Mike & Mariana Priske's Blog

CITY OFFICIALS VOTE TO RAISE HOME PRICES IN MISSOULA- (DOESN’T WANT TO HEAR COMPLAINTS FROM DEVELOPERS/AFFORDABLE HOME ADVOCATES.)

Mike & Mariana Priske (Priske Realty & Development PC) — Tue, 16 Sep 2008 16:35:19 -0700

First of all I would like to thank Missoula City Councilwoman, Stacy Rye, for summing up the city’s attitude toward affordable housing (Missoulian article Building fees will increase 9/26/08) by stating she didn’t like developers using affordable housing as an argument against paying their fair share. Until now I was not able to figure out what the city wanted. City officials along with the mayor are constantly complaining about the lack of affordable housing, and have created countless meetings and even a special task force to address the issue, yet everything the city does makes housing less affordable.

From my experience:

1) Raising the building fees will cause the price of housing to go up.

2) With all of the city’s new regulations and rules, an approval that used to take one year to work through the system now takes two, and in the case of a subdivision, more often, three years. This increases carrying costs. For example: If you invest 1.75 million into a project at 7.5% interest, the extra year costs an additional $131,250 in interest expense only, plus the costs of taxes and insurance.

3) With the extra year also comes inflation. If inflation is 5% a year (and right now inflation for building materials is way higher) a unit that would have cost $150,000 to build last year will now cost $157,500 (for the exact same product!).

All of these factors ultimately raise the cost of housing. Perhaps the most offensive remark made by Rye is that developers need to pay their “fair share”. Stacy please take a look around our community, a huge part of it is either linked to or totally dependent upon housing.

Here is a list of some of the people/companies that have received money from our development: Architects, electricians, engineers, planners, surveyors, framers, finish carpenters, fabricators, plumbers, laborers, road builders, excavators, masons, siding installers, truss builders, painters, flooring suppliers/installers, dry-wall installers, cleaners, truckers, delivery services, heating/cooling suppliers/installers, appliance suppliers, furniture stores, interior designers, roofers, lighting suppliers, movers, shelving installers, counter top suppliers/installers, cabinet makers/installers, landscapers, sign makers, billboard sales companies, lumber companies, window manufacturers, cement companies, asphalt companies, real estate agents, appraisers, title companies, insurance companies, power washing companies, lenders, city/county employees, website designer/host, the local newspaper (advertising), heavy equipment operators, rental companies, satellite television providers, metal fabricators, insulators, welders, railing suppliers, truck and equipment sales, temp services, recycling companies, house movers, Internet service providers, telephone service providers, copy companies, local party favors supplier, coffee suppliers, fencing suppliers/installers, water/sewer, maintenance management companies, surveillance equipment suppliers/installers, utility companies.

Now let’s take a look at some numbers from a project we are currently building. It is what the city would define as “affordable” as even our most expensive units are still under $200,000:

1) We estimate that our building permits and fees paid directly to the city will be $182,229 (before the 25% an increase, which will bring that number well over $200,000).

2) We estimate to increase the annual tax base by 132 units X $1,750 per unit = $231,000 per year (before the new tax increase).

3) We estimate to increase the annual city sewer revenues by 132 X $220.00 = $29,040 per year.

4) We are pumping tens of millions of dollars into the local economy by providing good paying jobs to people who live here.

Please explain to me how I am not paying my fair share… Also, with regard to you tipping your hat and calling city finance director Brennt Ramharter a “ Boy Scout” for raising taxes (Missoulian article 09-09-08), I am a Boy Scout too and one of the first things I was taught was responsibility. It seems to me the responsible thing to do in a slowing economy and housing market is to cut expenses not increase them.

Michael Priske

Developer/Affordable Housing Advocate

09/16/08

NEW LUXURY CONDOS! THE 4100-FROM $139,900!

Mike & Mariana Priske (Priske Realty & Development PC) — Thu, 03 Apr 2008 15:44:38 -0700

Where inspired style, unparalleled craftsmanship, and a commitment to Building Green are finally matched with affordability! Choose from one of three smartly designed floor plans ranging from a spaciously designed Studio, to a stately two bedroom, two-bath residence.

Each plan comes in our standard Signature Silver Package:

Tile in Kitchen, Baths, & Entryway. Gas Fireplace, Walk-in Closets

A/C, 9' Ceilings, Rustic Alder Cabinets, Covered Carport

Energy Efficient Appliances, Home Office or Computer Work Station

Private Covered Balcony, Pre-Wired High Speed Internet

Large Windows, Extra Storage

An optional upgrade to our Signature Gold Package includes:

Brazilian Granite Countertops in Kitchen & Bathrooms

Choice of Stainless Steel or Black Appliances

Raised-Panel Alder Cabinets w/Distinctive Crown Molding

Under-Cabinet Accent Lighting, Designer Lighting Package

Custom Walk-In Closet Shelving & Kitchen Pantry Option

Elegant Painted Base Molding & Trim

9' Interior Walls w/Vaulted Ceilings

Additional amenities include an exclusive Clubhouse w/Fitness Center, convenient elevator, covered carport, optional garage, & more!

NEW CONDOS!

Mike & Mariana Priske (Priske Realty & Development PC) — Tue, 04 Dec 2007 14:25:12 -0800

Conveniently located near shopping, restaurants, schools, hospitals, and movie theaters, the Tina Avenue Condos provide a lovely setting for living in Missoula. Each unit features easy one level living with spacious 9 foot or vaulted ceilings, a cozy gas fireplace, air conditioning, tiled kitchen, baths, & entryway, maple cabinets, upgraded appliances, extra storage, a covered deck, & carport for covered parking.
Extra attention has been given to the sound-dampening systems providing acoustical separation between units.
With convenient access to highways I-90 and I-93, you'll find it easy to get anywhere in the Missoula area, to the Airport, & the University of Montana.
The Tina Avenue Condos are built with quality in mind to provide residents a maintenance-free lifestyle perfect for enjoying all Missoula has to offer.
CLICK HERE to see all floor plans.
HOME OWNER ASSOCIATION DUES: $75.00 MONTHLY
DIRECTIONS: TAKE NORTH RESERVE TO TINA AVE. (ACROSS FROM LOWE'S) WEST 1/2 BLOCK.

GO TO WWW.TINACONDO.COM TO SEE MORE!

WELCOME TO MOUNTAIN MEADOWS!

Mike & Mariana Priske (Priske Realty & Development PC) — Tue, 04 Dec 2007 14:18:55 -0800

Go to www.priskerealty.com to see all available pictures, floor plans, lots and pricing .

Mountain Meadows is a newly designed neighborhood located 1/4 mile south of Florence and situated at the base of the Bitterroot Mountains. These new quality homes offer spectacular views of both the Bitterroot and Sapphire Mountain Ranges.

The neighborhood is designed to take advantage of Montana’s spectacular natural beauty, and still have quick and easy access to services in town.
With 3 separate park areas totaling over a generous 7 acres, the neighborhood boasts plenty of open space and a complete trail system that ties into a pedestrian walkway extending for miles.

Generous lot sizes, varying from 20,000 sq. ft. to 35,000 sq. ft., give residents ample elbow room without the maintenance of acreage. The majority of lots are adjacent to, or across from an open park area. All homes are on a community sewer system.
MAKE MOUNTAIN MEADOWS YOUR RESIDENTIAL RETREAT.

PLANNING TO BUILD?

Mike & Mariana Priske (Priske Realty & Development PC) — Tue, 04 Dec 2007 14:15:09 -0800

WHY YOU NEED AN AGENT WHEN BUILDING A HOME

Cost to You
Nothing! Any compensation given to REALTOR is recognized by the builder as a marketing fee and has no impact on the final cost of the home. Builders desire, expect and encourage REALTOR participation.

Savings to You
Are you getting what you're entitled to have ... both in quality and value? Your experienced agent knows what you should receive and what "extras" might be available.

Resale...Appreciation & Profit
Give your investment the best opportunity for appreciation at resale. Questions concerning site location, builder, design and decor are important. Your agent knows you are building not only for today ... but for tomorrow.

You Are Represented
With your real estate agent, YOU are represented! Your agent's experience, knowledge, and reputation represents strength and leverage on your behalf.

Come join the fun-Mensa in Missoula!

Mike & Mariana Priske (Priske Realty & Development PC) — Thu, 06 Sep 2007 14:06:57 -0700

This is a fun Tuesday evening testing your great (or not so great) trivia skills! For all you lovers of trivia…our local Missoula Mensan chapter meets at Sean Kelly’s every Second Tuesday of the month at Sean Kelly's Bar and Grill at 130 West Pine. Everyone invited. Join the trivia contest (we play as "The Owls") or just visit for drinks, food and conversation. If you would like to come just show up! If you want more information on how to officially become a member of Mensa call me (Mariana Priske) at: 406-880-4222. I am the area coordinator/contact and can hopefully answer questions you may have. Hope to see you Tueday!

Welcome Students!

Mike & Mariana Priske (Priske Realty & Development PC) — Wed, 22 Aug 2007 16:38:59 -0700

Posted by Mike Priske:

Parents and Students Guide to making College a Profitable Experience!

It's that time of the year again!

School has started, everyone is back in town, and it's time to get back to work.
Students are going to be busy with schoolwork and may put off housing until the next time the lease needs to be renewed. As a graduate from the University of Montana myself, I know now is a better time than any to start the search for a home to live in for the rest of the student’s career here at the University of Montana.
I know next semester’s housing situation is one of the last things parents and/or students are going to be thinking about, so let me do the thinking for you.
Just let me know what you will be looking for and I will continually send emails or if you prefer, call with updates on what the market is doing and what is available in your criteria.
I can show you how to earn a profit during college by purchasing a home that you can live in during your time here, get help on the payments by friends or roommates (if you choose), and see money go back into your pocket when you graduate and sell your home.
Take a look at our Rent vs. Buy calculator.
After clicking on this link just choose the Rent vs. Buy option from the drop-down list at the top of the page.
It would be my pleasure to teach you the systems that I, myself, and many students have used to create a financial gain while attending school.
For more information on how this system works please contact me with questions. The lessons learned outside of school may save you thousands of dollars.