Time sure does seem to be flying by so far this year.  We are excited to see the snow melting and the season changing.

As we inch closer to the end of the 1st Quarter, it is interesting to take a look at how this year compares to last year and all other previous years in the real estate market.  The East Idaho Real Estate market is still adjusting and in a period of transition.  It appears as though this year is off to a better start than last year.  This is a good sign, especially when you take into account that last year we were still using the Federal Governments 1st time buyer tax credit of $8000.  I will try and update this blog with the latest East Idaho Real Estate Statistics each quarter.  As you look at the graph below you can see that the first part of each year is typically the slow time of year.  January of 2009 and 2010 were very similar in the number of transaction sold and we did not see the sharp drop late last year.

East Idaho Real Estate Stats

So what is the difference this year versus last year?  In my opinion, buyers are anxious to buy and take advantage of the low interest rates and the deals on homes that we have not had for several years.  If any of you are buyers and thinking of taking advantage of the deals out there now, please contact me and lets get something going.  Take advantage of these low interest rates; take this into consideration: if you were trying to keep your payment at $1200 per month for PITI (Principal, Interest, Taxes, Insurance) a 2% raise in interest rates would limit the price range of a home you could afford by nearly $38,000 which also is going to make a big difference in the age of home and size of home.

Thank you for taking time to read this blog, please contact me if you have any questions or if you have suggestions for future blog articles