Sandpoint Foreclosures Cripple Families

In a month that brought us some terrific skiing at Schweitzer Mountain Resort, some joy at Winter Carnival and an exciting Rail Jam downtown we are reminded that we have every reason to come together as a community during these difficult days.

Sandpoint foreclosures rose again this month and Idaho’s total is nearly 1,800 homes or another 16% plus increase over January’s huge number.

Many buyers in Sandpoint, Idaho come from other places in America where our previously high prices were still considered a bargain compared to those states they left.

If people cannot sell their properties in these other states they cannot afford to build or purchase in Sandpoint.

When those folks can actually divest of their properties they will then be able to purchase in our area so there is a direct effect on our community by the real estate hardships begin experienced in other parts of the country.

Commercial properties are leasing at the most affordable rates ever and you can see a huge difference in lease price per square foot in the Cedar Street Bridge and the new Panhandle State Bank building on Fifth Avenue.

Rental homes are negotiable where in the past there was largely a “take it or leave it” stance on the rental fee.   We are also wrapping up what is being described as the worst winter on record since Spokane, Washington started keeping weather data.

Many investors believe that now is the time to position them in the Sandpoint, Idaho marketplace to construct a transaction that promises to deliver the greatest yield in a revived economy.

I am convinced this is the year when well informed investors can make profitable choices while helping others reduce the financial stress in their home.

Tags: investors, Panhandle State Bank