All Forum Posts by: Oren H.

Thanks @Ray Johnson!

We talked with a few local folks and realtors and indeed find that the market is cooling off. People mentioned that some folks are moving back as they need to get back to the office. Also heard that since house prices are declining some opt to buy. Seems that we need to be more aggressive with pricing the unit.

Thanks for the reply @Greg Weik!

I think my PM is doing a good job marketing the property and is very responsive and it seems the market is changing. They are managing 300+ properties and if they say 10% of their properties are sitting vacant right now that's alarming. That's not just my property but many properties across different neighborhoods.

I have already lowered prices and agree with your advice we need to live in the now.

Thanks for the answers!

My property is a 4 beds SFH. Probably a "b" neighborhood.

To clarify my question, I’m looking to hear if other investors in Boise are seeing a major slowdown in the rental market.

We’re having a hard time renting my property at Boise since it became vacant beginning of August. The property manager says the market has slowed down and they are experiencing around 10% vacancy across the properties they manage.

I was wondering if others have the same experience?

Thanks

I think we'll see a correction and prices going down, esp. in high demand/growing markets for a few reasons:

1. The big migration will slow down. Many of the people who moved away from high cost markets for remote work already did so. We will get closer to slower migration trends which will reduce demand in trending markets.

2. If we're headed toward a recession more people will lose their job. Also, stocks going down means investors and high earners have less money to invest. This will reduce demand as well.

3. Higher interest rates. If someone can afford, say, a $1200/mo mortgage, with higher interest rates it'll mean a lower price for the house.

With all the above, lower demand will lead to lower house prices (which I believe we already start seeing). I don't want to call this a "crash" though. More like a post-COVID, back to normal correction.

I'm in the process of buying a single family house in west Boise. The seller noted in the sellers disclosures that there is a shared well. He wasn't able to provide too many details, saying the irrigation uses a shared well managed by the HOA.

Should I be worried about it? What should I look into before closing?

Thanks!

Thanks all for your answers!

While shopping for insurance, I got quotes from different insurance providers. As far as I can tell, these offerings are pretty similar (same coverages, same deductibles, both replacement cost, both has loss of use, etc.) but the price differences between different providers can be significant (as an example, I have one quote from Safeco for over $1480 and one from National General for $1280, a $200 difference).

I have also tried to research the company itself, but found that all insurance providers receive very low reviews.

When I shop for insurance, I mostly want to be protected from big risks -- liability, fire, etc. -- and I want a company that will be there if/when I actually need it.

Should I just ensure I have the basic protections and go with the cheapest quote? Are there major differences between insurance providers that might justify going with a more expensive options even if the coverages are more or less the same? What else do you look at when comparing quotes from different providers?

Thanks a lot for the help!

Hey, I was wondering if folks on this thread know of any updates to the Fort McPherson development?

Thanks!

Thanks all for the help. I have talked with the property manager and they'll bring an engineer to check it out and also to verify any work.