Wednesday, November 12, 2014 / by Jason Schaefer
The latest trend in real estate has figures where adults living with someone other than a spouse or partner climbed to 32% in 2012 from 26% in 2000. In fact, this trend is expected to increase. Why? Because home ownership numbers are down, and the rental markets have tight inventory across most of the country, including Missoula, MT.
Working adults comprise, and have found the situation very satisfying. They're able to split bills such as utilities and food bills. The added bonus is companionship. Keeping in mind, markets vary considerably with the difference in home affordability, versus deciding to rent. Missoula and surrounding communities like Lolo, Stevensville, and Frenchtown offer great alternatives to renting. In particular, those surrounding communities where the median home price is usually lower than in Missoula.
Source: CNN Money
Tuesday, November 11, 2014 / by Jason Schaefer
Bad things happen to good people. We're all aware of the scenario. Extenuating factors such as a job loss, poor economic conditions, a major injury or health related issue, can all create a whirlwind and dramatically effect people in a hurry.
Whether it's bankruptcy, debt collection, or foreclosure, people need to know the main thing is give it time. 7-10 years may seem like an eternity, but when people "work" on their credit after the said event, these little things can all add up to help speed up the 7-10 year time frame. Steps to help in this process are making payments on time, not carrying large credit card balances, and applying for new credit only when necessary.
Over time, the negatives will eventually reflect less poorly on one's credit score. That late payment 12 months ago, doesn't effect a person's credit nearly as bad as 1 month ago. Foreclosure and bankruptcy do have a more profound effect on the amount of time needed to recover. ...
Sunday, November 9, 2014 / by Jason Schaefer
With the extreme winter blast and cold temperatures here, now is the time to make sure that Missoulians have their homes ready. Here are some great tips that can help conserve energy and make sure the warm air is staying in, while the cold is staying out.
Hopefully everyone by now has blown out their underground sprinklers if they have them! Freezing water lines can damage your system going into Spring.
Another simple one that folks often overlook is changing furnace filters. Filters should be checked at least monthly for debris.
Adequately programming your thermostat can be very helpful when conserving energy and saving money. Making sure that you have programmed the temperature while nobody is at home during the day because they are working, and setting the system to recover 30 minutes before arriving home is your best bet.
Lastly, if you have not had them out, contact Northwestern Energy and have an Energy Audit done. &n ...
Thursday, November 6, 2014 / by Jason Schaefer
After a very challenging winter, coupled with stints of brutally cold weather and piles of snow in December, January, and February, Montana's real estate has showed strong signs of growth. There are 7 major markets that data is pulled from, including: Billings, Bitterroot Valley, Gallatin Valley, Great Falls, Helena, Missoula, and Northwest Montana. The Helena and Kalispell areas saw the highest percentage of growth, coming in at 16% and 14.2% respectively.
Experts are expecting to see this trend continue for the rest of 2014 and into 2015. With strong commercial construction taking place in Missoula, with the recent sale of the Mercantile building and the continued expansion of South Crossing, there's good reason for optimism in the Missoula housing market.
This link shows more in depth the Missoula Real Estate numbers for the past 5 years, click here - Montana Housing Statistics
Wednesday, November 5, 2014 / by Jason Schaefer
College and University towns have been out pacing those without in terms of growth at a rate of nearly 32% since 2004. From a sample of 10 cities, such a place like Ithaca, NY, home to Cornell University and Ithaca College, home prices have experienced up to 52% growth since 2004. Boulder Colorado, home to the University of Colorado, home prices have increased 26% in that same time.
While many can thank Universities and Colleges for the increase, students themselves are also feeling the effect post-graduation as first-time home buyers. Bogged down with student loans can have an adverse effect on graduates getting approved for a loan. The part of the market, rentals in University and College towns, along rising student debt remains to be seen how it will shake out in the future.
What this means for Missoula and in particular our student housing market, is that property owners and investors can see the benefits of the University of Montana being located here. Whil ...