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Declines in U.S. housing prices are gaining speed, spelling opportunity for current Idaho home buyers. Idaho has been particularly hard-hit by this latest decline, with prices dropping 12.6% from a year ago, which was the sharpest decline of any state, according to PropertyWire.

Alabama and Utah home prices round out the top three, with year-to-year declines of 12.6% and 9.7%, respectively. Foreclosures are on the rise, as well. Reuters reports that 1.2 million homes have been foreclosed this year, up from just 1 million in 2009. An additional 3.2 million homes are in some stage of foreclosure currently.

For those trying to sell their homes, particularly if they're looking to get out from under an unmanageable mortgage payment, this spells bad news. Experts estimate that it could take 36 months to clear out the current inventory. And those who do manage to sell their homes may have to take a cut in profits -- or even take a loss, in order to move the property.

On the other hand, opportunistic Idaho home buyers and Idaho real estate investors have the opportunity of a lifetime. It's a buyer's market all the way, so negotiating power is huge, especially on homes that have been sitting on the market longer than the standard 120-day expected time frame.

Idaho mortgage options are also attractive, for both buyers and investors, with opportunities to get low-down-payment mortgages coming back strong as banks gain confidence.

Reach for your phone and take the first step towards your new Idaho home by calling an Idaho mortgage specialist for a pre-qualification.