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June 2012

Found 22 blog entries for June 2012.

4th-july-stagecoach_300On July 2nd the normally tranquil town of Livingston (population 7,500) swells to max capacity with parade goers. In anticipation, locals stake out prime sidewalk frontage early in the morning. If your lawn chair isn’t in place by 10 AM, expect to stand. The Livingston Roundup Parade usually kicks off around 3:00 PM and winds down by 5:00 PM.

698 Views, 0 Comments - It’s time to officially declare a real estate price bottom. And yes, prices could erode further in the hardest hit markets – At least statistically – but remember, the lower they’ve gone, the more likely they are to rebound with gusto.

 Market fundamentals usually develop so that the market with the lowest prices now will tend to rebound with more “bounce” over time. This means that the hardest hit markets,still highly desirable locations in the sunbelt, will yield much better equity over time. The stronger areas, which have sustained higher prices per square foot, will not be as volatile to the “up-side” as these areas that were over-built and over-invested.

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632 Views, 0 Comments - Home price purchases were mixed month-over-month in May, with non-distressed prices up and short sales down, according to the Campbell/Inside Mortgage Finance HousingPulse tracking survey.

From April to May, transactions reported by HousingPulse survey respondents revealed the average price for non-distressed properties rose 1.7 percent, while the average price for short sales fell 0.7 percent. For damaged REOs, the average price went up 1.8 percent and for move-in ready REOs, the average price dropped 1.5 percent.

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700 Views, 0 Comments - Demand for new U.S. homes rose more than forecast in May as mortgage rates dropped, bolstering the residential real-estate market while other parts of the world’s largest economy cool.

Purchases climbed to a 369,000 annual rate, the most since April 2010 and up 7.6 percent from the prior month, the Commerce Department reported today in Washington. The median estimate in a Bloomberg News survey of 67 economists was 347,000. The number of houses on the market held near a record low.

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632 Views, 0 Comments - Real estate professionals say appraisals sometimes come in thousands of dollars below the price that home buyers and sellers have agreed upon.

 Are some appraisers failing to see the improvements in real estate values underway in local markets that have recently bottomed out and turned positive? When multiple bids push a house price thousands of dollars above what the seller is asking — not unusual in neighborhoods where demand is particularly robust — are appraisers still coming in with values below the agreed-upon price?

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849 Views, 0 Comments

After inching back up in the previous week, the 30-year fixed rate mortgage (FRM) has again plummeted to a new low,Freddie Mac reported Thursday.

According to Freddie Mac’s Primary Mortgage Market Survey(PMMS), average mortgage rates are easing, even in the face of troubling economic signs. The 30-year FRM averaged 3.66 (0.7 point) for the week ending June 21, down from 3.71 percent the previous week. At the same time in 2011, the 30-year FRMaveraged 4.5 percent.

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672 Views, 0 Comments - Ahh, the age-old, existential question faced by buyers and sellers since time eternal: update or credit? 

Tara-Nicholle Nelson advises you to update, here are the reasons why:

1. If you're not yet 100 percent sure you're selling, replacing them now allows you to enjoy the upgrades. 

2. Replacing them now might boost your home's chance of selling more than a price discount.

3. Replacing them yourself might be more cost-effective. 

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1,051 Views, 0 Comments - New home sales rose during the month of April. This 3.3 percent rise reported by HUD and the U.S. Census Bureau is consistent with predictions of sustained growth through the rest of the year.

On a regional basis, new-home sales rose 7.7 percent in the Northeast, 28.2 percent in the Midwest and 27.5 percent in the West in April. The South was the only region to post a decline for the month, of 10.6 percent.

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692 Views, 0 Comments

Homebuilders grew more confident in June with buyers taking advantage of low interest rates and affordable prices, the National Association of Home Builders said Monday.

The index component measuring current sales conditions grew two points to a score of 32 in June, its highest level since April of 2007.

Meanwhile, the association's index measuring builder confidence reached its highest level in four years during the month of June.

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858 Views, 0 Comments - Gone are the dead pigeons, the asbestos, the mold, pigeon poop, ruined floors and the odd Montana State University diploma left behind by squatters.

Jerry Pape Jr., the Bozeman real estate agent who has overseen the $100,000 cleanup, gave reporters a tour inside Thursday to show that the owner and developers are serious about a $10 million plan to transform the 1941 Armory into an elegant six-story hotel and event center, which could pump new life and dollars into downtown.

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732 Views, 0 Comments