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Category: Real Estate News

Anthony Bourdain’s “No Reservations” comes to Livingston

Posted August 25, 2009

By Anthony Bourdain on August 22, 2009 1:03 PM

……..

The Lonely Planet Guide, discussing what happens if you are lost on a trail in the Darien bluntly describes you as “a goner.”  But on a wing and a prayer, brave Diane ventured out into the wild, hoping to find the spot and call New York so that at least by the time we got back to Panama City, somebody would be on the way with replacement cameras. The outcome of this foolhardy mission was uncertain at best. The return, against the current, difficult. This after having just returned from humping a pack up and down mountains and across slimy log bridges for four hours. But off she went.
When I look back on my life and career from some sputum stained hospital bed or while waiting for them to pry me from the wreckage of a car …or in the final seconds of consciousness after I slump to the ground while waiting on line for my fruit cup at Century Village, I’ll look back on the Montana show with no small amount of pride. I will smile and be proud that I had the honor, the privilege, the sheer joy of having Jim Harrison on NO RESERVATIONS. Jim is one of America’s greatest authors, poets, screenwriters—a gourmand of legendary reputation and a personality so big it’s barely contained by the landscape. I’ll be grateful that a painting by the awesome Russell Chatham now hangs on my wall. That fishing guide, wilderness cook, jack-of-all trades Dan Lahren showed me around. And that I got to spend many happy hours drinking at one of the world’s finest saloons, The Murray Bar.
Turns out they eat real well in Livingston, Montana, one of the world’s truly great towns in one of its most beautiful places. Seems like everybody’s got a freezer full of antelope liver. Livingston’s 2nd Street Bistro serves a meal on a par with any great city—often with better ingredients—and you’re just as likely to see a cowboy foraging for fresh morels as an ex-hippie in a pick-up with a gun rack.
When you see idiots on TV talking about the “real America,” they’re both talking about the Paradise Valley—and not understanding it at all. Livingston confounds any attempt to stereotype the West.

Pine Beetle Threat Grows in West

Posted August 24, 2009

It’s a serious issue that’s plaguing  our forests.  Pine beetles.  Whether they are nature taking its course, or a real threat to our livelihood, they’re here are don’t seem to be leaving….  read more….
By Karl Puckett, USA TODAY
Amy Gannon, hatchet in hand, sliced a slab of bark from a lodgepole pine tree near Wolf Creek, Mont., and quickly spotted a mountain pine beetle larvae no bigger than her pinky fingernail.

“This tree’s done for,” said Gannon, an entomologist with the Montana Department of Natural Resources and Conservation.

As wildfires roar through tinder-dry forests in California, the mountain pine beetle is silently killing even more trees — hundreds of thousands of acres of towering trees, mostly lodgepole pine, according to Robert Mangold, director of Forest Health Protection for the U.S. Forest Service.

An epidemic of this magnitude hasn’t been seen in the Mountain West in 25 years, he said.

In 2007, the beetles were blamed for killing 3.9 million acres of trees in Colorado, Montana, Wyoming, Oregon, Idaho, Utah and Washington, Mangold said.

By comparison, the fires in California had burned 640,847 acres as of July 14 this year, according to the National Interagency Fire Center. An average of 3.4 million acres has burned nationally each year since 2003, according to the center.

The current pine beetle infestation is the worst since 1981, when 4.7 million acres of trees were infected, Mangold said. He blames the outbreak on a perfect storm of drought, large stands of old trees and, possibly, warmer temperatures because of climate change.

“It’s shocking,” said Jeff Witcosky, an entomologist for the U.S. Forest Service in Lakewood, Colo. “We talk about the grieving process.”

While the impact has been enormous, Mangold said, the mountain pine beetle is a native insect that, along with fire, does play a role in the regeneration of lodgepole pines.

The pines have a hard cone that won’t open without a hot fire, he said. When the cones open, they dump out seed, creating a thick forest of trees of the same age. When the trees hit 80 to 90 years old, they weaken and become susceptible to the mountain pine beetle. The beetles kill the trees, creating more dry fuel for those fires, he said.

This month, the adult beetles are emerging from trees and looking for hosts they can bore into to mate and lay eggs, Gannon said. The beetles feed on the inner bark, severing the tree’s circulation, she said.

The large number of affected acres is increasing the risk of large fires as the Northern Rockies enters the fire season, said George Weldon, deputy director of fire, aviation and air for the U.S. Forest Service’s Northern Region.

“When there’s red needles on the trees, those trees are a lot more flammable,” he said.

After the needles fall off, the fire risk is reduced, but if the dead trees are not harvested, they create even more fuel for fires, he said.

Signs of bigger problems

The Northern Region of the Forest Service is spending $15 million a year to reduce hazardous fuels around communities, including trees felled by the beetle, Weldon said. The region is made up of Montana, northern Idaho and North Dakota.

Jesse Logan, a forest ecologist in Emigrant, Mont., sees evidence of a bigger problem in the beetle infestation than fire: global warming.

“This is one of the canary-in-the-coal-mine warning signs,” he said.

The beetles are now moving into higher elevations, where bitter winter temperatures used to keep them at bay, Logan said.

Once there, the bugs are attacking species besides lodgepole with new vigor, such as whitebark pines around Yellowstone National Park and the jack pine in British Columbia, Canada, he said.

“It’s like a new invasive species,” Logan said

The whitebark pine produces seeds that are a critical staple in the diet of grizzly bears, Logan said. Fewer pines of all kinds also means less shade cover for cool-water mountain streams where trout thrive, he said.

The trees also hold snow in place, slowing mountain run-off so water is available for irrigation deeper into the summer.

Mangold agrees warming temperatures are playing a role in the current outbreak.

“But the forests are in a state where we’d have this kind of epidemic probably with or without these temperatures,” he said.

Gordy Sanders, resource manager for Pyramid Mountain Lumber in Seeley Lake, Mont., which produces boards from logs, said the infestation is “devastating the countryside.” Anyone who owns standing timber is losing aesthetic land value, he said.

Slowing the spread

To ward off the pests, chemicals that mimic those produced by the beetles, causing them to pass the trees because they sense they are full of other beetles, are sometimes applied to high-value trees around campgrounds and homes, but the treatments are expensive, said Ken Gibson, an entomologist with the U.S. Forest Service in Missoula, Mont.

Forestry practices, such as thinning thick stands of pure species of trees, can also slow the spread, he said.

“We don’t have to sit around and watch trees die,” he said.

Real Estate Outlook: Price and Sale Gains

Posted August 18, 2009

by Kenneth R. Harney – Tue, Aug 18, 2009

Sales of existing homes and condos continue to power the real estate market, in some areas they’re up by double digits, and despite all the negative headlines about foreclosures, even prices are rising in many places as well.

Sales in the second quarter ending June 30 jumped by nearly 4 percent countrywide, according to the National Association of Realtors. Second quarter sales in 39 states were higher than the first quarter, as they were in 129 out of the 155 largest markets.

New York saw an impressive 22 percent increase for the quarter, as did Wisconsin. California, Michigan and Minnesota all registered double-digit sales gains compared with the second quarter of 2008.

Prices were still flat or down in markets where large percentages of sales are bank-owned REO. But in relatively healthy metro areas like Beaumont and Port Arthur, Texas, they were up significantly, by 11 percent over the second quarter of 2008.

In the Denver area during June, home prices were 6 percent higher than May, and resales increased by an eye-popping 32 percent, according to MDA DataQuick researchers.

Several of the national home price indexes also continue to point to more than a mere bottoming out — they’re documenting real turnarounds in key areas. The IAS 360 index reported a 1.2 percent average increase in its thousands of data-gathering submarkets and neighborhoods for June.

Average prices in Boston gained 2.9 percent for the month, according to IAS. In Chicago they were up 1.3 percent, Los Angeles 2.2 percent, San Francisco 1.7 percent, and San Diego 1.4 percent.

Meanwhile, mortgages continued their modest but steady gains, with new loan applications to buy houses up last week by about one percent over the previous week, according to the Mortgage Bankers Association.

Rates jumped slightly, however, with 30 year fixed conventional loans going for an average 5.4 percent, and fifteen year rates at 4.7 percent.

Conditions in the overall economy were more mixed than in the housing arena, but the big picture still has most economists, and even the Federal Reserve, encouraged that the recession will be over this year.

Fewer jobs were lost last month than expected and unemployment fell to 9.4 percent. But let’s face it: losing a quarter of a million jobs in the span of a month is still a serious drag on the economy – and is certainly no plus for housing.

On the other hand, is there anybody out there who wants to trade today’s mixed outlook with last fall’s horror show scenario, when we were all tottering on the edge of a global financial disaster?

No Recess for Housing

Posted August 17, 2009

by Kenneth R. Harney – Mon, Aug 17, 2009

The House and Senate may have left Capitol Hill for their August break, but housing lobbyists are busy at work gearing up a major campaign to extend the $8,000 home buyer tax credit.

The credit for first-time purchasers is scheduled to expire November 30.

The National Association of Home Builders and the National Association of Realtors want to persuade Congress to nail down an extension of the credit, and maybe even broaden its coverage, as soon as possible.

The home builders are mounting an aggressive campaign during the congressional recess. The association is sending out local teams of members to meet with congressmen and senators in their home districts, urging not only a one year extension of the credit, but an expansion of the concept to cover all home buyers next year, not just first-timers.

Though the endorsement may, or may not, have been connected with the home builders’ campaign, one of the most politically powerful Democrats has already signaled that he favors a one year extension.

Senate Majority Leader Harry Reid of Nevada, said he thinks “it’s something we can get done.” According to a report in the Las Vegas Sun, Reid made the comment last week during a conference call with Nevada reporters.

Meanwhile, the influential chairman of the Senate banking committee, Connecticut Democrat Chris Dodd, has teamed up with Georgia Republican Senator Johnny Isakson to sponsor a bill that would extend the credit for another year and expand it to a $15,000 maximum.

In the House, two bills have been introduced to extend and expand the credit for either six months or 12 months. The National Association of Realtors is strongly supporting the extension efforts, and is sending its own delegations to lobby key members of the House Ways and Means committee and the Senate Finance committee.

So with all this going on, is it a sure thing that the tax credit will be available in some form for home buyers next year? Should consumers who can’t quite make the November 30 deadline breathe easier?

Absolutely not. There is no sure thing on Capitol Hill whenever legislation looks like it’s got a clear path to passage. That’s when opponents hijack the bill or filibuster it in the Senate.

Nonetheless, extension of the credit looks like it has growing bipartisan support. Mary Trupo, legislative spokesperson for the National Association of Realtors, told Realty Times last week that “we feel Congress is receptive” to the message that the housing tax credit helps create jobs, and stimulates the economy.

But nobody should assume it’s a done deal, until it is. Today’s Local Market Conditions Report

Home prices rise across America

Posted August 10, 2009

Home Prices Rise Across U.S.

Bargain Hunting, Low Rates Drive First Gain in 3 Years; Double Dip Still Possible

BY NICK TIMIRAOS AND KELLY EVANS

Home prices in major U.S. cities registered the first monthly gain in nearly three years, according to a new report that provided fresh evidence that the severe U.S. housing downturn could be easing.

Standard & Poor’s Case-Shiller index, which tracks home prices in 20 metropolitan areas, rose 0.5% for the three-month period ending in May, compared with the three months ending in April. It marked the index’s first increase after 34 straight months of decline, and came after a variety of housing indicators has shown glimmers of hope for the past several months.

Bozeman ranks #8 in U.S. housing market

Posted March 16, 2009

Top 25 Forecast Housing Markets

Two states with reputations for being some of the coldest places in the country dominate the Housing Predictor Top 25 housing markets for 2009. Montana placed all of its five forecast markets on the list, and neighboring North Dakota had 4 markets make the top 25 forecast to have the highest appreciation in home values during the year.

The Housing Predictor Top 25 Markets are selected from the more than 250 local housing markets forecast, and are projected to have the best probability of hitting their forecast appreciation. Eleven markets are forecast to experience some level of appreciation in 2009, making the top 25 markets. Fourteen other markets round out the Top 25 forecast to experience lower deflation than the majority of the country.

Bloomington, Illinois grabbed the #1 position forecast to appreciate 2.3% in average home values in 2009. Bloomington is the home to Illinois State University and the home offices of State Farm Insurance. Homes are taking longer to sell these days in Bloomington, but the market should remain as one of the nation’s exceptions with appreciation in 2009.

With one of the strongest job markets in the country Billings, Montana placed second on the list followed by Fargo, North Dakota.

They’ve dodged the bullet in the nation’s housing depression in North Dakota and Montana. During the boom mortgage companies didn’t offer creative new loan programs in either state much, which has acted to protect their housing markets from major deflationary cycles experienced in the majority of the country.

Top 25 US Appreciating Real Estate Markets
Rank Real Estate Market 2009 Forecast
1. Bloomington, IL 2.3%
2. Billings, MT 2.1%
3. Fargo, ND 1.8%
4. Lander, WY 1.7%
5. Trenton, NJ 1.6%
6. Morgantown, WV 1.6%
7. Logan, UT 1.4%
8. Bozeman, MT 1.3%
9. Albany, GA 1.2%
10. Fairmont, WV 1.2%
11. Minot, ND 1.0%
12. Great Falls, MT −0.9%
13. Livingston, MT −0.8%
14. Bismarck, ND −0.8%
15. Missoula, MT −0.8%
16. Grand Forks, ND −1.1%
17. Paducah, KY −1.2%
18. Piedmont, SD −1.5%
19. Lawton, OK −2.1%
20. Black Hills, SD −2.1%
21. Edmond, OK −2.8%
22. Mobile, AL −2.8%
23. Oklahoma City, OK −2.9%
24. Lincoln, NE −3.0%
25. Amarillo, TX −3.9%
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