Wally Byam Caravan Club International

Published in the Bozeman Chronicle, July, 2008.

As recently reported in the Chronicle, the Wally Byam Caravan Club International (best known and easily identified as “the aluminum airstream campers”) are in to town for their annual rally. Bozeman is fortunate enough to be the only destination to host this international rally on five different occasions. The club is estimated to bring 2,000 people and $3 to $5 million to our area in a one week period. Club members, with the average age of 60 years old, are very active and love the cool weather, the beautiful setting, and the abundance of outdoor activities found in Bozeman.

This event brings up an interesting concept of luxury RVs as a second home. While many people purchase second or multiple homes in areas they chose to vacation and spend time in, there are a growing number of people who are deciding that their second home should be mobile with a new view every day.

Manufacturers such as Prevost and Newell dominate the highest end of this market which is the $1 million+ price range. Superior technology, attention to details and interior design features makes these RVs truly an “estate on wheels”. There are about 325 RVs sold in this price range on an annual basis which shows that it is a viable market segment. And although the price tag seems high, it can certainly compete with condos or homes in resort communities and also offers the versatility of choosing a new vacation destination each trip.

Certain trends are also emerging in the high-end RV market. Fractional ownership of models that range in price from $250,000 to over a million dollars is now possible with the services of delivery, pickup, repair/maintenance, storage/cleaning, and roadside assistance coming standard. This type of RV arrangement can fit the lifestyles of those who want the luxuries such as large plasma TVs, fine leather, top of the line linens, and Italian marble flooring for a few weeks of the year without tying up a large amount of capital. Shares can range from a few weeks to half of a year of annual usage depending on how much time is desired each year.

Another concept that goes hand in hand with the high end RVs is Luxury RV resorts that go above and beyond basic hook-up features. Some amenities include spas, heated swimming pools, boat rentals, golf courses, tennis courts, and much more. A one week stay at many of these resorts can cost about the same as one night at a traditional resort hotel, further adding to the appeal of this type of lifestyle. Some of the most opulent of these gated RV resorts are located in Palm Springs, CA , Hilton Head, SC, and Naples , FL.

Financing an RV as a second home involves the same weighing of options as the purchase of a traditional second home. Self-financing by “borrowing from yourself” is one choice to consider. Bank financing is of course a popular option with different loan programs available depending on how much you are willing to put forth as a down payment (10-20% down for a new vehicle is the norm) and length of the loan (maturation generally runs 10-15 years). Used RV loans usually require a larger down payment and shorter loan term. One additional point of interest in this area is using a Second Home tax deduction on the loan interest when applicable. To qualify, the RV must simply meet the criteria of a second home which includes being equipped for sleeping, living, bathing, food preparation, and dining activities which are all standard features on any RV.

Wally Byam’s simple philosophy of showing people that they could essentially bring “home” with them as they traveled near or far appears to still be going strong. The ability to find out what’s over the next hill while feeling at home in the process is a timeless feeling.

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 our website http://www.stuartandsally.com and http://www.eralandmark.com

American Cowboy has named Bozeman one of the top 20 places to live in the West!

American Cowboy has named Bozeman one of the top 20 places to live in the West.
Bozeman was one of two Montana cities that made the magazine’s first annual list, unveiled this week in its April-May issue. Missoula, and out-of-state cities such as Bend, Ore., and Steamboat Springs, Colo., also received the honor.

Bozeman also has been named as one of the best small towns and best places to retire.

Montana State University rodeo coach Mike True said part of Bozeman’s appeal might be its mix of traditional and modern western, with amenities ranging from historic Yellowstone National Park to new-aged horseback adventures.

Read More here…

Best Place To Retire – Bozeman, Montana

By Alison Go

Posted 9/20/07

The people of Bozeman, Mont., don’t want this story to be published. They want the writers and photographers out, and they want the media to forget that their beautiful, once little town exists. “There’s the idea that ‘foreigners,’ as we call them, are going to destroy old-time Montana,” says Connie Lord, a longtime Bozeman resident and native of the state. When Lord returned to Big Sky Country after moving away for work, she discovered a transformed city. “What happened to my sleepy little town?” she wondered.

Bozeman—an outdoorsy sanctuary tucked within the Rocky Mountains, just 93 miles north of Yellowstone National Park—anchors Montana’s fastest-growing county. Bozeman is home to Montana State University, but it has also become a mecca to vacationers and tech-industry workers, along with retirees looking for peace, quiet, culture, community, and the great outdoors.

Winters in Bozeman offer excellent skiing at the nearby glitzy Big Sky Ski Resort and local favorite Bridger Bowl Ski Area. For the warmer months, hiking trails snake through the foothills and canyons in every direction, while the Gallatin, Yellowstone, and Madison rivers, less than an hour’s drive away, are teeming with avid fly fishers (fish, too).

A historic downtown boasts cafes and boutiques and serves as the venue for a seemingly endless number of art fairs and music festivals. Opportunities abound for horseback riding, and dude ranches outside town attract tourists and sometimes even locals. The university, the Emerson Center for the Arts and Culture, and the Museum of the Rockies add their own energy, culture, and academic pedigree to the scene.

For Lord, who works at the university as a research technician, life revolves around ballroom dancing and the active two-step scene in Bozeman. She meets with her partner and other dancers from all over the county several times a week to practice, a time when sprightly senior citizens can mambo with 14-year-olds.

Outsiders have found the area hard to resist, and fewer and fewer do. Bozeman has attracted plenty of wealthy retirees who gravitate toward pricey real estate on the outskirts of the city. And the influx of all those well-heeled seniors has made living in what some have jokingly renamed “Boz Angeles” nearly unaffordable. New, reasonably priced housing does exist—a three-bedroom house could go for $275,000—but for natives whose wages have not increased to match, the transformation is often startling.

Change at the Bozeman Hot Springs mirrors the town’s metamorphosis. The once dingy gathering spot has recently been transformed into a ritzy spa featuring nine pools filled with hot springs water, a fitness center, and a sauna.

Yet as corners of the town are upgraded and re-imagined to the chagrin of some locals, Bozeman’s core appeal remains the same: a sense of community that’s obvious in the city’s many groups and meet ups dedicated to skiing, hiking, painting, and knitting, to name a few. And as long as newcomers respect Bozeman’s natural beauty and small-town feel, they’re sure to feel welcome. The locals are a very nice bunch, really. Just don’t tell them you’re a reporter.

ABOUT BOZEMAN, MONTANA

Population: 33,535

Median home price: $279,300

January average temperatures (high/low): 33/14

July temperatures: 82/52

Read More Stats on Bozeman – Go to: City-Data.com

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Also on the list:

• Hillsboro, Oregon – Special Thanks to Alison Go
• San Francisco, California – Special Thanks to Justin Ewers
• Prescott, Arizona – Special Thanks to Alex Markels
• Lawrence, Kansas – Special Thanks to David LaGesse
• Fayetteville, Arkansas – Special Thanks to David LaGesse
• Concord, New Hampshire – Special Thanks to Paul J. Lim
• Smyrna, Tennessee – Special Thanks to Emily Brandon
• Peachtree City, Georgia – Special Thanks to Renuka Rayasam
• Venice, Florida – Special Thanks to David LaGesse

Source: OnBoard LLC

Thanks to www.USNews.com for the information above.

 

Second Home Paradise

Published in the Bozeman Chronicle, August, 2007.

Most people who follow the real estate market are well aware that housing sales in 2006 slowed down nationally after a phenomenal pace for five years. And while it holds true that the second home market as a whole witnessed a decline, the bright spot that emerged was a record-breaking year for the purchase of vacation homes.

The National Association of Realtors recently published the results of the 2006 Investment and Vacation Home Buyers Survey. Results show that the second home market slipped from 40% of residential sales in 2005 to 36% in 2006. To break that figure down further, investment home sales dropped by over 28%, yet vacation home sales rose 4.7% to a record 1.07 million. Additionally, vacation homes accounted for 14% of last year’s total residential purchases, which was up from 12% in 2005.

Real estate analysts were not particularly surprised by these numbers due to the fact that many of those involved in speculative real estate left the market in 2006. Therefore, investment sales dropped at a faster pace than the general residential market. Those buyers in the vacation home market are in a strong demographic group with lifestyle being the primary catalyst of their purchasing decisions.

So who are the vacation home buyers? The survey’s findings once again show that the typical vacation home owner is of the baby boomer generation. However, this year the median age decreased to 44 years old (from 52 years in 2005) with a median household income of $102,200. The properties purchased were a median of 215 miles from the homeowner’s primary residence, showing that accessibility is a key factor. David Lereah, NAR’s former chief economist, concludes that “The demographics favor vacation-home sales because large numbers of consumers are in the prime buying ages, and buyers want recreational property for personal use – investment is a secondary consideration.” This trend could certainly continue with 44.7 million baby boomers currently aged 40-49. These are the people who are now positioned to compel the market.

A quick look at where vacation homes are being purchased shows 25% in the Northeast, 13% in the Midwest , 38% in the South, and 25% in the West. Rural areas were the most popular at 29%, followed by 24% in resorts, 22% situated in the suburbs, and 10% were located in urban or city center areas. This correlates with vacation home owner’s desires to be near waterfronts (ocean, lake, and river), recreational or sporting activities such as skiing and golfing, resort areas, or mountain and other natural attractions. Additionally, there has been strong activity in towns with universities, especially those who are going the extra mile to cater to the active yet retired or semi-retired demographic.

The factor that sets apart vacation home buyers from the rest of the market is primarily the motivation for purchasing the home. An overwhelming 79% plan to use the residence for vacations or family retreats. Additional reasons, in order of response rate, included diversification of investments, use as a primary residence in the future, tax benefits, use by family member or friend, because they had extra money to spend, or to rent to others.

Although the investment home market showed significant declines, it still comprised 1.65 million sales in 2006. A brief synopsis of the typical buyer is a median age of 39 years old, earning an income of $90,250 and purchasing a home a median of 22 miles from their primary residence. Explanation for their purchase, in order of response rate, was seeking rental income, diversification of investments, tax benefits, use for vacations or family retreat, having extra money to spend, use by family member or friend, and use as a primary residence in the future. The majority of investment properties are located in the suburbs with most activity occurring in the Southern part of the United States .

It bears repeating that Bozeman , Big Sky, Livingston and Paradise Valley are ideally situated to take full advantage of this long-term trend. Our proximity to Yellowstone National Park , world-class fishing, multiple ski resorts, championship golf courses and Montana State University spell the perfect combination for a strong vacation home market for years to come.

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. All thanks to Robyn for this article!