infromation about where the tax credits are claimed - 10/21/10 09:18 AM
i ran acorss this infromation i thought it might intersting to all of us thta sell real estate.
According to GAO, through July 3, 2010, approximately one million claimants claimed $7.3 billion in interest-free loans through the Housing and Economic Recovery Act of 2008, which provided homebuyer assistance in the form of a refundable credit for homes bought after Apr. 8, 2008 and before Jan. 1, 2009; Another 1.7 million claimed $12.1 billion in homebuyer credits using provisions of the American Recovery and Reinvestment Act of 2009, and 600,000 claimed $4.1 billion in credits under the provisions of the Worker, Homeownership, … (1 comments)

housing permit infromation - 10/21/10 09:08 AM
the new constuction reamins enemic and probably will  stay that waythrough 2011. hard to see real improvement until the froclosure mess has reached its zenith and the properties are thta are being forclosed on now are sold and don't rpesent a drag on pricing.

 

 
 
 
 
… (1 comments)

makert stats through october 15th 2010 - 10/21/10 09:00 AM
 here is the a market update through october 15th 2010. closed sales are slowing realative to last year which again is the driect resault of the tax credit. a more tradition mix of slaes prices is leading to the increase in the avarge an median sales price. not some underlying strength in pricing which still reamins weak

… (2 comments)

9433 us highway 87 shepherd montana - 10/20/10 07:34 AM
… (3 comments)

1057 ginger avenue billings montana - 10/19/10 09:00 AM
… (1 comments)

408 kulhman billings montana - 10/19/10 08:56 AM
… (1 comments)

forclosures let the fun and games begin - 10/14/10 10:33 AM
The bottom line on all the mis ques is, housing will be hurt for years to come. A major point to remember is the purpose of the loans were not to buy houses but to have loans to securitize to make profits for wall street. The home loan was just a by product of financial wizardry and  that is why there was so much sub prime wall street and the rating agencies "shaked and baked" bad loans into "A" paper and made  billions selling the paper. We are now experience the end results of the poop train. When you start with … (0 comments)

rent versus own with todays interst rates - 10/12/10 08:58 AM
Rent vs. own
How the interest rate makes owning almost a no brainer
 
Right now in Yellowstone County the average priced home sell for $212,242 and the median priced home sell for $188,000.using those figures than comparing renting to owning shows the power of interest rates and moderating prices in the market place. Your total payment on an average sales priced home is $1294.82 per month that compares to $1040 to rent the verge home in Yellowstone County. The median sales price home costs $1146.00 per month as compared to $950 to rent the median priced rental home in Yellowstone … (2 comments)

INCOME BY COUNTY HOUSINGS STRENGTH OR WEAKNESS - 10/11/10 12:01 PM
STRENGTH OF HOUSING, PRICING AND SALES IS RELATED TO THE INCOME IN THE AREA. IN MONTANA WE HAD SEVERAL AREAS THAT THOUGHT THEY HAD DISCONNECTED FROM LOCAL INCOME TO THE PRICING OF REAL ESTATE. NOW WITH THE NATIONAL ECONOMY IN THE DOLDRUMS AND LENDING PRACTICES CHANGED THE PRICING IN THE MID TERM WE MOVE BACK TOWARDS RELYING ON LOCAL JOBS AND INCOME. THE CHART BELOW SHOWS 2009 AVERAGE INCOME PER JOB BY COUNTY. YOU CAN PONDER THOSE AREAS THAT WILL HAVE TO MAKE THE LARGEST ADJUSTMENTS IN THEIR HOUSING MARKET.

… (0 comments)

list price to sales ratio - 10/09/10 11:29 AM
one of the trends that always show up as the market shifts is the relationship of sales price to list price ratio. when times are good the difference between list price and sales shrinks since the sales are following the listed price up. yet when the market turns down as we are living through now the gap between listed price and sales grows. the real difference is pricing becomes much more difficult as the market slows. sellers want to believe the slow down has not affected their property and agents, as business is shrinking, sometimes find it hard to confront the … (2 comments)

measuring market srength - 10/08/10 08:45 AM
time to update on overall market strength. the measuring tool i use is the percent of pending to active listings. this shows the balance of inventory to buyers in the market place. at this point in time you can see three things. #1the market shows the number of buyers in the market place has stabilized in relation to the number active properties. #2 the tax credit had a huge impact both when it was in existence(positive) and when it expired (negative). #3 the market is close to its "normal" slow down period. if we see the relationship stay where it is … (0 comments)

comparing september sales - 10/06/10 10:44 AM
I THOUGHT YOU MIGHT ALSO WANT TO SEE HOW SEPTEMBERS MATCHED UP. YOU CAN SEE A GRADUAL SLOWING OF SALES IN YELLOWSTONE COUNTY. ALTHOUGH NOT FUN TO BE 31% BELOW 2006 THE SLOW DECENT ALLOWS THE MARKET TO RESPOND WITHOUT HUGE DISRUPTION. ALSO THE CLOSED SALES THIS SEPTEMBER BEING 38% LOWER THAN LAST YEAR IS AGAIN THE REMINDER OF THE TAX CREDIT. I HATE TO THINK WHERE WE AS A COUNTY AND COUNTRY WOULD BE WITHOUT 4% INTEREST RATES.

… (0 comments)

1750 high serira billings montana 59105 - 10/05/10 06:52 PM
… (0 comments)

makert stats through september 2010 - 10/05/10 08:59 AM
Three quarters through the year and the defining aspect of the market is a tax credit that no longer exists. When the tax credit ended April 30th closed sales were 12% ahead of 2009 and pending sales were 37% above 2009. So despite the lowest interest rates in a lifetime buyers left the market. The positive for Yellowstone County is the inventory while higher than a year ago (14% in September vs. 12% in April) shows some semblance of stability in the market place. On the surface both the average and median sales prices show positive upward trends, yet you still … (1 comments)

national pending sales for august - 10/04/10 11:13 AM
the national assoc. is spinning august homes as up from July 2010 while true , that does present a true picture of the market . we are down 20.15 from august of last year with 4% interest rates

… (1 comments)

what a tangled web you weave when you first practice to decieve - 10/04/10 08:20 AM
thought this might be of interst in the forclosure front first we did "no doc" loans and now we are trying "no doc" forclosures.
In testimony, a lawyer for Chase conceded that a law firm that had previously represented the bank, the Steven J. Baum firm of Buffalo, had filed inaccurate documents as it sought to take over the property from Ms. Nuer.
The Chase lawyer told a judge last January that his predecessors had combed through the chain of title on the property and could not find a proper assignment. The firm found "something didn't happen that needed to be … (3 comments)

house hold size and housing - 10/02/10 08:28 AM
the census bureau shows house hold size increased in it most current survey. while the increase is Small when spread across the population of the united states , it translate roughly into 1.3 million fewer households. so guess what, that decreases demand for housing. just another indicator that in the near term the next 2 to 5 years housing overall will operate at a slower and lower level.

… (2 comments)

if foreclosures did not present enough problems - 10/02/10 08:17 AM
pretty hard not to be aware of the issues going in the firclosue process yet i thought i would pass this along
Bank of America, the country's largest mortgage lender by assets, said on Friday that it was reviewing documents in all foreclosure cases now in court to evaluate if there were errors.It is the third major lender in the last two weeks to freeze foreclosures in the 23 states where the process is controlled by courts. ...Bank of America, in an e-mailed statement, said it would "amend all affidavits in foreclosure cases that have not yet gone to judgment."
… (2 comments)

chineese dry wall - 10/01/10 09:38 AM
thought this might be usefull infromation for people around the country that might be affected.
IRS Provides Relief for Homeowners With Chinese Drywall
The IRS yesterday (IR-2010-102) released Rev. Proc. 2010-36, 2010-42 I.R.B. ___ (Oct. 18, 2010), which provides a safe harbor that allows homeowners to treat damages from corrosive drywall as a casualty loss and provides a formula for determining the amount of the loss.
… (0 comments)