Real Estate in Montana

Tax Credit Still in Effect for Military Personnel

Matthew — Thu, 20 May 2010 13:40:41 +0000

Although the home buyer tax credit has expired for buyers signing contracts after April 30, the credit remains in effect an additional year for military personnel and foreign service employees deployed overseas for 90 days or more between January 1, 2009, and April 30, 2010. They can still claim the credit if they sign a contract on or before April 30, 2011, and close on or before June 30, 2011.

HAFA – What is it? How can it help me?

Matthew — Wed, 21 Apr 2010 14:37:19 +0000

The new HAFA program went into effect on April 5, 2010. It is intended to help home owners who are or could be going into the foreclosure process. I am CDPE (Certified Distressed Property Expert) certified and here to help you through your difficult time regarding real estate. To understand more clearly HAFA, foreclosures, Short Sales, etc. please watch the following video.

http://www.youtube.com/watch?v=8TXx8rKy-Ow

Always here to help you!

Matthew Hohnberger

Re/Max Mountain View

406-212-3600 cell

Treasury Announces New Short Sale Process – GREAT NEWS!

Matthew — Thu, 03 Dec 2009 19:23:21 +0000

Finally a plan that I believe will really WORK! The U.S. Treasury Department on Monday released a plan to speed up and encourage Short Sales as a means to help families avoid foreclosure. We’ve been offering Short Sale proposals to public officials for over a year, and although the new guidelines aren’t everything we were hoping for, they do represent a significant improvement over the current situation.

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days! Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

This is one of the best steps in helping home owners I have seen yet! Here is a quick outline of the plan. To view in detail please see one of the two links below – longer or shorter version depending on your preference.

1. $1,500 to borrowers from the government for selling by short sale

2. $1,000 to Mortgage servicing company for each completed short sale

3. $3,000 of the sale proceeds to 2^nd lien holders in exchange for releasing their liens

4. $1,000 to 1^st lien holder for allowing $3,000 payments to 2^nd lien holders

5. Borrowers who complete a short sale under the program must be “fully released” from future liability for the debt!
Reuters news story – Long Version

http://news.yahoo.com/s/nm/20091130/bs_nm/us_treasury_shortsales

Wall Street Journal – Shorter Version

http://online.wsj.com/article_email/SB125963239592170665-lMyQjAxMDI5NTA5MTYwMzEyWj.html

Flathead County Market Stats

Matthew — Thu, 17 Sep 2009 21:46:00 +0000

It has been a busy three months. I am finally getting back to posting. Here are some sobering figures to help us understand how much the Flathead Valley real estate market has changed. I must thank Kelley Appraisal for compiling this data. The following figures are the volume / units of Residential sales in Flathead County.

Jan – Jul ‘05 945

Jan – Jul ‘06 1053

Jan – Jul ‘07 814

Jan – Jul ‘08 593

Jan – Jul ‘09 426

Percentage of change is -56.7%!

Now for Land Residential Sales in volume / units.

Jan – Jul ‘05 686

Jan – Jul’06 522

Jan – Jul’07 333

Jan – Jul’08 201

Jan – Jul’09 70

Percentage of change is -77.4%!

Even in a bad market a good agent can sell property. The two main keys I have found this year are 1) Win the beauty contest and 2) Win the price war! These two issues will bring the showings which in turn bring the offers. The hard part is knowing what price wins the war when the market is still moving.

Work aggressively to find the winning price and then good, hard, persevering work on the part of the agent can bring about a sale. And believe me the old attributes of a good agent – persistence & hard work combined with knowledge and expertise – are now back in full swing. The old days of easy offers and sales, even on overpriced listings, are gone.

Matthew Hohnberger

Re/Max Mountain View

Cell 406-212-3600

matthew@matthewhohnberger.com

North Fork Montana update

Matthew — Mon, 18 May 2009 16:32:08 +0000

Rocky Bar O' Ranch Elk

I drove up the North Fork today to show property and check out two possible new listings. As I drove through the Rocky Bar O Ranch the elk where enjoying the new spring grass. Spring has finally arrived to the North Fork! It sure has been a long one with unusual winter blizzards.

The real estate market in the Polebridge area has slowed down but at present the prices have not dropped like the rest of the Flathead Valley. What has changed is the time to sell a listing has increased even if it is priced at market value. From my experience I believe the time to sell property in the North Fork will go back to what it was like 5 to 6 years ago. I believe 2009 will show us pretty clearly where we are.

Matthew Hohnberger

Re/Max Mountain View

406-212-3600 cell

matthew@matthewhohnberger.com