Utah realtor Michael Hirsch has bought the largest single-family home sale in Utah history.
Hirsch, who has lived in the state for 25 years, plans to sell the $7.5 million, 2,100-square-foot home on U.S. Route 535 in Boise, about 50 miles north of Salt Lake City, for $4.3 million.
“We’ve done it twice before,” Hirsch said.
“It’s not a typical sale.”
Hirsch owns a real estate brokerage in Boise that specializes in the city and suburbs.
He is hoping the sale will attract buyers from across the state, including the area surrounding Boise.
“People love our prices,” Hensley said.
The median home price in Idaho is $841,000, according to the Zillow real estate website.
“I think it’s just a great opportunity for people in Idaho and outside of it,” Hohl said.
A similar sale in Boise happened earlier this year, and the owner, the wife of a city councilman, bought the home for $1.8 million.
Hohl is the third-oldest realtor in the country, according, and he is still in his 50s.
He said his clients include some of Idaho’s biggest and best-known corporations.
“There’s a certain number of people that are just so knowledgeable about everything that we do and want to help,” he said.
Idaho is also the only state where people who qualify for the tax break known as the Earned Income Tax Credit are able to deduct up to $4,600 of the purchase price.
Hensleys house is in a two-bedroom house in Boise.
He bought it in 2008 for $400,000.
Hanchs wife, Lori Hirsch-Hirsch, said he was the first person to ever buy a house in Idaho.
He also has lived at the property for 25 of his life.
“He has a big heart,” Lori Henslein said.
Horsley said the property was bought on a very low down payment and the price was not the typical sale price.
“This is a very good opportunity for me to get to work on something new,” he told the Deseret News.
He added that he does not plan to keep the house.
“If I do it, it will be for the family,” he explained.
The Idaho real estate market has been heating up lately as new listings and sales are up.
Idaho’s economy has grown by 6.5% in the past year and a half.
That has helped spur a boom in home sales, which have soared by nearly 10% over the past three years, according a recent report by the real estate site Zillows.
Hinsley said he expects the new home sale will be one of the few in his lifetime.
“At this point, we are on the cusp of being in a position to do what we wanted to do for a very long time,” he added.
The property is located in the town of Boise, where the average home price is $1,049,500.