Look for the Real Deals in Real Estate
In the middle of difficulty lies opportunity.” Albert Einstein
During these times of economic strife, comes a host of opportunities for those who are ready. If you believe that the goal to success is to buy low and sell high, then now is certainly the time to seize the opportunity.
Montana is fortunate in the sense that our foreclosure rates are considerably lower than most states. In fact, we are near the bottom of the 50 states, but being a strong second home market puts us in a difficult position since most of our buyers come from states in the top ten highest foreclosures. However, there are many sellers who are eager to trim back mortgage payments who, in order to be caught up in the foreclosure market, have dramatically dropped prices. This opens super deals on properties that are most desirable. I recently noticed a wonderful waterfront home in the artist village of Bigfork that dropped their price from $1,260,000 to $743,000. Another one, a newer lived in new town home in the golfing community of Eagle Bend which was normally listed for $599,000 has been reduced to $400,000, far below what the owner paid. Opportunities abound for those who are financially ready.
Tightening of credit with lenders, increases the rental markets and rental rates. If your desire is to invest in Montana with the goal of eventually retiring here, perhaps purchasing a home with the intent of renting it until you are ready to make a more permanent move might be advantageous.
The real estate market will recover….it just takes time.
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