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Missoula Montana Real Estate Market Trends Report – March 2009
April 9, 2009 by admin · Leave a Comment
Missoula Montana Real Estate Market Trends Report – March 2009
In Missoula MT, we saw a spike in home sales in February comparable to last year. We are still seeing a good number of sales in March but the numbers are down from 2008.
A bright spot is that the median home prices are showing an increase from last year at the same time. The days on market are up in the Missoula Urban Area but not alarmingly high and are the same for the County overall.
March’s weather was unpredictable and chilly. We had an average temperature of 33 degress for the month, which when combined about concerns about the economy, may have kept some buyers indoors.
We have witnessed an increase in inquiries about properties, new buyers and have excellent turn-outs for open houses which keeps us optimistic about Spring in real estate in the Missoula area.
Residential Market Activity in the Missoula Urban Area
(residential, AND residential with acreage)
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 48 | $ 225,750 | 119 |
| 2008 | 70 | $208,250 | 114 |
| 2007 | 84 | $222,590 | 138 |
| 2006 Funny Money divx | 97 | $204,000 | 132 |
| 2005 | 87 | $190,500 | 134 |
| 2004 | 80 | $168,387 | 108 |
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 66 | $230,750 | 125 |
| 2008 | 93 | $214,900 | 125 |
| 2007 | 112 | $231,000 | 135 |
| 2006 | 130 | $204,500 | 132 |
| 2005 | 108 | $191,000 | 138 |
| 2004 | 104 | $161,450 | 114 |
| Year
|
# of Sales download Domino dvd | Median Price Dolans Cadillac | Avg Days on Market |
| 2009 | 162 | $235,000 | 144 |
| 2008 | 224 | $216,000 | 127 |
| 2007 | 277 | $214,000 | 132 |
| 2006 | 323 | $200,000 | 136 |
| 2005
|
254 | $179,900 | 137 |
| 2004 | 252 | $162,450 | 124 |
|
|
Residential | Condos / Townhomes | Res. with Acreage | Multi-Family | Land | Commercial |
| Missoula Urban Area | 662 | 178 | 66 | 46 | 476 | 133 |
| Missoula County | 779 | 180 | 294 | 48 | 997 | 185 |
Sales for Missoula County provide a more regional picture. However, a county representation is not a reliable indicator of the market in any of the individual and unique communities within the county. Sales represent properties that have transferred and the transaction has closed. It is the best reliable indicator of what prices the real estate market will bear.
The national media is beginning to take note that not every market is reflecting the national housing downturn. The New York Times singled out Missoula as a ‘stable’ market. And a real estate forecasting service called “Housing Predictor” says “They’ve dodged the bullet in the nation’s housing depression in North Dakota and Montana.”
Data Source: The Missoula Organization of Realtors (R)
For More Information on the Missoula Housing Market & Economy, you can read:
Interest Rate Update & Commentary 4/2/09
Missoula Montana Real Estate Market Report February 2009
Missoula Real Estate – Rosy Compared to the Rest of the Country Toy Love movie
A Breath of Fresh Air – A Positive Outlook for Montana’s Economy
Missoula Predicted to Be in the Top 25 for Housing Real Estate Markets in 2009!
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7 Reasons to Own Your Own Home
March 10, 2009 by admin · Leave a Comment
7 Reasons to Own Your Own Home
Source:
National Association of Realtors: Guide to Home Buying
1.) Tax Breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.
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2.) Gains.
Since 1989, national home prices increased at an average of 5.5% annually. And while there’s no guarantee of appreciation, it is estimated that, through price gains and reducing mortgages through payment of principle, a typical homeowner has $144,000 in equity in a home, based on data from the Federal Reserve.* *”Flow of Funds Accounts of the US,” Federal Reserve Statistical Release, Table B.100 Three Days of the Condor film
3.) Equity.
Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4.) Savings.
Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5.) Predictability. Running with Scissors video Unlike rent, fixed mortgage payments don’t go up over the years, so your housing costs may actually decline as you own the home longer. (Note: Adjustable mortgages may change if there is a change in interest rates.) However, keep in mind that property taxes and insurance costs may rise.
6.) Freedom.
The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home. Bud Abbott Lou Costello Meet Frankenstein rip
7.) Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you establish lasting friendships.
