Boise's Hottest Summer Housing Market Trends!
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- Опубликовано: 1 авг 2024
- Boise's Hottest Summer Housing Market Trends!
Summer is in full force in Boise, Idaho, and the Boise Summer Housing Market is moving along, however, there are some interesting Boise Summer Housing Market Trends that are showing up! These Boise Summer Housing Market Trends are effected by many things, such as rising interest rates and low housing inventory, so we will discuss what Boise Summer Housing Market trends I am seeing now. If you are living in Boise Idaho and considering selling a house in Boise Idaho, or you are thinking of moving to Boise Idaho, you'll want to keep up on the Boise Summer Housing Market trends!
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An overview of the Boise Summer Housing Market Trends - what about in your housing market? (If it's not in the Boise area). And if you are in the Boise area, what are your questions about buying or selling your home right now?
Can you please tell me how to get the map you have hanging behind you?
I got it on Etsy a couple of years ago! I don’t remember who was the seller..I just searched for Boise wall map on canvas on Etsy!
That was an interesting video. Were your comments focused on the resale market only or do they apply to the new construction market as well? 🤔
Mostly the resale market - I should probably make a separate video for the new construction market as they are not parallel like they were in 2020-2021 although there are a lot of similarities..So the single story new construction homes are still the king of the market, and especially single story homes under $500k...homes from builders like CBH, Hubble, and Hayden are moving along quite well if they are single story and under $450k. For a little bit last month, Hayden had a couple of communities with waiting lists again on those homes under $450k. I am not sure if they do as of today. Toll Brothers is moving along, but with incentives and at a much slower pace than 2020-2021, but they are not stagnant. The biggest issue with new build jobs from ground up is still the uncertainty in where interest rates will be when the home is done, so most builders are still offering incentives to try to overcome that, but not all are. Most have just slowed down a lot, and in that slowing down, it lessens inventory, which keeps prices up. Other builders that are "higher end" than Toll, like James Clyde, their spec homes are still selling, but again, single story, and they aren't flying off the shelves, but they aren't sitting for months either. But builders like Tresidio, if they are offering building from the ground up, that is still going much slower than the past 2 years..but more like our normal pre pandemic pace for "ground up" build jobs. But those 2 story homes with the primary upstairs..even in new construction, those are in much, much less demand.
@@SummerAstonRealEstate Thank you for answering my question, Summer. We like the single level Toll Brothers homes at around 2,000 sq. ft. What kind of incentives do they offer for all cash buyers? Will they do something on the price or are they just giving some upgrades and about how much are the upgrades worth?
@@audiophileman7047 It depends on the community and on the week and how much they need to meet sales quoats for the week. On "quick move in homes", essentially their spec homes, they don't offer incentives other than what we can negotiate at time of contract. For cash buyers, it always is just a price reduction. For build jobs, they have had times where the incentives are very specific..like free rv garage or no lot premium, etc.. and other times where they are more open ended, like $30k to use any way you want, towards closing costs, design upgrades, price reduction, combination of that, etc.. So as a cash buyer with a build job, you would still get whatever incentive the community you were purchasing in was offering, you just would not use it for rate buy down and probably not for closing costs as those are quite low for cash buyers. You would use it for design upgrades or price off the top...sometimes, because they want to keep their comps high for people building homes, they will give you a "credit back" as a cash buyer so that they can still say they sold the house for $650k, but then you get "credited back" $30k at closing, so you bring $30k less to the closing table. It all comes out in the wash for the cash buyer, so that doesn't make a big difference, but they prefer to do that instead of selling you the house for $620k which lowers the comps for other people building who need appraisals to come in well.
@@SummerAstonRealEstate Thank you! That wasn't just a very informative, it was honest. Would you happen to know how long it takes to build a Toll Brothers home and how soon a "quick move-in home" is ready to move in?
@@audiophileman7047 The build jobs are at about 8-10 months right now, from time of contract until move in. The "quick move ins" just depend on the individual house. Sometimes they list quick move ins before they begin building but after they've pulled permits, and other times they list them when they are closer to completion. More often than not, they list them right before they pull permits, but no one tends to buy the "quick move ins" until they are very close to completion, or completed. that is because it it's not built yet, most people would rather get the incentives and choose their own design options..but of course if the house is actually almost complete, then that saves someone a lot of time if they don't want to wait for a build job. the gist of the quick move ins is that all the upgrades and design choices have already been made, as well as which floor plan on which lot. They do save time and can save $ but you get what you get.