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Billings, MT Real Estate News

By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
 I was doing some research this morning on the federal reserve sight. It gave me some thoughts on how to solve the housing problem with real numbers without a a lot of extraneous effort. The math is below. If a check of $24,000 is sent to every mortgage holder, does not solve the individual problem at least they can go rent a place. It always amazes me how we want complicate the problem. If high cost areas are a problem you could easily allocate the money by the volume of the debt and really make sure the problem was solved but it seems we prefer a more complicated way to employee more government workers  and create more dependency on the government. I do realize that the issues is the securitization of the loans and not just housing itself. There was another federal reserve study just ...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
Your REALTOR: Howard Sumner Howard Sumner April 2009 Your Real Estate Source, Your Results Solution Copyright © 2009 Realty TimesAll Rights Reserved. Five Ways to Wow Buyers   These days, tax credits and high housing inventory make it a buyers' market. If you're a seller, don't despair. There are a variety of renovations that can help make your home stand out. Many buyers look at numerous homes when shopping for a house; so enhancing your home to make it more memorable is vital and increases the chances of a successful sale.       Clearing clutter, taking down personal photos, applying a fresh coat of paint, making minor repairs, and keeping a pleasant aroma are all basic techniques to make your home more appealing. But there are a few other Mortgage Rates U.S. averages as of March 26,...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
Investing in Residential Rental   Should I are shouldn't I invest in rental property at this time? Great question as always yet very relevant in today's market when trying to choose where a reasonable place to invest your money. The choices are always the same cd's, stock market, precious metals or real estate.  So how does real estate stack up? Since 1968 in Yellowstone county residential real estate has appreciated at 6% rate going from $17,933 to $196,847 today. The DOW has appreciated at 5.85% going from 855 to 8083 today. Gold has appreciated at 7.9% going from $39.31 to $833 today. Each invest has it own pro and cons the question is which is the best primary investment for your security. Gold, while a store of value, has several issues, no income produced, how do you store it secu...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
the question of timing of a purchase of home, in economically turbulent times. would perplex most rational thinking person. the short answer i would give it depends. the largest factor i would suggest the a buyer whether a first time or an move buyer ask them "is how long do i plan to stay in the home i purchase?" i believe this is the critical component of comparing the "rent vs buy" dilemma. the short answer in most markets in the past would be a minimum ownership of 24 months. the prudent answer with today's environment would suggest a longer view of ownership ranging more in the 36 to 60 month range to receive the befits of ownership versus the cost of buying and selling when compared to the lost opportunity of ownership and renting. below is a graph showing the monthly principal an...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
I've had a few Montana Dreamin' folks call me lately looking for a price slashed vacant lot, and I'm sorry, we just haven't seen that yet! In fact, we may escape this syndrome! We have a lot of Lots (that's a mouthful isn't it?) for sale, but the developer/capital holder is in this game for the long haul, and they should be!  We continue to be a growth area, not rapid growth but more of a steady 2% hill climb.  You can review statistics and predictions from a number of economists, and they basically say the same thing, we are steady as she goes! Small acreage properties within 30 minute commutes to Billings are decreasing in numbers for anything over 3 acres, but there are many 1 acre properties to choose from.  Anything between Billings and Laurel may already be out of reach for the av...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
   Historical price trends
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
   Historical price trends
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Bill Bartmann says, so, you want to take your business to the next level and start to offer more products or even a whole new product line to your customers. This is a brilliant idea. One reason this is wise is that once you have won over a customer, they will be back, time and time again, to buy from you. If you have more to offer, chances are they will spend more with you.   With this said, you still have to be somewhat careful in how you make the purchases of those new products to offer. Here are some tips to making sure you take the right steps to complete the process.    Bill Bartmann Knows What he Wants    Bill Bartmann's tip #1 is that you must know what your customers want. You don't want to expand to a product line they are not interested in and be stuck with a lot of inventory...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Breathe in breathe out!  That's basically what we need to do right?  Yoga is in Montana and it's here to stay!  I try to make it to Yoga twice a week so I can be stretched and bent in directions that I would normally not try.  I am pretty amazed that since I have become more regular at yoga, my back no longer hurts and my shoulder that had tightened up after a surgery 8 years ago, moves in all directions.   The group experience is what is the most fun for me.  I am not a typical yoga body type, so being in a group that is warm and accepting is very comforting.  People tend to help each other as well. The Yoga Spot is located at 2409 2nd Avenue North, Billings Montana.  The phone number for questions:  406-867-Yoga (9642).  Follow the link below for schedules, prices and contact info. Wa...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
MARKET UP DATE AT GLANCE THRU FEBRUARY 2009   FEBRUARY saw a significant increase in buyers in the market. THOSE buyers coming into the market (APPARENTLY first time buyers) were responding to their best self INTEREST historically low rates  and  the first time buyer tax credit, which is refundable on your 2008 taxes if you close before you file. the most active SEGMENT of the market was between 160k to 180k, that price range saw it's share of the market place jump from 13% by unit volume in 2008 to 17% by unit VOLUME in 2009. thus the comments above. the question that will unfold over the next couple of months is, did buyers that would have been in the market later in the year purchase earlier, due to the tax credit. IF that proves to be the case we will see a SOFTENING of the pending ...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Roads like the ones we were driving on this morning make me cringe!  Even though most people were driving very slow and with great caution, accidents still happen!  There was some poor person who toppled over a light pole by the Metra (can't say Rimrock Auto Whatever yet).  When we have this type of weather we then start a slippery road policy which means, don't call the cops unless you can't move your car or there is an injury. On days like these, even though I think my car does not need replaced, I can see the dollar signs slipping on down the road and crashing.  Sounds like repair and shopping to me. The auto industry in Billings Montana could probably use a little stimulus, I just hope no one gets hurt!
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
I know what you thought, and you are partly correct, but BS stands for Blarney Stone in this case!  I'm not sure if I developed the gift of gab prior to kissing this blessed stone or if kissing the stone some how justifies my going on and on and on!  I'm also really good at recognizing BS!  I can look a person in the eye and tell right away if there are fairies dancing inside or not!  This is a very helpful tool to use in Real Estate, let me tell you.   I did live in Londonderry Northern Ireland for a couple of years, during "the troubles".  Went to an all girls private protestant school, Londonderry High School.  Brown shoes outside, black shoes inside, uniform and the whole shibang.  I didn't think wearing a uniform was bad at all, never had to think up what to wear the next day!
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
In a perfect world, if I wanted to move to a new home, I would Find one Make an offer that is accepted Put my home on the market Sell my home in the first week Close on the home I am selling and the home I am buying on the same day Move from my old home to my new home over the long weekend Wa La, what could be easier? Well, it could work like that!  And I have participated in a number of these types of closings.  But this situation takes a lot of care, diligence and crossed fingers.  Here are some helpful tips on how to make a transaction like this work, and work well: First get pre-approved for a mortgage for the home price you plan to spend on the new home.  Use your local lender either from your Bank or Mortgage Broker and find out what types of loans are available for your particula...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Just heard another horror story of a refrigerator water connection that sprung a leak and flooded most of a home when the owners were away for a couple of days.  When I hear this I conjure up the image of water leaking from a main level fridge, down through a heat vent and onto a big office computer desk, with the computer on the desk. No wonder a lot of builders will not hook these babies up around here.  The appliance delivery people, who are not paid gobs of money, follow the procedure they are given and connect these water lines for the property owners.  The responsibility is huge!  The connections for the water pipe/tubing can fail as well as the tubing itself (often when the homeowner pushes the fridge back against a wall and runs over the tubing). Is there a cure for this problem...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Situation:  Home still on the market 90 days after listed. "Well I guess if my home sold too quickly, I'd know we didn't ask enough" Interesting conclusion!  I must ask you seller, why do you think that way? I think we all try to rationalize our shortfalls, it's only natural.  Realtors are trying to explain why homes don't sell all the time.  On the other hand, don't worry you didn't ask enough for your home if it sells in the first week?  It's all about expectations of perceived value, verses real value in the current market. It's all about price; asking price, offer price, closing price.  What's person to do? If a seller wants to move, then the home they want to sell needs to be tested in the current market. What constitutes a test! Develop a starting point based on what's sold and/or...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Just imagine the WIDE variety of opinions on what a fixer upper home for sale is!  And why would you advertise this way? It's always about $$$  Your ad is telling a buyer right up front that this home's condition is not top notch, so if your a fixer, come on over!  Let's make a deal! How about a few examples of what needs to be fixed: Needs new roof Old inefficient windows and doors Outdated and inefficient electrical systems Plumbing that either doesn't work or is missing Paint that needs done Flooring that needs to be replaced Cabinets and countertops that need a good fixin or replaced Subfloor that's soggy Sinking or crumbling foundations Siding that needs replaced or painted Negative drainage   A fixer upper home in Billings Montana usually means that the home is priced for the mark...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
I have a little routine, and I like it! #1  Check my schedule for the day, gather my supplies to make the day go better, make sure I have my yoga clothes and then off to my next office. #2  City Brew in the Billings Heights.  Don't laugh, they have wireless and they make my special soy latte with a sprinkle of cocoa powder on it, in a glass with two straws, when they see me driving down the hill!!!  Is that service or what. Four of last years deals were from like minded people (coffee drinkers) that I ran into at my morning office.  I frequently meet people there for some "hi, what's happenin sessions".  There fore I am using my City Brew Coffee expense as a deduction (only 50%).  Call it marketing, call it meals I don't care, but I like it. Here is my City Brew Office Manager and her d...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
Oh That Nose!  We all have one, and most of them work really well. Have you ever noticed that some folks with animals have no clue that their home smells bad?  I think it's just an adjustment we make when we live with animals and other odorous things in our homes. I can remember that when I was young and smoked (I've been over this for 25 years) I never noticed that I smelled smokey.  Now when I walk into a home where people smoke, I can't think of anything else besides the smell.  Ask if there is a smell in your home.  Lots of people won't want to offend you, so ask them to be honest. The sense of smell is a huge trigger to our We like it!  We don't like it!  part of our brain.  We can't get past the smell and look at all of the other features no matter how good they are.  What does th...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
One of the biggest, most gut wrenching parts of a home sale experience has got to be the inspection contingency.  Most home buyers want to and should hire their own home inspection, but sellers should have one before they list the home as well, and here's why: You reduce the stress of loosing a really good buyer who was in love with your home until something caught them off-gaurd on the home inspection, and they changed their minds.  This hurts you 10 fold when you put your home back on the market as "the deal that fell through due to a home inspection".  This is a RED FLAG EVENT You can fix any problems that are found with the home before it's listed and then disclose what you found and how you fixed it.  People love to see a property disclosure that includes things that have been foun...
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By Wanda Thomas, Billings Montana Real Estate
(Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN)
When you have a pancake deal, two homes and three parties involved, how do you handle occupancy? I always try to get everyone on the same page and plan a weekend type move with the first part of this domino moving out first by closing day.  I always get a headache moving the one in the middle.  The party bringing the money that starts this whole deal usually wants in right after they sign the papers.  I have heard that it is customary to give the seller extra days to move out after signing at closing in order to move in some areas.  We have the middle person in a uhaul at the Title Company signing papers. We have various methods of getting this done in Billings Montana, what do you do?  
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