National New Home Sales May Have Plummeted In July, but Boise Existing Home Inventories are Low and Sales Remain Strong.
Boise Regional Realtors reports in their August monthly analysis that low inventory supply of existing homes and an increase in demand has resulted in an increased median sales price of 34.2% between October 2014 and July 2017 in Ada County and an increase of 42.2% in Canyon County. Comparing pending sales from October 2014 to July 2017 shows a dramatic increase of 71.7% in Ada Co. and 76.6% for Canyon County!
With a forecasted estimated 25,00 net increase in population in the Boise area per year for the next 10 years one might wonder if the real estate market will ever slow down? Jonna Weber, owner of Jonna Weber Real Estate at Silvercreek Realty group reminds us that for the past few years, Boise has made it in the top of some pretty impressive lists: Most Caring City in America, Best Place to Live, Top States for Job Growth, and countless others.
And, as Boise continues to receive top accolades, we are seeing the interest in our market grow! Jonna is an agent and buy and hold investor in the Treasure Valley. She receives emails from investors every week who have heard about Boise, are considering investing in real estate market, and are wondering the same thing, "What is all this talk about Boise really about?"
To begin answering that question and to help investors understand why rental properties in Boise continue to be in high demand, Jonna has created a blog, "The Buzz About Boise." We invite you to subscribe to her blog as she continues to answer that very question for all inquiring minds. CLICK HERE to read "The Buzz About Boise." ENJOY!
(The maintenance updates only apply to those of you who have pre-ordered these preventative maintenance services. If you didn’t opt in for a service you read about in this newsletter, and would like to schedule a service, just email Spencer@rentalsinboise.com to let him know.)
The following preventative maintenance services will be performed over the next couple of months:
- HVAC System Service
- Dryer Vent Blow Out
Nothing new from our accounting department this month.
If you have questions about your statement, please contact Karen@rentalsinboise.com.
Our SeptemberTenant Newsletter reminded tenants of our routine inspections, drive bys, and owner-elected preventitive maintenance services. Some tenants find these necessary visits to their home an invasion of their privacy. We try to help them understand that preventative maintenance and routine inspections are a benefit to them in making sure their home is kept in top condition.
If you’d like to read the tenant newsletters, you will find them on our website under the “For Tenants” tab, second to bottom drop-down menu item.
What Are You Interested In?
This newsletter is intended as a resource and communication platform for you. If there is a topic, relevant to the management of your investment property, that you would like me to write on, please let me know!