Billings Montana Real Estate Blog Market Statshttp://www.realestatemontana.com/blogBillings MT real estate market news provided by Howard Sumner Real EstateTue, 23 Mar 2010 08:29:00 GMTmarket performance by price rangeTime to revisit the performance of the market by price range to get a grasp of how this year is doing as compared to the past. Some interesting facts to ponder. The real one is the fact that sales are 44% lower in total sales than 2006 the peak year

 
 

Yellowstone county homes

 

 

 

 

percentage

Comparing January 1st thru August 25th each year

 

 

up/down

price

percentage

Number of Sales

 

 

 

2010

range

up/down

2010

2009

2008

2007

2006

vs. peak

2010vs2009

 

 

 

 

 

-286%

39K<LESS

-86%

7

13

18

22

27

-125%

 40K-49K

25%

4

3

9

7

9

-200%

50K-59K

0%

5

5

6

7

15

-114%

60K-69K

29%

7

5

7

11

15

-217%

70K-79K

33%

6

4

10

12

19

-171%

80K-89K

-57%

7

11

13

18

19

-100%

99K<LESS

25%

12

9

15

19

24

-177%

100K-119K

17%

35

29

53

76

97

-182%

120K-139K

-50%

72

108

103

132

203

-55%

 140K-159K

-14%

133

151

167

195

206

-18%

 160K-179K

-9%

150

163

150

196

177

-11%

 180K-199K

2%

136

133

151

144

138

-19%

 200K-249K

5%

191

182

204

228

205

-95%

 250K-299K

-12%

74

83

124

144

94

-20%

 300K-399K

4%

76

73

88

86

91

-36%

 400K-499K

46%

28

15

38

31

23

-76%

OVER 500K

35%

17

11

16

30

20

 

 

 

 

 

 

 

 

 

totals

-4%

960

998

1172

1358

1382

 

2010vs2008

-22%

 

 

 

 

 

 

2010vs2007

-41%

 

 

 

 

 

 

2010vs2006

-44%

 

 

 

 

 

 

]]>http://www.realestatemontana.com/Blog/market-performance-by-price-range-2http://www.realestatemontana.com/Blog/market-performance-by-price-range-2Mon, 30 Aug 2010 01:00:00 GMTMARKET UPDATE AT A GLANCETHE NUMBERS FOR THE MARKET THROUGH THE END OF JULY ARE AN INTERESTING MIXTURE. SALES PRICE IS UP, ALTHOUGH LOOKS SUSPICIOUSLY LIKE MERELY A TAX CREDIT BOOST. MY BELIEF THE REAL; IS THE TALE OF THE TAPE IN THREE MEASUREMENTS: 1ST IS INVENTORY UP 13% FROM LAST YEAR AT THIS TIME, 2ND THE COMPARISON WITH PENDING SALES FROM LAST YEAR AT THIS TIME DOWN 21% AND THE THIRD MEASUREMENT IS ABSORPTION TIME UP TO 246 DAYS, NOT THE MEASUREMENT OF STRENGTH HOUSING IS LOOKING FOR. A VERY BRIGHT SPOT IN THE REPORT FOR JULY IS NEW SINGLE FAMILY STARTS UP FROM LAST JULY, I HOPE FOR MY BUILDER FRIENDS THIS TREND WILL CONTINUE ALTHOUGH WITH NUMBERS ABOVE IT SEEMS DOUBTFUL. WHEN YOU MIX INTO THE THOUGHT PROCESS OF 50 YEAR HISTORICALLY LOW RATES SUB 4.5% FOR 30 YEAR MONEY THIS DOES PORTRAY A PITIFUL JULY PERFORMANCE.

Market update at glance   Year  Percentage Increase 
Yellowstone County  6/30/2101 7/31/2010   2009 2010 or -Decrease
               
Residential  Closed Sales Units   955 1014   6%
               
Residential  Pending Sales Units 295 232   -21%
               
Residential  Active Property For Sale 868 979   13%
               
Average sales price Single family Home $201,222 $208,803   4%
               
Average Square feet Single family Home 2290 2321   1%
               
Median sales price Single family Home  $180,000 $186,500   4%
               
Median Square feet Single family Home  2162 2184   1%
               
Average Days on Market Till Offer Received        
Single Family Home      67 61   -9%
               
Absorption rate -  TIME IN DAYS        
Time it would take for all existing   246    
properties to sell with no new inventory         
coming into the market place - residential         
               
SINGLE FAMILY PERMITS MONTH june 20 32   60%
               
SINGLE FAMILY PERMITS YEAR  126 161   28%
               
Average # Rentals Advertised Sundays 400 339   -15%
               
Average Asking Price  Rental Home $1,024 $1,033   1%
               
Average Asking Price Rental Apartment $670 $645   -4%

]]>http://www.realestatemontana.com/Blog/MARKET-UPDATE-AT-A-GLANCEhttp://www.realestatemontana.com/Blog/MARKET-UPDATE-AT-A-GLANCEMon, 09 Aug 2010 07:47:00 GMT917 25th Street West 

New Listing

917 25th Street West

Comfortable & affordable West Billings home, with 4 bedrooms, 1 bath, 2 car garage, fenced yard.   $161,000  Call Howard Sumner today to see this home 245-6890

]]>http://www.realestatemontana.com/Blog/917-25th-Street-Westhttp://www.realestatemontana.com/Blog/917-25th-Street-WestWed, 04 Aug 2010 09:49:00 GMTmonthly news letter

Your REALTOR: Howard Sumner

Howard Sumner
August 2010
Real
Your Real Estate Source, Your Results Solution
 Copyright © 2010 Realty Times
All Rights Reserved.




How To Make Buyers
Want Your Home

  Whether you're a buyer or a seller you want to succeed in the realty marketplace. That's natural and reasonable, but what are the steps you need to triumph?
      Negotiations are a complex matter and all transactions are unique. Both sides -- buyer and seller -- want to feel that the outcome favors them, or at least represents a fair balance of interests. In the usual case there is a bit of bluff, some give-and-take, and neither party gets everything they want.
      So how do you develop a strong bargaining position, one which will help you get the most from a transaction?

Mortgage Rates


View current rates 



U.S. averages as of July 29, 2010:

30 yr. fixed:   4.54%
15 yr. fixed:   4.00%
1 yr. adj:        3.64%



Experience shows there are five basic keys which will determine who wins at the negotiating table.
      1. What Does The Market Say?
      At various times we're in a "buyer's" market, a "seller's" market, or a market



Wondering What Your Home Is Worth?

Let me show you.




How to Recognize
A Sellers Market

      As a homeowner, and a prospective seller, you may be wondering if now is a good time to put your home on the market. But how can you tell if the market is in your favor at this time? Will you lose money or make money? Is it a "sellers market"?
      These are all very important questions. And the answer is in the market statistics.
      As a seller, one of the first things you must evaluate is the desirability of your location. Market conditions are extremely localized statistics. While the national economy and housing market tie every area of the country together to a certain degree, markets and their conditions range widely from state to state, community to community, and even neighborhood to neighborhood within a community.
      You must ask yourself, and your real estate agent, "Is my neighborhood up and coming or has it already come and



Most Neighbors Still Connect The Old Fashioned Way

      Online social networking doesn't do it for neighbors wanting to keep in touch with neighbors.
      Internet tools are gaining ground, but face-to-face encounters and phone calls rule as the most common methods of interaction in the hood.
      Pew Internet & American Life Project's recent "Neighbors Online" study found that many neighbors haven't made the transition to Facebook, Twitter, LinkedIn, MySpace and other online social networking tools.
      "For many Americans ignorance might have been bliss during the boom times but today people want to be actively engaged at both the local and national levels to stay informed about what¹s happening and how it affects them. Being left in the dark could prove to be downright dangerous, particularly when it comes to something that may be happening right in your own backyard," said Nancy Osborne, chief operating officer of Erate.com, a Santa Clara, CA-based financial information publisher and interest rate tracker.
      In a recent poll, Pew telephoned 2,258 adults, age 18 and older and asked about online connections to communities and neighbors and found that in the


Available Homes For Sale

Information on ALL available area properties




Too Much To Store and
Too Little Space

     Do you have too much to store and too little space? If you're like many homeowners, finding enough storage space can be a challenge. Thankfully, remodeling professionals can help you create new ways to tuck away your family's treasures in a resourceful and sophisticated way, according to the National Association of the Remodeling Industry (NARI).
      Finding storage solutions doesn't always mean undertaking a major remodel. Sometimes it's about using the square footage you already have. Remodelers can help you plan and reallocate storage to accommodate your family's changing lifestyle. Getting creative with storage can improve daily living and boost the resale value of your home.


Local Market Conditions




Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.


More Articles


July Round Up:

Making Your Home Appealing
On A Budget

Final Walk-Through Tips

Real Estate Outlook: Federal Reserve Weighs In



Howard Sumner
E-mail: howard@realestatemontana.com
Web: http://www.realestatemontana.com
Phone: 406-245-6890
Direct: 406-698-3051
Toll Free: 800-317-5769
Fax: 406-254-2972
Howard Sumner Real Estate
406-245-6890
404 North 31st Street #130
Billings, MT 59101

Equal Housing Opportunity


E-mail this Newsletter to a friend

Previous Newsletters:

 

]]>http://www.realestatemontana.com/Blog/monthly-news-letterhttp://www.realestatemontana.com/Blog/monthly-news-letterSun, 01 Aug 2010 17:29:00 GMT6340 horsethief<table width="100%" style="font-family:arial" cellpadding="10">
  <tr>
    <td bgcolor="#CC9929" align="center">
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        <tr>
          <td width="100%" padding="10px" align="left">
            <h1 size="2" align="left">
              <a href="http://www.realestatemontana.com/property/6340-Horsethief-Lane-Shepherd-Montana?ac1=LST01">
                <div style="text-decoration:none">
                  <font color="#35456B">6340 Horsethief Lane</font>
                </div>
              </a>
            </h1>
            <p>
              <font size="3">Here's A Winner!</font>
            </p>
            <table width="100%" cellpadding="4px">
              <tr>
                <td bgcolor="#35456B">
                  <span style="color:#ffffff">PROPERTY DETAILS</span>
                </td>
              </tr>
            </table>
            <table width="100%">
              <tr>
                <td valign="top" width="455px">
                  <img style="width:450px;border:1px solid black;" src="http://www.realestatemontana.com/property/6340-Horsethief-Lane-Shepherd-Montana/i/241549/0/m?pid=" />
                </td>
                <td valign="top">
                  <span>
                    <font color="#35456B" size="5">
                      <b>$166,900</b>
                    </font>
                  </span>
                  <table width="100%" cellpadding="4px">
                    <tr>
                      <td bgcolor="#35456B">
                        <span style="color:#ffffff">LISTING INFORMATION</span>
                      </td>
                    </tr>
                  </table>
                  <font size="3">
                    <b>Bedrooms: </b>3.00<br /><b>Baths: </b>2<br /><b>Sq ft: </b>1864<br /><b>Lot Size: </b>1.5 acres acre(s)<br /><b>Style: </b>Ranch<br /><b>Garage: </b>2 Car<br /><b>Heat Source: </b>Gas<br /><b>Taxes: </b>$1237.00<br /></font>
                </td>
              </tr>
            </table>
            <table width="100%" cellpadding="4px">
              <tr>
                <td bgcolor="#35456B">
                  <span style="color:#ffffff">PROPERTY DESCRIPTION</span>
                </td>
              </tr>
              <tr>
                <td>
                  <p>Enjoy your own little corner of the world! Spacious ranch styled home includes 1.5 acres near Shepherd, Montana. Plenty of room for the family; they will love the space! Large open living room area with carpeted flooring, vaulted ceiling, gas fireplace, separate dining room with carpeted flooring, vaulted ceiling. An incredible custom oak kitchen with plenty of counter and cupboard space, skylite allows plenty of daytime lighting. Laundry room off the kitchen with "mud room" entry at the rear of the home. 3 bedrooms including a master bedroom with private bath, including a separate tub & shower and a skylight. 2 baths including the private master bedroom bath. Bedroom areas are carpeted. Delightful enclosed patio off the back of the home for summer enjoyment. Detached 2 car garage with storage loft above, and additional storage unit. Domestic well for home use and for watering the acreage. With the spacious room sizes and the 1.5 acres, there is plenty of room to spread out and enjoy yourself. Minutes from Billings and school too.</p>
                </td>
              </tr>
            </table>
            <table width="100%" cellpadding="4px">
              <tr>
                <td bgcolor="#35456B">
                  <span style="color:#ffffff">CONTACT INFORMATION</span>
                </td>
              </tr>
            </table>
            <table width="100%" cellspacing="8">
              <tr>
                <td align="right" valign="top">
                  <img src="http://realestatemontana.com/siteimages/agent150.jpg" />
                </td>
                <td width="370" valign="top">Howard Sumner<br />Howard Sumner Real Estate<br />404 North 31st Street Suite 130<br />Billings MT 59101<br /><br />406-245-6890<br />1-406-254-2972<br />howard@RealEstateMontana.com<br /><a href="http://www.realestatemontana.com/?ac1=LST01">http://www.realestatemontana.com/</a><br /><img src="http://www.realestatemontana.com/siteimages/logo.jpg" /></td>
              </tr>
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                  <span style="color:#ffffff">ADDITIONAL IMAGES</span>
                </td>
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                  <img src="http://www.realestatemontana.com/property/6340-Horsethief-Lane-Shepherd-Montana/i/241549/1/m?pid=" />
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                  <img src="http://www.realestatemontana.com/property/6340-Horsethief-Lane-Shepherd-Montana/i/241549/2/m?pid=" />
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]]>http://www.realestatemontana.com/Blog/6340-horsethiefhttp://www.realestatemontana.com/Blog/6340-horsethiefWed, 14 Jul 2010 06:54:00 GMTOpen House, July 11, 2010 

Open House 1-3

Sunday, July 11, 2010

1008 Poly Drive #C2

Wonderful living in this secluded and elegant condominium, a hideaway in the heart of Billings.  Large open living areas, covered patio, custom kitchen with eating space, formal living & dining,  main level laundry, 2 bedrooms, 2 baths, 2 car attached garage, game/family room on the lower level too.  $216,000

Your Host:  Howard Sumner 245-6890

]]>http://www.realestatemontana.com/Blog/Open-House-July-11-2010http://www.realestatemontana.com/Blog/Open-House-July-11-2010Sun, 11 Jul 2010 10:40:00 GMTfirst half market performancehere are the market numbers for the first half of 2010. plenty of positives in terms of number of sales and on the pricing front. yet Iwould temper my optimism due to the large influence of the tax credits on the market. The one stand out showing the tax credit influence is the pending sale number and it shows a year over year decline of 24% a red flag if i ever saw one to future activity.

Market update at glance   Year  Percentage Increase 
Yellowstone County  6/30/2010 2009 2010 or -Decrease
               
Residential  Closed Sales Units   822 887   8%
               
Residential  Pending Sales Units 307 233   -24%
               
Residential  Active Property For Sale 849 961   13%
               
Average sales price Single family Home $198,694 $208,094   5%
               
Average Square feet Single family Home 2281 2312   1%
               
Median sales price Single family Home  $180,000 $185,800   3%
               
Median Square feet Single family Home  2176 2190   1%
               
Average Days on Market Till Offer Received        
Single Family Home      68 61   -10%
               
Absorption rate -  TIME IN DAYS        
Time it would take for all existing   205    
properties to sell with no new inventory         
coming into the market place - residential         
               
SINGLE FAMILY PERMITS MONTH  30 24   -20%
               
SINGLE FAMILY PERMITS YEAR  106 129   22%
               
Average # Rentals Advertised Sundays 400 333   -17%
               
Average Asking Price  Rental Home $1,024 $1,042   2%
               
Average Asking Price Rental Apartment $670 $647   -3%
]]>http://www.realestatemontana.com/Blog/first-half-market-performancehttp://www.realestatemontana.com/Blog/first-half-market-performanceWed, 07 Jul 2010 07:03:00 GMTLowest Interest Rates on Record!According to an article published on Yahoo Finance this morning mortgage interest rates are among the lowest ever recorded.

Following the attached link for complete information.  It is a great time to buy a home in Billings, Montana!

http://finance.yahoo.com/news/Mortgage-rates-sink-to-lowest-apf-2118457054.html?x=0&sec=topStories&pos=main&asset=&ccode=

]]>http://www.realestatemontana.com/Blog/Lowest-Interest-Rates-on-Recordhttp://www.realestatemontana.com/Blog/Lowest-Interest-Rates-on-RecordThu, 24 Jun 2010 10:24:00 GMTMonthly update at glance 5/31/2010You can see the effect of the tax credit in the four major metrics of the housing market. 1st is thew closed sales up 16% from last year. 2nd is pending sales a month after the credit expires down 12% 3rd. is active properties up 14% from last year and 4th the most dramatic is the single family building permits issued in Billings Down 86%. when you factor in that this time of year permits are normally headed up you really get the feel for the impact the tax credit has had on the housing market.

Market update at glance   Year  Percentage Increase 
Yellowstone County  5/31/2010 2009 2010 or -Decrease
               
Residential  Closed Sales Units   621 718   16%
               
Residential  Pending Sales Units 306 270   -12%
               
Residential  Active Property  For Sale 821 940   14%
               
Average sales price Single family Home $197,440 $202,058   2%
               
Average Square feet Single family Home 2275 2274   0%
               
Median sales price Single family Home  $179,998 $184,900   3%
               
Median Square feet Single family Home  2182 2162   -1%
               
Average Days on Market           
till offer Single Family Home    71 60   -15%
               
Absorption rate - TIME IN DAYS         
Time it would take for all existing   236    
properties to sell with no new inventory         
coming into the market place - residential         
               
SINGLE FAMILY PERMIT  MONTH 29 4   -86%
               
SINGLE FAMILY PERMIT  YEAR 76 97   28%
               
Average # Rentals Advertised Sundays 400 328   -18%
               
Average Asking Price  Rental Home $1,024 $1,038   1%
               
Average Asking Price  Rental Apartment $670 $648   -3%
]]>http://www.realestatemontana.com/Blog/Monthly-update-at-glance-5312010http://www.realestatemontana.com/Blog/Monthly-update-at-glance-5312010Tue, 08 Jun 2010 01:00:00 GMTOpen House, Sunday, May 16, 2010 

Open 1-3

Sunday, May 16, 2010

1315 West I Road, Worden, MT

$489,000

Beautiful, sprawling & spacious, custom built home on 5 acres a few minutes West of Worden, Montana.  With approx. 4,100 sq. ft. of living area, all on one level; including 3 bedrooms, 3 baths, formal living & dining, family room, custom kitchen, sunroom, 3 car garage, plus 36X50 shop!

]]>http://www.realestatemontana.com/Blog/Open-House-Sunday-May-16-2010http://www.realestatemontana.com/Blog/Open-House-Sunday-May-16-2010Fri, 14 May 2010 09:41:00 GMTMarket Update through April 30th 2010Here are the numbers through the end of April. Since real estate sales were driven by the 8k and 6.5k tax credit all numbers are looking good. The most note worthy number is the decrease in availability for rental units. There has been a consistent steady decline since mid January. The only reasonable explanation is an inflow of persons living in Yellowstone County. The curious part of that is, I can find no evidence of broad based hiring, which leaves me to ponder are people moving into the area because overall the economy of Yellowstone county is performing better than the region (which it is) to look for jobs or is that they found a job move here and no is admitting that they are hiring. I keep trying to discern which  is actually happening. All numbers from the housing sales numbers are positive except absorption. 237 days. Based on sales and current inventory trends over the next 30 days, that will shift downward pretty fast , yet still stay above 180 days which is the National Association of Realtors demarcation line for buyers have more power than sellers. It will be interesting to watch how the market reacts with no tax credit support. My belief is we will have a quite period for between 60 to 120 days where sales are slower since people took action earlier to take advantage of the tax credits.  

Market update at glance 4/30/2010

Year

Percentage Increase

Yellowstone County

 

2009

2010

or -Decrease

 

 

 

 

 

 

 

 

Residential  Closed Sales Units

 

445

497

 

12%

 

 

 

 

 

 

 

 

Residential  Pending Sales Units

273

373

 

37%

 

 

 

 

 

 

 

 

Residential  Active Property Units For Sale

823

919

 

12%

 

 

 

 

 

 

 

 

Average sales price Single family Home

$194,653

$200,481

 

3%

 

 

 

 

 

 

 

 

Average Square feet Single family Home

2243

2264

 

1%

 

 

 

 

 

 

 

 

Median sales price Single family Home

$178,100

$183,900

 

3%

 

 

 

 

 

 

 

 

Median Square feet Single family Home

2162

2113

 

-2%

 

 

 

 

 

 

 

 

Average Days on Market

 

 

 

 

 

Till Offer Received Single Family Home

75

62

 

-17%

 

 

 

 

 

 

 

 

Absorption rate -

TIME IN DAYS

 

 

 

 

Time it would take for all existing

 

237

 

 

properties to sell with no new inventory

 

 

 

 

coming into the market place - residential

 

 

 

 

 

 

 

 

 

 

 

 

SINGLE FAMILY PERMIT  MONTH

17

23

 

35%

 

 

 

 

 

 

 

 

SINGLE FAMILY PERMIT I YEAR

47

93

 

98%

 

 

 

 

 

 

 

 

Average # of Rentals Advertised Sundays

400

324

 

-19%

 

 

 

 

 

 

 

 

Average Asking Price for a Rental Home

$1,024

$1,036

 

1%

 

 

 

 

 

 

 

 

Average Asking Price for a Rental Apartment

$670

$652

 

-3%

 

]]>http://www.realestatemontana.com/Blog/Market-Update-through-April-30th-2010http://www.realestatemontana.com/Blog/Market-Update-through-April-30th-2010Wed, 05 May 2010 08:03:00 GMTOpen House, May 2, 2010 

Open 1-3

Sunday, May 2, 2010

1008 Poly Drive #C2

$224,900

Private, secluded home.  Comfortable yet elegant describes it all!  You will be impressed when you see this great home.

]]>http://www.realestatemontana.com/Blog/Open-House-May-2-2010http://www.realestatemontana.com/Blog/Open-House-May-2-2010Thu, 29 Apr 2010 10:44:00 GMTmarket update through april 15th 2010Thought I would update through tax day. We now have 9 home shopping days left for the tax credit and truly we are sprinting to the finish line when you look at the percentage increase in pending sales over last year. There are a couple of other worthy notes is the median and average square footage of the homes sold decreasing, yet pricing moving slightly ahead a positive trend to build a solid floor on pricing. The other stand is the decrease in availed rental units. I searched hard to find the most reasonable explanation and I believe it is that people are moving to Yellowstone County in search of employment since we have one of the lowest unemployment numbers in the region. This in migration will probably show up in Yellowstone counties unemployment increasing more than the business environment on its’ own would lead to occur.

Market update at glance

4/15/2010

 

Year

Percentage Increase

Yellowstone County

 

 

2009

2010

or -Decrease

 

 

 

 

 

 

 

 

 

Residential  Closed Sales Units

 

 

356

374

 

5%

 

 

 

 

 

 

 

 

 

Residential  Pending Sales Units

 

245

337

 

38%

 

 

 

 

 

 

 

 

 

Residential  Active Property Units For Sale

 

814

915

 

12%

 

 

 

 

 

 

 

 

 

Average sales price Single family Home

 

$199,653

$201,522

 

1%

 

 

 

 

 

 

 

 

 

Average Square feet Single family Home

 

2295

2272

 

-1%

 

 

 

 

 

 

 

 

 

Median sales price Single family Home

 

$180,000

$183,400

 

2%

 

 

 

 

 

 

 

 

 

Median Square feet Single family Home

 

2184

2158

 

-1%

 

 

 

 

 

 

 

 

 

Average Days on Market Till Offer Received

 

 

 

 

 

Single Family Home

 

 

 

77

61

 

-21%

 

 

 

 

 

 

 

 

 

Absorption rate -

TIME IN DAYS

 

 

 

 

 

Time it would take for all existing

 

 

231

 

 

properties to sell with no new inventory coming

 

 

 

 

into the market place - residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SINGLE FAMILY PERMIT ISSUED FOR MONTH

13

45

 

246%

 

 

 

 

 

 

 

 

 

SINGLE FAMILY PERMIT ISSUED FOR YEAR

30

70

 

133%

 

 

 

 

 

 

 

 

 

Average Number of Rentals Advertised Sundays

400

331

 

-17%

 

 

 

 

 

 

 

 

 

Average Asking Price for a Rental Home

 

$1,024

$1,025

 

0%

 

 

 

 

 

 

 

 

 

Average Asking Price for a Rental Apartment

$670

$653

 

-3%

 

]]>http://www.realestatemontana.com/Blog/market-update-through-april-15th-2010http://www.realestatemontana.com/Blog/market-update-through-april-15th-2010Wed, 21 Apr 2010 07:01:00 GMTRent compared owningI was updating my rental information this morning and thought this might be Interesting to look at rent and own comparisons. For the median and average home payment I use the average and median sales price of a single family home in Billings figure a maximum FHA loan and use 20% of the principal and interest payment as the estimated tax and insurance cost. The rental information contains over 4000 apartment for rent and over 1000 homes. Previous years contain over 12000 apartment and almost 5000 homes for rent

 

 

 

 

]]>http://www.realestatemontana.com/Blog/Rent-compared-owninghttp://www.realestatemontana.com/Blog/Rent-compared-owningSun, 18 Apr 2010 09:42:00 GMTOpen House, Sunday, April 11, 2010 

Open House 1-3 PM

Sunday, April 11, 2010

911 Steffanich Drive

Your family will enjoy the luxurious decor & special features of this 6 bedroom, 3 1/2 bath home with 3,720 sq. ft. of living area, huge custom oak kitchen, dining area, formal living room, family room, storage, 2 car garage, fenced rear yard all on 1.2 acre of ground.  Enjoy the space & secluded area.

$243,000

]]>http://www.realestatemontana.com/Blog/Open-House-Sunday-April-11-2010-2http://www.realestatemontana.com/Blog/Open-House-Sunday-April-11-2010-2Sat, 10 Apr 2010 12:56:00 GMTOpen House, Sunday, April 11, 2010 

Open House 1-3 PM

Sunday, April 11, 2010

3181 Fairmeadow Drive

Comfortable family home with 3,674 sq. ft of living space, 4 bedrooms, 3 1/2 baths, 2 family room areas, formal living room, storage galore, plus 3 car garage, RV parking, privacy fenced rear yard, great Northwest Billings location.

$259,900

]]>http://www.realestatemontana.com/Blog/Open-House-Sunday-April-11-2010http://www.realestatemontana.com/Blog/Open-House-Sunday-April-11-2010Sat, 10 Apr 2010 12:50:00 GMTMarket Update Through March 31st 2010Here are the Numbers through March 31st for The Yellowstone County Area. All the numbers are on  the postive side except for one and thta is market absorption at 229 days. You would expect thta number to rise this time of year becuase we are coming out of winter when the recent past sales have benn slower. Yet with an absorption rate that long and the tax credits expiring at the end of april it does give pause for some concern about sales without the tax credit, if the inventory remains at the level it is ans sales slow when the credits expire.

Market update at glance 3/31/2010   Year  Percentage Increase 
Yellowstone County     2009 2010 or -Decrease
                 
Residential  Closed Sales Units     302 307   2%
                 
Residential  Pending Sales Units   225 298   32%
                 
Residential  Active Property Units For Sale   802 880   10%
                 
Average sales price Single family Home   $198,515 $202,675   2%
                 
Average Square feet Single family Home   2292 2284   0%
                 
Median sales price Single family Home    $179,900 $181,500   1%
                 
Median Square feet Single family Home    2177 2166   -1%
                 
Average Days on Market Till Offer Received          
Single Family Home        77 59   -23%
                 
Absorption rate -  TIME IN DAYS          
Time it would take for all existing     229    
properties to sell with no new inventory coming         
into the market place - residential           
                 
SINGLE FAMILY PERMIT ISSUED FOR MONTH 13 45   246%
                 
SINGLE FAMILY PERMIT ISSUED FOR YEAR 30 70   133%
                 
Average Number of Rentals Advertised Sundays 400 339   -15%
                 
Average Asking Price for a Rental Home   $1,024 $1,009   -1%
                 
Average Asking Price for a Rental Apartment $670 $654   -2%
]]>http://www.realestatemontana.com/Blog/Market-Update-Through-March-31st-2010http://www.realestatemontana.com/Blog/Market-Update-Through-March-31st-2010Mon, 05 Apr 2010 07:28:00 GMTInvestment Opportunity Available 

Looking for the opportunity to invest in real estate?

Here it is

105-107 Lewis Avenue

$201,350

Side-by-Side duplex within walking distance of Downtown Billings. 3 bedroom 1 bath units, garages for each unit too

Call to find out more - Howard Sumner Real Estate

245-6890

]]>http://www.realestatemontana.com/Blog/Investment-Opportunity-Availablehttp://www.realestatemontana.com/Blog/Investment-Opportunity-AvailableSun, 28 Mar 2010 14:20:00 GMTOpen Houses, Sunday, March 28, 2010 

Take advantage of the tax credits available for home purchases & get that country feeling!

4 homes open in the Prairie Subdivision, approx. 15 minutes East of Billings

Directions:  Take Highway 312 East to 12 Mile Road, turn North to the Prairie Subdivision

3947 Pheasant Drive - $176,900 - 3 bedrooms, 2 baths, 3 car garage, 1 acre

3804 Pheasant Drive - $158,900 -3 bedrooms, 2 baths, storage shed, 1.18 acre

3623 Plains Drive - $194,900 - Brand new 3 bedrooms, 2 baths, 3 car garage

3607 Plains Drive - $204,900 - 3 bedrooms, 2 baths, 4 car garage

Your Host:  Howard Sumner 245-6890

 

]]>http://www.realestatemontana.com/Blog/Open-Houses-Sunday-March-28-2010http://www.realestatemontana.com/Blog/Open-Houses-Sunday-March-28-2010Sat, 27 Mar 2010 11:25:00 GMTtax credit timingjust wanted to make sure everyone understands timing on the tax credits. Both the first time buyer($8,000) and the existing home owner ($6,500) require you to have a purchase agreement in place by April 30th 2010. On both credits you do not actually have to close the purchase until June 30th 2010, so there is ample time to actually complete the purchase. For existing home owners credit, an important note is, it does not require your presnt home sold and closed  in order to qualify for the credit.

important to know only 37 more shopping days for a new residence before the tax credit expires.

have a gereat day

]]>http://www.realestatemontana.com/Blog/tax-credit-timinghttp://www.realestatemontana.com/Blog/tax-credit-timingTue, 23 Mar 2010 08:29:00 GMT