Two or three years ago, nearly two-thirds of our sales were short sale transactions.
With our improving Boise real estate market, things have changed.
Here’s a breakdown of our current short sale listing inventory.
- Total Available Listings: 2,013
- Total Short Sale Listings: 227
- Short Sale Listings With Accepted Offers: 179
- Unsold Short Sale Listings: 48 (only 2.4% of all available listings)
Some lenders have improved their short sale processing, but short sales remain difficult and often (usually?) take many months to close.
Short sale listings often attract multiple offers that drive the sales price up.
Ultimately, only one buyer gets the property and it’s usually the first buyer with an accepted offer.
Despite the perception that all short sales are good deals, many short sale properties are in poor condition and lenders require an appraisal (sometimes several) to ensure that the property sells for fair market value.
In general, the best buyer for a short sale listing is a buyer who doesn’t care if they get the property.
Data pertains to Ada County single-family homes on lot or acreage. Data does not include condo or townhome properties.