Idaho

Bringing the Economy Home

“Worst Place To Buy” Ranking Is Fine News For Boise Homeowners

Tim Boyle / Getty Images

Housing data provider RealtyTrac is out with new numbers that show Boise is one of the worst places to buy a foreclosure. That’s not a bad thing.

“Certainly from the perspective of homeowners in that market, it’s a good thing to be on that worst list,” says RealtyTrac vice president Daren Blomquist. “Really what that means is there’s not a big backlog of foreclosure inventory that needs to be sold in that market.”

The ranking is based on a handful of factors in addition to how many foreclosures are available for sale. It looks at the discounts available on foreclosed homes, and how much local foreclosure activity increased or decreased over the last year. 

What all of those numbers show is this: After getting hit hard in the housing crisis, Boise is doing fairly well. It still has a higher than average foreclosure rate, but its number of foreclosures fell by more than 27 percent from 2011 to 2012. Demand is strong.

Boise may be a bad place to buy a foreclosure, but it’s becoming a better place to own a home.

Comments

  • http://twitter.com/gailhartnett Gail Hartnett

    Need to read this in entirety! It’s all good!

  • Heidi

    The title of this article is misleading;
    you may unintentionally cause people to think that Boise is a terrible place to
    buy a home when in reality it is not.

    • http://stateimpact.npr.org/idaho Emilie Ritter Saunders

      Thanks for the feedback Heidi. We hope the headline encourages readers to find out why this “worst” designation is a good thing!

  • http://www.BuildIdaho.com Trey Langford

    The under bidding the asking price days have ceased.

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