Western Montana & Missoula Real Estate Blog & Area Information

Missoula Real Estate Foreclosure Auction - 6 Bedroom House, Starting Bid $50,000

BUYER ACKNOWLEDGES THAT SELLER WILL RE-KEY THE EXTERIOR DOORS TO THE PROPERTY PRIOR TO CLOSING AND FUNDING AT THE BUYER'S EXPENSE TO BE PAID AT CLOSING. REGARDLESS OF LOCAL CUSTOM, THE BUYER UNDERSTANDS AND AGREES THAT THE SELLER WILL PAY FOR THE OWNER'S TITLE POLICY AND LENDER'S TITLE POLICY (IF ANY) AND THAT THE BUYER WILL PAY ALL OTHER CLOSING/TRANSFER COSTS INCLUDING SURVEY, ESCROW, ALL CLOSING FEES, AND ALL REALTY TRANSFER TAXES. Please contact for full terms from the auction house.

Missoula Real Estate: Tips for Buying Bare Land & Recreational Properties in Beautiful Western Montana

Are you thinking about buying a piece of bare land in Western Montana? Maybe a recreational property or a future homesite? If so, you will want to do your research. Here a few things for you to consider before you buy:

1.) Property Boundaries - are the property boundaries clearly marked? If not, you may want to require that they be marked by the seller during your due diligence period so you are clear on where they are.

2.) Survey - is there a formal survey for the property? Believe it or not, there are still many properties in Montana that do not have a formal survey and that use a "Metes and Bounds" approach. It is important to know what you are getting.

3.) Easements or Right of Ways - determine if there are any easements on the property. This should be available through the initial title report for the property.

4.) Water & Mineral Rights - do all of the water and mineral rights transfer with the property? If there is a creek running through the land, are you able to use that water.

5.) Access - how is the access to the property? Is the property accessible all year? Are the roads maintained? If so, who maintains them. Also, is the access road a County Road or a Forest Service Road? If the road is a forest service road, there may be a concern from your lender.

6.) Power - how close is power to the property? The cost to bring power to a property can be prohibitive in many areas. There are still a lot of mountain properties that are "off the grid" so don't assume that power is available.

7.) Wells - how deep are wells in the area? Are there existing wells on the property? Many loans require that the well has at least 5 gallons per minute. In our area, it costs approximately $34 per square foot to dig a well and approximately $2,500 for the pump and installation. When you could be talking about 100's of feet for a well, this can get expensive. For more information about Wells, read our blog post about 10 Things to Look For When Buying a Property with a Private Well.

8.) Septic System - has the land been approved for a septic system? What types of systems are required for the area? Systems in our area run between approx. $3,200 and $4,500 and the cost varies by the type of system that is required.

9.) Covenants - Not all properties have covenants but a fair number of even rural properties have covenants now. Make sure you read the details as to what is allowed and what is not to ensure that you can use the property as you intend at the time of purchase.

10.) Flood Plain - Is the property in a flood plain, even a 100-year flood plain? Many riverfront properties are categorized as being in a flood plain, even if they are on a mountain. Find out for sure if your property is categorized this way. Properties on a flood plain may have a higher insurance premium and may have difficulty getting septic approval.

Lastly, work with a good local Buyer's Agent who knows the area and understands and has experience in bare land. If you are looking for Land in Western Montana, contact Kevin & Monica Ray at Access Realty. We'll help you find the property of your dreams! Call us at 406-207-1185 or visit us online at www.YourMT.com.

Here's a great explanation about the New Good Faith Estimates you will receive when you apply for a mortgage.

Missoula Real Estate Market Stats for December 2009 for Zip Code 59808

Missoula’s 59808 zip code continues to struggle.  While it has, by far, the most sales of all areas of Missoula, its numbers for 2009 were significantly below those of 2008.  2009 finished almost 5% below last year in the number of homes sold, well over 12% below last year in total value of homes sold and more than 8% below last year in average sales price.

At the end of December 2009, there were 182 homes for sale in Missoula’s 59808 zip code with an average list price of almost $319,000. Homes for sale in Missoula’s 59808 zip code, range from $68,000 to $1,800,000.

View Real Estate Market Reports for all of Missoula Montana

Missoula Real Estate Market Stats for December 2009 for Zip Code 59804

Missoula’s 59804 zip code was one of the top three best performing areas in Missoula so far as the number of homes sold, the total value of those homes and the average sales price of homes.  So it can be argued that 59804 was Missoula Montana’s best performing zip code.  One of 3 zip code which actually outperformed 2008 in many aspects.

At the end of December 2009, there were 61 homes for sale in Missoula’s 59804 zip code with an average list price of just over $548,000, this number is inflated due to some very high priced homes. Homes for sale in Missoula’s 59804 zip code, range from $119,900 to $5,850,000.

View Real Estate Market Reports for all of Missoula Montana

Missoula Real Estate Market Stats for December 2009 for Zip Code 59803

Missoula’s 59803 zip code was by far, the best performing zip code in Missoula, with both the total number of homes sold and the total combined value of those homes in 2009 exceeding the numbers for 2008.  2009 saw 168 homes sold as opposed to 148 homes sold in 2008.

At the end of December 2009, there were 99 homes for sale in Missoula’s 59803 zip code with an average list price of just over $397,000. Homes for sale in Missoula

View Real Estate Market Reports for all of Missoula Montana’s 59803 zip code, range from $119,500 to $1,500,000.

Missoula Real Estate Market Stats for December 2009 for Zip Code 59802

Missoula’s 59802 zip code has been one of the best performing areas in Missoula so far as the number of homes sold. With the exception of only a minor slide in May and June of 2009, this area stayed strong and showed sales numbers very close to last year, in fact 2009 met or exceeded 2008 in six of twelve months in sales volume. Believe it or not, 2009 ended with 2 mores homes sold than in 2008!!

At the end of December 2009, there were 152 homes for sale in Missoula’s 59802 zip code with an average list price of just over $325,000. Homes for sale in Missoula’s 59802 zip code, range from $99,500 to $997,500.

View Real Estate Market Reports for all of Missoula Montana

Missoula Real Estate Market Stats for December 2009 for Zip Code 59801

For three months in a row now, Missoula’s 59801 zip code has either met or exceeded 2008 number of homes sold.  After a rough start this year, 59801 came back pretty strong at the end and finished up about 10.25% under 2008 in number of homes sold and considerably worse, about 15.26% under 2008 in total value of homes sold for the year.

At the end of December 2009, there were 184 homes for sale in Missoula’s 59801 zip code with an average list price of just over $260,000.  Homes for sale in Missoula’s 59801 zip code, range from $97,000 to $964,000.

View Real Estate Market Reports for all of Missoula Montana

The Extended First Time Homebuyer & Move Up Buyer Tax Credit for Missoula Real Estate

Here's a cute video about the Extended First-Time Home Buyer Tax Credit and Move Up Buyer Tax Credit that is available to individuals who buy a primary residence by April 30, 2010.

Follow the adventures of Bob and Sally as the learn about the now extended Home Buyer Tax Credit worth up to $8000 for first time buyers and $6500 for existing home owners. It was published by Washington Homeowners.

Here are some additional articles on the topic:

Move-up Buyers & First Time Home Buyer Tax Credit Questions & Answers for Missoula Homebuyers

The New and Improved Home Buyer Tax Credit for Missoula Buyers & FirstTime Homebuyers

Missoula Real Estate Home Buyer Information

Tax Credit Information

Contact Kevin and Monica Ray today for assistance in finding your first home or to move up into a new home at 406-207-1185.

Some great myths of home staging, although I do think that smell is very important on a home, and a welcoming aroma is appealing to buyers.