Fixer shacks in Caldwell in the $50k's to starter homes in Boise, homes with acreage in Kuna to luxury homes in exclusive Eagle subs, even a 4-plex and million-dollar mansion- there are over 220 homes available today (August 1st) in Ada & Canyon Counties owned by a bank, mortgage company or by Freddie Mac(FHLMC)or Fannie Mae(FNMA), who buy the loans on the secondary market and sell them to investors.
Just 7 years ago, I was tracking over 250 available foreclosed houses at a much higher percentage of total inventory. The boom shrank foreclosure inventory to almost zero in mid 2007, but has been steadily climbing for almost a year. Inventory will continue to grow into 2009, as repos follow nearly a year behind the market.

Most foreclosures; foreclosed or repossessed homes, what I call Repos, have been vacant for many months and will need repairs. Few, if any, lenders will water the lawns or make repairs. Condition may range from filthy dirty to pristine like-new.

These institutions have no love for these homes, unlike a typical seller. Due to the as-is nature of the sale, a discount is common. Year to date, June 10th, these sellers in Ada County have accepted 4.8% off asking, on average, not counting closing costs commonly paid for buyers, which could be 3% or more. The largest discount was over 17% off asking. The real market value was probably much higher.

At all times, I am tracking these bargains in Boise, Meridian, Eagle, Star, Kuna, Nampa, Caldwell & Middleton. Be it your first home, next home, first fixer-upper or 10th rental, start with a below-market buy and the safety of instant equity. My specialty- call me today.

In Idaho, any seller of 1-4 unit residential property, must provide a disclosure of the property condition, its components and any negative material facts or adverse conditions they are aware of during their ownership. Sellers who acquire homes through foreclosure are exempt from this law.

The best way to protect yourself is to first hire a RE Broker with experience in these types of sales to represent & protect you from costly mistakes. I know from experience the minimum price certain sellers will take, who will or won't allow inspection contingencies and consider repairs, which closing costs they'll pay and much more from the hundreds of offers I've written and closings I've attended. Let me put my expertise to work for you today.

Choose your agent first. I am a very experienced full-time real estate professional who can represent you on any home and get paid by the seller. Clients who hire me get full access to my daily lists of bargain-priced homes in the Boise Metro, including pre-foreclosures, foreclosed & repossessed homes; HUD, VA & Bank Repos, Pre-Foreclosures, Short Sales, Fixers, Rentals and my Market Monitor protected by password.

If you are not a competing Realtor, or working with one, and will promise to buy through me whatever you find on my website, I may give you the password on a temporary basis.

If you have the current password, click on the Bank Repos w Password button in the left margin. Let's get busy building your wealth!