Just over 14 rolling, timbered acres of peaceful Idaho beauty on Camps Canyon Rd. outside of Troy. The driveway is in and there is a power line across the southern end of the property. Pick a building spot and get ready to enjoy this property. A seasonal creek runs through this property and there are plenty of wildlife signs. Only a few minutes from the town of Troy for basic needs and just a little farther to get to Moscow for other needs.
“The spring market is here and it’s definitely moving. Perhaps not in ways predicted or planned, but very much so moving.
First, it’s all about interest rates. We are in the most interest-rate-sensitive environment I have seen in my 22 years of working in the industry. Even small reductions in mortgage rates cause activity to noticeably increase, and conversely when they increase the activity decreases. The correlation in activity is clear between the two directions.
However, not all real estate is created equal. Generally, for residential real estate (homes on lots and some condominiums), the market is pivoting right around the
$500,000 mark. If you’re looking at a home below this price, prepare for competition. This means multiple offers, escalations, and love letters to the seller to convince them their home is the most amazing thing since the invention of the wheel.
Above the $500,000 mark, things slow the farther away you get from that $500k mark. However, it’s certainly not dead. In this price range, we are slowly moving toward an in-balance market where there is as much supply as there is demand, however, we’re not there yet. It’s still tilted in the seller’s favor as a seller’s market. In this price range, you can expect sellers who may be more willing to negotiate terms. Of course, as we say, “Never underestimate cute” (You can also substitute amazing, cool, unique, or several other adjectives here). This means truly unique properties will buck the trends and command even more favorable terms to the seller than the norm.
Bare land is still moving well. Properties closer or in Moscow are moving slightly slower than in years past, but they are by no means stagnant. As the snow comes out of the hills, rural land and recreational properties should see increased activity. We have had less inventory of rural, bare land than in years past and that keeps the buyer side of the market “hungry”.
A Latah Realty agent knows these things and the nuances that make a property what it is. A Latah Realty pro in your corner can help you navigate and advise you on how to best proceed to your advantage.”
Sean Wilson 04/11/2024
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