a higher price.  I have heard recently that the population of the Treasure Valley has been growing significantly throughout this turmoil.  Also, the supply of housing is dropping. (Ada County's April 2011 inventory of single family houses was 2,625 which is 26% less than the April 2010 inventory.)  (Canyon County's April 2011 inventory of single family houses was 1,305, which is 31% less than the April 2010 inventory.) 

Why aren't prices rising?  The answer is in the number of foreclosure properties (short sales or bank owned (REO)) on the market.  To summarize, of the 565 single family properties that sold in Ada County in April 2011, 318 or 56% were foreclosure properties.  In Canyon County, of the 320 single family properties that sold, 241 or 75% were foreclosure properties. 

This is good for buyers and extra good for buyers given the low interest rates.  However, the forces of supply and demand will not be held off forever.  Once we have worked through the foreclosure properties, there is a good basis for a healthy market with something we have not seen in a while: appreciation.

]]>http://www.brechtproperties.com/Blog/The-Treasure-Valley-Real-Estate-Markethttp://www.brechtproperties.com/Blog/The-Treasure-Valley-Real-Estate-MarketTue, 17 May 2011 17:04:00 GMTSpring 2011: What a Time to Buy Real Estate!There is some talk about doing away with Freddie Mac & Fannie Mae and the possibility of inflation.  If these come true, the impact would most likely be increased down payment requirements and interest rates.  Because of this, this spring should be an active market for real estate.   Buyers (first time and move up) will want to take advantage of the low interest rates and down payment requirements before one or both of the talking points above become reality.  My listing inventory is already being sold down.  Let us know if we can help you with your real estate needs.

]]>http://www.brechtproperties.com/Blog/Spring-2011-What-a-Time-to-Buy-Real-Estatehttp://www.brechtproperties.com/Blog/Spring-2011-What-a-Time-to-Buy-Real-EstateWed, 27 Apr 2011 01:00:00 GMTShould I Buy a Home Now?I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

]]>http://www.brechtproperties.com/Blog/Should-I-Buy-A-Home-Nowhttp://www.brechtproperties.com/Blog/Should-I-Buy-A-Home-NowTue, 04 Nov 2008 11:08:00 GMT