Move to Boise....house FOUND!!!

Like the title says, my wife and I are trying to move to the Treasure Valley ASAP. The problem is being the market is INSANE in the area right now, 15-20 offers PER HOUSE. We’ve written 4 offers so far and only been able to submit 1 before a house went under contract....and even then we were 6th in line out of 15 offers. The house was only on the market for 2 days!!! This is insane! How am I supposed to compete when I have to get a mortgage when people are coming in with full cash offers, no appraisal, and 30-40k OVER asking!?!? I feel hopeless right now. I have to be there in person by March 1st for my job with the state, that I’m starting fully remote on Dec 28th, and my current home is in contract with provisional close date of 1/22/2021. Regardless of having a house to move to I will be moving when it closes. I don’t have time to do a new build and I don’t have the money either quite honestly. If y’all know of anyone wanting to sell their house in the treasure valley for 350k or under....let me know!!!!! Thank you!

 

Have you checked meridian? A buddy of mine is moving out there soon.

 

Around here the market is insane now too. If this works for your family; you are in a unique position to hang on to your equity and find a place to rent.
Hear me out... the market will probably have a big correction in the next year or two. You can be choosy and jump on something when its a buyers market.
This will also give you time in the area to figure out where you want to live and if it applies, ideal schools.

Just a thought to maximize your $

 

This is not a political post at all so I will try to word it as such.

You are competing with hundreds of thousands of people who are fleeing states near Idaho that have shown how they react to real world situations. So the people who do not agree with certain situations said states have enforced or conversely not enforced are fed up with something that is causing them to leave as fast as possible. Whatever that something is, I will let the reader decide.

Idaho is (maybe for a few more years until it changes due to influx of people) a state known for certain view points that some people gravitate towards. Others do not, but will vote the changes they want into law so that it will turn into the state they left. Think Colorado now versus Colorado in the 1980-1990’s. Idaho is the new Colorado.

Additionally, people can sell their homes in states around you for very high prices and move to Idaho which has a much lower tax rate. It is a win win for them. Lose Lose for Idaho.

Your only option is to rent or look at places thirty minutes to an hour away and commute like a real Idahoan. Good luck sir. Do not be upset if the locals are not friendly. Much like your state of Montana. You have seen what has happened to western Montana over the last five years alone. It’s the same people moving there also then being appalled that people eat the meat they shoot or let their little girls ride big horses etc etc.

 

I’m willing to bet it’s much more to do with being able to work remotely, so why not sell your expensive house and move to Idaho where your 800k to 1.5mill equity buys a hell of a lot of house.

A good friend of mine is in construction in MT. He echoes my thoughts. Bike, ski, hike, why not?

 

I would not take that bet. I’ve watched similar markets continue to skyrocket, and with the increase in remote work I think the trend will continue.

 

Honestly, I think you should strongly rethink a new build. My last two purchases in Idaho have been new builds and I have made serious equity in both. Sure the market has increased a bunch in the last 4 years but I honestly don’t think you pay more for a new build in this market.

 

In the last year material costs have nearly doubled. Not sure you'll get the same kind of equity now as you would have just a year or two ago.

 

Exactly. Nobody knows, because if they did then they'd be rich being able to predict stuff like that. Any combination of scenarios could play out, where his current market could tank and Boise could go up, both tank, both keep going up, etc. All you know is what is happening now, so make your decision based on that.

 

Sorry to hear of your predicament, OP. Sounds like the market there is about as bad as Nashville. I sold my last house for well over asking price in 2015 before noon the day we listed it. We had multiple offers. That is still happening here.

If your realtor is showing you homes the second or third day after they list, you might need a new realtor.

 

That may be true. I went under contract Dec 19 and haven’t had an urge to even look at the market since.

This post is making me think about selling again though....

 

You and everyone else, buddy. Sorry, my man. You can thank the Californians.

 

Thanks for all the replies guys. We’re looking everywhere, Nampa, Middleton, Kuna, Meridian, etc. I don’t mind a commute, just can’t find any house. My realtor is my best friend and while new....he’s showing me stuff day of list, working on trying to track down “coming soon” properties, and looking into any potential new build spec houses that may be coming for sale but so far no dice. We’ve viewed idk....10 properties so far and talked about various others, and tried to put offers in on 4 of those, struck out on all of em. I’m not opposed to new build but I’ll have to find somewhere to rent....at 15-2000 a month while it’s built. I can’t do apartment due to dogs, nobody can take them temporarily and I’m not getting rid of them either, no way. I also have a camper that I need to be able to park and No new build in my price range will be having camper parking....so I’ll need to pay to store it should I go that route. On top of that our first kiddo is on the way....so tons of extra money going into that. I’m stuck and I don’t like it.

 

Exactly......idk when but something has got to give.

 

For sure for sure. My buddy said we can move in with them for a while and just put stuff in storage....but I don’t wanna be there for super long, a few weeks. Give me time to find a place to rent while we look. My parents house closes the 20th of January as well. We won’t be homeless but will be less than ideal for a bit but we can do it. Better than living in the 24’ camper with 2 dogs, a cat, and my wife

110% on the patience. We are going conventional loan, I wasn’t military. We’ll find something just have to be patient.

 

Shiiiit... tell me about it.. I fucked up choosing said location, due to some personal issues, and I know what you mean, lol... I can never buy here regardless of what I do... Almost got evicted for paying my rent on time, because the owners wanted to sell the house, and we were a nuisance to their sale... Had 40+ people come through said house on a biweekly basis, and I'm not exaggerating... People be lined up down the street paying 2x asking price for a dumpster fire... They offer classes near by about purchasing houses in other states as income properties, so even if I leave, I'll still be facing these same people somewhere else...

 

Good point, seams crazy but it could just keep climbing for years.

 

Jesus, that's discouraging. I live in Lake Tahoe and dislike the changes that the influx of San Francisco bay area tech people have brought: Calling animal control about off-leash dogs, driving through small towns like city folks, not saying HI passing by on a trail or sidewalk, doing stupid shit around bears and just doing stupid city people shit in general, and generally reeking of entitlement and money in a manner that is offensive to most locals. I don't need to mention creating an insane scarcity of affordable real estate, and don't even get me started about disregarding COVID stay-at-home orders. A lot of long time locals are fed up and looking to get the hell out.

On a road trip, I drove through Wallace and Osburn and really liked the quaintness and proximity to mellow ski hills. Then I started kinda half ass following the real estate market, stuff is reasonably priced, I'm retired, might be a fun adventure to take the girl and dogs and move. Then I read that Boise is like 4th in the nation at building new homes! I feel like the same awful fate that Tahoe is undergoing will be happening to Wallace, Osburn, and areas around, as Boise suburbanites sprawl out for hours in all directions looking for more affordable housing in the next 5-10 years.

Is there nowhere left in this country where you can get away from city people and enjoy a little winter skiing and summertime camping with the dogs, that isn't hotter than hell or flat as a pancake?

 

Not really.

 

Nope. The problem with places people want to be is that stupid people want to be there, too. Just gotta roll with it.

 

This is the same boat I am in.. but I don’t own a house so don’t have that big wad of equity like a lot of Californians.. The wife and I have just finally agreed that owning a house in the Bay is just too far out of reach but with WFH going we could relocate and get some more space for our three kids.

I truly wish you the Best of luck OP, Boise was on our list of Cities and we have seen the same issue. Houses gone same day and well over asking, this sucks.

 

It’s happening where I live as well. We’ll make a killing when we sell eventually, but then we have to find somewhere to go to.

 

That’s what they said in 2008...no way I’d buy a house in today’s market. I’d love to sell but I don’t want to live in an apt. There’s a seismic shift in the economy right now, and what’s driving the housing market bubble doesn’t make sense to me. Interest rates are at an all time low I get that, are we just replaying what happened in 2008?

 

I am in Charleston SC now and since Covid hit, our state never really went into a full lock down. This equated to people from north of Virginia moving to Charleston at a rate (heard on local news radio per our DMV records) of 30 new people a day.

We have a small island called Sullivan’s island. Homes there go from 1-3 million due to being on the beach. A person listed their home almost as a joke for 7 million and it sold in a week. Someone can cash out of a New York lifestyle, work remotely and live at the beach with no riots or protests at a beach that never closed? Same as moving to Idaho. Charleston homes will sell in days also. I have to imagine it’s the same everywhere else too.

 

Its everywhere. My husband just sold his house next to Boston for $25k over asking, was on the market less than 2 days, and had 16 offers with 12 more showings scheduled.
Hes been trying to find land in VT to build on for the last 6 months and cant even look at it before it sells. Its out of control. If I didnt have my house, we’d be in a four season camper right now, honestly. And even then, we cant find the Grand Design model we like anywhere in the country.
But a four season camper works in a pinch if you cant find a house..

 

West Virginia......just have to find the right area.....and don't piss off the locals

Central to Western Pennsylvania....same rules apply

 

Some good advice here OP.
we rented. Lost some houses that we put offers on, etc. it was super frustrating and we were getting desperate.
We fortunately lucked into a spot that was on the market forever and just looked awful online / listing. New kitchen (and some other things) later and voila - transformed the house. Did the rental thing. Stayed with friends for a long weekend before we could move in due to closing / attorney / beaurocratic shenanigans. I don’t envy you. Be patient the right home will be there when you need it, instead of when you want it.

 

Siiigh. This thread is depressing.

OP, good luck on your house hunt.

 

Yep, real estate is crazy right now. Looking to sell my house here in Georgia and move out west to Bend, Or in the spring. I was lucky to buy at the right time almost 5 years ago and have really good equity in it. Since everything's more expensive now and keeps going up you're not really "ahead" of the game though. Seems like out west is even crazier with home prices skyrocketing. Bend is known for getting lots of Californian's moving there the last 10-15 years which made the prices go way up which in turn made lots of long time Bend residents move away. My mom and sister live out there and say its definitely hard to find something because of the same issue the OP mentioned. I do have a step sister there as well that's a real estate agent so I'm hoping she can find something for me before it "lists." Use to be a small resort town, now the Comifornians have flocked there. It's still an awesome place though. Can't beat the scenery. Anyway, just my 2 cents.

Wish I new of a place that's awesome scenery, not overcrowded, and affordable. But I guess everyone would be there too.