Boise, Idaho has been recognized many times over the last decade as a 'Best of' place to Live, Work and Play!
Boise, ID (PRWEB) July 22, 2012
Home Builders in Boise Idaho that a year ago were concerned if they would still be in business are now scrambling to find building lots. Building permits are up over 50% this year compared to 2011, which is another confirmation that Boise Idaho Real Estate has recovered but very few lots are available in desirable communities for small building companies.
In 2010, the market was saturated with empty subdivisions and scattered building lots but no demand. Developers were reaching their breaking point and could no longer afford the holding costs and banks were selling them off. Several larger building companies began to purchase entire subdivisions for less than it would cost to develop the lots. These builders were confident the new construction market would return and their investment would pay off as Boise, Idaho has been recognized many times over the last decade as a 'Best of' place to Live, Work and Play.
Now that the market has heated up, small builders who are not part of a community building team or don't already have lots cannot find affordable lots. This scenario has many nervous about what will happen moving forward. Will demand create a frenzy causing other builders to buy over priced lots? How will builders who have more expensive lots compete? There is a point at which it is not cost effective to build, unless the buyer is paying cash and wants a custom home.
About BuildIdaho.com- New Homes from the Ground Up!
BuildIdaho.com, founded by Trey Langford, is the most comprehensive guide to Boise Idaho Real Estate. Locate hundreds of new subdivisions, research local builders and search Boise homes for sale