ERA Landmark Real Estate Bozeman, Montana

Denise Andres
MBA, CRS, GRI, ABR - Sales Associate
Phone: (406) 556-5065
Send me an email

Denise Andres MBA,CRS,GRI,ABR,Sales Associate, of ERA Landmark Real Estate has received the National Association of REALTORS® (NAR) Green Designation, the only green real estate professional designation recognized by NAR.

Denise Andres achieved the prestigious designation after completing 18 hours of course work designed specifically for REALTORS®. The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring designees gain comprehensive knowledge of green homes and buildings and issues of sustainability in relation to real estate. They were trained in understanding what makes a property green, helping clients evaluate the cost/benefits of green building features and practices, distinguishing between industry rating and classification systems, listing and marketing green homes and buildings, discussing the financial grants and incentives available to homeowners, and helping consumers see a property's green potential.

NAR's Green Designation was developed in response to growing consumer awareness of the benefits of resource-efficient homes and buildings. The designation helps consumers who care about energy efficiency and sustainable building practices identify REALTORS(c) who can help them realize their green real estate and lifestyle goals. As an NAR Green Designee, Denise Andres has gained the knowledge and the tools necessary to become a trusted green resource for Bozeman.

For more information about NAR's newest designation, visit www.greenresourcecouncil.org

Ray Atteberry
CRS, GRI, Broker
Phone: (406) 556-5053
Send me an email

Ray Atteberry CRS, GRI, Broker of ERA Landmark Real Estate has received the National Association of REALTORS® (NAR) Green Designation, the only green real estate professional designation recognized by NAR.

Ray Atteberry achieved the prestigious designation after completing 18 hours of course work designed specifically for REALTORS®. The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring designees gain comprehensive knowledge of green homes and buildings and issues of sustainability in relation to real estate. They were trained in understanding what makes a property green, helping clients evaluate the cost/benefits of green building features and practices, distinguishing between industry rating and classification systems, listing and marketing green homes and buildings, discussing the financial grants and incentives available to homeowners, and helping consumers see a property's green potential.

NAR's Green Designation was developed in response to growing consumer awareness of the benefits of resource-efficient homes and buildings. The designation helps consumers who care about energy efficiency and sustainable building practices identify REALTORS(c) who can help them realize their green real estate and lifestyle goals. As an NAR Green Designee, Ray Atteberry has gained the knowledge and the tools necessary to become a trusted green resource for Bozeman.

For more information about NAR's newest designation, visit www.greenresourcecouncil.org

With spring snow showers carrying on, Big Sky continues to feel the effects of winter while looking forward to sunnier days. Likewise, off-season gives everyone a chance to reflect on the season, evaluate their position in life and plan for the trail ahead.

It is easy to be distracted by the "noise" and mixed messages the media sends regarding the national real estate market. Now more then ever it is important to analyze the local market and make informed decisions based on accurate data.

ERA Landmark Real Estate specializes in market analysis to keep both buyers and sellers abreast of the opportunities and challenges of our current market. Many Big Sky property owners look back at the investments they have made over time and recognize the smart moves that they either made or did not make. A few people may even lament the offer or opportunity that they let "get away".

Today, Big Sky real estate is presenting buyers again with opportunities: smart buyers are finding value in properties throughout the area with a broad selection of inventory, favorable interest rates and a unique local market. Qualified buyers are poised to take advantage of the limited number of well-priced properties. Multiple offers are appearing once again in our market on properties priced to move.

Is this "the Bottom"? Timing the bottom of the ski hill at the end of your run is easy enough. Timing the bottom of the real estate or stock market is not so simple. Typically, the trough is obvious after the fact, once the market is up ticking and prices are increasing. Waiting for the market to adjust may bring increased prices and more competition for fewer properties.

What will interest rates do? The future value of interest rates is difficult to predict. What is certain is that low interest rates are available now to provide buyers with favorable options.

Inventory surplus Inventory of single-family homes and vacant land in Big Sky/Gallatin Canyon is at an all time high. The number of condo/townhomes that are currently on the market is trending down for the first quarter of 2009 relative to past years. The decrease in number of buyers is leading to an extensive selection of properties that remain as unsold inventory (pushing market absorption rates to all time highs). The lower number of potential buyers actively pursuing properties right now has significantly shifted the market in the favor of buyers. Sellers need to be aware that if they want to sell their property in 2009, they will need to price it to stand out among the vast competition, most likely under current market value.

Market analysis: The overall dollar volume was down 67% to $11,895,000 and the number of transactions was down 34% to 21 sales, when compared to the first quarter of 2008. (According to a Jackson Hole report, their overall dollar volume was down 65% while the number of transactions was down 79% to 29 sales.) Meanwhile, the average sale price fell for the first time in 4 years and the median sale price is down for the second year in a row. As of May 2, there were 674 available properties in all of Big Sky.

Single-family home sales have dropped significantly, down 50%, while the average and median sale price decreased 55% and 61% respectively. The $1-$2 Million segment of the market currently has the most available inventory for single-family homes. As of May 2, 2009, 43 of the 136 single-family homes on the market were listed for under $1 million. The median list price of $1,595,000 displays the divide between current list price (Seller's expectations) and the first quarter sold median price of $728,000 or the current under contract median list price of $819,500 (Market reality). Another perspective to consider is that the buyers that purchased in the first quarter or 2009 sought well-priced homes (under $1 Million) that they saw value in purchasing.

Vacant land sales have been more consistent between the first quarter of 2008 and 2009. The sales volume for each quarter was 7 units with the median sale price decreasing by 14% in 2009. The average sale price dropped significantly (75%) due to a land sale in 2008 for $7,000,000.

Condo/townhouse sales were down 43% with only 8 sales in the first quarter of 2009, average sale price was up 13% while the median sale price dropped 17%. Meanwhile, current inventory offers buyers 258 individual units for sale. Condominiums may face stricter financing guidelines as lenders redefine second-home properties and investment properties to limit their risks.

What does the future hold? Our office and agents are staying in the business. Although the downturn has affected the Big Sky market, we have weathered past recessions and fluctuations in buyer confidence. We are committed to helping you make the best of what Big Sky has to offer: investing in a lifestyle for the long-term.

www.ERABigSky.com

36 Center Lane
Meadow Village Center

Arrowhead Mall

PO Box 160699
Big Sky, MT 59716
406-995-3444
888-996-3444
bigskyinfo@eralandmark.com

By GAIL SCHONTZLER Chronicle Staff Writer

Like a parting gift to Bozeman High School's retiring principal, Newsweek magazine this week again named the school to its Top U.S. High Schools list.

The 2009 list rates 1,500 U.S. high schools as being the nation's top 6 percent, based on having a large number of students taking college-level Advanced Placement tests.

Bozeman High this year ranked No. 585 on the magazine's "challenge index" with a score of 2.007, which means that the school had twice as many students of all grade levels taking AP tests as it had graduating seniors.

The list also showed that 52 percent of Bozeman's graduating seniors took and passed at least one AP test. The national average was 15 percent.

No other Montana high school made the list, according to the magazine's online Web site.

Bozeman Schools Superintendent Kirk Miller noted the award Wednesday during the school district's final assembly to honor retiring and departing staff members. Bozeman High Principal Godfrey Saunders is retiring after 12 years.

Miller said Bozeman High is "clearly ahead of other high schools in Montana and the region." He said it demonstrated Saunders' leadership, vision and values.

Bozeman High also made Newsweek's list in 2003, when it ranked 460 out of 804 schools. In 2008, the school was ranked 621 out of 1,300 schools.

Read more.

In recent weeks, Ted and Heather Fust have been driving around the Bozeman area, looking at the houses for sale.

NICK WOLCOTT/CHRONICLE Chris Omland inspects a Bozeman home while shopping for a house Friday. Some new statistics indicate a possible brighter future for Bozeman's housing market. But they haven't actually gone inside any yet.

"Financially, we're not quite ready," Heather said.

The Fusts, a couple in their early 30s, want to take advantage of declining home prices and low mortgage rates. But before they buy anything, they want to build their down payment and make sure that they wind up with a mortgage they could pay with just one income, should one of them lose their job.

"We've been watching the market for the last two years - since we moved here," Heather said. "The market now kind of helps us."

Just a few months ago, the housing market in the Gallatin Valley was pretty bleak. But Realtors say buyers who had been sitting on the sidelines are starting to look and homes that are priced right are sometimes getting multiple offers.

"Things are coming around," said Paul Dueringer, real estate broker at Prudential Montana Real Estate in Bozeman.

It's still slow, though. So far this year, 101 single-family homes in the Bozeman area have sold, compared to 502 in all of 2008 and a peak of 816 in 2005, according to the Gallatin Association of Realtors' Multiple Listing Service.

"What's selling are the properties between $200,000 and $250,000," Dueringer said. "That's where the deals are right now."

The lowest sales price in Bozeman so far this year was $186,000.

Only six of the 101 homes sold since New Year's Day were over $400,000.

Who's buying?

The deals going through are primarily local buyers buying local properties, said Robyn Erlenbush, broker-owner of ERA Landmark Real Estate.

The falling price of homes in the Bozeman area has helped bring in the buyers. The median price of a home here fell 18 percent, from a peak of $341,851 in 2006 to $280,000.

People who otherwise might have bought a house in Belgrade and commuted to Bozeman for work or school are choosing to buy in town now that it's becoming more affordable, Erlenbush said.

In fact, first-time homebuyers make up a large part of today's buyers.

Read more here.