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Billings, MT Real Estate News

By Dale Dresel, Professional Realtor Maricopa, Gilbert & Goodyear
(HomeSmart Success, Maricopa, Gilbert & Goodyear AZ)
Maricopa Lowest Priced Detached Home for Sale in Province $172,000    42423 W FALLING STAR DR 2 Beds/2 Baths1516 SqFt of living spaceMLS# 5212235       A Must-see Home!  Don't miss out on this!         Province is a 24 Hour Guard-Gated Community  with Activity Center, Pools, Tennis, Fitness Center - all included in HOA. Community Amenities: Adult Community - 5 Miles of walking trails - Beautiful Work-out Facilities - Lifestyle! PROVINCE is one great community!  And is worth taking a tour.   Enjoy watching Province Virtual Tour of amenities below:       To Get a FREE and complete list of beautiful Homes for Sale in Maricopa AZ,  visit my website, www.FindMaricopaHomes.com    Thank you for reading this page about  Maricopa Lowest Priced Detached Home for Sale in Province Let me help you f...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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 people with control over the money printing press.  So the Million dollar question for 2015 “Will the decline in energy costs and interest rates offset any possible decline in business and jobs dues to the decrease in energy/oil costs?”   Firs...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
  November 30th 2014    “Eleven Months Down, one to go”   In the immortal words of the Grateful Dead “what a long strange trip it has been”. I think that best describes 2014 Market. At the end of the 1st quarter 2014, closed sales down -13%, pending sales -1%, inventory up 4%, and interest rates up 22% 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 said last month, probably should not bet against the people with control over the money printing press.   First let’s look at closed transactions, Number of closed sales in Yellowstone County are 2026 November 2014 as compared to 2051 in November 2013, a 1% decline. Monthly year over year different story monthly ...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
Market update at glance October 31st 2014  “Don’t bet against the Fed’s Printing Money” A comment about the title, since 2008 the Federal Reserve has accumulated approximately 1.7 trillion dollars in Mortgage back securities. This October they indicated any principal received would be reinvested into the mortgage market, so the Fed’s oversized influence on the mortgage market will stay until they decide to reduce the size of the holdings, which is approximately 17% of all mortgage back securities, the main source of mortgage money. First let’s look at closed transactions, October 2014 continued with fewer homes closed. Number of closed sales in Yellowstone County are 1865 October 2014 as compared to 1897 in October 2013, a 2% decline. Monthly year over year different story monthly year ...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
The Eternal Questions of Real Estate #1 How much is my home worth? #2 Should I refinance? #3 Is now a good time buy? #4 Will it pay me to do this _ _ _ _ _ Remodel Project? My standard answers are it depends. What follows is both factual information and guidance to try and sort through the proper answers for the questions. I have prepared some graphs to show how the market and payments have changed since 2006. I choose 2006 since it was the peak in the number of homes sold in Yellowstone County. #1 How much is my home worth? If I have learned anything in the 32 years, this tends to be the number one question I am asked. People always want a “ball park” of what I think.  If someone wants to know value there is a process to go through to determine the most probable market response. Notice...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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 payments incurred to purchase at that time. This first graph is showing the consumer price index plotted against the Freddie Mac 30 year interest rate commitment. The first anomaly that jumps out, a declining interest rate with and increas...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
  “Oh what a difference interest rate makes”   First let’s look at closed transactions, September 2014 continued with fewer homes closed. Number of closed sales in Yellowstone County are 1636 September 2014 as compared to 1700 in September 2013, a 4% decline. Monthly year over year different story monthly year over year September 2013 150, September 2104 172 a 14.66% increase.   Residential pending unit sales are up 16% years over year.  To compare; 2013 September pending unit sales were down-2% over September 2012, interest rates increased in august of 2013. (2012 there were 302 pending sales; 2013 there were 296 pending sales, 2014 there are 344 pending sales). With the pending sales in the pipe line it now appears probable 2014 closed sales will match 2013 or slightly exceed, not the...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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 that as a base of measurement than coming forward to 2014 and comparing the economic activity in housing market,  against measures of employment (up 5.43%), population (up 14.43%), income (up 30....
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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).    The residential active properties  for sale inventory in August 2014 is up 6% year over year, as a comparison, in August 2013 unit inventory was up 4% over 2012 (comparing 2012 to 2014 inventory is up 10.5%, 2012 the...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
In the world today with the perspective of the past five years and the “housing collapse” many have written that owning a home is less desirable the Renting. As in all things about housing, “national” trends may not be as applicable to any individual Market. We that live in Yellowstone are fortunate to have a stable and growing economy where most every segment has experienced some growth over since 2009.  A few “facts” about Yellowstone County in July of 2014 the employment report indicates 82,419 persons employed in 2009 shows 77,985, an increase of 4,434. In July of 2019 the Freddie mac interest rate on a 30 year fixed rate loan was 5.22% July of 2014 the rate was 4.13% a decrease of 20.88%. Moving on to the cost renting the “average” apartment rent for $686 per month in July 2014 $71...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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 plus sold price per square foot ranges from $88 to $378 (over all in this review range from $50 to $378 sold price per square foot), so if you use the average in the absorption chart, basically $1...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
JULY 31ST 2014 “SECOND HALF IS WHERE THE GAME IS WON?” Two Months of summer gone, second half of the year beginning, so which way will be the direction of the market. First let’s look at closed transactions, July 2014 essentially matched last year in homes closed, 188 closed in 2013, 187 reported so far in July 2014. Number of closed sales in Yellowstone County are 1194 through July  as compared to 1268 in 2013, a 6% decline, so the market is creeping on matching 2013, one factor that stumped us all, is interest rate, the 10 year treasury, is actually lower than last year. I would have bet that we would be in the 5% range not the 4.125%, that why when trying to peer into the future it can be interesting to look back and see what you thought.  Based on the interest rates, staying at this...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
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 2200 individual ads for renting a house and  for sales it amounts to over a 1000 closed Homes for 2014. The principal interest taxes and insurance payment for owning are in red, rents are in the blue.     So the question to ponder  “Are you better off in Ye...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
Market update at glance June 30th 2014 “Questions to ponder about the market” The first half of 2014 is past, now is the time to ask questions about the direction of the market and comparisons to gain and illuminate knowledge that might be found. So instead of my usually format, questions will be both the information and thoughts of where the market might be. All the question comparisons are from January 1st to June 30th, 2014 to 2013 - 2013 to 2012. #1 Why are closed sales down year over year in 2014 by -6%, when they were up +9% year over year in 2013? #2 Why are pending sales down year over year in 2014 by -12%, when they were up +24% year over year in 2013? #3 Why are active listings up year over year in 2014 by +20%, when they were down -7% year over year in 2013? #4 Why are total ...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
Just to cover all the bases, I have expanded this report to include existing home sales and mobile home placements. Globally it now covers the entire housing segment. Permits include both mutli family and single family permits. So let’s look at the playing field to see how we are doing  9 ½  years on since the last peak. As a an additional side note the mortgage brokers association reported in May, year over year new purchase application index down 15% and the refinance index is down 73% year over year.   Hmmmmmmmmmm I wonder if that means anything         actual total for year permit issued start of construction Existing Manufactured     multi single   multi single single sales   Sales Placements 2014: Year to Date 408.6 251.8   396.0 255.6 194   472000 16 2013: Year to Date 392.2 255....
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By Jeff Wilson
(J L Wilson & Associates Realty)
    What Is My home worth in Billings MT?   What is my home worth in Billings MT? Simple question, hard answer. I get this question all the time and the answer is not always easy. There are all kinds of issues that determine what your house is worth including size, location, number of bathrooms, number of bedrooms, decks, patios, fireplaces, garages, landscaping, renovations, yard size, upgrades, finishes, year built, current sales just to name a few. My neighbors house sold for $300,000- Was this the listed price or the sales price. In Montana sales prices are not available. Only a member of a local MLS has access to that information. So even though you know what the listed price was you have no idea what the final sales price was and even if your neighbor was your best friend they mig...
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By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
  “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 a decreasing interest rate environment and in May, unit sales were still approximately 9% less than in May of 2013. Single family permits: we see total single family permits for the first five months  have a decrease  33% for year ...
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By Jeff Wilson
(J L Wilson & Associates Realty)
  Homes for Sale in Riverfront Pointe Subdivision Billings MT   Why Do People Live here?   Riverfront Pointe is a newer neighborhood of single family homes and townhouses that is located on the South end of Billings just minutes from westend shopping and restaurants.  All the homes have been built with the last few years. This is an affordable neighborhood that can get you into a new construction home without breaking the bank       Looking for a home in Riverfront Pointe Subdivision Billings MT?   Interested in finding homes for sale in the Riverfront PointeSubdivision of Billings MT? Click the link to find all the currently available homes in this area of Billings. Want to know what your house is worth in Riverfront Pointe. Just fill out this Simple Form   What are the houses like?   ...
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By Jeff Wilson
(J L Wilson & Associates Realty)
    What Is My House Worth In Billings MT   What is my house worth in Billings MT? Simple question, hard answer. I get this question all the time and the answer is not always easy. There are all kinds of issues that determine what your house is worth including size, location, number of bathrooms, number of bedrooms, decks, patios, fireplaces, garages, landscaping, renovations, yard size, upgrades, finishes, year built, current sales just to name a few. My neighbors house sold for $300,000- Was this the listed price or the sales price. In Montana sales prices are not available. Only a member of a local MLS has access to that information. So even though you know what the listed price was you have no idea what the final sales price was and even if your neighbor was your best friend they mi...
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By Jeff Wilson
(J L Wilson & Associates Realty)
  Homes for Sale in Josephine Crossing Subdivision Billings MT Why Do People Live here? Josephine Crossing is one of the most unique subdivisions in Billings. All the homes are built by a single builder and are designed in either the Craftsman or Victorian style of architecture. Garages are all built for rear access so that the aesthetics of the house are kept in tact. Yards are small in scale but there are many open areas, playground and even an event stage for summer concerts. The subdivision is located in the southern part of town and just a short distance to all the restaurants, malls and other shopping areas. Looking for a home in Josephine Crossing Subdivision Billings MT? Interested in finding homes for sale in the Josephine Crossing Subdivision of Billings MT? Click the link to ...
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