real estate: Happy Thanks giving - 11/22/12 07:54 AM
Just want to  wish everyone a happy thanks giving day
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real estate: Market update at a glance October 2012 - 11/07/12 08:38 AM
Market up date at Glance through October 2012
Solid gains in price movement, closed sales, pending sales and reduction in inventory. So as I look at the numbers below the question comes to mind has the mix of sales affected the sales price and if so why. The short answer is yes it becomes most self-evident if you look at the size of selling this year 1st going back to 2008 houses sold are  7.89% bigger yet you are only paying  4.79% more in grossing selling price . If you look at payment with interest rate in 2008 the average sales … (0 comments)

real estate: new home constuction Billings Montana - 11/01/12 08:07 AM
AS THE ECONOMIC CYCLE CHANGES, THE QUESTION COMES TO MIND, HOW  ARE WE DOING AS COMPARED TO PAST YEARS PERFORMANCE , HOW FAR CAN  HOME SALES AND RESIDENTIAL BUILDING RUN
Since 2006 which was the peak in residential sales and 2003 was the peak in permits for new construction we have been in a wild ride, first a market driven by first time buyers tax credits 2009, then a market driven by a tax credit to anyone that bought a home 2010 and now a market driven by historically unheard of interest rates the low 3’s for 30 year and … (1 comments)

real estate: home purchaser rise? - 10/30/12 05:58 AM
Lending institutions are require to report activity under “HMDA” this does not of course cover all activity within the market place, yet produces some interesting information to ponder
2005  you had 11,672,852 loan applications  versus 7,382,012 loans received
or a  63% success rate for completing a loan
2011 you had 3,816,222 loan applications  versus 2,416,874 loans received
or a  63% success rate for completing a loan
From 2005 to 2011 you have a drop of 67.3% in loan applications and a 67.25% drop in loans received
Using the information from Data Quick that shows home sales in … (0 comments)

real estate: price of a home since 2000 yellowstone county - 10/27/12 11:06 AM
 
I asked myself since the year 2000, twelve years ago, does it cost more to buy a home now in Yellowstone County. Several things influence the answer to that question, the absolute price of the home, the taxes and insurance, the interest rate, and inflation since that time and wages.  I went back and took the median sales price of each year, assumed 100% financing at the Freddie mac rate for that year, and then used 30% of the payment to approximate the yearly taxes and insurance. Below are the graphic results and the main numbers.
Consumer price index                     … (0 comments)

real estate: ownership vs renter spending patterns - 10/26/12 02:51 PM
intersting information from the labor bueara comparing the spending patterns of owenrs and renters

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real estate: 1336 Concord Drive, Billings MT 59101 - 10/15/12 06:42 AM
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real estate: 623 Avenue B, Billings MT 59102 - 10/07/12 09:43 AM
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real estate: Market up date at glance august 2012 - 09/11/12 04:38 AM
Market at a glance august 2012
We are now two thirds through the year and the good numbers continue to roll through the housing market here in Yellowstone Count, Inventory lower by 34%, pending sales up by 48%, closed sales up by 21%, new home permits up 77% all outstanding performance for the residential market. The driver for most of this outstanding performance comes from three things interest rate and jobs and population growth.   First let’s talk about interest rates, the Federal Reserve through their “operation twist”, selling short term bonds and buying mortgages, has managed to drive interest rates to … (0 comments)

real estate: 41 Clark Avenue, Billings MT 59102 - 09/01/12 05:55 AM
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real estate: 2952 Rosebud Drive, Billings MT 59102 - 08/25/12 04:06 PM
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real estate: NEW CONSTUCTION PERMITS, STARTS AND SALES NATIONALLY - 08/24/12 05:34 AM
GOOD NEWS IS GREAT, UNDERSTANDING IS BETTER,
HERE WE ARE THROUGH JULY AND THE NUMBERS YEAR OVER  REMAIN  IMPRESSIVE ON RESIDENTIAL BUILDING. THAT IS, IF YOU DID NOT LOOK AT THE HISTORICAL PERSPECTIVE. IN ANY INDUSTRY, THAT SIX YEARS FROM THE LAST PEAK, WAS STILL RUNNING 63 TO 71% LESS THAN THE PEAK AND 41 TO 52% OFF THE FIFTY YEAR AVERAGES, NO ONE WOULD EVER BE DESCRIBING THAT INDUSTRY AS RECOVERING. JUST ASK YOU SELF WHAT WOULD OTHER INDUSTRIES LOOK LIKE IF THEY WERE STILL OPERATING AT THOSE LEVELS? THE STOCK MARKET IN THOSE TERM,  THE DOW WOULD RANGE … (1 comments)

real estate: 128 Monroe Street, Billings MT - 08/23/12 05:44 AM
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real estate: 1712 South Road 8, Huntley MT 59037 - 08/17/12 04:52 AM
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real estate: 247 Aristocrat Drive, Billings MT 59105 - 08/16/12 06:05 AM
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real estate: 83 Antelope Trail West, Billings MT 59105 - 08/15/12 04:42 AM
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real estate: 3803 Palisades Park Drive, Billings MT 59102 - 08/12/12 06:19 AM
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real estate: Market Upadte at a glance july 2012 - 08/11/12 07:47 AM
 
Market update at glance July 31st 2012
 
Dichotomy of the market place ----- my best description for our market so far this year.
 
The positive numbers in all categories at the end of July can only be described in superlatives,  closed sales up 18%, pending sales up 43%, inventory down 34%, time on market down 14%, single family permits issued by the City of Billings up 77%, number of rental available down 17%,  interest rate on a 30 year fixed rate 3.55% down 21.9% from a year ago, monthly payment to purchase the average priced home in Yellowstone  … (1 comments)

real estate: 3254 Granger Avenue East #G6, Billings MT 59102 - 08/10/12 05:10 AM
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real estate: new home sales 1st 6 months - 07/27/12 05:19 AM
Here is a perspective graph comparing the 1st  6 months new home sales throughout the kept history.
Recovery !!!!!!!!!!!!! You betcha ya, not quite back to worst period ever before the in the 1st  6 months of the year 1982, and that is seven years from the last peak
 


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Howard Sumner, Your Real Estate Source, Your Results Solution!! (Howard Sumner Real Estate) Rainmaker large

Howard Sumner

Your Real Estate Source, Your Results Solution!!

Billings, MT

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Howard Sumner Real Estate

Address: 404 north 31st street, suite 130, billings, mt, 59101

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