Crow Hollow Ranch is situated in Montana’s legendary Paradise Valley. This majestic property which was once inhabited by the Crow Indians encompasses a diverse topography with 198 +/- deeded acres, over a half mile of Suce Creek, a beautifully designed period-style farm house, historic caretaker’s home, and log cabin…all tucked privately into a dramatic valley with National Forest, and BLM lands surrounding the ranch. List Price $3.6 Million
Market Update/Recently Sold
MARKET UPDATE
The real estate market in Montana continues to improve, but is not back to the robust environment prior to the national banking crisis of 2008. Housing under $200,000 accounted for much of the market activity across the country, with Park County paralleling this trend.
Montana is also seeing an increased number of buyers seeking investment in ranch and recreational properties as an alternative to market driven investments.
RMP had a busy year brokering everything from iconic local businesses to beautiful mountain acreages, ranches, and riverfront homes…
RMP’s MOST RECENTLY CLOSED SALE:
BANGTAIL RANCH
Bridger Canyon/Bozeman
SOLD – Listed at $4.5 Million
260 Acres with hay pasture, spring creek, shop and reclaimed timber home providing access to hundreds of miles of hiking, biking and skiing trails. Abundant wildlife, 360 degree views and minutes to Bridger Bowl Ski area & Downtown Bozeman.
Buyer represented by Tracy Raich, RMP/Seller represented by B Elfland, Fay Ranches
Raich Montana Properties LLC Listed in the “2011 America’s Best Brokerages” issue of The Land Report
This publication is known as “The Magazine of the American Landowner”. In this issue leading land brokerages in the US are listed by region. Raich Montana Properties LLC is listed under brokerages in the West (page 49). Each real estate firm is required to provide a compilation of transactions for the year, and share the firm’s business philosophy and provide market insights.
Here’s a recap of the magazine listing for Raich Montana Properties LLC:
Who: Raich deals in ranches and recreational properties in Livingston Montana’s Paradise Valley.
Philosophy: As a one-person firm, her focus is on personal attention for each client instead of handling a large volume of transactions.
Raich’s Market Insight: Raich enjoyed a steady business during the year. She predicts there will be continued investment in this market which may result in a depletion of inventory leaving a scarcity of truly amazing ranch and recreational properties in Livingston’s Paradise Valley.
2011 Sales: <$50 Million Category, with transactions totalling $17.1 Million in 2011 (The Land Report’s computation method).
Housing Market Update Reads Positive
by Kenneth R. Harney – Tue, Sep 1, 2009
Name just about any housing market or economic indicator you can think of, and the odds are good that last week it was much better than the preceding week or month.
Start with resales of existing homes. They were up by 7.2 percent in July over June, according to the National Association of Realtors. That was the fourth consecutive — and by far the largest — monthly increase so far this year.
And check out new home sales. They were up by nearly 10 percent in the latest report from the Commerce Department. The gain was the biggest monthly change in sales since February of 2005. It pushed inventories of unsold new houses to their lowest point in 16 years.
Consumer confidence also was sharply higher, according to the Conference Board’s widely watched index, up seven points in August over July. Lynn Franco, director of the Conference Board’s consumer research center, said “consumers (are) more upbeat in their short-term outlooks for both the economy (as a whole) and the job market.”
The latest Case-Shiller home price index even turned positive! Case-Shiller’s national composite was up 2.9 percent comparing the first quarter of 2009 with the second quarter. That was the first quarter to quarter price improvement in more than three years, and we all know how spooky and bearish Case-Shiller has been throughout the housing downcycle.
Fully 18 of the 20 major markets tracked by Case-Shiller were positive for the quarter, even though on a year-to-year comparison basis, prices in the second quarter of 2009 were still 15 percent below the second quarter of 2008.
Mortgage applications and interest rates continued to be favorable as well. Total applications jumped by seven and a half percent last week, according to the Mortgage Bankers Association.
Rates remained low and stable: 5.2 percent for 30 year fixed rate loans, and 4.6 percent for 15 year mortgages.
Equally significant, some prominent analysts are saying the recession either officially ended sometime during the month of August, or will do so shortly, maybe in September.
The Mortgage Bankers Association’s top forecaster, Orawin Velz, said the national gross domestic product or GDP likely will RISE in the third quarter — ringing down the curtain on the deepest recession in decades.
Now, does this all mean that happy days are here again and the housing market can only go up as the recession comes to an end? Not with unemployment still above 9 percent and three million foreclosures forecast for the year.
Look for a slow-mending recovery, but one that looks like it will be led by housing. Today’s Local Market Conditions Report
Existing-Home Sales Show Surprising Gain
Daily Real Estate News | January 27, 2009 |
Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units in December. The number compares to a downwardly revised pace of 4.45 million units in November, but 3.5 percent below the 4.91 million-unit pace in December 2007.
For all of 2008, there were about 4.9 million existing-home sales — 13.1 percent below the 5.65 million transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly.
“It appears some buyers are taking advantage of much lower home prices,” he said. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future.”
Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November.
Yun said the market is underperforming and hurting the broader economy.
“We’ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.”
Housing Stats
National median existing-home price: (for all housing types) was $175,400 in December, which is 15.3 percent below December 2007 when the median was $207,000. There remains a significant downward distortion in the current median from a large number of distress sales at discounted prices, currently 45 percent of transactions; the median is where half of the homes sold for more and half sold for less. For all of 2008, the median price was $198,600, down 9.3 percent from $219,000 in 2007.
Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November, but are 1.4 percent below a 4.32 million-unit pace in December 2007. For all of 2008, single-family sales fell 11.9 percent to 4,349,000.
Median existing single-family home price: dropped to $174,700 in December, down 14.8 percent from a year ago. For all of 2008, the single-family median was $197,100, which is 9.5 percent below 2007.
Existing condominium and co-op sales: increased 2.1 percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November, but are 18.4 percent below the 588,000-unit level a year ago. For all of 2008, condo sales dropped 21.0 percent to 563,000 units.
Median existing condo price: slipped to $181,400 in December, down 18.3 percent from December 2007. For all of 2008, the median condo price was $210,000, which is 7.2 percent below 2007.
Existing-Home Sales By Region
* Northeast: slipped 1.4 percent to an annual pace of 720,000 in December, and are 14.3 percent below December 2007. The median price in the Northeast was $235,000, which is 7.8 percent lower than a year ago.
* Midwest: increased 4.0 percent in December to a level of 1.04 million but are 10.3 percent below a year ago. The median price in the Midwest was $140,800, down 11.4 percent from December 2007.
* South: rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The median price in the South was $158,600, which is down 8 percent from a year ago.
* West: jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. The median price in the West was $213,100, down 31.5 percent from December 2007.
A Good Time to Buy
NAR President Charles McMillan said it’s an excellent time for first-time home buyers with good jobs.
“The typical buyer plans to stay in their home for 10 years, which is the correct approach in today’s market,” he said. “With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who’ve been on the fence should take a closer look at today’s market.”
McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5 percent on a safe 30-year fixed-rate mortgage.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29 percent in December from 6.09 percent in November; the rate was 6.10 percent in December 2007. Last week, Freddie Mac reported the 30-year rate was 5.12 percent.
Source: National Association of Realtors
