The Next “Eagle”
That was what many people (mostly real estate agents) have been calling Star, Idaho for the past few years. It seems only right for people to make silly predictions when a town like Eagle can sneak up on them and become immensely popular, seemingly, overnight. So, many predicted that Star would be the next Eagle.
Enter the real estate boom and bust.
It is common knowledge on Wall Street that if you hear a great stock tip on the news, it is probably too late to buy. This is somewhat true in real estate. If enough people go around saying that one town or another is going to be the next “hot” market, it is probably too late to jump in and make a profit (although it might not be too late to buy and live there).
Well, Star saw a great deal of interest as the market got hotter in the valley and it appears that a few developers showed up late and missed the “hot” market. According to the above article, a few developments have stalled, leaving homeowners with unfinished communities. It also appears that building has pretty much stopped.
So, what does all this mean? No, Star is not the next Eagle, but they have very similar landscapes with their foothills and river access. Star is also a small community with a lot of potential to grow into a great little town. And with the big adjustment in the real estate market, buyers have a great opportunity to build their homes on reasonably priced lots. However, there is also the possibility that Star could grow into that strange “country cousin” of Eagle, where something just isn’t right, if little or no planning goes into future development and growth.
For now, I’m going to stay put and see what happens. Any predictions?
Discussion Area - Leave a Comment