Author: Press Room

Billings Building Permits June 1 2021

8 June 2021
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Commercial

Ziegler, Jack R & Michelle L/North Coast Electric Company, 1760 Monad Rd, Com Remodel,  $90,000

Executive Property Services/Trailhead Home Improvement, LLC, 1350 Avenue C, Com Remodel, $70,000

Deaconess Medical Center Of Billings/Bauer Construction, 2800 10th Ave N, Com Remodel, $509,643

Simon & Sherri Harper Living Trust, 1632 Grand Ave, Com Remodel, $47,082 

CHP Billings Mt Owner LLC/Master Protection Corporation, 4001 Bell Ave, Com Remodel, $5,611

Dennis & Jessie Benson/Moon Construction, 1414 4th Ave N, Com Remodel, $50,000

Kialy Iverson/Old School Contracting Inc, 5411 24th St W, Com Remodel, $4,000

Yellowstone County/Sprague Construction Roofing Division, 3319 King Ave E, Com Fence/Roof/Siding, $44,800

Debtor Co Trust/Perfect 10 Roofing, 3407 1st Ave N, Com Fence/Roof/Siding, $29,000

City Of Billings, Terry Park/T.W. Clark Construction Llc, 6th St W, Com Fence/Roof/Siding, $114,000 Western Sky Billings LLC/Beartooth Holding & Construction, 4610 Crescent St, Com New Office/Bank, $249,650

Josh Rollinger/Jones Construction, Inc, 3345 Conrad Rd, Com New Warehouse/Storage, $669,396

McDonald’s Real Estate Company, 1046 Grand Ave, Com Remodel, $19,260

Swenson, Randall D (1/2 Int), 1547 41st St W, Com Remodel, $75,000

N Schaff, Allen K Trustee, 2115 2nd Ave, Com Remodel, $175,000

Deaconess Medical Center Of Billings/Bauer Construction, 2800 10th Ave N, Com Remodel, $10,000

East Billings Investors/Blake Construction, 926 Main St, Com Remodel – Change In Use, $2,000

Jen & Jason Marble/Titan Excavation & Services, 2517 Montana Ave, Com Remodel – Change Of Use, $9,500

Residential

Frideres, Chris, 4433 Frances Ave, Res New Accessory Structure, $45,000

Ryan Mershon/Sundance Tile & Carpentry, 2019 9th Ave N, Res New Accessory Structure, $20,000

HG Design/HG Designs, 1912 W Thunder Mountain Rd, Res New Single Family, $400,000

J&S Development Co/HG Designs, 5211 Grass Mountain Rd, Res New Single Family, $400,000

Ridgewood Development LLP/Kings Mountain Builders Inc, 3395 Castle Pines Dr, Res New Single Family, $300,000

Jake Pierce, 645 Claremont Rd, Res New Single Family, $248,556

Big Sky Endeavors LLC/Emmons Building & Design Llc, 510 Omalley Dr, Res New Single Family, $332,672

L & L Construction, LLC/Lorenz Construction, 3376 Tahoe Dr, Res New Single Family, $256,894

McCall Development Inc, 1702 Annas Garden Ln, Res New Accessory Structure, $156,776

Wagenhals Enterprises Inc, 5501 First Light Cir,  Res New Single Family, $335,000

Upfront Development/ Aaron Higginbotham, 2224 Entrada Rd, Res New Single Family, $235,199

Emineth Custom Homes/Emineth Custom Homes, 3903 Pine Cove Rd, Res New Single Family, $410,000

Infinity Home/Infinity Home Llc, 1016 Beringer Way, Res New Single Family, $268,046

Infinity Home/Infinity Home Llc, 1023 Matador Ave, Res New Single Family, $201,672

High Sierra Ii Inc/Infinity Home Llc, 1019 Matador Ave, Res New Single Family, $202,845

High Sierra Ii Inc/Infinity Home Llc, 2124 Entrada Rd, Res New Single Family, $386,992

Steve Gountanis Homes Inc/Steve Gountanis Homes Inc, 5425 Burlington Ave, Res New Single Family, $320,669

McCall Development Inc/McCall Development, 1702 Annas Garden Ln, Res New Two Family, $257,568

Agencies Increase Guest Worker Visas

8 June 2021
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The Department of Homeland Security (DHS) and the Department of Labor (DOL) have published a joint temporary final rule  making available an additional 22,000 H-2B temporary nonagricultural guest worker visas for fiscal year (FY) 2021 to employers who are likely to suffer irreparable harm without these additional workers. Of the supplemental visas, 6,000 are reserved for nationals of the Northern Triangle countries of Honduras, El Salvador, and Guatemala.

DHS first announced the planned supplemental increase of 22,000 visas for the H-2B Temporary Non-Agricultural Worker program on April 20, 2021. The supplemental H-2B visa allocation consists of 16,000 visas available only to returning H-2B workers from one of the last three fiscal years (FY 2018, 2019, or 2020), and 6,000 visas for Northern Triangle nationals, which are exempt from the returning worker requirement.

“Today’s joint rule helps American businesses and addresses the need for robust worker protections,” said Secretary of Homeland Security Alejandro N. Mayorkas. “For the first time, we are setting aside supplemental visas for noncitizens from Northern Triangle countries, in furtherance of President Biden’s and Vice President Harris’ direction to expand legal pathways for protection and opportunity for individuals from those countries.”  

“The temporary final rule is designed to prevent permanent and severe financial loss to U.S. employers by supplementing the congressionally mandated H-2B visa cap, takes into account feedback from American businesses, employer organizations, and labor representatives, and is one piece of the administration’s broader comprehensive framework for managing migration throughout North and Central America,” said USCIS Acting Director Tracy L. Renaud. “This rule incorporates several key provisions to ensure adequate safeguards for U.S. workers and H-2B workers. The rule requires that employers take additional steps to recruit U.S. workers, and provides for “portability,” which allows H-2B workers already in the United States to begin employment with a new H-2B employer or agent once USCIS receives a timely filed, non-frivolous H-2B petition, but before the petition is approved. Portability enables H-2B workers to change employers more quickly if they encounter unsafe or abusive working conditions. DHS and DOL will also conduct a significant number of post-adjudication reviews to ensure compliance with the program’s requirements.”

Starting May 25, eligible employers who have already completed a test of the U.S. labor market to verify that there are no U.S. workers who are willing, qualified, and able to perform the seasonal nonagricultural work can file Form I-129, Petition for a Nonimmigrant Worker, to seek additional H-2B workers. They must submit an attestation with their petition to demonstrate their business is likely to suffer irreparable harm without a supplemental workforce. Additional details on eligibility and filing requirements are available in the temporary final rule and the Temporary Increase in H-2B Nonimmigrant Visas for FY 2021 webpage.

Is Cash King In the Billings Real Estate Market?

21 May 2021
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By Lowell Cooke, Coldwell Banker The Brokers

In a survey of closed home sales in the Billings Metro area, 502 single family homes closed from January 1 to April 30th.  Of the 502 sales (including mobile, manufactured and modular homes) 72% sold for full price or greater.  72%!!  Many of the homes selling for over full price sold anywhere from $500 to $30,000+ over asking price.

Cash Vs Financing

Having been on the losing end of several multiple offers, representing the buyer, and with over asking price offers, some of those loses were to cash offers.  I thought I would do a little research into how many of these closings were cash sales.  In this “feeding frenzy” environment, where the true laws of supply and demand are in play, where too many buyers chase too few homes for sale, multiple offers for over full price seem to be the norm.  Even with an offer many thousands of dollars over full price, an offer which involves bank financing is more likely to lose to a cash offer, even if it is more than the offer which is cash. The reasons sellers like cash offers, other than the obvious, there is no appraisal or loan constraints and close sooner.

“Escalation” Clauses

Obviously, most of us don’t have cash to buy a home. So, depending on how badly a buyer wants to buy a home, there have been some creative methods used to make offers involving financing more attractive to sellers when the buyer doesn’t have cash.  One I have seen, is where an offer involves an “escalation” clause.  Since only the seller and the listing agent are privy to the details of all the offers (it is unethical to disclose what the offers details are) some buyers are offering to pay over what the highest offer was, by a certain dollar amount or escalating their offer up to a maximum amount the buyer would be willing to go.  This can lead to some contentious offers and counteroffers.

Appraisal and Inspection Contingencies

Another way buyers are using to make their financed offers more attractive is to forgo the appraisal and inspection contingencies.  Buyers forgoing the inspection contingency will accept the property in “as is” condition and will not require the seller to make any repairs.  This can be a risky situation and even if the buyer gets an inspection and finds reasons to back out, earnest money will be forfeited.  Removing the appraisal contingency means if the property fails to appraise for the sales price, the buyer is willing and has the ability to pay, in cash, the difference between the appraisal price and the sales price, since the lender will only loan on the lower value.  In other words, if a property sells for $300,000 and it appraises for $295,000, the buyer must have an additional $5,000 over and above the required down payment.  

Guerilla Warfare

This is the guerilla warfare which is taking place in our current real estate environment.  So, is cash king?  It certainly has been a factor and one which has increased by roughly 30% since last year.  Of the 502 closed sales through April 30th  this year, 20% involved cash sales. Putting that into perspective, cash sales in 2019 accounted for 17% of the closed sales, 15% in 2020.  While cash sales have increased, as a buyer, you still can compete against cash offers, but is not what our typical modus operandi has been forever.  The buying environment right now is one of increasing prices and buyers having to give up contingencies which were a standard of practice. 

Price Gouging?

Once again, if you are a buyer, be prepared for these realities and if you are a seller be prepared for multiple and more than likely, offers over asking price.  One caveat, as a seller, the market still knows an overpriced property.  Thinking you can set an outlandish price and get it might not happen.  The typical situation now when a home comes on the market, is to allow 3-5 days of buyer showings and then having sellers evaluate all the offers and responding to them at the end of that period.  As a seller, if you have many showings and no offers after the initial showing period, you have a pricing problem.  The market will always find its level. 

Beartooth Bank to Hold Grand Opening for Second Location

21 May 2021
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Beartooth Bank, a division of American Bank Center, celebrates the grand opening of its newest location in downtown Billings with a ribbon cutting on Monday, May 17. This is Beartooth Bank’s second location in Billings and is located at 123 N. Broadway Ave. 

The community is encouraged to visit the new 7,000 square-foot bank and register for prizes during the grand opening celebration May 17-20. There are chances to win prizes each day with a grand prize drawing on the last day.

In addition to personal banking services, the new downtown location is focused on offering effective and efficient banking solutions for businesses as well. Services provided include commercial lending, agricultural banking, retail, digital services, consumer lending and home mortgage. There will be an opportunity for future expansion to meet customers’ trust and insurance needs.

It also features American’s Branch of Tomorrow concept, which includes industry-leading technology and a model of service that provides more convenience by having one point of contact for all of a customer’s banking needs.

 Beartooth Bank’s other location is at 4130 King Ave. W., Billings.

Big Sky EDA to Receive Bank Foundation Community Grant

20 May 2021
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Big Sky Economic Development (BSED) will receive a $12,000 U.S. Bank Foundation Community Possible grant to be directed toward financial education for small businesses and workforce development initiatives.

The U.S. Bank Foundation is committed to making Community Possible through the areas of Work, Home and Play to create lasting change. The foundation does this by focusing on meaningful impact in the communities it serves and through meaningful partnerships with local nonprofits, like Big Sky Economic Development.

Bill Davies, U.S. Bank Regional President, said “We know that a strong small business environment and an educated workforce ensures the prosperity of our communities. We provide grant support to programs and organizations that help small businesses thrive, allow people to succeed in the workforce, provide pathways to higher education and gain greater financial literacy. Big Sky Economic Development is a tremendous advocate for small business and workforce development, and we can’t think of a better partner to help us fulfill this work.”

“This grant will allow us to continue our mission of helping small businesses start and grow in our region and allow us to continue to offer key programs related to workforce development,” said Steve Arveschoug, Executive Director for BSED.

Big Sky Passenger Rail Authority Expands to 13 Member Counties

19 May 2021
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The Big Sky Passenger Rail Authority (BSPRA) grew a bit larger when its board of directors approved Carbon County as the newest member of the Authority. The addition of Carbon brings the number of counties that have joined the BSPRA to 13, stretching across the state from Wibaux County on the North Dakota border to Sanders County on the Idaho border.

“Being a member of the Big Sky Passenger Rail Authority is a big deal for Carbon County, and we look forward to what it brings to citizens of our county,” Carbon County Commissioner Scott Miller said. “Montana is moving forward into the future, and Carbon County has to move with the state to bring the economy and infrastructure needed to support this and the next generation. We need Montanans to stay in Montana and good people to move in to help keep Montana alive.”

With the addition of Carbon County, the BSPRA will look to continue growing in the coming months. Other counties are currently considering petitioning the Authority for membership. The BSPRA remains hopeful that eventually all the counties eligible to join the authority – both those along the former Amtrak North Coast Hiawatha route and those along the former passenger routes running south to Denver and Salt Lake City – will do so.

Girders Going Up on Bridge

18 May 2021
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Bridge girders, the horizontal beams that will support the new roadway, are being placed on the Billings Bypass Yellowstone River Bridge. The new bridge will consist of 112 girders constructed of weathering steel, which provides a protective coating that does not require painting. The girders are being placed on the concrete bridge piers that were constructed earlier this winter. The temporary bridge will be removed once the new bridge deck has been built. Wadsworth Brothers Construction is building the bridge and are planning to be mostly complete by the end of 2021. The bridge will provide motorists, bicyclists and pedestrians a connection between Lockwood and the Billings Heights.

7-digit Calling Coming Soon

7 May 2021
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Soon all local calling will require dialing the “406” area code in order to make the National Suicide Prevention Lifeline effective.

Spectrum announced the implementation of a new 10-digit dialing procedure for Spectrum Voice customers and Spectrum Business Voice clients in Montana, allowing users to easily reach the National Suicide Prevention Lifeline via the new 988 dialing code when it launches in July, 2022.

While seven-digit dialing will remain enabled for several months, beginning October 24, all local calls will require customers dial the area code followed by the seven-digit phone number in order for a call to be completed. Additionally, important safety and security equipment, such as medical alert devices and alarm systems should be programmed to use 10-digit dialing. Beginning July 16, 2022, dialing 988 will automatically route calls to the National Suicide Prevention Lifeline. Prior to next year’s launch, customers must continue to dial 1-800-273-8255 to reach the hotline.

The new dialing procedure is the result of an FCC order approving 988 as the three-digit abbreviated dialing code to reach the National Suicide Prevention Lifeline. In order for 988 to operate correctly for Spectrum customers in the 56 area codes listed below, every customer in those area codes must be transitioned to 10-digit dialing for local calls.

Inner Belt Loop Progresses

7 May 2021
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The City of Billings hopes to be able to issue a request for bids for the Inner Belt Loop a year from now.

The City of Billings Planning Department released an update last week on the progress of the Inner Belt Loop as it relates to the federal Build Grant, which the city won to help fund the project.

City staff is in the process of meeting all the requirements outlined in the grant in order to enter into an agreement with the Federal Highways (FHWA) department. The agreement cannot be submitted until the construction documents are ready, which means the completion the right-of-way purchase, environmental documents and final construction documents. Staff expects to be able to submit all that information by fall, with another six months required for the FHWA review, putting an executed agreement into April 2022. 

Once the city receives the executed agreement from FHWA, the project will be put out for bid.

Billings was awarded $11.6 million in federal BUILD grant funds to construct the Inner Belt Loop and Skyline Trail in September 2020. The grant award was for only a portion of the requested sum of approximately $16.8 million to complete the Inner Belt Loop, and the pedestrian/bike trails, Skyline and Stagecoach. The City of Billings is supplementing the project with $7 million and $85,000 is being donated from Billings TrailNet.

City planning expected to receive six appraisals for right-of-way procurement at the end of April.

The city has also been in negotiation with an environmental professional who has completed the NEPA environmental process for other recent TIGER and BUILD grants, and believe that his services will cost less than $50,000 to do similar work for Billings. 

They anticipate completing the environmental scoping and contracting also by the end of April, with the environmental (NEPA) work completed within about 6 months.  The consultant will work to prepare the field review and reports, submittals by the consultant to various agencies, and review by agencies for approval.

A date will be announced for the official kick-off event of the project.

Marijuana Business May Boost Commercial Real Estate

7 May 2021
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As marijuana becomes legalized in more parts of the country and as an increasing number of states grow, harvest, store, sell and allow consumption, the nation’s real estate industry has felt the effects.

According to a new report from the National Association of Realtors, there has been a noticeable rise in demand for warehouses, land and store fronts used for marijuana.

A DEA agent in Montana concurred with that assessment, advising that one of the economic impacts that Billings will see is the buying up of large warehouses or other large open-spaced buildings which will be “gutted” and converted to the growing and production of marijuana.

The 2021 survey, Marijuana and Real Estate: A Budding Issue, examines the impacts of marijuana on real estate in terms of both “medical only” and legalized “medical and recreational” comparing data going back to before 2016.

More than one-third of respondents in states where marijuana has been legalized, said inventory is tight for multiple reasons and cited the marijuana industry as one of the factors. This is also true for those in areas where marijuana was more recently legalized, as 23 percent of Realtors also partially blamed the marijuana industry for the limited inventory.

“The dynamics of marijuana have been far-reaching over the past year, which is evident when you see how it has impacted real estate,” said Jessica Lautz, vice president of demographics and behavioral insights for NAR. “As the marijuana laws continue to evolve, Realtors have witnessed increased demand for commercial properties to store, grow and sell marijuana.”

Additionally, 29 percent of commercial members in states that legalized recreational marijuana during the past four years reported growth in property purchasing over leasing in the last year. Nearly half of those in states that legalized both medical and recreational marijuana before 2016, said that they have experienced addendums being added to residential leases that restrict tenants growing marijuana on properties, compared to one quarter or less in other states. Sixty-nine percent of commercial members in states, where only medical marijuana is lawful, said that no additional addendums were being seen in leases concerning marijuana plants. This compares to 45 to 55 percent, where both medical and recreational use are legal.

Possibly in an effort to steer clear of landlord addendums, some marijuana business investors outright bought property rather than leasing, which means they no longer had to adhere to marijuana rules or regulations that they may have considered burdensome. This trend was seen the most in states where marijuana is newly legal.

Among respondents in states where recreational marijuana is legal, they more often said that homeowner associations regularly had policies or restrictions in place pertaining to smoking and growing marijuana. Nearly half of homeowner associations were against smoking in common areas, while about two-fifths prohibited growing in mutual open areas, such as a private yard without fences.

“We saw that a number of property owners at some point in the past had difficulty leasing their property after a previous tenant consumed marijuana there over an extended period,” said Lautz. “To avoid repeats of those issues, landlords have implemented various guidelines that place numerous restrictions on the use of marijuana.”

Lautz says property owners who have imposed such constraints tend to reside or own property in states where marijuana has been legal the longest.

As the marijuana industry evolves, both commercial and residential landlords are balancing efforts to profit from it, while also ensuring that their property remains desirable and at a high value, Lautz said.