About Ada County Homes

If you are looking for Boise Idaho Real Estate you have come to the right place. You can use my Idaho  Home Search to view all listed properties in the Intermountain region. If you would like to have all new listing that meet your preset criteria daily just sign into the Dream Home program or my automated home search. When you look under Tour Virtually you will find listed properties and tours of Treasure Valley area subdivisions. I hope you find my website helpful in your search for that perfect property and please do not hesitate to call or email if you have questions..

Buying a Home in a Buyer’s Market

When is the best time to buy a home? With many markets reporting an abundance of homes for sale, and interest rates remaining at near historic lows, now might be one of the best times in recent memory. While today’s real estate market does offer advantages to buyers, consumers still need to be savvy in order to get the best deal they can.

Watch Mortgage Rates. Pay attention to the mortgage rates and recognize that buying a new home will likely result in a change in your mortgage rates. How much? A monthly payment of a 30-year fixed 6.00 % mortgage rate on a 300,000 loan is $1,798.65 Principle and Interest. The monthly payment at today’s 4.75 rate is $1,564.94, representing a $233.71 decrease in your monthly house payment. Today’s home mortgage rates are at historic lows, if you are planning to purchase get preapproved for your home loan.

Shop Around. But Don’t Wait Too Long. The National Association of REALTORS reports that, on average, homes stay on the market for 7.5 months. The increased inventory gives homebuyers a great opportunity to compare homes that meet their needs. However, this does not mean that homebuyers should procrastinate. If you find a house you love, put in your bid and negotiate. Don’t provide an opportunity for another buyer to make an offer.

Do Not Try to Time the Market. When home prices are lower, it is very tempting for potential buyers to try to wait as long as possible in the hopes that prices will decline even further. This strategy can be detrimental because when there is high inventory, smart sellers price their homes properly – not according to past sales but according to current conditions – so their homes will sell in a timely fashion. Once a home is priced to what the current market conditions, buyers will make offers. If you are waiting for the very bottom in this buyers market you may miss it. Today’s prices may well be the bottom?

Finally Negotiate on the Incentives. Sellers eager to move their homes may offer you a variety of incentives such as cars, trips, and even credit card bill payment. If you accept an incentive, make sure it makes sense for you. Instead of having your bills paid, you may opt to have the seller renovate the master bathroom or install new flooring. Of course, you can always ask the seller to simply deduct the amount in question from the list price.

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