Western Montana Real Estate

CLICK HERE TO SEARCH FOR:   RESIDENTIAL PROPERTIES  or  COMMERCIAL PROPERTIES

Your Western Montana Living Resource. It’s time to start living the Montana Way.

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
 
July 21, 2014 · by Gabrielle · Uncategorized

Lambros ERA would like to congratulate Jeremy Schultz, Ed Coffman, Mark Nelson, Catherine Taylor and Kerry Munro Mann on earning Top Producer for the month of June! Visit any of our offices in western Montana for the most professional and knowledgeable real estate agents in the business.

July 2, 2014 · by Gabrielle · Real Estate, Uncategorized

So you’ve decided it is time to sell your house.  Here are a few things you can do prior to listing your house that will help you sell your home faster:

  • Walkthrough your home and ask yourself, “What would I notice if I were buying this house?”  This seems like a simple step but it is often overlooked.  We live in our homes for many years and often become accostumed to a number of things that will throw off potential buyers.
  • Keep an eye out for any repairs that need to be made. Fixing small surface problems will eliminate things that may distract or concern buyers.
  • Declutter your home.  This is so important because a cluttered home is hard to sell.  Take the time to pack up at least half your belongings – whatever you don’t need to live should be packed for the time being.  Not only will your listing photos look better but the house will show better too.  You may also want to consider renting a small storage unit during this time – a garage full of boxes will not help your home sell.
  • Don’t forget to declutter your closets too.  Buyers will be looking at how much storage space your house has and it can be hard to imagine how much room is in a closet that is stuffed to the gills.  Pack up at least half of the items in every closet.
  • Keep it clean.  A large part of this is encompassed in #2 above but make sure that you keep your house clean during the listing period.  You never know when a buyer may want to see the place and this will take a lot of the stress out of the situation if they want to come over in an hour and you’re at work.
  • Consider updating the home with paint and other small fixes.  A new coat of paint can go a long way toward making your home look well-maintained and fresh.  Also consider replacing dated light fixtures or cabinet hardware. These little fixes are inexpensive and fast but can really change the entire feel of your house.

Hopefully this will help you get started – Remember that your listing agent should be able to give you additional advice on what you need to do to sell your home faster.  Please consider their advice carefully.  If they think that it would be beneficial to spend $1000 repainting your house, they’re probably right.  Sometimes it is the small investments that will pay off in a big way – namely getting more money for your property and getting it sold faster.

Lambros ERA Real Estate
3011 American Way | Missoula, MT 59808
406.532.9200 | 888.735.SOLD (7653)
Fax: 406.532.9330

Website: www.lambrosera.com

June 11, 2014 · by Gabrielle · Uncategorized

From NewsMax

Confidence among U.S. homebuilders jumped more than anticipated in May, reaching a five-year high that signals an improving outlook for construction.

The National Association of Home Builders/Wells Fargo index of builder confidence rose to 29, the highest since May 2007, a report from the Washington-based group showed. The gauge exceeded the highest projection in a Bloomberg News survey in which the median estimate was 26. Readings below 50 mean more respondents said conditions were poor.

Companies such as building products maker Ply Gem Holdings Inc. are benefiting as cheaper homes and mortgage rates at a record low combine boost demand. At the same time, foreclosures remain a hurdle for new construction and property values, one reason a rebound in real estate is taking time to develop three years after the end of the recession.

“We have resumed the gradual upward trend in confidence that started at the beginning of this year,” Barry Rutenberg, chairman of the National Association of Home Builders and a builder from Gainesville, Florida, said in a statement. This comes “as stabilizing prices and excellent affordability encourage more people to pursue a new-home purchase.”

The report showed gains in measures of current single-family home sales, the outlook for the next six months and buyer traffic.

Estimates of 47 economists in the Bloomberg survey ranged from 23 to 27. The group revised April’s reading to 24, from a previously estimated 25. The gauge, which was first published in January 1985, averaged 54 in the five years leading to the recession in December 2007. It reached a record low of 8 in January 2009.

More Sales and Traffic

The builders group’s index of current single-family home sales climbed to 30 this month, from a revised 25 in April. A measure of sales expectations for the next six months rose to 34 from a revised 31, and the gauge of buyer traffic increased to 23, the highest since April 2007, from 18.

The confidence survey asks builders to characterize current sales as “good,” “fair” or “poor” and to gauge prospective buyers’ traffic. It also asks participants to gauge the outlook for the next six months.

Confidence improved among builders in three of the four U.S. regions, led by the Northeast, where it rose to 32 from 26. The Midwest showed an increase to 27 from 22, and the South had a gain to 28 from 23. Confidence dropped in the West to 29 from 31 the prior month.

Ply Gem, a maker of exterior building products such as vinyl siding, fencing and stone veneer, reported a 20 percent increase in sales in the first quarter, in which it also had an operating profit compared with a loss a year earlier.

Click here to read the rest of this article…

Lambros ERA Real Estate
3011 American Way | Missoula, MT 59808
406.532.9200 | 888.735.SOLD (7653)
Fax: 406.532.9330

Website: www.lambrosera.com

June 3, 2014 · by Gabrielle · Commercial Real Estate, Real Estate, Uncategorized

Lambros ERA would like to congratulate Cole Bergquist, Ed Coffman, Jeanie Deetz, Cheryl Smith and Cora Gilmore Nelson on earning Top Producer for the month of May! Visit any of our offices in western Montana for the most professional and knowledgeable real estate agents in the business.

May 28, 2014 · by Gabrielle · Real Estate, Uncategorized

 

Buying a home for the first time can be an overwhelming process. Not only is this probably the largest purchase you’ve ever made, you also want your decision to be a good one. Hopefully, these home buyer tips will help you move forward in your dream of home ownership.

1. Understand the costs associated with buying a home. It’s easy to think that buying a home is as simple as having a down payment saved and getting approved for a mortgage. However, there are costs that many first time home buyers don’t consider. There are a number of fees involved throughout the process, such as closing costs, inspections, appraisals, taxes, etc. Some of these costs will be able to be rolled up in the loan amount but not all. A professional Realtor will be able to give you a good faith estimate about all the costs involved.
2. Save for a down payment.  A typical FHA loan, which is the loan most first time home buyers get, will require a minimum of 3.5% of the purchase price as a down payment. However, there are many benefits to having a larger down payment ready. The more you can afford to put down, the better your offer will look to sellers. You will also pay your lender less interest over the lifetime of the loan. If you have 20% to put down, you will be able to waive the home insurance your lender will otherwise require.
3. Get pre-approved for a loan. Go through the pre-approval (not pre-qualification) process before even looking at homes. By getting pre-approved you will have a good idea of your price-range and it will allow you to make an offer quickly should you find the perfect home.
4. Visit multiple lenders. You’ve already gotten together all the documents and information needed to get approved for a home loan, so why not visit a few lenders and get the best deal possible? Visiting multiple lenders can save you hundreds of dollars per month on your loan!
5. Know what you want. We suggest taking the time to sit down and make a list of your must-haves and wants before you start searching. Some factors to consider are what areas you’d like to live in, how much room you need, how much yard do you want, etc.
6. Choose the right agent. Buying a house for the first time is a big decision – speak to a few agents before deciding who you want to represent you. It’s important to find someone you connect with and trust. As a buyer, you want a Realtor who will represent your best interests throughout the entire process.
7. Get a good home inspector. Home inspections are an important part of the buying process. Your Realtor will be able to recommend a few good inspectors. A thorough home inspection may bring to light items that need repair. Not only can this be used to your advantage when negotiating to get you the best possible price, it will also help you avoid buying a home that has problems you are not ready to take on.

Lambros ERA has many reputable, professional agents to help you navigate this process:

Lambros ERA Real Estate
3011 American Way | Missoula, MT 59808
406.532.9200 | 888.735.SOLD (7653)
Fax: 406.532.9330

Website: www.lambrosera.com

May 20, 2014 · by eraw5330 · Commercial Real Estate, Community, Real Estate

Multifamily commercial real estate in Missoula MT

NREI’s Special Multifamily Report Shows the Sector Will Shine Well into the Future.

During the Great Recession, the multifamily sector was the silver lining of the very large, dark cloud that was looming over the commercial real estate industry. When the single-housing market’s bubble burst, rental housing units immediately became in demand, and thanks to the economy’s gradual recovery and the arrival of the Millennial generation, who eschew single-housing in favor of renting in urban live/work/play neighborhoods, multifamily housing has continued to impress investors.

Initially, back when the housing crisis began, it was the government, via Fannie Mae and Freddie Mac, that helped to keep the multifamily market alive, but gradually over the years, lenders took notice of the fact that multifamily was not only surviving but was actually thriving. As a result, capital is once again flowing freely within the sector.  And while occupancy rates and rental prices have risen, the pipeline of new housing has been lacking, so vacancy rates have dropped to all-time lows in many parts of the country.

Click here to read more…

Missoula MT Commercial Real Estate Department
May 20, 2014 · by Gabrielle · Real Estate, Uncategorized

By Amy Hoak, MarketWatch


Prices of homes are expected to tick up again this year, and mortgage rates are due to creep up too.   And that’s on top of the increases already experienced over the past year.

A median-priced, three-bedroom home bought in the fourth quarter of 2013 costs a homeowner 21% more per month, compared to one bought a year before, according to an analysis by RealtyTrac, a housing data provider.  That monthly cost includes mortgage payments, insurance, taxes, and maintenance and factors in the estimated income-tax benefit.

“There’s no doubt about how affordability has been affected here in the past year or so,”  said Loren Haley, a Redfin agent in Silicon Valley.  ”Prices have been driven up so quickly and intensely; there are a lot more buyers in the market than there is inventory.”

Despite a more competitive market, it’s important that buyers keep a sense of perspective.  If your goal is to move into a new home this year, there are things you can do to position yourself to get the best deal possible – even if bargains are becoming rarer.

“It’s not fair to say it’s a huge shock…we’re still well above normal levels of affordability,” said Mark Fleming, chief economist for CoreLogic, a provider of consumer, financial, and property information.

The National Association of Realtor’s national Affordability Index dropped to 175.8 in 2013, from 196.5 in 2012.  For comparison’s sake, the index reading was 107.6 in 2006 around the peak of the housing bubble.  The higher the number, the more affordable the market.  The index is based on the relationship between median home prices, median family incomes, and the average mortgage interest rate.

While prices are expected to rise, early indications suggest that the increases won’t be quite as steep as last year.  Although mortgage rates are also expected to increase, their rise so far has been somewhat gradual.  The 30-year fixed-rate mortgage averaged 4.3% in February.

Fleming also points out that if you already own a home and plan to sell it to finance a new one, you’ll see even less of an impact on affordability.  While the price of the home you’re buying will be more expensive than last year, you’ll be able to sell your home for more too.

Most importantly, remember that every market is different.  Yes, inventory shortages are widespread but shopping in the red-hot silicon valley market is different than shopping in Chicago.  While finding a home may be a challenge when inventory is tight, the more attractive of a buyer you are, the more negotiation chips you have with the seller.

Click here for six tips to help you get the best possible deal when purchasing a new home.

LAMBROS REAL ESTATE ERA TOP SEARCHES

Show me Real Estate in:

Missoula | Hamilton | Polson | Libby | Kalispell | Florence | Deer Lodge | Columbia Falls

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