Bozeman Montana Real Estate Information Archive


Displaying blog entries 1-7 of 7

Real Estate: A Beacon of the Economy

by Tim Hart
More and more economic analysts are calling the housing market the bright light in the overall economic recovery. Home sales for existing homes ($100,000+) have risen since this time last year in nearly every region in the country. In addition, inventories have dropped nearly 26%. These two trends have done wonders to stabilize and improving market conditions.

“The housing market is clearly superior this year compared with the past four years,” says Lawrence Yun, NAR’s chief economist. “The latest increase in home contract signings marks 13 consecutive months of year-over-year gains.”

Consumer confidence, a number economists look at to predict the vitality of the future market, is greatly impacted by the improving housing market as home equity still accounts for over 16% of household net worth.


Source: “Will Housing Lead A U.S. Recovery?” Forbes (Aug. 27, 2012)

Tim Hart


At Home In Bozeman--Tim Hart


Bidding Wars on Listings: Make Your Phone Blow Up

by Tim Hart

Bidding wars is a phenomenon in real estate right now. As buyer demand rises and inventories shrink, sellers are reacting by trying to underprice their home just enough to spark a bidding war. In some of the markets, this technique is ‘paying’ off.

Douglas Rill, a broker with Century 21 America’s Choice in West Palm Beach, Fla., told the Sun Sentinel that a lender informed him to underprice a foreclosed home for $37,600. While the home had a leaky roof, among other problems, comparable sales in the neighborhood would have shown the home valued more at $50,000, Rill says.

Not all situations are like this though, and real estate agents are cautioning sellers to lessen the risk by pricing their home at the lower end of market value, but not to undersell themselves. This will prompt more buyer attention without ending in a loss.

If you are curious as to what your listing’s CMA, feel free to give me a call! 406.570.5730 or EMAIL ME

Source: “Multiple Offers Possible in Tight Housing Market, Experts Say,” Sun Sentinel (Aug. 23, 2012)


Tim Hart


At Home In Bozeman--Tim Hart


 I have been following the Black Bull story for years.   My golf days are numbered as my passion is fly fishing, but  I know my way around a golf course and more importantly, I see some great ‘traction’ at Black Bull.

If you don’t know the background, the owners of Black Bull gave the property back as they couldn’t make it work based on their initial investment – follow this link for details -


After a Chapter 11 bankruptcy filing by the developers, the property was auctioned to the highest bidder.  The winning bidder was a developer from California - Rob Schumacher -  backed by Cross Harbor Capital Group out of Boston – this is the same group that won the bid to buy the Yellowstone Club .  Both the Yellowstone Club and Black Bull are now on solid footing – see this article for details

Summarizing, the developers purchased 300 plus vacant lots, a club house and a Tom Weiskopf golf course for about $8.1 million.

Since Aug 1, 2011, the new owners have

  • Sold 20 properties  (18 land and 2 homes)
  • An additional four properties are pending (2 land and 2 homes)
  • The home sales were all $500k plus - both pending and solds
  • Land prices averaged about $148k – high being over $200k

The developers have been getting a pretty decent return since the bought this project and moment is fantastic.  If you would like to learn more about Black Bull or if you are in town and want a tour, I can set this up with a day or two notice.  Just e-mail me at or call 406.570.5730. It is a beautiful project.




Tim Hart


At Home In Bozeman--Tim Hart


Outlook for the Gallatin Valley (Bozeman, Big Sky,  Belgrade and more)

Activity in Bozeman is very brisk and even bigger news, Big Sky is really starting to gain momentum.  With a luxury market such as Big Sky being a lagging indicator, momentum in this market is a very positive sign.  Bozeman is taking off – the stats below prove this out and just seeing what is happening in the local real estate market is wonderful to watch.  The realtors and their suppliers are very busy, prices are rising, days on market stats are shrinking.  It is a great place to live and the stats just prove this out.

Stats for Improved Properties:

Market Area

Units Sold – 2012

Units Sold – 2011


Median Price – 2012

Median Price – 2011

Days on Market – 2012

Days on Market - 2011


















Big Sky
















Three Forks








Summary of Data for Improved Properties:

  •  Bozeman has really hit a groove – 81 more properties sold year to year, median price is climbing and days on market have dropped. 
  • Belgrade also improved.  10 more units have sold year to year, median price up and days on market are down.
  • Big Sky statistics are mixed.   Median price is up almost $50k, units sold down a touch and days on market are still behind last year.  The trend is improving and should continue to.    As noted, Big Sky market activity is very vigorous.  I expect these stats to continue to improve each month.
  • Manhattan is a mixed bag – median price up.  Units sold stagnant and days on market are actually up.
  • Three Forks a very similar story but days on market and median price are both improved.

Overall, the Gallatin Valley is very healthy and continuing to improve!

Call, e-mail or text me for more information on the market and to get signed up for property alerts  which are daily updates based on your parameters or visit my web site..  I look forward to serving you!   Tim

Tim Hart


At Home In Bozeman--Tim Hart


BUY A HOME NOW: 4 Undeniable Reasons

by Tim Hart
  • PRICE IS RIGHT- Single-family home prices are at a decade low with their median reaching $154,600 in January! During the house market’s peak, this same figure was $230,900.
  • BUYING V. RENTING BALANCE– As many of my blogs have been emphasizing, the balance that is ever shifting between home-ownership and renting is firmly on the side of home-ownership. Rents are on a sharp rise and home affordability is as well. Two trends that make a big statement.
Read more about this issue:
  • INVENTORIES– Inventories are shrinking. “When excess supply dries up, people start building more new houses, which has the virtuous effect of reducing the unemployment rate and increasing the economy generally,” according to a USA Today article.
  • MORTGAGE RATES– The average 30-year fixed rate mortgage (most popular choice for hoem buyers) is 3.59% just above the all time record setting rate of 3.49% that was recorded in July.
“It’s hard to argue against buying a house now, assuming you can get a loan,” writes John Waggoner, a columnist with USA Today. Sure, Waggoner says that getting a credit check for approval of a mortgage can be a “only slightly less intrusive than a CIA background check,” but for those who are able to qualify, a lot of analysts say that now can be a good time to purchase a home.
Source: “If You Can Pull it Off, a House is a Smart Investment,” USA Today (Aug. 9, 2012) 

“Distressed properties can have great appeal,” says Wendy Forsythe, executive vice president at Atlantic Pacific Real Estate. “Discounted prices and historically low interest rates make these homes affordable to many families who might otherwise not be able to buy a property. But buyers also need to be selective because not every distressed property is a bargain.” 

Typical discounts on foreclosures are at about 19% on average. That number gets brought up and buyers have a tendency to become blinded to other relevant details that are top priorities in real estate. Here is a convenient list to keep in mind if you are looking to save the big on the distressed property sales:

Know any prior claims on the property. “If a distressed home has been financed with two or more loans then the sales process can be far more complex,” according to an article for RISMedia written by Atlantic Pacific Real Estate.

Get Financing. How does a buyer hope to purchase the property? By preparing financing in advance, buyers are able to move more efficiently when a distressed property does come on the market.

Judge the Condition. Getting a deal my result in getting in over your head. Getting a thorough home inspection prior to committing financially to anything!

Foresee Delays In Advance. Ask your realtor to talk you through any potential delays.

Source: “Buying a Distressed Home: What You Need to Know,” RISMedia (July 15, 2012)


Buying Continues to Trump Renting

by Tim Hart

Yeah yeah, we have all heard the pros of buying a home versus renting, but when it comes down to it; do consumers act upon all that advice? Yes.

A new study has shown that in more than 75% of metro areas in the US, home owners would start saving money after only three years of home ownership as compared to renting. This figure includes down payments, closing costs, mortgage payments, property taxes, utilities, and even maintenance costs. Three years is just the average. In Miami, the turn-over to benefit only takes 1.6 years where as in California the same figure is 8.3!

"Historic levels of affordability make buying a home a better decision than ever, especially considering rents have risen more than 5 percent over the past year," says Stan Humphries, Zillow’s chief economist.

Source: “Buying Beats Renting in Most Cities,” CNNMoney (Aug. 2, 2012)

Read More

The Buy vs. Rent Debate: Why Buying Wins
Rents Keep Rising as Demand Soars



Displaying blog entries 1-7 of 7