Mortgage rates in the United States have dropped to their lowest levels since the 1940s, and homebuyers in Seeley Lake should be taking advantage.  Historically, it is highly unusual for mortgage money to be available below 5 percent.  In the 1940s, average rates fell as low as 4.7 percent, as the government held down interest rates to finance World War II.  They stayed just below 5 percent until the early 1950s, then rose above that mark in 1952 - and stayed there.  Until recently.

The Federal Reserve program has driven rates to historically low levels.  This has involved buying $1.25 trillion in mortgage-backed securities, and is scheduled to expire in March - Fed leaders have said that it would not be renewed.  As a result, some analysts believe rates could jump as high as 6 percent in the spring.

I also believe that interest rates may be rising soon and urge you to consider the difference between an interest rate increase vs. a drop in property price.  For example, in Seeley Lake, let’s assume the average sale is $250,000.  With a 5% down payment at 5% interest on a 30 year fixed loan, your monthly principal and interest (P & I) payment would be $1275.  If rates rise to 7%, your payment increases to $1580 a month.

As a buyer, you may be on the fence because you think that prices may drop further and you can secure a lower monthly mortgage payment.  I do expect our market to drop again this spring as sales pick up, however, a rise in interest rates demands our consideration.  Think about this - if there is a 10% decrease in price so that the $250,000 home falls to $225,000, but you wait to purchase and the interest rate rises to 7%, your payment will be $1422 a month.  You then end up spending more money per month, and at a higher interest rate, thereby spending more money over the life of the loan.

Real estate appreciation is always a cycle, and as the economy stabilizes, values will level out.  Making a home purchase is a decision that should be weighed carefully and has different considerations for each individual homebuyer, but right now is definitely a great time to buy a vacation property or second home in Seeley Lake.  Not only will you gain a retreat for family and friends, you’ll be making a great investment!

If you’re ready to take advantage of some great deals and find a house in the Seeley Swan Valley?  Contact me, Kim Koppen, and let me assist you with all of your real estate needs.  I’d love to be your local real estate expert!

Maybe you’ve had your eye on our Seeley Lake area, and have even thought of buying a vacation home here, but were waiting for the right time to buy.  In real estate, timing is important, and you’ve been watching the market trying to judge the right moment to purchase in an unstable economy.  But just what is the right moment?

As an expert in real estate and our area, I believe now is a great time to buy a vacation property in Seeley Lake and the Swan Valley!  Why?  After watching real estate values decline and sales slow down over the past 3 years, sellers are finally realizing that the real estate market will probably not rebound overnight, but may actually continue to decline further when the spring buying season starts up.  Those who are serious about selling their homes are watching the market conditions and pricing their properties to reflect the realities they’re seeing, while serious buyers are getting ready to take advantage of historically low interest rates, an abundance of inventory, and lower prices.

Maybe you’re convinced it is the right time to buy.  You’ve visited the Seeley Lake area in the past and would love to have a place of your own to return to, a vacation home that would enable you to share our gorgeous locale with your loved ones.  So how do you know which properties are the best values?

The most important thing any buyer can do is hire a professional realtor who is an expert in the market.  A realtor can show buyers what properties have sold for recently, how long the property has been on the market, and what the competition looks like for that price range.  Buyers also benefit from an experienced realtor who can show them the trends in the market over the past several years to enable them to make the most educated decision possible.

Are we at the bottom of the market yet in Seeley Lake?  I wish I knew!  I don’t know if anyone will be able to predict when that will happen.  As a professional real estate expert here, I saw a dramatic surge in appreciation in our local market over a 3 year time period (from 2004-2007).  Because of this fast rise, I expect that our market will take several years to work its way back to a more sustainable level.  What I can say with confidence, however, is that it is clearly more affordable to buy a vacation home in Seeley Lake now than it was 3 years ago!

If you are considering buying a home in Seeley Lake or the surrounding area, I’d love to be your local real estate expert!  Give me, Kim Koppen, a call and find out what I can offer you as your realtor.  Let the experts at Great Bear Properties help you achieve your dreams!

Often, in real estate, great emphasis is placed on location, location, location.  Here in gorgeous Seeley Lake we certainly have all the benefits of a beautiful and exciting location.  Location alone, however, is not the only key to real estate; proper pricing is critical.  So, what’s your home pricing IQ?  Here are two important tips to help you price your home for a successful sale:

• Set the price after doing your homework.  Pricing should be based on the value as determined by the Comparative Market Analysis (CMA), which shows what other comparable homes in the area have sold for, how long they were on the market, and how much the property was discounted before it sold.  To successfully sell a home, the sale price must reflect what the market will bear.
• Set the price right from the start.  The goal is always to sell quickly and for as much money as possible.  While many sellers want to set the price high and come down later, the only time they can afford to do this is in a market where prices are rapidly appreciating and inventory is low.  The current scenario in the Seeley Swan Valley (and in much of the nation) is just the opposite; the values have been declining and the inventory is high.  The chart below shows how important timing and smart pricing go together (notice how a new listing generates the most interest in the first few weeks, increasing the chance for a sale).

Pricing your property at market value when it initially comes on the market is the single best pricing strategy - homes that are listed at market value stand out from the competition, especially among all the other overpriced options. And, when the asking price can be supported by the most recent comparable sales, there is no need to “pad” the listing for a negotiating allowance. As a result, the overpriced listings create a real pricing advantage for homes priced at fair market value, increasing their likelihood of a quick sale.

The graph below illustrates the importance of pricing a home well.  It shows that more buyers purchase their properties right at market value than above it, which means that pricing a home to sell at market value exposes it to a much greater percentage of prospective buyers and increases the chance for a sale.

Are you ready to sell your Seeley Lake home, or interested in finding a house in the Seeley Swan Valley?  Contact me, Kim Koppen, and let me assist you with all of your real estate needs.  Together, we can achieve your dreams!

For more than 12 years, I have been selling real estate in the type of place you might recognize from picture post cards.  The Seeley Swan Valley has the “Big Four” of Natural Beauty - forest, lakes, rivers, and mountains - offering year-round recreational opportunities.  Every year, thousands of tourists and part-time residents flock into the area to enjoy camping, fishing, canoeing, hiking, and skiing.

Discovered in 1861 by the Seeley brothers, the Seeley Swan Valley is about 55 miles northeast of Missoula, the second most populous city in Montana.  It lies between the Swan and Mission Mountains and is dominated by small towns such as Seeley Lake, Condon, Ovando, and Potomac - all of which lie along State Route 83 that bisects the valley.  Though the area has plenty to do all year, summer is most popular with tourists, so the town population temporarily swells.  Tourism plays a major part in the economy of the area, and year-round residents ranch the land or work in forestry.

The fluctuating population and the many recreational attractions in the area make an interesting challenge for a real estate agent.  Many potential home buyers want second homes or rental property.  This means that incentives like the first time buyers’ credit have not had much impact here, as most buyers already own elsewhere.  The repeat buyers’ credit has more potential to impact the area, but only if buyers fall in love with this part of Montana, as I did a dozen years ago, and want to become permanent residents.

So how do I approach selling real estate in the Seeley Swan Valley? First, while the biggest part of my market is second homes, I never give up on the potential of the region to attract more permanent residents.  For this reason, I promote the many benefits the Valley has to offer homeowners.

I also offer top notch service.  Because many buyers are not local, I do much of my business online and through phone and fax.  Before that, however, I know potential buyers come to my website, which I am constantly improving. My site offers the newest listings from the Missoula County MLS with best search tools available to buyers plus a convenient assessment for home values for sellers.

Are you interested in exploring the potential of the Seeley Swan Valley for your primary or secondary home?  Visit me, Kim Koppen, at Great Bear Properties today!

What qualities should you look for when hiring a real estate agent to help you buy or sell your next home? A good agent will go the extra mile to help make your purchase a little less stressful. A good agent will help you be objective when you become emotional about one of the single largest investments most folks deal with in their lifetime. A good agent can help you understand and work with the local market conditions; a key factor in negotiating a sale.

I would guess that most buyers spend more time thinking about where to put the furniture, how many bedrooms and baths and what kind of counter tops they’d like than who is going to represent them.

The real estate agent you hire should know your neighborhood of choice intimately. He or she should have worked in the neighborhood for a while and have seen a lot of the housing stock. He or she should know the neighborhood’s history, the trends associated with it and where the locals hang out. The agent should be able to tell you what the homes have sold for in the neighborhood and what other homes are listed for. He or she should also have information to explain why some homes are listed for more than others, and should be able to represent you when you are ready to make an offer on a home. He or she should know about schools, shopping, commuting and recreational opportunities.  He or she should basically be a WEALTH OF INFORMATION and be able to point out the flaws as well as the outstanding features of the community. A good agent will save you time, money & stress!

The weather has been spectacular and people have been flocking to Seeley Lake to take advantage of the multitude of recreational opportunities and the fabulous real estate buys!

Buyers: Don’t be shy about making offers on that special property you’ve been eyeing all summer! You’d be surprised at some of the deals these motivated sellers are offering. Check out our website at www.GreatBearProperties.com for some of the best prices on recreational property in the valley!

Don’t miss the Seeley Lake Farmer’s Market this Sunday at 10:00 a.m. @ “Little Bird’s” in the center of town! See you there! 

Freddie Mac today released the results of its Primary Mortgage market Survey in which the 30-year fixed rate mortgage averaged 5.12 percent with an average 0.7 point for the week ending August 20, 2009, down from last week when it averaged 5.29 percent. Last year at this time, the 30-year fixed rate mortgage averaged 6.47 percent.

The 15-year fixed rate mortgage this week averaged 4.56 percent with an average 0.7 point, down from last week when it averaged 4.68 percent. A year ago at this time, the 15-year fixed rate mortgage averaged 6.00 percent.

Freddie Mac vice president and chief economist Frank Nothaft said, “Interest rates on 30-year and 15-year fixed-rate mortgages fell to the lowest level since the end of May, while initial rates on 5/1 hybrid ARM’S declined to levels not seen since January 2005.”

It’s a Buyer’s Market in Seeley Lake! NOW is an excellent time to buy! Prices are affordable, inventory is high and interest rates continue to fall. Check out our website at www.GreatBearProperties.com or call us today for some of the best recreational values on the market!

According to the Missoula County MLS for the Seeley Lake area, (77a) 20 residential properties have been sold since January 1, 2009. The current residential inventory in the same area is 105 properties.

What does this mean for the sellers and buyers in the Seeley Lake area?

1. It is a BUYERS’ MARKET

2. An average of 2.5 homes per month are selling

3. With the current inventory of 105 residential properties for sale, there is a 3 1/2 year supply of homes for sale in Seeley Lake!

BUYERS, WHAT ARE YOU WAITING FOR?? the interest rates are still VERY low and  Sellers are getting more motivated every day!

Give us a call or check out our website at www.greatbearproperties.com for the most recent price reductions!

It’s finally summertime in the Seeley Swan Valley and the resort town of Seeley Lake is preparing for the influx of visitors over the holiday weekend! Welcome everyone and have a safe and fun time in our beautiful mountain paradise!

While in town don’t forget to stop by our office at the Lazy Pine Mall and check out all the fabulous real estate deals or of course look for us online at www.GreatBearProperties.com. For example; Camp in Comfort in the adorable cabin we have listed on the Double Arrow Ranch. Cook, eat and sleep in this 10 x 15 cabin located on 3+ acres bordering Forest Service. You’ll never have to worry about a camp site at the campground again!

Seeley Lake is the place to be on those hot summer days! Take a hike up the Morrell Falls trail, ski and tube on the lakes or just sit in your lawn chair and enjoy the beautiful mountain views.

The Schedule for the 4th of July looks like this:

7 am to 10:30 am: Fire Department Pancake Breakfast at the Fire Hall on “A” Street

9 am: YMCA Seeley Spectacular Runs: Seeley Lake Nordic & Mountain Bike Trails

11 am: Condon Parade

2 pm: Seeley Lake Parade

4:30 pm: Duck Race, Wagon Wheel Way, South of Town

8 pm: Breanna Johnson & Treasure State at Lindey’s Steak House Lawn

9 pm: Sauce’s Parking Lot Dance with Sho Down; $4 cover, $6 bottomless beer

10:30 pm Fireworks Over the Lake, Lindey’s Steak House Lawn 

Have a great weekend and don’t forget; it’s a buyer’s market in Seeley Lake; Contact: Great Bear Properties for some of the best real estate deals in town!

The selling season is underway in the Seeley Lake market and so far it’s been quite an interesting scenerio. According to market information from the Missoula County MLS our home values have fallen consistently the past two years.

It’s interesting to watch what is happening in the rest of the country, knowing that Montana is almost always behind in reacting to the National trends.

It is truly a buyers’ market in Seeley Lake as the inventory continues to rise and the prices continue to re-adjust. As is almost certainly the case, if the property is priced at market value, it will sell. Call me @ (406) 210-1985 for a quick market update on current property values and check out our website @ www.greatbearproperties.com for all our great new listings!

What a great time to buy a second home or vacation property in the beautiful Seeley Swan Valley!