Exquisite Downtown Home!

Looking for fabulous and affordability in historic Downtown Bozeman?

• Best location in Downtown -- 2 blocks to Main St., Library, Peet's Hill, Bogert Park, Lindley Park
• Incredible living room with dining area

• Completely remodeled bathroom with all new electric and plumbing, insulation, heater, new window, all tile, dual flushing water conserving toilet

• Functional no-maintenance kitchen with plenty of morning sun, range, dishwasher, refrigerator included

• Wonderfully private landscaped yard
• Absolutely stunning price -- $249,000

Visit this home this Sunday, August 3rd from 1:00 to 4:00 p.m. for an open house! You won't be disappointed!

For complete details visit my website.

Real Estate as an Asset

I am reading Rich Dad, Poor Dad and have found it very enlightening.

I have been going through refinancing of my house for some time now with little success due to the new lending guidelines and therefore have found my house to be more of a liability. As a real estate agent I have long advocated a personal residence as an asset, which in the book is clearly described as a liability.

I am left to reflect on just how my real estate -- my house -- can become an asset and have come to the following conclusion:

For a personal residence to become an asset, the monthly mortgage payment cannot exceed what the house can be rented for in any given month.

For example if you house has a rental value of $1,000/month then the mortgage should be no more than $1,000 per month.

Of course this does not actually make your house an asset because it is not paying you $1,000 per month. I'm not advocating that everyone should own a multi-unit home where the rental portion pays all of the rent. Homes are an emotional purchase and a place in which most folks find peace. What I am advocating is that if the poop hits the fan, be able to rent your house for the full mortgage to get back on your feet -- and for some this may mean camping in the meantime!

Other options for turning your house into an asset include leasing out storage space if you have a large lot or multi-car garage, convert a portion of your house or garage into office space and lease that (check zoning), or grow marketable produce and/or flowers and sell them. Just a few ideas off the cuff!

If you do plan to refinance, call Jason McHann at Clear Horizon Financial Services at 406.579.3660.

Buying is consistent with May 2007

Prices have held steady over April with a 36% increase in the number of sold units and a 65% increase in pending sales. This is good news for both buyers and sellers. For buyers -- prices are holding. For sellers -- there are more house hunters out there.

My crystal ball reads that prices will hold steady through the end of this year with pockets of appreciation and depreciation throughout the valley. Buying will pick up, however, absorption will rise only slightly due to increased inventory.

As an addendum -- 40 houses sold in May 2007. Not all data has been reported yet for May 2008 so it is very likely we will hit that number this year as well.

If you are in the market to buy real estate don't wait.

Data was obtained June 3, 2008. Data will change as more listings are closed out of the system. Data is obtained by the SW MT MLS

Open House Bonanza in Churchill

Don't miss this Sunday from 1 to 3 p.m. in Churchill, MT.

Featuring seven great homes, food, drinks, prizes, and giveaways!

View my listing online and then come see for yourself why

Churchill offers some of the most serene beauty in Montana.

http://www.7045skylark.com

Beautiful Churchill Home For Sale

www.7045Skylark.com

Welcome home!

From the living room enjoy Bridger views out your large front windows.

Dining as a family or with friends is easy and conversational in this highly functional kitchen creating a very social atmosphere that can include and accommodate all your guests.

In the fully finished daylight basement,

enjoy games or family gatherings in this large den full of natural light.

Home features:

2900 sf home on approximately 1/4 acre

adjacent to a farm and neighborhood park

3 bedrooms, 3 bathrooms

Craft and/or hobby room

Media room

Large living room

Large den

Exercise room or room to do with what you wish

Laundry room

Oversize garage with "secret" room that can be used for fly-tying, workshop

Fully landscaped yard with pond

Back all-weather deck

Front covered porch

Imagine sitting on your deck at your new house watching this sunset...nice.

visit www.7045Skylark.com for more information.

e-mail Connie@BozemanMontanaProperties.com for a showing or

call toll free today 866-647-5268

New Listing Open This Sunday ~ www.2402Westridge.com

www.2402Westridge.com

2402 Westridge in Bozeman is open and it's charming!

Rancher with cedar and river rock siding features 3 bedrooms, 1 bath, large living room, kitchen, dining area, and laundry. You'll enjoy countless summer hours in the very private fully fenced backyard on the large deck. New paint and flooring create the "just add your furniture" pleasantry of moving right in.

Excelletnt south side location right across the street from a Main to the Mountains trailhead, minutes walk from MSU, Museum of the Rockies, and short bike ride -- all on trails -- to downtown Bozeman.

Located in Morning Star and Sacajawea school districts.

Open Sunday, May 18th from 2 p.m. to 4 p.m. I hope to see you there!

Finding an up and coming neighborhood

I recently read an excerpt from a new book authored by one of my favorite real estate tycoons, Barbara Corcoran. Barbara Corcoran founded The Corcoran Group on a $1,000 in New York City. It is likely the most successful real estate company in New York.

She suggests following the tips below for finding up and coming neighborhoods. While these efforts apply very nicely to large cities, such as New York, Chicago, Atlanta, modifications to each do apply to small town Montana.

• Check out a new neighborhood when the sun goes down. Do you feel safe? Are there young people? Look for new nightclubs, restaurants, and bars. Are there lines forming to get inside? These are all good signs according to Corcoran.
• When touring a new neighborhood during the day, look for folks sitting on park benches, feeding ducks or pigeons, walking through the neighborhood.

Corcoran suggests that the stages of a neighborhood begin with young folks moving in because of affordable rent or purchase prices. Following shortly are nightclubs, bars, and restaurants, followed shortly by retail shops and offices. Eventually the neighborhood becomes trendy and people with more money can't wait to buy something in the area and are willing to spend money to do so.

This phenomenon in action can be seen in Bozeman's historic northeast neighborhood. When I moved to Bozeman 4 years ago, my Realtor told me that the "northeast side is where the working people live". Well, since I was a "working people" I fit right in and bought a little house on Plum. A lot of people bought in the northeast at that time because of its affordability. Shortly after that, the Mill St. District was created, an Italian bakery moved in, the Village Downtown sprouted up to the east, and the area became a hotbed for those willing to spend money to live there. Little old "working class" houses were purchased for $300,000 and more, torn down, and rebuilt. A short drive on Plum Avenue proves just that with 3 very large houses surrounding my old 1 bedroom yellow shack.

So where's the next hotbed? Apply Corcorans methods. Look for affordability and accessibility first, such as downtown Livingston and places in Helena. Look for signs of revitalization. Livingston is full of this with the new Town & Country and proposal for a new hospital. In fact the new hospital location will sandwich downtown and the historic east side of Livingston -- the affordable "working people" side. Drive around, better yet, ride a bike during the day and evening and check out the people.

Other places in and around Bozeman I would watch include newer subdivisions popping up on Huffine or Jackrabbit, near schools. Look for starter neighborhoods, such as West Winds Subdivision off 19th, for investment opportunities.

If your Realtor ever says to you "working people" be sure to thank that Realtor. Their ignorance could make you a bundle and provide you with a great place to live!