Billings Real Estate Professionals

DOES YOUR HOME HAVE THE TOP WANTED LIST

2012-02-14T18:33:00.000-08:00

MASTER BATH

WALK IN CLOSET

GOURMET KITCHEN

OUTDOOR DECK

HARDWOOD FLOORS

ENTERTAINMENT CENTER--HOME THEATER

Call Billings Real Estate Professionals for all of your real estate needs.

MAKE MINOR REPAIRS TO HELP HOME SELL

2012-02-07T19:19:00.000-08:00

Repair ceiling and wall cracks

Repair or replace leaking faucets

Repair banister, handrails, cabinets, drawers, and doors

Caulking and grouting tubs, showers, sinks and tile.

Adding fresh paint

Tightening door handles, drawer pulls, light switches and electrical plates

Lubricating door hinges and locks

Call Billings Real Estate Professionals for all of your real estate needs.

5 REASONS TO BUY

2012-01-12T12:25:00.000-08:00

Savings--You will find that long-term homeownership is still a way to get big savings.

Tax breaks--Many homeowners are still able to take the mortgage interest deduction.

Equity--When you pay on a mortgage, you are paying towards owning a piece of something.

Budgeting--A fixed-rate mortgage means your monthly payment is the same amount for the life of the loan. The only increase us the taxes or insurance.

Security--You own, it is yougs. You can paint, improve and decorate.

Call Billings Real Estate Professionals for all of your real estate needs.

HUD PROPERTIES

2011-12-14T18:30:00.000-08:00

We list and sell HUD acquired properties. We have a number of experienced agents who know exactly what needs to be done in order to sell these properties. Give us a call and we will be glad to help you.

Billings Real Estate Professionals

10 THINGS TO DO TO WINTERIZE YOUR HOME

2011-11-17T08:24:00.000-08:00

Check smoke detectors

Install a carbon monoxide detector

Service your heating system

Upgrade your thermostat--an older one that is a couple of degrees off can increase your bill

Trim trees--trees overhanging your home can be a real hazard.

Check the gutters--make sure they are clean and ready for winter

Break out the caulk--caulk around windows, doors, pipes, exterior electrical outlets and any other exterior areas where cold air might enter.

Drain sprinkler systems

Adjust exterior grade--make sure the grade around your home slopes away from your home.

Change light timers--if you have exterior lights on timers you need to adjust them

Call Billings Real Estate Professionals for all of your real estate needs.

3 TIPS TO SELL YOUR HOME THIS FALL

2011-10-29T13:35:00.000-07:00

Maintain your landscape--make sure lawn is cut and leaves are picked up. Mums or fall flowers on the deck are always a nice touch.

Keep your house warm. Prospective buyers are turned off by a cold house.

Let in the light. During the day open the curtains and drapes. At night put on all of the lights.

Call Billings Real Estate Professionals with all your real estate needs. 248-4409

TIME TO OWN INSTEAD OF RENT

2011-10-27T07:36:00.001-07:00

Renters are now spending more of their household budget on housing than homeowners do. The percentage for renters has increased more than for homeowners. The interest rate has never been lower, so now is the time to buy. Contact us for help in owning your new home.

Billings Real Estate Professionals 248-4409

MAKE YOUR HOME READY TO SHOW

2011-10-13T14:02:00.000-07:00

Curb appeal is very important. Start outside and make sure that your home has the appeal you would like if you were purchasing it. Check the paint, get rid of any garbage, prune bushes, remove dead plants.

Inside review home room by room and

Paint any room needing paint

Clean carpets and draperies that need it

Clean windows

Clear unnecessary objects from furniture. In general, a sparsely decorated home helps the buyer mentally 'move in' with their own things.

During showings turn on ALL lights and lamps.

Play light FM mustic every day int he house, for all viewings.

Make sure there are no odors in the house

For all your real estate needs, contact Billings Real Estate Professionasl

6 TIPS FOR YOUR OPEN HOUSE

2011-09-11T09:43:00.000-07:00

Visit other open houses in your neighborhood. Get a feel for how the competition is putting its best foot forward, or not. This will help you see your home in new eyes, in the eyes of a buyer.

Move. Literally pretend you are moving and pack up almost everything you do not use on a daily basis. Remember they open closets, drawers, cupbaord and garages.

Invite the neighbors. They are probably anxious to see your home, and they may know of someone who might be interested.

Enlist the neighbors. They want your home to sell for top price as it affects their property also. If you need cars moved or barking dogs taken care of, they will probably be glad to help with this.

Mow your neighbor's lawn. You need to exercise good judgement here, but if it is someone elderly or down on their luck and their place needs sprucing up, volunteer to help.

Get over yourself. Let your agent or a pro stager help you decide what should stay and what should go.

30-YEAR MOTGAGE RATE FALLS TO LOWEST ON RECORD

2011-08-21T18:54:00.000-07:00

If you are thinking of purchasing a home, there is no time like the present. The average rate on a 30-year fixed mortgage has fallen to its lowest level on records dating to 1971. The was reported in the Billings Gazette on Friday.

The rate on the most popular mortgage dipped to 4.15 person from 4.32 percent a week ago, Freddie Mac said Thursday. Its previous low of 4.17 percent was reached in November.

The last time long-term rates were lower was in the 1950's.

Call Billings Real Estate Professionals and let us help you find your new home.

GOOGLE BEFORE YOU BUY

2011-08-03T13:06:00.000-07:00

Sellers may want to google in order to see recently sold property in their area and also what other information prospective buyers may find.

Buyers will also find recently sold properties in the area. They could also find crime reports and foreclsorure reports for the area. There may be personal information about the homeowner that could influence how a prospective buyer negotiates an offer.

Unusual finds could include historic information about the neighborhood.

Call Billings Real Estate Professionals for all of your real estate needs.

BUY NOW OR PAY MORE LATER

2011-07-24T14:22:00.001-07:00

With all the talk of possible US Government default, it's enough to make anyone nervous and hesitate to make any long term commitments. However it comes out, the end result will most certainly be an increase in interest rates because we are in danger of losing the governments AAA credit raing which will mean that every dollar that the government borrows will cost more in interest. The downgraded federal credit rating will also mean that many states and local city governments will also experience a reduced credit raing because of the dependence on federal funds. All this will equal increased interest rates across the board for everything. These increased costs will thereby fuel inflation, putting added pressure on rising interest rates. So if you are seriously considering buy a home, now is the time before interest rates rise. Call Billings Real Estate Professsionals or Larry or Jo Ann Thomas at Laurel Real Estate Professionals 406-628-2903 or cell 406-545-9249 and let us find your home today and lock in your interest rate with your lender now!!!

MORTGAGE RATES HIT A 2-MONTH HIGH

2011-07-12T11:41:00.000-07:00

Mortgage rates increased for the second week in a row and the third time in the last four weeks. As investors grapple with the state of the US economyic recovery, quarterly corporate earnings and a dealine for increasing the debit ceiling, mortgage rates could increase.

If you are purchasing a home, you might want to lock in your mortgage rate.

For all your real estate needs contact Billings Real Estate Professionals

DOS & DON'TS FOR OPEN HOUSES

2011-06-30T16:06:00.001-07:00

Use Open houses as a convenient time for touring homes with your agent.

Open every door if you are serviously interested in a home.

Don't open every drawer--do not look in personal drawers to furniture

Offer hospitality to buyers--make sure there is parking

Intensively clean and de-odorize the place

Don't overdo the sensory staging--some people have severe allergies

Don't underdo the curb appeal, landscaping and exterior prep

Take the take-aways--fliers that you can note your reactions

Call Billings Real Estate Professionals for all your real estate needs.

BEFORE YOU LIST YOUR HOME

2011-05-29T13:17:00.000-07:00

OUTSIDE

Go around the house and move all garbage cans, discarded wood etc.

Check gutters and roof for dry rot and moss. Make sure they are clean

Looks at all plants. Keep plants from blocking windows. You can't sell a house if you cannot see it!

Remove any dead plants.

Keep your lawn freshly cut, edged and fertilized.

Clear patios or decks of all small items.

Check the condition of the paint on your home. First impression or "curb appeal" is very important.

Call Billings Real Estate Professionals to list or purchase a home. We have agents ready and willing to help you with all your real estate needs.

NOW IS THE TIME TO BUY

2011-05-17T08:33:00.001-07:00

Interest rates have never been lower. This is a great time to purchase a home.

Call Billings Real Estate Professionals for professional help with your home purchase or to list and sell your home.

STAGING ENABLES SELLERS TO PORTRAY A LIFESTYLE THAT PROSPECTIVE BUYERS CAN RELATE AND ASPIRE TO

2011-04-26T17:35:00.000-07:00

Get rid of stuff

Depersonalize

Clean, Clean Clean

Update old and deteriorating spaces

Define spaces--don't have buyers guess what rooms are used for

Fill empty rooms

Lighten up spaces

Open up indoor walkways

Clean out closets and leave them one-third empty

Curb appeal really counts

Be model-ready--pose rooms well for good photo shoots

Call Billings Real Estate Professionals for all of your real estate needs.

Be Choosy With Home Improvement Projects

2011-04-11T17:43:00.000-07:00

Emphasize the essentials over the extras by investing in basic upgrades, such as fresh paint (use neutral colors) and new fixtures

Know that curb appeal is vital; exterior projects can sometimes provide a greater return on investment than interior projects

Avoid over-improvement by sticking to what's proportional in your neighborhood

Consier adding a bathroom, bedroom or renovating the kitchen, which are appealing features for home buyers

Projects that add square footage to bring a house up to - but not significantly beyond - community norms typically yield good returns.

HOMEBUYER TURN-OFFS

2011-03-24T13:19:00.000-07:00

Stalker-ish Sellers--Follow the buyer all over the house
Shabby dirty crowded and/or smelly houses
Irrational seller expection (I.E. overpriced)
Feeling misled
New ugly home improvements
Crazy listing photos (or not photos at all)

Call Billings Real Estate Professionals for all of your real estate needs.

RENT OR BUY A HOME

2011-02-27T16:00:00.001-08:00

Here are some questions to ask when making this decision:

What will monthly costs be, and can I afford the payments?
What other debt do I have?
What is my credit score? Can I qualify for a good interest rate?
How much will taxes, monthly maintenace, or other fees cost?
How many years will I stay here?

Call Billings Real Estate Professionals for all your real estate needs. We will give you personal service. We have 21 agents to help you with your needs.

TAX BENEFITS OF BUYING A HOME

2011-02-19T10:55:00.000-08:00

Home mortgage interest deduction
home equity loan deduction
property tax decution
deductible homebuying expenses--various closing costs
14 days of free rental income

Call Billings Real Estate Professionals for all of your real estate needs.

MOLD IN YOUR HOME

2011-02-01T10:52:00.000-08:00

How do you find the mold in your home? sometimes it is easy--it may be right in front of you, or you will find it by its distinctly musty smell. Though it is harder to find hidden mold, you can do so by looking behind and beneath fixed materials and appliances--anywhere near where water flows or where air does not penetrate readily. Also look for signs of discoloration on walls and ceilings, this can denote a moisture buildup behind which mold may lurk.

Call Billings Real Estate Professionals for all your real estate needs.

HUDHomestore.com

2011-01-17T17:08:00.000-08:00

All HUD acquired properties are listed on HUDHomestore.com. If you are interested in bidding on one of these properties, let Billings Real Estate Professionals help you with this.

4 TIPS TO KEEP HOMEOWNER'S INSURANCE COSTS DOWN

2011-01-02T13:05:00.001-08:00

Shop around. Some insurance companies have been raising house insruance costs to recoup losses.
Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts.
Check personal credit reports. Your personal credit affects your premium.
Small claims can become expenseive. Filing a cliam for every broken window or leaky pipe can increase premiums by 10-15%

Check homeownersinsurance.net for more information.

Call Billings Real Estate Professionals for all your real estate needs.

BREP OPENS BRANCH OFFICE

2010-12-18T09:58:00.000-08:00

Billings Real Estate Professionals is opening a branch office in Laurel. The branch office will be know as Laurel Real Estate Professionals at 1009 E. Main Street in Laurel. The phone number is 628-5885. Grand opening will be in January of 2011, exact date soon to be announced. This office will be one of the only two walk-in real estate offices in Laurel. It offers easy access with an East Main Street location.

4 Tips to Keep Homeowner's Insurance Costs Down

2010-12-06T16:02:00.000-08:00

Shop around
Re-evaluate coverage amounts
Check personal credit reports. Insurance also looks at this. Make sure your report is accurate, so you get the best possible rate.
Small claims can become expensive. Have the highest deductible you can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing too many claims can increase premiums.

Staging Your Living Room

2010-11-24T11:05:00.000-08:00

Create a Fcal Point--possibly in the most visible corner put a large silk plant with a spotlight
Be sure the furniture is positioned for conversation as well as entertainment
Get rid of carpet dents
Accent Special Features
Invoke the Outdoors--cuttings, flowers, dried flowers, whatever will work

Call Billings Real Estate Professionals for all your real estate needs 248-4409

RENT OR BUY A HOME

2010-11-14T16:56:00.000-08:00

What will monthly costs be, and can I afford the payments?
What other debt do I have?
What is my credit score? Can I qualify for a good interest rate?
How much will taxes, monthly maintenance, or other fees cost?
How many years will I stay here?

Call Billings Real Estate Professionals for all your real estate needs 248-4409

NOW IS THE TIME TO BUY

2010-10-26T14:35:00.000-07:00

Interest rates could not be lower and the housing selection is great. Contact Billings Real Estate Professionals to start the process of purchasing your home.

RENT VS. BUY

2010-10-02T19:05:00.000-07:00

There are many advantages to buying a home versus renting one. View these advantages in the Buy vs. Rent Comparison Chart:
http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section+YPTH

Your income, savings and monthly expenses play an important role in determining how large amortgage you can afford. to figure out the amount you can afford, please check affordability: http://www.ginniemae.gov/2_prequal/intro_questions.asp?section+YPTH

If you are thinking of buying a home this is a great time to do so. Give Billings Real Estate Professionals a call for all your real estate needs.

7 Tips for Fall Tree Maintenance

2010-09-22T13:24:00.000-07:00

Hydrate
Plant for all seasons, and for your region--protect young trees from animals
Remove troublemakers--trees next to foundation, path, fence, or along sewer or utility line should be removed.
Prune
Remove fallen leaves--be certain that the base of tree can "breathe"
Spray--if an insect is attacky a tree, fall is the best time to spray
Fertilize

Call Billings Real Estate Professionals for all your real estate needs.

Preparing Your Home for the Fall Season

2010-09-13T07:24:00.000-07:00

Check all window and door locks for proper operation
Make sure there are working nightlights at the top and bottom of stairs
Have a heating professional check your heating system every year
Replace your furnace filter
Run all gas-powered lawn equipment until the fuel tank is empty
Have a certified chimney sweep inspect and clean the flues
Remove bird nests from chimney flues and outdoor electrical fixtures
Make sure the caulking around doors and windows is adequate to reduce heat loss

Call Billings Real Estate Professionals for all your real estate needs.

FHA GIVES HOME BUYERS 1 MONTH WINDOW

2010-09-02T08:50:00.000-07:00

FHA is giving homeowners and buyers until October 4, 2010, to lock in a low monthly insurance premium according to Gibran Nickolas, Chairman of the CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. After October 4, the monthly insurance premiums on FHA loans will increase by over 63%.

What does this mean for home buyers?
A home buyer purchasing a $200,000 home using a $193,000 FHA mortgage before October 4 would pay an insurance premium $88.46 per month. If the same home buyer waits until after October 4, the insurance premiums would jump to $148.01.

"In this example, the home buyer would lose $59.55 per month, or $7,146 over a 10-year timebframe," Nicholas said. "Althought the upfront mortgage insurance premium is going down after October 4, the real impact to the home buyer is actually a net increase in their out of pocket costs because the monthly premium is going up by 63%. Remember, sellers can pay the upfront premium or it can be financed into the loan amount, so home buyers rarely pays the upfront premium out of pocket. On the other hand, the increase in the monthly premiums wil be paid right out of the home buyer's pocket with their mortgage payment each month."

Home buyers considering an FHA loan give Larry or Jo Ann Thomas, Billings Real Estate Professionals and Laurel Real Estate Professionals a call at 628-2903 and let's start looking for your new home.

Is Your Desk Ready for Labor Day Parties

2010-08-27T08:27:00.000-07:00

In the last 15 years more than 900 people have been injured or killed by deck disasters in the United States.

Here are five signs that your deck needs attention:

1. Missing Connections. Check the metal supports and connections to ensure that they are strong and in place.
2. Loose Connections. Are railings wobbly or stairs loose?
3. Rust. Metal hardware such as metal connections, nails and screws rust. Replace corroded hardware.
4. Rot. Soft wood--a sign of rot--will not hold under stress.
5. Cracks. Desk boards will crack over time and weakens the structure.

Call Billings Real Estate Professionals for all your real estate needs.

7 Tips for Selling Your Home

2010-08-25T18:49:00.000-07:00

Set Your Price Carefully
Don't do Major Remodeling
Make a Good First Impression--curb appeal is important
Clean--remove all clutter and have everything windows, walls, cabinets completely clean
Keep It Clean
Light It Up--Put on lights and open drapes for showing
Go Away--Potential buyers are more comfortable looking around if you aren't there

5 Reasons to Buy

2010-08-04T17:22:00.000-07:00

Low mortgage rates
Houses in move-in condition
Terrific homes are coming on the market
Appraisal regulations are finally aligned with market realities
Plenty of programs to help people get into a home

Call Billings Real Estate Professionals for help with purchasing your home

Staging with colors

2010-07-26T15:58:00.000-07:00

Homeowners can find color in simple accessories, like throw pillows, coffee table books, and decorative canisters. Neutral colors in flooring materials, upholstery pieces and window dressing work well because they enhance brighter accents.
When choosing colors, Jones cautions homeowners to be aware of their sensory impact:
- Red is stimulating and encourages self confidence
- Orange promotes happiness and celebration
- Yellow is uplifting and light-hearted
- Blue is calming in softer tones and promotes clarity in deeper tones
- Green is the color of nature—it feels fresh and rejuvenating
- Aqua is restful while pink is gentle and sweet—making a great pair
- Purple tones bring out a sense of compassion

Call Billings Real Estate Professionals for all of your real estate needs

MAKE YOUR HOME HEALTHIER

2010-07-19T10:44:00.000-07:00

When shopping for furniture, you need to do more than pick out pieces that are attractive or comfortable. It’s important to also find out how the pieces are made and whether they will slowly emit toxins into your home.
For the times when you need something new, there are a few items you should definitely avoid. Pressed woods like particleboard, plywood, and medium density fiberboard (MDF) are known to contain urea-formaldehyde resin. Of the three wood materials, MDF releases the most formaldehyde. Formaldehyde is a colorless gas that can cause skin rashes, chronic headaches, and is also a suspected carcinogen.
Household paint is another item that can continue to emit dangerous gases into your home’s air, even after the fumes are gone. In fact, paints and finishes are the leading source of Volatile Organic Compounds, or VOCs, in our homes. VOCs can cause all kinds of breathing problems and have been linked to rapidly increasing asthma rates in children. When you’re redecorating a room or re-finishing a piece of furniture, shop for low- or no-VOC products. Most paint companies have these options and they’re just as durable and cost effective. And buy only the amount of paint, thinner or finish that your project needs. When your project is complete, if you do have any products left over, remember, all of these items are considered household hazardous waste and need to be disposed of properly.
And don’t forget about all the cleaners you bring into your home every day. Household cleaners that are chemical based can pollute your home as the toxins evaporate into the air or are left behind on cleaned surfaces. As a rule of thumb, if the product has a warning or danger label, it’s likely not good for you or the environment. Choosing a plant-based or natural cleaner like vinegar or baking soda will also reduce the amount of pollution in your home.
Do your part and make your home a healthier place to unwind. It’s something we can all breathe easier about.

Call Billings Real Estate Professionals for all your real estate needs.

Keeping it Cool with Air-Conditioning Tips

2010-07-10T18:31:00.000-07:00

•Change the air filter once a month. Don't use the ultra-thick, expensive filters because they will restrict air flow and cause the unit to work harder.
•Have the unit maintained twice a year, once in the spring and once in the fall
•If the unit ices over from a coolant leak or being clogged with debris, turn off the thermostat and use a water hose to defrost it faster. Once it is defrosted, you can turn it back on for a cool blast while you wait for a repairman.
•If the heating and air company has an unacceptably long waiting list, shop around for someone who can fix it faster or ask for a loaner window unit to stay cool while you wait.
Remember that the unit might be doing all it can. Most units will drop the temperature inside only 20 degrees from what it is outside.

Call Billings Real Estate Professionals for all your real estate needs.

FHA LOANS

2010-07-01T13:27:00.000-07:00

1. FHA Loans Are Not Only For Lower-Income Borrowers.

2. FHA Loans Are Not Only For First-Time Buyers.

3. FHA Loans Are Not Just Small Loans; In Fact, Loan Amounts Can Be As High As Almost $800,000.

4. FHA Loans Are Not Affiliated With The Section 8 Housing Program.

5. FHA Loans Are Often More Affordable Than Conventional Loans. While FHA loans typically offer the same interest rates as other loans, borrowers benefit from a much lower down payment of as low as 3.5 percent.

6. FHA-Approved Condo Developments Are More Desirable To Buyers. Homeowners associations (HOAs) should note that although FHA-insured mortgages might be easier to obtain, they are not “risky” loans, due in large part to the strict “full documentation” requirements placed on borrowers.

Individual buyers or sellers can initiate the approval process or current owners can encourage their HOA to apply. More information about the FHA- approval process is available at www.getfhaapproval.com.

7. FHA Loans Are Assumable. This unique feature will certainly make a property more valuable in times of rising interest rates.

Call Billings Real Estate Professionals for all your real estate needs.

Home Maintenance

2010-06-16T18:06:00.000-07:00

Throughout the seasons, your home has taken good care of you and your family and now is the best time to give back. Go through your property to evaluate and create a checklist on areas that need mending or replacement. This list is a crucial preparation before calling a contractor or handyman for maintenance and repair services. Some common maintenance and repair include:

-Waterproof the basement
-Re-caulk and replace weatherstrip
-Clean and seal wooden decks
-Trim bushes and trees
-Re-align downspouts and gutters
-Repair roof
-Clean the pool
-Mend the fence
-Seal cracks along driveways, foundation, walkways, etc.
-Maintenance of HVAC systems

For all your real estate needs call Billings Real Estate Professionals

IS YOUR HOME READY TO SELL?

2010-06-04T16:48:00.000-07:00

Facts:
A home buyer decides if they are attracted to a home within 8-10 minutes.

Only 10% of home buyers can visualize the potential of a home.

The U.S. Housing and Urban Development reports that sale prices of staged homes average 17% higher than un-staged homes.

Call Billings Real Estate Professionals to help you get your home ready to sell.

Home Improvement Projects based on Cost and Return on Investment

2010-05-25T13:22:00.000-07:00

1.Cleaning and de-cluttering this costs almost nothing and will increase the amount you receive on your house.
2.Home staging
3.Lightening and brightening
4.Landscaping curb appeal is important
5.Repairing plumbing
6.updating electrical
7.Replacing or shampooing carpets
8.painting interior walls
9.Repairing damaged floors
10.Updating kitchen
11.Painting out side of home
12.Updating bathrooms

The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen followed by painting the outside of the home and home staging.

Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home.

Call Billings Real Estate Professionals for all your real estate needs.

Green Landscaping

2010-05-17T18:22:00.000-07:00

Carefully positioned trees can save up to 25% of a household’s energy consumption for heating and cooling. Computer models devised by the U.S. Department of Energy predict that the proper placement of only three trees will save an average household between $100 and $250 in energy costs annually. On average your investment is returned in 8 years

An 8-foot (2.4-meter) deciduous (leaf-shedding) tree, for example, costs about as much as an awning for one large window and can ultimately save your household hundreds of dollars in reduced cooling costs, yet still admit some winter sunshine to reduce heating and lighting costs.

Landscaping can save you money in summer or winter. Well landscaped areas can reduce surrounding air temperature by as much as 9°F. Air directly under trees can be as much as 25°F less then areas nearby. Shade can reduce air-conditioning costs by 15% to 50% compared to an unshaded home. And as much as 75% when comparing small mobile homes.

Windbreaks can keep you home warmer in the winter by shielding your home against the colder wind. Homes with windbreaks placed only on the windward side showed an average of 25% less fuel consumption then similar unprotected homes.

Call Jacque Lorang, Billings Real Estate Professionals 690-5277

10 STEPS TO EARTH FRIENDLY YARD

2010-05-10T13:05:00.000-07:00

1. Do not overwater. Most people grossly overwater their lawns. Consider getting a free water audit if your water company offers one, or just turn the sprinkler off and observe the results. If your grass does not spring back when you step on it in the heat of the afternoon, it is time to water. Watering four times a week is too much in most parts of the country.

2. Water deeply. It is better to water deeply than frequently. Many lawns do well with 15 to 20 minutes at a time, once or twice a week. For maximum efficiency, give the water a chance to seep in: Water for 10 minutes, wait 20 minutes and then finish watering.

3. Get adequate coverage. If your sprinkler does not cover a spot, you end up with a dry area or an overwatered lawn.

4. Give the soil breathing room. Aerate your lawn once or twice a year in the spring or fall with a gas- or foot-powered aerator. This loosens the roots and lets water and fertilizers penetrate.

5. Try a lush look. If you keep your grass 3 inches high, it will shade out weeds, denying them the sun they need to grow and take over your lawn.

6. Reduce your lawn size. Less lawn means less watering. Consider a border planted with low-maintenance ground cover instead of grass.

7. Kick the chemical fertilizer habit. Do not pump too many nutrients into your lawn. One fertilization with an organic fertilizer in early fall is plenty.

8. Go natural. Insecticides with ingredients such as vinegar and orange oil are sold at many nurseries and boiling water kills weeds.

9. Keep grass clippings. Rather than removing them, rake them gently over your lawn. They’re free and rich in the plant nutrient nitrogen.

10. Consider low-maintenance grass. Ask your local university extension program or agriculture department to recommend a low-maintenance grass.

CALL BILLINGS REAL ESTATE PROFESSIONALS FOR ALL YOUR REAL ESTATE NEEDS.

GREEN HOME IMPROVEMNTS

2010-05-03T14:39:00.000-07:00

The top nine Green home improvements that real estate professionals recommend to home sellers based on cost and return on investment to the sellers include:

1. Plant trees and shrubs
2. Replace air filters
3. Green home staging
4. Weather strip and caulk doors and windows
5. Install programmable thermostats
6. Install low flow shower heads
7. Use auto turn-off power strips
8. Install CFL or LED lights
9. Paint with low VOC paint

Call Billings Real Estate Professionals for all of your real estate needs. 248-4409

STAGING ADVICE

2010-04-22T07:45:00.000-07:00

An absolute “must” for home stagers regardless of which demographic being targeted is color. Most sellers are instructed to use neutral colors when repainting. However, adding the right punch of color to accent walls can create depth, enhance kitchen cabinets, or bring a boring bathroom to life.

Homeowners can find color in simple accessories, like throw pillows, coffee table books, and decorative canisters. Neutral colors in flooring materials, upholstery pieces and window dressing work well because they enhance brighter accents.

Call Billings Real Estate Professionals for advice with selling your home
248-4409

First-Time Homebuyer Credit

2010-04-14T17:06:00.000-07:00

You only have until April 30 to sign a buy-sell with closing by the end of June, 2010 in order to get the $8,000 first-time homebuyer credit. There are now new rules on filing to get this credit. If you are working with one of our agents, contact your agent for up-to-date information on this. Give us a call at 248-4409

FIRST-TIME HOMEBUYER PROGRAMS

2010-03-29T19:34:00.000-07:00

If you are thinking about buying your first home or becoming a homeowner again after years of renting you may be eligible for assistance that can help you get into a home with less money down or a lower interest rate. The most important factor in finding the right programs is finding the right lender and a real estate agent who is willing to spend extra time and effort making sure you understand the process and are getting the best deal. It is very important to find a lender and an agent that have knowledge and experience in dealing with first time home buyers.
There are 5 main programs available in the Billings area. Give me a call to explain these programs and help you with them.

Jacque Lorang 690-5277 or email ablahoo@yahoo.com

FIRST-TIME HOMEBUYER CREDIT

2010-03-20T10:33:00.000-07:00

You have until 4/30/2010 to have an accepted buy-sell and close before 6/30/2010 in order to qualify for the $8,000 tax credit from the government. Even if you have owned a home before, you may qualify for this tax credit. If you want to change homes, you may qualify for the $6,500 tax credit. Please give us a call if you are interested in looking for your dream home.

Quiz for First-time homebuyer

2010-03-09T07:42:00.001-08:00

Are you a first-time homebuyer? Here are some quizzes from Kiplinger with helpful information in connection with your home purchase. http://www.kiplinger.com/quiz/home_buyer/

If you have questions, please contact Billings Real Estate Professionals and we will be glad to help you with your purchase.

Best Home Improvement Projects

2010-02-12T10:43:00.000-08:00

Home Improvement Projects based on Cost and Return on Investment
1.Cleaning and de-cluttering—this costs almost nothing and will increase the amount you receive on your house.
2.Home staging
3.Lightening and brightening
4.Landscaping—curb appeal is important
5.Repairing plumbing
6.updating electrical
7.Replacing or shampooing carpets
8.painting interior walls
9.Repairing dmaged floors
10.Updating kitchen
11.Painting out side of home
12.Updating bathrooms

The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen followed by painting the outside of the home and home staging.

Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home.

Home Inspections Important

2010-01-15T14:38:00.000-08:00

Home inspections are important to buyers because they may discover potential problems with their home purchase before those issues become apparent after residing in the home and naturally those problems then become their problems. Problems such as low water pressure, small water leaks,foundation problems,roof problems,drainage problems and the list could go on and on but the point is that the inspection can potentially reveal things about the home that are not readily apparent to the casual observer with a quick visual walk through. The inspection can also help the seller to recognize problems and possibly fix them before they become possible obstacles to a sucessful sale and closing. My wife Jo Ann & I believe so firmly in home inspections that we are offering FREE HOME INSPECTIONS for buyers or sellers that list or buy from us, valued up to $400.00. Just call or e-mail Larry or Jo Ann Thomas at 628-2903 or 545-9249 or e-mail larrythomasbrep@msn.com and tell us you saw our offer on the company website and wish to list or buy your next home from us and take advantage of our offer.

First Time Home Buyers Programs available in Billings MT

2009-12-31T11:03:00.000-08:00

5 Questions to Consider before Purchasing a Home

2009-12-19T13:40:00.000-08:00

1. Why are rates so low?
2. Are rates expected to stay this low?
3. Why do different mortgage surveys come up with different average interest rates?
4. What else does a consumer need to know?
5. So is now the best time to buy a home?

Give us a call to discuss these points. 248-4409

NOW IS THE TIME TO BUY

2009-12-12T13:48:00.000-08:00

The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week.
The rates were pushed down by an aggressive government campaign to reduce borrowing costs.
The rate, published Thursday by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971.
Contact Billings Real Estate Professionals to start the process to purchase that new home. 248-4409

Why Should You Buy Now ???

2009-12-05T09:16:00.000-08:00

The price of gold is steadily going up and has increased over 20% in the last two months. Why should that concern you, if you're not buying or selling gold ? Because as the price of gold goes up, the value of the dollar goes down. It takes more dollars to buy the same ounce of gold and therefore it makes those dollars worth less. And as the value of the dollar decreases it increases the pressure on inflation. Also all the stimulus dollars floating around the economy is also increasing the pressure on inflation since most the stimulus money is new money created by the government. More money in the money supply makes the existing dollars worth less.
The Federal Reserve Board has historically reacted to control inflation by raising interest rates. Right now interest rates are at an alltime low but after the 4th quarter reports start coming in around the 3rd week of January next year and inflation rears it's ugly head then the fed will almost certainly raise interest rates. You would be amazed at how much just a 1 percent interest rate difference would cost on a fixed rate mortgage of 30 years,literally thousands of dollars. And if they raise the rate, who knows when and where it will reach it's ceiling. So if there was ever an ideal time to buy, it's NOW, while interest rates are low and all the tax incentives like $8000 for 1st time homebuyers and $6500 for present homeowners to upgrade and $2500 to upgrade your home's energy efficiency are still in effect.
Call Larry or Jo Ann Thomas at 628-2903 or 545-9249 today and let us find your next home tomorrow.

Tips for buyers

2009-11-26T15:55:00.001-08:00

Interested in buying a home and claiming the home-buyer tax credit? Here are five tips:
1. Don't procrastinate. Start searching for a home now.
2. Don't count on another extension.
3. Mind the interest rates. Mortgage interest rates are low
right now, but could rise next year. Higher rates will
affect your monthly mortgage payments.
4. Communicate with your lender.
5. Don't take shortcuts. Don't forgo any of the steps you would
normally take just to make the tax credit deadline. Skipping
steps could cost you in the long run.

Give us a call to help you start looking for your new home.
248-4409

BASICS OF A VA LOAN

2009-11-07T13:20:00.000-08:00

A VA loan is not a loan from the VA, in actuality, the VA only insures the loan from a VA approved lender. This allows the lender to loan up to 100% of the appraised value of the home.
The lender will determine how much home you can afford by looking at your debt, income, credit scores and other criteria.
You will not have to come up with a down payment however, there are certain closing costs and a funding fee associated with a buying a home, however you can negotiate with the seller to pay these costs.
The VA will only provide the loan for your primary residence; therefore you may be able to buy up to a triplex as long as you plan on living in one of the units.
You may only have one VA loan at a time; however you may use your VA loan more than once. You must pay off each loan before obtaining the next.
The home you choose will have to pass meet certain criteria in order to get the loan, the standards for a VA loan are higher than a standard conventional loan. Items such as peeling paint or an outlet in the wrong place may disqualify a home. Also, mobile homes not on a VA approved foundation will not be approved.
Getting a VA loan is not much different then obtaining any financing except that you will need a COE--Certificate of Eligibility--from the veteran affairs office more info at va.gov. Once you obtain your COE take it into a lender along with all the information they request, the will pre-approve you at a certain price range.
Once you know how much home you can afford you can start working with a Realtor. Make sure that your Realtor is familiar with VA requirements for a home and understands the process.
A VA loan is not always the best option just because you are eligible, make sure you lender explains the benefits and negatives of each type of loan you are eligible for so you can decide what works best for you.
Call Jacque Lorang 690-5277 or e-mail ablahoo@yahoo.com

Finances, Insurance and You

2009-10-18T17:26:00.000-07:00

Any loan not guaranteed or subsidized by the government or it's agencies is called a conventional loan. With a conventional loan the lenders use as a standard an 80% loan to value which after the buyers good credit has been established is considered a safe loan. Many times the buyer is not able to pay 20% of the purchase price as a down payment and the lender will consider, usually at a higher interest rate, a 90% or higher LTV. In this event the lender will require private mortgage insurance ( PMI ). This insurance will cover the lender for the difference over the 80% LTV, in the event of the purchaser's default on the loan. The initial PMI preminum is paid at closing and the renewal preminum is added to the interest rate of the mortgage, usually around one half a percent or more. This PMI is only required for the amount over the 80% LTV. As the mortgage matures and the principal amount has been substantially reduced or the home owner has made some big improvements to add to the value of the home, the LTV may fall below the 80%. In this event the homeowner may request an evaluation to establish the home's current value, called a certificate of value. The lender will request an appraisal or a brokers price opinon to establish current value, usually paid by the homeowner. Once the value has been established and if the principal amount of the mortgage is below the 80% LTV, the homeowner may request that the PMI be cancelled and unless the homeowner has been more than 30 days late on their payments or their creditworthiness has changed drastically, the lender will cancel the PMI and the mortgage payments will be reduced by the amount of the renewal preminum. It is very important that the homeowner keep track of the principal amount of their mortgage as the mortgage matures because the cancellation of the PMI could amount to a substantial savings and some lenders will not notify you and continue to collect preminums that are not needed. Any questions or clarification call or e-mail Larry or Jo Ann Thomas at 628-2903 or 545-9249 larrythomasbrep@msn.com

Buying versus Renting

2009-10-11T18:21:00.000-07:00

There are many advantages to buying a home versus renting one. View these advantages in the Buy vs. Rent Comparison Chart:
http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH,
or view a financial comparison of buying versus renting in the Buy vs. Rent Calculator:
http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH.

Your income, savings, and monthly expenses play an important role in determining how large a mortgage you can afford. To figure out the amount you can afford, please check ffordability:
http://www.ginniemae.gov/2_prequal/intro_questions.asp?section=YPTH.

If you are interested in buying a home in the Billings area or any of the surrounding areas, please call us at 248-4409.

$8,000 for first-time homebuyer

2009-09-27T15:59:00.000-07:00

For first-time homebuyers--and you are a first-time homebuyer if you haven't owned a home in the last three years--you can get $8,000 if you purchase a home before 11/30/2009. You can even get part of this money up front in order to help with your downpayment and closing costs. Contact us for information and to have an agent help you with this.

Pricing your property--THE ABC OF MARKET VALUE

2009-09-13T09:47:00.000-07:00

Pricing a property based on the current market is the key to maximum exposure, a quick and trouble-free sale.
The value of any property is the price and terms where a buyer and a seller meet.
Truths- These factors truly determine the value of a home.
o Buyers determine by demand how valuable items such as location, design, amenities and condition are.
o Other sellers effect home values by providing competition
o The economy effects home values though interest rates and providing outlook.
Myths - These factors have little or no effect on the current value of a home:
o The price you originally paid for your property
o The amount you’re hoping to receive from the sell of this property
o The amount spent on improvements
Determining the market value:
By looking at the latest market activity we can determine an impartial estimate of a home’s current value. This estimate is called a Comparative Market Analysis, or CMA. In a CMA we look at properties that:
Have sold in the recent past – This shows us what current buyers have been willing to pay for similar properties.
Are currently on the market - These are considered competition. These are the properties that buyers will compare to and eventually choose between.
Failed to sell – These are the properties that were priced to high, we want to avoid ending up in this category, which is why the right price is so important.
For a free Comparative Market Analysis to determine how much your home is worth on today’s market call me, Jacque Lorang at 690-5277 or email ablahoo@yahoo.com

FHA Purchase & Renovation Program 203K

2009-08-28T10:54:00.000-07:00

FHA has a little known program that was primarily associated with HUD homes but is also available for 1-4 family dwellings. This program can be used to finance the initial purchase and repair or improve the property in one loan. It's called the FHA 203K loan program and it can be used to repair property that you are interested in purchasing all in 1 loan providing that you will use credentialed contractors, it can even include cosmetic improvements as well as major renovation. There is a minimum of $5000 in repairs or improvements and can be used for mixed use residential/commercial properties if eligible. Even a burnt out shell, incomplete shell or empty foundation may be eligible for 203K financing provided it is over a year old.
FHA will lend up to 98.15% of the future value of the dwelling after all completed repairs as long as you do not exceed the maximum FHA loan limit for the area of the properties location.
With this program you can purchase that home you looked at but were discouraged in buying because it needed too much TLC and you couldn't afford the cost of repair out of pocket, or the seller couldn't or wouldn't fix the problems. With this program those problems can be fixed and financed all in 1 loan.
Call or e-mail Larry or Jo Ann Thomas and ask about this fantastic program at 628-2903 or 545-9249 or
larrythomasbrep@msn.com

!!! BILLINGS IS NUMBER 1 IN THE NATION !!!

2009-08-18T17:42:00.000-07:00

BILLINGS now is ranked Number 1 in the Entire Country for expected Real Estate Price Appreciation !
Several months ago I commented that Billings was ranked no. 3 from Housing Predictor.com ( a web site that forecasts the real estate market nationally). Now they have increased Billings ranking up to Number 1 ! This is number 1 from 250 cities surveyed across the entire country ! The survey researches 20 different factors to arrive at their conclusions. Billings strong job market and overall good economic outlook were major factors in their predictions.
With the recent mortgage rate announcement from Freddie Mac, that 30 year mortgage rates are the lowest they have been since they started keeping records in 1971, can anyone question that NOW is the time, and the Billings market is the place to Buy or Sell Real Estate. Add to this, the new $8000.00 tax credit for 1st time homebuyers and you have many reasons to Buy or Sell NOW.
So if you have been sitting on the fence, wondering if this is the right time, wonder no more!
The time to BUY or SELL is NOW.
Call or e-mail Larry or Jo Ann Thomas today, to get your real estate transaction moving forward NOW.
Call...(406)628-2903 or (406)545-9249
E-mail... larrythomasbrep@msn.com or JoAThomasBREP@q.com

$8,000 First-Time Homebuyers Tax Rebate

2009-08-05T18:15:00.000-07:00

What is a first-time homebuyer? A person who hasn't owned a home within the last 3 years or wants to purchase a home and owns a mobile on a rented lot.

If you do not have the downpayment and closing costs, contact us on how to use the $8,000 tax credit toward these costs.

Roger Johnston, Broker/Owner Billings Real Estate Professionals 248-4409

2009-07-17T14:02:00.000-07:00

The Selling Process
OFFER AGREEMENT SELL!
By Jacque Lorang

When you list a home for sale, you are hoping to get an offer, here is a breakdown of the home selling process after you accept an offer:
Present you the offer:
v Go though the buy/sell agreement.
v Explain your options.
v Explain to you what will be expected.
v Negotiate with the buyers.
Getting to the closing table:
v Explain in detail all the steps that will take us to closing.
v Make sure that the transaction moves forward and all dates are met.
v Accommodate the inspection and home appraisal for the buyer.
v Preparing for the closing.
v Maintain communication.
The Closing:
v You, I and a closing agent will meet at the title company on the closing date.
v The closing will take about a half hour.
Not done yet:
v Follow-up to make sure all your expectations have been met.
v I will continue to be available to.
v Help you find your next home.

For more information on selling your home, contact me, Jacque Lorang 690-5277 or email ablahoo@yahoo.com
For a more detailed description of the Home Selling Process see the most recent post in our Archives section.

Top Ten Reasons You Should Professionally Stage Your Home

2009-06-11T19:23:00.000-07:00

1. $$$$- Statistics show staged homes sell for more money than their unstaged counterparts..
2. Sell Faster- Less time on the market means fewer double mortgage payments and less stress.
3. Recoup your costs and then some!
4. Help those with no imagination. Staging helps people visualize their lives in the home.
5. Don’t guess what works, let a professional use tried and true methods.
6. Only 10% of home buyers can visualize the potential of a home.
7. The longer a home is on the market, the less it typically sales for. STAGE FIRST!
8. Tax Benefits- The money you make may be tax-free. The money you spend is tax deductible.
9. Leaving your house in “as is” condition will help sell the competition.
10. You can relax.
For more info on selling your home and the use of professional staging call me, Jacque Lorang 690-5277 or email ablahoo@yahoo.com

THE FSBO MYTH

2009-05-28T20:06:00.000-07:00

In today's society of instant communication such as the internet, many homeowners assume they can save money by selling their home without a real estate agent. This for sale by owner is called a FSBO. Two questions with this assumption need serious thought.
1. Are you up to the task ? Do you have the time,knowledge and expertise to accomplish your goal, if so great?
However,most the population,about 85% are not familiar with real estate transactions and prefer to have a professional handle it for them. Most buyers are uncomfortable dealing directly with sellers because of the " BUYER BEWARE " syndrome.
So from the beginning you are limiting your potential buyers to only 15%. If you decide to expand your potential buyers to the 85% who will be using a professional by offering a buyers agent commission, that will solve the problem, right. Not really, because Realtors will ignore FSBOs unless their client requests to take a look at this home, because it complicates their procedure for only 1 home, when they could show 3 homes in the time involved through the MLS system they know and trust.
So essentially we are back to the 15% of potential buyers. Who are these people? Most of the buyers seeking FSBOs are BARGAIN HUNTERS,they are searching out homes that they feel can be purchased for less than market value and they are in no hurry. They can afford to wait until the FSBO becomes frustrated and hope to take advantage of their possible lack of knowledge and inexperience in the real estate market. In many cases they will make lowball or unreasonable offers.
2. Are you really going to save money?
A few statistical facts from The National Association of Realtors,82% of FSBOs ultimately list their home. NAR stats also tell us that FSBOs that do sell, sell for 15.4% less than Realtor assisted homes. So, you will do all the work,pay for all the advertising and still may end up selling for less than a Realtor.
Call Larry or Jo Ann Thomas at 628-2903 or 545-9249 and get the price and exposure your home needs.

1st Time Home Buyers

2009-05-08T14:03:00.000-07:00

By Jacque Lorang

1. Sit down and look over your financial situation and your goals.
2. Call a trusted lender, or ask friends and family for a reference of a good lender.
3. Gather the documents they requested and be on time to your appointment with the lender.
4. Now you know how much home you can afford, call a trusted Realtor, or again, ask friends and family for a reference.
5. At this point your Realtor should provide you with several homes that meet your price range and criteria for you to go look at.
6. When you find a home you like it’s time to write up the Buy/sell and negotiate with the sellers.
7. Once you have a buy/sell signed by both you and the sellers get your lender back in the picture.
8. While you are working with lenders, your real estate agent should be helping you schedule a home inspection.
9. Once the Home Inspection is done, your lender should help you schedule a Home Appraisal to make sure the home is worth the purchase price or more.
10. Finally you are ready to close on the home and transfer the deed from their name to yours.
11. Congratulations, the agent hands you the keys and you are now homeowners.
For more information on buying your 1st home or for a free 1st time home buyers packet to help you get started contact Jacque Lorang at 690-5277 or ablahoo@yahoo.com

2009-04-17T15:44:00.000-07:00

!!! BILLINGS IS NUMBER 1 IN THE NATION !!!
BILLINGS now is ranked Number 1 in the Entire Country for expected Real Estate Price Appreciation !
Several months ago I commented that Billings was ranked no. 3 from Housing Predictor.com ( a web site that forecasts the real estate market nationally). Now they have increased Billings ranking up to Number 1 ! This is number 1 from 250 cities surveyed across the entire country ! The survey researches 20 different factors to arrive at their conclusions. Billings strong job market and overall good economic outlook were major factors in their predictions.
With the recent mortgage rate announcement from Freddie Mac, that 30 year mortgage rates are the lowest they have been since they started keeping records in 1971, can anyone question that NOW is the time, and the Billings market is the place to Buy or Sell Real Estate. Add to this, the new $8000.00 tax credit for 1st time homebuyers and you have many reasons to Buy or Sell NOW. So if you have been sitting on the fence, wondering if this is the right time, wonder no more! The time to BUY or SELL is NOW.
Call or e-mail Larry or Jo Ann Thomas today, to get your real estate transaction oving forward NOW. Call...(406)628-2903 or (406)545-9249
E-mail... larrythomasbrep@msn.com or JoAThomasBREP@q.com

2009-04-07T18:35:00.001-07:00

Six reasons why you should work with a Realtor.

1. Help with a sometimes complicated process.
Buying or selling a home requires confusing forms, inspection reports, policies, mortgage documents, contracts, and a lot more. An expert with knowledge will help prepare you with the best deal and help avoid lengthy delays or costly mistakes.

2. Important info.
Realtors can provide needed information about the surrounding areas and the community. A Realtor should be able to answer questions or concerns you may have on the buying or selling process. If they do not have an immediate answer, they should know where to go or who to call to find out the information you need.

3. Finding the right property.
An agent will be able to build you a search based on your wishes and wants that you desire in your first home or your dream home.

4. Negotiations.
An agent will be able to help in negotiating in areas such as, inspections, price, terms, and much more.

5. Marketing.
Marketing is key in selling your home. Different areas of marketing include but are not limited to; Online, different newspapers, and agent yard signs. Open houses are important in showing the public your home. When you work with a Realtor, they can put your home in the system so that many other agents can see your home and then in turn show it to their clients.

6. Experience and Knowledge.
We as Realtors have a wealth of knowledge in the business, but we also should have brokers behind us 100% who have been in the industry for many years and here at Billings Real Estate Professionals, we do!

"When Team Work Matters"
Call us today to see what we can do for you.
Michelle Anderson 208-7128
Alicia Mader 690-8687

2009-03-29T15:54:00.000-07:00

First Time Homebuyers $ 8000.00 Tax Credit Available NOW !!!

First time homebuyers may be eligible for a tax credit for 10% of purchase price up to $8000.00. Meaning of course, if you purchase a home with over $80,000.00 purchase price, you could be eligible for the full $8000.00.
What constitutes a 1st time homebuyer? Generally, a buyer who has not owned a home within 3 years prior to purchase.
Does the credit have to be repaid? No, if the home is purchased between Jan 1 2009 and before Dec 2009 and not sold for 3 years.
Are there income limits to determine who is eligible ? Yes, up to $75,000 modified adjusted gross income for single and $150,000 for joint taxpayers.
What types of homes qualify? Any home purchased by an eligible 1st time homebuyer and used as a principal residence. The home may be a manufactured home, a modular and be real or personal property.
Can this credit be used for a down payment or closing costs? Yes, several mortgage brokers and lenders have developed a system to make this possible.
MORE QUESTIONS: Call Larry or Jo Ann Thomas today at 628-2903 or 545-9249. We are here to "HELP YOU TODAY FOR YOUR TOMORROWS"

2009-03-20T11:06:00.000-07:00

7 Reasons to Own Your Own Home
By Jacque Lorang

1. Tax breaks.
2. appreciation
3. Equity.
4. Savings.
5. Predictability.
6. Freedom.
7. Stability
For more information on each of these advantages check out the next post in our archives section.

To calculate whether renting or buying is the best financial option for you, use this online calculator courtesy of Ginnie Mae

2009-03-20T11:04:00.000-07:00

7 Reasons to Own Your Own Home
By Jacque Lorang

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, as well as some of the costs involved in buying your home.

2. Gains. Over last five years (1998-2002) national home prices have increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the National Association of REALTORS® found that the typical homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will rise.

6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

To calculate whether renting or buying is the best financial option for you, use this online calculator courtesy of Ginnie Mae.

2009-03-07T13:01:00.000-08:00

Top 10 Tax-Friendly Cities
Sunday, March 1, 2009 provided by Kiplingter
Tax rankings are based on 2007 tax return computations for a two-income couple earning $75,000 with one school age child. The real property tax is a function of housing values, real estate tax rates, assessment levels, homeowner exemptions and credits. The auto tax figure assumes the couple owns two cars and is based on the estimated registration fees, state and local gasoline taxes, and personal property taxes, if any.
No. 1 Anchorage, Alaska
No. 2 Manchester, New Hampshire
No. 3 Cheyenne, Wyoming
No. 4 Seattle, Washington
No. 5 Las Vegas, Nevada
No. 6 Jacksonville, Florida
No. 7 Sioux Falls, South Dakota
No. 8 Phoenix, Arizona
No. 9 Billings, Montana
Income tax: $2,559
Property tax: $1,865
Sales tax: $0
Auto tax: $689
STATE & LOCAL TAX BURDEN: 6.8%
Urban Facts: Billings taxpayers with adjusted gross incomes of less than $30,000 can exclude up to $3,600 of their pension income from state taxes.
Dubbed locally as the "Magic City," Billings is supporting growth by dunning its energy, agriculture, and transportation industries.
No. 10 Chicago, Illinois

2009-02-24T07:37:00.000-08:00

Selling Your Home

Selling your home can be a very frustrating and emotionally draining process. There are many factors involved but 2 of the key factors are price and exposure. Your home needs to be exposed to the maximum number of people possible in the minimum amount of time, to find those that are qualified and willing to purchase.
If your exposure is limited, your home may require more time to sell. This is self defeating to a degree because the more time your home is on the market, it gradually may become less likely to sell at the best price. A home on the market for long periods of time sometimes creates the impression with potential buyers that there is something wrong with this house and they may avoid it unless the price falls well below the market value. In fact, they may expect a much lower price because of this impression that a lengthy time on the market creates.
Therefore it is essential that your home is priced as near to fair market value as possible and receives the maximum amount of exposure. Selling your home can be very complicated and we have barely touched on only two of the factors involved.
You need a Realtor to find your fair market value and give your home the exposure it deserves. Call or e-mail Larry E. Thomas, and with my wife Jo Ann, we can help you in evaluating your home and selling at the best price in the least amount of time. 628-2903 or 545-9249 e-mail larrythomasbrep@msn.com

2009-02-11T09:11:00.000-08:00

First Time Home Home Buyer want tax credit from IRS?
Who is eligible to claim a $7500 tax credit?
Check this out:
1. What's the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to this purchase.
2. How do you claim the tax credit?
You claim the tax credit on your Federal income tax return.
3. What type of home will qualify?
Any home purchased as a principle residence by an eligible first-time home buyer. (See Limits for MAGI)partial credits are available for individual taxpayers with a modified adjusted gross income of more than $95,000 and for married taxpayers filing joint returns with MAGI of more than $170,000)
4. What is a tax credit?
A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $7500 in income taxes and who receives a $7500 tax credit would owe nothing to the IRS, in this year.
5. Does the tax credit have to be paid back to the government? If so, what are the payback provisions?
Yes, at this time the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit would be due from the profit on the home sale. If there was insufficient profit, the the remaining credit payback would be forgiven.
6. The first -time home buyer program should really be called a ZERO INTEREST Loan! Assuming an interest rate of 7%, that means the home owner saves up to $4200 in interest payments over a 15-year period.

Call me, Anita Wallace 671-4540, to find your dream home and claim your Zero Interest Loan

2009-02-02T11:38:00.000-08:00

Billings No. 3 In The Nation!!!
by Larry Thomas

With all the bad real estate news we have all heard lately, it makes one wonder, how bad is it here ? Well, not so bad according to a national online real estate search firm, Housing Predictor. Housing Predictor predicts that 5 montana cities will be among the top 25 cites in the USA in appreciation values percentages. Billings at No. 3 in the nation leads the Montana pack with a forecast of 3.1 % appreciation in home values for 2009, folowed by Bozeman at No. 9 , Great Falls No. 13, Livingston No. 14 and Missoula No. 16. So the forecast for Montana in general and Billings in particular looks pretty good. Just think of the top 25 in the nation, Montana has 5 which is 1/5 of the total in the whole USA !!!
Referring back to an earlier blog " Why Buy Now" that all real estate is local and the national market has very little relation to the local market, it looks like Billings is a good place to sell as well as buy.

Call me for your help in finding your new home or listing or present home.
Larry Thomas 628-2903

2009-01-26T09:53:00.000-08:00

10 Tips for First-Time Homebuyers
By Jacque Lorang

1. Be picky, but do not be unrealistic. There is no perfect home.
2. Do your homework before you start looking.
3. Get your finances in order.
4. Do not wait to get a loan.
5. Do not ask too many people for opinions.
6. Decide when you could move.
7. Think long-term.
8. Do not let your mortgage ruin you.
9. Do not be naive. Insist on a home inspection.
10. Get help. Consider hiring a REALTOR as a buyer's representative.
For more details on each of these topics check out the next post in our archives section. Thanks

For more information on buying your 1st home or for a free 1st time home buyers packet to help you get started call or email Jacque Lorang at 690-5277 or ablahoo@yahoo.com

2009-01-26T09:52:00.000-08:00

10 Tips for First-Time Homebuyers
By Jacque Lorang

1. Be picky, but don’t be unrealistic. There is no perfect home.
2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and your closing costs
4. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.
5. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best.
8. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
9. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year.
10. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment.

For more information on buying your 1st home or for a free 1st time home buyers packet to help you get started call or email Jacque Lorang at 690-5277 or ablahoo@yahoo.com

2009-01-17T10:50:00.000-08:00

What are subprime mortgages ?
by Larry Thomas

Most all of us have heard the term subprime mortgages in print media and television. What is it and what effect has it had on our current financial crisis ? The term itself is misleading because sub meaning below would lead one to believe that this type of mortgage is actually below the prime rate. In fact it means just the opposite, above the prime rate. It is a type of loan granted to individuals with poor credit histories( often below 600 ), who as a result of their deficient credit ratings, would not be able to qualify for conventional mortgages. Because subprime borrowers present a higher risk for lenders, subprime mortgages charge interest rates above the prime lending rate.
Many lenders were more liberal in granting these loans from 2004 to 2006 as a result of lower interest rates and high capital liquidity. Lenders sought additional profits through these higher risk loans and they charged interest rates above prime in order to compensate for the additional risk they assumed. Naturally with higher interest rates, one has larger monthly mortgage payments which increased the chances of default and eventual foreclosure, especially with borrowers that have a history of shaky money management. Consequently, once the rate of subprime mortgage foreclosures skyrocketed, many lenders experienced extreme financial difficulties, and even bankruptcy.
Larry Thomas 628-2903

Make Your 2009 New Years Resolution--Own a Home!!

2009-01-04T17:06:00.001-08:00

By Jacque Lorang
7 Reasons to Own Your Own Home
1. Tax breaks. Deduct mortgage interest, property taxes and other costs from your 2008 taxes.
2. Gains. Over last five years national home prices have increased at an average of 5.4 percent annually.
3. Equity. Mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan.
5. Predictability. Unlike rent, your mortgage payments don’t go up over the years.
6. Freedom. The home is yours.
7. Stability. Remaining in one neighborhood for several years lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
Call 690-5277 or email (ablahoo@yahoo.com) for a 1st Time Home Buyers Packet and to make your first move toward home ownership.

2008-12-31T09:11:00.000-08:00

SAVING TIME AND MONEY IN REAL ESTATE
by Kristine Glover

Finding the perfect home is a lot more costly when you have to spend a large chunk of cash on gas in order to search for potential homes. Visit with your real estate agent about very specific and important details regarding your next home it will save you a lot of time and in return save you money in the end.

Have your agent preview properties ahead of time, weeding out the properties that may have cost you time and money to drive and view. List the important facts about your new home to your agent .A location close to work, shopping, schools and more will save you time, and money when you consider the travel time from home to these destinations.
Ask your agent to include a public transportation directory to take advantage of public transportation saving you money and helping the environment.

Dispite the current condition of our economy It is still a wonderful idea to to invest in a new home or property. Be smart, Be choosy, Be happy!

Give me a call to help you find your perfect home. Kristine Glover 425-8282

2008-12-17T12:34:00.000-08:00

2008-12-17T12:32:00.000-08:00

First Time Home Buyers Programs available in Billings MT
By Jacque Lorang
If you are thinking about buying your first home or becoming a homeowner again after years of renting you may be eligible for assistance that can help you get into a home with less money down or a lower interest rate. The most important factor in finding the right programs is finding the right lender and a real estate agent who is willing to spend extra time and effort making sure you understand the process and are getting the best deal. It is very important to find a lender and an agent that have knowledge and experience in dealing with first time home buyers.
In this blog I will list and explain the basics of the 5 main programs available in the Billings area:
1. Home$tart- These kind folks will match you $3 for every $1 your family saves. The borrower can have up to $1667 to which Home$tart will provide $5000 to use for down payment and closing costs. A pro-rata share of the grant must be repaid if the home is sold within 5 years after the purchase, other than that there are no repayment obligations. The Home$tart program is open for first time home buyers and those who have not owned a home in the last 3 years that earn up to 80% of the area’s median income. In addition to being eligible by income, home buyers must complete a home buyer’s education class and qualify for financing with their lender. This program helps first time home buyers by keeping the initial expense of getting into a home down.
2. City of Billings- The City of Billings has a program where if the home buyer comes up with a minimum of $1000 they will provide assistance of $5,000 or $10,000 depending on the borrower’s income. There is an obligation to repay if the home is sold or refinanced prior to the 30 year term of the loan. Again, this program helps first time home buyers get into a home with less money down.
a. http://ci.billings.mt.us/index.asp?nid=114
3. Neighborhood Housing Services- A minimum investment of $500 to obtain the maximum loan amount of $5,000. Loans are paid back along with the borrower’s Montana Board of Housing mortgage payment over a 30 year term. This program is also in place to keep the initial costs of buying a home down.
4. Montana Board of Housing- This program provides loans at a lower interest rate. Currently they offer 30 year mortgages at 5.5%-6% interest rate. A lower interest rate means lower monthly payments. Again, the household must make less than 80% the area median income.
a. http://housing.mt.gov/Hous_BOH_SF.asp
5. $7,500 tax credit- If you buy a house between now and July 1, 2009 you are eligible to receive a tax credit up to $7,500 on your next year’s tax refund. This tax credit is actually more like an interest free loan. 2 years after you receive the credit you must start repaying it at a rate of $500 each year. The 1st year in a home can be very financially taxing, usually it takes most of your savings to come up with a down payment and closing costs, then there seems to be an endless list of things you need once you get into your new home. Hoses, lawnmowers, and a personal washing machine are something that most renters don’t think much about, but as a homeowner they become necessities and something the tax credit could help you acquire.
a. http://www.federalhousingtaxcredit.com/index.html
These are just a few of the programs available and just the tip of the iceberg as far as details on each program. If you are thinking about buying your first home give me a call(Jacque Lorang 690-5277) I would be more than happy to help you take the 1st steps and provide you with a packet full of useful information you can use to help on your journey.
*always consult your accountant as to the best program for you.

2008-12-04T09:57:00.001-08:00

Why buy now !!!
by Larry Thomas

All real estate is local and our real estate market here has little relation to markets elsewhere in the country. Our market in Montana and Yellowstone county is still very stable. Our local foreclosure rate is only a fraction of the rates in other parts of the country, primarily because sub-prime mortgages were not used very frequently in Montana. Mortgage rates are at an all time low and if you are thinking about a new home and qualify for a loan it would be wise to lock in a fixed rate now, because the rates may go up again at some time in the future.

Our economy in Yellowstone county is driven to a large extent by the new corporations and companies moving in to this area. Look at the big companies that have located here just recently, Cabela's, Kohl's and a new Wal-Mart in Laurel last year. In fact how many area's of the country can you name that have 3 Wal-Mart's within 25 miles of each other, probably few if any. And these big companies do their homework, they see the growth pattern and the potential for the future in Billings and Yellowstone county. The hospital district of Billings has expanded 3 times in the last 10 years and is still expanding. The last 10 years have brought tremendous growth to the heights and the west end of Billings and that growth although slowed somewhat now, will probably continue because our housing market here is still very reasonable compared to California, Florida or other large metropolitan areas.

Home owners motivated to sell are more apt to be realistic now because of the bad real estate news generated from other parts of the country. They don't realize that real estate is local and wrongly associate this market with those other markets.
So is now a good time to buy. You bet it is.

For more information contact Larry Thomas 628-2903 or e-mail larrythomasbrep@msn.com

2008-12-01T13:18:00.000-08:00

5 Reasons You Need a REALTOR
By Jacque Lorang

1. A real estate transaction is complicated.
2. Selling or buying a home is time consuming.
3. Real estate has its own language.
4. REALTORS have done it before.
5. REALTORS provide objectivity.
For more details on each of these reasons check out

For more information on buying and/or selling a home contact Jacque Lorang 690-5277 or ablahoo@yahoo.com

2008-12-01T13:17:00.000-08:00

5 Reasons You Need a REALTOR®
By Jacque Lorang1. A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.2. Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of _45_ days. And it usually takes another 60 days or so for the transaction to close after an offer is accepted.3. Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.4. REALTORS® have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.5. REALTORS® provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you.

For more information on buying and/or selling a home contact Jacque Lorang 690-5277 or ablahoo@yahoo.com

2008-11-18T17:14:00.000-08:00

Buy vs. Rent Comparisons

Advantages Considerations

Buy
Property builds equity
Responsible for maintenance
Sense of community, stability, and security
Responsible for property taxes
Free to change decor and landscaping
Possibility of foreclosure and loss of equity
Not dependent on landlord to maintain property
Less mobility than renting

Rent
Little or no responsibility for maintenance
No tax benefits
Easier to move
No equity is built up
No control over rent increases
Possibility of eviction

Here are two sites to use to calculate rent vs buying

http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH

http://www.vlender.com/cgi-bin/calc/rent_vs_buy.cgi

One of our agents would love to work with you in connection with purchasing your home. Please give us a call.

10 Easy Ways to Boost Property Value

2008-10-31T19:10:00.000-07:00

Billings Real Estate Professionals will try to give you informative articles to help you in connection with your real estate needs. If you are selling, here are ten ways to increase your property value.

1. Touch up exterior paint
2. Complete all needed repairs
3. Purchase a home warranty
4. Furnish the home to sell
5. Clean up front yard landscaping
6. Tidy up kitchen
7. Bathroom--dress it up with plants, candles, etc.
8. Clean carpet
9. Don't overlook closets--organize to make them appear larger.
10. Install soft and hard window treatments--over blinds add soft treatments hung from decorative fixtures.

Welcome!

2008-10-19T08:00:00.000-07:00

Welcome to Billings Real Estate Professionals. Our Real Estate Company specializes in personal and quality service to each client we serve. Small, medium, and large transactions will receive the same level of quality service.

Billings Real Estate Professionals has 30 experienced agents to help you with residential, investment, commercial, and ranch sales. The Broker, Roger D. Johnston, and some of our agents are also licensed to serve you in Wyoming.The Broker and many of the agents are long-time residents of Billings, Laurel and surrounding areas.

If you want to be treated special and with respect call Billings Real Estate Professionals for all your real estate needs.