Page 43 - Flathead Beacon // 5.25.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
THE NUMBER OF FORECLOSURES HAS STEADILY been decreasing since the bottom of the local hous- ing crisis at the end of 2011. This week’s graph shows the total number of Trustee Deeds that have been recorded over the last six and a half years on a monthly basis.
Mortgages on properties with 40 acres or less are typi- cally written with a Deed of Trust, which allows the lender to foreclosure over a 120-day period. Mortgages on tracts larger than 40 aces are done with a mortgage documents that can take a year or longer for the foreclosure to occur.
In Flathead County there have only been 80 mortgage foreclosures on 40-plus acre tracts since the beginning of 2010, compared to 1,681 Trustee Deed foreclosures on smaller tracts. The high was in 2011 with 481 Trustee Deed foreclosures plus 11 full mortgage foreclosures.
In the rst four months of 2016, there have been 34 Trustee Deed foreclosures, which is down from 38 in the same period last year. There were two larger tract foreclo- sures in the rst four months of 2015 and four in that same period this year.
This graph includes residential, vacant land and com- mercial real estate. Based on the documents recorded, it is not possible to separate the various types of real estate.
0
FLATHEAD COUNTY (DEED OF TRUST) FORECLOSURES
60 50
40
30
20 10
JAN. FEB.
MARCH 2010
APRIL
MAY JUNE 2012 2013
JULY
AUGUST 2014 2015
SEPT. OCT. 2016
NOV. DEC.
2011
In 1981, Jim started Kelley Appraisal in Kalispell and has since built an extensive database of economic and real estate-related data on northwestern Montana. Over the last several years, he has published annual reports on the Flathead Real Estate Market and been a guest speaker on numerous occasions for various groups in the Flathead.
BY GEORGIA CHRISTIANSON
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $350,000 NEXT WEEK: $400,000
KALISPELL
COLUMBIA FALLS
WHITEFISH
BIGFORK
459 Third Ave. EN
850 Bailey Dr.
209 Whitetail Ln.
140 Shady Ln.
PRICE: $330,000
WHAT: Four-bedroom, two-bath home SQUARE FEET: 3,377
This distinctive home sits on a corner double lot on a tree-lined avenue. It features hardwood oors, stained glass windows and separate heated writer’s cottage or artist studio.
Montana Brokers, Inc.
MLS#: 21603245
PRICE: $349,900
WHAT: Three-bedroom, three-bath home SQUARE FEET: 1,934
Enjoy the wildlife and recreational opportunities right outside the back door of this log home. It sits on a large wooded lot, bordered by Nine Mile Creek and a just a short drive to Glacier National Park.
Rocky Mountain Real Estate, Inc.
MLS#: 21604911
PRICE: $364,000
WHAT: Four-bedroom, three-bath home SQUARE FEET: 2,694
This great family home in Mallard Loop features a nice open oor plan with master on the main level. Gas heated shop attached to garage.
National Park Realty of Montana, LLC MLS#: 21603228
PRICE: $364,900
WHAT: Four-bedroom, four-bath home SQUARE FEET: 3,696
This beautifully remodeled home includes new ooring, oak cabinetry and electrical. It also has underground sprinklers and an oversized attached double garage.
National Parks Realty of Montana, LLC MLS#: 21604940
If you would like your property listed in the Floor Space section,
please e-mail editor@ atheadbeacon.com. Entries are compiled by the Beacon sta and Georgia Christianson, Montana Brokers.
What would 30 years of successful real-estate experience do for you?
Call Georgia, a certi ed residential specialist for a free one-hour consultation.
MAY 25, 2016 // FLATHEADBEACON.COM
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