Many of us known Kim from her tireless efforts on behalf of Kinderhaven where she is President and served on the Board of Directors.  She has over 20 years of financial field experience and will need every bit of that experience to work with Sandpoint businesses.

The numbers are in for March 2009 and overall existing home sales which include co-ops, townhomes, and condos dropped three percent nationally.   Sales across the country were 7.1% lower than March of 2008.

I am cautioning my buyer clients to not react to every up and down in the marketplace.  Investors and first-time homebuyers are driving the market up in many areas due to the inventory of affordable homes and foreclosures coupled with stimulus inspired tax credits for the first time buyers.

Looking back at the available data from March it is noteworthy that distressed properties were the star of nearly half of March 2009’s transactions.   Not a surprise considering that they typically sold for 20 percent less than traditional homes according to the National Association of Realtors (NAR).

One reason for this segment of the market leading the way is due to the higher interest rates on jumbo loans where completed transactions have come to a crawl around the country.  The opportunities for investors in Sandpoint are expanding from pre-foreclosures and foreclosures to include a spectrum of distressed properties.

Before you make a move make sure you talk to a Consultant and Realtor that knows the details of the local market in and around Sandpoint, Idaho.  Got questions?  Ask Ray.

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.  Do you have questions?  Ask Ray.