Billings Montana Real Estate Blog by Howard Sumnerhttp://realestatemontana.com/blog/Howard Sumnerrealestatemontana.com/RPS Blog2008-06-14T09:11:07ZMARKET UP DATE THRU JUNE 14TH 2008http://realestatemontana.com/blog_post.asp?post=146122008-06-14T09:11:00Z2008-06-14T14:11:00-05:002008-06-14T09:11:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">MARKET UP DATE AT GLANCE JANUARY 1ST 2008 THRU JUNE 14TH 2008
WITH THE NUMBERS BELOW YOU WILL GET A SENSE OF HOW THE YELLOWSTONE COUNTY RESIDENTIAL REAL ESTATE MARKET IS PERFORMING SO FAR THIS YEAR. MY FIST COMMENT PERTAINS TO THE DROP IN THE NUMBER OF CLOSED TRANSACTION AND PENDING SALES. THE RESIDENTIAL MARKET IS FEELING THE EFFECTS OF THE CONTINUED TIGHTENING OF THE CREDIT STANDARDS TO OBTAIN A HOME MORTGAGE. THERE HAS BEEN A SUBSTANTIAL DROP IN THE NUMBER AND TYPE OF LOANS AVAILABLE TO THE CONSUMER. THE INFAMOUS “LIAR LOANS” STATED INCOME AND ASSETS WITH NO VERIFICATION ARE, OF COURSE, LONG GONE. YET MORE IMPORTANTLY TO THE YELLOWSTONE COUNTY REAL ESTATE MARKET DOWNPAYMNETS AND CREDIT SCORES HAVE BEEN RAISED THROUGH OUT THE COUNTRY, HAVING AN IMPACT ON OUR LOCAL MARKET. MY ESTIMATION IS SOMEWHERE BETWEEN 50% TO 70% OF THE DROP IN SALES IS ATTRIBUTABLE TO THE LENDING ENVIRONMENT. THAT BEING SAID WITH GOOD CREDIT AND REASONABLE FUNDS AVAILABLE THERE IS PLENTY OF ..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=14612">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/14612.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=14612#comment0http://realestatemontana.com/blog/commentRss/14612.aspxhttp://realestatemontana.com/blog/services/trackbacks/14612.aspxMARKET UPDATE AT A GLANCE MAY 16TH 2008http://realestatemontana.com/blog_post.asp?post=140822008-05-19T07:52:00Z2008-05-19T12:52:00-05:002008-05-19T07:52:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">
Visit us online at www.realestatemontana.com
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Howard,
Here's how the residential market is performing so this year. My best description would be "surges" by that I mean purchasers seem to be coming into the market in bunches then a pause. The closed sales are holding steady at about 13% decline from a year ago same time period compared, which has been true since febuary. I would attribute at least half that decline on stricter undewritting reqirements insituted by the secondary market for loans. Overall I would say the majority of purchasers are buying "shelter" as seen by the decrease in the size of purchased as compared to last year. The pricing continues in a positive direction, yet condition and location determine that trend, more so than in recent years.
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=14082">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/14082.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=14082#comment0http://realestatemontana.com/blog/commentRss/14082.aspxhttp://realestatemontana.com/blog/services/trackbacks/14082.aspxCome See The Difference!!http://realestatemontana.com/blog_post.asp?post=101762008-05-04T09:55:00Z2008-05-04T14:55:00-05:002008-05-04T09:55:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">Brand new subdivision, minutes from Billings, wonderful country atmosphere with plenty of Big Sky in the Big Sky Country, underground utilities including: natural gas, electricty, cable, telephone, paved streets, no through traffic AND the building sites are 1+ acres! See a plat map and other information at our website: http://www.pioneerroadestates.com .. you won't be disappoined. Build your dream home here! Builders welcome!
<img src ="http://realestatemontana.com/blog/aggbug/10176.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=10176#comment0http://realestatemontana.com/blog/commentRss/10176.aspxhttp://realestatemontana.com/blog/services/trackbacks/10176.aspxBillings area real estate statistics as of April 28, 2008http://realestatemontana.com/blog_post.asp?post=101362008-05-01T14:41:00Z2008-05-01T19:41:00-05:002008-05-01T14:41:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">
Market update at glance
4/27/2008
Year
Percentage Increase or -Decrease
Yellowstone County
2007
2008
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=10136">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/10136.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=10136#comment0http://realestatemontana.com/blog/commentRss/10136.aspxhttp://realestatemontana.com/blog/services/trackbacks/10136.aspxUnique property for salehttp://realestatemontana.com/blog_post.asp?post=100262008-04-26T14:59:00Z2008-04-26T19:59:00-05:002008-04-26T14:59:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">This one-of-a-kind building site is located right in the heart of Billings. Secluded and hidden from view on a dead-end street.
16,608 square feet and zoned R-7000 suitable for a home and a duplex, it is a great opportunity.
Located South off Lewis Avenue at 13th Street West.
<img src ="http://realestatemontana.com/blog/aggbug/10026.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=10026#comment0http://realestatemontana.com/blog/commentRss/10026.aspxhttp://realestatemontana.com/blog/services/trackbacks/10026.aspxBillings real estate statistics March 2008http://realestatemontana.com/blog_post.asp?post=92432008-03-27T14:43:00Z2008-03-27T19:43:00-05:002008-03-27T14:43:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">
Market update at glance
3/22/2008
Year
Percentage Increase or -Decrease
Yellowstone County
2007
2008
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=9243">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/9243.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=9243#comment0http://realestatemontana.com/blog/commentRss/9243.aspxhttp://realestatemontana.com/blog/services/trackbacks/9243.aspx2008 Real Estate Update - February 16, 2008http://realestatemontana.com/blog_post.asp?post=82832008-02-18T12:32:00Z2008-02-18T17:32:00-05:002008-02-18T12:32:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">
Market update at glance
2/15/2008
Year
Percentage Increase or
-Decrease
2007
2008
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=8283">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/8283.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=8283#comment0http://realestatemontana.com/blog/commentRss/8283.aspxhttp://realestatemontana.com/blog/services/trackbacks/8283.aspxGood News - County Poised For Growthhttp://realestatemontana.com/blog_post.asp?post=80302008-02-07T20:06:00Z2008-02-08T01:06:00-05:002008-02-07T20:06:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">The 33rd Annual Economic Outlook Seminar had lots of good news for Yellowstone County including projected growth in our population, business opportunities, housing, and all areas.
Website for the Bureau of Business and Economic Research www.bber.umt.edu
The Billings Gazette had a summary article on February 6, 2008
http://www.billingsgazette.net/articles/2008/02/06/news/local/28-economist.txt<img src ="http://realestatemontana.com/blog/aggbug/8030.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=8030#comment0http://realestatemontana.com/blog/commentRss/8030.aspxhttp://realestatemontana.com/blog/services/trackbacks/8030.aspxBuilding site for salehttp://realestatemontana.com/blog_post.asp?post=74522008-01-15T18:21:00Z2008-01-15T23:21:00-05:002008-01-15T18:21:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">Pawnee Trail, Billings, Montana 59106
Nearly 1/2 acre building site in the Indian Cliffs Subdivision just Northwest of Billings. Big Sky views in all directions, near some newer homes.
Leave the City lights behind!<img src ="http://realestatemontana.com/blog/aggbug/7452.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=7452#comment0http://realestatemontana.com/blog/commentRss/7452.aspxhttp://realestatemontana.com/blog/services/trackbacks/7452.aspxReal Estate Statistics for all of 2007http://realestatemontana.com/blog_post.asp?post=74512008-01-15T18:17:00Z2008-01-15T23:17:00-05:002008-01-15T18:17:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">
Market update at glance
12/31/2007
Year
Percentage Increase or -Decrease
2006
2007
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=7451">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/7451.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=7451#comment0http://realestatemontana.com/blog/commentRss/7451.aspxhttp://realestatemontana.com/blog/services/trackbacks/7451.aspxReal Estate In Slump? Not herehttp://realestatemontana.com/blog_post.asp?post=68542007-12-16T10:50:00Z2007-12-16T15:50:00-05:002007-12-16T10:50:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">Article from the Billings Gazette Business Section, December 16, 2007, written by Jan Falstad
http://www.billingsgazette.net/articles/2007/12/16/news/business/28-haveyouheard.txt<img src ="http://realestatemontana.com/blog/aggbug/6854.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=6854#comment0http://realestatemontana.com/blog/commentRss/6854.aspxhttp://realestatemontana.com/blog/services/trackbacks/6854.aspxBillings Area Real Estate Statistics to December 7, 2007http://realestatemontana.com/blog_post.asp?post=68192007-12-14T09:25:00Z2007-12-14T14:25:00-05:002007-12-14T09:25:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">Snapshot of area statistics to December 7, 2007
Questions about information contact Howard Sumner
Market update at glance
12/1/2007
Year
Percentage Increase or -Decrease
2006
2007
..<span style="font-size:90%;margin-left:5px;color:#0000FF;vertical-align:baseline;"><font size="-3" color="gray">(</font><a style="text-decoration:none;" href="http://realestatemontana.com/blog_post.asp?post=6819">read more</a><font size="-3" color="gray">)</font></span><img src ="http://realestatemontana.com/blog/aggbug/6819.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=6819#comment0http://realestatemontana.com/blog/commentRss/6819.aspxhttp://realestatemontana.com/blog/services/trackbacks/6819.aspxHousing News In Montana Still Looks Goodhttp://realestatemontana.com/blog_post.asp?post=65612007-12-03T11:22:00Z2007-12-03T16:22:00-05:002007-12-03T11:22:00Z<div style="font-family:arial, geneva, lucida, sans-serif;">And...the interest rate is running at 5.75% to 6>00% right now.
Great article in the Billings Gazette on Sunday, December 2, 2007 written by Jan Falstad about the Montana market.
Check out the link below:
http://www.billingsgazette.net/articles/2007/12/02/news/business/28-haveyouheard.txt
<img src ="http://realestatemontana.com/blog/aggbug/6561.aspx" width = "1" height = "1" /></div>http://realestatemontana.com/blog_post.asp?post=6561#comment0http://realestatemontana.com/blog/commentRss/6561.aspxhttp://realestatemontana.com/blog/services/trackbacks/6561.aspx