Smaller markets in the heartland are seeing an even higher rate of affordability, like in Indiana where over 95% of homes sold in the second quarter of 2011 were sold to families earning a lower median income.

“At a time when home ownership is within reach of more households than it has been for more than two decades and interest rates are at historically low levels, the sluggish economy and the extremely tight credit conditions confronting home buyers and builders remain significant obstacles to many potential home sales,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB).

Unfortunately the high levels of affordability, even with historically low mortgage interest rates, has not translated into more home sales – existing home sales declined in July, down 3.5% from June.

Lawrence Yun, NAR chief economist, said there is a tug and pull on the market. “Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers,” he said. “Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate additional economic activity and create jobs.”

However, the temporary decline in foreclosures that some analysts attribute to a temporary pause for lender or judicial procedural reviews, could instead be a true decline in foreclosures.

According to the MBA “foreclosure start rates fell to their lowest level since the fourth quarter of 2007. Foreclosure inventory rates also fell, to their lowest level since the third quarter of 2010.”

Some experts argue that this drop in foreclosures is only a temporary drop which does not reflect the problems that may be ahead as there are still many problem loans that need to be resolved. There is a silver lining in all of this however:The percentage of loans 90 days or more past due continues to fall along with the foreclosure rate, and is at the lowest point since the beginning of 2009. Were there a growing backlog, one would expect to see the 90-plus day delinquent category increasing.

Without this backlog, foreclosures could be losing steam, meaning prices and the market as a whole could be headed toward stabilization and eventual recovery. NOW may be the best time to not only invest in Boise real estate but also to jump into the market if you are a first time home buyer looking to stop renting. Contact the Boise Real Estate Company today to start finding the best homes in Idaho online!

Are you looking for great homes in Boise? Contact Kemal at the Boise Real Estate Company today to start finding the best available homes in Idaho! Kemal has the skills and experience to cut through the clutter and help you find just the right real estate for you!

Check to make sure the terms of your contract have been met and that the condition of the property has not change significantly since talks began. It doesn’t hurt to bring your a copy of your purchase contract as a reference guide during this visit as it can help you track down the little details without losing sight of the whole picture.

Here are a few things you should be on the lookout for:

1. Major appliances: Be sure that any items that were to remain in the home are still there, and that they are in good working order.

2. Major systems: Do the air conditioning, heat, and plumbing still function properly?

3. Repairs: As part of your purchase contract, the seller may have been required to make repairs. Be certain that these have been completed, or that the seller has a written timeline for when the repairs will be completed.

4. Walls and floors: Has any damage occurred to the floors or walls during the sellers move? Were rugs, artwork, or carpets covering water damage that was not disclosed? Dings in the walls?

5. Screens and Storm Windows: If it is the season for these items to be in storage, be sure they have indeed been left in storage and that they are in good shape.

6. Remotes: Garage doors, alarms,and sound systems likely all use a remote, some of which can be very expensive to replace. If these items were part of your agreement, be sure they have been kept with the house.

7. Cleanliness: The home should have been cleaned and all debris removed. Moving is stressful enough without having to clean up other peoples mess the first week you are there.

8. Fixtures: Light fixtures, curtains, and other items that were agreed upon should still be in the home. If they are not, let your agent address the conflict.

9. Landscaping: It may seem hard to believe but yes, some sellers may try to run off with your shrubs and plants! Check your contract to see what is supposed to stay; if plants were taken, let your agent handle the situation.

10. Exterior: Has there been any storm or other damage to the home since your inspection or first visit? Be sure to visually inspect the exterior of the house for damage. Once you have signed on that dotted line, the house is yours — and that could mean storm damage and all.

Closing time can be very hectic. Take the time for your final walk-through. It’s the smart thing to do in order to make sure no last minute items have been forgotten and that nothing has changed regarding the property during the time since your first visit.

The Boise Real Estate Company is a great source for real estate help in Idaho! We can help you find the home you are looking for or help you get the most for your current home even in a difficult sellers market! Contact us today for the best homes for sale in Boise and much more!

We’re just getting things started for now but be sure to check back often to get the latest Idaho real estate information and more!

Home prices have never been better, and mortgage rates are still at all time low levels – this combined with the fact that Idaho’s Treasure Valley is one of the best places in the country to live and raise a family, makes it a GREAT time to buy a home!