Idaho Homes and Land: May 2012

Thursday, May 17, 2012

Home Prices Rise in Half of U.S. Cities as Markets Stabilize

By Prashant Gopal - May 9, 2012 10:13 AM MT
Bloomberg.com

Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized.
The median sales price increased from a year earlier in 74 of 146 metropolitan areas measured, the National Association of Realtors said in a report today. In the fourth quarter, only 29 areas had gains.

May 7 (Bloomberg) -- Michelle Meyer, a senior economist at Bank of America Merrill Lynch, talks about the U.S. economy and real estate market. She speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)
The U.S. housing market is showing signs of bottoming as improving employment and record-low mortgage rates boost demand while inventories of available properties tighten. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier, the Realtors said.

“The housing market is still depressed but it had a good quarter,” Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts, said in a telephone interview today. “We’re on the mend but it’s still something that will take two or three years before we’re back to normal.”

The national median existing single-family home price was $158,100 in the first quarter, down 0.4 percent from the first three months of 2011, according to the Realtors group.

The best-performing metro area was Cape Coral, Florida, where prices increased 28.1 percent from a year earlier. Prices rose 19 percent in Grand Rapids, Michigan; 16.9 percent in Palm Bay, Florida; and 16.6 percent in Erie, Pennsylvania.
Biggest Declines

Kingston, New York, had the biggest decline, with the median selling price tumbling 22 percent in the quarter. It was followed by Stamford, Connecticut, with an 18 percent decline; Mobile, Alabama, at 14.7 percent; and Atlanta at 12 percent.

The median selling price is influenced by the mix of homes on the market and probably was boosted by a smaller share of transactions involving distressed properties. Those homes, which sell at discounts, accounted for 32 percent of first-quarter sales, down from 38 percent a year earlier.
Prices are more volatile than normal because they are affected by the prevalence of distressed sales and “sudden upswings” in buyer interest in some areas, said Lawrence Yun, the group’s chief economist.

‘Broad Shortages’

“We have broad shortages of lower-priced homes in much of the country, with very tight supply in Western states for homes through the middle price ranges,” Yun said in the report. “This is good news for many sellers who wish to list now, or for those waiting for prices to improve.”

Sales of previously owned homes rose 5.3 percent in the first quarter from a year earlier, according to the report. Purchases climbed 11.7 percent in the Midwest, 6.6 percent in the Northeast, 4.1 percent in the South, and 1.4 percent in the West.

Fannie Mae, the nation’s biggest mortgage-finance company, today reported a $2.7 billion first-quarter profit after a $6.5 billion loss a year earlier, citing smaller declines in home prices as one of the reasons for improvement. The Washington- based company said that it won’t need Treasury Department aid to balance its books for the first time since it was seized by federal regulators in 2008.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

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Thursday, May 3, 2012

2012 Boise Idaho Parade of Homes- The Premier Boise Idaho Real Estate Home Show

Begining Saturday, May 5th to May 20th the Building Contractors Association of SW Idaho present the Boise Idaho Parade of Homes including forty brand new homes by Boise's leading home builders. This year, Boise home builders focus on larger homes with more amenities and premium design and interior finishes.

Boise, ID (PRWEB) May 03, 2012

The 2012 Boise Idaho Parade of Homes promises to be one of the most impressive home shows from Boise Idaho builders in years. Home buyers are asking more from builders than they have ever asked for. Trey Langford, Founder of Build Idaho, monitors new construction and the Boise Parade of Homes is an indicator that the Boise Idaho real estate market is recovering. "New Construction in Boise has been getting stronger since mid 2011 but the fact that there are 40 homes that are all fully loaded in the 2012 home show is a positive sign that local builders are seeing home buyers starting to buy new homes again. One interesting trend you will see in this years show is how custom these homes are. The homes I have seen so far have all had top of the line amenities and the latest interior and exterior designs. If people want to see what new homes have to offer as well as meeting local builders, The Boise Parade of Homes is an amazing opportunity"
This year there are 40 homes from Northeast Boise to Star, Idaho. Several of the homes are custom homes built for clients that will be available to tour and there will also be several new homes for sale including waterfront properties. These are not ordinary homes, these homes were built specifically for the Boise Parade of Homes to impress home buyers who are looking to buy a new home or for a Boise Idaho home builder.

The homes this year are loaded! Granite is now the standard in the kitchen so builders are installing the latest in interior and exterior designs and features in homes to impress home buyers. It does not stop there, check out the new communities these homes are in and you will also find the importance of lifestyle. Many communities include a community pool, walking paths and even a golf course. This is the premier Boise Idaho Real Estate Show for those in the industry and prospective home buyers.

One home to watch this year is named the Lake Crest built by Paradigm Construction Company. This home is a waterfront property built at Lakemoor in Eagle, Idaho. This home is on the lake with long views of the water. The French country design is for the couple or family who loves to entertain and features Billiard room, theater room, library and formal dining room off the great room with another bonus room up. This Parade home is 4 bedrooms, 3.5 baths, and over 4200 sq. ft. Oversize 3 car garage for all the toys. SubZero, Ascio, Wolf, and all of the names you expect from Paradigm Construction. Granite, hardwood, and all the detail for your eye. This home is worth your time to see.

For a complete list of Boise Idaho parade homes visit Build Idaho ( http://www.BuildIdaho.com ). Here you can find a printable list participating Boise Idaho Parade of Home Builders, interactive map displaying where the homes area and read comments left by visitors.

If you are searching for Boise Idaho Homes for Sale check out the Bose Idaho Parade of Homes May 5th throught the 20th. Homes are open 5pm to 8pm Sunday thru Friday and Weekends noon to 8pm.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.