Montana Property Tax Rebate

In case you haven’t heard. Montana is offering a property tax rebate. Check out the details . . . https://mtrevenue.gov/taxes/property-tax-rebate-house-bill-222/

Home Sellers Should Know

Have you heard about National Association of REALTORS® settlement? Learn more . . . https://www.nar.realtor/the-facts/home-sellers-what-the-nar-settlement-means

Real Estate Relationships

In a nutshell . . . There are different types of relationships between real estate brokers and clients. There are buyers’ agents, sellers’ agents, dual agents and statutory agents. Depending on the mutually agreed upon contractual relationship an agent may be acting as a fiduciary agent for a buyer or a seller. A fiduciary agent has the duty to act in the best interest of his or her client. In the case of dual agency, an agent is equally responsible to the seller and the buyer, simultaneously.

It’s important that you understand how an agent would be representing you. Be sure to read through forms / contracts and satisfy answers to your questions before signing documents. Check out this resource from National Association of REALTORS® https://www.nar.realtor/agency.

Statistics

I think it is fun to see what the #realestatemarket is doing. If you ever have a question about the #statistics in a particular area, give me (Jenny) a call. Here are statistics for the area north of Main St. and west of 19th Ave in #Bozeman, MT city limits . . .

Sold! Congrats to My Sellers

Congratulations on the successful sale of my sellers commercial property in Big Sky, MT!

Need to sell commercial property in Montana? Call Jenny, 406-570-5869.

Still a Good Time to Sell Property

Wondering where the housing market is heading? Asking yourself, “is it still a good time to sell my house?” For housing market statistics or questions about selling your home, contact REALTOR® Jenny Hershberger Bushman today, 406-570-5869 / hershjenny@gmail.com.

Commercial Condo for Sale in Bozeman, MT

1716 W. Main St. in Bozeman, MT. 2,593 sf in this two-story commercial condo for sale in Bozeman, MT. Great location for retail space or office space. Keep your business hopping in this spacious commercial condo. Viably located on Main St. in thriving Bozeman, MT. Plenty of congruent spaces for showcasing, storage and/or private office/s on upper and lower levels. Additional private office in the back of the first floor section. Ample parking in condo lot. MLS #377780. Asking price $550,000.

Commercial Building for Sale in Big Sky, MT

12 Skywood Rd. in Big Sky, MT. 1,404 square feet on .622 acres. Free standing commercial building in stunning Big Sky, MT. Inviting, rustic porch leads to two separate entrances. Within are two reception areas, two private offices and a kitchen/breakroom. There is a stone fireplace for those crisp, winter Montana days. Large and plentiful windows peer out to mountain tops while inviting in wonderful natural light. High traffic location. Ample parking space and a little elbow room on over a half acre lot. Side patio for employee privacy. Could be used as light retails space, or office space. Currently occupied by tenant with five-year lease. For more information contact Jenny Hershberger Bushman, 406-570-5869 / hershjenny@gmail.com. MLS #373620. Asking Price $1,000,000.

The Ultimate Guide to Downsizing in Retirement

Is your home right for retirement? Many people decide to downsize at some point. There are several good reasons for this, from reducing energy costs to ensuring your space stays safe and navigable as you age. However, how do you know if it’s the right move for you or your loved one, and if it is, how do you get started? What about the pandemic? To help you answer these questions, we’ve gathered these resources you can use to figure it all out:

Do You Need to Downsize?

Ask yourself first if you need to downsize. If you’re tired of maintaining a larger home or if it costs more than you want to spend, downsizing can be a great choice.

Should I Downsize My Home?
7 Undeniable Signs It’s Time to Downsize

 How to Get Your Finances Together

Take stock of your finances, including what your home is worth, what you have in retirement and what you can reasonably afford. 

Can I Afford Senior Housing?
Learn About Current VA Mortgage Rates

 Finding the Right Fit

The next step is finding the right place. Ideally, you want something that works for you now and that will be easily navigable in the future.

7 Tips for Your Retirement Property Search
What is the Difference Between Assisted Living and Independent Living?

How Does the Pandemic Affect My Situation?

Your real estate agent will be able to guide you through your downsizing process while keeping COVID in mind, but it helps to know what to expect. 

Everything to Know About Buying a House During Coronavirus
Buyers and Renters Navigate Moving While 'Staying Home'

Tips for Decluttering, Packing, and Moving

Once you decide on a place to live, it’s time to start preparing for the big move. 

30 Things You Should Get Rid of When You Retire
Find Dependable Pros for Moving Furniture
The Best Way to Move Out of the House You Have Lived in for 40 Years

Downsizing in retirement gives you a chance to recreate your surroundings. Make the most of this opportunity and focus on what you want in a home, but tread safely in this uncertain time. By honing in on the details and making careful decisions, you’ll be able to live in the best possible environment. 

Ready to retire in Southwest Montana? Real estate professional Jenny Hershberger Bushman can help find you the perfect home for your needs!

Article courtesy of Claire Wentz http://caringfromafar.com

How Expense Tracking Can Save You Money on Your Rental Property

How Expense Tracking Can Save You Money on Your Property Rental

Managing a rental property can be a time-consuming and complicated process. It starts with finding the right property in the right location, and in Southwest Montana, you will be best served by Jenny Hershberger Bushman, so call (406) 570-5869 for a free consultation.. 

From there, business owners must be legally compliant, market their rentals, maintain the property, and manage finances. If you run a property rental business, keeping an eye on your revenue and expenditure by setting up a proper reporting system is vital. 

Property maintenance expenses

You are legally required to keep your property in good condition. This means frequent inspections and prompt repairs to any issues that arise. Both exterior and interior spaces should be well maintained and health and safety regulations must be complied with. 

Sole proprietors, business owners, and property rental managers can deduct some maintenance and repair costs from their tax bills. These can include the cost of materials, contractor labor, and property manager’s or caretaker’s salaries. Make sure to keep records of everything you spend, from receipts for materials bought to paystubs. There are a number of excellent mobile apps you can use to track expenses on the go. 

It is important to remember, though, that not all repairs are tax-deductible. It’s important, therefore, to know what qualifies as such.

Insurance and property taxes

All rental properties must be insured. You need to have insurance on the physical building and, if you rent it furnished, you should also have contents insurance. If your property is mortgaged, it is a legal requirement to have building insurance.

Every U.S. resident who owns property pays property taxes. While rates vary by state, the average American pays $2,471 in property taxes each year. If you have several properties, your tax bill can then make a significant dent in your profit line. You can deduct up to $10,000 on property taxes annually, but your home insurance is not tax-deductible. 

Marketing and advertising costs

Nothing puts a dent on your bottom line faster than a vacant property. The key to maintaining a healthy profit is to ensure maximum occupancy in all your properties. Marketing and advertising need not cost the earth, but if you do incur marketing expenses, again, track them for the tax deduction.

Marketing can be as simple as running a Facebook page, an Instagram profile, or even putting up a ‘for rent’ sign at the property. If you decide to elevate your marketing strategy, consider running ads on social media or in the local paper, placing posters on bulletin boards, or listing the property with rental agencies.

Manage finances and reporting

Property management is a business and it needs to turn a profit. The only way to make sure that your business is in good shape is to keep a keen eye on your income and expenses and run detailed reports that give you a clear picture of your profits and cash flow. Robust reporting software will streamline expenses, invoicing, estimates and more so you can better monitor your rental income and expenses, as well as manage tax payments. QuickBooks Online Advanced can easily connect to your financial accounts, as well as automatically sort expenses into categories so you are fully prepared when tax time rolls around.

Running a rental property business is expensive, but if you are smart, you can claim a lot of your expenses back. Your priority should be to keep an eye on what you are spending, as well as what’s coming in, and making sure it is all properly documented and reported on your tax returns. 

Article courtesy of Claire Wentz / http://caringfromafar.com.