Eagle

The North End

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What I enjoy the most about being a Real Estate Agent is that it is never boring! No two clients or transactions are ever the same and that holds true for Real Estate Markets as well. Over my 15+ years as a Realtor here in the Treasure Valley I have seen our Real Estate market swing from one extreme to the other. The one truth that you can rely on is that change is inevitable and like a pendulum, Real Estate markets never rest in one place, not for very long anyway.

The 2020 Real Market is in the books and from a statistical stand point it was a record shattering year. The median price for single family homes in Ada County rose by as much as 17% and Canyon County saw a 24% increase in median home price for single-family homes. The most common explanation for this dramatic rise in home values in recent years has been a lack of inventory. However, a cursory analysis of total single family home sales in Ada and Canyon County actually reveals an increase in the total number of homes sold in 2020 over 2019. So, it’s not a so much a supply issue but an increase in demand for the available inventory that is driving appreciation in the Treasure Valley.

The result of this demand has led to a very strong seller’s market. While this is great news for those planning to sell a home in the coming year, don’t be fooled into thinking that it will be easy to sell your home. There are still a few things that sellers should be aware of. In our current market, competition for homes has become fierce. Buyers are going to unusual lengths to beat out competing offers. Waiving Inspection contingency and/or offers to waive the appraisal contingency or, bridge the difference between agreed upon purchase price and appraised value, are more common than ever. Release of earnest money, lease back agreements and a variety of other strategies are being employed by agents in an attempt to move their clients offer to the top of the heap.

In an unbalanced market where, creative strategies are being employed, it is more important than ever to have a professional Real Estate Agent on your side. Evaluating multiple offers (I have seen as many as 30 offers submitted in a single weekend), understanding the nuances and pitfalls of each individual offer, properly vetting prospective buyers, and effectively communicating all this information to sellers requires an experienced Real Estate professional.

You probably would not jump into shark infested waters without protection. In our current real estate market, you should think of your Realtor like a shark cage. Protecting you from the mayhem while you enjoy feeding frenzy.


Bob Poole
208-870-6931
bpoole@atova.com

Atova, Inc.
607 E. State
Eagle, ID 83616
Phone: 208-939-5151
Fax: 208-939-5152
Email: info@IdahoRealEstate.com

In Idaho things are different. People are friendly, the streets are safe and life just seems to move a little bit slower. If you already live in the Boise area please stop by and say hello. We would enjoy hearing from you and we would enjoy being of service! If you don't yet live in Idaho, what are you waiting for? Now just might be the right time to make the move. We are professional and trustworthy real estate agents servicing the greater Boise Idaho area and beyond. Whether you are interested in new homes in the city, a cabin by the lake or a maintenance free downtown Boise condo, our agents are standing by to serve you. Call us today and let us know what we can do to help!