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Judy Kivela
Broker/Owner
    Years of Experience: 27

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

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

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The Laws are Changing for Butte Real Estate

Wednesday, October 28th, 2009

Not just Butte real estate, either. Since the end of 2007, as the real estate market started to decline, new rules, regulations, mandates and more have come down the pipeline.

State Specific Laws

Take Michigan, for instance. Ranking sixth in the nation on the number of foreclosures, Michigan legislature enacted the “Lifeline Law.”  This law gives an extra 90 days for homeowners to work with banks to come up with solutions other than foreclosure.  California did the same, with the California Foreclosure Prevention Act.  In New York, judicial hearings are mandatory for both borrowers and lenders before foreclosure can go through.

Nationwide Laws

Other laws have been enacted throughout the United States, such as Congress lowering homeowners’ tax deductions.

Before 2009, if you used your Butte real estate as a primary residence for at least two years out of the last five, you could keep up to $500,000 (married couples – $250,000 if single) in real estate gains on your tax return. That exemption is now pro-rated to the time you spent in the house, which could be quite substantially less than what your tax exemption would have been last year.

As well, new appraisal rules went into effect May 1, and, although they aren’t government rules, they do affect Fannie Mae and Freddie Mac loans. With the Home Valuation Code of Conduct (HVCC) put into place, every lender that goes through Freddie or Fannie has to follow the HVCC to the letter. The HVCC stops mortgage brokers from having home appraisals done themselves. Instead, the home appraisals must be done by a third party appraisal management company in the same area as the home.

Laws that Affect You

Other laws have been put into place that may (or may not) effect the Butte real estate you own or are looking to buy. However, with so many coming down the line, make sure that you ask your real estate agent what laws have been put into place that may affect your purchase, sales or ownership.

If you’re looking to buy or sell real estate and need a professional who keeps up to date on the real estate laws, I can help. Call me at 406-491-1234 or email me for more information.

Links:

Lifeline Law

http://www.wzzm13.com/news/local/story.aspx?storyid=111013&catid=48

California Foreclosure Prevention Act

http://www.corp.ca.gov/FSD/CFP/default.asp

HVCC

https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/appcode/pdf/hvccfaqs.pdf

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3 Ways to Improve the Indoor Air Quality of Your Butte Real Estate

Sunday, October 11th, 2009

When people think of environmental concerns, very seldom do they think of their home environment. Mold spores, carcinogens, allergens and more can fill up your Butte  real estate and create a bad environment. Here are a few ways to make sure your indoor air quality is as good as it can be:

  • Check for mold. Mold has a distinctive odor; somehow, it manages to smell both wet and dry, as well as musty. It can grow around windows, in the bathroom and in your air ducts. For windows, bathrooms and small areas within your home, you can clean the mold yourself wearing protective gear and using the right mold cleanup methods.
  • Check the ductwork. Mold, dust, insect parts and other small to microscopic pollutants settle in ductwork and then, when the air is turned on, flow out into the various units. I recommend leaving this job to professionals with the proper equipment.  Research green janitorial services in your area that specialize in environmentally safe cleaning practices and provide good indoor air quality through the practices.
  • Check your carpet. Carpets can be a big cause of bad indoor air quality. Some carpets contain a high level of VOCs (volatile organic compounds), which are emitted into the air as gases. Exposure to VOCs can cause nose and throat irritation, headaches, nausea, fatigue, dizziness and skin rashes. If you’re having any of these issues, your may want to replace your carpet with an eco-friendly carpet.

If you’re looking for eco-friendly Butte real estate, I can help. Call me at 406-491-1234 or email me for more information

Links:

Using the right methods

http://www.epa.gov/mold/cleanupguidelines.html

VOCs

http://www.aerias.org/DesktopModules/ArticleDetail.aspx?articleId=131

Eco-friendly carpet

http://www.greenyour.com/home/furnishings/carpet-and-rugs/tips

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3 Must-Have Kitchen Appliances for Trendy Butte Real Estate

Tuesday, September 8th, 2009

If you have some Butte  real estate to sell or you just want to raise the property value, keeping hip to the market trends is paramount.  Kitchens are one of the biggest selling points of any residential property.  Energy efficient and cost effective are the catchwords of the day, and recycled is the way to go.  Here are a few of the newest eco-friendly kitchen products that can find you buyers and up your property value.

  1. EverHot – Made by Water, Inc, the EverHot is an excellent addition to trendy kitchens.  No more boiling water, which makes it energy efficient and timesaving, EverHot is an under counter instant hot water heater.  It uses less electricity than a 40-watt bulb, but produces up to 60 cups of steaming water an hour.
  2. Whirlpool GS5VHAXWA – A refrigerator of amazing proportions, the Whirlpool is considered the most energy efficient of its type.  All sleek metal and beautiful lines, this Whirlpool model does everything other fridges do (including providing purified water and making ice) on less than 550 kilowatts a year.  Besides being energy efficient, it has the benefit of Whirlpools long history of excellent customer care.
  3. Bosch Dishwashers – Energy Star rated and highly rated by Consumer Reports on a regular basis, Bosch dishwashers are the cleaning appliances to have in your [city] real estate.  Critics rave about how quiet they are, and the company is the only manufacturer that uses EcoSense technology.  Push a button and the dishwasher is preprogrammed for optimum time, energy and water efficiency.  You can’t get better than that.

When you’re planning to sell or renovate your Butte  real estate, catch up with the trends, first.  Remember – green is the way to go!

If you’re trying to get your real estate ready to sell, I can help.  Call me at  406-491-5777 or email me for more information.

Eco-friendly kitchen products

http://www.greenandmore.com/kitchen.html

Whirlpool GS5VHAXWA

http://www.whirlpool.com/catalog/product.jsp?src=REFRIGERATORS&cat=96&prod=1574

EcoSense technology

http://www.greenbuildingsupply.com/utility/showArticle/?objectID=146

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4 Options You Can Negotiate When Buying New Butte Real Estate

Wednesday, August 26th, 2009

Are you looking to buy new construction?  Many people are, but just as many aren’t aware that their newly built Butte real estate comes with options and add-ons.  In addition, they see a handsome price on new construction and think they’ve stepped into an unbelievable deal, not understanding that the price they’re looking at is for “bare bones.”

Here are just a few of the options and upgrades you might want to have your real estate agent talk about with your chosen builder:

Flooring – The “standard” for flooring is cheap carpet and thin padding.  If you’re going for hardwood floors, you also may not get what you envision.  An important thing to keep in mind is that most builders make their money on the upgrades and options.  While they may offer upgrades for high quality flooring, it may actually be cheaper for you to buy it yourself and not through the builder.  Do your research and either have your real estate agent try to negotiate down to a price closer to what it would cost you, or have the builder use the cheapest material possible and ask them not to glue or tack it down.

Plumbing and fixtures - Whether you want improvements or additional plumbing and fixtures (such as for a wet bar or a different location for the washer and dryer), these are easier to do before the Butte real estate is finished.

Appliances - Check to see what brand and model the builder expects to use for your appliances.  Most times, your real estate agent can at least negotiate a better model, if not your preferred brand.

Doors – Doors, especially interior doors, are usually thin, non-insulated and easily damaged.  Although this may be fine in some areas, other areas may need better quality doors.  This is a definite place for your real estate agent and builder to negotiate.

Make sure you understand your options, upgrade packages and deals for the new Butte real estate before signing the contract!

If you’re thinking of buying new construction, let me negotiate the best price, and all the details, for you.  Call me before you start shopping for your new construction at 406-491-5777 or email me for more information.

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6 Credit Score Myths You Need to Know Before Buying Butte Real Estate

Friday, August 21st, 2009

If you’re buying Butte real estate, you might start worrying about your credit score.  Unfortunately, there are a lot of myths about that score, and many individuals actually end up making things worse by following them.

Read this list of common credit score myths and be in the know before talking to a lender:

1.  Close out your credit cards. This is a big no-no, especially when you want to buy Butte  real estate.  Closing out your older credit cards, especially, can actually make your credit score drop.

2.  Lower your credit limits. Lowering your credit limits can hurt your credit score.  Part of your credit score is based on how much credit you have available.

3.  Get good credit by paying all your cards in full. If you’re buying a home, part, if not most of the cost will be credited.  What lenders want to see is that you know how to handle credit, not that you don’t have any debt.  Instead, use 10% to 20% of your available credit and pay your bills on time.

4.  Comparison shopping for the best credit rates is a no-no. Not true.  However, if you’re comparison shopping, do so in a short period of time.  That way, all queries hit around the same time and get lumped into one “hard” inquiry.

5.  Checking your score can hurt you. You’re entitled to one free credit inquiry from each of the three top credit agencies per year.  Just make sure you’re the one who asks for your credit scores instead of having a friend at a financial institution do it for you.

6.  The more you make, the better your score. This is only true if you use the extra income to pay off your debts.  Making more money, by itself, will not increase your credit score.

Of course, you want to make sure you have the best credit score you can if you’re buying Butte  real estate.  However, before you listen to the hype and myths, make sure you know the facts!

If you’re looking for a new home, I can help.  Call me at 406-491-1234 or email me for more information.


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5 Things to Think About Before Renting Out Your Butte Real Estate

Wednesday, July 29th, 2009

If you have a piece of Butte real estate and you’re trying to figure out whether to sell it or rent it, here are a few things to think about before doing either:

1.  How much rent can you charge? Your rent will need to cover the costs, including mortgage, taxes and insurance.  In addition, you’ll need liability insurance, as well as an additional 5 to 10 percent for unexpected maintenance.  If your area’s typical rent amounts won’t cover your costs, you probably don’t want to rent.

2.  Do you have other ways to cover a down payment? If you’re moving to another piece of property, but relying on the equity in your current Butte real estate for the down payment, you don’t want to rent.

3.  Do you have the time? Being a landlord means extra responsibility.  Although it may not take a lot of time, that time can be inconvenient, especially if you have a full time job.  If you can’t picture yourself getting up at odd hours of the night to meet a plumber, you probably don’t want to rent.

4.  Can you afford to give up a tax break? The capital-gains tax exemption is one of the benefits of owning a home.  If you keep the property for five years and live in it for two, you won’t have to pay taxes on the first $250,000.  However, if you rent for more than three years before selling, you’ll owe capital-gains taxes on all of the profit.  If you can’t afford to give up the tax break, you probably don’t want to rent.

5.  Can you handle wear and tear? Not every renter will be careful with your beautiful French windows and teardrop chandeliers.  In addition, if your property has a lot of rooms it will probably attract families with kids.  If you can’t handle the wear and tear from different renters, you probably don’t want to rent.

Renting out Butte real estate isn’t for everyone.  However, if you’re trying to sell your property and having problems finding a buyer, it is something to consider.

If you’re trying to decide if you want to sell your home or rent it, I can help.  Call me today at 406-491-1234 or email for more information.

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Butte Real Estate Investment Ideas

Sunday, July 12th, 2009

4 Butte Real Estate Investment Ideas from the Pros

Real estate investments are still going strong and will probably continue to be a popular method of financial gain into the future. Real estate is solid. It is a tangible product that is attractive to both beginning investors and experienced pros. The most important part of getting started in Butte real estate investing is knowing what you’re getting into and what to watch out for. Here are 4 top tips from real estate investment professionals:

Understand the Realities
Real estate investment, like any form of investment, is risky. Do not use money you cannot afford to lose. Careful study, understanding the market, and practice help alleviate a lot of the risks but things happen in the best of situations so don’t play with what you can’t afford to lose.

Research is a Constant
Research in real estate investment isn’t something you do once. Research is constant. It is a daily part of your efforts and should always be at the forefront of your mind. From changing banking methods to market changes, researching and learning must be ongoing to be a successful Butte real estate investor.

Know the Property
Research isn’t limited to financing and the real estate market. You need to thoroughly investigate each property before you buy. Fill out a real estate investment worksheet to see if all the costs associated with the purchase will allow a satisfying profit.

Learn About Personal Protection
Taking risks with the money you have set aside for investment is one thing. Taking risks with your family’s savings, property, and other assets is another. Consider starting an LLC for your real estate investment.  You can choose from a single LLC to cover all of your real estate holdings, or having a separate LLC for each property purchased.

Learning the tricks of the top real estate investors allows you to profit from the experience of those who have gone before you. If you would like more expert advice on Butte real estate investments, give me a call today at (406)-491-5777 or email me.

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Three Things to Avoid When Preparing to Purchase Butte Real Estate

Tuesday, May 19th, 2009

If you are thinking about buying Butte real estate in the near future, there are three activities you should avoid. These are normal things we all do from time to time, but are unwise when contemplating a new mortgage application.

Change careers: This is different than just changing jobs. If you have recently gotten a new job in the same field, at the same or better pay, and your past history shows long, solid employment, all should be fine. Changing careers entirely is more of an issue. You have no history of steady employment and income in the new field. Since you’re new to the field, you may be bringing in less income than in your previous career. That’s why a recent career change makes your mortgage application less appealing to a loan officer.

Open new bank accounts: When you apply for a loan for Butte real estate you need to provide bank statements for several months. Although your money is still in your possession, moving it to new bank accounts generates a series of big withdrawals and deposits which gives an image of instability. If you have withdrawn large amounts of money and not re-deposited it, that looks even worse. Even if you invested the money in something solid, you no longer have the cash and thus appear less solvent.

Buy Big Ticket Items: The reason for this is simple. When reviewing a loan application for Butte real estate one of the biggest things a lender takes into consideration is your debt-to-income ratio. Purchasing expensive items on credit can negatively impact your debt-to-income ratio. Wait until after you’ve closed on your home to buy new furniture or appliances.

Thinking of buying a home? I can help you get financing and buy the home of your dreams. Give me a call today at (406)491-1234 or email me at Blog@judykivela.com

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Pick Up a Great Deal on Butte Real Estate

Monday, May 18th, 2009

Is the Timing Right to Buy Butte Real Estate?

There are many wonderful reasons to want a home of your own. Right now is an excellent time to pick up a great deal on Butte real estate. It’s definitely a buyer’s market where you can purchase homes at historically low prices. To be sure the time is right for you, answer a few simple questions for yourself:

Are you ready to stay put for more than three years?

If you move around a lot, have a job that sends you to different locales all the time, or just haven’t found the area you want to settle down in, it can be a bad time to buy [city] real estate no matter how great the price. Selling a home and moving is much harder than just switching apartments or other rental units. However, if you are ready to settle in a spot for a number of years, the value you get from owning your own home is well worth it, especially now.

Can you afford it?

There’s more to owning a home than just the cost of the mortgage. Other costs added to a typical mortgage include homeowner’s insurance and property taxes. These add hundreds of dollars a month to the simple mortgage costs. On top of those are routine repairs and upkeep that will be your responsibility instead of a landlord’s.

Do you value the pride of ownership?

For many people, the pride of owning their own home is a primary factor in purchasing Butte real estate. There is a feeling of success and security when you own your home that won’t be fulfilled with any rental.

If you’d like help determining if now is the right time for you to buy a home, give me a call at (406)491-1234 or email me at blog@judykivela.com

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  • Avg. Days on Market: 147

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