MADISON VALLEY JANUARY “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley?  → The Madison Valley  Ranch hosted another outstanding Wine Pairing Dinner. → A Master Gardener class was held at the Madison Valley Library.  → Fishing buddies enjoyed  Fly Tying Nights at the Burnt Tree Brewery.  → There was a Seed Swap at the Madison Valley Public Library.  →  The Elling House Arts & Humanities Center in Virginia City held their first Chautauqua of the year. →  Big Sky Resort held a 50^th Anniversary Party.  →  They are making snow on the mountain at Big Sky! Check it out at:  https://bigskyresort.com/snow-report.  → And even more fun at The Johnny Cash Concert in Big Sky. →  Shop small; shop local; shop Ennis! The sidewalks are not rolled up for the winter!

MADISON VALLEY FEBRUARY “HAPPENINGS” →Live music at the Gravel Bar on the 3^rd. → Be at the Pioneer Bar in Virginia City on the 3^rd for a Lip Sync Contest!  → Check out the 6^th annual Big Sky “Best in the West”Ski Joring” on the 3^rd – 4^th. → Ennis Lions Club is hosting a Texas Hold ‘em Poker Tournament at 1 PM on the 4^th at the Silver Dollar Saloon.  → Trivia Night at Willie’s Distillery on the 7^th at 6 PM. → More Wine Pairing Dinners at the Madison Valley Ranch on the 9^th and 10^th.  →  Register the kids for  Kids’N’Snow program, https://kidsnsnow.org/ in W. Yellowstone on the 10^th. → Sign up for Wildlife Tracking in a Winter Wonderland event at Jack Creek Preserve on the 10^th. → Reserve tickets for “Pour and Roar: Raptors & Romance,” the annual prehistoric Valentine’s date-night experience, https://museumoftherockies.org/signature-events/pour-and-roar-raptors-romance, on Feb. 14^th. → The Elling House Arts & Humanities Center in Virginia City will hold a Chautauqua on the 17^th.  https://www.facebook.com/ellinghouse/. → The Missoula Childrens’ Theatre will be performing Treasure Island in Ennis on the 23^rd at 4:00 and 6:30 PM. →  Live music at the Gravel Bar on the 23^rd. → The Madison Theatre will be re-opening, under new management, in February!  So, stay tuned for shows and events!  →  And you can go ice fishing at Hebgen Lake, downhill skiing at Bridger Bowl or Big Sky, x-country skiing in West Yellowstone, ice skating in Virginia City, play disc golf in Ennis, or stay inside and go bowling, visit the library, do yoga, take exercise classes, have a facial and a massage, play Pickleball, Mahjongg, take in a movie, visit the Museum of the Rockies in Bozeman, or eat, drink, stroll through Ennis, and go shopping!  Just do it all!

FUTURE “HAPPENINGS” → There will be more Chautauquas at the Elling House Arts & Humanities Center in Virginia City in March and April. → Enroll your 12–17-year-olds in theWinter Outdoor Skills Camp, March 22^nd – 24th.  https://www.jackcreekpreserve.org/.  → There will be more Wine Pairing Dinners at the Madison Valley Ranch on  March 23, April 12 & 13 and May 24 & 25.  So, mark your calendars and check out  fly fishing packages as well, at: https://www.madisonvalleyranch.com/.

MONTANA NEWS → One-hundred-fifty nuclear missiles in central Montana will be replaced in the coming years.  Air Force officials visited the region this week to explain the project and answer questions about the work.  Project Sentinel is expected to hire up to 3,000 people and bring truckloads of machinery to Montana as missiles installed across the West during the 1960s are replaced.  Hundreds of nuclear missiles are in silos throughout central Montana.  Air Force officials said much of the missile data, like launch codes, are still stored on floppy disks and need upgrades. Hubs for the replacement project will be in Great Falls and Lewistown. →  Montana’s major industries, including construction, retail, healthcare and hospitality remained strong in 2023. But high interest rates have driven down mortgage applications, and tourism and migration have cooled. That’s bringing Montana’s economic growth “back to earth.”→ Montana native actress, Lily Gladstone, is among the nominees at this year’s Academy Awards.  Gladstone grew up on the Blackfeet Reservation and is the first Native American to receive an Oscar nomination for best actress, according to the Hollywood Reporter.  Gladstone’s breakout performance in Martin Scorsese’s film “Killers of the Flower Moon” already earned her a Golden Globe award earlier this month.  Gladstone plays Mollie Burkhart, an Osage woman, in Oklahoma, who perseveres as members of her family and tribe are murdered by white settlers for their oil wealth.

FISHING REPORT → We are now in the shortest month of the year. It only feels about 124 days long.  I say it all the time, but February might just be the longest month of the year, for fly fishermen, in Montana.  Lots of waiting while old man winter fights it out.  Football is about over – just one more game to root against the entitled Chiefs and hope someone can ruin their party and get over Taylor Swift!   The Hallmark holiday is coming up.  This is where guys buy all sorts of stuff, like flowers grown half-way around the world for those they love.  Well, why not fishing gear instead?  It lasts longer, is more useful, and can reduce your carbon footprint!

We need snow.  If you all know a snow dance, now is the time to get busy.  Put on your favorite dance tune.  (Just, no Taylor Swift, please!)  Drink some whiskey and shake that money maker for more snow.  We have lots of winter days left to catch up, but as of now, we are hurting in the snow category.  If everyone gets busy dancing, we can make it happen.  Kind of like crowdfunding for snow!  It is also a good activity for the Hallmark holiday.  Girls like to dance, so now we can do it for a purpose.  I suggest mid-90’s hip hop as the best snow dance tunes.  Try it, you will like it!

There are still lots of opportunities to catch fish, even now.  We have been seeing some spring-like weather.  Standard winter fare of stone fly, midges, worms and eggs will keep your line bent.  We like the Bear Trap Canyon this time of year, along with the water above Lyons bridge.  Keep an eye out for risers.  We have been seeing some good midge activity and some risers on the right days.  Buzz balls and para midges will catch those pesky risers.  If you’re looking for rising fish, go out on days with little or no wind and warm temps.   The best fishing is mid-afternoon.  Avoid the “Gorge.”

March is right around the corner – only 124 days away! – and the start of our spring season.  Lots of good stuff to look forward too.  Everyone should start the spring season with a new line or new waders.  In fact, we have both on sale right now.  They make good gifts for the upcoming holiday.  Leave hints for your sweetheart!  Cheers! 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!

And check out:  https://mtflyfishmag.com/

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 first and last part of January consisted of nice, mild, sunny “spring-like” weather.  But, for five brutal days in the middle of the month, from the 12^th – 16^th, an Arctic blast tested our resilience and our pipes!  The daytime high in January was 48° and the daytime low was minus 17°!   The nighttime high was 30°,  with a nighttime low of minus 40°!!  And it was TOO COLD TO SNOW!  And the Madison River gorged!  Still waiting for much-needed snow.

REAL ESTATE TIPS → WHAT IS A “BARNDO?  “Barndo” is short for “barndominium,” an increasingly popular phenomenon that many consumers are seeking out as an alternative living option.  With uncertainty surrounding the US housing market, including record high prices and low inventory, some buyers like the  versatility of the design and affordability of a barndo. Originally, a barndominium was a barn that a builder converted into an all-purpose living and workspace.  Now, they are usually new structures built from a kit made of metal but which can also be constructed with more traditional siding. Builders construct barndominiums so that the outer walls bear the building’s load, giving these homes a flexible interior space that homeowners can use in a variety of ways.  But, like most new ideas, there are pros and cons.  Some things to consider before you decide on a barndominium:

1. Lower Building Cost and Shorter Construction Time – Depending upon materials and finishes, construction costs could be significantly lower than for a traditional house and built much faster.
2. Durability and Maintenance – The metal construction of typical barndo kits is weather-resistant, low-maintenance, long-lasting, and helps keep the bugs out!
3. Efficiency and Incentives – Their high-efficiency design can save on heating and cooling bills and may also qualify for federal energy efficiency incentives.
4. Insurance benefits – The simple construction could qualify for lower insurance costs.
5. Mortgage questions – Not all lenders will finance non-traditional homes.
6. Flexible Interiors – Homeowners can creatively accommodate activities that traditional homes might not. Once you’ve built the shell, you can divide the interior space however you want, but at least 50% of the interior would need to be living space to qualify as a “home.”  Well-suited to high-ceiling designs.
7. Location Restrictions – Zoning rules would need to be considered, as well as subdivision covenants which often restrict metal siding and/or roofs, and even the design itself may not be acceptable.

HOME FOR YOUR SOUL.FEATURED PROPERTY OF THE MONTH → 20 ACRES WITH 360° VIEWS!  A great place to build your dream home, in the heart of the valley, 15 miles South of Ennis, 90 minutes to Yellowstone Park & Bozeman AP, with access to the famous Madison River!  Close to great fishing, hunting, hiking, trail riding, exploring or just getting away from it all!  Small subdivision of 8 lots, with underground power & fiber optic cable.  Holding Pen, Lot 108.  MLS # 383850,  $285,000.  GoogleEarth Coord. Lat.- 45.173378°, Lon.-111.697069°, Elevation 5,437’. My Active Listings – Toni Bowen (erarealestate.com).

REAL ESTATE NEWS → WASHINGTON (January 26, 2024) – Pending home sales in December elevated 8.3%, according to the National Association of REALTORS®. The Midwest, South & West posted monthly gains in transactions while the Northeast recorded a loss. The Midwest, South & West also registered year-over-year increases while the Northeast had a decline in transactions compared to last year.

The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 77.3 in December. Year over year, pending transactions were up 1.3%.  An index of 100 is equal to the level of contract activity in 2001.  “The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” said Lawrence Yun, NAR chief economist.  “Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.”

NAR also released its Economic Outlook as of January 2024, projecting a 13% increase in existing-home sales in 2024 (from 2023) to 4.62 million and a 15.8% increase in 2025 (from 2024) to 5.35 million. The annual median home price is expected to rise 1.4% to $395,100 in 2024, and then increase 2.6% to $405,200 in 2025.  “Home sales are projected to rise significantly in each of the next two years as the market steadily returns to normal sales activity,” added Yun.

The Federal Reserve will likely cut interest rates four times. The 30-year fixed mortgage rate will bounce along the 6% to 7% range for most of the year.  NAR forecasts that due to sizable growth in apartment construction over the past three years, rent growth will calm, which will help bring consumer price inflation to less than 3% in 2024.

Pending Home Sales Regional Breakdown – The Northeast PHSI dropped 3.0% from last month to 62.3, a decline of 3.9% from December 2022. The Midwest index increased 5.6% to 80.5 in December, up 4.3% from one year ago.  The South PHSI jumped 11.9% to 93.0 in December, rising 1.5% from the prior year. The West index surged 14.0% in December to 61.0, up 1.5% from December 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: The “mostly” mild weather in January has made it easier for buyers to view properties and the year started off well.  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 January were as follows:  

• HOMES: 43↓ homes listed ($275,000 to $9,995,000); 7↑ pending sales ($475,000 to $1,495,000); and 0 homes have closed, so far, in 2024.
• LAND: 132↑ vacant lots listed ($6,000 to $1,250,000); 6 pending sales ($149,000 to $2,250,000); and 4 lots have sold in 2024 ($79,000 to $350,000), totaling $851,500 at 5%↓ of list prices.
• COMMERCIAL: 7↑ commercial properties listed ($365,000 to $2,995,000); 1↑ pending sale ($597,500); and 0 commercial properties have closed, so far, in 2024.
• RANCHES: 3↓ ranches listed ($3,995,000 to $13,750,000); 1 pending sale ($3,900,000), and 1 ranch  closed, so far, in 2024 ($1,350,000) at 90%↓ of list price.

“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….There are many wonderful romantic get-aways in Montana? So, let’s talk “romance…in Montana.”  If you think Montana is just the land of rugged plains, sauntering cattle, and family-filled national parks, think again!  You will also find blissful, romantic getaways, perfect for couples looking to getaway together and connect.  Check them out:

Lake Getaways:  Lodge at Whitefish Lake, in Whitefish; Averill’s Flathead Lake Ranch

Romantic Ranches for Couples:  The Ranch at Rock Creek, in Phillipsburg; Triple Creek Ranch, in Darby

Romantic Cozy Cabins and Lodges: Rainbow Ranch Lodge, in Gallatin Gateway; Laughing Horse Lodge, in Bigfork; Sage Lodge, in Pray; Coyote Bluff Estate, in Somers; North Forty Resort, in Columbia Falls

Small Town Charm: Bridge Street Cottages, in Big Fork; 1872 Inn, in West Yellowstone

Romantic City Stays: The Northern, in Billings; Gibson Mansion B&B, in Missoula

Hot Springs Romance: Quinn’s Hot Springs Resort, in Paradise; Chico Hot Springs, in Pray

Romantic Treehouse or Train Car!  Montana Treehouse Retreat, in Columbia Falls or the Izaak Walton Inn, in Essex, for a converted train car experience!

Go Glamping Together in Luxury:  The Bar W Guest Ranch, in Whitefish; The Resort at Paws Up, in Greenough; Under Canvas Yellowstone, in West Yellowstone.

MONTANA is for Lovers!

A wise Old Timer from the area once told me,  

“Don’t try to change the Madison Valley… let the Valley change you!”