Where are the deals??

Where are the deals??

They are almost gone.

Twenty-four months ago the market was so buried in inventory that people could literally pick a neighborhood, wander through it, choose a home to their liking and be fairly confident that the home purchased was a great deal.  Those days look to be gone and it all seemed to happen in the blink of an eye.  In 2011 investors caught wind of the opportunity and swooped in, buying up huge portions of the distressed inventory leaving little in their path.

There are quality homes at low prices still out there, but the market is tightening quickly as demand rises.  According to the basic principles of economics:  increase in demand = increase in prices.  We have already witnessed the beginning of this change in the market.  The “steals” are selling for more than list price and the great deals are as competitive as ever.  If you are still waiting for the market to “hit bottom” then you may have missed it.  I can’t say with 100% certainty that the days of decline are behind us yet all statistics show that the market is currently gaining an enormous amount of steam.

Now is the time to act!  Call me today to begin your search:  208-869-3469

Below is a link to an article which provides additional information:

CNN Money: “Home Prices at Lowest Point in 10  Years”

AMAZING HUD HOME FOR SALE!

HUD HOME FOR SALE!

531 S State Street,  Nampa

Hurry, deals like this won’t be around for long!  Containing 3 bedrooms, 2 bathrooms and an upstairs bonus room, this well-kept home contains nearly 1800 square feet.    Sitting on over ½ acre (.6 acres), this HUD home for sale is located on a private lane & backs to Centennial Elementary School. The exterior encompasses a circle driveway, mature landscaping, garden space, RV parking with double gates & low maintenance vinyl siding featuring stone accents. .The interior of this HUD home for sale contains a hardwood entry, fireplace, crown molding, an oversized kitchen pantry, wood wrapped windows, rounded corners, and a substantial upstairs bonus room. The master bathroom holds a garden tub along with a walk-in closet and has dual vanities.  Call today for more information!

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $110,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $866  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=43898673 to view detailed information and additional photos of this HUD home for sale.

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

HUD HOME FOR SALE!

HUD HOME FOR SALE!

914 Sapphire Court,  Nampa

Wow, what a find!  Located at the back of a quiet cul-de-sac, this Nampa HUD home for sale has minimal street traffic.  The interior is well kept and contains 3 bedrooms, 2 bathrooms and 1465 square feet.  A refrigerator, microwave, water softener & oven/range are included.    The 3rd bedroom is adjacent to the oversized 2 car garage and encompasses its own private entrance/exit—perfect for guests or those needing privacy. The master suite of this Nampa HUD home for sale is over sized and holds a substantial walk-in closet.  Situated within walking distance of medical facilities and the rec center. Won’t last long!

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $68,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $515  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=43594358 to view detailed information and additional photos of this HUD home for sale.

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

Mortgage rates move to another to record low!

Mortgage rates move to another to record low!

Creating a target for those wanting to refinance their homes or purchase, the average 30-year fixed rate mortgage fell to the lowest level since mortgage rates have been tracked.  Can rates even get any lower?  Gosh, it’s like “free” money to borrow.

On Thursday the 3rd of February, the average 30 year fixed rate mortgage hit 3.87%–down nearly .20% from the week before.  This is under the previous record set at 3.88% 14 days ago.

15 year fixed rate mortgages continue to be appealing at 3.14% which is also a record low for this type of financing option.

The 10-year Treasury note is an indicator of mortgage rates and fell to 1.9% this week.

Low mortgage rates have most certainly contributed to the slight improvement in the housing market.  However, many homeowners remain underwater and unable to refinance into lower rates.  The pipeline of foreclosed upon homes continue to be substantial—placing unfavorable pressure on housing prices.  Also, the lackluster unemployment numbers and minimal wage increases continue to make it difficult for people to qualify for home loans or refinances.  Many are unwilling to place their hard earned money into a home that some fear could lose even more value over the next 3-5 years.

Sales of already built and previously occupied homes were dismal last year even though better than the previous; new home construction was the worst on record.  Low interest rates have had minimal impact on the construction of homes yet builders are hopeful that the record low rates along with consumer confidence may spur higher demand.

What’s your opinion on the housing market for the year of 2012?  Me?  I’m hopeful and have been witnessing the current inventory “flying off of the shelves” which is a great indicator that our local market is in the midst of a rebound.