Boise real estate short sales and foreclosures
Boise Idaho's real estate market has remained a very steady and stable real estate market. However, it is not exempt from the short sales and foreclosures that has hit the majority of the country. A "Short Sale" means the bank that holds the mortgage on a particular home is willing to accept a discount on the amount of money that is owed to them. Banks are more willing to work with a home owner because the cost of foreclosure can be very high in terms of the time involved and the cost of attorney fees and holding a property.
Short Sales can take some time because there is a timely procedure that must take place. Once an offer is placed on a short sale property the offer is submitted to the mortgage holder and that mortgage holder has a long list of procedures that must be followed to determine if the offer is acceptable. It is not unusual for this procedure to take 5-6 weeks or longer.
A foreclosure is when the homeowner has given up on making mortgage payments, a short sale was either not an option or failed, and the mortgage holder or one of it's service agencies now owns the home. In most cases these homes can have yards that need a lot of help and many of the homes have been stripped of appliances and other permanent fixtures. Just like short sales "Foreclosures" are sold in "As Is" condition with no warranties expressed or implied.
You can go to one site to search for many of the areas short sales and foreclosures. Simply go to www.SearchIdahoHomes.com to get started. Just click the "Search MLS Listings" and you will be well on your way. Have questions? Feel free to call me directly at 208-880-2333 or email me at email@example.com