Major cities across the nation have begun seeing healthier real estate sales than past years and realtors say there could be a swing in a positive direction for sellers. Summer Joy looked into Southeast Idaho's real estate market to find out the local trend.
Talking with a realtor from Keller Williams, he says that Southeast Idaho is about six months behind when it comes to realty sales. Looking into 2013 though he says we are doing very well.
"It is a great time to put your house on the market, just because the inventory is so low and are seeing our prices going up. All the markets around us are doing fantastic, said Jim Windmiller, a Realtor for Keller Williams Realty.
So far this year 691 homes have sold. This is in part because of the reduction in sellers, Right now there are 871 homes on the market compared to a year ago when there was over a thousand, and this will help raise and stabilize market values.
"Over the weekend I had three of my listings with multiple offers on all three listings and these were homes that had been on the market for three or four months or even longer. But for right now for some reason, the buyers are out looking for the best deals," added Windmiller.
He says this could be a great time for sellers, especially if you bought your home after 2007, since homes were generally cheaper or more affordable after that time.
"If you bought in 2005, 2006, or 2007 you paid top prices in all ranges. If People bought it after 2007 the values started dropping at that point, so it just depends when you bought your house. We are starting to see homes selling for over $500 thousand again. Every situation is different so it's just great if you if the homeowner will call their realtor and have them come and look through their house. They will give their advice, opinions, and check the market and it might be good for you," said Windmiller.
Windmiller says if you are going to list your home make sure one of your top priorities is curb appeal. Along with that, buyers are looking for updated, cleaned, and organized homes. It can still be a buyers market because interest rates are continue to stay low and Windmiller adds that it's still easy to get financing.
Windmill says his best advice for buyers is to talk and interview multiple realtors before choosing one and to use the internet. Currently southeast Idaho's market is filled with a variety of home types, from starter to luxury homes, with all their prices just starting to go up, he says now is the time to buy or sell.