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Well, after so many years of dreaming of moving to the Boise area we are finally in a position to make it a reality. At least, we thought we were. We spent a year having updates done to our home, got a pre-listing inspection and took care of all of those items.
After a very long search we found a house in and made an offer with a 30-day contingency to sell ours. A couple of months or so ago our house would have sold very quickly. Now, with climbing interest rates it's still sitting on the market even though we have dropped the price by $50,000.
So, the offer on the Idaho house has been terminated. It is my understanding that the market is also changing in Boise with houses taking longer to sell and prices dropping. We didn't even ask for an extension since the agreed upon price at the time of the offer is probably far above what the market value is today. And we don't know how much we will eventually get for our house when it sells. We don't want to be underwater in a house before we even move in. We are keeping our house on the market and hope that things work out.
If we get a viable offer on our house and we haven't found another one in the Boise area, we will have to decide whether to sell and try to find a short-term rental there. It appears that those are hard to find. Any suggestions on where to look other than Zillow?
Well, after so many years of dreaming of moving to the Boise area we are finally in a position to make it a reality. At least, we thought we were. We spent a year having updates done to our home, got a pre-listing inspection and took care of all of those items.
After a very long search we found a house in and made an offer with a 30-day contingency to sell ours. A couple of months or so ago our house would have sold very quickly. Now, with climbing interest rates it's still sitting on the market even though we have dropped the price by $50,000.
So, the offer on the Idaho house has been terminated. It is my understanding that the market is also changing in Boise with houses taking longer to sell and prices dropping. We didn't even ask for an extension since the agreed upon price at the time of the offer is probably far above what the market value is today. And we don't know how much we will eventually get for our house when it sells. We don't want to be underwater in a house before we even move in. We are keeping our house on the market and hope that things work out.
If we get a viable offer on our house and we haven't found another one in the Boise area, we will have to decide whether to sell and try to find a short-term rental there. It appears that those are hard to find. Any suggestions on where to look other than Zillow?
Tht's because the Federal Reserve raised the rates now in the area of 6% and climbing.
My Grandma was a young widow with four kids to raise alone during the Depression, she lived long enough to bury 3 of them. When I think life stinks, I try to draw on her courage and grit. Find someone in your life to be your star and hold on tight. You have a house and food which is more than many Ukrainians have a the moment. I do understand how sad it can be when life crushes your dreams but regroup and move on.
My Grandma was a young widow with four kids to raise alone during the Depression, she lived long enough to bury 3 of them. When I think life stinks, I try to draw on her courage and grit. Find someone in your life to be your star and hold on tight. You have a house and food which is more than many Ukrainians have a the moment. I do understand how sad it can be when life crushes your dreams but regroup and move on.
Several years ago I began posting here about visits and our plans to move to the area. This post was intended to be an update on where we are in that process and to ask about short-term rentals. So, I am not sure how to interpret your response and why you think I might lack courage and grit and need to find someone in my life to be my star. I look to and cling to God as my source of strength and my faith has not waivered. I am well aware of and truly grateful for the blessings He has given me. As far as "regroup and move on" we continue to live our lives but that doesn't mean giving up on our dream to move to the area at some point.
Well, after so many years of dreaming of moving to the Boise area we are finally in a position to make it a reality. At least, we thought we were. We spent a year having updates done to our home, got a pre-listing inspection and took care of all of those items.
After a very long search we found a house in and made an offer with a 30-day contingency to sell ours. A couple of months or so ago our house would have sold very quickly. Now, with climbing interest rates it's still sitting on the market even though we have dropped the price by $50,000.
So, the offer on the Idaho house has been terminated. It is my understanding that the market is also changing in Boise with houses taking longer to sell and prices dropping. We didn't even ask for an extension since the agreed upon price at the time of the offer is probably far above what the market value is today. And we don't know how much we will eventually get for our house when it sells. We don't want to be underwater in a house before we even move in. We are keeping our house on the market and hope that things work out.
If we get a viable offer on our house and we haven't found another one in the Boise area, we will have to decide whether to sell and try to find a short-term rental there. It appears that those are hard to find. Any suggestions on where to look other than Zillow?
Be careful. You might have read by national real estate experts, that Boise will be one of the hardest and first of the housing markets to crash fast. IF IT HAPPENS.
Who would want to purchase a house, then have it drop thousands shortly after?
Local real estate agents will tell you otherwise.
Hey, can't blame them, they want to make a sale, while they can.
Be careful. You might have read by national real estate experts, that Boise will be one of the hardest and first of the housing markets to crash fast. IF IT HAPPENS.
Who would want to purchase a house, then have it drop thousands shortly after?
Local real estate agents will tell you otherwise.
Hey, can't blame them, they want to make a sale, while they can.
Hi, jwest09. That is exactly why we didn't try to get an extension on that house we loved. When it seemed like a lateral move with both houses being in the same ballpark as far as price it was worth it. But when the market affected our house and we heard that Boise would be one of the hardest hit things changed. We had to listen to our heads instead of our hearts. Our realtor up there admitted that we made a wise financial decision. I respect him for that. So did our listing agent here.
For now, we still have ours on the market. Our lsting agent here feels we should get as much as we can now, rent for a while, and buy when we can get a deal there. It is the old "sell high and buy low" adage. It's the renting part that makes me uneasy. There are so many things to consider. I know that rent prices are high. We would be spending down what money we have. There are so many questions at this point. Will rent prices stay high or go down? And how hard will it be to find a short-term? And how long will it take for us to find something to buy? These questions are rhetorical as I know that no one knows what will happen. I am just stating our thought processes. The other option is to stay where we are until the market seems to settle down, sell low, buy low.
Hi, jwest09. That is exactly why we didn't try to get an extension on that house we loved. When it seemed like a lateral move with both houses being in the same ballpark as far as price it was worth it. But when the market affected our house and we heard that Boise would be one of the hardest hit things changed. We had to listen to our heads instead of our hearts. Our realtor up there admitted that we made a wise financial decision. I respect him for that. So did our listing agent here.
For now, we still have ours on the market. Our lsting agent here feels we should get as much as we can now, rent for a while, and buy when we can get a deal there. It is the old "sell high and buy low" adage. It's the renting part that makes me uneasy. There are so many things to consider. I know that rent prices are high. We would be spending down what money we have. There are so many questions at this point. Will rent prices stay high or go down? And how hard will it be to find a short-term? And how long will it take for us to find something to buy? These questions are rhetorical as I know that no one knows what will happen. I am just stating our thought processes. The other option is to stay where we are until the market seems to settle down, sell low, buy low.
Hi, back.
The Treasure Valley is a fantastic place to live. But like most places, it's definitely not problem, or issue free, like some people will try to convince you of.
Best of life, wherever you find.
Hi, back.
The Treasure Valley is a fantastic place to live. But like most places, it's definitely not problem, or issue free, like some people will try to convince you of.
Best of life, wherever you find.
We do realize that there is no perfect place. Thank you for the best wishes!
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