Western Montana Real Estate

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We are your Western Montana Real Estate specialists.  With office locations in Missoula, Hamilton, Polson, Kalispell, Meadow Lake, Libby, Deer Lodge and the Southgate Mall in Missoula.

Lambros Real Estate ERA
Phone: 406-532-9200
Toll Free: 888.735.sold
Fax: 406-532-9330
www.lambrosera.com
 
January 27, 2015 · by Gabrielle · Real Estate, Uncategorized

sold sign

By Adam DeSanctis, Realtor.org

Despite low inventory conditions, existing-home sales bounced back in December and climbed above an annual pace of 5 million sales for the sixth time in seven months, according to the National Association of Realtors, median home prices for 2014 rose to their highest level since 2007, but total sales fell 3.1 percent from 2013.

Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.4 percent to a seasonally adjusted annual rate of 5.04 million in December from a downwardly-revised 4.92 million in November. From a year ago, December sales were higher by 3.5 percent and are now above year-over-year levels for the third straight month.

For all of 2014, there were 4.93 million sales, a 3.1 percent decline from 2013 (5.09 million). The national median existing-home price was $208,500, the highest since 2007 ($219,000) and a 5.8 percent increase from 2013 ($197,100).

Lawrence Yun, NAR chief economist, says sales picked up in December to close a 2014 that got off to a sluggish start but showed encouraging signs of activity the second half of the year. “Home sales improved over the summer once inventory increased, prices moderated and economic growth accelerated,” he said. “Sales were measurably better in the second half – up 8 percent compared to the first six months of the year.”

Total housing inventory2 at the end of December dropped 11.1 percent to 1.85 million existing homes available for sale, which represents a 4.4-month supply at the current sales pace – down from 5.1 months in November. Unsold inventory is now 0.5 percent lower than a year ago (1.86 million).

“A drop in housing supply in December raises some affordability concerns in the months ahead as minimal selection and the potential for faster price appreciation could offset the demand from buyers encouraged by a stronger economy and sub-4 percent interest rates,” says Yun. “Housing costs – both rents and home prices – continue to outpace wages and are burdensome for potential buyers trying to save for a downpayment while looking for available homes in their price range.”

Click here to read the rest of this article and watch a short video…

 

January 7, 2015 · by eraw5330 · Commercial Real Estate, Community, Real Estate

Real Estate Market report for Missoula County, Bitterroot Valley, Flathead County and Lake County

January 6, 2015 · by Gabrielle · Uncategorized

ERA Lambros would like to congratulate Bill Bucher, Ed Coffman, Karen Reyner, John Sinrud, Sandra Brown, and Tillie and Tony Marshall on earning Top Producer for the month of December! Visit any of our offices in western Montana for the most professional and knowledgeable real estate agents in the business.

December 2014 Top Producer

December 30, 2014 · by Gabrielle · Real Estate, Uncategorized

By Damian Maldonado – CNBC

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The housing market has, by many measures, turned a corner.  With the potential for interest rates to move higher, there is much to expect in 2015.  Here are five trends to spot:

  1. A last call for refinancing.  At its highly anticipated mid-December meeting, the Federal Reserve Board announced it would exercise “patience” when considering raising interest rates. Chair Janet Yellen indicated it would be early April before the board would meet again to discuss an increase in interest rates, meaning that the first quarter of 2015 could signify the end of historically low interest rates.  This means the window is starting to close for refinancing. This is the last call for anyone with a higher rate who has not yet refinanced.  This is particularly critical for homeowners who took out an adjustable-rate mortgage.  Buyers who have been sitting on the sidelines should consider how rising interest rates could impact their monthly payments and purchasing power.
  2. 3% down payments.  If you’re looking to buy your first home and have trouble coming up with a substantial down payment, there are new programs to assist you.  In early December, Fannie Mae and Freddie Mac announced conventional loan down payment programs that allow first-time buyers with good credit to qualify for a fixed-rate mortgage with a 3% down payment. There are stipulations to qualify for the program:  Borrowers must meet first-time buyer requirements and they must reside in the home.  There are many state and national programs which offer grants that range from 1% to 5% to be used for a down payment or closing costs. And remember that smaller down payments mean you will pay mortgage insurance in addition to your mortgage payment each month.  These easing loan standards will allow more first-time buyers to enter the market.

Please click here to read the rest of this informative article from CNBC…

 

December 16, 2014 · by eraw5330 · Real Estate
December 15, 2014 · by eraw5330 · Life Styles, Real Estate

Real Estate for Sale in MissoulaBy  Last updated December 09, 2014

Being in buried debt and not knowing how to get out of it can be very overwhelming. Add to that the many strategies, methods, and tips for paying off debt, and you may be ready to quit before you’ve even started.

Not to worry though. There are two very popular, proven ways to pay off debt: the ‘debt snowball’ method and the ‘debt snowflake’ method. But what are the differences between them? And which one is best for you?

Below is a complete explanation of both types of debt repayment strategies so you can compare which method is right for your situation.

Click here to read more…

December 11, 2014 · by eraw5330 · Real Estate

Polson Residential Real Estate Information for Missoula MT

Western Montana Real Estate offices located in Missoula, Missoula Southgate Mall, Hamilton, Kalispell, Libby, Polson and Deer Lodge © 2014 Lambros ERA