Boise Bank Owned Listings
A popular word these days is “bank owned” or “REO” (real estate owned). If a home is bank-owned, it means a bank owns it and most likely wants to get it off their books ASAP. The bank is the seller of the home and has probably has taken the home back in a foreclosure proceeding. This is why Bank owned and Foreclosure are sometimes synonomous. A bank owned home is beneficial for a buyer because it usually means the home can be picked up at a great price and without the long wait time hearing back from the bank, like in a short sale. Most bank-owned homes in Idaho only take a few days for the bank to respond to a buyer’s offer.
One of the rumors we keep hearing on the street is the release of more bank owned homes in the treasure valley area the 1Q of 2011. This is called the shadow inventory; the properties the banks own and are holding onto, so as to regulate their introduction to the market over time- they do not want to flood the market with too many properties at once. If they did release a large amount of properties, the market might oversaturate and drop market values even further.
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Real estate in Boise, Meridian, Eagle and Nampa offers so many options to home buyers, we will make sure you explore every option available to you. Selling Real Estate in Boise, Meridian, Eagle or Nampa can be a stressful and difficult task. We will offer you the latest in Real Estate marketing, and are available to our clients 24/7. We believe in the Boise Idaho Real Estate Market & are personally invested. Whether you are a new or seasoned real estate investor, we will help you define and achieve your goals.
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