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Judy Kivela
Broker/Owner
    Years of Experience: 26

    CRS: Certified Residential Specialist
    GRI: Graduate REALTOR® Institute
    CDPE Certified Distress Property Expert, SRS
    WHS: Workforce Housing Specialist

Direct: (406) 491-5777

Office: 406-491-5777



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Kivela Montana Realtors
3100 Harrison Avenue
Butte, Montana
406-491-5777


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Buying a House

Owning Butte Homes – Has the American Dream Died?

Friday, December 4th, 2009

Some people who are supposedly “in the know” believe the American dream of owning a home has died. They spout “facts” that say home ownership – not just for Butte homes, but also across the nation – is no longer on the minds of the majority of Americans.

Additionally, according to some of these individuals, suburban sprawl is the reason for:

  • the housing bubble burst,
  • the break down of social mores,
  • global warming (due to commutes, of course)
  • and more.

It’s amazing that the nation’s suburbs can cause so many problems, isn’t it?

Is the American dream of home ownership really dead? The number of people buying Butte homes versus renting them points to a definitive… maybe. However, in newspapers and on the Internet, we’re seeing tons of “if you can’t sell your home, rent it out” information. We’re seeing potential homebuyers being told that renting may be the best option. Why?

The economy, of course. While there are plenty of want-to-be homeowners, those same people choose to rent rather than own for a wide variety of reasons. The main reason, however, is that they think it will be cheaper.

When you first think of buying a home, it sounds like an overwhelming prospect with lots of money involved. However, while the down payment is much more than it would be for a rental property, it’s time to really look at the cost. Instead of example numbers, let me point you to Money-Zine.com’s Rent vs. Buy a Home calculator.

Now, before you start plugging in numbers, remember that the national average for a 30-year fixed rate mortgage is around 4.5% – 5%. The national averages for mortgage rates in general range from 3% to 5.5%. Of course, every situation is different, but think about it and really do your research before you decide whether to rent or buy one of our Butte homes. Don’t just assume it’s better to rent; renting may not be the cheap option you think it is.

If you’d like to find your piece of the American dream, I can help. Call me at 406-491-5777 or email me at judy@montana.com for more information.

Links:

Suburban sprawl:

http://en.wikipedia.org/wiki/Suburban_sprawl

Rent vs Buy a Home Calculator

http://www.money-zine.com/Calculators/Mortgage-Calculators/Rent-vs.-Buy-a-Home-Calculator/

Renting may not be the cheap option

http://customsites.yahoo.com/financiallyfit/finance/article-107589-2419-0-why-rent-when-you-can-buy

I Admit It – I’m a Biased Butte Real Estate Agent

Friday, November 13th, 2009

People have asked me about FSBO (For Sale By Owner).  They want to know whether it’s a good idea to use an agent and the answers to many other questions on this topic. I admit it; I’m biased. I am, after all, a Butte real estate agent.

I’ll even go a bit farther and admit that I’m biased about my hometown. As far as I’m concerned, if you’re going to buy a house, you should use me as your agent and buy a house in this city. But then, that’s what most real estate agents will tell you.

Without the bias, however, there are some real issues with not using a Butte real estate agent (or any agent, anywhere, for that matter).  And, there’s one BIG issue…

The Contract!

Okay, here’s the deal. A real estate contract, like any contract, is a sealed deal once the papers are signed. It’s legally binding and will be upheld in any court of law in the country, with few (and rare) exceptions.

If you don’t understand the contract you’ve signed, that’s too bad.  Lack of understanding does not constitute a dismissal of said contract. While some do manage to back out of a contract once it’s signed, to do so is expensive and stressful.

A wide variety of contracts can be borrowed from anywhere and have been. FSBO sites, as well as many other online sites and offline brick and mortar businesses, have “sell your house” contracts. For that matter, a contract written up by the owner, signed by the buyer with a notary stamp, without any legal representation on either part, is still legally binding:

I, the undersigned, am selling my house to the buyer for the agreed upon amount of money.

Buyer

Seller

Notary

A real estate agent will generally use a standard contract through your state’s Association of REALTORS® or their particular brokerage. What’s the difference, you ask? Quite a lot, but the biggest is that the contracts that agents use are created to fit the laws of each state. In addition, these contracts are not prejudiced towards the buyer or the seller.

Lastly, the buying and selling of real estate is full of potential issues and is a long, involved process. Call me proud and tell me I’m bragging if you want, but I’m good at what I do as a Butte real estate agent. It’s not something I think everyone can (or should) do.

So, if you’re considering going FSBO, take a second gander at this particular article and think hard. We’re not all evil; quite a few great agents out there sincerely want to help you meet your goals of buying or selling a home.

If you’re looking for someone to guide you through the pitfalls, I’d be honored to help. Call me at 406-491-1234 or email me judy@montana.com for more information.

Links:

FSBO

http://en.wikipedia.org/wiki/For_sale_by_owner

real estate contract

http://www.wisegeek.com/what-is-a-real-estate-contract.htm

Back out of a contract

http://money.cnn.com/2009/03/10/pf/saving/mortgage_willis/index.htm?postversion=2009031010

Face Those Buying Fears on Homes for Sale in Butte

Wednesday, October 21st, 2009

Halloween is just around the corner, but if you’re looking at the homes for sale in Butte, it’s probably the first-time buyer fears that have your knees shaking. Hey, buying a house seems like such a final thing, so that’s understandable. It could be the biggest change in your life – EVER!

Now that I’ve thrown some scary thoughts your way, let’s take a turn at facing those first-time buyer fears.

  • Am I crazy? No, you’re a first-time buyer. You may alternate between periods of paranoia, confidence, nervousness and calm, but you aren’t crazy to want to buy one of the homes for sale in Butte.
  • Is this really the right time to buy a house? The best way to answer this question is with a few questions. Do you have good credit? Do you have a decent job? If the answers to these questions are “yes,” then there’s never a bad time to buy the right house. Especially now, with tons of inventory, record low interest rates and the $8000 tax credit.
  • What if I don’t pick the right neighborhood? What if I buy, move in, hate it, and then can’t turn around and sell the house? An understandable fear; one of the most common horror stories is moving into the perfect house, right next to the neighbor from the Black Lagoon. This is why it’s imperative to do your research (or, at the very least, tell your real estate agent exactly what kind of neighborhood you want). With the Internet, you can find out everything from the crime rate of an area to the quality of the schools.
  • What if I lose my job? I won’t say that’s not a possibility. However, keep in mind that you have the same question when you’re renting. The difference is that if you can’t pay the rent, you can be evicted within days, depending on where you currently live. While some lenders may do the same, most lenders don’t want to foreclose and are willing to work with you to keep you in the home and making your payments. In addition, many are willing to wait for at least two months of nonpayment before starting the foreclosure process.

If you’ve been a renter all your life and are looking at the homes for sale in Butte, take a deep breath. Yes, it’s scary and yes, the worries can give you worse nightmares than the freakiest Halloween you’ve ever experienced. However, remember what made you decide to start looking in the first place. If those reasons still exist, go for it!

If you’re looking for that perfect, affordable home, I can make the whole process less scary and fear free. Call me at 406-491-1234 or email me at judy@montana.com for more information.

Links:

Record low interest rates

http://www.cnbc.com/id/32350362

Crime rate of an area

http://www.bestplaces.net/Default.aspx

Lenders don’t want to foreclose

http:/howto-you.com/family/episode-36-why-lenders-dont-want-to-foreclose

Horror Stories to Avoid When Buying a House in Butte

Sunday, October 4th, 2009

Everybody has a horror story of some kind, when talking about Butte real estate. There are just some things most people don’t think about when searching for property to buy or sell, whether you’re the buyer, the seller or even, yes, the agent.

Exhibit A

Sheryl (name changed to protect the innocent) is exhibit A. Now, she thought she’d bought a nice house at a good price. Everything seemed to be perfect. The one place that Sheryl went wrong was forgetting to do a home inspection on that beautiful piece of Butte real estate.

After a pleasant day of moving in, she went to take a shower. Turning on the faucet, she noticed the water pressure wasn’t what it should be. Ignoring the indications of worse yet to come, she flipped from faucet to shower. Only a few lonely, sad drips came from the showerhead. To compound the issue, she discovered that the washer didn’t have enough pressure to get her clothes clean, washing dishes was an exercise in futility and if a hose was turned on in the garden the second story toilet wouldn’t flush.

After much ado, many phone calls and two plumbers, Sheryl found that the beautiful tree in the front yard that had sealed the deal had also burst the pipes. She now had to pay to have the tree removed (it couldn’t be saved), as well as the pipe dug up and replaced. In addition, she owed the water company for all the water lost through the break.

The moral: Don’t skimp on the details just because you’re under pressure.

Exhibit B

Bob, a real estate agent (again, name changed), still loves open houses. They’re a big deal for him and he makes plenty of contacts that way. However, even Bob, who has been in the industry for years, forgot to do a last walk through before a certain open house started. Unfortunately, he and the potential buyers found an unpleasant surprise in the upstairs bathroom, deposited thoughtfully by the current owner. In trying to take care of the surprise, he found the toilet was blocked and the bathroom fan didn’t work. Needless to say, the potential buyers didn’t stick around to tour the rest of the house.

The moral: A short walk-through can save a lot of embarrassment.

With any Butte real estate, there’s always the chance that you’ll miss something. A homebuyer’s checklist or home seller’s checklist is a great way to make sure you don’t. If you do, try to take what comes with a grain of salt, a lot of patience and as much of a smile as you can muster.

If you’re trying to find a great home without the horror, I can help. Call me at 406-491-1234 or email me for more information.

Links:

Water pressure

http://www.hometips.com/repair-fix/low-water-pressure-problems.html

Open houses

http://homebuying.about.com/od/sellingahouse/qt/OpenHouse.htm

Homebuyer’s checklist:  If you have your own homebuyer’s checklist link, to it.  Or create one (or have your Virtual Assistant create one) that you can give away in exchange for people giving you their name and email address.  If you don’t have one, you can use this link instead:

http://www.doghousetodollhouse.com/Home_Buyer_Checklist.htm

Market Recap

  • Avg. Sales Price: $102,209

  • Avg. Days on Market: 119

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