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Market Conditions in Montana : Real Estate Advice

  • All31
  • Local Info3
  • Home Buying13
  • Home Selling6
  • Market Conditions3

Activity 51
Wed Jun 19, 2013
missouladeborah answered:
Hello Jtumbleweed,

Although the volume in the number of sales is up over the past few months, the prices of homes are staying relatively stable, and the interest rates on loans are still historically low.
The market is showing signs of both of these contributing factors to be rising, so I believe we have hit the low and will now see a steady increase.
Your first step, if you haven't already done so, is to meet with your lender and obtain a pre-approval if you will be needing a loan for purchase.

Hope this information helped you.

Best,
Deborah Gladback, Realtor
LambrosERA
3011 American Way
Missoula, MT 59808
(406) 546-2388
... more
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Wed Jun 19, 2013
missouladeborah answered:
I'd recommend passing all of the information you have put in here, on to the Title Company as they are responsible for recordings, HUD statement and disbursement of funds. Usually the seller is responsible to maintain all homeowner's insurance until actually recorded and as other agents have noted below, you don't want to do anything to 'upset the apple cart' right before closing. Since you don't have an escrow account, you may need to handle your refund of insurance directly with the insurer.

Deborah Gladback, Realtor
LambrosERA
Missoula, MT
(406) 532-9200
... more
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Thu Jun 6, 2013
Darwin Ernst answered:
The only point in looking through an old appraisal would be to estimate your comfort level with the prior valuation conclusion. If the data within the report is inaccurate, there is a good chance the concluded opinion of value isw also inaccurate. If you need to know what the home is worth now, you should probably have a professional appraiser complete a new valuation with a recent effective date. ... more
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Sat Mar 23, 2013
jordin hance answered:
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Tue Jan 29, 2013
Donna Johnson answered:
CMA is best to determine value and prices are lower than they have been for some time. We are seeing an upswing in the market although land sales are still lagging. The great news is that interest rates are low and competition is less because many who have had expired property listings are waiting to see. ... more
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Wed Jan 23, 2013
Joyce Mitchell answered:
Hi, John.

Montana is a non-disclosure state so there are no public records that reflect the sale prices of homes; however, you can contact a real estate broker who is a member of the local MLS who can provide you historical trends on properties listed and sold within their local MLS system. ... more
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Fri Dec 28, 2012
Johnsonelkcabin answered:
Yes! On Trulia.com!!! We are pleased with the way our home is listed at Upper Holter Lake at American Bar at "Gates of the Mountains Lakeshore Homes" Thanks everyone! Happy New Year from Arizona where we are "SNOWBIRDING" !! 8590 Backburn Drive, Helena,Montana 59602. Walt&Phyllis Johnson. Thanks again Marie Willson and Dalquist Realty and to those realtors using mutiple listing !! HAPPY NEW YEAR!!!!!!! ... more
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Wed Nov 7, 2012
Erin Mandeville answered:
Ben,

It is really wise of you to ask about Bozeman specifically, as we know all real estate markets are local. 2009 was the worst year our market had seen since the 80's and since then our market has been rebuilding. Remember, Bozeman's "worst market" is still significantly better than the troubles other markets experienced thanks to our quality of life and strong community.

Believe it or not, Bozeman's market is becoming a "Seller's market" in some market segments. (A "seller's market" is defined by a market with less than three months of inventory.) If you are looking to buy for $250,000 or less in today's market, you best move quickly. Currently that demographic has less than two months worth of inventory on the market. If you want to sell in that price point, this is a great time to bring your home to the market! In fact, you have a nearly 60% chance of selling your home in 30 days or less in this if it is offered correctly in the market at or below $250,000.

Between $251,000-$300,000 we have a three month supply of inventory defining this again, as a "Seller's market". $301,000-$450,000 we have less than 5 months worth of inventory, defining this segment as a Buyer's market. If you are looking to buy over $500,000 you can breath a bit easier as the market has not yet tipped to be anywhere near as competitive. As a Buyer you still stand the chance of picking up a great deal.

Hopefully this helps you understand our current market conditions a bit better. If you are ready to make a move, I would love the opportunity to help you.

Cheers,

Erin Mandeville, REALTOR®
Prudential Montana Real Estate
*Market statistics are current to Wednesday, November 7, 2012
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Tue Jun 26, 2012
Ron Thomas answered:
I presume that you are referring to the LISTING PRICE of the home:

Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
... more
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Tue Jun 26, 2012
Donna Johnson answered:
Location, property size, age and condition play an important factor in rents as well as property management (agency or owner). I see a variance from 850-1200 on the average.
0 votes 2 answers Share Flag
Mon Jun 4, 2012
Edith Karoline Jasser answered:
First step is if and when you want to buy a property, to sit down with a good lender, a mortgage broker is fine as they have access to various different programs to suggest to you based on your available down payment, but they also will be able to pre-approve you and you will find out how much money they will let you borrow to purchase a home.... remember that this does not only depend on your down payment, but also on your credit score, your income and all other debt, and then they will look at what you intend to buy, because if it is a condo and there are monthly assessments and the taxes all will
be rolled together to come up with the program and answers for you.

You may be able to fall into one or the other available programs..... First figure out the finances
before falling in love with a property...

A little bit of advice, DO NOT OVER EXTEND YOURSELF, remember if and when you lose a job,
God forbid, you may not be able to pay your mortgage and the taxes anymore....

You also should not look on your own for a property, once you find out that you can afford a loan, and you know what that amount is going to be, then you need a good Realtor to show you only
those properties that fit into your budget and fit your needs as size and location may be concerned.

Do not do this on your own.... Hope it will work out for you, just careful when doing your calculations,
make sure that at the end YOU are going to be comfortable with the monthly amounts to be paid

Good Luck to you...
EdithSellsHomes@gmail.com
@Properties North Shore, 30 Green Bay Rd. Winnetka Il. 60093
Edith always works in the very BEST interest of her clients Buyers, Sellers and Investors alike,
covering the city of Chicago, all N and NW suburbs and the fine homes of the North Shore.
Edith always goes the x-tra Mile with a Smile for all her clients.
Feel Free to visit my website
Have a wonderful Day :)
... more
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Mon Jan 23, 2012
Jeff Holloway answered:
Only five years later.... looking back... what do you think?
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Wed Jul 20, 2011
Swede answered:
Townsend,Mt. Great comute to Helena, Mt- State capital. Have (3) beautiful Missouri River front homes for sale. Send e-mail address & I will e-mail profiles & pictures. Regards, G.R. "Swede" A. Keller Williams Montana Realty. 406-202-0705 ... more
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Wed Jun 22, 2011
Bill answered:
Jim:

I have a great 10 acre parcel in the Woodland Hills Community with a well and approved septic on Woodland Hills Rd, Lot 37-B. Call Steve Mandeville w/ Windemere in Helena.
Bill
0 votes 5 answers Share Flag
Tue Nov 23, 2010
Donna Johnson answered:
I agree with Mathew, that there is a substantial shift in Market. Most appraisers give greater value to square footage on the main level of a home. Decks, landscaping, paint etc. do not generally increase the appraised value of the home. It does increase the appeal to a buyer and, therefore, are more likely to get a buyer to readily pay for full market value of your home. ... more
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Tue Nov 23, 2010
Donna Johnson answered:
Call a title agent. They have access to that information and compile a list for you. Some charge a fee per list & some do not.
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Mon Nov 22, 2010
Donna Johnson answered:
The Flathead Valley has experienced changes in home market by the general economy. We have had layoffs, cutbacks, and some closings of significant employers. Yet the Flathead Valley is unique in that as a destination point. A great portion of the Valley is owned by Public so land availability is not as great, but we do have a great number of subdivisions already with lots available. Thus, the area is predisposed to less drastic changes than other areas of the country. Our Sold Statistics show we are up nearly 22%, Pendings (under contract) slightly more than 18%., active listings (whats on the market) up 3%, while our New listings are 2.3% compared to last year. Our Absorbation rate (how fast we sell what is in our inventory) is still down slightly more than -24%, our average list price is down only -5.13%. Our Average list price is up nearly 27% however our days on market are also up nearly 24%. The median home sale price is $210,000. Indeed, Flathead Valley is a great place to live if you have the job that supports your lifestyle. ... more
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Tue Oct 12, 2010
Alfonso asked:
YOUR MESSAGE WAS BLOCKED AND I NOT SEE IT. CAN INSTEAD OF CITY NAME, CAN I WRITE THE COUNTY OR THE STATE NAME? LIKE ALL SALES OF LAND IN MONTANA? THANK YOU VERY MUCH. If it is not possible,…
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Mon Aug 16, 2010
Patk asked:
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