Happy New Year!
The year has started out with plenty of snow and cold weather, but the Real Estate Market has started out with good news! President Obama recently announced that FHA would be cutting Mortgage Insurance Premiums by .5%. The premiums were increased to pay for the shortfalls in bad loans during 2007-2009. FHA is doing well and has recovered from the financial losses during that time. This will help first time home buyers with mortgage costs.
Sales from 2014 have been calculated and the results are in! sales from 2013 to 2014 were up with 60.8% of listed homes sold, and overall average sale price is up to $231,000 from $223,400. The number of homes in the 4-6 month range represents a “healthy real estate market”, neither a sellers’ market or buyers’ market.
This is a Legislative year for Montana and the Montana Association and Billings Association of Realtors are hard at work fighting for Private Property Rights across the state. Some of the issues we are working on Sales Price Disclosure (SB54), tax relief for Seniors, Subdivision Impacts and division of lands and especially, issues in regards to water rights, exempt well, and water adjunction laws.
Just recently Jileasa and I hosted a booth at the Home Builders Association Home Show held at the Holiday Trade Center. There were 58 booths and the show was well attended by area homeowners looking to make upgrades and investments to their homes. We have two First Time Home Buyer classes and a Downsizing Seminar for Seniors planned for the year. If you, or someone you know, are interested in attending one of these, please contact myself or Jileasa at (406) 869-2012 to hold a spot.
Once again, I wish you happiness and good health in 2015. I look forward to hearing from you or receiving a referral from you 🙂 in the near future. We will continue to work hard to earn your business.