Status: Active
$239,900
3Bd/2.5Ba | 2013 Sq/Ft

Listed by Keller Williams Realty Boise

Great new listing in SE Boise! Boise real estate listings in the coveted SE end of town are in short supply.  And it’s no wonder, this location offers so many amenities and some of the best schools Boise has to offer.  Less than a mile away from this Boise listing is Bown Crossing, the Boise River, and more!

This charming and functional home was built in 1987 and has 2013 sq/ft.  The master bedroom is ideally located upstairs along with the great room (kitchen open to the family room).  The fully finished basement has 2 additional bedrooms, full bathroom, and a second family room.  The downstairs family room would be perfect for a bonus room, media room, or play room for kids.

This home in Boise has a newer roof, furnace, paint, and is overall in excellent condition.

2917 N El Ranch0, Idaho 83705 | MLS #98522550

Status: Active
$289,900
4Bd/3.5Ba +3000 Sq/Ft

Listed by Keller Williams Realty Boise

Status: Active
Subdivision: Bridgetower
$374,900
4Bd/2.5Ba +3456 Sq/Ft

This spectacular & unique home features an English Conservatory and tens of thousands of dollars into custom landscaping and patios. Huge Master Bedroom with 3-sided fireplace and sitting area. The Master Bathroom offers tri-vanities, a California style built-in closet, and dual shower heads. Beautiful hardwood floors on most of main-level, plantation shutters throughout, and gorgeous stain-grade built-ins cabinets in family & dining. Huge 4 car-garage RV Garage Door. No back neighbors and views of the Boise Mountains. A rare find in the highly desirable Bridgetower subdivision in Meridian!

Bridgetower was one of the top selling neighborhoods in 2012.  The neighborhood has community parks, pool, walking paths, waterfalls, and more.  There’s even “neighborhood commercial” businesses that are within walking distance.  Whether it’s a trip to the dentist, a cup of coffee with a friend, or a dinner out at Ginos Italian restaurant Bridgetower has a lot to offer.  Located in NW Meridian, Bridgetower also has great interstate access by traveling south on Ten Mile Rd.  Search all the homes for sale in Bridgetower and Meridian using our Boise MLS search.

Listed by Keller Williams Realty Boise.  Contact us for a showing and for more information.

Information not guaranteed & subject to change without notice.

One of the driving factors for the increase in demand for new homes in the Boise area is the relatively low supply of homes for sale.  During March 2013, there were just 1,787 homes for sale in Ada County.  Compared to inventory in previous years, this is substantially fewer:

• March 2013 – 1,728 homes for sale
• March 2012 – 1,879 homes for sale
• March 2011 – 2,201 homes for sale
• March 2010 – 3,102 homes for sale
• March 2009 – 3,852 homes for sale
• March 2008 – 4,691 homes for sale
• March 2007 – 4,292 homes for sale

Why are there so few homes for sale in the Boise area?  Perhaps the largest contributing factor is it doesn’t make financial sense for many homeowners to sell.  Many people bought at the peak of the market in 2006 – 2007, and while home values have been rapidly rising, they are still substantially below where people paid (or their mortgages).  Many homeowners are waiting for values to continue to rise before selling their property.

Should you consider selling now?  If you’d be purchasing another home, right now is an excellent time to sell a home in Ada County. Interest rates are still near historic lows, and over the life of a loan, could save you a substantial sum of interest paid.

Home loan rates today are 3.5% for a 30 year fixed-rate mortgage (www.iccu.com on 4/11/13).  For a $200,000 mortgage, the total interest paid over 30 years would be $123,311.97.  If interest rates went up to 5.5%, the total interest paid over 30 years would be $208,806.9.  Interest Rates about 5 years were between 5.5% – 6.5% (which were still considered historically low).

If you’d be selling, but not entering the Boise home market to purchase, right now might not be the ideal time to sell.  Most indicators seem to point to a continued upward pressure on home prices, and it may be a better financial decision to wait.

Another option some homeowners consider is to turn their current property into a rental, and purchase another property.  That way they try and secure the “best of both worlds” -  Rising home prices on their existing home, while locking in a low-rate (and still relatively low home price) on the new home.  Of course, there’s some cons to this approach as well like finding a quality tenant, landlord headaches, and more lending restrictions.

If you’d like to discuss these options and the details of your specific situation, please feel free to contact us.