FEELING LUCKY?
THE POTENTIAL COST OF WAITING FOR PRICES TO DECLINE FURTHER!

Fact #1: Homes prices in the Treasure Valley have already corrected 12% to 25%
depending on the area, community & price point.

Fact #2: Rarely do historically LOW MORTGAGE RATES COINCIDE with LOW HOME PRICES!

Fact #3: Many have already forgotten that mortgage rates were as high as 6.5% in
October 2008!

“CREDIT SUISSE ESTIMATES that each rise of 0.10 PERCENTAGE POINT in MORTGAGE RATES
is EQUIVALENT TO A 1% RISE IN HOME PRICES.”
(Wall Street Journal/Rick Timiraos & Ruth Simon – May 29th, 2009)

EXAMPLE: $200,000 MORTGAGE, 30 YEAR AMORTIZATION @ A FIXED INTEREST RATE
versus $190,000 MORTGAGE:

Home Price               $200,000               $190,000
Rate                           Payment                Payment
5%                              $1073.64               $1019.96
5.25%                         $1104.41               $1049.19
5.5%                           $1135.58               $1078.80
5.75%                         $1167.15               $1108.79
6%                              $1199.00               $1139.15
6.25%                         $1231.43               $1169.86
6.5%                           $1264.14               $1200.93

CONCLUSION #1: A ½ point differential in mortgage rate WIPES OUT the $10,000
savings on price!

CONCLUSION #2: The difference between 5% and 6.5% interest on a $200,000
mortgage is $190.50

“The average rate for 30-year fixed-rate loans jumped to 5.44% on Thursday 5/28/09, the highest level since early February, according to a survey by HSH Associates, a financial 
publisher.  That was up from 5.29% on Wednesday 5/27/09, and 5.03% Tuesday 5/26/09.

FEELING LUCKY?  NOW IS THE TIME TO BUY!!!!

To learn more visit the #1 Online Resource for New Construction

www.NewConstructionBoise.com

I just arrived at Southfork Landing and was greeted by many of the new residents.  As I entered the property I was happy to see Mr. & Mrs. Canada Goose, quietly swimming with their new brood of 12 chicks in the placid waters of one of our ponds.  Reflected in this liquefied mirror, was the mountains and ghost like images of a herd of fifteen cow elk quietly attending to their calves, who hopped and skipped in the meadow, exuberantly testing new legs with obvious enthusiasm for life.  The wild flowers are just beginning to peak out and I observed a coyote hopping along a creek, consumed by the task of breakfast and focused on a muskrat navigating a tumbling brook anxiously looking for an escape.

 Beyond this scene, I was captivated by the beauty of spring showers rolling over the west end of the valley, bathed in intermittent sunlight that highlighted cumulus buildup.  The beauty of the scene compelled me to take a walk along the river, slowly clearing, as high country runoff diminishes with summer around the corner.  I was transformed by the different songs sung by a plethora of birds that seemed to orchestrate their serenade in concert with the cascading water seemingly impatient to find its way to the pacific ocean.

As I took all of this in, I thanked my lucky stars for the beauty of it all, anxious to share its magic with residents of a more human nature.

Joe Grubiak
43 Degrees North Real Estate
514-9258