Big Sky's Market Report - Q2 2019

Posted on July 19, 2019 by Amy Sand
Big Sky Sotheby's International Realty provides the latest real estate statistics for Big Sky and it's surrounding areas. Get the stats Q2 2019 Market Report and stay informed.
Seller’s Market

We are definitely still in a seller's market! 

In Big Sky overall Q2 2019 vs Q2 2018, sold volume increased 18% and average days on market decreased 21%. Prices moved upwards with average sold price increasing over 30%.

Buying a house in a seller's market

To compete against other buyers in a seller's market, you need to be prepared. First, you’ll need a mortgage pre-approval letter if you are not paying cash before you start shopping, that way a seller knows you can afford to purchase.

You may also have to waive some contingencies to edge out other buyers—or widen your search to neighborhood with less demand.

Other ways to make your offer more attractive include increasing the amount of earnest money that you'll put into the escrow deposit, writing a personal letter to the seller and, of course, offering above list price. 

We look forward to being of service in 2019 - wherever your real estate requirements take you.

Categories: Real Estate | MARKET TRENDS

Do You Need A Survey?

Posted on July 19, 2019 by Erin Mandeville

According to First American Title Company, one of the Top 10 Title Problems Sellers encounter during the home selling process is Boundary, Survey Disputes. “You may have seen several surveys of your property prior to purchasing, however, other surveys may exist that show differing boundaries. Therefore, a neighbor or other party may be able to claim ownership to a portion of your property.” That can be scary stuff!

Further, did you know that Title Insurance (provided by the Seller at closing on behalf of the Buyer to ensure clear title) doesn’t insure a Buyer against proper fence placement? Without a survey, you may think you own more, or less, property then you actually do if you rely on the fence placement as your guide. Particularly in Montana, it is important to check the location of the fence as often we see them installed without surveys, or locating the corner pins.

In my own neighborhood, I am watching a neighbor go through the struggle of assuming they knew where the fence should be located; as they relied on the location of my fence, and continued their installation in a straight line. Fun fact, our lots are not all parallel on the south side. In the distance between three homes, there is a nearly 5’ of difference between my properly placed fence line to the neighbors improperly placed fence. Can you imagine the cost of moving a gazebo, concrete pad, and fencing?

fence  fence

You know that phrase “the Devils in the details”? The details are what will set your real estate experience apart. At Sotheby’s International Realty, the details are our speciality. Are you thinking a survey might be appropriate for you? Give us a call, let us connect you with the specialists in our area, that’s what we do!

Montana Home Sellers Guide:

Categories: Real Estate
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