Ali Albayrak, Home Buyer in Charlotte, NC

How is the house and land market around Bozeman,Mt.?

Asked by Ali Albayrak, Charlotte, NC Fri Jul 11, 2008

mountain views to build up for our retirement.

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Arnie Kleins…, , Bozeman, MT
Wed Jul 30, 2008
I'm not sure where you pull your numbers but the average sale of homes in Bozeman is not $210,000. You could have said that a few years ago in Bozeman. While some builders are busy others are not in business because of this market. Don't try to make things sound like a piece of gold when simply it is not so.
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Arnie Kleins…, , Bozeman, MT
Wed Jul 30, 2008
Land is for sale everywhere in Bozeman right now. We have had so many subdivision get approved by the city and county in the last few years and now with the housing market the way it is a builder would be crazy to go out and build a bunch of spec houses which leaves the developer in a tight crunch.
Bozeman is once again to the point of where a first time home buyer can get into a decent house rather then what it was like a year or so ago. Sellers that have to sell are paying the price for so many years of huge appreciation.
Getting a loan for buyers is tough. It is really tough to qualify which is tough for the buyer and that all comes back to the seller who has to sell their house.
Kathleen, I'm sorry you feel that way about people in my profession. I can't comment on any other markets like Missoula and Billings so I think you have to take that into account when you read David's comment on our market. While Bozeman is growing the rapid growth that the Gallatin Valley endured over the previous years has our area going through some growing pains. Bozeman has seen a shift in the market from at least the beginning of 2007.
While we may have an abundance of lots the mountain views could still be pricy if you are looking for a great location, privacy, and views. It depends on the seller and how much they think the views are worth or how bad the seller needs to sell.
Kathleen wether you talk to REALTORS or Lenders it will depend on who you talk to. Some lenders or REALTORS may be in denial or giving you a sales pitch but I do know that are some who will be truthful.
I would say the best market right now is for investors in Bozeman. Some sellers are in a tight crunch and are paying the price. It is not rocket science when you look at the inventory or numbers which is all simple math.
Good luck..Hope this helps
1 vote
Kathleen, , Bozeman, MT
Fri Jul 18, 2008
The realtor answer is always going to be "Bozeman is increasing". Gimme a break. Look at some of the listing periods in Bozeman. You have two markets going on - the vacation home market courtesy of California folks. These homes can afford to sit on the market for over a year, or longer, at their inflated prices created a few years ago, and they don't HAVE to reduce their price because they can afford to wait until the market turns around - if it does in the next 5 years. These are not primary homes!

The other market in Bozeman are normal, everyday folks who are selling their primary homes and they're taking deep financial hits just because they HAVE to sell. Talk to real people who have their houses on the market and not the sales pitch of realtors. I'm so sick of realtors.

Better yet, talk to mortgage officers in the Bozeman area who are NOT approving sales of some homes OR accepting appraisal bids because they view them as in error! There is where you'll find truth!
1 vote
David Brewer…, Agent, Hamilton, OH
Fri Jul 11, 2008
Gallatin county is the fastest growing county in Montana, and Bozeman is a great community.

Prices vary depending on needs, but there is a wide variety of properties available to suit any buyer. The market has been doing well compared to the rest of the country and is one of the best markets in the state. Montana in general has not been as affected by the recent changes in the market, and properties values continue to increase.

Bozeman itself is a growing city (in Montana a city is 40,000), and average home sales are around $210K.

For retirement purposes there are several communities around Bozeman to consider such as: Belgrade, Three Forks, or Livingston.

Depending on your lifestyle you could always look around Gallatin Gateway, Ennis, and of course Big Sky.

Land is ripe for development, and lots of builders are working constantly, especially in Big Sky.

David Brewer
Prudential Montana
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