The Bozeman School District has set a new enrollment record of 6,294 students showing the continued growth of Bozeman and its attraction to parents. The record actually fell 51 students short of projected numbers but still had 108 more students than any other year.
Increasing enrollment numbers in both Bozeman elementary and middle schools have driven the overall enrollment numbers to their heights. This year, 2,946 children enrolled in Kindergarten through 5th grade. 1,375 students enrolled in grades six through 8. Both records are all time highs.
Bozeman now has more than 500 kindergarteners enrolled in the … (0 comments)
“The power balance in the real estate world is shifting faster than ever. Travel titans, search engines, investment oracles and government entities all want to change the way we do business. Most just want to control a larger piece of the pie.” (Source)
In the everyday functioning of a real estate office, attracting and retaining agents is a top priority. Real estate, although a volatile market, is a rather stable numbers game when it comes to the number of agents entering versus retiring. With that being said, the ability of a broker or agent to … (0 comments)
bozeman real estate: Investing Options: Tapping into Your Home’s Equity
- 08/30/13 01:50 AM
When the housing market is in a full swing recovery like it is today with interest rates still historically low and inventory changing daily, it is a good time to see how you, the ‘happy in your current home and not looking to move,’ can tap into the market through investing. Usual Methods of Real Estate Investment: These include: financing a new purchase with a mortgage or selling some stocks and bonds, taking money out of your IRA or from your 401(k). These are hit and miss and sometimes turn out to be not-so-smart moves but they seem to be the … (0 comments)
bozeman real estate: New Chapter In Housing Market Recovery
- 08/26/13 04:23 AM
The nation experienced a 5.24% decline in housing inventory this July. At the same time, the national median listing price increased by 5.27%. “The recovery is entering a new phase where inventory shortfalls are no longer the driving force behind changes inhousing prices in many markets. Larger inventories, especially in the hotter markets that experienced rapid price increases in the spring, are expanding buyers’ choices and helping to moderate price increases,” said Steve Berkowitz, CEO of Move, Inc. “This month’s report also underscores the uneven nature of the housing recovery and its dependence on the strength of the local economy.” This new … (0 comments)
bozeman real estate: Eminent Domain Plan and Real Estate
- 08/14/13 05:48 AM
Freddie Mac is making a bold move by threatening legal action against the city of Richmond, CA because they are planning to use eminent domain to seize underwater mortgages. Richmond’s Stance: In offering to buy troubled loans at below market value from mortgage companies, they are then able to write down the loan balances for the new home owners and refinance the loans into government-backed mortgages. IF the mortgage companies refuse to allow them to buy the loans, they city will play the eminent domain card and seize them. This whole plan is theorized to help residents curb the loan debt … (0 comments)
bozeman real estate: Back to School and the Real Estate Market
- 08/06/13 01:31 AM
After the thralls of summer begin to fade into the dry grasslands that signal in fall, parents start thinking about the school season. In fact, a recent realtor.com survey found that school districts impact 60% of home buyers. This carries so much clout with some buyers that are willing to spend more in order to buy within a the district they want their children to belong in. This oftentimes takes a higher priority than parks, trails, and other amenities.
A majority of the home buyers surveyed said that school-district boundaries will have an impact on their buying decision: 23.59 percent would pay … (0 comments)
bozeman real estate: Selling Your Home in a Rising Rate Market
- 07/11/13 02:49 AM
This past year has brought with it significant improvements to the wounded market we all lived through last year. With this healing process, the world of a seller became an ease as the constraints of limited inventory, low prices, and low mortgage rates all converged. Slowly listing prices began to rise and now, mortgage rates are following suit. “There’s no one in the business right now who doesn’t think the market hasn’t taken a step back. The evidence is all around us,” said Glenn Kelman, chief executive of real-estate brokerage Redfin. (SOURCE) A good rule to follow is that 1% increase in … (13 comments)
bozeman real estate: Healthy Real Estate: Bursting Bubble Fears on the Rise
- 07/03/13 06:07 AM
“Prices are increasing quickly, though that may not always be the most healthy development for the economy. Also, banks may soon loosen overly strict requirements, but a choke point remains in new-home construction.”(source) “The median home price jumped 8% from the previous month to $208,000, according to NAR. While month-to-month price swings are not unusual, the year-over-year rise is now 15%, and prices are at levels last seen in the summer of 2008, just before the bursting of the housing bubble.” (source)
The housing recovery is in full swing. The surge in the market caught many by surprise with how fast and how … (0 comments)
bozeman real estate: Want to be Happier & Healthier—Buy a Home
- 06/26/13 01:30 AM
Canada Mortgage and Housing Corp. has done a recent study on Habitat for Humanity families evaluating the amount a family’s life changes when they move into a home. The results ultimately found that families who own a home are healthier, happier and more financially secure. 89% said their lives improved since they moved into their homes. 86% said they’re happier since owning a home. Children’s school performance improved, they saw signs of increased confidence, improved behavior and enjoyment for studying and social activities. 75% said their health had improved since becoming home owners. "There is evidence from numerous studies that … (0 comments)
bozeman real estate: Seller Disclosures: Protecting Yourself As You Sell
- 06/17/13 03:29 AM
When a listing file gets turned into me here at the office I oftentimes do not have the seller’s disclosures tucked away neatly inside. In fact, the seller disclosures are the primary documentation I have to ask for from the sellers as soon as an offer comes in. Why do we give the seller so much extra time with these disclosures? Well, it is because the information disclosed within a seller’s disclosure is the primary way for a seller to communicate with a buyer about all the material information, home owner’s knowledge and details about the home that can only assist … (4 comments)
bozeman real estate: Bid Adieu to 3% Mortgage Rates
- 06/13/13 02:29 AM
In this week alone, the average 30-year fixed-rate mortgage rose 10 percentage points to 3.91% and are up from 3.3% seen in early May. 15-year loans are up from their 2.56% to 3.03% as well. This trend does not look like it will change. “It’s unlikely that rates will ever be that low again.” said Doug Duncan, Fannie Mae's chief economist.
Here are some of the reasons why: THE FEDThe Fed has been stepping in and actively keeping rates at rock-bottom levels by buying up to $85 billion/month of Treasury bonds and mortgage-backed securities. This purposeful manipulation of the market has enabled lenders … (0 comments)
Misunderstood News: April saw a sharp fall in housing starts primarily due to apartment and condominium declines. The Census Bureau reported a 17% reduction for the month with a 38% drop in multi-family units. This emphasizes the volatility of the market since each livable unit with such buildings counts as an individual statistic. New building starts boasted gains of 14%--much coming from the building of large apartment buildings.
Straight–Forward Good News: The two more stable measurements, single-family home starts, fell only 2% allowing the overall stat to remain 21% above last year’s levels. In addition, near-record low mortgage rates in combination with the … (0 comments)
bozeman real estate: Mortgage Credits Adjusting to the Market Recovery
- 05/23/13 06:05 AM
Mortgage standards that have kept many potential buyers out of the market are beginning to loosen. In addition, banks are speaking about increasing their mortgage business soon and shore up their residential mortgage assets within the next year. All these prospective changes are being driven by a sharp rise in mortgage demand in conjunction with more home purchase applications being approved (60% compared to 55% of a year ago). This will combat but not fully eliminate the highly competitive home buying market that will still require standards such as 20% down. “Fear Fannie Mae and Freddie Mac will force lenders to take … (0 comments)
bozeman real estate: Real Estate Milestone Achieved
- 05/21/13 03:47 AM
Housing starts are at 1.04 million, up 7% from this February and up 47% from this time last year. This number is achieved highly due to the recent surge in building apartments and condominiums. These multi-family units alone jumped 82% as compared to last year. Each unit within these types of complexes is counted in the statistics so they can be extremely volatile. When looking at a more stable number, single family units, the percentages have actually fallen by 6% since February. But, there is a strong demand for the multi-family and rental type living environments that does not seem to … (2 comments)
bozeman real estate: 7 Year-Highs: Home Prices Post Their Biggest Gains
- 05/14/13 05:36 AM
Median Existing Single-Family saw their largest annual gain in more than seven years in the first quarter of 2013. The median home price rose from $158,600 to $176,600, a gain of 11.3%! “The supply/demand balance is clearly tilted toward sellers in a good portion of the country,” said NAR Chief Economist Lawrence Yun. “Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation. If home builders can continue to ramp up production, then home price growth is expected to moderate … (0 comments)
bozeman real estate: HUD-Owned Homes Predicted to Surge
- 05/01/13 01:33 AM
HUD—Who are They? In 1937, the U.S. Housing Act planted the seeds for the development of the Department of Housing and Urban Development in 1965. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable home for all.
The U.S. Department of Housing and Urban Development is reportedly releasing more of its homes to the market here shortly in order to counterbalance the slim inventory being seen across the country and the backlogged foreclosures/short sales. “The inventory is there, [it’s] just not being released during the banks/servicers review of the loan/mortgage documents,” says … (2 comments)
bozeman real estate: Bozeman Neighborhoods: Valley West—A Series
- 04/12/13 12:31 AM
We are a community, joined together by schools, jobs, our love of the outdoors and the sharing of the services and amenities our great town has to offer. However, we are separated in groups as we choose to live in subdivisions and neighborhoods. I frequently find myself in a similar conversation with people new to the area. From these conversations, I have found that the average buyer has several parameters they look at in choosing location. Generally, the factors are price, convenience, and individual amenities of a particular home and neighborhood. So, I thought it would be helpful to peer into … (0 comments)
bozeman real estate: Montana Ranch Sales: Land Value in Montana
- 04/02/13 07:45 AM
Companies from Bozeman to Billings have seen an uptick in investing in working ranches. Cattle prices are good and the prospect of the global world developing a stronger middle class only speaks of the demand for cattle to increase in the future. Grey Fay, a Bozeman-based real estate businessman, “sees the interest in ranch purchases as a play by American billionaires to add a tangible, low-return investment to their portfolios with the idea that land values have bottomed out and could appreciate considerably in the future.” (http://billingsgazette.com/news/state-and-regional/montana/ranch-sales-rise-as-wealthy-investors-put-cash-in-land/article_c0b70ee3-2e86-5a23-83f3-81e1eb281b5a.html Seeing the investment: In 1972, a ranch could sell for $36/acre. In 2011, that same land … (0 comments)
bozeman real estate: Springtime—A Blooming Housing Market
- 03/13/13 06:38 AM
Home inventory is reaching its lowest point since 1999. This is stabilizing home prices in many markets, and since buyer traffic is continuing to pick up, multiple offers and bidding wars are going to become the common state of things. Many sellers still remain underwater while buyers are ready to buy, causing the housing inventory to continuously shrink. Currently, there is a 4.2-month supply of existing homes for sale, down from January’s 4.5-month supply, according to data from NAR.
“Buyer traffic is continuing to pick up, while seller traffic is holding steady," Lawrence Yun, the National Association of REALTORS®’ chief economist says. … (3 comments)
bozeman real estate: Home Ownership: Is the American Dream More Within Reach
- 02/24/13 11:03 PM
"The most recent housing affordability data should be encouraging to many prospective home buyers, because it shows that home ownership remains within reach of median-income consumers even as most local markets appear to be on a recovery path," says NAHB Chairman Rick Judson.
Nearly 75% of homes sold between Oct 2012 and December 2012 were to families earning a median income of $65,000 at a median price of $188,000. "It is noteworthy that affordability remains historically high thanks to favorable mortgage rates even as national home price indexes show some rise in values," says NAHB Chief Economist David Crowe. The exterior limits of … (2 comments)
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