Meridian, ID – Meridian, Idaho real estate agent John Espinosa says that high foreclosure inventory has brought out bargain hunters looking for good deals on primary residences and investment properties in the Boise area.
According to Espinosa, as the mortgage crisis works its way through the system, and unemployment continues to plague the economy, more Meridian foreclosures end up as bank owned property. He says that means one thing: Lower prices for buyers.
"In this economy, everyone wants to tighten up on debt and reduce their monthly bills. For those who are able to take advantage of what the market is offering, it may actually be cheaper to buy than to rent."
"Meridian real estate buyers have been handed an amazing gift right now in that bank owned inventory has made prices very reasonable. The average buyer can afford twice the house or more compared to several years ago."
He says this is due to the double-impact of lower prices and lower rates. For those who have come out of the economy unscathed by negative credit, extremely low rates and prices combined mean a bigger and better house and more economic security.
Espinosa says many potential buyers might be surprised not only to know they qualify to buy a home, but to know how much home they can afford with today's prices.
"Yes, the economy has been tough in many respects, but I'm optimistic and look at the low prices as a blessing for those who have always thought home ownership was not attainable. They shouldn’t rule it out without talking to me first."
For more information, contact:
John Espinosa
RE/MAX Advantage
5680 E Franklin Rd, Suite 100
Nampa ID 83687
208-484-7837
http://www.meridianidhomes.com
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