History of John Bozeman

John Bozeman was born in Pickens County, Georgia, in 1835. Like so many men of the Civil War era, he was struck with gold fever and headed west in 1858, abandoning his wife and three children. Bozeman came to Montana from Colorado in 1862 after his lust for gold fizzled when his claims failed to pan out. Seeing a need to supply the mining camps of Bannack and Virginia City, he realized it would be more profitable to “mine the miners” than to mine gold. In 1863, he and John Jacobs blazed the Bozeman Trail, a cutoff route from the Oregon Trail, and guided miners to Virginia City through the Gallatin Valley.

Bozeman saw the fertile Gallatin Valley as a most desirable place to live. He chose the site “standing right in the gate of the mountains ready to swallow up all tenderfeet that would reach the territory from the east, with their golden fleeces to be taken care of” to make his fortune. In 1864, Bozeman, along with Daniel Rouse and William Beall, platted the town which would bear his name. The Bozeman Trail passed directly through the Gallatin Valley and was used by travellers until 1868 when it was closed because of the Indian Wars. It served its purpose; emigrants who saw the lush valley settled in Bozeman’s fledgling town.
 
John Bozeman was murdered under mysterious circumstances along the Yellowstone River, east of present-day Livingston, in April, 1867, three years after establishing his town. His partner on the trip, Tom Cover, reported they had been attacked by a band of Blackfeet Indians. Inconsistencies in Cover’s story have led historians to suspect Bozeman was murdered, either by Cover, or possibly by a jealous husband of one of the few women in town.
 
Local hysteria over a possible Indian attack so close to town led to the establishment of Fort Ellis, three miles east of Bozeman. Fort Ellis kept the tiny settlement afloat by providing protection and a market for local farmers and merchants.
 
John Bozeman is buried in Sunset Hills Cemetery.

 

Thanks to the City of Bozeman website.

Flying high in Big Sky Country

By SCOTT McMILLION Chronicle Staff Writer

BELGRADE – When Gallatin Field General Manager Ted Mathis began working at the airport in 1981, there were 29 hangars for private planes.

ERIK PETERSEN/Chronicle Jets line the tarmac as Yellowstone Jet Center workers tend to them over President’s Day weekend, an especially busy time for the Jet Center. Today, there are 165, including the 17 new ones built last year.

When it comes to expensive toys, private planes are right up there. A modest model costs about the same as a new diesel pickup, around $50,000, and renting one of those new hangar spaces can cost hundreds of dollars a month. And then there’s the insurance and fuel.

Clearly, a lot of people in the Gallatin Valley have a lot of disposable income.

Most of the local planes run on propellers, but 27 private jets are registered here, too, Mathis said. And they comprise only a fraction of the private jet traffic.

 

Read More…

 

Conservation in the West

By SCOTT McMILLION Chronicle Staff Writer

Region’s natural beauty draws newcomers, bolsters economy, triggers bitter battles

ERIK PETERSEN/Chronicle A deck on the main lodge at the Sun Ranch overlooks a sweeping view of the Madison Range. “Henry David Thoreau didn’t build a trophy home.”

Jim Barrett, Park County Environmental Council

Thanks to modern four-wheel-drive vehicles, you can live at an elevation of 7,000 feet and still be a soccer mom.

“It’s as much of a revolution and a change in the demographics as the horse was for the Plains Indian,” said archeologist Larry Lahren, who is also a Park County commissioner. “It’s been a revolution in terms of people moving into this area, particularly the hinterlands.”

 

Read More…

Money Changes Everything…

By SCOTT McMILLION Chronicle Staff Writer

EDITOR’S NOTE: The economy in the Gallatin County area has boomed in recent years, in large part because wealthy people have built homes here. That trend has spread a lot of money around. This week the Chronicle takes an in-depth look at this new economy. Staff Writer Scott McMillion looks at business, philanthropy, agriculture, the environment and the people driving the new economy. Opinions differ as to whether the new wealth is a godsend or an affliction. Either way, the effects are both profound and critical to the region’s future.

ERIK PETERSEN/CHRONICLE Yellowstone Club owner Tim Blixseth stands in front of the 120,000-square-foot Warren Miller Lodge at the club. “That’s your basic $100 million lodge,” Blixseth said. Robert Redford and Tim Blixseth don’t have much in common, aside from their big impact on Montana’s landscape.

One is a Hollywood actor, movie producer and liberal environmental activist. The other is a jet-setting billionaire who wheels and deals in luxury real estate.

But they both changed Montana. Between them, they’ve helped shoulder the state into a new economy, one increasingly based on real estate, construction and recreation. It’s what economists call an “amenity” economy, one that relies on scenic views, pleasing lifestyles and portable money.

Redford, with his beautifully produced and photographed 1992 movie “A River Runs Through It,” made a movie star of both Brad Pitt and Montana’s scenery. The film generated tons of glowing publicity about the state, ignited a new craze for fly fishing and started a population influx and demographic shift that the Montana Department of Commerce has dubbed “A River Runs Through It Syndrome.”

 

Click Here to Read More…

Food Across America – Bozeman, Montana

Chocolate Truffles + Rare Wines in Elk Country
 

By Kristin Donnelly from Food & Wine Magazine – Published July 2008
 

On a recent trip to Bozeman, Montana, I was eager to try elk—but that turned out to be trickier than it sounds. Many Montanans hunt game and eat it at home, but restaurants are allowed to serve only farm-raised meat. All the same, I had deliciously rare pan-roasted farmed-elk tenderloin at the wine bar Plonk, along with a Midnight Manhattan, a killer cocktail made with fresh cherry–infused bourbon. I got to taste some local beer too, when I dropped in for a late-night snack at the year-old Over the Tapas. I drank amber ale from the Bozeman Brewing Company with a juicy flank-steak sandwich, which chef Jeff Merlau tops with Manchego cheese and a garlicky chimichurri sauce on a mini ciabatta-like roll.For my next carnivorous adventure, I drove just outside Bozeman to the nearby town of Gallatin Gateway. At the historic Gallatin Gateway Inn, chef Ray Rutzen often works with ingredients grown and raised around the state, and I loved his Montana Mountain Bison rib eye topped with chile-spiked butter. Even though I’m not a hunter, eating Rutzen’s bison made me feel almost like a local.

Read More Here.

The Ease Of Universal Design

Aging gracefully is at the forefront of many people’s minds. So how does that have any tie-in with a real estate article? Actually, more than you might think due to a concept called Universal Design. A relatively new concept that has appeal to a wide range of consumers, Universal Design is essentially adding accessibility to a home for people with physical limitations (whether they are currently present or simply potential in the future) in a non-stigmatizing and attractive way. This allows homeowners to “age gracefully” in their own homes when their health status changes.

Choosing a residence is a decision that homebuyers don’t take lightly, but oftentimes the choice may be somewhat short-sighted. A home’s layout and design ultimately decide how someone will use and enjoy the home after the purchase, and even how long they will be able to stay in the home. Universal Design is a user-friendly approach to designing homes where people of any culture, age, size, weight, race, gender and ability can live comfortably today and in the future. A home’s design and amenities are modified to take into consideration physical needs that require special accommodations. This includes a wide range of physical issues including poor eyesight, bad knees, or the need to use a walker or wheelchair, just to name a few.

While homes can certainly be retrofitted once the particular accommodations become necessary, there are definitely advantages to planning ahead while building a home to implement some general design features. In fact, it’s estimated to be about one-third less expensive to add Universal Design features while building a home versus remodeling down the road. Additionally, architects and designers who are on board with the concept can integrate many of the features to be nearly “invisible” in a home instead of standing out as eyesores. Incorporating the principles from the ground up can eliminate many of the limitations that accompany traditional home design and construction.

There are seven guiding principles of Universal Design features according to the Universal Design Alliance which are as follows:

1. Equitable use – the design is useful and marketable to people with diverse abilities and will not disadvantage any user. For example, controls mounted on the front of a range to allow wheelchair accessibility.
2. Flexible use – the design accommodates a range of abilities and preferences including choice in methods of use or adaptability to the user’s pace.
3. Simple, intuitive use – easily understood design without regard to user’s experience, knowledge, or language skills.
4. Perceptible information – the design communicates the necessary information effectively to the user. An example is a doorbell accompanied by a flashing light to alert a user with limited hearing.
5. Tolerance for error – the design minimizes hazards and adverse consequences of unintended actions.
6. Low physical effort – the design can be used efficiently and comfortably.
7. Size and space for approach and use – adequate space is provided to approach, reach, and use an area regardless of the user’s physical size, posture, or mobility. A simple example is doorways that are wide enough for wheelchairs or walkers to easily navigate.

A prime example of Universal Design is right here in Bozeman in the form of The Knolls at Hillcrest which is Montana ’s first active adult lifestyle community, designed for those 55 and older. Accessibility and the principles of Universal Design have been fully utilized throughout this project. The home features can be fully enjoyed by owners now with further peace of mind when planning for the future and changing needs. Just a few of the design features are one-story living, wide interior doors and hallways, lever style door handles throughout, and lighting considerations including ample natural daylight and many adjustable lighting controls.

Most people prefer the thought of growing old in the comfort of their own homes versus being relocated to some type of assisted living facility. With 25% of the population 50 years or older, and with the greatest amount of wealth being possessed by this demographic group, we could certainly see a shift in people remaining in their well-designed homes with assistance or care coming to them instead of moving to institutionalized living situations. As life expectancy continues to rise along with improvements in the medical field, the concept of Universal Design should continue to thrive.

Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com.

Published in the Bozeman Chronicle, May, 2008.

Visit us at http://www.eralandmark.com/. & http://www.stuartandsally.com/

Understand the Economic Stimulus Package

On February 13, 2008 , the economic stimulus package was signed into law by President Bush. This package includes many provisions which are important to the housing market, most notably increasing the loan limits for Fannie Mae and Freddie Mac (GSE) and the Federal Housing Administration (FHA). The National Association of Realtors ® (NAR) has shown great support for this package and predicts a jumpstart in the housing market which will help countless families and the U.S. economy as a whole. According to research conducted by the NAR, increasing the FHA loan limits could assist 138,000 Americans enter the housing market and will also give almost 200,000 homeowners the opportunity to refinance and ideally keep their current homes. Additionally, an economic impact study estimated that increasing the GSE’s loan limits could lead to as many as 500,000 refinanced loans and reduce foreclosures by 210,000. It is also anticipated that over 300,000 additional home sales could occur; there would be a reduction in housing inventory; and the prices for homes would increase and strengthen. The belief is that by increasing the loan limits for Fannie Mae and Freddie Mac, there will be improved liquidity in to the nation’s much stressed mortgage market. To use some numbers to put this in perspective, the FHA limit will increase to as much as $729,750 in high cost areas (to 125% of local median home prices) for loans approved on or before December 31, 2008 . The GSE limit will increase up to $729,750 for loans originated after July 1, 2007 to December 31, 2008 . Fannie Mae and Freddie Mac are currently topped out at $417,000. Please keep in mind these figures are estimates and not yet official figures. For those not familiar with FHA or GSE loans and their importance to the housing market, FHA loans- which are a part of the U.S. Department of Housing and Urban Development (HUD) – are insured loans, so lenders can generally offer better deals. They are often popular to first time homebuyers with a down payment as low as 3% of the purchase price, and most of the closing costs and fees can be included in the loan. Fannie Mae exists to expand affordable housing and operates in America ’s secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Freddie Mac purchases, securitizes and invests in home mortgages, and ultimately provides homeowners and renters with lower housing costs and better access to home financing. Of course, the economic stimulus package is really somewhat of a short-term answer to a bigger issue. Additionally, the loan limit increases will only be in effect for the current year. The FHA and GSE Reform Bills are currently in the works, but not yet passed into law. However, this package should meet its goal of giving the housing market a boost as well as jump-starting overall consumer spending. NAR’s President, Dick Gaylord, recently reiterated the fact that with more affordable financing options, lower housing prices, and historically low interest rates, buying a home now is more affordable than it has been in many years. Furthermore, homeownership is still the best way that most Americans can build their wealth, and is one of the best long-term investments a person can make. Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com. Visit us at http://www.eralandmark.com/ & http://www.StuartandSally.com/

State of the Market – Bozeman, Montana

As we reflect on last year from a real estate perspective, the general consensus from those in the building, lending, real estate and related industries is relief that 2007 has come to an end. The local market in general saw lower numbers of sales, and yet several segments of the market experienced higher than average sale prices from the previous year. Marketing conditions and industry sentiments, so far through January 2008, seem guardedly optimistic, with many real estate firms and title companies showing an increase in the number of closings and pending transactions from 2007. Property showing activity has increased dramatically since the holidays, and more importantly buyers are writing offers, and sellers are accepting those offers. Though some buyers are still waiting for prices to go lower, market timing is very tricky, if not impossible, to execute perfectly in the real estate business. Many buyers are finding that lower interest rates coupled with seller incentives to discount prices, offer upgrades or participate with interest rate buy-downs, make this a very attractive time to buy. This renewed market activity is a “key indicator” to the return of a more stable and balanced market. Of special note, the Big Sky market has experienced increased showings and a renewed buyer interest after having a very flat 2007. I have always thought that good snow conditions can cure a lot of economic woes. And the simple fact is the more foot traffic we have in Big Sky, the stronger business activity we will have across our region.

Let’s take a look at a few of the numbers from 2007. Also, please see the companion piece by Nicole Ritter in this issue of BTB which further explores and analyzes the numbers. All information is compiled from the Southwest Montana Multiple Listing Service (SWMLS).

Within the Bozeman city limits, the condo and townhome dominance trend continues to grow. For the third straight year, attached housing sales have surpassed single family detached housing. Both affordability and availability drive this ever increasing market segment. There were 425 condos and townhouses sold in 2007 which compares to 433 in 2006. Average price for in-town condos and townhouses was $234,936, up slightly from 2006’s average of $228,269. There were 331 single family homes sold with the average price reported at $337,683. For 2006, this same category included 379 sales units with an average price of $348,766. Even though average prices are down year over year, 2007’s average of $337,683 is up by 8% from 2005’s average of $312,723. It is important to stress that average sales prices are impacted by many factors, including land prices, building costs, design trends, square footage, etc. and have no direct correlation to appreciation or depreciation rates.

Statistics from the City of Bozeman ’s Building Division website show a noticeable increase in the new construction trend. The city issued 758 housing unit permits in 2007 compared to 670 in 2006. Furthermore, the total valuation of all building permits for 2007 increased to $243,751,248 from $192,676,993 in 2006.

The Belgrade market area is one of the more stable in our region. Belgrade ’s available residential inventory has actually decreased in the past year. As of January 1, 2008, there were only 147 single family homes available for sale in comparison to 153 at the beginning of 2007. Condo and townhome inventories are down as well from 54 units to 37. Lower supply is another “key indicator” to market stabilization. Belgrade serves many first time buyers, with an average sales price $50,000 lower than within the Bozeman city limits. The number of single family homes sold in 2007 decreased slightly to 268 from 284 in 2006. There was also a small decrease in the average price from $295,397 to $284,834. The Belgrade condo and townhouse market has slowed also in the number of units sold from 163 in 2006 to 114 in 2007, but it shows an almost 5% increase with the average sales price rising from $149,375 in 2006 to $156,499 in 2007.

The Livingston/ Park County market is also worth noting. Although the in-town single family home sales decreased in the number of units, the average sales price rose again last year to $212,773 from $203,772 in 2006, an increase of 4%. The in-town condo and townhouse market, an emerging trend in Livingston , experienced substantial growth in the number of units sold with an increase from 19 units in 2006 to 37 in 2007. The average price also increased to $171,686 in 2007 from $141,134 in 2006. The rural areas of the Park County market showed slight decreases with the total number of residential transactions declining from 74 to 68 last year. However, the average price in this segment did increase from $349,368 to $357,731.

Sales of vacant land and subdivision lots slowed substantially in 2007, caused in part by record numbers of existing homes for sale. Within the Bozeman city limits, the average price increased from $114,637 to $137,691 (a jump of 20%). Please note: this statistic also includes a number of multi-family lots and does not reflect an average sales price for a single family lot. The average sales price of land in the surrounding Bozeman area increased by 43%, and Park County experienced a 21% increase in average price. There is still an abundance of inventory in this market segment from subdivision lots to large acreages in all price points. In the city of Bozeman as of year-end there were 654 available lots for sale and in the area immediately surrounding Bozeman , 618 available lots. Belgrade had 174 lots for sale, and the Manhattan/Three Forks area had 661 lots in inventory. The good news for buyers is ample availability and choices.

In conclusion, it is important to always keep in mind that the numbers reported are somewhat inconclusive when telling the whole story. There are many “pockets” of price ranges that are faring better than others or even certain neighborhoods that go against the norm of the market as a whole. Luxury and specialty properties are bucking the national trends with water amenities and larger acreages in high demand. Positive market signs include our growing employment base coupled with extremely low unemployment and continued national attention for the region as a prime retirement and second home location.

Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com.

Visit us at http://www.eralandmark.com/ and http://www.StuartandSally.com/

So sad, the trickle down finally gets to Montana…

“A national slump in housing starts and the shaky health of the home mortgage industry are key factors in RY Timber’s decision last week to temporarily shut down its mills in Townsend and Livingston.”

Read More: Click here!

By MARGA LINCOLN
Independent Record

Published 1/20/2008

Yes, it’s finally happened. It finally came and is effecting us here in Bozeman/Livingston area. Because of the slow in the housing market in the rest of the U.S., our timber community has been negatively effected. Read the article to learn more about how this happened.

 

U.S. & Montana Economic Outlook – 2007

Bozeman and the Gallatin Valley have experienced steady, solid growth in both population growth and real estate values over the past decade.

Non-resident ownership of land in Montana was reported at 11% of property sales in the Gallatin
Valley in 2005. According to recently published U.S. Census Bureau figures, Gallatin Valley is the fastest-growing county in Montana, clocking a 19.3% growth rate between 2000 and 2006.
Economic predictions are that—if anything—Gallatin Valley will continue to grow at an even healthier pace.

• Economic Profile 2007 -
  Click here to download Prospera Business Network’s Economic Profile 2007

• Big Sky Market Report -
  
  Click here to download the Big Sky Market Report provided by ERA Landmark   
  (for Fall 2007)

 

U.S. & Montana Economic Outlook

 

This “U.S. & Montana Economic
Outlook” presentation has been brought to you by First Interstate Bank
& Stuart and Sally Platinum Properties. Please feel free to contact us if
you have any questions. 

click here to view slide show

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• 
  
  2006 – 2007 Single Family Sales Information
• 
  
  2006-2007 Vacant Land Sales Information

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This
graph shows Residential Single Family Homes in Gallatin County as of February
2008

 amount
of inventory, average price, median price, and number of days on the market.

 

 

This
graph shows Vacant Land in Gallatin County as of February
2008

 amount
of inventory, average price, median price, and number of days on the market.

 

Updated 2/2008

So what is driving the fantastic growth of the Bozeman and the Gallatin Valley real estate market?

• The distinctive Montana lifestyle
• The limited quantity of available land
• The dynamic community of Bozeman

Bozeman has been named the #1 ‘Dreamtown’ by Bizjournals.com for its quality of life and business growth, edging out Jackson Hole and Durango, Colorado. Bozeman is a small college town with a sophisticated and cultured atmosphere. Despite its size, Bozeman boasts amenities that larger urban cities would envy. No matter what the season, there are a full range of activities to
enjoy, from world-class fly fishing to the thrill of skiing to attending a wonderful symphonic concert. Whether you are starting up a business, relocating a family, or just wishing to retire
or own a second home here: an investment in Bozeman real estate is a sound decision.

Surrounded by 5 mountain ranges, with national and state land edging right up to the city and county lines, land is finite, while the sense of space is vast. Land values reflect the
precious, limited nature of available acreage, while quality homes are in short supply. Bozeman real estate continues to appreciate as more people desire to live in a place relatively free
from crime, embraced by nature, unpolluted and stress-free, in which they can create and enjoy the benefits of a lifestyle unlike any other in America.

• 
  
  2006 – 2007 Single Family Sales Information
• 
  
  2006-2007 Vacant Land Sales Information