The Devastating Consequences Of Foreclosure In Boise For House Sellers

If you are trying to sell your house, you may be finding that it is more difficult than you had expected… especially if your house has any repairs needed that buyers just don’t want to deal with.

If you are facing foreclosure in Idaho, we’ve created an informative video series to walk you through each step and answer questions you may have. It’s important to understand the process and inform yourself.

In this article we’ll dive into some of the devastating consequences of foreclosure in Boise for house sellers. 

Local Boise House Buyers Have Lots Of Options For Houses But Fewer Options For Financing

What does the market look like in the Boise area?

There are floods of homes on the market, and thanks to the economic turmoil in recent past (and still going on in some areas), some types of houses just aren’t selling as fast as they were 5 years ago… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range) are selling at a good clip.

Part of it is because lending guidelines have changed since the housing collapse so fewer buyers are out there for some homes… there are still stockpiles of foreclosed houses in Boise that keep trickling into the market from banks… and buyers are more choosy than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate a 3%+ a year in value.

If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Boise house fast, right?

If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs), but are still having a hard time selling your Boise house, you aren’t alone. A buyer’s market makes conditions hard for seller’s to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are dealing with.

Worse yet, due to the devastating consequences of foreclosure in Boise, many sellers in the area who hold out for the price they want are getting little action and no offers at all… sometimes leaving the house on the market for months on end.

How Foreclosures Have Driven Local Housing Prices Down

When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Boise. That means that there is more inventory on the market. When that happens, that drives the price of everyone’s house down because there are more options (at lower prices) for buyers out there.

When there is more inventory than buyers, it devalues the homes for sale.

While Boise and the Treasure Valley have seen strong market recovery, foreclosure properties remain a reality in the Boise area — and local banks are still sitting on a significant number of homes that haven’t even hit the market yet.

But, there are some things you can do in this market to reach your goals with selling your house.

Selling Your House In A High Foreclosure Market

If you’re wanting (or needing) to sell your house you’ve got a couple options you should look at.

1. If you don’t need to sell your house fast and can afford to wait… Work With a Trusted Local Real Estate Agent:  If you’re not in a rush and can comfortably cover real estate agent commissions, it may make sense to wait for the right buyer and the price you deserve. The market continues to improve, and holding out another year could mean more money in your pocket. A knowledgeable local agent can list your home, market it effectively, and help attract qualified buyers. With over 17 years of experience in the Idaho market, we know some outstanding local agents who consistently deliver results. If you need a recommendation, we’re happy to connect you with someone we trust. Send us a quick message for a Boise area real estate agent referral.
2. If you DO need to sell your house fast… consider a direct sale option like working with us: Selling quickly in today’s market can be a real challenge through traditional real estate — unless you’re willing to slash your asking price significantly. And after that discount, you’re still handing over thousands in agent commissions, which takes even more money out of your pocket.
   
   A smarter option is selling directly to a local real estate investment company like Idaho House Buyer. We buy Boise houses and can deliver a fair cash offer within 24 hours. We’re not here to list your home — we’re here to buy it. After the purchase, we handle all repair costs ourselves, then either hold the property as a rental or invest our time, money, and 17+ years of Idaho market expertise into reselling it to another homeowner. It’s a true win-win-win. We can’t offer full retail value — we do need room to make a profit — but you will never pay us any fees or commissions.

Reach Out To Us To Sell Your Boise Idaho House Fast… Even In A Market Like Today’s

Have questions about our Boise home buying service? Reach out to us anytime — with 17+ years of local experience, we can offer solutions you may not have thought of. We can also connect you with a local real estate agent if that’s what would best suit your situation.

You can call us at 208-581-5424 or reach out to us over on our Contact Page.

Or, if you’re ready to receive a fair cash offer on your home today, simply click the link below to access our “Fast Offer” form… fill in a few basic details about your property and our experienced local team will take it from there!