Tags - City of Ashton, City of Blackfoot, City of Idaho Falls, City of Rexburg, real estate
Stronger than normal economic conditions in Southeast Idaho are pushing the realtors in the Upper Snake River Valley to a holiday sale Nov. 17-23.
“Southeast Idaho’s real estate market is well-positioned to ride out the national economic slowdown,” according to Greater Idaho Falls Association of Realtors President Steve Hatch. “Our economy is stronger than the rest of the country"
Realtors in the Upper Snake River Valley are holding what they are calling the largest single-home sale in Southeast Idaho history next week. The event is titled the “Home for the Holidays” and features more than 260 price-reduced homes from Shelley to Ashton.
“Many potential home buyers are sitting on the sidelines right now. Local realtors and their home sellers have decided to give them a reason to get off the fence and the ‘Home for the Holidays’ home sale is it,” Hatch stated.
The price cuts offered are on homes from under $100,000 to move than a million dollars. There are homes in communities such as Shelley, Idaho Falls, Ammon, Rigby, Rexburg, Sugar City, St. Anthony & Ashton.
"Home loans are widely available in our price ranges. Interest rates are great. And, we didn’t see the massive speculation of some markets,” Hatch stated.
17 Comments
Our market is so strong that we are having a mass sale of priced reduced homes?
This is why consumers dont trust Realtors.
Comment By ID Realtor Friday, November 14, 2008 @ 12:00 PM
They're riding down the finished streets, with the auctioneer & megaphones in the back of a pickup....doing an old Texas-style oilpatch auction.
Comment By Bill Friday, November 14, 2008 @ 4:01 PM
If the economy is so strong why are the house's prices being reduced?
Comment By Dave Friday, November 14, 2008 @ 4:10 PM
One must remember that the Idaho Falls area's economy has done much better than most of Idaho. Obviously, the Boise area has had a rough time recently --- layoffs at Micron & HP, etc.
SE Idaho has done much better. The unemployment rate in Idaho Falls is one of the 10 best in the U.S. Areva announced their $2.2 billion plant to be built west of the community. Agriculture and the local high tech companies have done well.
As a consequence, the area's real estate market has seen moderate appreciation the past couple years. The last few months have been flat --- but that is a whole bunch better than the sharply falling prices in the Boise Valley and in much of the U.S.
One point of difference is foreclosures. Boise has lots of them. SE Idaho has relatively few.
As to this "sale", it's a marketing gimmick to get more folks in the market. If someone wants to take advantage of it, they can. If not, then they can't stand on the sides.
Comment By Steve Friday, November 14, 2008 @ 4:15 PM
I think this is fabulous! What an innovative way to market this time of year.
Comment By Ellen Friday, November 14, 2008 @ 4:21 PM
What a contridiction. Stong market so we are lowering prices???!!!
Comment By Marilou Friday, November 14, 2008 @ 4:32 PM
I am glad that I'm not the only one who finds this both funny and irritating. I hear the auto industry is slashing prices and giving 0% interest rates because they can't keep up with demand.
Either these realtors are too stupid to realize how pathetic this "sale" is or they believe that consumers are to stupid to realize how pathetic it is. Either way it doesn't make you want to do business with them.
Comment By Scott Friday, November 14, 2008 @ 4:42 PM
People are confusing a strong local economy with the local real estate market.
The story notes: “Our economy is stronger than the rest of the country".
SE Idaho's local economy is pretty good (Idaho Falls has a hot job market). Then it notes that lots of buyers are waiting.
If I understand correctly, this sale is to get some of those buyers into the real estate market.
Comment By Mark Friday, November 14, 2008 @ 4:45 PM
Calling a Realtor stupid for offering Sellers a different way to market their property?
Ethics? Are you acting in the best interest of your client? Absolutly!
Sellers have the final say in a price reduction of their home and any creative marketing that their agent may offer to them.
Great Marketing Idea!
Comment By Steven Friday, November 14, 2008 @ 5:14 PM
It's basic supply and demand that controls the market prices. Homes aren't being demanded so prices come down. It's hard to draw a conclusion about how strong the market is by this "sale" alone.
You can choose to look at either as a good thing or as a bad thing; it will depend on how your outlook on life is right now. (Glass half full or half empty.)
Comment By Aaron Friday, November 14, 2008 @ 5:40 PM
Only a realtor would defend this "marketing strategy". The realtor and the real estate system is completely antequated and will change completely in the next 5 years. Sorry guys, maybe you can sell cars in 5 years.......or maybe not.
Comment By Scott Friday, November 14, 2008 @ 7:17 PM
To STEVE: Are you a realtor/idiot/scam artist? Of course your are one of those if not all three.
Comment By Concerned Citizen/Proud Repbulican Friday, November 14, 2008 @ 8:50 PM
To Scott: I don't who you are or what you do, but amen brother. It is a mkting scam just like it was for the last few yrs. The realtors were part of the problem in the first place. Most of them are to stupid to run a legit business or get a legit job so they made their living off of scamming people, and cavorted with the mortage industry and appraisers to carry out their scams. Well guess what you idiots? Now you suffer with the rest of us and I hope you suffer BIG!
Comment By Tired Friday, November 14, 2008 @ 8:54 PM
Why the bizarre hostility?
I just outlined the fact that the economy in SE Idaho is relatively strong. And, you just call me names.
Here's the facts. According to the Idaho Dept. of Labor, Boise's unemployment rate in October was 5.9%. The Idaho rate is 5.4%.
Idaho Falls' unemployment rate in October was 3.3%. Rexburg's rate was only 2.7%. Clearly, that part of the state is doing much better than the rest of Idaho or the nation.
My simple point was that economic strength meant that SE Idaho's real estate market has better fundamentals than most of Idaho.
Are you so upset (and demeaning) because I'm being accurate??
Maybe time to up your meds . .
Comment By Steve Saturday, November 15, 2008 @ 11:46 AM
Aaron got it right. The economy in Idaho is much better than the national average, but that doesn't mean that our real estate bubble didn't burst. It did, just like it did everywhere else, but it's recovering much more quickly here.
And as for the anger and dyspeptic vitriol toward the real estate industry, calm down and think before you hit "submit comment."
The implosion of the real estate market in this country was just like the .com bubble of the 90's. Too many amateurs got in the game while the market was peaking, thinking they could make a quick buck, and they ended up losing everything when the bubble burst soon after. There is no quick way to wealth, people. And if you are one of those who got burned by the recent crash of the real estate boom, don't blame the agents or the banks, blame yourself for being greedy and short-sighted. Nobody held a gun to your head and forced you to buy more house than you could afford.
And, by the extent of the anger here, I bet you already know this, and you hate yourself for your foolishness. Otherwise you wouldn't be so frantically trying someone else to blame.
Comment By Spiro Saturday, November 15, 2008 @ 12:58 PM
Steve=Guy selling real estate in SE Idaho
Good luck with your fire sale to raise x-mas funds for you and your buddies.
Comment By Joseph Monday, November 17, 2008 @ 6:58 AM
There is a big difference between economic conditions and financial conditions. Unlike Western Idaho, Southeastern Idaho is in a financially weaker condition due to lending requirements, but in a stronger economic condition due to low unemployment. People want to buy if they can get into a home. By lowering prices it may make it more affordable for a buyer to purchase a home and allow sellers to move on. I salute the Upper Vally Realtors for their efforts to help sell homes. Isn't that why they are hired? Some of you really need to think before submitting comments.
Comment By Boomer Tuesday, November 18, 2008 @ 1:27 PM
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