Homes for Sale in Meridian, Idaho < 1 Million

Are you ready to rumble? If you’re planning on purchasing a home in Meridian get ready for multiple offer situations that sometimes turn into all-out bidding wars.

Go ahead; check the date this was written. Surprised? Yes, it sounds like the Meridian real estate market of years ago but it’s happening now, while a lot of other cities across the nation are still experiencing price drops and massive foreclosure rates.

There are several forces at work here in the Meridian real estate market:

 

  • While there are fewer homes for sale in Meridian now than in the past, the number of homebuyers in the market has risen, due mainly to incredibly low mortgage interest rates. It’s supply and demand at work.

 

  • Meridian residents have a higher median income than Idaho’s average and homes hold their value better here than in many other cities. Additionally, Meridian residents have a strong sense of community and neighborhood pride. All of these facts combine to make homes for sale in Meridian in high demand.

 

  • Rents are rising rapidly, prompting many tenants to stop renting and purchase a home in Meridian.

 

Consider New Construction in Meridian

One way to avoid getting into a multiple offer situation is to consider purchasing new construction in Meridian. New subdivisions are either in the planning stages or popping up all over the Treasure Valley. I counted 15 new developments in SE Meridian alone.

I am happy to show you any of the newly constructed homes in Meridian, so feel free to email me or give me call.

Existing Homes in Meridian

As I mentioned earlier, I’m starting to see multiple offer situations on existing homes for sale in Meridian, especially in the price ranges below $175,000. Now, this shouldn’t scare you out of the market. The best move you can make is to go into the process fully prepared to present the cleanest, best offer you can. Here are a few tips:

 

  • Get pre-approved for a mortgage. In a multiple offer situation, the buyer that pays cash typically prevails. If no cash offers come in, the buyer that proves he or she can get a mortgage is usually placed at the top of all other bids.

 

  • Plan on looking at homes at the lower level of your budget, as you may have to come in higher than the list price to win. Some sellers are getting offers that are as much as $10,000 over the list price.

 

  • Make a clean offer to purchase: financing in order, few to no concessions and a fair price.

 

As you can no doubt see, the your real estate agent’s experience has a lot to do with the outcome of your Meridian home purchase. I’m ready to enter the battle with you so feel free to email or call and we’ll get started on finding your ideal home in Meridian.

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