Living in Billings • July 22, 2024

Mid-Year Real Estate Market Update: 2024

by Rachel Court

As we reach the midway point of 2024, let’s look at how our local real estate market is shaping up. Whether buying, selling, or just curious, here’s the scoop on what’s happening in Billings and the surrounding areas.

How’s the Market in Billings?

Home Prices:
Home prices in Billings have increased by about 5% since last year. Good news for sellers, and for buyers, it means the market is competitive but not overwhelming.

Inventory Levels:
Listings are down 8% from last year, but we’re seeing more homes come on the market as we move into summer. Stay alert if you’re house hunting!

Interest Rates:
Rates are just under 7% for a 30-year fixed mortgage. Higher than during the pandemic but still historically low. It’s a good time to lock in a rate if you’re buying.

Local Trends

Suburban Growth:
Areas like Lockwood, Laurel, and Heights are popular for their space and community feel, while still being close to Billings.

Downtown Revitalization:
Downtown Billings is bustling with new restaurants, shops, and entertainment. Look for condos and historic homes if you love the urban vibe.

What to Expect in the Second Half of 2024

Interest Rates:
Rates should stay steady, so consider getting pre-approved for a mortgage soon.

More Homes Coming to Market:
We expect a slight increase in listings, providing more options for buyers.

Buyer Preferences:
Homes with offices, larger yards, and extra space are in demand. Sellers, highlight these features!

Tips for Buyers and Sellers

For Buyers:

Get Pre-Approved: Shows sellers you’re serious.
Act Quickly: Good homes go fast.
Be Flexible: Consider different neighborhoods and potential renovations.

For Sellers:

Price Competitively: Attracts more interest.
Boost Curb Appeal: Simple upgrades make a big difference.
Be Ready to Negotiate: Flexibility can lead to a smoother sale.

That’s your mid-year update, Billings! The first half of 2024 has been exciting, and we’re looking forward to what’s next. Whether you’re buying or selling, staying informed helps you make the best decisions. Happy house hunting!

Living in Billings • May 15, 2024

Discover Hiking in Billings, Montana

by Rachel Court

Discover Hiking in Billings, Montana

As a lifelong Montanan, I LOVE the great outdoors! If you love it as much as I do, right here in Billings is a fantastic place to start exploring! Our area offers a variety of hiking trails that cater to all skill levels, showcasing the area’s natural beauty and unique landscapes.

Rimrock Trails

One of the highlights of hiking in Billings is the Rimrock Trails. These trails run along the stunning sandstone cliffs that overlook the city, offering panoramic views of Billings and the Yellowstone River Valley. Swords Rimrock Park is a popular spot, providing an easy hike with breathtaking vistas, perfect for catching a sunrise or sunset.

Phipps Park

For those seeking a bit more challenge, Phipps Park offers rugged terrain and fantastic views. The trails here wind through rocky outcrops and rolling hills, making it a great spot for a vigorous hike or a mountain biking adventure.

Four Dances Natural Area

The Four Dances Natural Area is another gem! This protected area features trails that lead you through picturesque meadows and offer stunning overlooks of the Yellowstone River. It’s a peaceful spot to enjoy nature and maybe even spot some local wildlife.

Zimmerman Park

Zimmerman Park is ideal for families and casual hikers. With several well-maintained trails that vary in difficulty, it’s a great place to spend a day exploring. The park’s trails also connect to the larger Rimrock system, providing ample opportunities for extended hikes.

Plan Your Hike

Whether you’re a seasoned hiker or just looking for a pleasant walk in nature, Billings has something to offer. Grab your hiking boots, check out my essentials for hiking, pack some water and snacks, and hit the trails to discover the natural beauty and scenic views of Billings, Montana. Happy hiking!

Living in Billings • May 15, 2024

The spring housing market is ‘getting back to normal’

by Rachel Court

As the flowers bloom and the days grow longer, the spring housing market is showing promising signs of getting back to normal. After a period of uncertainty and ups and downs, buyers and sellers are beginning to find their footing, and optimism is in the air.

Steady Mortgage Rates Bring Stability

One big reason for this newfound stability is steadier mortgage rates. According to Freddie Mac, the average 30-year fixed-rate mortgage has hovered around 7% recently, bringing a sense of predictability to the market. While these rates are higher than last year, their relative steadiness is helping buyers and sellers plan with greater confidence.

More Buyers are Getting Active

The warmer weather and stable rates are encouraging more buyers to jump into the market. Open houses are buzzing again, and people are eager to find their dream homes. This surge in buyer activity is a welcome sight for sellers, who are seeing more interest and offers on their properties.

Balanced Market Conditions

This spring, the market is showing signs of balancing out. The rapid price increases of the past few years are slowing, allowing for more reasonable negotiations between buyers and sellers. This balance is fostering a healthier market where both parties can feel good about their deals.

Positive Economic Indicators

Several positive economic indicators are also playing a role in the market’s return to normal. Employment rates are strong, and consumer confidence is high, giving potential buyers the financial stability they need to invest in new homes. Plus, the hope of possible Fed rate cuts later in the year is adding to the overall sense of optimism.

Renewed Confidence Among Sellers

Sellers are feeling more confident too. With more buyers out there and steady prices, many are finding it a great time to list their homes. The fear of missing out on peak selling times is fading, replaced by a sense of assurance that the market is on a positive path.

Looking Ahead

As we move further into the spring season, the signs of a normalizing housing market are becoming clearer. Buyers and sellers alike are adapting to the current conditions, and the overall feeling is one of cautious optimism. With steady mortgage rates, balanced conditions, and positive economic trends, the spring housing market is set for a stable and prosperous season.

Whether you’re looking to buy or sell, now is a great time to engage with the market and take advantage of the opportunities this spring has to offer. The housing market is blooming alongside the season, and it’s a wonderful time to be a part of it, lets get together and talk more!

Living in Billings • April 17, 2024

4 tips to reduce your stress – Stress Awareness Month

by Rachel Court

April being Stress Awareness Month feels especially relevant this year. It’s got me thinking about how important it is to manage stress and find healthy ways to cope with life’s challenges. Learning to navigate stress in a positive way can really make a difference in our overall well-being.

Here are four tips to help you manage and reduce stress:

Engage in Regular Physical Activity like hiking: Physical activity is a natural stress reliever. Whether it’s going for a walk, hiking, or engaging in a favorite sport, exercise can help reduce cortisol (the stress hormone) levels and release endorphins (feel-good chemicals in the brain).
Practice Deep Breathing and Relaxation Techniques: When you feel stressed, take a moment to focus on your breath. Practice deep breathing by inhaling slowly through your nose, holding for a few seconds, and then exhaling slowly.
Prioritize Time Management: Feeling overwhelmed by tasks can significantly contribute to stress. Break down your tasks into manageable steps and prioritize them based on importance and deadlines. Use tools like to-do lists or digital planners to stay organized and track your progress.
Establish Healthy Boundaries: Learn to say no to activities or commitments that overwhelm you or don’t align with your priorities. It’s okay to prioritize your well-being by taking breaks, delegating tasks, and asking for support when needed.

I’ve found that incorporating these tips into my daily routine has made a huge difference in managing my stress levels over time. It’s been a journey of trial and error, figuring out what works best for me. Patience and consistency have been key—sometimes it takes a bit of experimenting to find what really clicks.

Be sure to take care of yourself out there.

Living in Billings • April 17, 2024

The hidden costs of overpricing your home

by Rachel Court

If you’ve been thinking about selling your home, you might be thinking this spring season as an excellent opportunity – and you’re absolutely right. You know, we’re actually in a seller’s market at the moment because there just aren’t many homes up for sale. So at the right price point, the seller has all of the control. Historically, this time of year sees more buyers on the move and increased competition in the market and we are seeing that already in 2024.

This makes it an exciting time to hang up that “for sale” sign.

While conditions are great for sellers, we still need to be strategic when it comes to setting your asking price. Pricing your home too high may cost us in the long run.

Limited Buyer Interest: Potential buyers may overlook your property because it doesn’t align with their budget or perceived value. This reduces the pool of interested buyers.
Extended Time on the Market: An overpriced home typically stays on the market longer. The longer a property sits unsold, the more buyers may perceive it as undesirable or flawed.
Stale Listing Perception: When a home lingers on the market, it can develop a stigma of being undesirable or having underlying issues, even if it’s not the case.
Missed Opportunities: By pricing too high, you might miss out on potential buyers who could have otherwise been interested if the price were more competitive.

What is the solution, and how do you determine the price to maximize interest?

We collaborate, leveraging my market experience to analyze trends, research comparable sales, tap into my network of local brokers, and employ other strategies to pinpoint the ideal pricing spot.

Living in Billings • March 22, 2024

Unlock the potential of your equity.

by Rachel Court

Are you thinking about making a move?

Despite the challenges that the market may present, there have been noticeable improvements in affordability this year. While it’s understandable that you may have concerns about this, it’s important to recognize that gaining a clear understanding of your home equity can actually simplify the decision-making process for you.

Imagine equity as a simple math equation. It equals the current value of your home minus the amount you still owe on your mortgage. Surprisingly, your equity has likely experienced substantial growth recently.

With home prices soaring in recent years, the value of your home—and consequently, your equity—has likely surged as well. Therefore, you might possess more equity than you previously thought.

After we sell your house, you can use your equity to help you buy your next home. Here’s how:

Make a larger down payment: Your equity could also be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much money.
Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy your next home without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates.

Let’s work together to see how much equity you have in your home and find out what moves we can make.

Living in Billings • March 22, 2024

Hiking in Unpredictable Weather

by Rachel Court

Mia and I always have such a fun time hiking and this past weekend, we explored in Alkali Creek. One thing that is predictable this time of year is our unpredictable weather from day to day and honestly hour to hour. I love to grab these windows of sunshine and hit the trails.

One thing I like to do is to always be prepared, here are 3 ways to help prepare for your fall or bad-weather hiking and backpacking trips.

Bring the right layers for the outdoors. Always bring an option or a couple of options that you can add or take off if the weather suddenly changes. Try to add pieces that keep you warm whether they’re dry or wet, soak up moisture, and dry fast while still keeping you cozy.
Bring your hiking essentials. Earlier this month, I shared some of the things I like to have in my bag while hiking. These can help you if something goes wrong or if you have a sudden change in weather.
Have a good, calm attitude. Remember, we are hiking because we love it and it’s also great for our stress and physical health. Unpredictable weather can lead to challenging decisions, so a good, calm attitude is important. You need to be mentally prepared for weather — and plans — to change.

Here is the trail we did, I’d highly recommend it!

Living in Billings • March 5, 2024

Hiking Essentials – What to keep in your pack

by Rachel Court

I had to take advantage of this beautiful sunny morning this past weekend and take on the trail at Four Dances. The blue sky with the snow on the ground made for the perfect start to March! Last month, I shared some of my tips for hiking in winter and now I want to share the items I think are vital to start your hiking pack to keep you safe while exploring this beautiful state.

Here are some essentials to help keep you safe when you hit the trails:

Navigation & Communication: A maps or trail maps app on your phone, Satellite messenger (if you are going off-grid or out of cell service), paper map & compass
Sun Protection, even in the winter and under cloud cover, you still need protection like a broad-brimmed hat, gaiter, sunscreen, UPF clothing
Clothing: proper footwear, rain gear, and insulated clothing
Water: more water than you anticipate needing or pack a water filter
Food & Snacks: protein bars, trail mix, jerky, all of those are great to throw in your pack, always have some backups with more calories than you anticipate needing
Headlamp or a flash light: keep it fully charged and/or with a spare set of batteries
First Aid Kit: you can never be to careful and you can pick up a small one with antiseptic, bandaids and bandages
Knife (or Multi-Tool): small utility blade or a multi-tool
BONUS: Bag to pick up trash: Picking up trash you find on the trail is a great way to proactively make our community a better place.

What do you keep in your pack? Do you carry anything I should keep in mine?

Living in Billings • February 21, 2024

Winter Hikes – tips for hitting the trails

by Rachel Court

This is me in January on the Mystic Lake trail! it’s a great one to hit with snow shoes!

Winter hiking is such a great way to reclaim the season and remain active all year long! Whether you’re planning on hiking in the snow or just braving the deep freeze, all you need is the right gear and proper planning to have a great time!

There are a lot of great reasons to give winter hiking a try: no crowds, no bugs, no wildfire smoke, and the quiet calming serenity of the winter landscape. Especially if there’s been a dusting of snow, even trails you’ve hiked a million times before can be transformed into a magical winter wonderland.

Winter Hiking Tips:

Everything takes longer than you’d expect, so be cautious with how many miles you commit to.
Always check the weather forecast & trail conditions and plan accordingly (which might mean canceling).
Invest in quality winter clothing and learn how to layer properly.
Stay hydrated & snack frequently. These both play a big factor in body temperature regulation. Also, winter hiking takes more effort than summer hiking, so you’ll want to keep up on calories and stay ahead of the dehydration curve.
Always pack snow shoes just in case.
Even for short hikes, make sure you are bringing the essentials you normally carry. (GPS, sun protection, layers of clothing, water, food, first aid, etc.)
It is far better to identify and AVOID the hazards of winter hiking than it is to deal with their consequences.

My favorite local trail in the winter is Mystic Lake! Talk about breathtaking views! This trail with snow-capped mountains and blue waters is truly a Winter Wonderland. I am curious what your favorite trails are in the winter, let me know so I can check them out.

Living in Billings • February 9, 2024

My Annual Pie Party!

by Rachel Court

Thank you for a great night!

Home

Properties

About Me

Blog

Neighborhood News

©2023 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.