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New Legislation

New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

• Extends deadlines for purchasing and closing on a home.
• Authorizes the credit for long-time homeowners buying a replacement principal residence.
• Raises the income limitations for homeowners claiming the credit.

Under the new law,an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.

For the first time, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived  in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after Nov. 6, 2009. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. The existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009.

General Information

Homebuyers who purchased a home in 2008, 2009 or 2010 may be able to take advantage of the first-time homebuyer credit. The credit:

• Applies only to homes used as a taxpayer’s principal residence.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

The credit is claimed using Form 5405, which you file with your original or amended tax return.

Source. IRS.gov

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Access Realty
Kevin & Monica Ray
Office: 406-822-SOLD (7653)
Cell: 406-207-1185
Email: RayTeam@YourMT.com

Montana Real Estate Resources

This site contains information on all areas related to Montana Real Estate. Browse the articles below for information on investing, moving, buying, selling, and more!

Article Topics

Select Category Buyer Tips First Time Homebuyers Home Buyer Assistance Programs Foreclosures Going Green Hunting Properties Market Update 59801 59802 59803 59804 59808 Meet the Ray Team Kevin Ray Kevin’s Photography Monica Ray Mineral County Towns Miscellaneous Missoula Missoula Neighborhoods 44 Ranch Estates Orchard Homes Slant Streets South Hills Target Range The Rattlesnake University District Montana Photo Blog Missoula Montana Photos Superior Montana Photos Montana Poetry New Construction Newsletters Pets Radon Ravalli County Towns Real Estate Investing 1031 Exchanges Real Estate Tips Real Estate Trades & Exchanges Recreational Properties RiverRidge Schools Seller Tips Home Staging Taxes Testimonials Uncategorized Utilities Videos Virtual Tours

Recent Articles

• Missoula Real Estate Market Stats for December 2009, 59808
• Missoula Real Estate Market Stats for December 2009, 59804
• Missoula Real Estate Market Stats for December 2009, 59803
• Missoula Real Estate Market Stats for December 2009, 59802
• Missoula Real Estate Market Stats for December 2009, 59801
• Montana Board of Housing 2010 PROGRAM
• Missoula Montana Church & Places of Worship Directory
• October 2009 – Missoula Real Estate Market Report for 59801
• Video on Staging Your Home to Sell – Decluttering
• Western Montana’s Bitterroot Valley is Hit Hard By Foreclosures

Montana Board of Housing 2010 PROGRAM

*Reservations accepted on a “First Come, First Serve Basis”

*Interest rate is 5.125%

*Term is 30 year mortgage

*1% Origination Fee

*1% Discount Fee

*Eligible loans:  FHA, VA, and Rural Development

*Homebuyer Education is required for all loans unless the allowed exceptions are met

*Setaside programs subject to approval are currently at 5.50%

*Homebuyer Education required on all setaside loans

*INCOME LIMITS- Contact your lender

Missoula County – 2 or less in family $71,280

Missoula County – 3 or more in family $83,160

*LOAN LIMITS

Missoula County purchase price limit new or existing    $236,840

Mineral County purchase price limit new or existing      $236,840

Sanders County purchase price limit new or existing     $236,840

Ravalli County purchase price limit new or existing       $236,840

Missoula County is a targeted area

For information on qualifying for a MBOH loan, contact your local Montana lender. For a list of homes that may qualify, contact Kevin and Monica Ray of Access Realty at 406-207-1185 or 406-544-3098.

1601 W Kent Ave

Missoula, MT 59801

(406) 529-2468

Alleghaney Wesleyan Methodist Church Inc

701 S 6^th St W

Missoula, MT 59801

(406) 728-2131

http://www.wesleyanmethodist017.b2badvantage.net/

Atonement Lutheran Church

2205 34^th St

Missoula, MT 59801

(406) 549-7792

http://www.atonemsla.org/

Bahai Center Bahai Under The Provisions Of The Covenant

2605 S 7^th St W

Missoula, MT 59804

(406) 721-5737

Bahai Faith Spirit Assembly Of Missoula

1530 S 11^th St W

Missoula, MT 59801

(406) 829-9538

Bethel Baptist Church

1601 S 6^th St W

Missoula, MT 59801

(406) 721-2780

http://www.bethelbaptistmt.com/

Blessed Trinity Catholic Community

1475 Eaton St

Missoula, MT 59801

(406) 721-2405

Buddhist Center Of Missoula

540 S 2^nd St W

Missoula, MT 59801

(406) 728-9232

Calvary Chapel Missoula

Missoula, MT 59808

(406) 546-9673

Calvary Community Church

2023 S Higgins Ave

Missoula, MT 59801

(406) 728-9972

2870 St Michael Dr.

Missoula, MT 59803

(406) 251-5720

Catholic Diocese Of Peoria

1401 Gerald Ave

Missoula, MT 59801

(406) 721-5563

Christ The King Church University Of Montana Newman Center

1400 Gerald Ave

Missoula, MT 59801

(406) 728-3845

http://www.christthekingccm.org/

ctkccm@christthekingccm.org

Christian & Missionary Alliance Church

100 Foss Ct E

Missoula, MT 59803

(406) 251-3983

http://www.cmalliance.org/

Christian Assembly Foursquare Church

1001 Cleveland St

Missoula, MT 59801

(406) 721-6884

http://www.4bible.com/

Christian Campus Ministries Inc

538 University Ave

Missoula, MT 59801

(406) 549-8816

Christian Life Center

3801 S Russell St

Missoula, MT 59801

(406) 543-6782

(406) 542-0353

http://ag.org/top/

Christian Science Reading Room

509 S Higgins Ave

Missoula, MT 59801

(406) 549-2986

http://www.tfccs.com

info@churchofchristscientist.org

Christs Church On The Clark Fork

601 Longstaff St

Missoula, MT 59801

(406) 327-7410

Church Of Jesus Christ Of Latter Day Saints

3050 S Ave W

Missoula, MT 59804

(406) 721-4726

515 Mcleod Ave

Missoula, MT 59801

(406) 549-7265

6200 Industrial Road

Missoula, MT 59808

(406)721-6914

http://www.latterdayfamilies.com/

http://www.mormon.org/mormonorg/eng/

Church Of The Nazarene

2339 26^th Ave

Missoula, MT 59804

(406) 728-2993

http://www.nazarene.org/

Church Rediscover It

1960 S 10^th St W

Missoula, MT 59801

(406) 829-9900

Clark Fork Christian Center

2811 Latimer St

Missoula, MT 59808

(406) 721-7804

http://www.cfccmt.org/

clarkfork@cfccmt.org

Clark Fork City Church

140 S 4^th St W

Missoula, MT 59801

(406) 721-7804

http://www.cfccmt.org/

clarkfork@cfccmt.org

Corporation Of The Presiding Bishop Of The Church Of Jesus Christ Of Latter-Day Saints

3201 Bancroft St

Missoula, MT 59801

(406) 728-0506

Crosspoint Community Church

7500 Mullan Way

Missoula, MT 59808

(406) 728-4910

Discovery Alliance Church

1001 S Higgins Ave

Missoula, MT 59801

(406) 728-2754

http://www.cmalliance.org/

Emmanuel Baptist Church

4907 Blue Mountain Rd

Missoula, MT 59804

(406) 251-6874

http://www.ebcmissoula.com/

Emmanuel Lutheran Church

830 S Ave W

Missoula, MT 59801

(406) 549-0736

Faith Baptist Church

2853 Briggs St

Missoula, MT 59803

(406) 251-2796

Faith Evangelical Free Church Of Missoula

2200 S 10^th St W

Missoula, MT 59801

(406) 728-3966

http://www.efca.org/

First Baptist Church

308 W Pine St

Missoula, MT 59802

(406) 549-4555

First Christian Church

2701 S Russell St

Missoula, MT 59801

(406) 549-7221

http://www.disciples.org/

First Lutheran Church

2808 South Ave W

Missoula, MT 59804

(406) 549-3311

http://www.flcmissoula.org/

First Presbyterian Church

201 S 5^th St W

Missoula, MT 59801

(406) 549-5144

235 S 5^th St W

Missoula, MT 59801

(406) 549-5144

http://www.fpcmissoula.org/

First United Methodist Church

300 E Main St

Missoula, MT 59802

(406) 549-6118

Garden City Church

1100 S Higgins Ave

Missoula, MT 59801

(406) 542-2455

http://www.gardencitychurch.org/

gcchurch@montana.com

Garden City Presbyterian

2345 S 7^th St W

Missoula, MT 59801

(406) 721-6366

http://www.opc.org/

Gideons International

1901 S Higgins Ave

Missoula, MT 59801

(406) 728-5801

http://www.gideons.org

Grace United Methodist Church

1750 S 10^th St W

Missoula, MT 59801

(406) 549-3855

Greek Orthodox Church Of The Annunciation

301 S 6^th St W

Missoula, MT 59801

(406) 543-0792

http://www.goarch.org/

http://www.annunciation.mt.goarch.org/

Har Shalom Synagogue

3035 S Russell St

Missoula, MT 59801

(406) 549-9595

http://www.urj.org/

www.har-shalom.org

info@har-shalom.org

Harvest Family Fellowship

2415 Arcadia Dr

Missoula, MT 59803

(406) 251-5559

Holy Spirit Parish

130 S 6^th St E

Missoula, MT 59801

(406) 542-2167

http://www.holyspiritparishmt.org

Hope Baptist Church

7498 Zaugg Dr

Missoula, MT 59802

(406) 258-6572

http://www.hopebc.org/

Hope4missoula@aol.com

Jehovah Witnesses Kingdom Hall

1115 S Reserve St

Missoula, MT 59801

(406) 542-0836

http://www.watchtower.org/

Jesuit Fathers

420 W Pine

Missoula, MT 59802

(406) 542-0336

http://www.stfrancisparish.com/

info@stfrancisparish.com

Lds  Missoula Montana

3050 S Ave W

Missoula, MT 59804

(406) 549-1846

Lighthouse Baptist Church

5425 Gharrett Ave

Missoula, MT 59803

(406) 327-7428

Messiah Lutheran Church

3718 Rattlesnake Dr

Missoula, MT 59802

(406) 549-9222

Midtown Church

1960 S 10^th St W

Missoula, MT 59801

(406) 829-9900

Missoula 316

1200 Shakespeare St

Missoula, MT 59802

(406) 542-5240

506 Toole Ave

Missoula, MT 59802

(406) 549-4673

http://www.missoula316.org/

Missoula Bible Church

4455 W Broadway St

Missoula, MT 59808

(406) 543-3441

http://www.missoulabiblechurch.org/

Missoula Christian Fellowship

12415 Dusty Ln

Missoula, MT 59808

(406) 721-4555

Missoula Christian Network

1714 S Reserve St

Missoula, MT 59801

(406) 728-6853

http://www.livingwordmt.org/

Missoula Friends Meeting Quakers

1861 S 12^th St W

Missoula, MT 59801

(406) 549-6276

Missoula Gospel Assembly

201 S 3^rd St W

Missoula, MT 59801

(406) 543-8144

Missoula Landmark Missionary Baptist

3803 Brooks St

Missoula, MT 59804

(406) 251-5603

Missoula North Foursquare

336 Livingston Ave

Missoula, MT 59801

(406) 721-7717

Missoula Valley Church

1528 S Higgins Ave

Missoula, MT 59801

(406) 549-1744

Mount Zion Evangelical Lutheran Church

402 Strand Ave

Missoula, MT 59801

(406) 543-8222

http://www.mtzionwels.org/

pastor@mtzionwels.org

Mountain View Chapel

2232 S 9^th St W

Missoula, MT 59801

(406) 728-9228

New Hope Christian Fellowship

336 Livingston Ave

Missoula, MT 59801

(406) 721-7717

http://www.newhopemissoula.com/

New Life Worship Center

1714 S Reserve St

Missoula, MT 59801

(406) 549-2141

http://ag.org/top/

Open Door Baptist Church

135 Knowles St

Missoula, MT 59801

(406) 728-5562

http://www.odbcmissoula.com/

Our Lady Of Bitterroot Chapel

Missoula, MT 59801

(406) 273-0926

Path Of Life

1620 Rogers St Ste 2

Missoula, MT 59802

(406) 327-8663

Prince Of Peace Lutheran Church

2512 Sunset Ln

Missoula, MT 59804

(406) 549-4042

Rocky Mountain Baptist Fellowship

345 S 5^th St W

Missoula, MT 59801

(406)251-8181

http://www.rockymountainbf.org/

rmbfshane@bresnan.net

Roman Catholic Bishop Of Helena

1400 Gerald Ave

Missoula, MT 59801

(406) 728-3845

420 W Pine St

Missoula, MT 59802

(406) 542-0321

Second International Baha I Council

620 S 3^rd St W

Missoula, MT 59801

(406) 541-4411

Seventh Day Adventist Church

800 South Ave W

Missoula, MT 59801

(406) 543-3425

Shalom Har Synagogue

3035 S Russell St

Missoula, MT 59801

(406) 549-9595

Slavic Pentecostal Church

10275 Mullan Rd

Missoula, MT 59808

(406)543-6762

South Hills Evangelical Church

1919 North Ave W

Missoula, MT 59801

(406) 251-3976

http://www.shec.net/

Spirit Of Peace Alternative Catholic Community

506 Toole Ave

Missoula, MT 59802

(406)549-3324

Spiritual Assembly Of Bah

421 Speedway Ave

Missoula, MT 59802

(406) 549-7700

St Anthony Parish

217 Tremont St

Missoula, MT 59801

(406) 543-3129

http://www.saintanthonyparish.com/

greller@saintanthonyparish.com

St Francis Xavier Church

420 W Pine St

Missoula, MT 59802

(406) 542-0321

http://stfrancisxavier-missoula.com/

St Paul Lutheran Church

202 Brooks St

Missoula, MT 59801

(406) 549-4141

http://www.stpaulmissoula.org/

cflohr@stpaulmissoula.org

The Church

3811 S 6^th St W

Missoula, MT 59804

(406) 829-9900

http://ag.org/top/

Unitarian Universalist Fellowship Of Missoula

102 Mcleod Ave

Missoula, MT 59801

(406) 549-9697

http://www.uuctucson.org/

Unity Church Of Missoula

546 South Ave W

Missoula, MT 59801

(406) 728-0187

http://www.unity.org/

University Congregational Church

401 University Ave

Missoula, MT 59801

(406) 543-6952

405 University Ave

Missoula, MT 59801

(406) 543-6952

http://www.uccmsla.org/index.php

info@uccmsla.org

Vineyard Christian Fellowship The River

3800 South Ave W

Missoula, MT 59804

(406) 829-8463

Wesleyan Methodist Church

721 S 6^th St W

Missoula, MT 59801

(406) 728-2131

During October 2009, there were 28 closed sales with an average sales price of $209,825.  The number of sales is the same as it was in October 2008 but the average sales went from $212,864 last year to $209,825 this year – a decrease of 3.41%.

Residential 2008 2009 Difference

To view all recent market reports, visit the Western Montana & Missoula Real Estate Market Report Page. 

The 59801 zip code includes the following areas:

Central Missoula Real Estate Market Report
10A - South of the Clark Fork River, North of Brooks, East of Reserve, West of Russell

University of Montana District / Lewis & Clark / Farviews Real Estate Market Report
20A – South of Clark Fork River, North of South Avenue, East of Higgins,
20B – South of South Avenue, North of SW Higgins/39th, East of Brooks, West of Higgins
20D – South of Clark Fork River, North of South Avenue, East of Stephans/Orange, West of Higgins
20E – South of Clark Fork River, North of South Avenue, East of Russell, West of Stephens/Orange

 View a Map of Missoula and Learn more about Missoula’s Neighborhoods or Living in Missoula

More videos and information about Staging Your Home to Sell.

According to a recent article in The Ravalli Republic, property foreclosures in the Bitterroot Valley have skyrocketed over the past year.

The county recorded 339 trustee sales notices between October 2008 and October 2009 – an 83% increase from the previous year and a shocking 260% increase from the year before that.

The article goes on to state that the total number of trustee sales won’t be known until next spring but it is estimated to be exceed 400.

The report is consistent with reports of declining sales in rural housing markets across the country. The Bitterroot Valley also experienced higher gains and rapid construction during the good times.

We are experienced in working with bank-owned and pre-foreclosure properties in the Bitterroot Valley. If you are looking to buy or sell in the Bitterroot, contact Kevin and Monica Ray of Access Realty at 406-207-1185.