Idaho Foreclosures are Available for Those Looking for That First Home in a Great Area for Families
Idaho unemployment has remained nominally greater than the nationwide rate over the last year. This does not appear to have had a huge effect on the rate of Idaho foreclosures, as there are only 8,500 foreclosed homes for sale in the state with an average listed price of $139,200.
This is a rate similar to the states of Montana and Wyoming to the east, but somewhat less than the more populated states of Washington, Oregon and Utah. Nevada, of course, is a whole different case with huge foreclosure problems.
The economy of the state is historically based on agriculture, forest products and mining. Known as the Gem State, Idaho has been the source of the largest variety of gemstones of any U.S. state. More recently, the economy is beginning to expand with more high-tech firms finding a home in the area, particularly in the Boise metro area. As a sample, a large number of call centers have sprung up there.
The price of settled sales in the last month rose in Coeur d’Alene as foreclosures rose by 14.13 percent. In the area, there are currently 318 foreclosed homes on the market at an average price of $141,800. Coeur d’Alene is in the northern portion of the state in an urban area that extends into Spokane, Washington.
Sales prices for many other towns and cities in the greater Boise area fell during the last month. The price of Caldwell foreclosures fell by 8.94 percent, where there are currently 470 foreclosed homes for sale at an average price of $87,000.
In Kuna, the price of foreclosures fell by 14.74 percent, and there are currently 179 foreclosed homes for sale at an average price of $125,200. The price of Nampa foreclosures fell by 0.52 percent, with 979 foreclosed homes for sale right now at an average price of $89,500. Also, the price of Meridian foreclosures fell by 25.04 percent, and there are currently 549 foreclosed homes for sale at an average price of $166,000.
Idaho is in an area well known for wide-open vistas, huge mountains, rushing rivers, and excellent outdoor activities year round. Skiing, camping, fishing, hunting, kayaking, and hiking are all activities that are enjoyed by Idaho residents.
For families looking to live in an area that is more open, a move to Idaho can be a great solution. Home prices that have resulted from Idaho foreclosures make it possible for families looking to become homeowners for the first time to buy now. The prices, together with the historically low mortgage interest rates, make now a time to start a search for a new home.
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