New Construction 2016 by Billings Gazette

New Construction 2016

NEW Homes Starting at $263,500 Trails West new homes are quality homes built by our hand-picked teams of carpenters, electricians, etc. We have over ten home plans to choose from for every taste, style and age — ranchers, two stories, and tri-level. Our team is committed to build homes that are low maintenance, energy efficient and offer maximum use of space. Homes at Trails West have a variety of designs which will complement the lifestyles of all families. Your new home will give a fun meaning to livability. Owning a high quality home is sustainable and affordable in Trails West subdivision.

OpEN SuNdayS 1-3 pm clark’s fork

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FUTURE PHASE LOTS & HOMES CURRENT PHASE LOTS & HOMES PREVIOUS PHASE LOTS & HOMES (SOLD)

beartooth

1878 sq ft | 4 bedrooMs 2 ½ baths | 2-3 car GaraGe

secoNd floor 1160 sq ft

dayliGht 759 sq ft

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D O N I R W INDUSTRIES SERVING MONTANA & WYOMING SINCE 1986

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Inside Guide to Buying a Home....................................4-5 How to Choose a Home Builder......................... 7 New Construction List to Sales Price...........10 Preparing to Buy a Home in 2016............10-11 Questions to Ask Your Home Builder............12 New Home Closing Rules....................................14 New Construction is a special advertising section of The Billings Gazette. General Manager Dave Worstell Advertising Director Ryan Brosseau Advertising Manager Shelli Scott Special Sections Coordinator Spencyr Schmaltz Access New Construction at www.billingsgazette.com/specialsections

Guide to Buying a Home By KIM WELZENBACH, EXECUTIVE OFFICER Home Builders Association of Billings If you are thinking of buying a new home, you must pay close attention to many details to ensure that you find one that will suit your needs and preferences. Before you start shopping, you should sit down with the members of your household to discuss your preferences and the many options available to you. Here are some things you should consider: Step 1: Financing Your Home The first step in the home buying process is determining how much you can afford. To ensure that the financing process goes smoothly, buyers should consider pre-qualifying for a mortgage and having a financing commitment in place before shopping for a new home.

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Step 2: Prioritizing Most-Wanted Features Before you start shopping, you should sit down with the members of your household to discuss your preferences and the many options available to you. An easy way to organize your thoughts is to write each separate feature that you

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the complex, the parking areas, building exteriors, hallways, utility pipes and recreational facilities. A condominium owners association is responsible for maintaining the jointly owned elements. The day-to-day business of the complex is generally handled by a managing agency.

want on a 3” x 5” card, and arrange the cards in order of their importance to you. For instance, if you like to cook, you may want a home with a large, wellequipped kitchen. Or you may settle for a small kitchen, so that you can have extra space for a library, office or playroom. Some home buyers seek large, open interior spaces, while others prefer traditional rooms that afford more privacy. While looking for a home, consider whether your needs are likely to change over time. If you plan to add rooms, find out if there is enough space on your site for such expansion and whether such additions are permitted by your local jurisdiction. Step 3: Selecting the Type of Home Options include single-family homes and condominiums. Some home buyers prefer homes with large yards. Others opt for condominiums where they can avoid yard maintenance entirely.

Step 4: Starting Your House Hunt

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With a single-family home in a development, you’ll be responsible for your own yard and home, but may be restricted to certain design elements or other regulations if there is a home owners association.

A condominium is a home in a multi-unit complex, such as an apartment building or a townhouse cluster. You own the home, and you and your neighbors jointly own the common elements, such as the land around

Now that you know the type of home and features you are looking for, and how much home you can afford, you’re ready to begin searching for your perfect home. Whether you use a realtor to find an existing home or work with a builder to buy a new home, you’ll be more focused with your search. The Home Builders Association of Billings can assist you in finding a local reputable builder. Contact the HBA at 406-252-7533 or hbabillings.net. The Billings HBA is located at 1645 Avenue D, Suite F in Billings.

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If you’re looking for the perfect, quiet place to build your new neighborhood, this is certainly worth the visit.

Prefer water and trees over towering mountains? Don’t choose between the two. This parcel has it all--

Trees line a bubbling brook, but break away at the entrance to this appropriately named subdivision, giving 360 degree views of the mountains near Red Lodge and Roberts.

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How to Choose a Home Builder By KIM WELZENBACH, EXECUTIVE OFFICER Home Builders Association of Billings If you’re in the market for a new home, you should shop for your builder as carefully as you shop for your home. Whether you are buying a condo, a townhouse, a house in a subdivision or a custom-built house, you want to know that you are buying a good quality home from a reputable builder. Here are some tips to help you choose a builder. Make a List of Possible Builders Once you have thought about the type of house you want, you can create a list of potential builders. Contact your local home builders’ association to obtain a list of reputable builders who construct homes in your area. In Billings contact The Home Builders Association of Billings at 406-252-7533 or hbabillings.net.

of questions — of both the potential builders and the owners of their homes. Interview potential home builders to get the answers to all the questions you have. Then, visit a builder’s recently built homes and subdivisions. Drive by on a Saturday morning when home owners may be outside doing chores or errands. Introduce yourself and say you are considering buying a home from the builder who built their home. Talk to several owners, and try to get a random sample of opinions. The more people you talk with, the more accurate an impression of a builder you are likely to get. Some questions to ask home owners include: Are you happy with your home? If you had any problems, were they fixed promptly and properly? Would you buy another home from this builder? Do Your Homework Usually, people tell you if they When you have a list of potential are pleased with their homes. And if builders, it’s time to start asking lots they are not, they’ll probably want to Look in the real estate section of your local newspaper for builders and projects. Looking through the ads and reading the articles can help you to learn which builders are active in your area, the types of homes they are building and the prices you can expect to pay. Make a list of builders who build the type of home you’re looking for in your price range. Local real estate agents may also be able to help you in your search. The Billings HBA can also provide you with a list of realtors that work with HBA member builders. Ask friends and relatives for recommendations. Ask about builders they have dealt with directly, or ask them for names of acquaintances who have recently had a good experience with a builder.

tell you why. At the very least, drive by and see if the homes are visually appealing. When you talk to builders and home owners, take along a notebook to record the information you find and your personal impressions about specific builders and homes. Doing so will help you to make comparisons later. Shop for Quality and Value When examining a home, look at the quality of the construction features. Inspect the quality of the cabinetry, carpeting, trimwork and paint. Ask the builder or the builder’s representative a lot of questions. Get as many specifics as possible. Never hesitate to ask a question. What seems like an insignificant question might yield an important answer. Remember to contact the local Home Builders Association. The Billings HBA is located at 1645 Avenue D, Suite F in Billings.

Silver Creek Estates Subdivision Silver Creek Estates is a beautiful new subdivision in Northwest Billings developed by Boyer Land, LLC.

1550 Poly Drive | 406.254.1550 floberg.com ©2016 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.

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ADVERTISER MAP 1. BHHS Floberg Realestate Silver Creek Estates, Billings, MT 59101 406-254-1550

10. BHHS Floberg Realestate Paradise Meadows, Roberts, MT 59070 406-254-1550

2. BHHS Floberg Realestate 4222 Woodgrove Drive, Billings, MT 59106 406-254-1550

11. BHHS Floberg Realestate Rock Creek Subdivision, near Red Lodge, MT 406-254-1550

3. BHHS Floberg Realestate 6276 Timbercove Drive, Billings, MT 59106 406-254-1550

12. Billings Federal Credit Union 2522 4th Ave. N., Billings, MT 59101 406-248-1127

4. BHHS Floberg Realestate 3971Trailwood Drive, Billings, MT 59106 406-254-1550

13. Billings Federal Credit Union 760 Wicks Lane, Billings, MT 59105 406-248-1127

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14. Billings Federal Credit Union 3210 Henesta Drive, Billings, MT 59102 406-248-1127

6. BHHS Floberg Realestate 3110 Peregrine Lane, Billings, MT 59106 406-254-1550

15. Carpet One 505 S. 24th St. W., Billings, MT 59102 406-656-9300

7. BHHS Floberg Realestate 3121 Peregrine Lane, Billings, MT 59106 406-254-1550

16. Craigo Construction 1042 Broadwater Ave., Billings, MT 59102 406-325-2003

8. BHHS Floberg Realestate 3061Winchester Trail, Billings, MT 59106 406-254-1550 9. BHHS Floberg Realestate Riverfront Pointe Subdivision, Billings, MT 59101 406-254-1550

BILLINGS BILLINGS HEIGHTS

2 3 10

11 6 5 7

1 29

27 16

25 17

24 30

9 28

19. Little Horn State Bank 835 N. Center Ave., Hardin, MT 59034 406-665-3623

22. Stockman Bank 402 N. Broadway, Billings, MT 59101 406-655-2400

25. Stockman Bank 2700 King Ave. W., Billings, MT 59102 406-655-2700

28. Tvetene Turf 6844 S. Frontage Road, Billings, MT 59101 406-652-8485

31. Yellowstone Bank 3010 3rd Ave. N., Billings, MT 59101 406-248-3600

17. Câ&#x20AC;&#x2122;s Exterior Designs 6809 King Ave. W., Billings, MT 59106 406-256-2191

20. Lynnrich 510 S. Moore Lane, Billings, MT 59101 406-252-2020

23. Stockman Bank 1405 Grand Ave., Billings, MT 59102 406-371-8100

26. Stockman Bank 1450 Shiloh Road, Billings, MT 59106 406-655-3900

29. Win-Dor Industries 1305 4th Ave N., Billings, MT 59101 406-248-2051

32. Yellowstone Bank 1511 Shiloh Road, Billings, MT 59106 406-294-9400

18. Little Horn State Bank 2900 Central Ave., Billings, MT 59102 406-656-5148

21. Oakland & Company High Sierra Subdivision, Billings, MT 59105 406-248-3641

24. Stockman Bank 800 Main St., Billings, MT 59105 406-896-4800

27. Trails West Subdivision 825 North Fork Trail, Billings, MT 59106 406-855-4755

30. Yellowstone Bank 2000 Overland Ave., Billings, MT 59101 406-652-4100

New Construction List to Sales Price The List to Sales Price ratio represents the the median price of $262,700. The Average of $263, 541. The Average Sold Price to List Price list price of the property compared to the sold Sold Price to List Price ratio was 100.77%. ratio was 100.49%. price of the property. In 2014, the average list In 2015, the average list price of new conInformation provided by the Billings Associaprice of new construction was $286,325 with struction was $280,040 and the median price tion of REALTORS®, Inc.

Search Criteria

Status

Closed

Status

Closed

Area

01 , 02 , 03 , 04 , 05 , 06 , 07 , 08 , 09 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20

Area

01 , 02 , 03 , 04 , 05 , 06 , 07 , 08 , 09 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20

Year Built

2014

Year Built

2015

Report time: 2/2/2016 2:19 PM

Report time: 2/2/2016 2:21 PM

Preparing to Buy a Home in 2016 By KIM WELZENBACH, EXECUTIVE OFFICER Home Builders Association of Billings

savvy buyers will be looking to lock in attractive interest rates while they still remain low. If this group includes you, the time to start preparing is now. These tips will help When winter gives way to put you in a better position to find a spring, the temperatures won’t home that’s just right. be the only things on the rise. The home-buying market tends to heat Make your Checklist up as well during the spring, and 2016 will be no exception. Many First-time home buyers should

take the time to determine what their needs are, especially regarding size, location and amenities. But even seasoned home owners will find that having a must-have list can save significant time by helping them avoid listings that may look great in the photos, but in reality, won’t meet their needs. Home buyers should always prioritize the items on their checklists, as

most will need to compromise on some items to fit within a realistic budget. Check Your Credit Score Even if you’ve purchased a home in the past, stricter credit requirements are making it more challenging for some buyers to find home loans. Lenders are more cau-

tious than ever, so having a favorable credit score can make a difference in your ability to be approved for a loan. Even if you think nothing has changed recently on your credit report, it’s good to check periodically to ensure you aren’t being unfairly penalized for old debts, which can sometimes linger on credit reports. Borrowers with scores in the low 600s and even high 500s can still find lenders who will qualify them, but borrowers should strive for scores in the midto upper-700s to land the best rate. Determine What You Can Afford Don’t let your maximum loan approval amount dictate what your home-buying budget should be. Though the approval process is more extensive now than it was even just a few years ago, lenders still want to make as much profit as possible. You, however, are the best person to judge what you can realistically afford. Experts say that your total monthly home expenses should not exceed more than

Spring

one-third of your gross monthly income. You’ll also need to determine how much you’ll need in order to cover any loan fees and closing costs. Sell Your Current Home If buying a new home is contingent on the sale of your current home, it’s a good idea to start the process by reaching out and consulting with your realtor. Ask him or her about your best strategy to sell your home quickly, but at the right time and for the best price possible. You’ll want to identify any maintenance issues your home has, and determine if, how and when each one will need to be addressed. You can also ask your realtor if making any upgrades to your current home would be worthwhile and result in a favorable return when it comes time to sell. For more information about the home buying process, contact The Home Builders Association of Billings at 406-252-7533, www.hbabillings.net or visit nahb.org.

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Questions to Ask Your Home Builder By KIM WELZENBACH, EXECUTIVE OFFICER Home Builders Association of Billings When you’re thinking about buying a new home, selecting the right home builder is a key step in creating the home of your dreams. You should feel comfortable asking a potential home builder every question that you think is important. And, a professional builder or sales representative will want to make you a happy and satisfied home owner. Besides the questions of “How much does it cost?,” and “When can we move in?,” here are some other questions you should ask: Will the builder give you references of recent buyers/occupants? Does the builder have a financing plan established? Are there options in the floor

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plan — for example, can a basement or deck be added? Can a room such as the basement be left unfinished? How much “customizing” can be done versus standard features?

Can appliances be up- or down-graded? Are there any additional fees relating to the home or development? Will there be a home owners’ association? If so, what will

the dues cost and what do they cover? Does the builder offer a warranty program? Does the price include landscaping? What if the plants die within a year? Are there any restrictive covenants? What are the estimated taxes on the property? How is the school system rated? Are day care and grocery stores convenient and satisfactory? What about emergency facilities — police, fire department and hospitals? Are there any major development plans for the area in the next five years? For information on local builders contact the Home Builders Association of Billings at 406-2527533 or hbabillings.net. The HBA is located at 1645 Avenue D, Suite F in Billings.

Meet our teAM of ProfessioNAls

Joe M. Kurkowski,

NMLS #472490 Vice President, has been in the banking industry for 36 years. He specializes in construction, home equity and commercial loans.

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Joe and Dawn are part of our team of banking professionals that believe in going that extra mile for our customers. At Little Horn State Bank, we are large enough to help you with all of your banking needs, but small enough to care. We take great pride in providing the best customer service possible.

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New Home Closing Rules By KIM WELZENBACH, EXECUTIVE OFFICER Home Builders Association of Billings Closing on your new home is an exciting time — but it also can be an overwhelming process. Home buyers are usually required to sign a seemingly endless pile of documents, most of which are written in terminology that can be difficult to

understand. Fortunately, the process has gotten easier but could potentially delay your closing date. Under new rules required by the Consumer Financial Protection Bureau, four closing documents have been merged into two new documents: the Loan Estimate and the Closing Disclosure form. The design of the forms and their terminology will be more consumer-friendly to

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help home owners better understand this complex process. The existing Good Faith Estimate and Truth in Lending disclosures will be eliminated and combined into a single Loan Estimate form. The Loan Estimate must be delivered to the buyer no later than three business days after receiving the application. In addition, the final Truth in Lending Disclosure and HUD-1 Settlement Statement are being replaced by the Closing Disclosure form. This form must be provided to the consumer a full three days prior to the closing, and if there are changes during that 72-hour period, the closing could be delayed. This is a big change from the current process that allows the HUD-1 Settlement Statement to be presented to the buyer as late as the day of closing and allows changes to be made to the statement during the loan closing. This extra time will allow consumers to review the final

terms of the loan and ask any questions before closing day. These new rules are intended to streamline the loan application process and make it easier for consumers to understand their loans. On one page consumers will clearly see the most relevant details: the interest rate of the mortgage loan, the amount of the monthly payments and a listing of all the closing costs. This also will help consumers more easily compare mortgage loan options from different lenders. For consumers applying for adjustable rate mortgages, the documents will explain how their interest rate and future monthly payments could change based on certain factors. Learn more about the new home closing rules at consumerfinance. gov/know-before-you-owe. Find out more about the home closing process by contacting the Billings Home Builders Association at 406-252-7533, www.hbabillings.net or visiting nahb.org/forconsumers.

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