Current Trends in Idaho Real Estate

Boise and most of Idaho is changing and not necessarily for the better. I'm a native Idahoan and so is Kathy. I was born in Caldwell, grew up in Gooding, moved to Boise in 1971 to go to BSU. Became a Realtor at 22 and Broker at 25.

 

I talk to agents all over this state and what is happening in the Treasure Valley is happening statewide. I also have colleagues in Arizona, Texas and Florida where the same insanity is occurring with real estate values in those states.

 

SELLER'S…BEWARE! While it is tempting to sell you property at all-time record prices, make sure you have a place to move to, because replacing your current home is going to be very difficult and will cost you a premium.

 

Out of state cash buyers are flooding the Treasure Valley (Boise Metro) primarily due to amazing Lifestyle Rankings. If you try to buy a home contingent on yours selling (slim change). If you are trying to buy a home and finance it, even with a loan approval letter, good luck. The cash buyers with trump your offer.

 

It has caused homes to often get 5 or more offers for more than the listed prices. Two agents told me that their buyers submitted offers for six figures above the listed price on high end homes and still were unable to obtain the homes for their buyers, due to higher cash bidders.

 

There does not seem to be any homes any longer that resembles an affordable starter home for young people. Homes are now beyond the reach of many that earn regular wages.

 

Traffic issues are the worst EVER. Backed up traffic often for miles on the freeways. Places I have gone hunting and camping for years are now full of out of stater's who are discovering Idaho.

 

I have been through 3 recessions and watched values tumble. The market ALWAYS adjusts. It is inevitable that another recession will arrive and adjust prices back to reality. I'm 69 now and it looks like Idaho will never be the same. Feels like I have lost something very precious that I am going to miss.

 

The folks moving in want the Idaho lifestyle, but the first thing they want to do is change the politics and policies to mirror those of in the states they are fleeing.

 

Change is inevitable, but it is hard to watch a state and a lifestyle you love, slowly fade into the sunset, like so many other things from our past.