If I would give you 100k more... (Kalispell: sale, condo)

[jimj]

I just took a look at the local MLS and found the following:

Out of all of this there are 324 2-3 bedroom houses below $200k
There are 364 3 bedroom houses for sale in Flathead County from $0 to 250k.
204 2 bedroom houses
61 one bedroom houses
From $250-$350k there are 401 2 and 3 bedrooms. I didn't look at one bedrooms because they are mostly resort condos.

From $350-$500k there are 216 3 bedrooms, again I didn't look at 1-2 bedrooms for the same reason stated above.

So I guess it comes down to what is affordable for each person vs what they would like.

[JustAGoodPerson]

so i just saw that somers houseing is the same price as the rest of mt (2005 stats). http://www.city-data.com/city/Somers-Montana.html

so Lakeside is alot higher, Bigfork is alot higher but somers isnt???? why? its just as pretty????

[jimj]

Originally Posted by JustAGoodPerson

so i just saw that somers houseing is the same price as the rest of mt (2005 stats). http://www.city-data.com/city/Somers-Montana.html

so Lakeside is alot higher, Bigfork is alot higher but somers isnt???? why? its just as pretty????

I just looked at the MLS and from what I can see it's size. Somers houses are smaller. I looked from 0-300k and noticed the houses average about 1200-1500 sqft for 220k or more.

[JustAGoodPerson]

so your thinking that the houses are costing more per sqft in somers but that they are smaller over all...

[JoeJoeMan]

One thing to take into consideration when looking at realestate listing or stats....and that is that the price can be misleading, in respect to what you get.
For example what you get today for the average median price is a lot less house/home than you got say 5 or 10 years ago.
Around Missoula for the most part I wouldn't want to live in a median priced house, because for the most part (a few exceptions) they a either old junk or new junk for that matter.
The bottom people on the ladder trying to get into houses have a certain maximum amount that they can afford, so someone out there will always be building something to sell them, even if it's just a glorifed box with no garage or basement.
Compared to Montana, as I'm sure a lot of you already know, there are many other places in this country where for the same amount you get ALOT MORE house, granted there are a few places where you get less for you money, but those places are fewer, ie Calif, Seattle, etc....but for the vast rest of the country it is actually cheaper and in alot of cases ALOT cheap than Montana....speaking in terms of what you get for you money.
And it isn't hard to come up with the answer why, it's what people on this board have been trying to say...............It's the influence of outside money, people with the bucks flocking here, as such distorting the region economics and realestate market forces that would otherwise naturaly equal themshelves out, based on local income and the like.
I've just recently hear a couple stories of people buying houses just to flip, fixing them up and selling them to make a profit is one thing, but these folks are putting premium price tags on them, and when everyone starts doning that the buyer on the bottom has no choice, and when the price can't go up anymore the quality starts to come down, which is exactly what has happened, these fix'er up people litteraly are adding on 10's of thousands of dollars to the price above and beyond what they have into it for materials and time. It's done with almost a get-rich-quick mentality.
With so many people doing it, it's making me wonder if this housing bubble is near it's natural end, perhaps already arrived. we can only hope it has.

[jimj]

While most of what you say is definately true there are a couple of things one needs to think about. I've been looking at several places to go to in the south in which houses are less expensive or close to the same but you get a whole lot more house. That being said what evens it out to here is cost of living besides housing. Sales tax of 9%, hard to find jobs or jobs that pay less than $10 and hour if you are lucky to get one and food costs that are higher than here.
After moving all around the states I'm finding that it pretty much levels out depending on what you do where you are. There is also a big value that you have to add for for amenities, not shopping unless that's what you're looking for but things like safety,weather,outdoor activities etc.

[8 SNAKE]

Originally Posted by jimj

After moving all around the states I'm finding that it pretty much levels out depending on what you do where you are. There is also a big value that you have to add for for amenities, not shopping unless that's what you're looking for but things like safety,weather,outdoor activities etc.

I believe that we're truly spoiled here in Southwest Missouri. We've got some of the most affordable housing in the nation, coupled low taxes, a decent job market and a low cost of living.

[giffman]

Originally Posted by JustAGoodPerson

ok, let me ask all Montanian's...

If I were to give you 100k more then you thought your home was worth, would you take it?

If you first think yes, or even Hell Yes!!!

Then you too are the problem!

That is how this whole thing happened across America, is some people with BIG pocket books offered more. And it trickled into a spot where the middle class is being whipped right off the table.

Well, if you wanta do something about it then remember this before you sell your next home, and remember this before you whip yourself off of the table.

So if I put my house on the market and several offers come in above the asking price, I should reject them? Or should I accept an offer under the condition that they lower their offer? What if an offer comes in below the asking price? Should I reject that offer based on the same principles? What if I intend to invest the proceeds in another house and the seller, for some unknown reason, decides to sell to the highest bidder? Will I be able to convince the seller that what they are doing is "wrong"?

[JustAGoodPerson]

of course none of those things happen.

i wouldnt tell anyone to.

but... do you get why a house thats just carpet and wood on God given land costs more then the wood and labor?

you cannot say that Cali's are causeing the market to go up, taking the offer does it.

[8 SNAKE]

Originally Posted by JustAGoodPerson

you cannot say that Cali's are causeing the market to go up, taking the offer does it.

Don't take this the wrong way, but you're making some very wild and unfounded assumptions.

This is very basic economics. Right now, the supply of housing appears to be tighter than the demand so prices are being driven up. As more houses are built, the demand will subside and prices will level off. If too many houses are built, then supply will outstrip demand and prices will fall.

Simply put, there is a reason that people are offering prices that they are. No one is going to buy a house for more money than they need to spend. No one is going to sell a house for less money than they can get. In a free market economy, buyers and sellers determine the market prices based on changing economic conditions.