April 2024

MADISON VALLEY APRIL “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? → The Madison Theatre continued their eclectic choice of films and live entertainment.  →  The Madison Valley  Ranch hosted their last Wine Pairing Dinner of the season. →  The Elling House in Virginia City held another Chautauqua and hosted a presentation by the Montana Poet Laureate, Chris LaTray. → The Ennis Fish Bowl & Alley Bistro Restaurant are now open under new ownership & with a new menu!  →  The Madison Foods market will be moving to their new building in June! → Shop small; shop local; shop Ennis! There are new businesses in town – check them out!

MADISON VALLEY MAY “HAPPENINGS” → The Madison Theatre presents a film premier of the documentary, “The Frontman – Dave Walker,” followed by a reception with the star and the film makers, on the 9th. Check out the schedule at:  https://ennismovies.com/ → The Madison Ranger District is co-hosting Annual Bear Creek Days, an event providing outdoor education and more to approximately 450 students, grades 3-8, May 14-16.  → The Ennis Chamber will be hosting Tap into Ennis – Brew & Spirit Festival, on Saturday the 18^th in Lions Park. https://www.ennischamber.com/tap-into-ennis. → Enjoy the Virginia City Season Kick-Off Parade & Duck Race + Horseback Poker Ride on the 25^th.  Starting 1:30 PM. → For information on the many other events in Virginia City – check them out at: https://virginiacity.com/events.  →  May is Mental Health Awareness Month, and spending time in nature is good for our mental health.  So, this would be a good time to listen to Mother Nature and head to Montana!  →  The Beaverhead – Deerlodge National Forest management has prescribed spring fires planned, with 3 scheduled in the Madison Valley. For updates, visit: https://inciweb.wildfire.gov/incident-information/mtbdf-beaverheaddeerlodge-nf-prescribed-fire-operations.  → And you can go fishing, floating, hiking, trail riding, play golf, go bowling, visit the library, do yoga, go to the gym, 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!  Extend your visit and Just do it all!

FUTURE “HAPPENINGS” →  A new dock system is coming to Kobayashi Beach on Ennis Lake this summer!  → There will be a Summer Kickoff Rodeo on June 1, with bronc & bull riding, at the Ennis Rodeo Grounds. Contact Katie for more info: (406) 930-1572.  →  There will be live folk music at the Elling House Arts & Humanities Center in Virginia City on June 15^th.   http://www.ellinghouse.org/  →   Virginia City will host an Irish Festival June 7-8. → Enjoy a BBQ Cook-Off at the Ennis Rodeo Grounds on June 22.  → The Jack Creek Preserve will host Wild About Wildlife, a Conservation Field School for Teachers, June 20 – 22.  Plus, many more events, at: https://www.jackcreekpreserve.org/. → The Music in the Park Summer Series will resume in Peter T’s Park, every Thursday evening from June 28 – Sept. 26. → And if you need lodging, better plan ahead for the 4^th of July Rodeo & Parade on July 3 and 4.  → The Annual Gravelly Range Wildflower Tour will be led by the Madison Ranger District on July 9^th. → The Ennis Chamber will also be hosting a Golf Tournament at the Madison Meadows Golf course on July 22.  → The 11^th Annual Montana “Ride to Remember” will go from Helena through Ennis to West Yellowstone on Aug. 17^th.  https://mtridetoremember.org/. → The Fly Fishing & Outdoor Festival will be held on Aug. 24, from 10 – 6. → The Hunters Feed will start at 3 PM on Oct 25.  → The annual Ennis Christmas Stroll will be on December 6.

MONTANA NEWS → Montana’s Climate Action Plan released just last month identifies expanding proactive forest management on Montana forest lands as a key strategy for addressing carbon emissions by “cutting harmful air pollution and reversing trends that have made our lands and forests net emitters of greenhouse gases when they should instead be serving the country as significant carbon sinks.”  So, while radical climate activists are throwing soup on the Mona Lisa, the Montana loggers who support active forest management projects throughout the state are out there helping to actually improve the climate in real, tangible ways. https://frontierinstitute.org/on-earth-day-thank-a-logger/. → The goal of the Montana 2050 Project is to assess the current and future technological landscape to identify opportunities that will enable Montana to lead the economy of the future.  The first of this series is focused on a booming industry poised to become the backbone of the economy in 2050: Data Centers.  Montana, the last best place, could become a world-class destination for computing.  There are many advantages, such as: cool weather; lower risk of natural disasters; strategic location between two major data center regions; a business-friendly environment; lots of affordable land; and access to carbon-neutral electricity.  The Montana 2050 Project is addressing the challenges to achieve this goal. https://frontierinstitute.org/montana-2050-data-centers/. → Road construction season has begun, across the state.  Take your time, be patient, and enjoy the views!

FISHING REPORT → May days are a time to play, Summer is here, Winter go away!  This is our fishing season, and it is time to enjoy all that Montana offers.  May is just the start to a summer of fun in the Cultural Epicenter of Trout.  Things are getting busier by the day.  Parking is starting to get thin on Main Street, friends old and new are returning to town for another epic summer.  This is our favorite time of year.  Green grass, snow-covered peaks, and good vibes.

If you’re going to fish this month, get here during the first week.  The Mother’s Day caddis hatch will happen.  It can be some of the best dry fly fishing of the season.  Mix in some BWO mayflies, skywala stone flies and even a few March Browns and it is a dry fly dream – the stuff of Montana Moments.  Get here now, as this will not last.  As the month rolls along, we will see some high water. The peak of runoff is always the last few days of May and the first few of June.  With the lower-than-normal snow pack this year, do not expect a big flush for an extended period of time.  I am expecting about a week of off-colored water.  This can change with rain.  We believe that runoff starts after three days in a row of over 70 degrees and lows in the 50’s.  This is always the trigger.  Throw in some rain on top and it gets western fast.

As we said, runoff should be short and not a huge volume.  We should be fishing with the big nasty stuff almost right through.  May is a great month to fish as there is always fishable water somewhere in the valley.  Give us a call at the store if you want some suggestions.  We’ll share our secrets!  If you’re looking for a guided trip this summer, give us a call now.  It is looking like another busy season and guide availability is starting to show some completely full dates.  Come in and get a new line for the dry fly madness to come.  Dry fly fishing is always better when your fly line floats!  This is going to be a great season, in the Cultural Epicenter of Trout and we are just at the beginning. 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 → March was pretty mild and brought us 12 days with some kind of precipitation – rain, snow, and something in between!  It is tempting to believe winter is over!  The daytime high in March was 66° and  the daytime low was 32°.  The nighttime high was 37°,  with a nighttime low of  9°.

REAL ESTATE TIPS → WHAT BUYERS WANT IN A HOME IN 2024. According to the National Association of Homebuilders, buyers want Better Not Bigger!  The average size of a new home continues to inch smaller, dropping from 2,479 SF in 2022 to 2,411 SF in 2023 – the smallest average size in 13 years!  Now, according to NAHB, home buyers are looking for homes around 2,070 SF, compared to 2,260 SF 20 years ago.  Home buyer references and affordability are the two main factors affecting size reduction.  Home features at the top of buyers’ wish lists in 2024 are:  laundry room; patio; Energy Star windows; exterior lighting; ceiling fans; garage storage; front porch; hardwood flooring; full bath on main level; Energy Star appliances; walk-in pantry; landscaping; and table space in the kitchen. Read more about it at: https://www.nahb.org/news-and-economics/press-releases/2024/02/top-design-trends-for-2024

HOME FOR YOUR SOUL. FEATURED PROPERTY OF THE MONTH → REMIER MADISON RIVER PROPERTY. This 10-acre parcel has magnificent Madison River + mountain views + excellent fishing, near the “Big Bend” on the river.  Build your dream home on the bench with dramatic views of the rock cliffs on the opposite shore, across a wide stretch of river.  Access the river by a trail down to a common area with exclusive use of one mile of shoreline (no public access from land).  Easy, year-round access from US Hwy 287, through a private locked gate, via a new gravel road, down to the building site.  Close to great hunting, fishing, boating, hiking, trail riding, snowmobiling, 4-wheeling, and just getting away from it all!  Uline Bench, Lot 2-B, Cameron, MT 59720,  $995,000.  MLS # 384157.  GoogleEarth Coordinates at building site:  Lat. 44.849952°, Lon. -111.540970°, Elevation 6,059’.   Home – Toni Bowen (erarealestate.com)

REAL ESTATE NEWS → WASHINGTON (April 25, 2024) – Pending home sales in March climbed 3.4%, according to the National Association of REALTORS®. The Northeast, South and West posted monthly gains in transactions while the Midwest recorded a loss.  Year-over-year, the Northeast and South registered decreases but the Midwest and West improved.  The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – increased to 78.2 in March. Year over year, pending transactions were up 0.1%. An index of 100 is equal to the level of contract activity in 2001.  “March’s Pending Home Sales Index – at 78.2 – marks the best performance in a year, but it still remains in a fairly narrow range over the last 12 months without a measurable breakout,” said NAR Chief Economist Lawrence Yun. “Meaningful gains will only occur with declining mortgage rates and rising inventory.”

Quarterly U.S. Economic Forecast.  NAR forecasts that existing-home sales will rise by 9% in 2024 to 4.46 million (from 4.09 million 2023) and another 13.2% in 2025 to 5.05 million (from 2024). Housing starts are expected to rise by 1.2% in 2024 to 1.43 million (from 1.413 million in 2023) and 4.9% to 1.5 million in 2025 (from 2024).  “Home sales have lingered at 30-year lows, and since 70 million more Americans live in the country now compared to three decades ago, it’s inevitable that sales will rise in coming years,” explained Yun. “Inventory will grow steadily from more home construction, and various life-changing events will require people to trade up, trade down or move to another location.”

NAR expects that median home prices will increase by 1.8% in 2024 to a record of $396,800 (from $389,800 in 2023) and another 1.8% in 2025 to $403,800 (from 2024). NAR forecasts a modest reduction – 0.6% – in the median new home price to $426,100 in 2024 (from $428,600 in 2023), reflecting the building of smaller-sized homes. The association  anticipates the median new home price will jump 3.4% to $440,500 in 2025 (from 2024).

“Home prices are expected to rise roughly in line with consumer price inflation and wage growth over the next two years,” added Yun. “Most homeowners are on strong financial footing in current market conditions, with only 2% of sales classified as being distressed.”  NAR expects home sales to steadily improve while home prices continue to hit record highs.  “Job gains, steady mortgage rates and the release of inventory from pent-up home sellers will lead to more sales,” explained Yun. “Given the lingering housing shortage, home prices will march higher, albeit much more slowly than in the past.”

Pending Home Sales Regional Breakdown.  The Northeast PHSI increased 2.7% from last month to 65.1, a decline of 0.3% from March 2023. The Midwest index fell 4.3% to 78.1 in March, up 1.3% from one year ago.  The South PHSI improved 7.0% to 95.8 in March, dropping 1.5% from the prior year. The West index rose 6.8% in March to 61.0, up 3.6% from March 2023.   “Home prices rising faster than income growth is not healthy and adds challenges for first-time buyers,” said Yun.  He further noted, “Inventory will gradually rise from recent growth in home building.  Additionally, many sellers who delayed listing in the past two years will start putting their homes on the market to move to a different home that better fits their new life circumstances – such as changes in family composition, jobs, commuting patterns and retirees wanting to be closer to their grandkids.”

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 market is heating up for the season – more residential and land listings and pendings. But we do see price reductions on the properties that have been on the market for a while.  There is still time before the summer rush!  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 April were as follows:   

• HOMES: 45↑ homes listed ($275,000 to $9,500,000); 11↑ pending sales ($299,000 to $1,175,000); and 14 homes have sold in 2024 ($455,000 to $765,000), totaling $8,763,500, at 3% ↓ of list price.
• MULTI-FAMILY: 6 listings ($575,000 to $2,800,000); 0 pending sales; 1 sold in 2024 ($830,000) at 98% of list price.
• LAND: 155↑ vacant lots listed ($15,000 to $8,500,000); 6↑ pending sales ($115,000 to $289,950); and 16 lots have sold in 2024 ($5,000 to $420,000), totaling $3,294,500 at 4% ↑ of list price.
• COMMERCIAL: 9↑ commercial properties listed ($365,000 to $2,995,000); 0↑ pending sales; and 1 commercial property has sold in 2024 ($553,300), at 6% of list price.
• RANCHES: 2↓ ranches listed ($9,500,000 to $13,750,000); 1↑ pending sale ($1,800,000), and 1 ranch has sold in 2024 ($1,350,000) at 6% 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…. Montana has the third-highest drowning rate in the USA (behind Hawaii & Alaska)?!  There are many hazards on Montana rivers, especially for boaters, things such as: strong currents, high water, ice jams, log jams, submerged obstacles, diversion dams, rocks, icy temperatures, big holes, blind corners, bridge pilings, powerful eddies, over-hanging branches and standing waves!  There are many low head dams in rivers across Montana that have been dubbed “drowning machines” or “killer dams.”  So, boaters and floaters beware!  It is also a good reason to hire a licensed guide who knows the river, where the fish are, and can bring you back safely!

For more information:  https://waterdata.usgs.gov/mt/nwis/current/?type=intro&group_key=basin_cd;  The Curse of the Black Pearl | Outside Bozeman; https://www.kbzk.com/community/this-week-in-fish-and-wildlife/this-week-in-fish-and-wildlife-river-safety-tips-from-montana-fwp; https://fwp.mt.gov/activities/boating/river-ethics; https://www.trailheadmontana.net/2015/3267/; https://guiderecommended.com/fly-fishing-dangerous/#:~:text=Fly%20fishing%20can%20be%20surprisingly%20dangerous%20if%20you,plants%2C%20snakes%2C%20and%20hooks%20that%20can%20impale%20you.  Yikes!

CHECK OUT THE NEW FILM, “Mending the Line,” on Netflix

A wise Old Timer from the area once told me,  

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