Ric Smith's blog

Summer on Flathead: August 2020 Newsletter

 

It is August, so hard to believe. After a wet and cool Spring right before July 4th the sun and heat switch turned on and it has been hot and sunny since then. The lake is amazing and everyone is enjoying long days on the water.

July was another very strong month for Century 21 Big Sky. We are averaging one a day, adding up to 31 sales for the month.

Outdoor Spaces Prove Important For An Escape

patio areaAs summer starts to turn up the heat then this may signal to some that it is time to update our outdoor spaces. If you are not comfortable outside or you are not able to relax then it robs you of somewhere that you can go to de-stress from a tough workday. This is especially important if you are staying at home more due to the current pandemic. Having a space to escape to will help you keep your sanity in these trying times.

Bidding Wars Fueled By Low Inventory and Mortage Rates

graph showing home price increaseThe low housing supply can be blamed on a great many things but the COVID-19 crisis has to be one of the top reasons. Many people pulled their homes initially because they were uneasy with strangers coming to their homes. While virtual open houses and other social distanced ways to sell and buy a home continue through the months some people have decided to relist their property. Combining that with the historically low mortgage rates then you may find many areas that are low on supply but have a high demand for properties.