Approved Meridian Idaho Short Sale

Approved Meridian Idaho Short Sale-This home is a one of a kind nestled in Iron Horse Estates. 1 acre lot with great views and privacy. Gourmet custom kitchen with cherry cabinets and granite slab counters that pop out against gorgeous hardwood floors. 10 ft. ceilings, 8 ft. solid core doors, 2 staircases, upgraded trim package, & 2 way fireplace in master bed/bath. A grand feeling from the tiled entryway to the formal living & dining rooms. Family room and office provide comfort & style that is breathtaking. Go to www.homeswithjosh.com and enter     Mls# 98426619

For more information about Meridian, Idaho short sales, Bank owned homes, Distressed properties, REO properties visit www.homeswithjosh.com or call 208-353-7131.

If you currently own a home and are having trouble making payments due to loss of income — Or your payment is too high and your home is worth much less than what is owed- Please visit www.idshortsale.com there is a short video and a confidential no obligation short sale application for you to fill out.

Listing source:IMLS

Boise Idaho Quick Facts

*  The greater Boise Valley is comprised of the following fast-growing communities: Boise, Meridian, Nampa, Eagle, Star, Emmett, Garden City, and Caldwell.
* Total Population within a 45-minute draw area: 632,000
* Average Age: 33.1 years
* Average Commute Time: 18 minutes
* Forbes, Wall Street Journal and Inc. Magazine rate Boise as one of the best places in the US to live and work.
* Money magazine rates the Boise Valley as one of the best places to live in the U.S.
* National Geographic Adventure says the Boise Valley is one of the Top 31 Best Live & Play Towns.
* The Boise Valley has a workforce of more than 280,000. Nearly 110,000 of the workforce are degreed workers.
* Workforce within a 45-minute draw area: 330,000
* The overall cost of doing business is nearly a third lower than in California or Washington.
* The cost of living is 96 percent of the national average, and the average cost of a home in the boise Valley is approximately $170,000 compared to a national average of $226,000.
* The Boise Valley is located 430 miles from the seaport terminal of Portland, Oregon; 384 miles south of Spokane, Washington; and 360 miles northwest of Salt Lake City, Utah.
* The airport serves more than 3 million people a year and is less than five miles from downtown Boise.
* Idaho Northern & Pacific Railroad (INPR) provides freight service over four branch lines in southwestern Idaho and northeastern Oregon.
* There have been more patents generated in the Boise Valley than any other region in the country
* Boise and Nampa, Idaho, are ranked as the most secure locations to live in the United States among large metropolitan areas with populations of 500,000 or greater. (Source: Third Annual Most Secure U.S. Places to Live rankings from Farmers Insurance Group of Companies)
* According to the National Census Bureau, Idaho is among the top five fastest growing states in the nation.

Idaho Top Ten In Foreclosure Filings

Idaho has slipped out of the top five for the most foreclosures, but expectations remain that the state will see a continue in its numbers.

RealtyTrac Inc., an online marketplace for foreclosure properties, Thursday said foreclosure filings increased 15% in January, compared to the previous year, but declined 10% from the previous month. Nevada, Arizona, California, and Florida posted top state foreclosure rates during the month. Further, RealtyTrac cautioned that the numbers may increase over the next few months.

While Financial News services writes The post-boom states of California, Nevada, Arizona and Florida still contribute more than half of filings, but Utah, Idaho and Illinois are starting to see foreclosures surge.

Only last week, it was reported Canyon County’s home defaults had dropped off in the last few months of 2009, but they came back with a vengeance in the first month of 2010.

The county’s foreclosures hit a high in January, rising from 214 filed in December to 365 filed in January for a total increase of 70.5 percent, according to IdahoDataProviders.com.

“What this all means is that you should brace yourself for a double dip in the housing market in 2010,” Charlie Nate, president of the foreclosure-tracking company, said in a release. “Look for local prices to still fall another 7% to 10% starting in the next few months. A bottom to the housing market and the beginning of a real recovery is unfortunately still at least one year away.”

Ada County’s number of foreclosures filed dropped 8 percent to 408 in January this year, a 19 percent increase from January 2009.

Short sales dropped 1.3 percent in the two counties in January, a lull which Nate calls the “calm before the storm.” He expects a new flood of short sales this year caused primarily by the U.S. Treasury Department’s Home Affordable Foreclosure Alternatives program, which must be implemented by April 5, 2010. The program requires each distressed property to first be considered for a loan modification, and then evaluated for a short sale or deed in lieu before a foreclosure can be initiated.

In its January 2010 U.S. Foreclosure Market Report, RealtyTrac stated foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 315,716 U.S. properties during the month. The report also showed that one in every 409 U.S. housing units received a foreclosure filing in January.

Real Estate Owned, or REO, activity nationwide increased 31percent from January 2009, but was down 5 percent from the previous month. Default notices rose 4percent from last year, but dropped 12percent from the previous month. Scheduled foreclosure auctions were up 15percent from last year and down 11 percent from last month.

Despite an year-over-year decrease of about 18 percent in foreclosure activity, Nevada’s foreclosure rate remained highest among the states for the 37th straight month. One in every 95 Nevada housing units received a foreclosure filing during the month, which is more than four times the national average.

Arizona’s foreclosure rate was the second highest among the states in January, owing to a 4 percent month-over-month increase in foreclosure activity. One in every 129 Arizona housing units received a foreclosure filing during the month, the seller of default data said.

In California and Florida, foreclosure activity decreased by double-digit percentages from the previous month, and the two states registered nearly identical foreclosure rates with one in every 187 housing units having received a foreclosure filing.

With one in every 231 housing units receiving a foreclosure filing, Utah registered the nation’s fifth highest state foreclosure rate, although foreclosure activity declined nearly 12% month-over-month.

Other states with foreclosure rates among the nation’s 10 highest were Idaho, Michigan, Illinois, Oregon and Georgia.

Further, RealtyTrac said California, Florida and Arizona posted the three highest state totals in terms of properties receiving foreclosure filings in January. These three states together accounted for more than 44 percent of the national total.

In California, total foreclosure filings were 71,817 and Florida reported 47,069 filings. In Arozona, 21,048 properties received foreclosure filings in January.

Source:IBR

FHA Short Sale Rules

Mortgagee Letter 2008-43 contains the new FHA short sale [a/k/a FHA Pre-Foreclosure Sale (PFS)] program guidelines.  It’s definitely an improvement for anyone involved in shorting an FHA loan.  Here’s some of what you need to know about the FHA PFS:

* They removed the calculation that required the property to appraise for at least 63% of the indebtedness (this is helpful because many properties have dropped below 37% of the mortgage balance).
* HUD used to accept 82% of the appraised value as their net – now it is 88% if it sells within 30-days marketing time, 86% if it sells in 60-days, and 84% after 60 days.
* Prior to ML 2008-43, HUD would pay zero buyer closing costs on an FHA short sale, now they will pay 1% of buyer’s closing costs if the new buyer is obtaining FHA financing.
* They’ve increased the amount allowable to discharge junior liens up to $2,500.
* FHA allows the seller to walk away with up to a $1,000 check at closing

With the increase we’ve had in FHA loan originations, everyone should expect more and more FHA short sales moving forward.  And I’ll conclude with one final comforting comment from our friends at HUD regarding deficiency judgments and FHA foreclosures:

“A PFS sale must be an outright sale of the property.  If a foreclosure occurs after the mortgagor unsuccessfully participated in the PFS process in good faith, neither the mortgagee nor HUD will pursue the mortgagor for a deficiency judgment.

FHA/PFS is becoming a kinder more gentle model.

Idaho Exports On The Rise

Export sales by Idaho companies grew by more than 3 percent from the third to fourth quarters of 2009, totaling $1.12 billion for October to December. Nationally, exports for the same period were nearly flat, at less than 1 percent growth.

Idaho export results in the fourth quarter increased by 5 percent from a year earlier.

“Idaho’s export results for the fourth quarter and for the year mirror the national economic conditions,” Damien Bard, administrator of the international division of the Idaho Department of Commerce, said in a release. “The growth shown in the last two quarters provide positive signs of an ongoing return to export health.”

Exchange rates are one factor in economic conditions that remain favorable for Idaho exporters, he later said in an interview. The semiconductor industry, which accounts for a large percentage of Idaho exports, remains down but is showing some signs of recovery, he said.

International sales of Idaho products for 2009 were down 22 percent compared to 2008’s record high, with U.S. exports down nearly 18 percent for the year, the Idaho Department of Commerce said. Significant declines in exports during the first three quarters of 2009 mean Idaho is still behind in its year-to-date results compared to 2008, when the value of state exports set a record at more than $5 billion for the full year. Idaho exports for 2009 totaled nearly $3.9 billion.

The top Idaho export category continues to be semiconductors, but exports of industrial equipment, precious metals, mineral concentrates, poultry and dairy products, fruit and seeds also grew during the fourth quarter.

The top export destinations for Idaho goods in 2009 were: Canada, Taiwan, China, Singapore and South Korea. In 2009, Idaho exported products to 150 countries.

Idaho companies export products ranging from integrated circuits to musical instruments to fresh produce. Idaho maintains trade offices in Taiwan, Mexico and China.

Source:IBR

F- 35 In Idaho

The U.S. Air Force has short-listed both Mountain Home Air Force Base and Boise’s Gowen Field as possible locations for the F-35 fighter aircraft. These new missions would secure operations at these bases for the next 50 years. This is no small matter, as these two military installations together provide more than $1.0 billion to the Idaho economy each year. If our bases are not chosen, their current missions could face phasing out in coming years, putting jobs and economic benefits at risk.

Here is how you can help: A series of environmental scoping meetings (in an open house format) will be held throughout February. We ask that you attend the most convenient one to learn more about the missions. Comment cards will be available so you can express your support. A schedule of these meetings is attached.

Idaho’s bases have already made the short list for these new operations; please help us pass this next critical hurdle.

Defaults Rise By 70% Canyon County

Canyon County’s home defaults had dropped off in the last few months of 2009, but they came back with a vengeance in the first month of 2010.

The county’s foreclosures hit a high in January, rising from 214 filed in December to 365 filed in January for a total increase of 70.5 percent, according to IdahoDataProviders.com.

“What this all means is that you should brace yourself for a double dip in the housing market in 2010,” Charlie Nate, president of the foreclosure-tracking company, said in a release. “Look for local prices to still fall another 7% to 10% starting in the next few months. A bottom to the housing market and the beginning of a real recovery is unfortunately still at least one year away.”

Ada County’s number of foreclosures filed dropped 8 percent to 408 in January this year, a 19 percent increase from January 2009.

Short sales dropped 1.3 percent in the two counties in January, a lull which Nate calls the “calm before the storm.” He expects a new flood of short sales this year caused primarily by the U.S. Treasury Department’s Home Affordable Foreclosure Alternatives program, which must be implemented by April 5, 2010. The program requires each distressed property to first be considered for a loan modification, and then evaluated for a short sale or deed in lieu before a foreclosure can be initiated. http://www.homeswithjosh.com

Source:IBR

For more information call Joshua Groesbeck 208-353-7131 or josh@homeswithjosh.com

Idaho Living

A statewide magazine of the highest quality, Explore Idaho encompasses everything exceptional about the state of Idaho: history and legend, hardworking people, dramatic vistas, recreational opportunities and enduring values.

The magazine is designed to appeal to a broad audience of outdoor, recreation and lifestyle enthusiasts. It speaks to everyone – from those who reside and work here to those who simply come for a visit.

Explore Idaho is more than just a list of outdoor activities, it’s about the people themselves who live here, many being descendents of those who settled here over the years in search of a better life – and found it.

The magazine reflects all the values that have long put the Gem State on a path of enduring grace and beauty. The pages personify an ever-growing number of people who regard Idaho as not merely a geographic locale, but also a state of mind and a way of life.

Explore Idaho is a hike in the Sawtooths, a wine tasting in Sunnyslope, a skiing or snowmobiling excursion to resort areas such as Sun Valley, Bogus or Brundage Mountain, or a rafting trip down the breathtaking Payette or Snake rivers.

Along the way, you’ll find out where to dine and where to stay, discover the state’s diverse arts, dining and culture scenes, and – most importantly – meet the people who shape Idaho’s identity.

source:IBR — Explore Idaho

Idaho Foreclosures

But, you have to act quickly. The tax credit applies to a principal residence bought by April 30, 2010, and you must close by June 30, 2010.

However, there are many misconceptions about who qualifies and for how much. Here are six essential facts about the tax credit.
The year-end totals are in, and Idaho ranks No. 6 for most per-property foreclosures in the nation.

A grand total of 17,161 properties were foreclosed on in 2009, or one in every 37 houses. That number is double what it was in 2008 and almost four times what it was in 2007, according to RealtyTrac.com.

Nevada fared the worst in the country, with one in every 10 properties entering foreclosure. Only 0.05 properties in Vermont, on the other end of the spectrum, went through foreclosure in 2009.

The national average was one in every 45 properties.

“As bad as the 2009 numbers are, they probably would have been worse if not for legislative and industry-related delays in processing delinquent loans,” RealtyTrac CEO James Saccacio said in a press release. “After peaking in July with over 361,000 homes receiving a foreclosure notice, we saw four straight monthly decreases driven primarily by short-term factors: trial loan modifications, state legislation extending the foreclosure process and an overwhelming volume of inventory clogging the foreclosure pipeline.

“Despite all the delays, foreclosure activity still hit a record high for our report in 2009, capped off by a substantial increase in December. In the long term a massive supply of delinquent loans continues to loom over the housing market, and many of those delinquencies will end up in the foreclosure process in 2010 and beyond as lenders gradually work their way through the backlog.”

Idaho Short Sale Application

Your confidential short sale application is now available by clicking here

http://www.homeswithjosh.com/home/short-sale-application/

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