Data show home sale rebound slow to hit Idaho

Repost of an Article from The Salt Lake Tribune on 6/5/2011

BOISE, Idaho • Idaho home prices in April were down 15.2 percent from the same month a year ago, real-estate data company CoreLogic Inc. says.


CoreLogic said that’s more than twice the national decline of 7.5 percent. Excluding distressed properties, the price decline in Idaho was 9.5 percent.


“You have to include the distressed sales,” said Brian Greber, director of the Center for Business Research and Economic Development at Boise State University. “If you exclude them, you’re just fooling yourself.”


The properties, often in need of repair, typically sell at a discount, weakening prices for other types of homes.


He said that in southwest Idaho, housing values declined 14.21 percent in April from the previous year, or 8.35 percent not counting distressed properties.


The Intermountain Multiple Listing Service said 63 percent of home sales in April in southwest Idaho, 560 of 885 transactions, were distressed properties.


He said some sales were also to people who sold homes in other states and moved to Idaho.


“Until people can sell a home elsewhere at a reasonable value, Idaho is not going to see that kind of in-migration because people will have no way of moving a family or business here,” he said.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor

Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan!
Click Here to Pre-Qualify for a Loan Online!

Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com