ERA Landmark Real Estate Bozeman, Montana

The Greener Pasture - Migration Trends

In the past, I have covered the topic of Baby Boomers and how their home buying decisions and trends greatly affect the real estate market.  Another noteworthy demographic group to take a look at is college graduates on the move.  Lawrence Yun, Chief Economist of the National Association of Realtors, recently brought up some interesting points about this sector of the population. 

As a whole, college graduates make more money and display a higher rate of homeownership than those without a college degree.  And generally this group desires to settle in areas with a variety of cultural amenities and a growing economy.  College graduates seem very comfortable with relocating to new areas.  In fact, 45% of college graduates settle in new states within 5 years of graduation compared to 19% of those with a high school education.  Even with the current state of the national economy, the areas that have seen stability and even growth are predominantly those where there is an above average population of college graduates. 

So, what is an area to do to retain and attract this vibrant, talented populace?  By and large the regions that can offer high job growth, lower unemployment, higher pay, lower housing costs, and better amenities are going to be the winners on drawing in these people who will in turn boost the economy by stimulating consumer purchasing and becoming first time homebuyers. 

According to the Bureau of Labor Statistics, as of the end of July 2008, Montana ranked 9^th nationally for the lowest unemployment with a rate of 4.0%.  The rates ranged from 3.0% in South Dakota to 8.5% in Michigan with a national average of 5.7%.  Further breakdown shows Gallatin County weighing in at 2.5% and neighboring Park County at 3.1%. 

Bringing in start-up businesses and appealing to the entrepreneurial spirit of talented graduates is another way to make a community more attractive.  One example of our local community realizing this fact is the existence of Prospera Business Network (formerly the Gallatin Development Corporation) since 1985.  Pulling from their website, the private, non-profit, member-supported economic development organization is dedicated to encouraging and supporting business expansion, retention and relocation by providing access to business consulting, financing, professional development and economic research. Efforts like this make our area a viable choice for professional career development and for those looking to relocate in order to start their own businesses.  Local government decisions effecting public infrastructure and the like can also enhance our area as a "place to be". 

A final factor that we as a community can't control but is definitely in our favor is that an area with an abundance of recreational opportunities is often enough of a draw to enterprising individuals.  Although "you can't eat the scenery" is commonly heard around here, often it is enough to keep innovative people in the area long enough for their ideas and careers to take hold and keep them here.  In effect, continuing the cycle of Bozeman becoming a destination location.

Our agent, daughter of Sue Frye and close friend, Tammee Ryan has been fighting for a cure for Juvenile Diabetes for several years now. She recently rode 65 miles in "The Ride to Cure Diabetes in Whitefish, Montana". She's committed to the fight for her son and all the other children.

Below is a clip of an article from the Wall Street Journal talking about Tammee showing property during her training bike ride, to a unsuspecting bike enthusiast... great story!

Agents Show Houses by Bike, Pointing Out
Paths, Racks, 'Tuck-Under' Garage

High gas prices and growing environmental concerns are making more home buyers interested in bicycle-friendly neighborhoods. Seeing a market, some real-estate agents have traded their suits for spandex and are leading clients from house to house on two wheels instead of four.

While the development is nascent, agents in many areas of the country are offering home tours by bike. Craig Della Penna of Murphys Realtors Inc. in Northampton, Mass., started the service more than a year ago when he realized it would help clients judge whether properties are easily accessible to bike paths. "Because of the bike niche, I have new calls coming in every week," he says. Mr. Della Penna estimates about half of his 18 closings last year came about because he emphasized homes near bike trails.

Cris Noreen, a broker in the Ventnor, N.J., office of Farley and Ferry GMAC, leads clients on bike tours of five homes at a time, riding five to 10 miles per trip. He says some 20% of his sales result from the tours. In Davis, Calif., broker Chad DeMasi got the idea from a client who met him at a showing on a bicycle, telling Mr. DeMasi he wanted to ride around each property's neighborhood to get a sense of how bikeable it was.

While many of these prospective buyers pedal only for recreation -- or view a bike tour simply as a fun alternative to sitting in a broker's car -- others want to cut down on daily driving. The number of people who use bicycles to commute to work grew 28% from 2000 to 2006, when 623,039 Americans said they did so, according to the latest Census Bureau data. The U.S. bicycle industry also has been growing, with sales totaling $5.4 billion in 2007, up from $4.7 billion in 2001, according to research funded by the National Sporting Goods Association.

Targeting the cycling community is a new marketing tool for the struggling real-estate industry. In June, sales of existing homes fell 15.5% from the same month last year, according to the National Association of Realtors. Riding down streets with prospective buyers attracts attention that could result in more business, these agents say. Some Realtors also attend cycling shows and "ride to work" days to boost their client bases.

One recent Saturday, agent Tammee Ryan of ERA Landmark in Bozeman, Mont., was out riding when she got a call from a client, Matt Kemmer. She met him on her bicycle, dressed in Lycra, and apologized profusely. Mr. Kemmer, a 34-year-old software consultant who also is a cyclist, had looked at 25 other properties, but he says he bought the one Ms. Ryan showed in part because they bonded over their interest in cycling and after she pointed out a bike path near the condo. "That's what was important to me," says Mr. Kemmer, who travels extensively for work and likes to ride everywhere when he is home. As a result, Ms. Ryan has started offering bike tours to other clients.

By NANCY KEATES
August 22, 2008; Page W10

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Why Aren't You Here?
You might have it good where you live, but joining the lucky residents of these 13 towns could be the best decision of your life. Start packing...

We literally just posted a blog about Bozeman, Big Sky or Livingston always being on "THE LIST" and here it is again... Paddler Magazine ranks Bozeman as # 11th best "Paddling" destination.

Read the article here.

Here's a clip: The Town: Nestled between mountain ranges in the Gallatin Valley, scenic Bozeman is strategically placed to take advantage of a variety of sports in every season. Bridger Bowl and Big Sky Resort offer world-class skiing less than an hour from home. A bevy of blue-ribbon fishing streams are in easy reach. Yellowstone National Park lies 90 miles to the south. What else? What about first-rate mountain biking on trails and dirt roads, road bike tours, backcountry skiing, no end of skin-and-turn tele slopes, ice-boating or skating on Canyon Ferry Reservoir, and damn near endless backpacking trails throughout the Gallatin National Forest.

On the social/cultural scene, locals have their pick of several hot springs in the area and restaurants to get together with friends, like Montana Ale Works or The Bistro, both on Main Street. Montana State University adds diversity to the town, along with the world-renown Museum of the Rockies. Bozeman even has an eye toward sustainability; its new public library is a state-of-the-art, LEED-certified green building. And the Emerson Cultural Center, near downtown, offers galleries and events throughout the year. Finally, there's the annual Sweet Pea Festival every August, which brings thousands to town to enjoy the weekend of arts, performance, and music.

Here's the official list:

1. Port Townsend, Wa
2. Grass Valley/Nevada City, CA
3. Fayetteville, WV
4. Bangor, ME
5. Bryson City, NC
6. McCall, ID
7. Hood River, OR
8. San Marcos, TX
9. Wausau, WI
10. Kernville, CA
11. Bozeman, Montana
12. Sitka, Alaska
13. Glenwood Springs, CO

Keep your eyes and ears open, I'm sure this isn't the last list you'll find us....

Seems like Montana's always on 'The' lists... and we're pretty happy about that!

In late 2006, Bozeman was ranked #1 Dream Town by BizJournal.com and we're proud to say that we're still on the list this year. According to BizJournal.com in 2008, Bozeman is ranked #2, coming in just over one point (for quality of life score) below Torrington, Conneticut. Torrington was ranked #84 just two years ago. Other Montana cities on the Dream Town list are Helena and Kalispell.

Now it's Livingston, Montana's turn... they are on the chart for "America's 10 Coolest Small Towns" according to Budget Travel Magazines. A portion of the article is listed below, please follow the link to read more about the findings. To learn more about the legendary Livingston, Montana visit our website www.ERALivingston.com

"These towns all have fewer than 10,000 people-but they can rival larger cities when it comes to good food, culture, and quality of life.

"There are a lot of young people here living the good life," says Chad Johnson, co-owner of the club Highsides Brews & Tunes (103 N. Main St., 406/222-5400, highsides.com). Like many of the twentysomethings who've moved to Livingston, Johnson was drawn by the low rents (especially compared with nearby Bozeman), the access to incredible nature (Yellowstone is an hour's drive away), and the number of artists, musicians, filmmakers, and writers who call the place home. Livingston's writing community is really tight-knit, and authors frequently attend each other's readings at Conley's Books & Music (106 S. Main St., 406/222-7766). "With so many writers around, there's always someone you can talk to who knows the business," says author Tim Cahill, who has lived in Livingston since the 1970s."

Livingston, Mont.
Population: 7,062
Nearest City: Bozeman, 25 miles

Written By by Nate Schweber | September 2008 issue Budget Travel

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