Spring buying season starts the day after Christmas in Boise, Idaho.  Going into 2018 is proving to be an exciting time to buy and sell!  How can that be you ask?  Let me explain.

If you plan to finance the purchase of your new home you may be interested to know a few things. With interest rates still historicall low, buying a home with rates under 5% means you can buy more house with your money.  When rates go up, that means your ability to buy a higher priced home goes down.  To get mathmatical on you, as an example at a 4.5% FHA loan with a minimum of $7,000 down for a $200,000 home, your payment (principal, interest and mortgage insurance) would be about $1350.  Depending on your cirucumstance (credit, debts, etc) you would need to make a minimum of $55,000 a year to qualify.  As rates are expected to go up this year as the economy has improved let me give you another scenario.  At a 5% FHA insterest rate, you would need to put a minimum of $10,000 down for a $200,000 home and your payment would be around $1400 a month (principle, interest and mortgage insurance).  Minimum yearly income would go up to about $60,000 depending on your situation. Just a rate incarease of 1/2 a percent woudl increase your minumum down payment by $3000, increase you monthly payment and increase your requirement for yearly income.  This is why it is a buyer market too.  Even with low inventory, it is a GREAT time to buy becaue you can afford more house NOW.  As a disclaimer, check with your lender to verify interest rate and numbers for your specific situation.

You will need an aggresive agent that can win multiple offer situations for you.  That's why you need me.  I have the skills and stategy to get the house that catches your eye.  I am your agent!

So why is it a seller market?  We have EXTREMELY low inventory and it has been steadily DECREASING over the past three years.  In some areas in the Treasure Valley, it is not uncommon to only have 2-5 houses as competition and average days on market for houses under $200k is less than a month.  This means, if you are thinking of selling, DO IT NOW! Low inventory means, low competition and a STRONGER sellers market.  We have about 6 buyers for every house on the market right now.  Take advantage of getting the equity of your your current property and move it to a home that meets your needs.  If you need to sell first to buy, then getting under contract now will be easier than waiting until March, April or May.  You will have more choices of homes to buy with out the delay of your current house selling.  Low rates, low inventory means you win in a selleres market and buyers market!

Let's take a look at your specifi situation. Does it make sense to move now?  How much equity can you move to your new home?  Let's strategize so we can make it a win win for selling and buying.  Call me today 208-918-0749.  

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