July 2023

MADISON VALLEY JULY “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? → Everyone says this year’s Rodeo Parade on July 4^th was THE BIGGEST EVER!   Some say there were 30,000 people on Main Street Ennis!  I don’t know how they can count them, but it sure felt like it!  So, on the 3^rd, there was a Car Show and a   → On the 4^th, there was THE  Parade; then the Ceremony at the Veterans Memorial; lunch at the Lions Club BBQ in the Park; then, the free Air Show at the Ennis “Big Sky” Airport; then another Rodeo; then the big fireworks display in Virginia City at dusk!  → The 24^th annual Wildflower Tour of Gravelly Mountain Range was led by the Madison Ranger District on the 6th.  →  There was a Vigilante Car Show in VC on the 8th. → The Jack Creek Preserve held a Wildflower Stroll on the 8^th and a Plant ID & Foraging Walk on the 13^th.  →  There was a Brew Fest in Virginia City on the 15^th.  →  There was a Celebration of the Bozeman Trail on the 22^nd in Virginia City, where the most famous wagon trail ended. → The 27^th Annual Madison Valley Arts Festival was held on the 29^th.  → There was Music in the Park in Ennis, on Thursday evenings. → The Ennis Library held their Big Summer Book Sale on the 29^th. → And Virginia City celebrated Christmas in July from the 23^rd – the 30^th, with decorations and events. → The Virginia City Playhouse presented their 75^th season of plays and vaudeville. → The colorful Brewery Follies in VC continued their performances. → The Madison Meadows Golf Course hosted Childrens’ Golf & Tennis Camps in July. → The Ennis Pickleball Club plans to build 5 permanent courts in the Lions Club Park!  They plan to make Ennis a Pickleball destination! →  Ennis, and the surrounding areas were open and busy!  

MADISON VALLEY AUGUST “HAPPENINGS” → Check out the Montana Mardi Gras in Virginia City, on the 5^th, 1 – 8 PM. → The annual Noxious Weed Fund Raiser will be held at the Meadow Creek Equestrian Center on the 5^th. Call (406 682-3259 for tickets. → Take a day to attend the Madison County Fair and Rodeo, the 9^th – the 13^th, in Twin Bridges.  → There will be a Virginia City Art Show from the 11^th – 13^th.  →  The Elling House will host a Cowboy Poetry – &  Open Mike night on the 16^th →  Come out and watch the 10^th Annual Montana Ride to Remember, on the 19^th, with hundreds of motorcycles, riding from Helena, down the US 287 Memorial Highway, through Ennis.  https://www.facebook.com/MTRideToRemember/.  → The Jack Creek Preserve will host Stargazing at the Preserve on the 19^th & 20^th.  jackcreekpreserve.org/events/.  → The annual Fly Fishing & Outdoor Festival will be held in Peter T’s Park on the 26^th & 27^th.   https://www.ennischamber.com/fly-fishing-and-outdoor-festival/.  → A Virginia City Art Show, Aug 11^th – 13^th. → Music in the Park Summer Series in Peter T’s Park continues on Thursday evenings from 5 – 6:30 through the 17^th.  → The Grand Victorian Ball will be held on the 19^th. →  Virginia City will host a Gold Rush 5K on the 26^th. → And, you can still go fishing, boating, golfing, hiking, trail riding, bowling, do yoga & exercise classes, have a facial and a massage, play Pickleball, Mahjongg, or eat, drink, stroll through Ennis, take in a movie, and go shopping!  Just do it all!

MADISON VALLEY FUTURE “HAPPENINGS” → Labor Day Poker Ride from the Bale of Hay Saloon in VC, on Sept. 2. → A Golden Gavel Grinder and Bike Fest in VC on Sept. 23^rd. → Cowboy Poetry at the Elling House in VC on Sept. 9^th. → The very popular Hunters’ Feed in Ennis, October 20^th .  → The Virginia City Playhouse and the Brewery Follies will be performing through Labor Day.  → This year will be the 160^th anniversary of Virginia City and they will be celebrating all year!  https://virginiacity.com/events/,  and  https://virginiacity.com/history.  →  The Jack Creek Preserve Foundation is raffling off access for an archery elk hunt for the 2024 season!  Only 250 tickets will be sold at $50 each, giving you excellent odds of winning access to the private 4500-acre property + other big-ticket items.  Drawing will take place when all tickets are sold or on the evening of Oct. 20^th.   → The annual Spirit of Christmas Stroll in Ennis, Dec. 8^th.  → https://www.ennischamber.com.

MONTANA NEWS → As part of the department’s response to declining trout populations in the Jefferson Basin, Montana fish, Wildlife & Parks has launched a new web portal to collect information from members of the public who see sick or dead fish.  The new portal, https://fwp.mt.gov/sickfish,  enables Montanans and visitors to our state to report a description of sick or dead fish, including details on the location.  Participants are encouraged to upload a photo to assist FWP biologists.  Though FWP is interested in this information statewide, the department is particularly interested in reports from SW MT, where trout numbers on the Big Hole, Beaverhead, and Ruby rivers have declined dramatically during the past 10 years. → Due to the heat, Hoot-Owl restrictions are in place, banning fishing between 2 PM and midnight, on the Lower Madison, from Warm springs boat Launch to the Jefferson River.  For the latest closures, see: https://fwp.mt.gov/news/current-closures-restrictions/waterbody-closures.

FISHING REPORT → From Big John. Forget everything you think you know or experienced about August.  This one is going to be different.  The never-ending winter we had is still making itself known.  The river levels are at all-time highs for this time of year.  The green tint to the grass that is usually gone by the 4^th of July is still hanging in there and a week of only high 70’s is headed our way.  If you fly fish the Madison River, this is going to be an August to remember.

Currently, the river flow is 1320 CFS at Kirby and 1490 CFS at Varney Bridge.  At the same time last year, it was a third less.  All this water makes fish happy.  The dry fly bite is still strong, and we are looking forward to the terrestrial season getting in high gear.  Remember the ant catches more fish than the hopper any day of the week.   Fish like ants and see them in the soup all year long. Fish the ant, catch the fish.

May flies and caddis are still in the soup and are the real contenders to start the month.  Size down to a 16 on 4X tippet and you will be rewarded.   When will the hoppers show up?  Good question with no real answer.  Fish them now and you will get a few but it should only get better.  Also remember the nocturnal stone flies.  If you look along the bank you will find the shucks, and the fish have taken notice.  Think small chubbies.  We like pink.  Why pink?   Who knows, but the fish like it, so we do too.

If you want to throw a nymph rig, you are sure to hook up.  Sometimes, there are 3 whitefish to every trout.  Who cares, when the rod is bent.  Remember to take care of the fish.  With warmer water the fish are more susceptible to stress.  Keep them wet, get the hook out quick and send them back home.  No fish-out-of-water photos during the heat.  Social media will survive without seeing every 15-inch rainbow you catch.  Trust me on this.

Streamers are getting a few really big fish right now.  Some days they like it, some days they swim away from it.  But if you are looking for brother two-foot, stay with the meat and you will be rewarded.  We like sculpins and whitefish minnow-looking stuff.  Remember the whitefish spawned in November so the young of the year are out 3 inches long and are in every back eddy.  If one gets swept out into the flow, they are food for the hungry trout.  Big fish eat little fish.  Nature at its finest.

Lots of stuff to be excited about this August.  We will of course have our big sale later in the month.  A great time to save 30% on the gear you have been lusting over all summer.  Check out the fly shop or on-line for the latest deals.  Better yet, stop by and chat.  We are good at conversation and will give you all the insight to make your day successful.  If you’re in Montana this August, get fishing. Good Fishing and God Bless,  John Way.  http://www.thetackleshop.com)  Ennis, Montana, the CULTURAL EPICENTER OF TROUT.  (406) 682-4263, or cell: (406) 370-5206.

If people concentrated on the REALLY important things in life,   there would be a shortage of fishing poles!

Check out other fishing reports at:

• Madison River Fishing Company at: https://www.mrfc.com/
• Dan Delekta at: https://www.beartoothflyfishing.com/
• The Madison Valley Ranch at: https://www.madisonvalleyranch.com/
• Joe Dilschneider’s Montana Trout Stalkers at http://www.montanatrout.com/
• Yellowstone Fly Fishing at http://www.yellowstoneflyfishing.com/madisonreport.htm.

WEATHER → The rain stopped, and July has been hot and dry. But the valley is still pretty green and there are no fires in this area.  The daytime high in July was 94°.   The daytime low was 71°.  The nighttime high was 63° with a nighttime low of 41°!  Thank goodness, it cools off at night!    There were one thousand lightening strikes in the county in just one week in July!                 Sphinx Mountain in July→

REAL ESTATE TIPS.  NEW HOMEOWNER TIPS YOU NEED TO KNOW ASAP.  Whether it is your first or tenth home, there are things to learn or to remember, about homeownership, such as:

1. Protect your deed and other important documents relating to your purchase.  Place them in a bank safe deposit box or fireproof box at home.
2. Create a Homeowner’s Binder to store all of the manuals, guides and warranties for your appliances and systems.  Keep it current, so when you sell, it is ready for the new owners!
3. Set up a file for Home Improvement Expenses.  You will want to hang on to all of these for tax purposes and when you go to sell.
4. Set up a binder or file for collecting contact information on reliable, area contractors.
5. Complete small projects, such as painting or removing carpet, before moving into your new home, if possible.
6. Wait to start any large projects.  Home improvements are expensive so unless your new home is not livable, hold off on any major construction projects until you’ve lived in the home for at least six months.  You might change your mind.  Put your priorities in order.  Waiting will also give you time to save for the cost of any upcoming projects.
7. Complete one project at a time. You may be tempted to get all of your improvements finished as soon as possible.  But, not only will you exhaust your finances, but you will also make your new home unlivable and add unnecessary stress to your everyday life.
8. Learn how to identify potential issues in your new home, before they become huge, expensive issues.  Assuming you had a professional home inspection prior to purchasing, you can use that report as your To-do list.  But also learn how to recognize signs of problems, such as a roof leak, foundation issues, and basement leaks and flooding.
9. Start an Emergency House Fund.  You never know when something is going to go wrong, or how much it is going to cost.  Start an emergency savings account as soon as possible.  The longer you live in your home, the more likely you are to experience a surprise plumbing, heating or roofing issue.
10. Make friends with your neighbors right away by introducing yourself and making friends as soon as you move in.  Building a relationship with your neighbors could help you avoid problems in the future. Neighbors can be a great source of information and assistance in case of emergencies. Neighbors help each other out.
11. Know how to shut everything down – how to turn off your water valve, shut off your power and gas lines.  Save yourself time and stress during an emergency.
12. If you have a furnace, change your air filter regularly.  Change it as soon as you move in and mark your calendar to change it every 60 to 90 days.  Changing your air filter not only helps keep your air clean, it also reduces dust and extends the life of your furnace.

HOME FOR YOUR SOUL → FEATURED PROPERTY OF THE MONTH. PREMIER VIEW HOME ON 20 ACRES.  Live the Montana dream with this property – 360° views, wide open spaces, beautiful low-maintenance home, with Madison River access for great fishing!  Centrally located in the middle of the Madison Valley, puts you close to great hunting, fishing, boating, hiking, trail riding, snowmobiling, 4-wheeling, and just getting away from it all!  Less than 2 hours north to Bozeman or Yellowstone Nat. Park to the south, and 20 minutes from Ennis, the most charming little cowboy town you could find!  50 Bowman Lane S, Cameron MT 59720, Sphinx Mountain Subdivision, Lot 19.  $899,000.  MLS # 384486.

REAL ESTATE NEWS – WASHINGTON (July 27, 2023) – Pending home sales registered a modest increase of 0.3% in June from the previous month – the first increase since February – according to the National Assoc. of REALTORS®. The South and West posted monthly losses, while sales in the Northeast and Midwest grew. All four U.S. regions saw year-over-year declines in transactions. “The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun, “The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Homebuilders are ramping up production and hiring workers.”  The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose 0.3% to 76.8 in June. Year over year, pending transactions fell by 15.6%. An index of 100 is equal to the level of contract activity in 2001.

NAR forecasts that the 30-year fixed mortgage rate will hit 6.4% this year and then decline to 6.0% in 2024, while the unemployment rate will rise slightly to 3.7% in 2023 before increasing to 4.1% in 2024.  “With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. “Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.”

NAR expects existing-home sales to decrease 12.9% from 2022 to 2023, settling at 4.38 million, before climbing 15.5%, to 5.06 million in 2024. Compared to last year, national median existing-home prices will remain steady – declining 0.4%, to $384,900, before rebounding by 2.6% next year, to $395,000. The West – the country’s most expensive region – will see reduced prices while the more affordable Midwest region is likely to see a small, positive increase. Housing starts will drop 5.3% from 2022 to 2023, to 1.47 million, before increasing to 1.55 million, or 5.4%, in 2024.

“It is critical to expand supply as much as possible to widen access to homebuying for more Americans,” Yun said. “Home prices will be influenced by how much inventory is brought to market. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.”  Newly constructed home sales will increase from last year by 12.3% in 2023, to 720,000 – due to additional inventory in this segment of the market – and increase by another 13.9% in 2024, to 820,000. The national median new home price will decrease by 1.9% this year, to $449,100, and then improve by 4.2% next year, to $468,000.

Pending Home Sales Regional Breakdown – The Northeast PHSI ascended 0.6% from last month to 67.1, a decrease of 16.7% from June 2022. The Midwest index jumped 4.3% to 77.6 in June, down 17.1% from one year ago.  The South PHSI receded 1.4% to 93.3 in June, lessening 14.3% from the prior year. The West index fell 1.0% in June to 57.7, dipping 15.5% from June 2022.

The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.

LOCAL REAL ESTATE MARKET STATISTICS: New listings for the Madison Valley are still showing up on MLS, most every day.  There are more price reductions on land and residential properties.  But there seems to be a lull, as buyers wait for the right property, at the right price.  Big Sky Country Multiple Listing statistics for the Madison Valley area (including Ennis, Cameron, McAllister, Norris, Virginia City, Nevada City, Harrison, Pony), for the month of JULY were as follows:   

• HOMES: 63↑ homes listed ($349,000 to $11,250,000); 14↑ pending sales ($449,000 to $2,500,000); and 26 homes have sold in 2023 ($305,000 to $3,700,000), totaling $22,745,334 at 8%↓ of list prices.
• LAND: 101↑ vacant lots listed ($8,497 to $2,250,000); 21↑ pending sales ($75,000 to $595,000); and 39  lots have sold in 2023 ($10,000 to $925,000), totaling $9,994,897 at 2%↑ of list prices.
• COMMERCIAL: 4 commercial properties listed ($365,000 to $2,950,000); 0 pending sales; and 4 commercial properties have sold in 2023 ($85,000 to $2,250,000), totaling $4,835,000, at 5%↑ of list prices.
• RANCHES: 5 ranches listed ($960,000 to $9,500,000); 1 pending sale ($6,999,999), and 0 ranches sold in 2023.

“The best investment on Earth is earth.” Louis J. Glickman, real estate mogul/philanthropist

Also, according to Jordan Davis & Luke Bryan, in their hit song, “Buy Dirt!”

MONTANA TRIVIA… Did you know that….The old Bozeman Trail cut through the Madison Valley on its route to Virginia City? The Bozeman Trail was an overland route in the Western United States, connecting the gold rush territory of southern Montana to the Oregon Trail in eastern Wyoming.  Its most important period was from 1863–1868.  While the route was in use, most of the trail crossed the 1851 Crow Indian treaty guaranteed territory west of Powder River.  Today, the Bozeman Trail corridor is still a major north-south travel route, with an interstate highway replacing the wagon and horseback trails. Those who travel the trail can still see the grand, surrounding country and imagine how lush, pristine, and full of promise the environment must have appeared to travelers who saw a new horizon on each day of their journey.  Many miles of the Bozeman Trail, in present Montana, followed the tracks of the Bridger Trail, opened by Jim Bridger in 1864, from Bozeman, along Montana State Highway 84, to US Highway 287 to Ennis, then Montana State Highway 287 on to Virginia City. https://www.wyohistory.org/encyclopedia/brief-history-bozeman-trail; https://en.wikipedia.org/wiki/Bozeman_Trail.