We've been busy!

We've been busy! Are you aware that the Boise Square One sold 35 homes in Boise and Meridian Idaho between the 12th of February and the 28th of February? In fact, we sold 9 of those homes on the 28th of February. Why you might ask? I have a couple of theories that I will give you and I'll let you decide for yourself!

Let's start with Corey's Picks Promotion. This is a really exciting promotion that we launched a few months back that changes on a weekly basis. From the 10th of February through the 28th of February Corey's Picks Promotion was $8,000 pretty much any way you want it! I know what your thinking and the answer is NO...It's not the $8,000 you are already getting from the government...It's $8,000 in addition to what the government is already giving to first time home buyers! By the way we brought a version of this promotion back! $8,000 on homes 1,500 square feet and above and $5,000 on homes 1,499 square feet and below through the end of March!

Not enough for you? Let's couple that promotion with interest rates at all time lows. Did you know that you can purchase a brand new home in Boise, Idaho for $112,000? What's the payment on that you wonder? Principle, Interest, Taxes and Insurance, or PITI, comes to a payment roughly around $770 per month. That's right...you can own a brand new home in Boise for roughly $770 per month. I hope that doesnt embarrass anyone who happens to be paying more money in rent for a smaller two bedroom apartment then they would be purchasing a 3 bedroom 2 bath brand new CBH Home.

I know I know...I can hear it already..."Chase, that's good and all but it’s a buyers market and I still need more!” Let me address the "Buyer's Market" as it is a valid point. You are absolutely right that it is a buyers market. Does that mean that you can go ahead and offer $20,000 below full price on that $116,000 home in Boise because it's a "buyer's market"? Of course not...So why is this considered a "buyer's market"? What makes this a buyers market is the fact that the seller's have priced their homes so aggressively that ...They've already taken $30, $40, $50 and in some cases $80,000 off the home that you are looking to purchase! You don’t have to come in and low ball $10 or $20,000 off the price of the home to get a good deal because the majority of the homes that you pull up in your search are already a good deal!

In any transaction in life, both parties want to feel like they are getting a win. Let's call this a win/win if you will. So the person who bought their home in 2007 for $200,000 that decided to list it in 2010 only to find out that a fair market value for that home today is really $150,000. Put yourself in the Seller's shoes for a moment. Tell me how you feel listing your home for $50,000 less then what you purchased it originally for. Is there any way possible that you could make this feel like a win? Not likely. Now let’s put our buying shoes back on. Not knowing, or refusing to acknowledge, that the seller may have paid significantly more money for the land, the home or both previous to them putting the property on the market. What do we as the buyer need in order to feel like we are getting a "win"? I'm going to suggest that for most of us buyer's we want what everyone else is getting and just a little bit more in order to feel like we are getting a deal or a win if you will. So we approach that seller who is already taking a huge hit on the sale of their home and we write them an offer that is $20,000 lower then the listing price. What do you think that seller is going to say or do when they receive that offer? @#*$#*% #*%!@* #$**#. It's a family show so I won’t elaborate but I'm sure you can fill in the blanks! I see this happen often in todays market. The buyer comes in low...the seller gets upset and either rejects the offer or doesn't budge on their list price and both parties walk away with nothing.

So...How do we get you, the buyer, in this buyer's market the win/win you are seeking? With pricing, rates and the government giving you money to purchase a home I think it is difficult in this market NOT to get a win/win as a buyer. If you align yourself with a real estate professional, they should already be showing you the best deals in town that fit your criteria. If you don’t have one you can certainly call me at (208)284-0829 or click here. Here's what I suggest...You need to be looking at homes immediately and when you find the home that you love, surely it will be a CBH Home in Boise or South Meridian, place an offer that you feel comfortable with knowing no matter what happens with the offer that you, the buyer, are already getting a win/win in this market.

I'll leave you with this. In 2004 and 2005 the real estate market went crazy. Everyone and their dog wanted to buy a home. Why did the real estate market go so crazy during those times? Pricing was good and interest rates were low. In 2010 what factors do we currently have? Pricing is good and interest rates are low...and the government is paying you to buy homes. Need I say more?

Happy Shopping!

Chase Craig

CBH Homes

Boise Square One Manager