real estate: INCOME BY COUNTY HOUSINGS STRENGTH OR WEAKNESS
- 10/11/10 05:01 AM
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.
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real estate: list price to sales ratio
- 10/09/10 04:29 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 … (1 comments)
real estate: measuring market srength
- 10/08/10 01:45 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)
real estate: comparing september sales
- 10/06/10 03:44 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.
real estate: makert stats through september 2010
- 10/05/10 01:59 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)
real estate: national pending sales for august
- 10/04/10 04:13 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
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real estate: what a tangled web you weave when you first practice to decieve
- 10/04/10 01:20 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)
real estate: rental market trends
- 09/27/10 02:37 AM
below are two graphs the first shows availability of apartments in Yellowstone county. the second shows the pricing. it appears to be a dichotomy with less unit available yet the pricing is also down. what has occurred is the high rental market has softened due to the tax credit and historically low interest rates. the high end competes with home purchasing so it has softened in terms of pricing therefore the average price has moved down . the median has moved also but you can see not as much as the average since the average is affected more by the higher … (0 comments)
The Fed purchased a net total of $10 billion of agency-backed MBS through the week of March 10. This purchase brings its total purchases up to $1.23 trillion, and by the end of the first quarter 2010 the Fed will have purchased $1.25 trillion (thus, it is 98% complete).
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real estate: housing starts and permits
- 03/17/10 09:54 AM
the latest news on the home construction front remains less than robust. unfortunately we probably will not see any improvement in new construction until all the repossessed and problems loans are out of the market, at the rate those problems are being rectified probably the earliest we will see new construction in positive momentum will be 2012. this graph is permitsissued, yes i would agree we have seen the bottom yet creeping along the bottom is not recovery. permits have been at historical 50 year lows now for 14 months.
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real estate: rent vs buy
- 11/15/09 03:49 AM
Thought it might be useful to show the effect on interest rates on the decision to rent versus purchase a home. The comparisons contain over 4000 rental housing units advertised in 2009 and over 1150 closed home transactions. Payment figure a financing of 100% of purchase price 5% interest rate for 30 years showing the principal and interest payment. Taxes and insurance are not included, yet if you factored in the tax savings versus the tax & insurance costs it's about a wash. The following charts do not take into account the benefit of $8,000 tax credit given to you … (3 comments)
real estate: MARKET COMAPRSIONS 1ST QUARTER 2009
- 05/16/09 09:54 AM
How Billings market compares to other areas with similar median sales prices for 1stquater of 2009. THE INFORMATION SHOWS WHY I HAVE ALWAYS SAID THAT THE BILLINGS MARKET IS LIKE A HIGH GRADE BOND. IT DOES NOT PROVIDE FLASHY RETURN YET IT PROTECT YOU CAPITAL. WITH ALL THE TURMOIL IN THE MARKET PLACES THE STATEMENT IS MORE TRUE TODAY THAN EVER. Billings Mt $179,900 $178,000 -1.05% 4.7% I don't know about you but I'm glad I live in Billings Montana
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real estate: SUB PRIME LOANS
- 05/16/09 09:45 AM
Your tax dollar at work.Two things to note in maiden lane2 (a federal reserve llc) 84% of the holdings are alt a sub prime mortgages of which they indicate that 57.8% are investment grade rated, 44.1% of the holdings are in Californian and Florida. The federal reserves analysis of sub prime and alt A in %60 days or more behind % of loans in foreclosure % already reo Californian Sub prime 21.5% 14.2% 12% Alt A 16.2% 9.3% 5.2% Florida Sub prime 18.4% 26.8% 5.8% Alt A 12.7% 21.2% 2.8% Now I am … (0 comments)
the state of montana has passed a program to lend buyers $5,000 of the avaiable $8,000 credit. the montana board of housing is working to get the program up and running. more on thta soon what follows is what other sates are doing. and some of the rules The credit is available to first time homebuyers, defined as an individual who has not owned a home in three year period prior to the purchase. Eligible buyers … (0 comments)
real estate: INTEREST RATE DIRECTION
- 05/16/09 09:35 AM
If you think mortgage interest rate will stay low without this infusion, you might want to double check how printing money by the fed so they can sell debt to Chinese, so they fed can purchaser Fannie and Freddie mortgage backed securities will work without the Chinese. I.e. the lack luster Treasury bond sales last week the 10 year bond is now at 3.21% up from 2.59% on march 19th 2009. In the short run you will be able to fool some of the people some of the time, but you can't fool all the people all the time. Any buyer … (1 comments)
real estate: Real Estate In Slump? Not Here
- 12/16/07 04:52 AM
News article from the Billings newspaper The Billings Gazette, written by Jan Falstad, December 16, 2007 http://www.billingsgazette.net/articles/2007/12/16/news/business/28-haveyouheard.txt
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.
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