Special offer

Helena, MT Real Estate News

By Jeff Boyer
(First Community Bank)
Good morning all!  Here we are in the first weeks of summer for 2009.  Things have been very busy here in Helena, Montana as far as real estate lending is concerned.  We have been going gangbusters with refinancing over the past couple of months.  Now that interest rates have crept up, we have begun to see the slow down. Interest rates were at 4.50%....the lowest I have ever seen them but now they are at 5.25%.  5.25% is still a very good rate compared to what they have been in the past 25 years.  Have applications slowed down becuase of interest rates rising or has it slowed down because everyone that has the opportunity to refinance has already done so? With the increased pricing on 10 year bonds, the yield has come down slowly therefore reducing the mortgage interest rates.  Unemploy...
Comments 0
By Jeff Boyer
(First Community Bank)
Good morning all!  Just a quick update on HB645.  Governor Scweitzer passed HB645 last Friday but vetoed parts of it.  Most importantly for first time homebuyers....the Governor vetoed the bridge loan portion of the bill that would let first time homebuyers use their $8,000 tax credit right away. The following is a letter from the Governor to the Secretary of State.  The whole letter is not shown here but is talking about the housing portion of HB645. "Welcome Home Loan Proqram, $2 million state special revenue (page A-3;sections 60 and 61, pages 49 and 50): While the language establishing this newprogram would lead the undiscerning reader to believe its purpose was to assist, first-time home buyers, the program actually is set up to protect financial lenders by shifting the risk of cer...
Comments 0
By Jeff Boyer
(First Community Bank)
Good morning all!  Just a quick update on the House Bill 645 that the legislature brought to the governor's desk.  HB645 deals with the stimulus money from the federal government.  In that bill is $2 million to be allocated for first time homebuyers to use $5,000 of their $8,000 tax credit as a bridge loan to get into a house, whether it be for down payment or closing costs.  The governor has the bill sitting on his desk to sign this week.  He has until the 15th to sign it or veto it.  Will keep you informed.  Thanks!
Comments 0
By Peg Potter
(Prudential Montana Real Estate)
HELENA, Mont. (AP) -- United Express made its first flight to Helena from Denver on Thursday - marking the beginning of daily service between the two cities. The addition of the flight provides Helena with daily service to four hubs - Seattle, Minneapolis and Salt Lake City are the others - and gives local travelers better access to the East Coast through Denver International Airport. "I've waited all these years to get in here," said Paula McKinnon Kuberski, a United flight attendant and Helena native. The service was made possible by a matching fund that helped secure a Small Community Air Service Grant from the Department of Transportation. Daily flights are expected to leave Helena for Denver at 6:42 a.m. and 4:06 p.m., with flights arriving from Denver at 3:40 p.m. and 11:56 p.m. T...
Comments 1
By Mike Casey
(Trimac Group)
Year New Listings % Change SOLD % Change Sold % of Listings Average Price of Sales % Change Sold @ % of Listing Price Median/ Middle Price of Sales % Change Avg. Days on Market % Change MLS Manual Spreadsheet                     2000 1138   713   63% $123,546         89   2001 1388 22% 822 15% 59% $128,284 4%       129 45% 2002 1261 -9% 839 2% 67% $119,250 -7% 95% $124,450   131 2% 2003 1370 9% 903 8% 66% $142,878 20% 95% $130,000 4% 126 -4% 2004 1484 8% 1039 15% 70% $154,691 8% 95% $138,500 7% 118 -6% 2005 1544 4% 1212 17% 78% $180,336 17% 96% $159,250 15% 104 -12% 2006 (-9/06) 1401   841   60% $202,004 12% 98% $189,000 19% 102 -2%         Average  % Increase since 2000 - 39%   Median Increase 34% since 2002  
Comments 1
Helena, MT Real Estate Professionals