Without You, My clients, Customers and Friends I would have no success.
So I thank you all for a great 2015 and look forward to serving you in 2016
Enjoy ringing the new year !!
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homes for sale: Through the looking glass - Alice in the wonderland of Housing
- 08/23/15 11:55 PM
Through the looking glass - Alice in the wonderland of Housing What follow is an analysis of Yellowstone County and the housing market to see if we can discern where it might head over the next couple of years by understanding income and household growth to see if we are in “balance” or has there been more housing produced than what is needed by growth or has pricing outpaced income. Two things that are important to know 2006 was the year in which the greatest number of residential properties were sold in the mls and 2013 was the (I think) the bottom of … (3 comments)
homes for sale: INFLATION, INTEREST RATES AND HOUSING COST
- 10/30/14 11:04 PM
Since low inflation has been in the news lately, mainly in reference to increasing social security payments for 2014. An increase caused by inflation of 1.7% is due on the January 2015 checks. Thought it might be interesting to look at the interest rates and housing costs plotted against the consumer price index to see what has happened over the past few years. I choose to start at 2006; the reason is 2006 was the peak home sales in Yellowstone County. Since that year was peak activity it indicates at what price people were willing buy and the monthly … (0 comments)
homes for sale: Looking at the effects of the Frank-Dodd Bill on home sales
- 09/21/14 03:40 AM
Looking at the effects of the Frank-Dodd Bill creating the Consumer Finance Protection Bureau If you use Yellowstone county as an example of the effects of the reforms from “housing collapse” and the wild financing used in the white hot markets from around the country, Las Vegas, Phoenix, California, Miami and such. You can clearly see the unintended consequences of the reforms put in place and why the analogy of the pendulum swinging to far applies. The Market peak in activity in closed residential sales as measured in the Multiple Listing Service in Yellowstone County was the year 2006. Using … (0 comments)
homes for sale: Market Update at a Glance August 2014
- 09/16/14 12:36 AM
August 31st 30th 2014 “End of the Summer” First let’s look at closed transactions, August 2014 continued with fewer homes closed. Number of closed sales in Yellowstone County are 1424 August 2014 as compared to 1516 in August 2013, a 6% decline. Monthly year over year same story monthly year over year August 2013 199, August 2104 187. Residential pending unit sales are down -3% years over year. To compare; 2013 August pending unit sales were up 6% over August 2012. (2012 there were 350 pending sales; 2013 there were 372 pending sales, 2014 there are 359 pending sales). … (0 comments)
homes for sale: The market and price point performance
- 08/23/14 05:36 AM
The market and price point performance $200,000 and Above When you segment the market by price range you can more clearly see underlying trends that show up in the “average” performance numbers. Additionally, depending on the price point, there are definitely amenities that are required as you move up in the market. You can tell amenity requirements by the price per square foot pricing. I would caution, not to take the simplistic approach, of multiplying a home size by the price per square foot, since location, age and condition can affect the variability of that number: as an example the 500k … (1 comments)
homes for sale: Is renting cheaper than buying in Billings montana?
- 08/03/14 11:14 PM
Since there seems to be a lot of press about how it may be better to rent than buy a home, I thought I would compare current asking price for renting different types of homes Yellowstone county to the same basic description of the selling price of a home and the payment needed to own that home. The monthly home payment is figured at 100% financing with a FHA at 4.12% 30 year loan, using 26% for taxes and insurance . The asking price for rents comes from my weekly survey of rental availability. Through this weekend that would be over … (1 comments)
homes for sale: Market Update at a Glance May 2014
- 06/07/14 06:56 AM
“Winter of discontent and other Myths” Safely into late spring and the beginning of summer, worth one last time to ask how much winter effected the direction of the market. First let’s look at closed transactions, May 2014 continued with fewer homes closed. Number of closed sales in Yellowstone County are 716 as compared to 788 in 2013, a 9% decline, so in June sales would need to increase approximately 29% above June 2013 to reach the same midyear units closed and put 2014 on track to match 2013, an unlikely event, when May had close to perfect weather and … (0 comments)
homes for sale: Market Update at a Glance April 2014
- 05/08/14 04:12 AM
APRIL 30ST 2014 “APRIL SHOWERS, BRING MAY FLOWERS?” Now one third of the year completed no question about how much winter effected the direction of the market. First let’s look at closed transactions, April 2014 continued with fewer homes closed, number of closed sales in Yellowstone County are 519 as compared to 519 in 2013, a 12% decline, one percentage point less decline than in January, February and March, the market showing a little strength in the underlying sales. Single family permits: we see total single family permits for the first four months have a decrease of 29% for year … (1 comments)
With two months of the year completed, still questions about which indicators best discern the direction of the market. First let’s look at closed transactions, February 2014 continues with fewer homes closed, number of closed sales in Yellowstone County are 235 as compared to 269 in 2013, a 13% decline, the same percentage as in January, even with record cold and snow, the market did not fall further behind, so the question is, does this tea leaf show strength in the underlying market.
Single family permits: we see total single family … (1 comments)
homes for sale: Market update at glance January 2014
- 02/10/14 01:45 AM
January 31st 2014 “THE ANSWER OF THE YEAR?” We start 2014 with lots of questions about the direction of the market, with conflicting signals and yellow flashing warning lights. First let’s look at closed transactions, changed dynamics in 2013 continue in 2014 with fewer homes closed, number of sales in Yellowstone County are 112 as compared to 129 in 2013 , a 13% decline, only one month of small data, does not a trend make. Yet In single family permits we see total single family permits have a decrease of 26% for January year over year (2014 20 permits, 2013 … (0 comments)
One theme that I always carry with me about the real estate market or the economy in general is the qualifier to any analysis I do is “ unless our friends in Washington D.C. do something stupid all bets are off” we have now been through a period where I believe the comment applies in spades. So why are the actions or more appropriately inactions of our friends a concern here in paradise where we live? First when people get nervous or are unsure what is occurring they hesitate or hold back. In … (0 comments)
homes for sale: Have new financing rules affected the market
- 10/19/13 03:55 AM
You would assume if the price of something dropped that was desirable to purchase that sales of that product would increase. Then why in the housing market would number and percentage of the market drop in the lower price ranges if it cost about 18.5% less to buy today than it did in 2007?
Three Quarters of the year over, the residential market in Billings entering the last Quarter of the year, what behavior might we expect from the market place. Typically the market slows in the last quarter inventory normally shrinks and sales slow as we head into the holidays, usually the real noticeable shift comes in the second week of November just before thanks giving. In single family permits we see the second year over year monthly decrease (permits down 28% from September 2012, yet total single … (1 comments)
homes for sale: Market update at glance august 2013
- 09/10/13 12:03 AM
Market update at glance August 31st 2013 Trends are they my friend? Two thirds of the year over, the residential market in Billings entering the last third of the year, what behavior might we expect from the market place. In single family permits we see the first year over year monthly decrease (permits down 21% from august 2012, yet total single family permits still up 33% for the year. The increase in residential unit sales is up 10% year over year, the decrease in market time is 21% year over year, the absorption rate shows an decrease of 2% year over … (0 comments)
Source: These data are produced by the U.S. Commerce Department's Census Bureau from a survey sponsored by the U.S. Department of Housing and Urban Development.
THEY MUST NOT BE BUYING NEW HOMES SINCE THE RATE OF NEW HOMES SALES HAS DROPPED 50% SINCE 2000. INTERESTING THOUGHT TO PONDER
<!--[if gte vml 1]><v:shape id="Picture_x0020_2" o:spid="_x0000_i1026" type="#_x0000_t75" alt="" style='width:717pt;height:311.5pt'> <v:imagedata src="file:///C:\Users\SUMNER~1\AppData\Local\Temp\msohtmlclip1\01\clip_image003.png" o:href="cid:image007.png@01CEAD35.B90E30F0"/> </v:shape><![endif]--><!--[if !vml]--><!--[endif]--> AND THE POPULATION HAS INCREASED BY APPROXIMATELY 36,000,000 MILLION PEOPLE OR … (2 comments)
homes for sale: Housing brain teaser
- 08/23/13 02:43 AM
ONE WOULD THINK THAT AS YOU INCREASED THE POPULATION AND EMPLOYMENT IN AREA, DEMAND FOR HOUSING SHOULD INCREASE, THE OTHER THOUGHT THAT COMES TO MIND IF YOU MADE HOUSING LESS EXPENSIVE TO PURCHASE IN RELATION TO INCOME, MORE BUYERS WOULD BE IN THE MARKET PLACE SO THE THOUGHT TO PONDER………………….. ARE THE ABOVE TWO THOUGHTS WRONG OR IS THERE SOMETHING ELSE GOING ON IN THE HOUSING MARKET?
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homes for sale: New construction Nationaly
- 08/18/13 02:13 AM
A broken record maybe, yet when I look at new construction nationally, I ask myself if I had lost 44 to 32% of my ability to walk from an accident, would I consider myself recovered, that’s how much construction is off from the 50 year average. I would venture not a stellar performance, this is most probably driven by the fact, in the prime home buying segment 25 to 54 year olds, nationally their employment is still 6 million fewer working than when we began this economic event.
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homes for sale: Market update at glance thru july 31st 2013
- 08/07/13 08:27 AM
Cycle, cycle, cycle The Second half of the year has begun and the residential market in Billings enters its normal second half of the year behaviour. While we see year over year increases we see month to month decreases. The increase in in unit sales is up 10% year over year while the month over month saw a 6.5% decline, the decrease in market time is 22% year over year, the absorption rate shows an increase of 4% y o y and an increase of 4% month over month, the increase in pending sales is a positive 9% y o y … (0 comments)
homes for sale: Judging the market over time
- 07/30/13 07:33 AM
Real-estate values are influenced by several factors, income growth population growth employment growth and interest rate. When looking at Yellowstone County and the current price movements and whether the appreciation is solid or sordid, looking at the underlying factors might lead to a conclusion First is income #1 since 2001 the median family is 34.67% higher Yellowstone County is 51.44% higher
Second is employment #1 since 2001 the Number employed is 18.74% higher
Third is Population #1 since 2001 the population is 18.01% higher, which translates into a need for a total of 9,909 … (0 comments)
Want to wish all of you a Happy and prosperous new year in 2016!!
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