Billings Montana Real Estate Market

Billings Montana Real Estate Market

There is a lot of information in newspapers and in the media about real estate.  Most of this information is about real estate nationwide and does not focus on specific markets, unless it’s a very large market.  There are only a few good sources in Billings Montana about what is really going on in the market.   For up to date information the Billings Association of Realtors is a good source, local real estate experts, or just doing hours of research yourself.

First off no one should be watching the news to get information about real estate.  The news media puts a negative spin on everything and gets buyers, sellers, investors and realtors nervous.  There is not really a nation real estate market because every city, town and even neighborhood is different.  Different real estate markets are affected differently because of employers in the area, economic conditions, natural disasters, and so on.  When you are looking to buy and sell always pay attention to what is going on in Billings Montana or your local area.

As a buyer and seller you should pay attention to the local trends.   How much real estate is available on the market, what is selling, what is not selling?  Right now the local Billings Market is flooded with homes on the market.  Is this a good thing or a bad thing?  It is tough to say if it’s good or bad.  It could mean several things for buyers and sellers.  It could mean that there are more sellers in the market right now than there are buyers and prices could be falling in the near future.  Or it could mean that sellers have realized that there are a lot of people looking to buy houses so they have decided to list their property for sale and see if they can make some money.

Now is a good time to buy.  The housing inventory levels in Billings Montana are high.  And interest rates are low but may be on the rise in the near future.  Buyers with good credit and stable income should have no problem getting approved for a mortgage.  This means that a lot of first time buyers should be out looking for some amazing starter homes on the market.  Even if you do not have the good credit required to qualify you for a loan, there are several programs available out there that can help you out.   Contact lenders, Billings Real Estate Association to get information on these programs.

Now a word of caution for home sellers in the Billings Montana market.  If you are trying to sell your home and take advantage of all the buyers on the market, make sure that your home is up to standards.  Fully painted, new carpet, upgrades, holes in walls fixed, and make the home stand out.

If you do not have the resources to do all of these things then, be prepared to take a discount on what you and your realtor think that you home is worth.  Buyers have a lot of options out there and don’t want to pay for a house that needs to be fixed up.  If you don’t want to do the necessary and just want to get rid of the property contact Big Sky Property Solutions LLC, Click Here.  They are the best residential redevelopment company and specialize fixing up homes for sale.