Boise is located in Ada County Idaho and includes other cities such as Eagle, Meridian, Star and Kuna. The average home price in July 2006 in Ada County was $279,391. The average home price in July 2007 has increased only 0.5% to $280,819.
Home prices have began to stabilize in Kuna and the majority of the Treasure Valley, so investors and homeowners have began to return to the local market. With the increase in buyers comes an increase in online homes search and the Kuna MLS Search will not disappoint.
The pace of home sales have began to show signs of improvement as well, as Kuna homes starts were up as well as existing home numbers. This improvement in the Kuna homes market illustrates how quickly the housing market can turn around, given that homes in Kuna were selling at near stagnant rates only a year prior.
Be aware that the 81 day average selling time is an average and to get your house sold in that amount of time your house better be in tip top shape and priced right. Home buyers are not reluctant to ask for closing costs, extended closing times, price reductions and other items that are an expense to the seller.
There are currently over 5,000 homes available on the market in Ada County. Last month approximately 650 homes sold. If we assume 650 houses sell each month, and no other houses are added to the market, there is a 7.5 month supply of houses on the market.
The buyer’s market may be coming to an end with the lender laws starting to take effect, but the federal government has enacted it’s own aggressive stimulation with the first time home buyer tax credits issued.
Despite the limited amount of time many homeowners are facing, given that many are facing traumatic events, especially in the financial realm of things, to sell their homes, many are still accomplishing this task. Short sales are giving way to REO’s and banks are simply refusing to accept less than what is owed forcing foreclosure for many homeowners.
The best option if you find yourself in a similar situation is to contact a local home sales professional to get your options lined out right away. Your local Realtor may have a way you can sell your home, save your credit and get on with your life in a way that you will appreciate for year! And with rent rates so reasonable in the Kuna area finding a new place to live isn’t difficult at all.
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