montana blog real estate: absorption of inventory - how long? - 06/20/16 03:00 AM
Time it will take for Inventory to be “sold” or absorbed in the market
One question I get asked is how the market is doing. There are many ways to answer the question, yet I believe one the best is looking at absorption of the inventory by the market and the relation of pending sales to the active inventory.
So first let’s look inventory and the rate at current levels of sales how long the market will take to absorb or “buy the inventory”.
As of this morning June 20th 2016 there are 550 “homes” on the market (the first column). I … (0 comments)

montana blog real estate: Market update at glance May 2016 - 06/18/16 03:26 AM
Market update full report
 
 
Market update at glance
May 31th 2016
“HOW’S THE TRAFFIC” (Again)
Thought I would use an analogy to try and capture the market this month.
Imagine we are going on trip so volume of traffic and  speed limit becomes important to us.
So to indicate the speed limit on or imaginary road I would us the percentage of pending to actives. As of the end of May the “speed limit”  was  71% meaning that if there were a 1,000 active properties we expect 710 pending sales (in 2015 the “speed limit” was 75% ). The next issue on road trip is how much … (1 comments)

montana blog real estate: New Home Sales Nationally - 06/06/16 01:36 AM
Was just looking at the median price of new homes in the united states, in April of 2006 the median price was $257,000 Freddie mac commitment for a 30 year loan was 6.51% making a 100% financed home with 26% for taxes and insurance cost of $2048.89 per month.
Move forward to 2016 April
the median price was $321,100 Freddie mac commitment for a 30 year loan was 3.60% making a 100% financed home with 26% for taxes and insurance cost of $1839.41 per month or an ownership cost 10.22% below 2006.
Through the end of April 2006 in the united states … (2 comments)

montana blog real estate: 516 lewis Billings mt - 04/29/16 02:57 AM
super clean , great central location, redone hard wood floors, new appliances in the kitchen, bath redone
no work required to move into this one
 
 
http://www.propertypanorama.com/instaview-elite/bmt/262098
(1 comments)

montana blog real estate: market update at glance March 2016 - 04/16/16 05:12 AM
Market update full Article
 
 
MARCH 31st 2016
 “FIGURES NEVER LIE, YET LIARS FIGURE. WHERE’S THE MARKET 2016”
March’s market update starts with “SO WHAT’S THE REAL DIRECTION OF THE MARKET”.
One thing I have learned about watching the market and helping clients and customers make good decisions about real estate buying and selling: first and foremost put together the most accurate and representative information I can find. Having do this for 30 plus years I know if I want no matter how the market is performing I can slant the information either in a positive or negative light. As an example one measurement of the … (0 comments)

montana blog real estate: Market update February 2016 yellowstone county montana - 03/16/16 02:09 AM
 
Read full article here
 
FEBRUARY 29Th 2016
 “READY SET, WHOA OR GO!!, LOOKING AT 2016”
February’s market update starts with “Let’s think different and ask different questions”.
I believe it has been awhile since I addressed the issue of what I try to achieve with the information I collect and distribute.  The first issue is to understand that essentially all the “numbers” I put together, in reality, are indexes of activity in the market place. Why may you ask is that important, while it is true I strive to create an accurate representation, in the end though, it is still a partial representation of the … (2 comments)

montana blog real estate: Happy New Year in 2016 - 12/31/15 02:24 AM
Want to wish all of you a Happy and prosperous new year in 2016!!
 
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 !! 
 
(0 comments)

montana blog real estate: market update November 2015 - 12/15/15 03:41 AM
 NOVEMBER 30th 2015
 “HAVE A GREAT HOLIDAY AND MERRY CHRISTMAS”
November’s market update starts with “THANK ALL OF YOU FOR YOUR SUPPORT AND BUSINESS”.
The end of NOVEMBER 2015 numbers, closed sales up +5%, pending sales up +27 %, inventory down    -1%, and interest rates down -3% from the year earlier. The interest rate trend of year over year declines will end this next month (November) would be my prediction (I WAS WRONG IN OCTOBER).
As of the end of the week of December 11th the rig count in North Dakota is down -121 rigs since last year, 58 working in 2015 and 179 working … (1 comments)

montana blog real estate: MARKET UPDATE AT GLANCE OCTOBER 2015 YELLOWSTONE COUNTY MONTANA - 11/11/15 05:07 AM
TO READ AT MY WEB SITE
http://www.realestatemontana.com/blog/Market-update-at-glance-OCTOBER-2015
 
Market update at glance
October 30th 2015
“10 months down, 2 months to go”
October’s market update starts with “oh my god where has the year gone”.
The end of October 2015 numbers, closed sales up +6%, pending sales up +14 %, inventory down -6%, and interest rates down -6% from the year earlier. The interest rate trend of year over year declines will end this next month (November) would be my prediction.
As of the end of the week of November 6th the rig count in North Dakota is down -118 rigs since last year, 63 working in 2015 … (1 comments)

montana blog real estate: Market update at glance September 2015 - 10/20/15 01:26 AM
Market update at glance
September 30th 2015
“History and Fall, a couple favorites of mine”
September’s market update starts with discussion Historical perspective. Those that have read these report for a while know that the high point in activity for residential sales was 2006, in that year there was 2043 “home sales” in Yellowstone county, there was 551 single family living units (single family plus duplex) created by permits taken out in the city of Billings. Average sales price was $191,850; 30 year fixed rate was 6.41%, making the PITI payment $1,531 dollars per month. Fast forward to this year 2015 residential sales … (1 comments)

montana blog real estate: market update at glance august 2015 - 09/14/15 08:46 AM
August 31ST 2015
 “END OF SUMMER BEGINNING OF SCHOOL”
What has the summer taught about the market?  
Just really going to let the numbers and charts speak for themselves this month. if you have any question please call or email
 







 
Add Comment … (0 comments)

montana blog real estate: market update at a glance april 2015 - 05/09/15 02:55 AM
http://www.realestatemontana.com/blog/Market-update-at-glance-april-2015

April 30th 2015

 “Spring has sprung and the sprung has the market Jumping”

April’s market update starts with a saying I believe most would be familiar, about flowers coming to bloom as sign of renewal and growth.  Actually though April is a continuation of “March Madness”  activity since weather warmed and interest rates dropped in 2015 Market.  At the end of April 2015, closed sales up +12%, pending sales up +10 %, inventory down    -10%, and interest rates down-15% from the year earlier.

As of the end of the week of May 1st the rig count in North Dakota … (2 comments)

montana blog real estate: market update at glance march 2015 - 04/11/15 01:11 AM
 
 
 
March 31th 2015
 
 “Oh what difference weather and interest rate makes, within the market place”
 
I think I will start March’s market update with an analogy to the college basketball events that occur every year and that is “March Madness” only we do not end up with a final four. I do think “March Madness” best describes the activity since weather warmed and interest rates dropped in 2015 Market.  At the end of March 2015, closed sales up +5%, pending sales up +33 %, inventory down    -11%, and interest rates down-13% from the year earlier.
 
As of the end of the week of … (0 comments)

montana blog real estate: Market Update At a Glance December end of year 2014 - 01/17/15 06:26 AM
Market update
 
 
 “Looking back, Looking forward”
 
In the immortal words attributed to Yogi Berra "It's Hard to Make Predictions, Especially about the Future". I think that best describes 2015 Market.  At the end of the 1st half  2014, closed sales down -6%, pending sales down -12%, inventory up 6%, and interest rates up 2% from the year earlier. At that point I would have let you bet a dollar and I would have matched with $50 about 2014 catching or surpassing 2013, you would have taken my $50. As I have said, probably should not bet against the … (0 comments)

 
Howard Sumner, Your Real Estate Source, Your Results Solution!! (Howard Sumner Consulting)

Howard Sumner

Your Real Estate Source, Your Results Solution!!

Billings, MT

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Howard Sumner Consulting

Address: 404 north 31st street, suite 130, billings, mt, 59101

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