We are in FULL SWING of our traditional selling season, and we are still lacking homes to sell. Buyer demand is outstripping our supply of available homes. Interest rates have begun to tick up a bit, with current rates hovering around 3.375% for a 30-year fixed conventional loan. That is up about 1% from a year ago….which means to keep the same payment, a buyer can afford 11% LESS in purchase price. And prices of homes sold were up 44% year-over-year in April in Bonneville County!
It’s more important now than ever to help your children and grandchildren save for a down payment and closing costs for a home. The Idaho Legislature has created a new tool to help achieve this, read the link below!
If you have been considering selling, or wonder what your current home value might be, please call soon while the supply of homes for sale is still low…and beat your competition to the market!
Happy Spring!
Idaho in the News
First-Time Home Buyer Savings Accounts | Idaho REALTORS®
idahorealtors.com • First-Time Home Buyer Savings Accounts and changing the Homeowners Exemption date became a reality this session. Read More
Gov. Little signs property tax relief legislation into law
ktvb.com • The governor signed the last-hour bill despite expressing reservations about the process and whether it will truly provide homeowners with relief. Read More
Why Idaho Is One Of The Top Housing Markets In The US (State to State Migration)
rockethomes.com • Why has Idaho become such a hot spot for incoming home buyers? We dug through the data to find out. Read More
Regional and National Real Estate News
NAR Quarterly Report: Nearly All Home Metro Areas Saw Rising Prices
rismedia.com • NAR recently released data showing that nearly every metro area it tracks posted year-over-year price increases in the first quarter of 2021. Read More
“If I Sell, where will I go?” Maybe Iowa?
10 Buyer’s Markets Where Home Prices Haven’t Boomed
barrons.com • Barron’s searched for compelling areas where home prices have risen below average and buyers face less competition than they might in other parts of the U.S. Read More
Peter Reichard: Rising housing costs and rising concerns in Utah
sltrib.com • Peter Reichard of the Utah Foundation writes that there are many factors going into the rising cost of Utah housing. Read More
DEADLINE REMINDER: IRS and Idaho State Income Taxes Due MONDAY May, 17th!
If you purchased or sold a home in 2020, be sure to send your accountant your closing statements for tax preparation purposes!
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