June 2024

MADISON VALLEY JUNE “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? →. There was a Summer Kickoff Rodeo with bronc & bull riding, at the Ennis Rodeo Grounds. → There was a Father’s Day Fishing Derby at Lions’ Club Park for kids. → iBaroque Music Montana performed “Musical Delights” at Trinity Episcopal Church in Jeffers. → The Madison Valley History Museum held an Open House. → A Jackson Hole Jazz Festival was sponsored by the Madison Valley Library. → The all-new Madison Foods market opened its doors to a wonderland of food and more! → Virginia City held their Irish Weekend, Vigilante Music Festival and Brothel Days, plus the Virginia City Playhouse opened for the season. → The Summer Music in the Park Series started for the season, on Thursday evenings. → The Jack Creek Preserve hosted Wild About Wildlife, and an Outdoor Skills Camp for kids. → Sandhill Cranes were the subject of the June Wildlife Speaker Series. → There was a BBQ Cook-Off at the Ennis Rodeo Grounds. → The Brewery Follies opened in VC for the season. → The outdoor Cowboy Church started up for the summer, somewhere between VC and Nevada City. → And there was live music at Willie’s Distillery. → Shop small; shop local; shop Ennis!

MADISON VALLEY JULY “HAPPENINGS” → The annual July 4^th festivities will include an NRA Rodeo on the 3^rd and the 4^th at the Rodeo Grounds; a Parade down Main Street, starting at 10 AM – this year’s theme is Wranglers & Anglers; a BBQ in the Park at 11; an Independence Day Ceremony at the Veterans Memorial Park at 12; and Fireworks in Virginia City at dusk! → Then there is the 5^th annual Watercraft Parade on Ennis Lake on the 6^th. → The Madison River Foundation is hosting its Fundraising Gala on the 6^th. https://www.madisonriverfoundation.org/. → The Annual (not-to-be-missed) Gravelly Range Wildflower Tour will be led by the Madison Ranger District on the 9^th. https://www.fs.usda.gov/detail/bdnf/news-events/?cid=FSEPRD637911. → Check out the schedule for the Madison Theatre movies and events, at: https://ennismovies.com/. → The Summer Music in the Park Series will be held in Peter T’s Park, on Thursday evenings, 5-7. → The Ennis Chamber will be hosting a Golf Scramble at the Madison Meadows Golf course on the 22^nd . → Check out the Vigilante Car Show, 10-4, at the Bale of Hay Saloon in VC on the 13^th and the Virginia City Brewfest on the 27^th. For info on other events in VC, check them out at: https://virginiacity.com/events. → Sign up for the Wildflower Stroll on the 13^th at the Jack Creek Preserve. Details at: https://www.jackcreekpreserve.org/. → The Summer Music in the Park Series will be held on Thursdays, from 5-7 PM in Peter T’s Park and run through Sept. 26^th. → Jack Creek Preserve is hosting an Evening at the Preserve on the 17^th, and another Outdoor Skills Camp for kids, on the 26^th–28^th, https://www.jackcreekpreserve.org/. → The Ennis Arts Association will host their annual Madison Valley Arts Festival on July 27 from 10-5 in Peter T’s Park. → The outdoor Cowboy Church will be held through Labor Day, at 10:00 AM, somewhere between Virginia City and Nevada City. → 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, 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! → Enter the raffle to win an Elk Hunt! RAFFLE – 2025 Archery Elk Hunt — Jack Creek Preserve Foundation! → The annual Noxious Weed Dinner will be held at the Hollowtop Angus Ranch in Pony on Aug 3^rd. For more info, call the Madison Valley Ranchlands Group. (406) 682-3259. → The 11^th Annual Montana “Ride to Remember” will go from Helena through Ennis to West Yellowstone on August 17^th. https://mtridetoremember.org/. → The Ennis Arts Association Garden Tour will be held on Aug. 17. For more info: https://ennisarts.org. → The Fly Fishing & Outdoor Festival will be held on Aug. 24, from 10 – 6. in Peter T’s Park. https://www.ennischamber.com/fly-fishing-and-outdoor-festival. → Register for the Woman’s Wilderness Retreat on August 31^st at the Jack Creek Preserve. https://www.jackcreekpreserve.org/events. → The Hunters Feed will be held 3-5 PM (or ‘till food runs out!) on Oct. 25th. → The annual Ennis Christmas Stroll will be held on December 6th.

MONTANA NEWS → Earlier this month, a white buffalo calf was born in the vast and lush Lamar Valley of Yellowstone National Park, where huge, lumbering bison graze by the hundreds in scenes reminiscent of the old American West. To the several tribes who revere American bison (they call them “buffalo”) the calf’s appearance was both the fulfillment of sacred prophecy and a message to take better care of the Earth. https://montanafreepress.org/2024/06/26/tribes-honor-the-birth-of-a-rare-white-buffalo-calf-in-yellowstone/ → Film and TV companies spent $334 million in Montana over the past two years, according to numbers released to state legislators. Television, including the filming of the “Yellowstone,” franchise was the big contributor with $275.7 million spent between July 2022 and May 2024. → Montanans can anticipate a generally normal fire season this summer, a regional fire weather forecaster reported at a briefing in Bozeman. → Road construction season has begun, across the state. Take your time, be patient, and enjoy the views!

FISHING REPORT → Montana Summer at its finest. July is the month we dream about all winter long. Warm temperatures, good fishing and easy livin’. We start the month with the celebration of America and our small-town parade and rodeo. This is the best day of the year for Ennis. Each store is decorated like a bald eagle threw up in there, the streets are lined with thousands for the parade, and everyone is happy to be celebrating freedom. A great day for Ennis, for Montana, and America, in general. On that note — everyone is all divided about politics, debates, and their own personal causes. I believe that if we want to have a better America, we should all focus on being better Americans. I believe that striving for personal excellence in every aspect of our lives is the ultimate freedom. If everyone did this, we would have a better community, country, and world. And we would all be happier and better for it. But, as my wife tells me, “Watch your own damn bobber!”… End of rant.

Fishing is good now and the living is easy. Salmon flies are still on the upper river. The “big bug” madness is still going strong. If you have not taken a bite of that apple, you should get it soon. Once the salmon flies are gone, it will be a long winter ‘till we see them again. Not to fear, there is still some darn good dry fly fishing to be had. Golden stones, yellow sallies, caddis of every shape and size, and mayflies will all be on the menu in the coming weeks. We have darn good water in the river right now, holding at 1620 CFS at Varney Bridge. This should continue and we should see good water all month. Fish like cold water, this makes them happy. Happy fish like to eat flies. Going into the month, the dry dropper game will be strong. I like dry flies – try them, you might like them as well.

If you’re a bobber lobber nymph guy, you will have tons of success. Princes, caddis, and stone flies will all keep you bent, all day long. The thing about bobber nymph fishing is this. If you like whitefish, you will catch plenty. The ratio we have found is about 2 whitefish for every trout that eats nymphs. There is nothing wrong with loving the whitefish and nymphing. They pull hard and wiggle at the end of the line. A good pull and wiggle are always fun. Nymph fishing will continue to shine all month. Embrace the bobber and the whitefish.

There will be tons of fishing opportunities this month. This is the peak of our summer. It does not get any better than this. This is the pinnacle of Montana fishing. Stop by the store and we will get you all fixed up with the right bugs, technique, and spots to make you happy, happy, happy on the river. Don’t forget America is Great! See you on the water this month. Come support a local, family-owned fly shop for friendly service and the best selection of bugs in Ennis. 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 →June brought 5 days of wonderful rain, so the valley is lush green. The snowpack in the Madison was near normal at 98%, compared with 74% this time last year, due to slower snowmelt. The weather will be perfect for the week of the 4^th, with sunshine and temps in the 70’s! The daytime high in June was 92° and the daytime low was 64°. The nighttime high was 54°, with a nighttime low of 32°.

REAL ESTATE TIPS →NEW RULES REGARDING COMMISSIONS. On March 15, The National Association of REALTORS® reached an agreement with plaintiffs that would, if approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions. The Settlement also includes some changes to real estate transactions, but importantly, consumers will continue to have choices regarding real estate services. These practice changes will go into effect on 8/17/24:

Real estate agents who use and list properties for sale on a Multiple Listing Service (MLS)—a local marketplace used by real estate professionals (both buyer brokers and listing brokers) to share information about inventory in a particular area—will be required to enter into written agreements with buyers before touring a home. Those written agreements must include:
- A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.
- Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended (e.g., cannot be “buyer broker compensation shall be whatever the amount the seller is offering to the buyer”).
- A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and
- A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.

NAR has long encouraged its members to use written agreements with buyers because they help consumers understand exactly what services they have agreed to, the roles and responsibilities, and the amount. For this reason, several states already have laws requiring buyer agreements.

There are also changes to how and where real estate professionals may communicate with each other about offers of compensation. These offers are no longer allowed on Multiple Listing Service (MLS) platforms. Sellers can still offer compensation off an MLS. Sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs).

Things to know as a home buyer or seller:

If you are a buyer and your agent is using an MLS, you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided, and for how much.
Written agreements are required for both in-person and live virtual home tours.
You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.
Agent compensation for home buyers and sellers continues to be fully negotiable.
When finding an agent to work with, ask questions about their services, compensation and these written agreements.
More details about these changes and what they mean can be found at realtor.

What the NAR Settlement Means for Buyers & Sellers – Download pdf 103.97 kb. Updated May 24, 2024

HOME FOR YOUR SOUL. TWO HISTORIC VIRGINIA CITY PROPERTIES ARE THE FEATURED PROPERTIES OF THE MONTH → This rare opportunity to own a piece of Montana’s history is not to be missed. Whether you are seeking a full-time residence, a vacation retreat, or a historical investment, these charming vintage homes in Virginia City promise to enchant and inspire.

EXQUISITELY RENOVATED VINTAGE HOME on 2 city lots, in the Historic Landmark District. This circa 1890’s Victorian-era home is 1,391 SF, with 2 BR/2BA, living room with propane stove & large stained-glass window, large dining room, country kitchen w/pantry & root cellar, sunroom with wood stove & planter, bedroom & full bath downstairs, and bedroom & full bath upstairs, + attic storage & more. The home has undergone a complete overhaul to ensure modern comfort while preserving its vintage charm. Relax on the elegant, old-fashioned front porch. There are also 2 outbuildings (a vintage log miners cabin & a small studio). 115 West Cover St, Virginia City, MT 59755, $510,000. MLS # 393502.

HISTORIC HOMESTEADER’S CABIN on 1.29 ACRES This original 1,000 SF cabin was built of hand-hewn logs which were transported and meticulously restacked on its present site, using recycled materials in its restoration. The cabin features a full-equipped kitchen, 1 full BA downstairs, living area with woodstove, two bedrooms and half bath upstairs. There is a cozy sunroom and a front porch with sweeping views of sage-covered hills and mountain ranges, breathtaking sunsets and brilliant night skies as you look out across nearly 400 acres of open ranch land. 113 East North Street, Virginia City, MT 59755, $640,000. MLS # 393561 Home – Toni Bowen (erarealestate.com)

REAL ESTATE NEWS → WASHINGTON (June 27, 2024) – Pending home sales in May slipped 2.1%, according to the National Association of REALTORS®. The Midwest and South posted monthly losses in transactions while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 70.8 in May. Year over year, pending transactions were down 6.6%. An index of 100 is equal to the level of contract activity in 2001.

“The market is at an interesting point with rising inventory and lower demand,” said NAR Chief Economist Lawrence Yun. “Supply and demand movements suggest easing home price appreciation in upcoming months. Inevitably, more inventory in a job-creating economy will lead to greater home buying, especially when mortgage rates descend.”

NAR predicts mortgage rates will remain above 6% in 2024 and 2025, even with the Federal Reserve cuts to the Fed Funds rate. The association forecasts that existing-home sales will rise to 4.26 million in 2024 (from 4.09 million 2023) and to 4.92 million in 2025 (from 2024). Housing starts are expected to rise to 1.382 million in 2024 (from 1.413 million in 2023) and to 1.492 million in 2025 (from 2024).

NAR anticipates the median existing-home price will increase to a record annual high of $405,300 in 2024 (from $389,800 in 2023) and to $412,000 in 2025 (from 2024). NAR forecasts increases in the median new home price to $434,100 in 2024 (from $428,600 in 2023) and $441,200 in 2025 (from 2024). “The first half of the year did not meet expectations regarding home sales but exceeded expectations related to home prices,” explained Yun. “In the second half of 2024, look for moderately lower mortgage rates, higher home sales and stabilizing home prices.”

Pending Home Sales Regional Breakdown. The Northeast PHSI ascended 1.1% from last month to 63.6, a decline of 2.3% from May 2023. The Midwest index dropped 0.4% to 70.4 in May, down 5.6% from one year ago. The South PHSI lowered 5.5% to 83.7 in May, falling 10.4% from the prior year. The West index increased 1.4% in May to 56.7, down 2.1% from May 2023.

Existing Homes Sales. Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million. Sales descended 2.8% from one year ago. The median existing-home sales price jumped 5.8% from May 2023 to $419,300 – the highest price ever recorded and the eleventh consecutive month of year-over-year price gains. The inventory of unsold existing homes grew 6.7% from the previous month to 1.28 million at the end of May, or the equivalent of 3.7 months’ supply at the current monthly sales pace.

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 residential properties continue to expand our inventory. Prices on older listings are coming down. People are still coming. 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 June were as follows:

HOMES: 64↑ homes listed ($250,000 to $7,995,000); 15↑ pending sales ($289,000 to $2,255,000); and 29 homes have sold in 2024 ($295,000 to $1,235,000), totaling $18,841,500, at 8% of list price.
MULTI-FAMILY: 7↑ listings ($575,000 to $2,800,000); 0 pending sales; 1 sold in 2024 ($830,000) at 98% of list price.
LAND: 138↓ vacant lots listed ($25,000 to $7,800,000); 8↑ pending sales ($15,000 to $1,300,000); and 28 lots have sold in 2024 ($5,000 to $1,250,000), totaling $6,858,500 at 9% ↑ of list price.
COMMERCIAL: 11↑ commercial properties listed ($215,000 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 ($7,950,000 to $13,750,000); 0↓ pending sales, 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…. The Gravelly Range has one of the most unique profiles of all the mountain ranges in Montana? With at least 100 named mountain ranges and sub-ranges in Montana, all with their own indefinable characteristics, a view from most places in the upper reaches, in all compass directions, gives the range one of its most distinctive traits. The Gravelly Range defines the western boundary of the Madison Valley and is located in the Beaverhead-Deerlodge National Forest. The “Gravellies” span 310,000 acres and border the Madison River Valley on the east, the Ruby River Canyon to the west, Centennial Valley on the south and the Greenhorn Range touches its northern reach. Black Butte, its highest point, stands 10,542 feet tall. Other prominent peaks include Big Horn Mountain, Baldy, and Gold Butte. https://www.naturescourse.com/experience/black-butte/. This often-forgotten mountain range holds diverse landscapes, wide-open subalpine grasslands, coniferous forests, and when in season, wildflowers of every color of the rainbow. The Gravelly Range is also known for light foot traffic, little road access, and superb habitat for a wide variety of wildlife. The upland region is home to elk, grizzly bears, moose, tiger salamanders, and bald eagles. It is accessible by the Gravelly Range Road. Forest Service maps are available at Shedhorn Sports.

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!”

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