I have a crystal ball! I know what real estate is going to do in the Coeur d’Alene & Post Falls areas…
No, not really.
However, here are some things that MAY indicate we’ve bottomed out in North Idaho …
1. Total closed sales are up 7% this year vs. last year
2. Pending sales (those in escrow) are up 11.7% this year vs. last year
3. Active Listings (homes available for sale) are down 11.6% this year vs. last year
4. New Listings (fresh on market) are down 14.5% this year vs. last year
So what does this all mean?
1. It means people are starting to buy again
2. It means people are starting to buy again
3. It means sellers are starting to understand the realities of the market
4. It means sellers are starting to understand the realities of the market
What does this mean for you?
Buyers: This is an historic time to buy. I can not stress this enough. Seriously. Prices are low, REALLY low. Interest rates have NEVER, throughout ALL history of interest rates, been this low. This means that your money will “go farther”. This means you can afford more home than you’ve ever been able to afford before.
Sellers: This is an historic time to sell. Sure you may have lost value from when you purchased. HOWEVER, after you sell, you will want to buy again. You will SOOOO make up for your loss on the buying side. HUGELY.
Got Questions? Fire Away . . . .