September 2023

MADISON VALLEY SEPTEMBER “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? → The annual Labor Day Poker Ride started at the Bale of Hay Saloon in Virginia City. → The Attaca Quartet, a two-time Grammy winner, performed a free concert in → There was Cowboy Poetry at the Elling House in VC. → The Virginia City Preservation Alliance arranged a Brewery Auto tour of Historic Sites. →  A Golden Gavel Grinder and Bike Fest was held in VC. → There were Art Walks and new dining options in Ennis.  → Fewer tourists and more parking spaces!

MADISON VALLEY OCTOBER “HAPPENINGS” → Head for the mountains and go Stargazing at the Preserve, for a “camp-out” Friday Oct 6, 5:00 PM – 11:30 AM on the 7^th. http://www.jackcreekpreserve.org/events/2023/stargazing. → The very popular Hunters’ Feed in Ennis will be held on Friday, October 20^th from 3-5. Come hungry! https://www.ennischamber.com/tap-into-ennis.  → The Jack Creek Preserve Foundation is again raffling off access for an archery elk hunt for the 2024 season!  Only 250 tickets were sold at $50 each, giving excellent odds of winning access to the private 4500-acre property + other big-ticket items.  Drawing will take place on the evening of Oct. 20^th.   →  Book a reservation for one of the very popular Wine Dinners at the Madison Valley Ranch, Oct. 27 or 28.  https://www.madisonvalleyranch.com/wine-dinners-montana.  → The new Mercantile shop will be opening up in the old Antler Design building on Main Street. → And, you can still go fishing, boating, golfing, hiking, trail riding, 4-wheeling, 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” → → The annual Spirit of Christmas Stroll in downtown Ennis, Dec. 8^th. → https://www.ennischamber.com.

MONTANA NEWS → Hunting Season is coming! This is the time of year hunters flock to Montana to pursue an ancient ritual.  And it is a privilege to be honored and respected.  Moral Compass | Outside Bozeman  Montana,   Counting mammals, birds, reptiles and amphibians, there are over 550 species of land animals in Montana.  And as Montana’s population grows, there are more encounters between the two. We do expect that hunters will:  respect the animals; honor the relationship we share with them; afford them fair chase; and measure up to the conservation ethic generations of hunters have passed to our custody.  It’s All About Elk (westernranchbrokers.com).  → How many Montanans were born in Montana?  The 2022 Census data indicates the state still has a majority of Montana-born population – for now.  Gallatin County (Bozeman) has the lowest number of “locals.”  Check out your state’s population!

FISHING REPORT → From Big John. Can you smell it?  If you smell the air in the Cultural Epicenter of trout right now it is a mix of falling moist leaves, drying grass, pumpkin spice, and fresh air.  It just feels like the air and sky are that much cleaner and clearer come October.  The gaggle of tourists has departed for home, hunters are doing their thing in the woods, college football is in full swing, the brown trout are all dressed up for the party and everyone is drunk off of relief, and pumpkin spice.  Why has pumpkin spice become the flavor of fall?  Does anyone really like it?  I love a pumpkin pie, but mixed into coffee, whiskey, or anything else, I just don’t think so.

If you’re in the Trout Kingdom the first few weeks of the month, it might just be really, really good.  The brown trout are getting ready to spawn and are now as brightly colored as the carved pumpkins for the spooky holiday.  They also become as aggressive as the villain from the Halloween movies.  Anything comes into their zone, and they react.  Not with chainsaws, but with aggression.   Now is the time to get the 7-wt and throw streamers.   We still like natural colors olive, white and black.  We also like smaller streamers in the 6-10 range.  Yes, you can throw those monsters from the celebrity leprechaun on the hill, but you will get more traction going smaller.  Think about it.  Browns will be chasing away smaller fish every day and not many drowned chickens.

If you’re going to get out, do it in the next three weeks.  Once we start pushing the spooky holiday at the end of the month, the chance of a storm gets much greater.  Also, why has Halloween turned into an adult drinking and scantily dressed holiday?   Must be an overdose of pumpkin spice.

Keep your eyes out for an overcast day with little wind.  If you find one, get out and look for rising fish.  The fall BWO hatch is right around the corner and the fishing can be good. It might just be the last dry fly they eat till spring.  Lots of great fishing to be had this month.  Best part is the river is a lot less busy this time of year. This is the locals time on the river.  Wear your waders as the water is getting cold.  Or come by the store and invest in a new pair of waders for fall.  I hear the tax man will let you deduct them.  It’s a write off!

Our end of season sale continues.   Stop by and get a gift for the fisherman on your holiday list.  Get it now and lessen the stress of the busy holiday season.  Great deals to be had.  Get out and fish now.   It might just be the best weather we see ‘till spring.  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 → September was a pleasant month, and the occasional nippy days were just a tease – a forecast of what’s to come. A reminder to get out the sweaters and long johns.  I still have tomatoes on the vine, but it won’t be long before the freeze comes.  The valley is starting to change from green to golden to brown.  Not long before it’s white!  Hunters will be happy!  Here in Ennis, the daytime high in September was 80°.   The daytime low was 65°.  The nighttime high was 54° with a nighttime low of 41°.  Remember, the Upper Madison, 50 miles south, is a totally different world of weather.  They have already had their hard freeze!

REAL ESTATE TIPS.  SHOULD I BUY A HOUSE NOW OR WAIT?  The decision to buy a house is a significant step that involves a thorough assessment of your financial situation, market conditions, and personal goals. As you contemplate this important choice, it’s crucial to consider both the current housing landscape and your individual circumstances.  After evaluating market conditions and your personal financial situation, you’ll be better equipped to decide whether to buy a house now or wait:

Buy Now If:

• Interest rates are low, making homeownership more affordable.
• You’ve saved for a down payment and other associated costs.
• The housing market in your area is stable or showing positive growth.
• You’ve evaluated your long-term goals and buying aligns with them.

Wait If:

• Interest rates are high, and you anticipate they might decrease in the near future.
• Your financial situation needs improvement, such as increasing your credit score or saving more for a down payment.
• The housing market in your area is volatile or experiencing a downward trend in prices.
• Your long-term plans are uncertain, and committing to homeownership doesn’t currently make sense.

Check out the graphs and read them in more detail at:  https://www.fanniemae.com/media/48971/display

HOME FOR YOUR SOUL → FEATURED PROPERTY OF THE MONTH.  HOME ON 20 ACRES.  This low-maintenance home, built in 2020, has all you need for comfortable, year-round living – 1,802 SF with 3 BR, 2 BA, extra-large garage/shop, with 360-degree views of the mountains and valley. The 20 acres are partially fenced and give you plenty of elbow room and privacy.  Centrally located in the valley, near world-class fishing, great hunting, biking, snowmobiling, boating, hiking, trail-riding, golfing and exploring, or just relaxing in comfort. Property owners enjoy exclusive access to the Madison River, through a strip of BLM.  50 Bowman Lane, Sphinx Mountain, Lot 19, Cameron MT 59720.  $899,000.  MLS # 384486.  GoogleEarth Coordinates: Lat. 45.15224, Lon. -111.68436°, Elevation 5,493’

REAL ESTATE NEWS – WASHINGTON (September 28, 2023) – Pending home sales slid 7.1% in August, according to the National Association of REALTORS®. All four U.S. regions posted monthly losses and year-over-year declines in transactions.  “Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” said Lawrence Yun, NAR chief economist. “Some would-be home buyers are taking a pause and readjusting their expectations about the location and type of home to better fit their budgets.”

The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – sank 7.1% to 71.8 in August. Year over year, pending transactions fell by 18.7%.  An index of 100 is equal to the level of contract activity in 2001.  “It’s clear that increased housing inventory and better interest rates are essential to revive the housing market,” added Yun.

Pending Home Sales Regional Breakdown.  The Northeast PHSI declined 0.9% from last month to 62.6, a reduction of 18.2% from August 2022. The Midwest index dropped 7.0% to 71.3 in August, down 19.1% from one year ago. The South PHSI fell 9.1% to 86.5 in August, dipping 17.6% from the prior year. The West index retreated 7.7% in August to 56.3, sinking 21.4% from August 2022.

“The Federal Reserve must consider the sharply decelerating rent growth in its consideration of future monetary policy. There is no need to raise interest rates. “Moreover, the government shutdown will disrupt some home sales in the short run due to the lack of flood insurance or delays in government-backed mortgage issuance,” said Yun.

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: There were a few new listings, plus the famous Granger Ranch went on the market for $13,750,000!  Prices are still coming down on some of the older listings.  This is a seasonal slowdown, but many buyers are just waiting for better prices and rates.  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 September were as follows:   

• HOMES: 63↑ homes listed ($349,000 to $9,995,000); 13 pending sales ($370,000 to $2,310,000); and 40 homes have sold in 2023 ($305,000 to $3,700,000), totaling $35,004,934 at 2%↑ of list prices.
• LAND: 135↓ vacant lots listed ($39,000 to $2,250,000); 17↑ pending sales ($88,000 to $298,000); and 62 lots have sold in 2023 ($6,497 to $925,000), totaling $15,587,094 at 7%↓ of list prices.
• COMMERCIAL: 6 commercial properties listed ($365,000 to $2,900,000); 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: 6 ranches listed ($960,000 to $13,750,000); 0 pending sales, 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 Ennis National Fish Hatchery is the largest of only three facilities in the U.S. Fish and Wildlife Service’s National Broodstock Program? The Service is the lead Federal agency responsible for the stewardship of the nation’s fish and wildlife resources.  The Ennis Fish Hatchery was authorized by Congress in 1930.  The Madison River Valley is rich in geologic diversity.  Sometime in eons past, disturbances in the earth’s crust caused pure, clean water to bubble to the surface, creating what is now known as Blaine Springs. The Hatchery was located here to take advantage of this amazing water source. The EFH produces about 20 million rainbow trout eggs a year for State, Federal and Tribal hatcheries in over 20 states.  Seven different strains of rainbow trout eggs are raised here, which spawn at different times, meaning eggs can be shipped to other facilities 9 months of the year!  The EFH is open to the public for self-guided tours.  Read more about it on their website at:  https://www.fws.gov/fish-hatchery/ennis.