Market Overview

Sales of Premium Properties Bring Confidence Back to Montana Real Estate Buyers

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Home buyers in Montana, just like any home buyer, have shied away from purchasing expensive properties during and after the housing crash—and they have reason to. They are gaining confidence in the market segment though as home buying activities climb in recent months for homes priced above the $425,000 mark, according to a new NBC News report.

The report said that realtors are “selling better” than they have since the recession and home owners and prospective home buyers are now warmer to the idea of buying homes with a heftier price tag in Missoula. This had been quite apparent among home buyers and investors who have attended this year’s Parade of Homes, which is an avenue for home builders and remodelers to showcase their work.   

“They saw a pretty heavy value depreciation, almost to 30-percent in some situations and virtually no sales for quite some time,” Missoula realtor Brint Wahlberg told NBC News.

Walhberg noted that while the market space has not recovered significantly from the housing crash as compared to middle and lower-tiered properties, recent data showed that the upper tier market is soaring.

“In the last 30 days alone, there has been 12 sales in just the Missoula Valley over $425,000, which compared to the last six years is really high,” Wahlberg said. Wahlberg shared his agency has sold some 35 premium properties since January, as compared with last year’s sales.

Seeing “for sale” signs being flipped to sold was also helpful to the community especially for those who bought homes before the downturn, Wahlberg added.

“What they see now is this resurgence in activity helps them regain a little bit in their lost wealth in their homes that they purchased before,” said Wahlberg.

Home buyers are also seeing value in the local property market as well.

“It's not the predominant part of our market, it's a small portion of it but it's a little more reassuring to see a little bit of top end recovery now,” Wahlberg noted.

Wahlberg also stated that the local real estate market in general has been modestly improving since 2011. The state’s real estate market was affected by the winter slump, however, just like the rest of the country’s sectors.

Real estate agents in Missoula can take advantage of the uptrend by using real estate technologies centered on videos or virtual tours to promote their listings and widen their reach. Realbiz Media Group, Inc. (OTCQB: RBIZ) develops proprietary video marketing software that agents and their brokers can use to promote their virtual tour listings online. The company offers a Virtual Tour Program that allows real estate sellers to create virtual tours and presentations that are optimized for mobile viewing and could be syndicated through social media for only $29.95 a month.

The program is equipped with a video search engine optimization (VSEO) tool that automatically generate meta tags and descriptions for virtual tours and listings agents have uploaded to the platform so that they would be found easily by consumers online.

The program also has tools for creating QR codes, e-flyers, and seller reports as bonus features.

To learn more about Realbiz Media and its products, contact sales@realbizmediagroup.com or call 1.888.REAL.BIZ (888.732.5249).

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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