Alison Blake Group Blog

I feel like shouting it from the rooftops - Boise is on sale !!  With all the doom and gloom of  Wall Street and the recent changes in the economy, there is a silver lining.  Whether you are looking for  a home to call your own or looking to buy a few investment properties to add to your portfolio, now is the time to stop thinking and start doing!!  With historic numbers of foreclosures and short sales on the market, prices have never been lower. Coupled with this, the mortgage rates for investors are at 5.5%  while the rates for homeowners are well under 5%.  This means that on a $100,000 mortgage, the prinicipal and interest payment would be around $550 and $500 respectively.

While it is hard to tell where the bottom of the real estate market will be, if you are planning on staying in a home or keeping an investment property for several years, it appears that you could not be better positioned.  Rents are  stable in the Boise area and there appear to be plenty of renters for the properties.  I have recently sold several investment properties to an investor who was able to rent both properties out within a three week period to qualified tenants at a price that gave her a positive cash flow.

All this does not mean that you do not have to do your homework.  It is wise to compare at least ten properties to each other and find out which area will support stable rents.  It is prudent to look at all foreclosure and short sale lists and consider all your options, as there are plenty.

If you would like a weekly list of foreclosures and shortsales , email me at ablake@group-one.com and I will be glad to add you to the list.

Happy Shopping!!