Back to Results
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
The boost in home sales produced by federal stimulus tax incentives wound down quickly in Idaho, one of the most troubled states in the country in terms of foreclosures. Home prices have been rapidly declining in just about every market in the state, despite its picturesque beauty.
However, there are some promising signs for the state as its markets sustain the downturn in real estate. The inventory of homes listed for sale is dropping in most areas of the state as bargain hunters come in to buy up foreclosures and short sales. Unemployment is hurting Idaho, where the boom in housing once hit record heights, but some employers are talking about hiring back workers.
When discussing this scenario with my clients, I remind them that financial advisors conservatively plan for a rate of return of at least 6% for a long-term investment portfolio. With interest rates currently as low as 4% right now, it seems to make sense to finance the purchase and let your money grow at a higher rate of return. Additionally, you may receive tax benefits in the form of deductible mortgage interest. There's certainly more angles to consider that you may want to discuss with your financial planner and accountant, however, in the majority of circumstances financing your purchase provides for a more efficient allocation of your funds.
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $249,900
For Sale: $260,000
For Sale: $619,000