bozeman homes for sale: Gallatin County Real Estate Update - Single Family Home April 2016 - 06/08/16 03:03 AM

This month, we will compare single family home sales in the Gallatin Valley through April 2016 to last year’s home sales and help reveal trends in the market. Here are a few stats:
2016 sales are currently projected to drop by 21.62% (1,485 in 2015, 388 through April, projected to 1,164 sales in 2016) Dollar volume is projected to drop by 24.05% ($663,572,593 in 2015, $167,993,026 through April, projected to 503,979,078 in 2016) Currently, homes are moving slightly faster than last year, staying on the market 2.06% shorter than 2015 (97 days on the market in 2015, 95 days on the … (0 comments)

bozeman homes for sale: For Sale/For Rent Properties To Improve Affordability in Bozeman - 03/03/16 01:07 AM

Over the past few months, the City of Bozeman and local builders alike have worked hard to continue making homes more affordable in Bozeman.
For Rent
Bozeman has partnered with developers GMD Development from Seattle and Homeward out of Missoula. Together, they are building a 136 unit for rent, affordable apartment complex. Bozeman helped fund $200,000 for the project using the workforce housing levy.
The complex will be made for residents who earn 60% or less of Bozeman’s median income. Rents will range from $560 to $940 a month. The units will be subject to a rental control clause that will keep rents at … (0 comments)

bozeman homes for sale: Bozeman Continues to Improve Local Trail System - 02/23/16 12:53 AM

The Gallatin Valley Land Trust, the City of Bozeman and the Western Transportation Insititute received additional funding last week to improve the West Side Trail between Bozeman Pond Park and Gallatin Regional Park.
The West Side Trail is used by runners, walkers, bikers and travelers alike. Children also use the trail as an alternative to streets and sidewalks to get to school by foot. The trail is a major artery between two of Bozeman’s major parks.
The three groups mentioned above received $167,000 to improve the trail from the Transportation Alternatives Program. A majority of the money will go to improving road crossings … (0 comments)

bozeman homes for sale: Bozeman Commission Passes Inclusionary Zoning Plan - 11/19/15 02:16 AM
After nearly a year of discussion and research from residents, consultants and builders alike, and after a voted delay in September, the Bozeman City Commission decided to move forward with a two-stage plan to help lower home values in Bozeman.  The plan, ideally, will help Bozemanites with modest means better afford to buy homes within the city limits.
Although the areas surrounding Bozeman have more reasonable home and rent values and although Bozeman’s cost of living is not outrageously above national averages, the city made it clear, by their decision, that they want Bozeman itself to remain a diverse and affordable place … (0 comments)

bozeman homes for sale: Bozeman Schools Gain 1,000 Students Over 6 Years - 11/17/15 02:34 AM
If anyone needed additional proof of Bozeman’s growth and the growth of its schools, October’s official enrollment count from the Bozeman School District showcased that growth in the last few years.
Since 2009, Bozeman schools have risen from an enrollment of 5,481 students to 6,505 students today—representing more than 1,000 additional students.
Year over year, 211 more students are enrolled in Bozeman schools than in 2014.
The headcounts set records in eight elementary schools and both middle schools. Bozeman middle schools gained 97 students, up 7% from last year, while Bozeman elementary schools have gained 91 students, up 3% from last year.
Luckily, Bozeman voters … (0 comments)

bozeman homes for sale: Bozeman Commissioners Use Eminent Domain for Traffic Improvement - 11/12/15 12:47 AM
After flirting with eminent domain for the second time in a year, this time, commissioners approved and will move forward with plans to use eminent domain to acquire an easement at the corner of Davis and Baxter Lanes.
The city has been trying to widen the two roads and add crosswalks and signals to the intersection. More often than not, owners adjacent to these streets would lose part of their land to the road expansion. Usually, the city and property owners can strike a deal in payment for land, but sometimes owners do not want to give up a piece of their … (0 comments)

bozeman homes for sale: Trending Back to Buyer’s Market? - 09/24/15 04:30 AM
Although the US housing market is certainly still a seller’s market, their advantage might be slipping. Right now, low home inventory allows many sellers in markets across the US to negotiate much harder, knowing they have another potential buyer waiting in the wings. However, as more homes continue to come on the market and stay on the market for longer, buyers will see their bargaining power increase.
Normally towards August, both inventory and demand reach their peak. Then, once the school year starts, near-term buyers disappear as they look for solidity and routine in their daily lives. Most people don’t want to … (12 comments)

bozeman homes for sale: Element Hotel Takes on Growing Bozeman Tourism - 09/21/15 04:30 AM
With tourism spending in Montana close to $4 billion, with 662 million of those dollars being spent in the Gallatin County, its no wonder Bozeman has looked to take advantage of growing tourism in the area. After reports that hotels had their weekends booked through summer before the end of May, it makes sense that new hotels might try to grab some of the growing tourism market. This coming week, Bozeman will welcome a new hotel to its downtown—the Element hotel.
The Element will be 5 stories and have 104 rooms. It will be located on East Mendenhall, just a block from … (0 comments)

bozeman homes for sale: Commercial Permits in Bozeman Up as Businesses Shift West - 09/09/15 04:53 AM
The City of Bozeman approved 447 new commercial construction projects—200 more permits than the previous year—highlighting Bozeman’s recent growth on the west end.
City officials confirmed that the west side of town has been the fastest growing and seen the highest rate change in population growth. Bozeman gave out 639 single family home permits in the last two years, with many focused on the west side of town. Businesses have seen the same trends and their shift towards the west end is a smart attempt to attract a less touched market.
As Bozeman’s downtown has become increasingly attractive to both residents and businesses, … (0 comments)

bozeman homes for sale: Developing Story Mill Community Park Receives 75K Grant - 09/04/15 09:28 AM

Story Mill Park is one step closer to becoming one of Bozeman’s biggest, best public parks after receiving a $75,000 grant from Wells Fargo Bank. Crews began work on the 55 acre park late last year and have been working on clearing buildings and opening the space need to transform the area into parkland. The grant will go towards development of the park and restoration of the segment of the East Gallatin River that flows through it.
The developers, the Trust for Public Land, will still need to collect additional funds but the donation helps them towards creating a park with a … (1 comments)

bozeman homes for sale: All Cash Transactions Down as Home Values Rise - 08/31/15 02:38 AM
Transactions consisting of only cash have now hit their lowest share since 2009. In June 2015, all cash sales accounted for 22% of all existing home sale transactions. In June of 2014, all cash sales were at 32 percent. Existing home sales continue to rise so many buyers have turned to financing their home because their overall confidence in the housing market has improved.
In March, all cash transactions fell by 33% in comparison to March 2014 numbers, suggesting that cash sales have been going down pretty consistently for the past year. According to CoreLogic, all cash sales peaked in 2011 at … (1 comments)

bozeman homes for sale: US Home Prices Reach All-Time High, Inventory Low - 08/13/15 04:24 AM
Home Prices in the United States have reached an all time high according to the National Association of Realtors. The median sale price in June for all real estate housing types reached $236,400, up 6.5% from June 2014. Not only that, that figure hit above the 2006 record of $230,400 and is an all time high.
Limited inventory and high demand have been leading to the higher prices. Home sales increased by 3.2% in June to the highest level of sale activity seen since February 2007. Steady job growth and an improving economy have been pegged as the leading cause for the … (1 comments)

bozeman homes for sale: Gallatin County Market Update - August 2015 - 08/05/15 04:05 AM
This month, we will compare single-family residence sales in all of Gallatin County for 2013, 2014 and 2015 through the second quarter. Here are a few stats for Gallatin County single-family residences:
Total Quarter 1 and 2 sales increased by 9.39% from 2013 to 2014 (554 sold in 2013, 606 sold in 2014) Total Quarter 1 and 2 sales increased by 10.09% from 2014 to 2015 (606 sold in 2014, 667 sold in 2015) Quarter 1 and 2 dollar volume increased by 23.12% from 2013 to 2014 ($198,018,584 in 2013, 243,809,312 in 2014) Quarter 1 and 2 dollar volume increased by … (0 comments)

bozeman homes for sale: Buyer Confidence Improves - Real Estate is Investment of Choice - 08/04/15 06:43 AM
For those still wondering if buyer confidence has returned to the United States Housing Market, they will be relieved when they read the new survey for released by Bankrate. According to their survey, real estate now ranks as the number one investment choice for Americans.
The company asked people how they would choose to invest their money if they had extra cash lying around. Twenty seven percent of Americans chose some form of property investment – the highest ranked answer of all other options. With signs of a normalizing real estate market, buyers are feeling confident that once again, real estate will … (0 comments)

bozeman homes for sale: Walkable Communities Most Popular for Millenials - 07/31/15 07:35 AM
The walkability of cities and towns in the United States has become increasingly important for homebuyers – particularly its youngest generation. According to a new study released by the Transportation Research and Education Center at Portland State University, millenials show a strong preference to having a home that’s within walking distance of local amenities. These home buyers, those aged 18 to 34, preferred walking over driving by 12 percentage points.
All age groups saw walkability as a major asset in choosing a home—so much so that 48% of all respondents wanted a small home and yard within walking distance of activities, rather … (2 comments)

bozeman homes for sale: Library Receives 300k to Get Mobile Library Rolling - 07/29/15 09:18 AM
In late February, The Bozeman Public Library crafted plans to bring books to local residents who might not be able to make it to the library themselves. Now, with a 300,000 dollar donation, the library is 5/6 of the way to their fundraising goal. The donation came from a private person—really showing Bozeman’s community driven perspective in its essence.
The bookmobile will need anywhere from 9 months to a year to become fully operational and library staff will still need to decide the size of the new mobile library. Current plans include having a wi-fi hotspot along with iPads and laptops to … (2 comments)

bozeman homes for sale: Land of Stucky Road Considered for Annexation - 07/28/15 03:33 AM
Bozeman City Commissioners will vote next Monday on whether to annex a piece of land of Stucky Road in order to zone it for apartment style residences. The commission has seen several bids to annex additional land into the city in the last year. Bozeman continues to find ways to add additional home inventory to keep home values reasonable.
The land off Stucky is currently set for agricultural use and nearby farms are concerned about adding more residential lots on high quality, useable soil. Both farmers and developers made their pleas to the City Zoning Commission and though the zoning commission voted … (0 comments)

bozeman homes for sale: United States Foreclosure Numbers Keep Dropping - 07/27/15 03:40 AM
The total foreclosed on homes has dropped to its lowest level since December 2007 according to CoreLogic’s May 2015 National Foreclosure Report. The report states that the number of foreclosures nationwide dropped to 41,000 in May. Today’s foreclosure totals are now 65% lower than the number of completed foreclosures in 2010.
The report continues a similar trend reported early in the year, when foreclosures fell by 27% in February and completed foreclosures fell by 15% year over year. 
Mortgages also have seen big drops in delinquent payments. Mortgages in serious delinquency—or mortgages that are 90 days or more overdue—dropped by 23% in May … (3 comments)

bozeman homes for sale: Buying Cheaper Than Renting in 66% of United States Housing Markets - 07/24/15 09:26 AM
According to a study by Realty Trac, 66% of housing markets in the United States provide cheaper monthly payments when buying a home compared to renting a home. Coupled with the fact that buying provides additional benefits that renting does not, if the two are even close, buying will be a better financial decision. Having rent actually cost more makes it a no brainer for anyone who has a down payment and qualifies for a loan to buy a home rather than rent a home.
The study looked at 285 counties in the United States. Of the counties surveyed, 188 of them … (1 comments)

bozeman homes for sale: Bozeman Won't Cut Parks, May Trim Lots for Affordability - 06/22/15 09:44 AM
Bozeman City Commissioners rejected the proposal by Bozeman area builders to lighten parkland requirements to make homes more affordable. They city remained open to the idea of lowering lot size requirements to increase inventory and lower prices of homes in Bozeman.
Bozeman builders were asked by City Commissioners to come up with several proposals in mid March to lower the prices of homes in the area. Despite high permit requests, new construction has not alleviated rising home values. Builders pushed for less mandated parkland in new subdivisions—a request, they believed would help lower prices while keeping their jobs affordable and feasible. City … (0 comments)