Missoula/Bozeman Slowdown - Helena Taking Off (Great Falls, Custer: real estate, housing)

[AQHA]

Originally Posted by mthawki

Last week they began moving dirt on a new development south of Lowe's / south of Custer / east of Power Townsend where a Sportsman's Warehouse and a variety of other shopping are due to go in. The developers are all leaving areas of land untouched for where on/off ramps and the widening of Custer where go.

Sportsman Warehouse???? Ok, thats the best news I have heard. That is an awesome store! Is this for sure? I didnt think we would ever get one of those. Can't we get the cool stores without getting the big crowds????

That will be a good place for an interchange, it will make it so we dont have to go all the way around Home Depot. Home Depot is about to lose some major money if this happens...

[lorelei2873]

Originally Posted by AQHA

Are you looking in Helena? What parts do you like?

Do you really think things are going to change that fast in this area?

Absolutely! I just finished a first time homebuyers' class and they told us that there were only 75 active listings under $150K in a 60 mile radius. They said the average list price is now over $300K (that's list, not selling). But, there were 150 of us in the class, so we are fighting each other over crumbs. Houses typically go up about 12% a year here, and well, my pay only goes up about 3% a year, so in a few months, I'm going to have a huge problem.

I like East Helena or anywhere in town that I can afford. I made an offer on a house tonight, but due to some unique circumstances, there will be 2 offers on it at once. So, even though I made a full-price offer, I might not get it. I'm hopeful I do.

[lesliegrace]

Originally Posted by lorelei2873

Absolutely! I just finished a first time homebuyers' class and they told us that there were only 75 active listings under $150K in a 60 mile radius. They said the average list price is now over $300K (that's list, not selling). But, there were 150 of us in the class, so we are fighting each other over crumbs. Houses typically go up about 12% a year here, and well, my pay only goes up about 3% a year, so in a few months, I'm going to have a huge problem.

I like East Helena or anywhere in town that I can afford. I made an offer on a house tonight, but due to some unique circumstances, there will be 2 offers on it at once. So, even though I made a full-price offer, I might not get it. I'm hopeful I do.

Good luck, lorelei!

When will you find out?

[mthawki]

Bids are due for Sportsman's Warehouse in May, so construction would probably begin about a month or so after that. If the store goes up with the speed of Costco, then it would be open in the fall.
There's a whole shopping center going in by Home Depot, so they'll probably be just fine. An interchange will benefit everybody!

[AQHA]

Originally Posted by mthawki

Bids are due for Sportsman's Warehouse in May, so construction would probably begin about a month or so after that. If the store goes up with the speed of Costco, then it would be open in the fall.
There's a whole shopping center going in by Home Depot, so they'll probably be just fine. An interchange will benefit everybody!

I havn't been over by Home Depot for a while, has anything popped up in that open space by IHOP?

[AQHA]

Originally Posted by lorelei2873

I like East Helena or anywhere in town that I can afford. I made an offer on a house tonight, but due to some unique circumstances, there will be 2 offers on it at once. So, even though I made a full-price offer, I might not get it. I'm hopeful I do.

Well I hope it works out for you. Let us know how it goes.

[mthawki]

A Chili's and Macaroni Grill are currently being built south of the IHOP and an 8- 9 tenant strip mall building is going up north of the IHOP. Long range plans for that whole area around Home Depot are for a Bed, Bad and Beyond and other anchor stores. Kohl's was going to come at one point but they pulled out for now. Maybe once the area starts to get built out some more, Kohl's will change their mind!

[YOU-CANT-EAT-SCENERY]

Originally Posted by lorelei2873

Absolutely! I just finished a first time homebuyers' class and they told us that there were only 75 active listings under $150K in a 60 mile radius. They said the average list price is now over $300K (that's list, not selling). But, there were 150 of us in the class, so we are fighting each other over crumbs. Houses typically go up about 12% a year here, and well, my pay only goes up about 3% a year, so in a few months, I'm going to have a huge problem.

I like East Helena or anywhere in town that I can afford. I made an offer on a house tonight, but due to some unique circumstances, there will be 2 offers on it at once. So, even though I made a full-price offer, I might not get it. I'm hopeful I do.

Hang on to your hats though. We have a huge slowdown in the housing market here in So Cal, which might affect you guys...maybe? Since we "Kookyfornians get the blame for the housing prices everywhere, now maybe we can get the blame for the drop

[AQHA]

Originally Posted by johns65vette

Hang on to your hats though. We have a huge slowdown in the housing market here in So Cal, which might affect you guys...maybe? Since we "Kookyfornians get the blame for the housing prices everywhere, now maybe we can get the blame for the drop

When you say "huge slowdown" what do you mean? A house that was selling for $500k will now sell for what? Any idea? Homes in Cali were selling as soon as they hit the market-- is this not the case anymore?

What caused this market shift-- any idea?

[YOU-CANT-EAT-SCENERY]

Originally Posted by AQHA

When you say "huge slowdown" what do you mean? A house that was selling for $500k will now sell for what? Any idea? Homes in Cali were selling as soon as they hit the market-- is this not the case anymore?

What caused this market shift-- any idea?

At this time last year I could have sold my house in about a week for 660K. Right now it might be worth 600K...maybe a little less, and it would take some time to sell it. Like maybe 2 to 4 months. Good thing I am not ready to sell yet. My neighbors down the street have had their house on the market for about 6 months now, but they are asking waayyy to much...over 700K

Hard to say what is causing it. Economy I guess. Maybe people being a little more picky on what they want, instead of paying half a million for a 1500 sq ft house on a 4000 sq ft lot Interest rates were starting to go back up a little a few months ago, and I think that's when things started slowing. That along with the holidays. The realtors are calling it an "adjustment" instead of a "crash" we'll see.

I also think a lot of those "special" loans are coming due now, and the banks are flooded with repo's. Stupid finance companies should have never allowed folks to buy houses on interest only loans.

Many of us here feel it will take a few years to restabilize. Hard to say what ieffect it will have on housing in the rest of the country. I think before it's all said and done my house will drop to about 550K or so. Good thing I only owe 440K