Whitefish Montana News: April 2008

Is Resort Real Estate Insulated from the Real Estate Recession ?

I believe that Recreational and Resort Real Estate is WAY different than regular real estate and that the market will Hold Strong for Resort Real Estate for the Most Part. However, I think recreational real estate with water, trees and real Montana recreation will hold value longer than Condos, Golf Resort Homes and the Like. The current real estate trend is Bigger than Local Real Estate and we cannot really escape it all. People, Buyers in other locations need to sell their homes where they are from in order to buy here, so that market needs to be stable more than just here.

Recreational Real Estate will always be attractive to someone, but if the nation, as a whole is in a Major transition, the way appraisals are done are changing forever, internet marketing is changine things and the mortgage industry is in a MAJOR transition, along with the Loss of Jobs - We cannot help but lose real estate values in Northwest Montana at some point. However, the Canadian Dollar is so good that they are still investing here in Northwest Montana and I do feel that recreational real estate will stay strong. However, the housing prices and the prices of lots has dropped, it is a fact.

I also don't believe that a LOCAL real estate appraisal
can really tell you for sure what the trend is. I believe, I know that
the MLS data is not monitered, sales data is not really an accurate home value and an appraiser can look at the data anyway he or she needs to.

When I get an appraisal, the Appraisor asks ME every single time, What I need it to come in at, some even want to see the buy sell (the purchase agreement). Why would an appraisor NEED to see a buy - sell to perform and appraisal, why can't they just simply give an appraisal value based on VALUE and not what is needed to make the sale. I am licensed in MT, Idaho and Oregon and this issue is not unique to Northwest Montana.

Whitefish Real Estate has always been a Unique and Expensive market
and has a different buyer pool than most other Northwest Montana
Real Estate Locations.

If you have Recreational Real Estate for Sale
in Northwest Montana, sell it Without a
Northwest Montana Realtor, they do not GET
internet marketing. Sell your Home yourself online,
and attract recreational buyers, and buyers that may want

real estate in other states, and they will be drawn to your
Real Estate for Sale.

Real Estate has Definately Changed Forever,
one day soon Real Estate Agents will be
a Thing of the Past.