Silent for a Few Days

31 01 2011

In honor of my late Uncle Jeff, my blog will have a period of silence/reflection. Back to real estate info & tidbits late this week.


More Important Than Anything Else I’ve Ever Told You

30 01 2011

Remember to tell those around you how important they are to you.  It’s easy to be complacent and think “they know”.  It feels good to tell them & it feels good to hear it.  If you’re not careful, they’ll be gone before you can tell them again.  Be giving with the “I’m sorry’s” and the “I love you’s”.  It’s good for your soul.  In memory of Jeff Brown.  RIP.

Courtesy of IPX 1031 – Capital Gain Taxes Remain Unchanged

29 01 2011

Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011.  Some even scrambled to close the sale of property before the end of the year.  As it turned out, Congress extended the capital gain rates in mid December; at least for two years.  The following is a brief summary of portions of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (not surprisingly referred to as “the extension of the Bush Era Tax Cuts”) which are likely to impact real estate investors.

  • Capital Gain and Dividend Rates – Current rates were extended for two-years for all taxpayers with a maximum rate of 15% for both.
  • Personal Tax Rates – Current rates were extended for two-years for all taxpayers with the top rate remaining at 35%.
  • Social Security Tax – The employee tax rate of 6.2% on the first $106,800 of wages drops to 4.2% in 2011.
  • Alternative Minimum Tax – Current exemptions were extended for all taxpayers for two-years.
  • Estate Tax – An exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years; the exclusion will become indexed beginning in 2012.
  • Gift Tax – Like the Estate Tax, a Gift Tax exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years, with the exclusion being indexed beginning in 2012.
  • Other Extensions – The $1000 child credit; an additional standard deduction for real-estate taxes; extension of 15-year cost recovery for certain leasehold improvements, restaurant buildings and qualified retail improvements (through 2011); and the extension of various energy credits (through 2011).

Shocking! Billings, Montana Price Breakdowns

28 01 2011

Ok, not really, but here are the number of active listing in Billings Proper by Price Range (residential only).

  • $0-$100,000 – 56
  • $100,000-$200,000 – 397
  • $200,000-$300,000 – 224
  • $300,000-$400,000 – 81
  • $400,000-$500,000 – 31
  • $500-$750,000 – 18
  • $750,000 & up – 11

What price range is most popular in Billings, Montana?

27 01 2011

Almost double the amount of homes sold in the three months between $100,000-$200,000 than any other price range.  I know, you’re not shocked.  But, there you go 🙂

Bi-Weekly Real Estate Market Update in Billings

26 01 2011

Quick stats for all y’all.  🙂

For Billings Proper (Areas 1-10):

  • 819 Active (homes available for sale without offers)
  • 63 Closed in the last month
  • 198 Days of Inventory
  • 89 Listing went under contract in the last 30 days (accepted offers, but aren’t ready to close yet)
  • Average Sold vs. List Price = 97%
  • Days on Market = 71 (this is only from the current MLS number…it may have been on market one, two three times before…maybe the sign didn’t even come out of the ground….just taken off/put back on market with a new MLS number)

Billings Proper is defined as:

  1. Billings Heights (East of Main Street)
  2. Billings Heights (West of Main)
  3. Lockwood/Emerald Hills
  4. South Billings
  5. Blue/Duck Creek
  6. Downtown
  7. Northwest Billings
  8. West Billings
  9. Laurel/Park City
  10. Shepherd, Huntley, Worden, Ballentine, Pompy’s Pillar

Talk to me. What’s your biggest question in Real Estate?

25 01 2011

I’d love for this to be a two way street where I talk to you & you talk back.  Not in a fourteen year old “talking back” kind of way, which I was famous for, but in a way where you tell me your comments/concerns/questions/fears in regards to real estate.  I am here to be your source of informative, down to earth “stuff” related to real estate, and I’m having a hard time guessing what’s the most forefront in your mind.  I’d like to keep this as fresh & useful to you as I can, so please…comment below & tell me what’s on your mind.  🙂

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