Montana real estate still vibrant despite hitches

Missoula, Montana, May 10, 2007- Montana real estate is still considered a strong industry despite market and other economic hitches. This was the prediction made by Montana’s top realtors saying that the construction market in the area will survive the rising interest rates, not to mention the increasing cost of construction materials.

The rise interest rates have discouraged people to get primary or even secondary mortgages on their homes. Buyers and even sellers have taken a wait and see attitude before disposing of their real estate assets to ensure maximum benefit for them. This has resulted to a lag if not a halt in real estate transactions for a while.

Montana’s real estate market may have suffered a slowdown because of these factors but there is a strong belief among realtors that while the sale of new or principal residential properties is slow, the industry can take advantage of the increasing interest in second residential and investment properties.

Baby-boomers looking for their second homes are the best bet for realtors nowadays. This market is eyeing second homes that are located in scenic and attractive places. The primordial reason for his is because such investment is also being considered as a possible primary home or retirement home in the future.

Nothing comes close to real estate properties with scenic lake and mountain views than Montana, and this makes this place an ideal destination for primary or even second home buyers.

Montana real estate properties may have hiked its prices but compared to the price of real estate properties in California and other equally high-profile cities, Montana real estate prices are still pretty fair. Take this: A 2,000 square foot residential property in Montana can cost $160,000 while the same property can cost twice that amount in California.

Real estate investors who want quality living amid the backdrop of Mother Nature will sooner or later realize the significance of owning a property in Montana.

Considering Montana’s strategic location, real estate prices are still conservatively priced. And if only for this reason alone, Montana real estate is bound to bounce back before you even notice it; unfortunately, it may even have bounced back even before you bought your own piece of El Dorado.

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