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montana: Sharing my numbers from last night's news report - 02/02/12 12:21 PM
I had a nice opportunity to do a little interview with our local NBC affiliate. The only thing I wish I would've done better was notice my tie! It's all I see when I watch this, should've not worn it or tightened it, haha.
http://www.nbcmontana.com/news/30355875/detail.html
Brint Wahlberg
REALTOR®
Windermere Real Estate
406-529-4663
While the Missoula Organization of Realtors (MOR) releases a much more comprehensive market report that won’t occur until the early spring. All of the data I’m providing I retrieved from the MOR multiple listing service.
Numbers for just Missoula (does not include Lolo, Frenchtown, or Bonner … (0 comments)
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montana: Missoula's final absorption rates for 2011 - 12/22/11 01:03 PM
OK from two perspectives, first we'll do a 30 day look-back and then a 6 month look-back for a broad perspective. As always my data comes from the Missoula Organization of Realtors MLS. Additionally I sort our data by the brackets that MOR uses as well.
Absorption rates represent how much inventory is currently listed on the market. What I put together is all active listings and then divide that number by the amount of sold properties. On the 30 day look-back I pull all the sold numbers from that 30 day time span. On the 6 month I do the … (0 comments)
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montana: With about 2 weeks left in 2011 how's Missoula looking, statistically? - 12/18/11 06:12 PM
Since I can't look at my Christmas presents early I figured I'd look at Missoula's market summary early to see what's waiting for the upcoming year end report. This year has been a very interesting one and we can finally start measuring actual market recovery now that we're comparing similar markets for most of the 3rd qtr and all of the 4th qtr of this year.
So... lets refresh, for the Missoula market (not including Lolo, Frenchtown, & surrounding areas)
2010:
- 830 residential sales
- $201,240 median sales price
- average of 122 days on market
- 46 foreclosure sales making … (1 comments)
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montana: National Triple Dip? What about Missoula, MT? - 10/31/11 03:45 PM
This morning while still trying to motivate myself out of bed I was scrolling through the CNN Money headlines on my crackberry when I saw the headline "Home Prices Heading for Triple Dip."
http://money.cnn.com/2011/10/31/real_estate/home_prices/index.htm?iid=HP_LN
Ah dangit, that's not a good way for a REALTOR(R) to start his day. But of course I know that there's always more to the story than a scary headline, it is Halloween after all. As REALTORS(R) we've trained our base and a majority of the public that each market is different and what's happening nationally may not be happening locally. So my next step was to start … (2 comments)
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montana: How to throw away $27,000 - 10/28/11 02:49 PM
Venting blog, consider yourself warned.
Two years ago I listed a home south of town for a couple, they were moving on a job relocation. I'd sold the home about 10 years back, it's a cute little one-level home out in the country on one acre. At the time the market was going pretty crazy as people were frantically scooping up houses while the tax credits existed for first time home buyers. This house was an ideal home for first-timers.
After some research and discussion we decided to list the home for $195,000. The market response was slow through the … (2 comments)
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montana: Time to get back to comparing apples to apples - 10/28/11 01:54 PM
If a lot of stat-dork REALTORS(R) like me have been constantly fuming about the continually incorrect messages the media has been sending out comparing 2010 to 2011, it's good to see that now when we look back to last year we're comparing similar markets. For many of us in the industry we realized that over the course of 2009 and 2010 until August our market was heavy with incentives with the first time and "move up" home buyer tax credit. Due to these added incentives those markets could not be accurately compared to 2010's which lacked any government-backed incentive such as the … (0 comments)
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montana: New Office - 02/14/11 02:01 PM
To our fellow clients, friends, and family;
One of our favorite quotes on facing challenges comes from John F Kennedy. When talking about the challenges our country was facing in the early 60's and rising to the occasion in a speech before Rice University he said that, "We choose to go the moon in this decade and to do the other things, not because they are easy, but because they are hard." Over the last 4 months in the midst of re-franchising and re-branding our office we have had to make some hard decisions and face challenges like never before. After … (3 comments)
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montana: National Housing Sales up 10% - what about Missoula? - 10/25/10 01:05 PM
http://money.cnn.com/2010/10/25/news/economy/existing_home_sales/index.htm?hpt=T2
Some very good news on the national scene, we're seeing housing units still recovering in a post-tax credit market. I remember my 1st day in economics class when my professor told me, "People respond to incentives," and so last year's numbers and activity shows that the overall action was inflated due to a great tax-credit for many 1st time home buyers. There has been a lot of talk about the post-tax credit market, and that it would dip but then slowly recover. So far, that suggestion (coming from NAR cheif economist Lawrence Yun) is exactly what we're seeing nationally. A 10% increase from September from … (7 comments)
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montana: The End of an Error - 08/03/10 12:47 AM
This is the the second attempt of a blog post, the first was a little narrow-focused and upon writing it I got to thinking about a listing practice in Missoula (and probably a lot of the US) that is now DOA. The old trick, "Lets price it up and we'll negotiate down when a buyer comes along." So that said, I'd like to thank you all for reading this eulogy for a dead practice that worked in NINA (no income, no asset) loan-era.
Pricing up to negotiate down had a good run, it was an awesome technique in an age when people could … (2 comments)
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montana: Lets Talk Supply - 07/31/10 02:06 AM
A Blog I read quite often is called The Calculated Risk Blog, in this story: http://www.calculatedriskblog.com/2010/07/existing-homes-double-digit-months-of.html the story I've linked to talks about expected supply of double digits in the months to come regarding re-sale homes. CRB expects supply of existing homes to get into double digits and stay there for a while. Usually when we talk supply 8 months or less is considered a "healthy" market. Based on this blog I thought I'd see how Missoula stacks up.
Missoula active listed inventory: 941
Sales to date: 522
Using the CRB math for supply: 941/522 * 7 = 12.62 months so a slightly over-stocked market. That's the total … (3 comments)
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montana: Looming housing shortage, and what it means for Missoula, MT - 07/26/10 02:55 PM
Two weeks back in Washington DC for the Realtor mid-year meetings I was pretty surprised to hear both Lawrence Yun and an economist with Moody's talk about an upcoming new construction housing shortage. Yun talked about on average the US needs to be building about 1.6 million new homes per year, however in the last 3 years new builds are non-existent, and that currently the US is about 2.35 million homes short of meeting that need. So what does that mean in the future? A big shortage, and in doing a simple Google search I can see it's not just the … (0 comments)
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montana: Tracking pending sales, pre and post tax credit deadline - 05/03/10 05:52 PM
Forgive me on the choppy post, but I thought I'd cut and paste two of my most recent blog posts regarding the market in the Missoula, Montana area. The 1st post was put online on April 23rd, the 2nd one I put up today.
4/23/2010:
With 1 week to go before the tax credit expires things are frantic to say the least, buyers are making offers left and right, and some houses are getting quite a bit of activity right now!
I thought it would be interesting to see how our market holds up with new buyer activity once this tax … (0 comments)
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montana: 2009 preliminary Missoula urban area stats - 01/04/10 03:32 PM
Not the official numbers as our MLS database is user-maintained. Recorded sales are entered by the selling broker, and sometimes there is a bit of a delay with that data.
Pulling things up today, here's what I see for the Missoula Urban area:
Sales - 899 (down 1 from 900 in 2008) a flat trend, the peak was 1374 in 2006 so a 35.5% decrease off the peak.
Median Sales price - $209,000 (down $6,000 from $215,000 in 2008) continued downward pressure is on our median, the peak median price was $216,700 in 2007 so from that 2009's median sales price is … (0 comments)
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montana: Thoughts / Summary after hearing economist Chris Thornberg - 10/16/09 03:50 PM
Every October Newwest.net holds a real estate conference regarding real estate and development in the Rockies. Each year they've had an economist, Chris Thornberg, come and speak. Chris has been on-target all three years, predicting the burst of the housing bubble, the effects of the stock market collapse, and the rise in foreclosures. This year he was the keynote speaker, and here's what I took away from it:
The United States is pulling out of the recession, all signs point to that, we're no longer heading downhill. In fact GDP growth in the 3rd quarter will be positive, the first time … (3 comments)
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montana: Datashare feedback - FNIS Paragon vs FBS Flex - 06/10/09 07:18 PM
Thought I'd put a post out there mainly for feedback from fellow Realtors across the nation.
Here in Missoula we've been long time FNIS Paragon clients, to the north of us the Northwest Montana board has recently switched to FBS Flex, as has the board to the south of us. We tend to have a lot of market cross-over that leads to some headaches with compensation, showings, etc. A solution our state has been trying to work out has been a data-share between boards.
Currently if Missoula and our two neighbors were to share data, we'd have three options (there's probably … (1 comments)
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montana: Lets talk stimulus & Montana! - 03/03/09 05:35 PM
Yesterday I took some notes from an economics professor at the UM. He had some info on how this stimulus affects Montana. Here's what I wrote down:
- $626 million for the State of Montana, in his opinion a little low per capita.
- 1/3 of that is for highway funding, he reminded us that many city streets are considered highways, such as Brooks, Russell, and Reserve here in town. He suggested that most likely this stimulus will allow projects such as the Russell St expansion to take place.
- In his opinion a lot of the stimulus money is going … (0 comments)
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montana: CNN's state of the economy tracker and Montana - 03/03/09 05:34 PM
http://www.cnn.com/SPECIALS/2009/map.economy/index.html
Some interesting stuff here:
- Regarding unemployment, Montana appears to be pretty good, almost 2% below the national average
- Jobs by industry, Montana is one of the many Rocky Mountian states that is showing healthy growth
- The lowest foreclosure rate in December of 0.009%
… (1 comments)
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montana: The biggest mistake Realtors make on social networking sites - 01/16/09 02:46 PM
Social networking is not just the future, it's right now. And there's a ton of agents who are jumping on sites like ActiveRain here or Facebook and countless others. However I'll warn a lot of you, if you take a straight-laced and professional approach to it, you'll be making a big mistake, here's what I mean:
Be yourself, share your opinions, put up photos of your family, or pets, or travels. Tell lame jokes from time to time, rant about something that annoys you that isn't industry specific. Basically, be human. The modern consumer wants an experience, and they want to … (10 comments)
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montana: Using Google Calendar with a sales team or for association work - 01/16/09 02:25 PM
I've seen the light, and it's Google Calendars.
No, I'm not a Google rep, I'm just really happy with my experience that I've had with Google Calendars, because of my sales team and my association, and I thought I'd share it quickly with you guys. It's a great tool to use if you're looking to improve communication on scheduling with your associates, I can't say enough about it.
I'm in a mother-son sales team, I'm the tech-dork, Mom is the old school broker. We're a great team b/c I bring a lot of new styles of communication and tech ideas to … (6 comments)
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montana: Dear Realtors: STOP IT! - 01/09/09 11:20 AM
Gang,
I've been here for a few days, I feel like we're all friends here, so I've got some simple advice. Stop complaining to the consumer about your expenses, please.
On the front page of activerain today: http://activerain.com/blogsview/873117/Expenses-of-a-Real-Estate-Agent
A very well written article, and spot-on expenses are tough in this business. However I felt like I needed to respond to this, because Realtors complaining about their expenses to the consumer drives me insane. Here's my response that so far appears to be getting ignored:
"While it is a good and in-depth list, put yourself in the consumers shoes. What would the … (10 comments)
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Brint Wahlberg
Missoula,
MT
More about me…
Windermere Real Estate
Address: 2800 S. Reserve Street, Missoula, MT, 59801
Office Phone: (406) 541-6550 x 242
Cell Phone: (406) 529-4663
Email Me
Mainly Real Estate-based discussion about whatever floats into my head.
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