I can't tell you how many people stop me to ask how my business is now more than ever.  I can tell you when things were clipping along at an obviously active pace a few years ago it was not a daily question.  It was just assumed that homes and land were selling and that if you owned a home it was a good investment.  Now standing in line at the grocery or hanging out by the grill with friends that question is a burning one on virtually everyone's mind.  "Is anything moving?"  "Has anything sold?"  If I have a transaction going on they want to know the details.  I'd love to tell them that everything is OK - and really that is what they want to hear.  But its tough being truly honest with people without sounding like "debbie downer".  I basically say to people that if they are in financial straits its a rough ride right now. But if they have good employment or money stocked away for retirement there is huge opportunity.  Especially in the Flathead Valley where regular working man affordability practically went out the window just a few years ago.  Now it is back and folks that have secure jobs ought to be going out and purchasing that investment property they thought they could never afford.  Go and do it now while interest rates are so low.  Real estate in the Flathead Valley will start to go up - it definitely is going to take a few years to turn around "the Titanic" but with a long term outlook "its a good thing" (Thanks Martha Stewart)

Just returning from the RE/MAX International Convention 2009, I heard some great short and sweet quotes.  Here is one that kind of sums the attitutude sellers need to embrace:  Its a “Price War” and a “Beauty Contest”.... meaning not only do properties have to be priced laser sharp, but they also have to be in top notch condition (de-cluttered, clean and staged).

Many sellers in Montana live out of state and therefore don't get the local chat about the specifics of the Flathead Valley economy and hence real estate.  So its helpful when the news media actually interviews a person who has their thumb on the actual, real statistics and not just heresay.  I am linking the real estate article from the Missoulian who interviewed Jim Kelley a long time appraiser in the Flathead Valley.  The headline of course is emotionally charged but that sells papers.  The analysis of the 2008 real estate market in the Flathead Valley is painful to read if you are a seller, but its better to be in the know than in the dark. I keep reminding my sellers that real estate is just like a stock or memorabilia - its a performing or non-performing asset in you portfolio.  So sit down, take a deep breath and read on.  Then make an informed decision.

In NW Montana, emboldened by the rapid increase in values several years ago, are a substantial number of sellers who have their homes or land on the market, particularly higher end - trophy properties and valuable waterfront - lets say over 1 million list price.  There are far more "for sale" than there are buyers absorbing this extensive high end inventory right now in the greater Flathead Valley.  Because most sellers overall in this category are financially comfortable, they have not been dropping prices on an extensive level - basically they've been holding out for their "perceived value" because they have the financial means to do so. 

But this same group may inadvertantly be partially the cause of some their own future value reduction. Heres why . . . When buyers come a lookin' they are met with such an abundance of options that they very much internalize the supply & demand tactic when writing offers.  I've seen virtually no sense of urgency from these high end buyers because if they happen to miss out on one, there are plenty more showcase properties to look at.  They have no real compelling reason to offer full price even if the price seems under market.  Flathead Lake alone has over 100 homes for sale (thats not counting waterfront condominiums on Flathead Lake).   Eventually they'll happen upon the few in this group of sellers who are very motivated and will sell at a substantially reduced price, perhaps less than they had too if the inventory had been less.  If however those sellers who didn't need to sell were off the market, the buyer's choices would be more limited thereby decreasing supply and keeping prices more stable.

While its nice to have your property on the market thinking that if someone comes along who will pay what you are asking you'd sell, but until you are really ready & motivated to sell you are in essence flooding the market and probably really just enabling the market to fall, decreasing your own chances of getting a full price offer, and in general decreasing the value of your own real estate portfolio.

Being in the thick of real estate everyday and seeing great investment opportunities via our NW Montana MLS virtually on a daily basis I feel frustrated at the never ending media blitz about the doom and gloom of real estate.  Hey, if you've been a good saver (as many Baby Boomers have been) and you are smart about your investments this the time to jump into, or back into, real estate investing.  I mean, why wait until you've heard that the market has started back up again - then you'll be catching up. 

With such a plethora of options in the Flathead Valley, (unlike a few years ago) folks with a decent portfolio ought to be out there picking up at least a rental or two.  If your investment portfolio is above the working man, then picking up some waterfront on one of our area lakes should be a priority.  Flathead Lake has over 70 homes for sale with frontage, and that doesn't count Flathead Lake condominiums with shared lake access.  The variety is huge so you can be picky.  I remember when there were only a dozen or so to even show a buyer and those were experiencing multiple counter offers and of course lots of stress on both buyers and sellers. 

Take a look at our map of waterfront / lake properties for sale in the Flathead Valley.