| The housing bubble has burst! Home value | | | | Central Idaho for the mountains, beautiful |
| medians are plummeting, the real estate market | | | | landscapes and outdoor activities, and South |
| is in a horrible slump and the sky is falling! So say | | | | Central for national reserves and state parks. |
| many doom and gloom predictions of media and | | | | Finally, South Eastern Idaho is a treasure trove of |
| real estate industry leaders about the state of | | | | Native American history, hot springs (warmed by |
| the market. If you're sick of hearing all that bad | | | | volcanoes) and all kinds of adventure. |
| news, here's some good news for a change: it's | | | | With so much to do in Idaho, it's a wonder |
| not that bad! When looking at the market on a | | | | anybody has time to work, but they sure do. |
| national level it's easy to make generalizations on | | | | Idaho's unemployment rate hit a record low of |
| how the market is doing, but realistically knowing | | | | 2.8% in April of 2007. The median household |
| the median home value of the nation isn't going to | | | | income in 2005 was about $43,959, which by |
| help you much when you're ready to buy or sell. | | | | 2007 has most likely risen to $45,000 or more. |
| (But in case you're curious, the national median | | | | The median home value of Idaho is still relatively |
| home value in 2006 was $221,900.) In order to | | | | low at about $131,854 in 2007. |
| get an idea of how a particular area is doing in real | | | | As of now, the busiest area of Idaho, Boise, has |
| estate and home value averages, and where they | | | | a conflicted market. Properties listed with a home |
| may go in the future, you need to take into | | | | value over $400,000 are going slowly, usually |
| account more than just average home value and | | | | sitting on the market for a year or more. It's a |
| sales rates. You must look into the economy, | | | | good time for buyers, since there's so much |
| employment rates, attractions and the past | | | | competition and homes on the market, and sellers |
| trends of that area in order to get a good grasp | | | | are dropping prices to sell their home quicker. |
| on how the market is doing in said area. | | | | Anything with a home value under $400,000 is still |
| Idaho (capital is Boise), probably best known for | | | | in a very healthy market, with homes selling |
| being the potato state, has much more to offer | | | | usually within 90-120 days and within 1% of a |
| than just agriculture. With a population of nearly | | | | seller's asking price. |
| 1.5 million and plenty of land to spread out on (it's | | | | In northern Idaho, the Coeur d'Alene region, home |
| said that if you were to flatten Idaho's mountains, | | | | value averages are down a bit from last year |
| it would be the size of Texas), Idaho's economy | | | | (considering inflation), while listing are up about |
| does rely on it's cattle, potatoes, dairy, wheat, | | | | 25% and sales down by almost the same |
| sugar beets and barley production, as well as | | | | amount. It does not look to be a very strong |
| industry production like lumber and wood, paper | | | | market at this time for northern Idaho. |
| products, food processing, machinery, chemical | | | | Western Idaho and the Idaho Falls region has |
| products, silver and other mining and tourism. | | | | seen an increase in average home value and it |
| The more tourism a state receives, the higher it's | | | | looks as those prices on existing homes and new |
| market and home value averages tend to go, | | | | construction will continue to rise, based on rising |
| simply because knowing a place is so popular | | | | costs of materials and consumer demand. So far |
| tends to drive people to reside there. Broken into | | | | the inventory of homes isn't so high that prices |
| 7 distinct regions, Idaho has something to offer | | | | are dropping and homes are just sitting on the |
| everyone. In northern Idaho, you can visit lakes | | | | market. |
| and thicks forests, as well as the North West's | | | | All in all, Idaho's real estate market is still doing |
| largest theme park: Silverwood. Northern Central | | | | pretty well, though mostly in the southern part of |
| Idaho is where Lewis and Clark searched for a | | | | the state. With the low unemployment rate and all |
| Northwest passage to the Pacific and so has | | | | the available land, Idaho as a whole shouldn't |
| plenty of hiking and historical opportunities. The | | | | suffer too badly from this supposed real estate |
| South Western region holds the capital city with | | | | "slump" and though home value averages aren't |
| it's bustling night life and only miles away, high | | | | rising as fast as they did 2 years ago, for the |
| deserts and rock canyons. Visit Eastern and | | | | most part they're still moving on up. |