This one did not take long to go under contract as it was priced to sell. I had it built in 2oo3 by Charter Construction, and it was a great rental from the get go. I never had any problems renting it in the nine years of owning it. It’s also held up well with minimal maintenance required. It is bitter-sweet because I kind of hate to let it go.
Duplex For Sale – 2627 O’Shaughnessy
I recently listed this duplex, which is conveniently located in Hellgate Meadows, just behind Four Paws & Home Depot, close to Reserve. This listing is owned by me (a licensed real estate agent in the state of Montana). It has been a great, low maintenance, rental the past eight years. For more details click on the “showcase listing” tab. If you want to see one of the units while it is still vacant, please me call soon while it’s easy to show, because it usually rents pretty quickly. 406.360.7835.
433 Plymouth Reduced to 270K
Just reduced 433 Plymouth to $270,000. I’m planning on doing an open house Wednesday evening 5-7PM. Please come check it out. This is house house been well maintained and has many nice upgrades including: updated wiring, blown in insulation, newer furnace, remodeled shower & kitchen, new windows, ceiling fans and in-ground sprinkler system. At this price, this neighborhood… come on now! This has got to be looking pretty enticing to those wanting to live in the slant street area.
LENDING TIGHT ROPE
A couple lenders came to our Portico office today to give us a heads up on what’s going down in the lending world. Well… this is all you need to know — Be fully prepared for closing delays. An onslaught of recent lender regulations has mortgage lenders struggling to meet closing deadlines. They are walking a tight rope these days. To save yourself a ton of anxiety just anticipate the lending aspect of a deal to have its snags. Then, if everything ends up running smoothly and you close on time, you’ll be pleasantly surprised.
OPEN HOUSE SUN 1-3PM
9625 Cedar Ridge Rd
I’ll be hosting an open house for KD this Sunday (7/24/11), 1:00-3:00PM up O’Brien Creek. Great barn-shaped home, nestled in the woods behind Blue Mountain, sitting on some nice acreage. It’s a beautiful spot, private yet only 15 minutes from Missoula. I love the deck at this place; come sit on it with me this Sunday. I’ll do my best to sign you in off of O’Brien Creek Road.
- 3 bed, 1 bath
- 2,016 sq ft
- Built 1980
- 11.64 acres
- MLS 20114489
Asking $329,900
CAN I KNOW WHAT SOMEONE ELSE IS OFFERING ON THE SAME PROPERTY?
The short answer is NO. The seller is not legally obligated to disclose other offers, let alone amounts. The selling agent is bound to his client’s wishes (within the state’s legal parameters).
From the NAR® Standard of Practice in the Code of Ethics guide – “REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, divulge the existence of offers on the property.”
The existence of multiple offers must be disclosed when a buyer or broker asks if there are other offers AND if the sellers agrees to disclose that another offer exists. There must be an inquiry and the seller has to be willing to disclose it. It will frustrate other agents if they are not told that there are existing offers on the table. However, in most cases, this isn’t going to happen because the majority of sellers invite the competition. It is usually to the sellers advantage to allow their agent to disclose if other legitimate offers exist .
Does a full price offer obligate the seller to accept it?
The answer is NO. It is unusual not to land a home with a full price offer, especially in today’s environment, BUT legally the seller does not have to accept any offer even if it is the listed price.
IS THERE A SAFE HAVEN?
YIKES! I’m getting this uneasy feeling… with all the heaviness around us – Irish & Greek banks going bankrupt, skyrocketing oil prices, ongoing political turmoil in Lybia & Egypt, the earthquake that has devastated Japan, a very weak US dollar, our daunting astronomical debt to China, and now… the US government is on the verge of a complete shutdown over budget cuts. All signals point to — What? Inflation? A bursting commodities bubble? Maybe a double dip (bite my tongue)? I just don’t understand what is propping this market up.
IF it all comes tumbling down, it’s a tough call to know where to be. It seems like there is no real safe haven these days. Maybe… just maybe, buying a rental could be a route to consider. Rates are still unbelievably low and average Missoula home prices have fallen 9% since 2007. This could be an opportunity to pull some of your profits out of the petering stock market rally, and invest in a rental property. Thanks to the University, the Missoula rental market is nearly recession proof here.
GONE FOREVER
Unfortunately I lost all the content to my blog. That’s right, two years of posts… GONE! It is my fault. I wanted the Pinto Properties main home page to be the blog (rather than “Featured Listings”), so I did some tweaking in the admin section. Well, apparently the template I was using did not appreciate my tweak. I couldn’t even get to the WordPress admin section to change it back. No! NO! NOooooo! This shall teach me to back my material up in the future. So… here we are, a fresh new blog to start chipping away at.
