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Home Buying in Bozeman : Real Estate Advice

  • All83
  • Local Info9
  • Home Buying24
  • Home Selling4
  • Market Conditions7

Activity 31
Mon Mar 28, 2016
Paul answered:
Use InBedrock.com to fully understand + analyze all real costs of homeownership, including purchase price, down payment options, closing costs (title insurance, bank fees, inspection/appraisal, legal), mortgage financing- interest rate, term, points, pre approval requirements, RE Taxes, HO Insurance, utilities/maintenance/condo fees, selling costs (broker commission, capital gains tax, state transfer taxes). InBedrock.com is educational, in-depth, easy-to-understand. Invaluable especially for serious first-time homebuyers. ... more
0 votes 14 answers Share Flag
Mon Nov 9, 2015
Kathy Lewis answered:
It's a wonderful option and has allowed many first time buyers enter the housing market ( that otherwise could not) please contact us below with any questions.

USDA Mortgage Hub
100% USDA Rural Housing Loans
Serving all 50 states
Ph: 800-691-8826 (7 days a week)
www.UsdaMortgageHub.com
... more
0 votes 4 answers Share Flag
Fri Jan 23, 2015
Pam Halbert answered:
$6000.00 is enough to start. There is a Rural Development program that requires zero down or as much as you'd like to put down. This is available for homes outside the Bozeman city limits. ... more
0 votes 10 answers Share Flag
Tue Sep 16, 2014
Patrick Sullivan answered:
Hi James... Normally a lender wants to see a 2 year history of employment in the same line of work on conventional loans, However if you were getting out of college and now starting a new career then a 2 year history is not required. FHA loans have more flexible guidelines regarding this situation. I used to be a mortgage underwriter and I know guidelines do change.What I would do is contact your local realtor and they can refer you to a reputable lender to get you preapproved. GOOD LUCL :-) ... more
0 votes 3 answers Share Flag
Fri Aug 8, 2014
Daisy Ferreras answered:
Mon Jun 2, 2014
Dennis Erickson answered:
Daisy, I'm afraid you won't like my answer much, but it might help you out.
First, your Realtor should have let you know the contract was out of date. Period. No Excuse! Second, you should have read the contract and known the date also. You should have also read the addendum asking for repairs and noted the missing items. I assume you signed the addendum and the Buy Sell agreement? OK, your Realtor messed up. Let's go with that. First, get the contract back in date by using an amendment which your Realtor should prepare. Have it signed by yourself and the seller and have it reflect a hard closing date. If the seller isn't making repairs, include a dollar amount on the amendment that will be paid to you in lieu of him doing repairs, there's a good chance he's broke and can't afford to make the repairs, something your Realtor should have foreseen and accounted for in the agreement to buy and sell.

Lessons here? First, get another Realtor. Sorry, but these are basic items yours missed. Second, don't assume you don't have some responsibility to read your agreements and understand them. This is serious business and you have to take responsibility for understanding what you're doing even when you have attorneys or Realtors or.... (name someone here) who are involved in the transaction.

Good luck.
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0 votes 4 answers Share Flag
Thu Mar 27, 2014
Karen and Ed Thomes answered:
Hi Steve,

Thank you for your inquiry about town-home activity in Bozeman. In 2013 both town-homes and condos saw a significant increase in values. In fact, there was a 12% increase in sold prices. In addition, the inventory was quite low by the end of 2013 and the demand for town-homes and condos is still strong. New construction of town-homes and condos is robust and it is expected to continue throughout 2014. This will play an important part as it will be your competition in the months ahead. In conclusion, with the inventory currently depleted and low mortgage interest rates continuing, I believe that marketing your property (the earlier the better) in 2014 would be an optimum time to maximize profits in a timely fashion.
I would look forward to learning more about your particular property, its features, etc. for a more complete Market Analysis. Contact Karen or Ed anytime at 406-570-6080. www.TheBozemanHomeTeam.com
... more
0 votes 6 answers Share Flag
Tue Feb 11, 2014
Erin Mandeville answered:
The most current sale closed at about $10,000 per acre on Skunk Creek in 2013 (and that was with the water being the Buyers responsibility. As you noted Brian, there is a lot of variation in the area and access in some areas may not be for the faint of heart! For the tougher to locate parcels, the property may be valued more in the $6,000 per acre range and for the premium lots it may be as much as $20,000 an acre. If this is an area you have your eye on, I'd love to help you find the perfect lot for you at a price commiserate with the market. ... more
0 votes 3 answers Share Flag
Mon Dec 9, 2013
Ryan Olsen answered:
This is a great question. Bloomsberg Business Week has a great short article about this. Lenders must now verify and document at least eight specific criteria, including income, assets, credit history, other debt obligations, and employment status, to determine whether a borrower has a reasonable chance of repaying the loan. If the lender doesn’t do all that, a homeowner who has trouble repaying the loan has grounds for a lawsuit. As for how this will affect the real estate market? This will be better for everyone because there won't be the quickly inflated prices and then bursting real estate bubbles. ... more
1 vote 3 answers Share Flag
Mon Nov 4, 2013
Mark Meissner answered:
Hi Dhale42,

The home at 355 Chase Way is actively on the market. The listing agent does not have it noted as a foreclosure in our MLS system, so I can't say for sure whether it is or isn't. Great price on a nice condo though! Let me know if you'd like to arrange a time to go and see it. Thanks and have a good evening!

Mark Meissner
Sales Associate
ERA Landmark
406-570-9576
... more
0 votes 1 answer Share Flag
Mon Aug 5, 2013
vcwald answered:
Sometimes because the sale is contingent upon the buyer meeting some condition (e.g., selling their current home) and the seller is willing to entertain backup offers in case the contingency isn't met by deadline. Most realtor websites indicate this status if it is the case. ... more
0 votes 3 answers Share Flag
Wed Jul 24, 2013
Courtney King answered:
The market actually has gone up and is predicted to climb more, so now is the time to buy!
1 vote 2 answers Share Flag
Fri Jun 21, 2013
Joe Duval answered:
I love the "banana belt" region of the Whitehall, MT area. It offers the communities of Dillon, Butte, and Bozeman all with in an hour or so. The recreational opportunities are endless and the fishing differs in the direction you drive. Smaller communities, like Alder, Virginia City, Sheridan, Cardwell, and Twin Bridges are also well within striking range to several great rivers and tributaries. ... more
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Sun Mar 3, 2013
Joyce Miller answered:
Agreed that builders have done their homework, have representation in most cases and have priced their projects properly. Remember that if you wait, chances are the rates and going to make a shift and the small percentage you pay to get into that New home will seems pretty insignificant when your are priced, due to rates, right out of the market you are currently able to qualify for. The market looks pretty good, there are still re-sales out there as well, at really good prices as well as a huge jump in number of building permits being issued. Like the other qualified professional Realtors, I will say., call a Realtor, you will not be sorry you did. Joyce Miller Independent Broker/Owner(406)539-7355 Joyce@movetotherickies.com ... more
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Fri Feb 22, 2013
PollyAnna Snyder answered:
Please give us a call to discuss, cjolk1522. Best....406.600.2477
0 votes 1 answer Share Flag
Thu Dec 27, 2012
Andrew Hurlburt answered:
Most homes do not have a lot rent. Primarily you see lot rents on mobile or manufactured homes that are located on land owned by another property. This means that if there is lot rent associated with the home, then you are not buying real estate, only personal property ie the mobile home.

Whenever you purchase real estate, there is no lot rent associated with that purchase. However, that does not mean that there are not HOA dues. Condominiums for example will almost always have Home Owner Association dues. Around here those are usually $90-120 per month but can vary beyond that.

Please let me know if you have any other questions!

-A
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0 votes 3 answers Share Flag
Wed Nov 14, 2012
Sam Quasuittuq answered:
Markup in new builds is about 25-35% over the net construction. I'd offer 25000 less and see where it leads. You have to start somewhere. Builder's don't like going below their net costs - but it's a buyers market and if you have the cash - go for it! ... more
0 votes 7 answers Share Flag
Wed Oct 31, 2012
Sam Quasuittuq answered:
Looked at Bozeman about five years ago - it was overpriced then and still is. When the next round of derivatives comes - the prices will drip even further. Pretty soon the town will wake up and start re-assessing those homes and come up with more realistic taxes.

That's why I bought in Wyoming where taxes are relatively cheap compared to Montana.
... more
0 votes 11 answers Share Flag
Sun Sep 16, 2012
somer asked:
she works out of shields realty 306 elliot street wilsall mt
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