real estate

30197 Beavertail

Sold1Mostly level lot, with slope at northern edge. Walking distance to the beautiful Beavertail Pond with boat and fishing access. Seller did apply for septic approval and received it but decided not to build. Currently fenced on the east and north sides of the lot, seller had future plans to fence remaining two sides. Access has been across adjacent lot at the gate.

 

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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How Does Housing Inventory Affect Value?

From –The KCM Blog – House Pricing is Still about Supply and Demand

 


Depending on where you live, housing markets today, can be very different. Reading the news headlines can be very confusing.  Some say inventory is down and home values rising rapidly while others are talking about the influx of REO (Real Estate Owned properties by Banks), and still others indicate that the market is beginning to balance.

One thing is clear, markets are very regional and can be very different. Florida continues to be plagued by Foreclosures while many other states have leveled out. The eastern sections are seeing more REOs because they are judicial states that had/have more red tape involved with the foreclosure process.

But through it all, as the KCM Blog states – the market is still about supply and demand.

 

 

iStock_000009109354XSmallKnowing how much inventory is for sale is crucial to determining where home values are headed. Pricing of any item is determined by supply and demand: how many items are available in relationship to how many want to buy that item. The reasons for the strong year-over-year home appreciation numbers we have been seeing is simple to explain: demand for housing is up and the supply of homes for sale has been at historic lows. But that is beginning to change.

 

The months’ supply of available housing inventory, as reported by the National Association of Realtors, has increased from 4.3 months this past January to the current number of 5.2 months. And it seems inventory will continue to increase as we move forward.

 

Last week, Realtor.com released their National Housing Trend Report which looked at the movement in inventory levels of homes for sale across the country. Here are two major findings of the report:

 

1.) Dramatic year-over-year inventory declines have evaporated.

 

Nationally inventories in July are only 5.24 percent below the level of a year ago compared to being down 16.47 percent year-over-year in January.

 

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2.) Inventory declines decrease in local markets.

 

The number of markets with decreases in year-over-year inventory declined from 125 in June to 118 in July. This suggests that fall inventories in some markets may return to levels of a year ago.

 

In the report, Steve Berkowitz, CEO of Move, Inc. explains the impact of these findings on home values:

 

The recovery is entering a new phase where inventory shortfalls are no longer the driving force behind changes in housing prices in many markets. Larger inventories, especially in the hotter markets that experienced rapid price increases in the spring, are expanding buyers’ choices and helping to moderate price increases.

 

Don’t get carried away with recent news headlines when pricing your home. Let a real estate professional explain what the above information means to the current value of your house.

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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Housing Trends June 2013

Trends for Non-Distressed and Distressed

Properties Diverge as Investors Pull Back

 Investors have significantly reduced their home purchase activity in recent months, prompting divergent trends among property types.

 The non-distressed market continues to be strong, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey results. The average numbers of offers and sales-to-list price ratios have increased in recent months while average time on market for non-distressed properties has declined.

 Non-distressed properties received 2.3 offers in May, based on the three-month moving average, the third consecutive monthly increase for the metric. “Still really short of inventory to show my buyers and we face multiple offers with people willing to pay over the appraised price of the property,” according to a real estate agent in California.

Average offers on non-distressed properties vary by region, with Arizona, California and Nevada leading the country. Dot ChartNon-distressed properties in California received 4.1 offers in May, based on the three-month moving average. Non-distressed properties in Arizona and Nevada received 3.1 offers in May, based on the three-month moving average.

Properties in Farmbelt states of Iowa, Kansas, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin received 1.4 offers in May, based on the three-month moving average. Properties in the South and Industrial Midwest also averaged fewer than 2.0 offers in May.

Sales-To-List-Price-Ratios

Sales-to-list price ratios on non-distressed properties increased for their fifth consecutive month to 97.6%, based on the three-month moving average.

 Properties in the West again outpaced the national average. In California, the sales-to-list price ratio was 99.8% in May, based on the three-month moving average. “List prices in most cases are now simply the opening bid for an auction,” according to a real estate agent in the San Francisco area.

Properties in the Northeast and Industrial Midwest had the lowest sales-to-list price ratios at 96.0% in May, based on the three-month moving average. “We have not seen the huge jump that some major cities have, however, if the house is priced right it will sell for very close to asking price,” according to a real estate agent in Missouri.

 And time on market for non-distressed properties declined for the third consecutive month to 9.2 weeks, based on the three-month moving average. Time on market for non-distressed properties in California was 4.2 weeks in May, based on the three-month moving average, while non-distressed properties in the Farmbelt, Northeast and South averaged about 12.0 weeks.

Distressed Property Trends

 Bar graphTrends for distressed properties diverged from non-distressed properties in May as some investors have switched business strategies from buying properties to selling them. Investors accounted for 20.2% of home purchases in May, based on the three-month moving average, down significantly from a peak share of 23.1% in February.

 

The number of offers on real-estate owned properties and short sales declined in May compared with the previous month, based on the three-month moving average. Sales-to-list price ratios also declined on short sales and damaged REO properties.

 And time on market increased significantly for short sales while staying relatively steady for REOs in May compared with April.

The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey involves approximately 2,000 real estate agents nationwide each month and provides up-to-date intelligence on home sales and mortgage usage patterns.

 Residential Real Estate Pricing and Commission Metrics

Average Sales to Listing Price Ratio

Past 12 Months

Region

Damaged REO

Move-In Ready REO

Short Sale

Non- Distressed

AZ & NV

95%

102%

100%

97%

California

99%

102%

99%

99%

Farmbelt

93%

94%

95%

96%

Florida

97%

96%

96%

94%

Industrial Midwest

94%

98%

92%

95%

Northeast

90%

96%

91%

96%

Oil Producing

94%

95%

95%

97%

Pacific NW

96%

98%

98%

97%

Rocky Mountain

95%

98%

95%

96%

South

96%

96%

95%

96%

National Average

95%

97%

96%

96%

Average Listing Side Commissions

Past 12 Months

Region

Damaged REO

Move-In Ready REO

Short Sale

Non- Distressed

AZ & NV

2.38%

2.57%

2.99%

2.87%

2.38%

California

2.44%

2.54%

2.93%

2.67%

2.44%

Farmbelt

2.66%

2.68%

3.03%

2.92%

2.66%

Florida

2.67%

2.71%

2.97%

2.92%

2.67%

Industrial Midwest

2.82%

2.72%

2.91%

2.86%

2.82%

Northeast

2.68%

2.80%

2.90%

2.71%

2.68%

Oil Producing

2.61%

2.73%

2.84%

2.77%

2.61%

Pacific NW

2.52%

2.58%

2.92%

2.79%

2.52%

Rocky Mountain

2.62%

2.68%

2.90%

2.78%

2.62%

South

2.78%

2.74%

2.91%

2.81%

2.78%

National Average

2.68%

2.70%

2.93%

2.80%

2.68%

Average Buy Side Commissions

Past 12 Months

Region

Damaged REO

Move-In Ready REO

Short Sale

Non- Distressed

AZ & NV

2.83%

2.83%

2.78%

2.91%

California

2.70%

2.70%

2.69%

2.66%

Farmbelt

2.80%

2.82%

2.75%

2.74%

Florida

2.86%

2.85%

2.89%

2.94%

Industrial Midwest

2.91%

2.86%

2.80%

2.87%

Northeast

2.79%

2.74%

2.70%

2.65%

Oil Producing

2.83%

2.88%

2.87%

2.94%

Pacific NW

2.74%

2.83%

2.76%

2.78%

Rocky Mountain

2.84%

2.87%

2.83%

2.88%

South

2.88%

2.88%

2.86%

2.90%

National Average

2.84%

2.83%

2.79%

2.83%

Average Property Price by Region Past 12 Months

Region

Damaged REO

Move-In Ready REO

Short Sale

Non- Distressed

AZ & NV

$258,382

$168,910

$158,802

$246,354

California

$250,889

$305,833

$286,267

$467,536

Farmbelt

$76,771

$157,864

$138,498

$193,632

Florida

$97,599

$198,536

$146,194

$226,506

Industrial Midwest

$58,161

$145,233

$146,339

$198,803

Northeast

$166,829

$275,559

$210,313

$298,887

Oil Producing

$79,069

$158,917

$153,265

$214,538

Pacific NW

$138,058

$243,621

$184,802

$304,533

Rocky Mountain

$135,942

$210,958

$187,031

$277,753

South

$79,685

$165,500

$161,718

$232,540

National Average

$109,974

$200,195

$191,421

$261,562

Map

reprinted with permission: Campbell Surveys – Housing Trends update is published monthly and is available only to real estate agents who are part of the Campbell Housing Pulse Survey Panel For information on joining the panel contact John Campbell at 202-363-2069 email “ john at houseingpulse.com”

 

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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Real Estate Investing

The term real estate investing in all probability makes you think of  a number of things like hard money, real estate portfolios and real estate retirement plans, and then you may expand to thinking of short sales, bulk reo investing or virtual real estate investing. You may also consider what roles these things play in your life as a real estate investor in different economies.

You can learn a lot about real estate investing. You will get the most out of anything to do with short sales, bulk reo sales, virtual real estate and just improving real estate investor abilities by knowing some real estate investing basics. Check out these three real estate investing tenets that many experts do not fully know:

1. You will always end up with a positive yield when you take on real estate investing education. You can create thousands of dollars in potential wealth with each real estate deal. Knowing about getting that wealth is the key in the end to your success. Learning as much as possible about real estate will increase your odds of success whenever you do a real estate deal. A small investment in your education can yield big results when you use that learning. There are many online courses, your local MLS can point you to training and NAR the National Association of Realtors can also advise you about real estate education.

2. You can succeed in real estate investing regardless of the state of the economy. Many people think (wrongly) that you can only succeed in real estate when the economy booms. In reality, poor economies are great for real estate investors. You will likely find properties that you can buy at deep discounts. Additionally, you may find deals that would not exist in a booming economy. In fact, real estate investing can turn the tide for a poor economy. When the economy is not thriving, short sales, bulk reo sales and virtual real estate can all thrive. You can save yourself and others from major financial woes if you know how to do these deals.

3. You do not need to have a great deal of money if you want to be a successful real estate investor. You can succeed in the real estate investing arena no matter how much money you are working with. There are lots of transactions that you can perform with other people’s money. Private lenders will lend you their money if they think you are a good investment. A good investor will know as much as they can about real estate in the current market. This will help you represent yourself as a solid prospect to private lenders who do not know how to make money in real estate.

Real estate can generate a great return on your investment, knowing when to buy, when to hold and when to sell are critical to your profits. You can create income regardless of the economy. Using your knowledge of real estate investing, short sales, bulk reo sales and virtual real estate you will be able to create wealth for yourself.

Short Sales: Not Enough to Avoid Foreclosed Homes

Industry experts said that failed short sale deals are contributing to the increasing number of foreclosed homes in the country. Distressed homeowners who want to sell their properties at less than the amount of their mortgages watched …

A Winning Strategy – 5 Keys to Short Sale Success | RISMedia

RISMEDIA, August 6, 2009-Given the current foreclosure situation throughout our country, now, more than ever, is an opportunity for real estate professionals.

Transactional Loans: A Solution for Short Sales Financing at Real …

The transactional loan gives the investor flipping short sale properties access to money in order to close the home purchase transaction (the first transaction) when the original homeowner is ready to sell and the resale transaction …

Home Sellers Frustrated as Short-Sales Collapse | The Jacksonville …

The sales of homes for less than the amount owed the bank, known as “short sales,” have been widely viewed as an alternative that could help slow the foreclosure epidemic. In theory, delinquent homeowners escape a mortgage they cannot repay.

Short Sales in Coconut Grove

So far this year there have been 8 single family home SHORT SALES sold this year in Coconut Grove. The average length of time between the day these homes came on the market and the day they closed was 9 months.   

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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Finding Real Estate Listings

Real estate listings – Internet Vs newspaper

Whether you are looking to buy a home for yourself or whether you are just looking to just in real estate, you will need to find out what is available in the market place.Internet and newspapers are the most common ways of searching real estate listings.

With internet gaining popularity, internet real estate listings have become one of the easiest ways of checking out the real estate market. Though the traditional method of looking for real estate listings (through newspapers) is still one of the most used methods, it is a very time consuming one. You have to read through various listings and sort out the ones that seem more suitable to you (and possibly write down the phone numbers and contact details on a piece of paper) and then call up the owners/brokers to fix an appointment for viewing the property (which may turn out to be a waste of time in the end).

Moreover, the newspaper listings generally happen on a weekly or bi-weekly basis. So if a deal has materialised in the meanwhile, there is no way you can check it without actually calling up all of the local real estate companies. On the contrary, the internet real estate listings (on a good real estate listings website) are updated everyday. And new real estate listings go up live as they happen on the internet(i.e. they don’t wait for the newspaper to get published).

So, if you have been using only the newspaper as your source of real estate listing information, you might end up getting stale information and missing the home of your dreams, or the ideal investment. As such, making the first offer can make a big difference when it comes to real estate.

Further, you don’t need to go through all the real estate listings in order to determine the listings that look suitable to you. Much like Google many sites today allow you to specify various search criteria/ filters in order to get only those real estate listings that you really want to look into. This is a big advantage when compared with newspapers where listings are generally classified just on the basis of location of the property. Thus you can save a lot of time here by browsing only through the real estate listings that are of interest to you.

There is no need to note phone numbers etc; you can just take printouts of the listings you want. Some websites also provide tools/ facilities to track the search criteria for you. You could even contact the listing agent by sending a message through the website (some websites provide such email type of facility). Another important benefit from real estate listings on internet is that some of them also contain images of the property. So you can have a look at the images and see if you like the property at all.

So, real estate listings on the internet do seem to offer a lot of convenience. However, internet or newspaper is really a matter of personal choice too.

Reflections of a Newsosaur: Realtors repudiate newspaper ads

Real estate advertising in newspapers boomed along with the funny money-fueled housing market, rising to what probably will be an all-time high of nearly $5.2 billion in 2006 from annual levels of approximately $3 billion at the …

Why advertising real estate online is so much more effective than …

During his 7 years working at the company, online Australian ad spend in real estate grew from around $7 million a year to over $180 million a year. In developed markets around the world, print advertising has pretty much dropped off.

Using Real Estate Internet Marketing To Reach Out To Customers

It has always been customary for realtors to do a heavy amount of print advertising. The best marketing campaigns had real estate professional’s faces on the backs of phone books, on bus stop benches and all over the weekly newspapers. 

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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Real estate agent

All about real estate agents

Real estate agents are professionals who help buyers find property and sellers sell property. In Montana some real estate agents also do rentals where they help tenants find rentals. In some cases real estate agents are also licensed property managers who maintain the property on the behalf of the landlords. The real estate agents are paid a commission for their services, but do not receive a salary from the brokerage they work with. Real estate agents generally calculate their fee as a percentage of the selling price. People, who want to list their property for sale, leave the details of their property with the real estate agent to market and sell the property, to arrange showings of the property and present all offers to the sellers. The buyers can find the property listed on line and contact their own agent (called a buyers agent) or can call the listing agent for details and access to the property. Providing information about the property to buyers and buyers agents is part of the marketing plan.

Home buyers use real estate agents when it is a sellers market so that they have a better chance of buying a home at a price they can afford. But buyers also use agents in a buyers market where the competition is stiff and making the right offer the first time wins the bid. Agents with experience can guide buyers through the process to help them achieve their goal.

Many agents have mastered the art of negotiation and this can benefit both buyers and sellers when it comes to getting what they want out of the transaction. A seller can often get the best price for his/her property by using the advice received from an experienced real estate agent. An agent will also analyze the needs of a home buyer and show them homes available within their budget. Real estate agents will discuss their needs and make a suggestions.

A licensed Realtor is required to taking ongoing education classes every year to represent you with the sale of your home. They are required to know the local and state laws concerning the transaction whether they are representing you as the seller or the buyer or both (dual agent).

Agents work with lenders, banks, title companies, home inspectors and a host of support business and all of this networking and relationship building works for you to ensure that your sale, your purchase is handled legally and timely.

These are just many of the reasons for staying away from the pitfalls that “FSBOs” [For Sale By Owner]  have found themselves in after a sale which has ended up costing them money they did not expect to pay.

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© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: Sherry.Fields@bhhsmt.com
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