Vacancy rates moved down slightly to 2.9% for the 4th quarter of 2015. This is a decrease of .7% from last quarter. The largest decrease in vacancy rates from last quarter was single family homes in Ada County at 1.3%. Canyon county single family had a decrease of .4%.
Rental rates in Ada County decreased on the average of $139 for single family homes. There was an overall decrease of $126 in rental rates for multi-family homes, in Ada County. On the average Ada County showed a $182 decrease in rental rates over last quarter. This large decrease is solely based on the competitive time of year and the fact that vacancies are much tougher to fill during the 4th quarter.
Rental rates in Canyon County showed an average decrease of $230, from last quarter. This large number is in part due to the increase in rental rates for Canyon County last quarter and directly related to the increase in rate 5 bedroom single family homes and again related to the competitive time of year.
Both Ada and Canyon County experienced significant vacancy decreases for the 4th
Quarter of 2015. Although both counties experienced the vacancy decrease, Ada County had the higher reduction in vacancy rates by 19% last quarter.
Data Reference - swidaho.narpm.org
We had a great turnout for last night's meeting. What a great way to send off yet another year. We had the pleasure of hosting motivational speaker Dr. Vincent Kituku, who's biggest take away from the evening was "keeping everything in perspective".
Along with our guest speaker, a real estate market update was presented along with some pointers about making the best use of your inspection contingency when you're in contract on a property. Our "Good News" segment featured recent release on job growth statistics for Idaho as well as approval on a development project sure to make an impact in Boise's Westend.
As always, we reserved the last portion of our meeting for open networking which gave all of our members a chance to meet one another & to be able to make those connections. Besides the education members receive at our monthly meetings, the Boise Investor Group places a large emphasis on the networking piece as we feel as though growing your contacts not only allows us to be able to learn from one another, but you may just find that next deal by simply striking up a conversation.
If you missed us this time, we host our monthly meeting the 2nd Thursday of every month & hope to see you out in January.
As Real Estate Investors we are always keeping an eye what clients, home-buyers and renters, are looking for. The best ways to make a home appeal to today’s home buyers and renters is by knowing what they are looking for. Beyond location and price point these are the home features that home-buyers and renters find most desirable.
*Based on median home prices in Ada and Canyon Counties ($229,900 and $142,000)
We had a fantastic turn out for our monthly meeting yesterday. Mr, Hargis, a local private lender gave our members an in depth presentation on Private Money For Your Real Estate Deals. During our presentation we were able to walk through on how to present your deal to a private lender, the basics of private lending i.e. typical terms & conditions, what to expect for closing time frames & most importantly if you're new to the business- what's the best way to get in with one of these types of lenders.
Along with our guest speaker, members had the opportunity both before & after the meeting to network with others. We feel this is a key element in not only expanding your contacts but being able to get deals done.
During each of our monthly meetings, we go over recent real estate market stats that include Ada & Canyon Counties, New Construction as well as any recently released rental data & news pertaining to our area.
If you missed us this time, we meet the 2nd Tuesday of every month. 6:30pm at Title One in Meridian.
Vacancy rates moved down slightly to 3.6% for the 3rd quarter of 2015. This is a decrease of .3% from last quarter.
The largest decrease in vacancy rates from last quarter was multi-family homes in Ada County. Canyon county multi-family had a decrease of .2% and single family homes where unchanged.
Rental rates in Ada County increased on the average of $22 for single family homes. There was an overall increase of $82 in rental rates for multi-family homes, in Ada County. On the average Ada County showed a $33 increase in rental rates over last quarter.
Rental rates in Canyon County showed an average increase of $54, from last quarter. The increase in rental rates for Canyon County was solely due to the increase in rates for 5 bedroom single family homes.
Both Ada and Canyon County experienced the vacancy decreases for the 3rd Quarter of 2015. Although both counties experienced the vacancy decrease, Ada County had the higher reduction in vacancy rates by a full .4% over last quarter.
Boise Investor Group