December Greetings from Sharon and Brian,
Here are some Multiple Listing statistics for Gallatin County, some figures from the latest Bozeman Building Report, reasons to keep your land listing on the market now, why it’s a good idea to list your home during the winter, testimonials and quotes, how to fund your retirement, web sites to check out, and our Featured Listings.
Our warmest wishes to you and your family for a lovely, warm and Merry Christmas and Happy Hanukka.
12/16/2014 Gallatin County residential figures as of today show that our real estate market seems to have recovered since 2007. The numbers sold to date are 1251 (with 155 pending), compared to final figures of 1072 sold in 2006 and a low of 688 sold in 2009. Median price of residential sales in the county is up 6% in the last year.
At an average of 89 days on market now, we’re back at the 2007 rate, after a high of 119 days in 2009 in the midst of the recession.
Call us if you have questions about the market. We’re happy to do an informal comparative price analysis for your property at this time.
REASONS TO KEEP YOUR LAND LISTING ON THE MARKET FOR THE WINTER (or PUT IT ON NOW)
1. Real estate buyers shop year round on the internet – they might find your property in the winter.
2. Lower inventory equals less competition for the attention of Buyers. While November and December tend to be the slowest months for selling homes, this is not true for lots and land. Sellers who know to keep their lot and land properties on the market year round benefit from a reduced inventory on the market and improved selling conditions.
3. Vacationers who are here to ski and/or snowmobile become enamored with our area many times. And might be thinking of finding their own “piece of paradise.”
4. Buyers who are planning to build in the spring are looking for land during this season.
Housing industry experts are expecting continued growth in new home building in 2015, so homebuilders, developers and people looking for lots for a new home or land for development are researching and buying property now to be ready for the Spring 2015 homebuilding season.
LISTING YOUR HOME DURING THE WINTER:
Researchers say the winter market is less competitive for sellers since many people tend to wait until the spring to list. The smaller inventory of active listings helps sellers get more attention from buyers on their properties. Also, many large corporations often transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers.
Homes that are “priced right and show well can sell any time” of the year, says Nela Richardson, chief economist for Redfin. Winter buyers tend to be “serious buyers… Most people are not window-shopping” in December and January, like they do in the spring months, Richardson adds.
BOZEMAN BUILDING PERMIT REPORT – The most recently updated report is for 2015 Fiscal year to date October 2014. Interesting changes from 2013. Our inventory numbers may soon catch up to the market, at least in Multi-Family.
Numbers of permits from last year at this time:
Residential permits are down 25%
Duplex permits are up 80%
Multi-family units are up 44%
RESIDENTIAL 123 permits, Value of $28,649,720
(166 permits, Value of $40,058,663 last year)
DUPLEX – – 10 permits, Value of $3,685,174.00
(2 permits, Value of $799,078.00 last year)
MULTI-FAMILY OCT UNITS –
25 permits, Value of $33,821,839.00
(14 permits, Value of $9,584,889.00 last year)
Check out the Bozeman.net web site for more figures: http://bit.ly/1tVAIj2
WHAT OUR CLIENTS SAY:
Sharon was so helpful – and patient during the entire process of selling my home and then finding just the right home for me to buy. She and Brian were with me every step of the way to help me make good decisions and make sure my home was shown in the best light possible to people looking for a home in my area.
Sharon was very patient as we went through the process of discovering just what I was looking for in a home. She and Brian worked quickly to make this purchase happen so that we had the perfect home to move into just as we were closing on the house they sold for us. – Debbie Bloem – Seller and Buyer
QUOTES YOU MAY ENJOY:
“It’s tangible, it’s solid, it’s beautiful. It’s artistic, from my standpoint, and I just love real estate.” Donald Trump
“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.”
“Music gives a soul to the universe, wings to the mind, flight to the imagination, and life to everything.” – Plato
WEB SITE – Check out our newly-designed web site at www.bozeman-realestate.com .
Housing Expert Kathy Fettke: Investing in Homes Can Fund Your Retirement
Monday, 15 Dec 2014 04:59 PM
By Dan Weil
Buying homes and renting them out is a good way to provide retirement income, Kathy Fettke, CEO of the Real Wealth Network, a California real-estate services and consulting company, told Newsmax TV.
Without real estate investments, it will be difficult to fund your retirement, she said on.
“People will never be able to retire, because they’re being told to put away 10 percent toward retirement and maybe 10 percent in emergency funds,” Fettke said.
“Well that is not going to get you there,” said Fettke, also author of the new book, “Retire Rich with Rentals.”
You can’t rely on stocks, Fettke said. “If your money is in the stock market, you better retire when the stock market’s up.”
For those who were in the stock market, “you could have retired in late 2007 and done fine, but if you waited 18 months you would have lost half your nest egg,” Fettke said. “Nobody wants to take that risk anymore.”
Real estate is much easier, she said. “It’s a high leverage situation where you can use 20 percent of your money and borrow 80 percent from the bank if you have good credit and a good job history,” Fettke noted.
“And then you rent that property out and your tenant pays off that loan for you. If you accelerate that payment by making one extra payment a year, you can have that property paid off in 12 to 15 years.”
Demand for housing will be strong, giving you plenty of opportunity for tenants, Fettke said. “For the past six years we really stopped building in this country, but we have a population growth of about 4 million per year,” she said.
“Plus we’ve got the next biggest generation coming: it’s the baby boomers’ kids who eventually are going to want to have their own homes.”
But now they’re renting, so demand for rentals is currently strong at the same time there’s a shortage of housing, thanks to the lack of building, Fettke said. “So right now it’s just an incredible time to be a landlord, to be able to buy an investment property, rent it out to someone who needs it and wants to live indoors,” she said.
“People are moving out from mom and dad. We’re recovering in the U.S., and people want to live on their own. They’re willing to pay a landlord for that, and that landlord could be you.”
So your borrowing will pay off, Fettke said. “It’s the ultimate leverage where maybe you got a $100,000 house, you put $20,000 into it, and then you get the $100,000 house paid off through the help of the tenant.”