Gillette Wyoming Blog

I came across this beautiful listing on Obeo home tours.. This is a beautiful home.

See it here: http://homesite.obeo.com/viewer/default.aspx?tourid=517271&refURL=&locale=en-US

Gillette Real Estate Market by Price – CLICK HERE

Hello Everyone and Welcome to Monday!

Attached is the latest update of the Gillette residential market. Comparing year over year, on average, home prices have closed 4% lower. Not bad considering the strange world we are in right now. As always, if you have any questions about the realestate market – just email or give me a call.

Have a great week!

Traci Conklin
Associate Broker
RE/MAX Professionals
307-682-6622 ext. 124
traciconklin@vcn.com
www.traciconklin.net

Hello Everyone!

Happy 2009. The housing market in Gillette is once again changing. Our housing inventory is decreasing. (It is my opinion that we need to maintain an inventory of about 300 homes in Gillette for a healthy market for our population) I believe in part the decrease is due to the fabulous interest rates that are currently being offered. The rates change from day to day but have been dropping below 5%. The biggest drop in inventory is in the $250 and below. Please email or call if you have any questions, if you haven’t refinanced your current loans NOW is the time!!!!!!

Real Estate Market Update 1-7-09

Traci Conklin
Associate Broker
RE/MAX Professionals
307-682-6622 ext. 124
traciconklin@vcn.com
www.traciconklin.net

Provided Courtesy of Traci Conklin – Re/Max Professionals of Gillette, WY – 307-682-6622 – traciconklin (at) vcn.com

Real Estate Market Outlook

We are current homeowners in Montana, relocating to Gillette. New jobs brought us here. We need a house to lease for one + years that will accept 2 pets. We do not want to sell our home in Montana yet, might be a long wait but waiting for housing market to come back. We are responsible homeowners , husband is Building Inspector/ wife also professional. Would you please help us get settled. Maybe your house has been on market and didn’t sell yet? You might consider us leasing it , paying mortgage for you while you wait to put back on market. We need a 6 month to one year agreement to give us time to decide where in Gillette we want to build. Please e-mail me at wigglewagglegrooms4u@gmail.com        Thanks !

Obeo is a great place to see a Virtual Tour of properties here in Gillette, WY. They take such wonderful pictures and panoramics. Plus you usually get about 10 to 15 good photos of the property you’re looking at. Here is the link to Obeo for Wyoming Listings. You’ll just have to refine your search by City:

CLICK HERE

Just found this link.. Very affordable starter homes in Gillette, WY for about $128,950.

Here’s the website: http://www.ashmeadows.net/

I just wanted to put in a BIG plug for the Gillette WY Real Estate Portal website which is getting more and more traffic than ever! It has a FREE Real Estate Classifieds Section where you can register and post your home for sale or rent. There is already a good variety of homes to look at right now. So if you are looking to BUY, SELL or RENT a home in the Gillette, WY area, this is the ticket because it is totally free. Here is the link: http://gillette-realestate.com
Just click on the Free Classifieds button!

Have a great day.
-Corey Bricker

Just a quick update on the Mortgage Industry. On the 1st of April we saw some significant changes that will affect the way mortgages are being approved. One of the biggest factors is the ability to obtain 100% mortgage insurance. The major players in the Mortgage Insurance business dropped their coverage to a maximum of 97% loan to value which will require all buyers to have a minimum of 3% down plus closing costs to get into a home. The credit score requirements have also gone up across the board. You will need a 660 or higher to be able to get in on the good MI rates and if your score falls below a 660, there is a substantial hit to the rate. The minimum score is a 620 for 97% coverage. If your score falls below a 620 then the MI coverage maxes out at 95% LTV.

Most investors have also tightened up the reigns a little bit too. As of the 1st of April most investors will have a minimum credit score requirement of approximately 580 for any FHA insured loans and a 620 for Conventional loans. The maximum Debt to Income Ratio regardless of FNMA or FHA guidelines will be approximately 50% DTI.

Of course we still have 100% financing for our 1st Time Homebuyers. The average out of pocket expense for WCDA buyers is about $1,300 to $1,500. WCDA requires the borrower to cover the cost of the appraisal, 1st year of insurance and the credit report.

Overall the rates are staying favorable and slowly dropping. This will be good for those looking to buy and especially refinance.

Best regards,

Corey Bricker
Loan Officer – 1st Natl. Bank of Gillette
307-686-3379
cbricker@fnbgillette.com

Feel free to contact me for your next mortgage consultation or if you just have some questions.