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Shadow inventory in Ada or Canyon County?

Shadow inventory in Ada or Canyon County?
Shadow inventory in Ada or Canyon County?



Take a look at this article…It’s amazing to me how easily you can spin good news to make it seem bad.

Someone estimates the amount of homes that 7.2 months are and some how it becomes etched in stone that we have 4,400 future distressed properties that have yet to come on the market.  To quote a good friend of mine, “Whose crystal ball are you gazing at?”.  Sure someone is taking a stab at it…they were asked a question and gave their answer…do you think the thousands of people that “read” this article really dissected it though?  I’m sure that most people read the headline and made up their mind…unfortunately.

Unless you are getting factual numbers from banks, there really isn’t any number that we can hang our hats on. Sure there are some homes that are being foreclosed on or have already been foreclosed on that haven’t yet hit the market.  But to throw a number on it as if it were gospel is very reckless in my opinion.

Let’s focus on the facts.

Fact #1 - Ada and Canyon County inventory levels are currently at the lowest they have been since 2006.

Fact #2 - We currently have about 5 months worth of supply on the market today. (Some people consider the tipping point for moving from a buyer’s to seller’s market and visa versa is at the 6 month inventory level.  Less then 6 months = advantage seller…More then 6 months = advantage buyer.)

Fact #3 - Inventory levels of distressed properties have been decreasing monthly.

Don’t believe every headline you read in every paper you see…Look for the subtle facts that they sneak in hoping you won’t read the entire article.  It’s a great time to buy a home in Boise Idaho!

Chase Craig

Boise Idaho Real Estate


 
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