What Are Restrictive Covenants?

Read These Rules Before You Buy

BY CATHIE ERICSON for Realtor.com

IN THE MOMENT

EPISODE SEVEN: OPEN ROAD
Join the Absaroka Dogsled Treks team on a ride of a lifetime through the Montana backcountry.

Live Music Saturdays

Starting April 4, 2017

7:00 PM – 10:00 PM MDT

Firebrand Lounge, Second and Spokane in Whitefish

Halladay Quist is a country bluegrass singer songwriter with a streak of rock ‘n roll in her veins. She performs live in the Firebrand Lounge most Saturdays with the occasional guest musician stepping in.

To learn more about Halladay visit her website: https://www.halladayquist.com/Halladay

What Are HOA Fees?

BY LISA MANDELL for Realtor.com

First things first: HOA is an abbreviation for “homeowners association,” which applies to the owners of condos, townhouses, or freestanding homes in a planned community. The fee, which is usually charged monthly, goes to maintain the common areas of that community.

“Because multiple parties live in the same building or complex, all residents must be equally responsible for maintaining the common areas such as landscaping, elevators, swimming pools, clubhouses, parking garages, fitness rooms, sidewalks, security gates, roofing, and building exteriors,” says finance expert Amy Fontanelle. HOA fees also include insurance payments to cover those common areas.

Sure, homeowners already taking on a mortgage may hate coughing up more money for HOA dues. But they actually let you off the hook for a ton of home maintenance work. So before you start kvetching, consider all that HOA fees can do for you.

How much are HOA fees?

For a typical single-family home, HOA fees can cost homeowners around $200 to $300 per month, although they will be lower or much higher depending on the size of your unit and the amenities.

To give you an idea of the range of HOA fees, a 1,000-square-foot condo in Des Moines, IA, with no pool, spa, community room, or gym in the community has an HOA fee of $100 per month, which covers utilities, landscaping, and snow removal.

On the other end of the spectrum, there’s Hollywood’s fancy Sierra Towers condo building, which is filled to the brim with amenities like 24-hour concierge service and valet parking. They charge residents of a 3,400-square-foot condo about $4,000 per month in HOA fees. Suddenly that $250 monthly fee you’re considering feels a bit more reasonable, doesn’t it?

What is an HOA reserve fund?

HOA fees are usually divided into two parts: One portion goes toward monthly expenses, and the remaining money goes into a reserve fund, to save for long-term repairs and replacements such as roofs, plumbing, and exterior paint. Reserve funds also cover emergency expenses that arise when natural disasters, vandals, or just the unavoidable wear and tear strike.

What is an assessment?

Be aware that when your community is hit with extreme maintenance expenses-like a flood in the underground parking lot due to a broken water heater or a pipe bursting-homeowners insurance will cover some of it, but whatever’s left will have to be paid by your HOA.

Typically in these cases the HOA will tap the reserve fund, which may become depleted as a result. As a result, your HOA board may require you and your fellow homeowners in the community to pay a special assessment bill above and beyond your monthly HOA fee. Luckily, though, these assessments are typically temporary until the reserve is back up to a comfortable level.

What happens if I can’t pay the HOA fees?

Rest assured that most lending institutions take the HOA fee into consideration when they write up your mortgage. In other words, they evaluate your monthly income compared with your monthly expenses, and they won’t make a loan on the desired property unless they feel you can safely cover everything: your mortgage payment, taxes, and HOA fees.

But hey, life happens. If you lose your job or are unable to pay your HOA fees, you might be able to work something out with the HOA board. Be sure to talk to it before you miss even one payment. If you fall too far behind, the consequences could be the same as if you fail to make your mortgage payments. Bob Tankel, a Florida attorney specializing in HOA law, says you could be evicted or, in extreme instances, the board has the right to foreclose on your property.

The ins and outs of your HOA fees and what they cover in your new community will be spelled out in the covenants, conditions, and restrictions. Tankel suggests reading your CC&Rs carefully before you even buy your condo, and referring to it frequently once you move in so you’ll always know what to expect.

What Are Restrictive Covenants?

Read These Rules Before You Buy

BY CATHIE ERICSON for Realtor.com

IN THE MOMENT

EPISODE SEVEN: OPEN ROAD
Join the Absaroka Dogsled Treks team on a ride of a lifetime through the Montana backcountry.

Live Music Saturdays

Starting April 4, 2017

7:00 PM – 10:00 PM MDT

Firebrand Lounge, Second and Spokane in Whitefish

Halladay Quist is a country bluegrass singer songwriter with a streak of rock ‘n roll in her veins. She performs live in the Firebrand Lounge most Saturdays with the occasional guest musician stepping in.

To learn more about Halladay visit her website: https://www.halladayquist.com/Halladay

What Are HOA Fees?

BY LISA MANDELL for Realtor.com

First things first: HOA is an abbreviation for “homeowners association,” which applies to the owners of condos, townhouses, or freestanding homes in a planned community. The fee, which is usually charged monthly, goes to maintain the common areas of that community.

“Because multiple parties live in the same building or complex, all residents must be equally responsible for maintaining the common areas such as landscaping, elevators, swimming pools, clubhouses, parking garages, fitness rooms, sidewalks, security gates, roofing, and building exteriors,” says finance expert Amy Fontanelle. HOA fees also include insurance payments to cover those common areas.

Sure, homeowners already taking on a mortgage may hate coughing up more money for HOA dues. But they actually let you off the hook for a ton of home maintenance work. So before you start kvetching, consider all that HOA fees can do for you.

How much are HOA fees?

For a typical single-family home, HOA fees can cost homeowners around $200 to $300 per month, although they will be lower or much higher depending on the size of your unit and the amenities.

To give you an idea of the range of HOA fees, a 1,000-square-foot chicago apartments, with no pool, spa, community room, or gym in the community has an HOA fee of $100 per month, which covers utilities, landscaping, and snow removal.

On the other end of the spectrum, there’s Hollywood’s fancy Sierra Towers condo building, which is filled to the brim with amenities like 24-hour concierge service and valet parking. They charge residents of a 3,400-square-foot condo about $4,000 per month in HOA fees. Suddenly that $250 monthly fee you’re considering feels a bit more reasonable, doesn’t it?

What is an HOA reserve fund?

HOA fees are usually divided into two parts: One portion goes toward monthly expenses, and the remaining money goes into a reserve fund, to save for long-term repairs and replacements such as roofs, plumbing, and exterior paint. Reserve funds also cover emergency expenses that arise when natural disasters, vandals, or just the unavoidable wear and tear strike.

What is an assessment?

Be aware that when your community is hit with extreme maintenance expenses-like a flood in the underground parking lot due to a broken water heater or a pipe bursting-homeowners insurance will cover some of it, but whatever’s left will have to be paid by your HOA.

Typically in these cases the HOA will tap the reserve fund, which may become depleted as a result. As a result, your HOA board may require you and your fellow homeowners in the community to pay a special assessment bill above and beyond your monthly HOA fee. Luckily, though, these assessments are typically temporary until the reserve is back up to a comfortable level.

What happens if I can’t pay the HOA fees?

Rest assured that most lending institutions take the HOA fee into consideration when they write up your mortgage. In other words, they evaluate your monthly income compared with your monthly expenses, and they won’t make a loan on the desired property unless they feel you can safely cover everything: your mortgage payment, taxes, and HOA fees.

But hey, life happens. If you lose your job or are unable to pay your HOA fees, you might be able to work something out with the HOA board. Be sure to talk to it before you miss even one payment. If you fall too far behind, the consequences could be the same as if you fail to make your mortgage payments. Bob Tankel, a Florida attorney specializing in HOA law, says you could be evicted or, in extreme instances, the board has the right to foreclose on your property.

The ins and outs of your HOA fees and what they cover in your new community will be spelled out in the covenants, conditions, and restrictions. Tankel suggests reading your CC&Rs carefully before you even buy your condo, and referring to it frequently once you move in so you’ll always know what to expect.

Real Estate sales see large uptick, new projects double

BY HEIDI DESCH, WHITEFISH PILOT 2-15-2017

Home sales in Whitefish last year saw a large uptick, while new residential home development more than doubled in the city.

There were 194 homes sold within the city limits last year, according to a report by Kelley Appraisal of Kalispell. That’s an almost 40 percent increase from the previous year, following two years of decreases in the number of sales in 2013 and 2014, according to Jim Kelley who compiles the annual home sales report.

According to the city of Whitefish Planning and Building Department’s annual report, there were 156 new dwelling units permitted in 2016 compared to 67 in 2015.

City Planning Director Dave Taylor said the increase in the number of permits seems to fall in line with a recently completed workforce housing study showing the city will need 980 residential units by 2020 to keep up with current demand.

“There is currently a shortage of service workers and housing,” Taylor said in his report. “The deficit of available residential units has translated into 10 year highs in duplex and multi-family residential development, which counted for more than two-thirds of our residential new construction.”

Taylor estimates the economic investment of the residential development at over $32 million.

According to the Kelley report, this January there were 126 homes on the market within the city limits compared to 142 in January 2016.

“With 126 current listings, this represents 7.8 months of inventory compared to 6.1 months of inventory in Flathead County,” Kelly says in his report. “Last year at this time there was 12.3 months inventory in Whitefish.”

Kelley says that last year was mostly stable for sales with numbers similar to the last three years.

“Subdivision activity continues near its all-time low, but the inventory of bank-owned has mostly gone away,” he said. “There is development, but mostly within city limits. There continues to be little interest in rural subdivision development.”

According to the city report, seven new subdivisions were approved in Whitefish last year with 51 new lots receiving preliminary plat, which is more than twice the number for 2015.

The median home price in Whitefish in 2016 increased to $325,000, up slightly from $320,000 in 2015.

Twelve homes sold on Whitefish Lake last year, up slightly from nine in 2015. The median price for those homes is $1.87 million, up 2.4 percent over 2015.

ALPENGLOW – The Perfect Line

EPISODE SIX: OPEN ROAD
Watch skier Rachel Pohl turn a day on the slopes into a work of art. The Sky’s the Limit. Rachel believes the world is her canvas. With Montana’s unspoiled beauty and pristine powder as her muse, it’s easy to see why.

SNOW REPORT

Check the snow conditions at Whitefish Mountain Resort by clicking here.

LESSONS

Learn to ski or snowboard. Click here for information about lessons and ticket packages.

NIGHT SKIING

Night owls can enjoy some great skiing during our night sessions. Click here for info.

LIFT TICKETS – PURCHASE ON-LINE

Purchase tickets in advance.

You can always call for information too.

877-SKI-FISH

or visit their website:

www.skiwhitefish.com

Wilderness Speaker Series

March 22, 2017
7:00 PM – 8:00 PM MDT
Flathead Valley Community College
Event Description:
“THE NAMES OF THE STARS, A Life In The Wilds” a book reading and discussion

Speaker: Pete Fromm, wilderness author.

Acclaimed author of “Indian Creek Chronicles,” the story of his seven winter months alone in the Selway Bitterroot Wilderness tending salmon eggs, Pete’s newest book, “THE NAMES OF THE STARS; A Life In The Wilds” is the story of another month alone in the wilderness caring for fish eggs, this time the Bob. He will read from his new book. Books available for sale and signing.

Find more information at www.bmwf.org.

Real Estate sales see large uptick, new projects double

BY HEIDI DESCH, WHITEFISH PILOT 2-15-2017

Home sales in Whitefish last year saw a large uptick, while new residential home development more than doubled in the city.

There were 194 homes sold within the city limits last year, according to a report by Kelley Appraisal of Kalispell. That’s an almost 40 percent increase from the previous year, following two years of decreases in the number of sales in 2013 and 2014, according to Jim Kelley who compiles the annual home sales report.

According to the city of Whitefish Planning and Building Department’s annual report, there were 156 new dwelling units permitted in 2016 compared to 67 in 2015.

City Planning Director Dave Taylor said the increase in the number of permits seems to fall in line with a recently completed workforce housing study showing the city will need 980 residential units by 2020 to keep up with current demand.

“There is currently a shortage of service workers and housing,” Taylor said in his report. “The deficit of available residential units has translated into 10 year highs in duplex and multi-family residential development, which counted for more than two-thirds of our residential new construction.”

Taylor estimates the economic investment of the residential development at over $32 million.

According to the Kelley report, this January there were 126 homes on the market within the city limits compared to 142 in January 2016.

“With 126 current listings, this represents 7.8 months of inventory compared to 6.1 months of inventory in Flathead County,” Kelly says in his report. “Last year at this time there was 12.3 months inventory in Whitefish.”

Kelley says that last year was mostly stable for sales with numbers similar to the last three years.

“Subdivision activity continues near its all-time low, but the inventory of bank-owned has mostly gone away,” he said. “There is development, but mostly within city limits. There continues to be little interest in rural subdivision development.”

According to the city report, seven new subdivisions were approved in Whitefish last year with 51 new lots receiving preliminary plat, which is more than twice the number for 2015.

The median home price in Whitefish in 2016 increased to $325,000, up slightly from $320,000 in 2015.

Twelve homes sold on Whitefish Lake last year, up slightly from nine in 2015. The median price for those homes is $1.87 million, up 2.4 percent over 2015.

ALPENGLOW – The Perfect Line

EPISODE SIX: OPEN ROAD
Watch skier Rachel Pohl turn a day on the slopes into a work of art. The Sky’s the Limit. Rachel believes the world is her canvas. With Montana’s unspoiled beauty and pristine powder as her muse, it’s easy to see why.

SNOW REPORT

Check the snow conditions at Whitefish Mountain Resort by clicking here.

LESSONS

Learn to ski or snowboard. Click here for information about lessons and ticket packages.

NIGHT SKIING

Night owls can enjoy some great skiing during our night sessions. Click here for info.

LIFT TICKETS – PURCHASE ON-LINE

Purchase tickets in advance.

You can always call for information too.

877-SKI-FISH

or visit their website:

www.skiwhitefish.com

Wilderness Speaker Series

March 22, 2017
7:00 PM – 8:00 PM MDT
Flathead Valley Community College
Event Description:
“THE NAMES OF THE STARS, A Life In The Wilds” a book reading and discussion

Speaker: Pete Fromm, wilderness author.

Acclaimed author of “Indian Creek Chronicles,” the story of his seven winter months alone in the Selway Bitterroot Wilderness tending salmon eggs, Pete’s newest book, “THE NAMES OF THE STARS; A Life In The Wilds” is the story of another month alone in the wilderness caring for fish eggs, this time the Bob. He will read from his new book. Books available for sale and signing.

Find more information at www.bmwf.org.

Real Estate sales see large uptick, new projects double

BY HEIDI DESCH, WHITEFISH PILOT 2-15-2017

Home sales in Whitefish last year saw a large uptick, while new residential home development more than doubled in the city.

There were 194 homes sold within the city limits last year, according to a report by Kelley Appraisal of Kalispell. That’s an almost 40 percent increase from the previous year, following two years of decreases in the number of sales in 2013 and 2014, according to Jim Kelley who compiles the annual home sales report.

According to the city of Whitefish Planning and Building Department’s annual report, there were 156 new dwelling units permitted in 2016 compared to 67 in 2015.

City Planning Director Dave Taylor said the increase in the number of permits seems to fall in line with a recently completed workforce housing study showing the city will need 980 residential units by 2020 to keep up with current demand.

“There is currently a shortage of service workers and housing,” Taylor said in his report. “The deficit of available residential units has translated into 10 year highs in duplex and multi-family residential development, which counted for more than two-thirds of our residential new construction.”

Taylor estimates the economic investment of the residential development at over $32 million.

According to the Kelley report, this January there were 126 homes on the market within the city limits compared to 142 in January 2016.

“With 126 current listings, this represents 7.8 months of inventory compared to 6.1 months of inventory in Flathead County,” Kelly says in his report. “Last year at this time there was 12.3 months inventory in Whitefish.”

Kelley says that last year was mostly stable for sales with numbers similar to the last three years.

“Subdivision activity continues near its all-time low, but the inventory of bank-owned has mostly gone away,” he said. “There is development, but mostly within city limits. There continues to be little interest in rural subdivision development.”

According to the city report, seven new subdivisions were approved in Whitefish last year with 51 new lots receiving preliminary plat, which is more than twice the number for 2015.

The median home price in Whitefish in 2016 increased to $325,000, up slightly from $320,000 in 2015.

Twelve homes sold on Whitefish Lake last year, up slightly from nine in 2015. The median price for those homes is $1.87 million, up 2.4 percent over 2015.

ALPENGLOW – The Perfect Line

EPISODE SIX: OPEN ROAD
Watch skier Rachel Pohl turn a day on the slopes into a work of art. The Sky’s the Limit. Rachel believes the world is her canvas. With Montana’s unspoiled beauty and pristine powder as her muse, it’s easy to see why.

SNOW REPORT

Check the snow conditions at Whitefish Mountain Resort by clicking here.

LESSONS

Learn to ski or snowboard. Click here for information about lessons and ticket packages.

NIGHT SKIING

Night owls can enjoy some great skiing during our night sessions. Click here for info.

LIFT TICKETS – PURCHASE ON-LINE

Purchase tickets in advance.

You can always call for information too.

877-SKI-FISH

or visit their website:

www.skiwhitefish.com

Wilderness Speaker Series

March 22, 2017
7:00 PM – 8:00 PM MDT
Flathead Valley Community College
Event Description:
“THE NAMES OF THE STARS, A Life In The Wilds” a book reading and discussion

Speaker: Pete Fromm, wilderness author.

Acclaimed author of “Indian Creek Chronicles,” the story of his seven winter months alone in the Selway Bitterroot Wilderness tending salmon eggs, Pete’s newest book, “THE NAMES OF THE STARS; A Life In The Wilds” is the story of another month alone in the wilderness caring for fish eggs, this time the Bob. He will read from his new book. Books available for sale and signing.

Find more information at www.bmwf.org.

Real Estate sales see large uptick, new projects double

BY HEIDI DESCH, WHITEFISH PILOT 2-15-2017

Home sales in Whitefish last year saw a large uptick, while new residential home development more than doubled in the city.

There were 194 homes sold within the city limits last year, according to a report by Kelley Appraisal of Kalispell. That’s an almost 40 percent increase from the previous year, following two years of decreases in the number of sales in 2013 and 2014, according to Jim Kelley who compiles the annual home sales report.

According to the city of Whitefish Planning and Building Department’s annual report, there were 156 new dwelling units permitted in 2016 compared to 67 in 2015.

City Planning Director Dave Taylor said the increase in the number of permits seems to fall in line with a recently completed workforce housing study showing the city will need 980 residential units by 2020 to keep up with current demand.

“There is currently a shortage of service workers and housing,” Taylor said in his report. “The deficit of available residential units has translated into 10 year highs in duplex and multi-family residential development, which counted for more than two-thirds of our residential new construction.”

Taylor estimates the economic investment of the residential development at over $32 million.

According to the Kelley report, this January there were 126 homes on the market within the city limits compared to 142 in January 2016.

“With 126 current listings, this represents 7.8 months of inventory compared to 6.1 months of inventory in Flathead County,” Kelly says in his report. “Last year at this time there was 12.3 months inventory in Whitefish.”

Kelley says that last year was mostly stable for sales with numbers similar to the last three years.

“Subdivision activity continues near its all-time low, but the inventory of bank-owned has mostly gone away,” he said. “There is development, but mostly within city limits. There continues to be little interest in rural subdivision development.”

According to the city report, seven new subdivisions were approved in Whitefish last year with 51 new lots receiving preliminary plat, which is more than twice the number for 2015.

The median home price in Whitefish in 2016 increased to $325,000, up slightly from $320,000 in 2015.

Twelve homes sold on Whitefish Lake last year, up slightly from nine in 2015. The median price for those homes is $1.87 million, up 2.4 percent over 2015.

ALPENGLOW – The Perfect Line

EPISODE SIX: OPEN ROAD
Watch skier Rachel Pohl turn a day on the slopes into a work of art. The Sky’s the Limit. Rachel believes the world is her canvas. With Montana’s unspoiled beauty and pristine powder as her muse, it’s easy to see why.

SNOW REPORT

Check the snow conditions at Whitefish Mountain Resort by clicking here.

LESSONS

Learn to ski or snowboard. Click here for information about lessons and ticket packages.

NIGHT SKIING

Night owls can enjoy some great skiing during our night sessions. Click here for info.

LIFT TICKETS – PURCHASE ON-LINE

Purchase tickets in advance.

You can always call for information too.

877-SKI-FISH

or visit their website:

www.skiwhitefish.com

Wilderness Speaker Series

March 22, 2017
7:00 PM – 8:00 PM MDT
Flathead Valley Community College
Event Description:
“THE NAMES OF THE STARS, A Life In The Wilds” a book reading and discussion

Speaker: Pete Fromm, wilderness author.

Acclaimed author of “Indian Creek Chronicles,” the story of his seven winter months alone in the Selway Bitterroot Wilderness tending salmon eggs, Pete’s newest book, “THE NAMES OF THE STARS; A Life In The Wilds” is the story of another month alone in the wilderness caring for fish eggs, this time the Bob. He will read from his new book. Books available for sale and signing.

Find more information at www.bmwf.org.