Lezamiz Real Estate Blog by Sid Lezamiz

Changing Times

Everyday signals changes in the real estate world, and with those changes, it’s easy to wonder how we are being affected here in the Magic Valley. A quick, non-scientific, look at the statistics may shed some light on home sales in Twin Falls, Jerome, Filer and Kimberly, Idaho. The following remarks stem from data taken from the Intermountain Multiple Listing and only deals with Single Family, Residential homes in the above mentioned cities. A Buyer’s Market Without a doubt, the Magic Valley Market continues acting as a strong Buyer’s Market. This means that the number of homes listed for sale far outweighs the demand of home buyers. Through the first quarter of 2008, there were 609 Single Family homes available for sale. Of those 609 homes listed, 205 have sold. That means an average of 33.66% of the homes listed were sold. The percentage of homes sold to homes listed, continues to decline from the buying ..(read more)

Good News! Good News!

After months and months of gloom and doom it is finally here. Good News!!! Yes indeed interest rates are at a phenomenal low of 5.25% and dropping on a 30 year fixed rate mortgage. What does this mean to you, the consumer? This means you can buy more home for less money. They buying opportunities are also there. Buyer's who are pre-qualified for a loan, have a good selection of new and existing inventory of homes at an affordable price to choose from.

The local newspaper called me a few days ago to confirm...is it true? Yes, yes I gasped it's Good News! The local newspaper had heard rumblings that traffic (meaning actual showings of homes) as well as sell counts (number of home sales) were up as well as, interest rates, new home inventory, new home starts, the existing home market, market absorption rate, lower, middle and upper end real estate sales... The reporter, burst out, What had he been thinking? He too ..(read more)