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Outside investors inflate Idaho Valley prices – Investors discover Treasure Valley real estate only a web site away

November 28, 2005 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Investors from outside the Treasure Valley have discovered Valley real estate.

But experts worry that the very things that make homes attractive to investors — affordable housing costs, a strong rental market, a superior quality of life — are threatened by the investment boom.

Property investors from California and other states are snapping up homes in Boise, Meridian and Eagle over the Internet and sight unseen. In the first nine months of 2005, Boise ranked fourth-highest in the nation for the share of home loans taken out by investors, according to LoanPerformance. Investors accounted for 20.5 percent of all home loans in the period — up from 11.4 percent in 2004 and 8 percent in 2003.

Kathleen Kreller
The Idaho Statesman

Full Story: http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20051127/NEWS01/511270340/1002

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