Ada county had 77 short sale properties fund and record in the month of February 2010. Prices ranging from $531,700 down to$53,000. Ada county includes the cities of – Boise, Garden City, Eagle, Meridian, Kuna and Star. That is a 100% increase of short sale homes closed from the same month last year, are we seeing a trend? 2009 highest sold price was $700,000 and the lowest was $120,000.
Canyon county had 32 short sale properties fund and record in the month of February 2010. Prices ranging from $359,000 down to $42,000. Canyon county includes the cities of – Nampa, Caldwell, Kuna, Melba, and Middleton. That is a %90 increase of short sale homes closed from the same month last year, I ask again are we seeing a trend? 2009 highest sold price was $417,500 and the lowest was $71,070 (not including a manufactured sale of $12,500)
So for comparison we have the month of February in 2009 and again the same month for 2010, closed short sales are up while prices have continued to go down. I do feel that values should start finding the floor while more and more short sales get completed. While loan modifications are still trying to make sense (will they write principle balance down to current market value?) or will 2010 be the year of the Short Sale! April 5th is the deadline for new short sale rules to be rolled out which should increase the success of short sales closed. Sum it up short sales sold are up and the prices are down- Great time to buy and also could be a great time to take a look at your home if it is underwater and you have trouble making payments- If your are wondering what your options are and would like assistance please don’t hesitate and call Joshua Groesbeck 208-353-7131 or visit http://www.homeswithjosh.com or http://idshortsale.com
Certified Distressed Property Specialist 208-353-7131
statistics are from the intermountain mls
