According to a newsletter from Guild Mortgage, “April Pending Home Sales came in UP 6.7%, rising for the third straight month and a 3.2% improvement over a year ago! The National Association of Realtors housing affordability index is near a record high and mortgage rates, while creeping up last week, are still at historically low levels. In fact, applications for purchase loans were UP 4.3% last week, according to the Mortgage Banker’s Association.”
And then we hear how we need to prepare for the next wave of foreclosures from the Alt-A loan debacle. And see the page upon page of “Notice Of Default” listings in the local newspaper. So what’s the reality?
My business has really seen a dramatic increase in the past 3-4 weeks. Lots of out of state buyers looking to move to the Boise area. First time homebuyers trying to cash in on the tax incentive offered by the Federal Government. Multiple offers on just about every home that I’ve submitted a offer on – some times as many as 6 offers. Talking to other agents in the area seems to confirm the fact that buyers are no longer on the sidelines.
Has Boise Real Estate turned the corner?
According to a newsletter from Guild Mortgage, “April Pending Home Sales came in UP 6.7%, rising for the third straight month and a 3.2% improvement over a year ago! The National Association of Realtors housing affordability index is near a record high and mortgage rates, while creeping up last week, are still at historically low levels. In fact, applications for purchase loans were UP 4.3% last week, according to the Mortgage Banker’s Association.”
And then we hear how we need to prepare for the next wave of foreclosures from the Alt-A loan debacle. And see the page upon page of “Notice Of Default” listings in the local newspaper. So what’s the reality?
My business has really seen a dramatic increase in the past 3-4 weeks. Lots of out of state buyers looking to move to the Boise area. First time homebuyers trying to cash in on the tax incentive offered by the Federal Government. Multiple offers on just about every home that I’ve submitted a offer on – some times as many as 6 offers. Talking to other agents in the area seems to confirm the fact that buyers are no longer on the sidelines.