Trails West Real Estate

List of Improving Housing Markets Expands to Nearly 100

2012-02-09T09:01:00.000-08:00

This post is straight from RIS media and holds some good news.

The list of housing markets showing measurable improvement expanded by 29 metros in February to include a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index (IMI), released today. Thirty-six states are now represented by at least one market on the list.

The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. The February index adds some metropolitan areas that have been particularly weak; this is due to the fact that the IMI measures improvement from a bottom, and some of the hardest hit markets are showing signs of coming off of extreme lows. Keeping this in mind, notable new entrants to list in February include Miami, Fla; Boston; Detroit; Kansas City, Mo.; Portland, Ore.; Memphis, Tenn.; and Salt Lake City.

“The number of improving housing markets has risen for six consecutive months, and 36 states now have at least one metropolitan area on the list,” noted NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “This indicates that despite the many challenges that continue to drag on a housing recovery – including the tight lending environment for builders and buyers – improving conditions are slowly but surely spreading from one housing market to the next.”

“While many of the markets on the February IMI are far from fully recovered, the index points out where employment, home prices and housing production are no longer retreating and have held above their lowest recession troughs for six months or more,” said NAHB Chief Economist David Crowe. “This is a sign that a large cross section of the country is starting to turn the corner as local economic conditions stabilize.”

“The fact that there are nearly 100 markets now on the improving list shows that the momentum is building for a housing recovery and that more buyers and sellers are starting to feel confident enough to return to the market,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list.

Seven markets dropped from the NAHB/First American Improving Markets Index in February as they experienced softening house prices. These metros include San Jose, Calif.; Washington, D.C.; Kankakee, Ill.; New Orleans; Worcester, Mass.; Jackson, Miss.; and Sherman, Texas.

A complete list of all 98 metropolitan areas currently on the IMI, and a separate breakout of metros newly added to the list in February, is available at: www.nahb.org/imi [1].

Original post by Susanne, February 6, 2012 @ 4:53 pm In Finance and Economy, Real Estate Information, Real Estate News, Real Estate Trends http://rismedia.com

What's your style...

2012-02-06T11:59:00.000-08:00

Traditionalist, Contemporary, Vintage or Eclectic? For the past 2 weeks our office has been streamlining, cleaning and decorating. Each person has his or her individual design sense and the challenge has been pulling together a cohesive look while supporting each person’s style. Here is a quick survey that may give you and your personality some design direction and some handy apps for you…

iHandy level – FREE and self explanatory!

Decomash – FREE and brand new. Take a photo of your living space and the apps finds complementary artwork that matches the room and tells you where to find it!

Color Snap – FREE and so cool! Capture real world colors on your iPhone camera and then match that color to a Sherwin Williams paint color.

1. I enjoy colors that are:
(a) solid and bold, such as orange or red,
(b) softer and muted,
(c) richly hued shades, such as burgundy or gold.

2. When it comes to decorating I think:
(a) less is more,
(b) more is cozy,
(c) formal is more.

3. When I conjure up thoughts of my dream house, it most resembles:
(a) an urban loft overlooking the New York skyline,
(b) a quaint country cottage with a charming garden,
(c) a beautiful manor with precisely manicured lawn.

4. My favorite furniture pieces are:
(a) clean-lined and simple,
(b) distressed,
(c) solid wood with a history.

5. I want to paint my walls:
(a) white, but with a boldly colored accent wall,
(b) cream or off-white,
(c) beige, taupe, or other earthy warm tones.

If you answered mostly a's, then you will most likely enjoy a contemporary Swedish-type design. You're not afraid of color, but you like clean lines and order in your rooms. There's no clutter for you! You like lots of open space.

If you answered mostly b's, you have a shabby chic mentality. Designer Rachel Ashwell began this movement over a decade ago with her salvaged and restored furniture pieces and vintage prints.

If you answered mostly c's, then you are a true traditionalist. You love richly colored fabrics in silk and brocade. You love the formality of it all.

If you had a mix of a, b, and c, you have an eclectic styling sense. You take inspiration from all groups to form a cohesive and very individual, look.

(Article derived from Carla Hill at realtytimes.com)

Super...Super Bowl Spaces

2012-02-02T13:43:00.000-08:00

After researching the best spaces for watching the Super Bowl and what to snack on while watching, I have come to the conclusion that the Flathead Valley has some of the best of each! Here is the superest right here in our own backyard. McGilvray Lake Estate (mls #299341), has a poker table, beer bar, super screen TV and all the trimmings for a super Super Bowl experience. For the finest in Flathead Valley Super Bowl food, try Moose's Pizza in Kalispell, burgers from the Flathead Valley Burger Company (mobile truck), or head out to Jersey Boys in Whitefish. Go Patriots...Go Giants.

Super handy Real Estate apps from Trulia

2012-01-30T09:03:00.000-08:00

1. Genius Scan
What it does: Puts a document scanner in your pocket. Enables you to use your phone’s camera to take a picture of a document, and then email it to anyone in PDF or JPEG format.

Why it’s useful: Many real estate agents now use digital document signature software which allows you to sign with a click and, more importantly, without faxing documents back and forth. But some don’t - and some mortgage lenders will simply not accept anything but a copy or scan of your ‘wet ink’ signature.

Throughout your transaction, you might find yourself needing to scan and email your contract documents with your original signature, a copy of your deposit check, new payroll check stubs as you receive them, your driver’s license, a gift letter from your Auntie Grace or any of a number of other documents you’ll need to get to your agent or mortgage pro across town - or across the country. Having the ability to scan documents and checks and email them right from your phone can save you a lot of time and hassle - not to mention gas and cash.

Works with: iOS
Price: Free
Android Alternative: Document Scanner (Free 7-day trial/$3.98 for full version.)

2. Dictionary of Real Estate Terms
What it does: Translates the vast universe of real estate jargon and acronyms into plain English, putting a decoder at your fingertips for easy reference any time you need it during your house hunt or transaction. The Dictionary includes over 3,000 real estate terms, charts and graphs. You can save your searches and email terms to others. Your phone does not have to be connected to the Internet to use the Dictionary, which can be useful if you need to look up a term on an inspection or appraisal report while you’re in a home or office where you don’t have a great connection.

Why it’s useful: I can guarantee few things in life, but one thing I do feel comfortable assuring you is that home buying will expose you to terms you have never heard before. You need to know what the terms used in your inspection, disclosure, contract and loan documents mean, and sometimes looking them up is the best way to do that.

Works with: iOS and Android
Price: $1.99 (iOS) and 99 cents (Android)

3. House Hunter
What it does: Helps you organize your house-hunting notes and priorities so you can more easily remember and compare the homes you’ve seen. The app also helps you evaluate the homes you’ve seen by providing a scorecard that weighs features against what you’ve identified as requirements and priorities. It includes a mortgage calculator, photo storage, and a feature that allows you to share your notes with your agent, among other bells and whistles.

Why it’s useful: After you see about five houses, they can all blend together. This app helps you keep it all straight, while also keeping you mindful of what your original priorities were and how the homes you see measure up against them.

Works with: iOS
Price: $3.99

4. SpringPad
What it does: Helps you keep track of any and every thing you want to remember in a digital notebook you can access from anywhere, on any device. You can:

scan bar codes of home furnishings, appliances and other items you want to buy after you move;
save ideas, property addresses, online clippings from design and news sites, photos from decor magazines and to do lists from your mortgage broker;
categorize all these things - and more - by house hunt, mortgage and escrow, moving, and decorating; and
set reminders, share your notes with your agent or even get an email alert when the duvet you want goes on sale.

All without a single scrap of paper!

Why it’s useful: Empowers you to organize the hundreds of elements of your home buying adventure into a single spot and access it wherever you are - without carrying a bulky, messy binder or folder around.

Works with: iOS and Android
Price: Free

5. ColorSnap
What it does: Allows you to take a picture with your phone’s camera from anything in the world that inspires you, then discover the corresponding Sherwin-Williams paint color.

Why it’s useful: If you see a wall color you love in a home you, well, don’t like too much otherwise, you can capture the color and replicate that once you do find your dream home. Same goes for if you come across any other item in a color you love and would like to incorporate into your design scheme.

Works with: iOS and Android
Price: Free

6. Karl’s Mortgage Calculator
What it does: Calculates mortgage payments using the principal loan amount, interest and term (and can solve for any of these if you input the other three variables). This app also gives you a more precise idea of what your total monthly expenses will be on a given home by factoring in line items other calculators leave out, like mortgage insurance, homeowners association dues, property taxes and homeowners’ insurance. You can also see what kind of savings you might be able to achieve - and how early you can pay your mortgage off - by running scenarios that add in extra loan payments.

Why it’s useful: Having this mortgage calculator handy during your house-hunting adventures will enable you to quickly calculate how a given increase in your offer price will change your monthly payment.

Works with: Android
Price: Free
iOS alternative: Mortgage Calculator Pro (99 cents)

Realtors…Cultivate your Community

2012-01-25T09:07:00.000-08:00

Developing a business in any area means that you get involved. Real Estate agents are the gateway to a new lifestyle for clients. People moving to a new area want expertise, knowledge and enthusiasm for the community. Realtors may be the first navigator to the client’s social, emotional and financial decision. Are you up to the task?

Here’s a start:

Care about your area, region or town. Have a sincere interest in it. You need to become more than a person in the real estate industry. It is necessary to develop relationships and interests in how it works. What makes it special? To begin, you might support a local non-profit group with time and/or money. Become a part of the school community. Volunteer at local events. Know the decision makers in the area. Be involved in the local HOA or organize a fund raiser. Whatever you decide, you need lots of face exposure. Augment your exposure with a website, Facebook, LinkedIn, newsletters, or emails. Don’t forget those old-fashioned, hand-written thank you notes!

Your business will grow as you become part of your community’s growth. Find what interests you, what you love and do it. Your business will benefit!

Derived from www.realtytimes.com published 1/16/2012an

Save energy while selling your home

2012-01-20T15:12:00.000-08:00

If your house is on the market and sitting empty, that cost is important to watch so you don’t feel like you’re making a revision of the “Money Pit!”

You can turn off appliances but that’s not enough. Unplug them and put them away. They suck away at energy, costing you $$$. Besides that, a home shows so much better without those unsightly appliances. When a potential buyer is touring your home (whether you are living in it or not) you want it to look like a model home. Put away the toaster, blender, toaster grill, juicer, hair dryer, electric toothbrush, phone chargers, and maybe even the computer. You will de-clutter and save money on your utility bill, too. The buyer will be able to see the counter tops and the floor beneath a desk, instead of an electrical nest.

This isn't just for sellers. It's good for all of us. While we may not put every cord away routinely, we can conserve a bit more by unplugging (from the wall) the appliances. It stops the energy bleed.

It's also a good idea to get your heating/cooling system checked. I spent a whole lot of hundreds of dollars in Phoenix one summer with a poorly functioning HVAC system. Sure…a buyer’s home inspection will reveal issues but if you can start the energy-saving practices ahead of time, you'll be in good shape when buyers ask, "So, what's the average electric bill for this place?" A lower energy bill makes your home more attractive to a potential buyer.

Derived and summarized from www.realtytimes.com 1/6/2012

Boomers--could be real estate pay dirt

2012-01-17T11:43:00.000-08:00

Mother’s advice: Do something that services Baby Boomers and you will be wealthy. Well…I don’t think my children listened to me, but what do I know, I’m a Baby Boomer. There are nearly 80 million of us! According to a study by the National Association of Realtors, Americans born between 1946 and 1964 (considered Baby Boomers) own more homes than the national average with 1 out of 4 owning more than one.

The survey shows that 25% of all Baby Boomers are not satisfied with their present homes. That means a good portion may be considering a move. Let’s try to understand their preferences and needs.

Some numbers: 10% of Baby Boomers said they are likely to buy additional real estate in the next 12 months. 66% are considering the purchase of a primary residence, 26% are interested in land, 19% in rental property, 15% in a vacation or seasonal home and 14% in commercial property.

Of those Baby Boomers surveyed, an overwhelming number said that the perfect retirement location is a smaller town or community that offers the following:
• a secure environment
• easy accessibility to quality health care
• a good quality of lifestyle
• easy accessibility to shopping and travel facilities
• stable real estate investment values
• a moderate living climate without extreme weather
• natural beauty of the environment

Baby Boomers are investing in real estate. Where will they buy?

http://www.babyboomer-magazine.com/news/145/ARTICLE/1286/2011-09-14.html

Foreclosure Rate Heat Map

2012-01-12T16:23:00.000-08:00

According to Realty Trac...Montana has 156 foreclosure properties, 1 in every 2829 housing units

Foreclosure Rate Heat Map
What are new foreclosures as a percentage of the housing market?

Relocating to Montana?

2012-01-10T07:36:00.000-08:00

So you're thinking about making a move to Montana in 2012? Good plan! Here are some things you should know (especially if you're going Trivia Night at one of the the local micro breweries).

It is illegal to have a sheep in the cab of your pickup without a chaperone.

In Montana, the word "ditch” can mean "with water" when ordering a drink. Say, "I'll have a brandy ditch, please."

Helena, in 1888, had more millionaires per capita than any other city in the world.

Creeks in Montana are often pronounced "cricks."

The Montana Yogo Sapphire is the only North American gem to be included in the Crown Jewels of England.

"Going to the Sun Road" in Glacier Park is considered one of the most scenic drives in America.

Montana is known as the headwaters state because much of the water that flows to the rest of the nation comes from the mountains of Montana.

Glacier National Park has 250 lakes within its boundaries. A Helena, Montana law states that a woman cannot dance on a saloon table unless her clothing weighs more than 3 pounds 2 ounces.

In Montana the elk, deer and antelope populations outnumber the humans.

Flathead Lake in northwest Montana contains over 200 square miles of water and 185 miles of shoreline. It is considered the largest natural freshwater lake in the west.

That's just the beginning of fun Montana facts! (article derived from RealtyTimes)

Selling your home in 2012

2012-01-06T13:19:00.000-08:00

Selling your home in 2012?

Even though there is still an overstock of residential properties, there are definitely buyers out there. How can you make your property stand out above the rest? Here are some helpful hints derived from bankrate.com

1. Start with the right price

Don’t rely on old strategies of holding out. Make sure your real estate professional does a comparative sales survey and prices it accordingly from the start.

2. Do your “homework”

Prep, paint, stage, scrub, improve and then do it again, over and over. Your home should scream “Buy me, I’m beautiful!” from the curb all the way to the backyard.

3. Be ready to negotiate

Sweeten the pot by offering to pay closing costs, property taxes, HOAs, or leaving the appliances.

4. Embrace technology

Make sure you have an agent that is familiar with social media, Smart phone apps, and the internet. Buyers are using these tools to find homes.

5. Avoid Fraudsters!

If you're unsure of an offer, use a real estate professional or have an attorney or other trusted adviser look it over

6. Finance 101

Realize it's harder to qualify for loans these days. Consider cash offers, even if they're not the highest.

Remember, you are your best spokesperson for selling your home. If you can control your ego and emotions you can serve as an true asset. Be careful about making verbal promises. Let your real estate professional guide you.

Visit Western Handshake

Ringing the Bell a Little Louder

2011-12-06T09:22:00.000-08:00

Bill Milner goes above and beyond for Whitefish!

http://www.dailyinterlake.com/news/local_montana/article_6b8bf1ee-1ef9-11e1-bacc-001871e3ce6c.html

THANK YOU VETERANS! HOME LOAN PROGRAMS FOR VETERANS

2011-11-11T10:00:00.000-08:00

3rd Quarter Market Report

2011-11-03T09:16:00.000-07:00

TWRE on HGTV House Hunters

2011-08-11T11:45:00.000-07:00

Congrats to our friends at the Red Caboose Frozen Yogurt + Coffee and Trails West Real Estate for some time on NATIONAL television!

http://www.hgtv.com/house-hunters/couple-rushes-to-buy-home-in-montana/index.html

First Half of 2011 - Market Stats

2011-07-12T09:40:00.000-07:00

First Quarter 2011 Market Stats

2011-05-11T14:51:00.000-07:00

2010 Market Stats

2011-01-25T08:38:00.000-08:00

The following is the Market Stat Report for the Flathead Valley comparing sales activity from 2009 to 2010 by neighborhood. Land and luxury segments still struggled in 2010. Some rebound and turn in the market is evident in residential sales with increases in volume. However, median prices are declining across the board.

Tip for searching the internet

2011-01-04T11:23:00.000-08:00

I have found some useful tips that help narrow your search on the internet!

Place a plus sign (+) prior to each word to view each word separately within your search results, such as: "+writer+grammar+punctuation".
Place a minus sign (-) prior to each word to omit a word, such as: "recipe-meat" for a vegetarian meal.
Use quotation marks ("), to view consecutive words of a phrase, such as: "flower arrangement."
Use hyphens to replace quotation marks, such as: To-be-or-not-to-be.
Use plus signs with the quotation of a phrase, such as: +baking+"chocolate cake."
Connect words and phrases with hyphens and quotation marks to pinpoint the search, such as: "baking German-chocolate-cake."
Use and within a phrase. “James Taylor and singer” will result with a list of singers with the name of James Taylor.
Use not to eliminate part of a search. “James Taylor not singer” will result with a list of people that are '‘not’' singers, but have the name of James Taylor.
Use or. “James Taylor or Frank Sinatra” will result with a list of ‘'either or both’' of these phrases.
Connect to search similar items, such as: "blue-bird or black-bird or blackbird."

2010—Uplifting news in Real Estate Sales

2010-12-16T10:20:00.001-08:00

2010—Uplifting news in Real Estate Sales

There’s no end to real estate in the news. One can purchase the Montana property where the Unabomber lived for $69,500, or read about shoddily documented mortgages that have investors wondering if the housing slump will ever end. More locally, apprehension mounted when one of the Flathead Valley’s most prominent real estate companies went out of business.

However, some Flathead Valley offices claim they are seeing a surge in real estate sales. Trails West Real Estate certainly did. “It was a busy summer followed by an even busier fall,” notes Tom Brown, one of the five owners of Trails West. Buyers from all over the country and Canada seem to feel that this is the perfect place to buy a home. Sales are strong across all of Trails West’s five valley offices. From January 2010 to December 8, 2010, Trails West Realtors closed 236 deals, a total sold volume of $102,010,482. Laura Manning, Business Manager at Trails West credits the agents and owners for the company’s success.

“The owners made a commitment to expand at the onset of the market decline. Not only did they add new office locations, but they also invested in a new website with improved search capabilities for buyers. The 39 agents made commitments to grow their personal business through excellent client service, personal branding, and staying on top of market trends. We now have agents that specialize in short sales, lake properties, land, and workforce housing, just to name a few areas.”

Maintaining focus on growth and evolution has allowed Trails West’s agents to market their listings to a much broader field of prospective buyers and take over market share. Trails West now represents nearly 10% of all the residential sales volume reported by the Northwest Montana Association of Realtors through December 8^th of this year. In total residential sales volume, Trails West is approximately $20 million ahead of its nearest competitor for that same time period.

There’s never a crystal ball, but if November and December are any indication of sales action, it looks like 2011 will continue to show steady growth in real estate sales in the Flathead Valley. Maybe northwestern Montana should be in the national news. But then, no news is usually good news!

One of the luxury properties sold this year

by Trails West Real Estate

2010 Montana Economic Development Summit Update

2010-10-07T08:50:00.000-07:00

Dear fellow Montana EconomicDevelopment Summit participant,

The 2010Montana Economic Development Summit focused on Montana Solutions for Montana Jobs. One important step in creating jobs here at home is exploring opportunities to boost American exports.

During the week of October 10, Senator Max Baucus will be in Beijing and Shanghai tolook for ways to promote American exports, including high-quality Montana beef,wheat, and other products. The trip comes a month after Chinese Ambassador to the United States Zhang Yesui joined Max on a tour of Montana.You can find more information on that visit by clicking here.

Montana's relationship with China affects many industries, and presents both challenges and opportunities. We invite you to submit questions for Max to raise with the influential political and business leaders he is scheduled to meet in China. And please let us know if you have business partners in China that Max and his staff should reach out to while they're there. You can submit your questions and comments through our online portal by clicking here.

Thank you for helping us continue the important dialogue on Montana exports that we started at the 2010 Montana Economic Development Summit.

This email was sent by 2010 Montana Economic Development Summit, 127 South Excelsior, Butte, Montana 59701,

MANAGING THE STRESSES OF BUYING AND SELLING A HOME

2010-06-28T11:14:00.000-07:00

By Stanley Popovich
Many people deal with the anxieties of buying or selling a home. This process can be confusing to many people. As a result, here is a list of ways that a person can use to manage the anxiety of purchasing or selling a home.
The first step is to determine your goals in purchasing or selling a home. Determine what you want to accomplish. It will save you a lot of time and money in the long run if you know what you are looking for. Sit down and think about the overall goal of what you are looking for and convey this to your real estate agent. Some people like to write down their goals on a piece of paper so they have something to go back to when they get stressed.

Educate yourself on the steps of purchasing or buying a home. Go to your local bookstore and find some books that will explain the process of buying or selling a home. There are many books available that can inform you of the process and will help reduce the anxiety of the situation. Most importantly, you will be able to make smarter choices that will save you time and money.
Find a reputable real estate agent that can help you accomplish your goals. Ask some of your friends on who they recommend and get in touch with them. Referrals from people you know are a great way in finding a good real estate agent.

Get your finances organized. Make sure you have an idea on what you can afford and also make sure that your credit is good. The financial aspect of buying or selling a home does not have to be scary if you have a sound business plan and a realistic budget. Some people may buy a home that they can't afford and this can cause problems down the road. Determine what you can afford and develop a budget where you will be able to keep up with your bills.
In addition to using the services of a good real estate agent, try to get a friend who is more experienced to help you. Chances are good that you know someone who has purchased or sold a home. You could ask them for their assistance and ask them questions on what to do and what not do. Having a friend who can assist you along the way can really help reduce the anxiety of the process.
Read the fine print on everything before signing and do not assume anything. Ask questions if you are uncertain on some aspects of buying or selling a home. A good real estate agent will not mind if you ask questions, however you should do your part and try to educate yourself on the entire process.
There will be times when everything happens all at once. When this happens, a person should take a deep breath and try to find something to do for a few minutes to get their mind off of the current situation. A person could take a walk, listen to some music, read the newspaper or do an activity that will give them a fresh perspective on things. Once you calm down, you will better able to make the right decisions.
Purchasing or selling a home does not have to be a bigger deal than it has to if you take the proper steps. There is help out there if you get stuck or confused. The most important thing is to do your homework. Determine your goals, educate yourself on the steps to reach your goals, ask questions, and take it one step at a time. If you follow this advice you will be better able to reduce the stresses of purchasing or selling a home.

BIOGRAPHY:

Stan Popovich is the author of "A Layman's Guide to Managing Fear Using Psychology, Christianity and Non Resistant Methods" - an easy to read book that presents a general overview of techniques that are effective in managing persistent fears and anxieties. For additional information go to: http://www.managingfear.com

Flathead Lake Waterfront Sales Rebounding

2010-06-08T08:59:00.000-07:00

Flathead Lake Waterfront Sales Rebounding

Flathead Lake waterfront properties have arguably been the hardest hit in the current recession. Significant media attention was given to the fact that no waterfront residences sold for the first 6 months of 2009, followed up by the hype of a multi-million dollar waterfront auction. Once prices adjusted accordingly, the second half of 2009 finished with a respectable 20 waterfront sales compared to 23 in 2008, and total sales volume down only 26% from the previous year.

Assuming 2009 was the low point of this cycle, the second-half rebound has continued into the first part of this year. Pricing pressure continues to keep Flathead Lake properties affordable, and sales continue to pick up. Extrapolating the current sales rate (through May, 2010) to the end of 2010 results in an annual increase of 80% in transactions and 63% more in total sales over 2009. Even if this rate does not continue, the fact remains that 15 properties have changed hands for a total of nearly $13M in sales volume in the first 5 months of this year, compared to the big goose egg in the first half of 2009!

Waterfront inventory has steadily been on the rise since the first of the year as sellers ramp up for the summer selling season, and sellers have been encouraged by sales activity. List prices have been flat to falling over the same period for residential waterfront, and land prices have been holding steady with very little activity.

I expect the current prices to hold steady for the rest of this year if the existing economic environment persists. If interest rates make a sharp rise, we could see prices drop a bit further. Given there will always be a limited supply of waterfront land on Flathead Lake, and a persistent demand for the unique enjoyment of waterfront living, the trending data gives us an idea of where the bottom of the lake market really is.

Please visit www.DavidFetveit.com for more updated market information, and subscribe to the Waterfront Market Report – a monthly electronic publication containing up-to-date sales and market information for Flathead Lake waterfront.

Montana Economy - signs of turnaround

2010-06-02T11:52:00.001-07:00

The Montana Department of Labor and Industry: Research and Analysis Bureau just released an update on the Montana ecomony. Their report states that while the U.S. economy appears to be in recovery, the signs are not so clear for Montana. Unemployment rates continue to rise, but job growth is also being reported. Their report also states that "using personal income data, Montana has joined the nation in its economic recovery" which is a good sign. The continued growth in unemployment is not unusual. Job growth normally doesn't occur until months after a significant turnaround in the economy. For the full article and charts to help visually explain the state of the economy, visit their website at www.ourfactsyourfuture.org.

More specifically, we are noticing a significant upswing in business in the real estate industry. Both 4th quarter 2009 and 1st quarter 2010 showed significant improvement over prior years. For market information specific to your neighborhood in the Flathead Valley visit our website at www.trailswestrealestate.com and visit the Market Stats section under the About Us tab.

Laura Manning is the Business Manager at Trails West Real Estate and enjoys crunching numbers almost as much as boating, hiking, camping, and playing outdoors during the long beautiful days of summer. She can be reached at 406-837-7050 or laura@twre.com if you would like additional market information.

Homebuyer tax credit updates

2010-03-09T09:44:00.000-08:00

OK, so by now a lot of people have heard about the Homebuyer Tax Credit, but there is still so much confusion. I can't count the number of people who have said, "Yeah, I've heard of it, but it isn't really getting money, it is just a reduction in taxes if you are going to owe taxes, right?" WRONG! This is real money. If you were going to get $1,000 back on your taxes and you purchased a qualifying property, you would get $9,000 back instead.

Of course, there are a number of things to consider and you should talk to your qualified Realtor and a CPA before jumping in, but this is a tremendous opportunity and it won't last forever. If fact, you must have a property under contract by April 30th, 2010 and it must close by June 30th, 2010 in order to get the credit.

**This is a partial list and should not be used as a complete guide! This can get “messy” when dealing with documentation so be sure to visit with your Certified Public Accountant!!
Here is a brief list of other things to consider when thinking about taking advantage of this opportunity:
1. The credit is $8,000 OR 10% of the purchase price, whichever is less for a first-time homebuyer. The credit is also available for current homeowners (see note below) and is $6,500 or 10% of the purchase price, whichever is less.
2. Current homeowners can purchase a new home and receive a credit by applying for the Long-Time Resident Credit. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. To avoid delays, proper documentation needs to be attached to the tax return.
3. TAX SEASON NOTE: The documentation requirements mean that taxpayers claiming the homebuyer credit cannot file electronically and must file paper returns! Also, you can file your taxes, close on your property and then file an amendment for your 2009 taxes to receive the credit prior to filing 2010 taxes after the 1st of 2011. Because some people (who are these people!!) are filing fraudulent claims, the IRS has a lot of work to do in verifying the claim is real and the credit is taking six to nine months to get processed!
4. The credit does NOT need to be repaid UNLESS the home is sold or turned into a rental within 36 months of purchase.

Well, that is some of the information about the tax credit. On one hand, it is pretty straightforward; the money is there for the taking as part of the stimulus. On the other hand, there are some “i’s” to dot and “t’s” to cross so navigate carefully. We’re happy at Trails West to answer some basic questions. You can also visit our website at www.trailswestrealestate.com and look at a chart we’ve made available under the Buyer Tab that helps answer some of your basic questions. Call or visit us at the following locations:
Bigfork: 420 Electric Avenue (Downtown) or 301 Eagle Bend Drive (Eagle Bend) (406)837-7050
Lakeside: Hwy 93 and Bills Road (406)844-6050
Whitefish: 1399 Wisconsin Avenue (moving soon to 148 Central Avenue Downtown) and our Lake office inside the Lodge at Whitefish Lake. (406) 862-4900

Top Producer 2009

2010-03-05T13:12:00.000-08:00

Real Estate not selling in the Flathead Valley? You won’t hear Brett Bennetts of Trails West Real Estate say that. Brett is Trails West’s Top Producer for 2009 and is nothing but optimistic about the real estate market in the Flathead Valley. Other top producers at Trails West include Matt Buckmaster, who joined Trails West in mid 2009, and closed enough volume to be the second highest producer company wide. Janae Donoghue was the company’s third highest producing agent. These Realtors work diligently to serve clients with their knowledge and expertise. The properties they represent range from a starter house in Kalispell, to land in Whitefish, to the most luxurious of lakeshore and view properties. “We couldn’t do it without the support of the Realtors, Brokers and staff in our Trails West family,” noted Brett.
Trails West would also like to recognize the following agents who were top producers in each office. For Bigfork: Brett Bennetts, Janae Donoghue Moore and Steve Dooling. For Whitefish: Matt Buckmaster, Doug McNicoll and Kelly Talsma. And Lakeside: Sandy O’Connell, David Fetveit and Cindy Lanier.
With five Flathead Valley offices, clients receive timely and knowledgeable service. In addition, Trails West is aggressively developing its technology. The new Trails West website offers potential buyers expanded search options, has enhanced online tracking and measuring capabilities, and provides sellers with immediate response and feedback on their listings. Via the website, Trails West Realtors have the ability to create portals for projects and personal marketing. Most importantly, with today’s competitive technology, the new website offers advanced search optimization, and that’s a serious plus for Trails West’s clients. The affiliation and web presence with Christie’s Great Estates is another plus that gives sellers of luxury properties an international presence and referral network for marketing luxury real estate.
With all the chatter about real estate not selling, Trails West begs to differ. The 42 Realtors of Trails West Real Estate closed over 180 transactions in 2009 totaling more than $80 million in sold volume. Who says property isn’t selling in the Flathead Valley? You won’t hear Trails West saying that!

2010-03-05T11:25:00.000-08:00

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