August 2024

MADISON VALLEY AUGUST “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? → Shedhorn Sports held their 27^th annual “Hunters’ Rendezvous.”  → The 25^th Annual Noxious Weed Fund Raiser, sponsored by the MV Ranchlands Group Weed Committee, was hosted by the Hollow Top Angus Ranch in Pony. → The VC Preservation Alliance hosted the Linderman Cabin Series and the Grand Victorian Ball. → Big Horn Sheep was the subject of a Wildlife Speaker Series.  → The MV Medical Center celebrated 75 years of health with The Madison Festival, at the Madison Double R Fishing Lodge.  → The Madison County Fair was held in Twin Bridges. →The Madison Valley History Assoc. sponsored a Field Trip tour of the Talc Mine. → The Hebgen Lake Earthquake Visitors Center held a 65^th anniversary celebration. → The 11^th Annual Montana “Ride to Remember” again came through Ennis on their way to West Yellowstone. → The Ennis Arts Association sponsored a Garden Tour and An Evening of Art. → Virginia City held a Gold Rush 5K & Duck Race and a Labor Day Horseback Poker Ride.  → There were more concerts at the Elling House and Live Music Series events at the Dusk at Disco Park in VC.  →  The Ennis MT Pickleball Club hosted a Pickleball Tournament. → Baroque Music Montana performed a concert in the historic St. Paul’s Episcopal Church in VC. → The annual Fly Fishing & Outdoor Festival was held in Peter T’s Park, as well as the Summer Music in the Park Series. → The Jack Creek Preserve held a Woman’s Wilderness Retreat. → The Madison Theatre featured more great movies and live events. → The outdoor Cowboy Church was held on Sundays near Virginia City.  →  Stage 2 Fire Restrictions.    → Shop small; shop local; shop Ennis!

MADISON VALLEY SEPTEMBER “HAPPENINGS” → The Brewery Follies and the Virginia City Players gave their last performances of the season, on the 1^st.  → The Bozeman Symphony will perform at 4:00 PM and the Montana Shakespeare in the Park will perform “A Winters Tale,” at 5:00 PM, on the 7^th,  at Pony Park, in Pony.  → Sign up for the Brewery 2 Brewery Auto Tour, starting at 1:00 in Virginia City on the 8th.  Call for info. (800) 829-2069 x6.  → Sign up for a benefit Golf Tournament on the 8^th at: https://www.madisonmeadowsgolfcourse.com/. → Enjoy Miners Days in Virginia City’s  Discovery Park on the 21^st, and the Fall Festival on the 28^th.  → 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” → Enter the raffle to win an Elk Hunt! RAFFLE – 2025 Archery Elk Hunt — Jack Creek Preserve Foundation  → The Jack Creek Preserve will hold a Fall Wonders Field Day on Oct. 5^th.  → The Hunters Feed from 3-5 PM on Oct. 25th.  →  A Children’s Halloween Carnival in VC, on Oct. 26^th.  →The annual Ennis Christmas Stroll will be held on Dec. 6th. → A new Scottish-style golf course is being built near the Big Hole River, near Twin Bridges – opening June 2025! → A new Yellowstone spin-off series is slated to be filmed in the Madison Valley.  Titled, “The Madison,” the series will star Michelle Pfeiffer, and the plot picks up where Yellowstone ends.  Locals wonder if this production will affect the Madison Valley the way the Yellowstone series affected the Bitterroot Valley.  Check it out at:  https://deadline.com/feature/the-madison-news-taylor-sheridan-1236071619/.

MONTANA NEWS → Yellowstone National Park has approved a new plan for Bison Management, allowing more bison to be transferred to Tribal Nations. https://montanafreepress.org/2024/08/20/yellowstone-national-park-plan-sets-the-stage-for-bison-expansion-in-montana/. → There are 45 active wildfires still burning in Montana, making for smoky skies and reduced air quality.  More at: https://www.mtfireinfo.org/pages/current-fire-info. →  Despite their importance, a Ninth Circuit ruling has significantly hindered the Forest Service’s ability to utilize categorical exclusions in many western states, severely impeding the agency’s capacity to carry out forest restoration efforts.  More information at:  https://frontierinstitute.org/from-plans-to-reality-the-vital-role-of-categorical-exclusions-in-forest-restoration-projects/. → Montana farmers are fighting for more funding to protect agriculture production, and with that, national food security.  The Agriculture Improvement Act of 2018, referred to as the Farm Bill  – is a crucial safety net for U.S. agriculture producers and it is up in the air again, with its fate unknown.  https://www.kpax.com/news/montana-ag-network/montana-ag-network-the-state-of-the-u-s-farm-bill.

FISHING REPORT → Wow! What a summer it has been!  Good flows of cold water on the Upper Madison have made this a summer to remember.  The dry fly fishing has been as consistent as I can remember.  Fish looking up all summer.  We are now staring at the end of the summer party and looking into my favorite time of the year.  I always tell folks I hope God made Heaven to look like Montana in September.  What is not to love about September?  Cooler weather, cold water, hungry trout, less crowds on the river and Main Street, elk singing in the high country, the first dusting of snow on the peaks and a color show with no match.  This is my favorite month.

If you’re here the beginning of the month, we are still in summer mode.   Hoppers and ants rule the river.  Fish these in the afternoons, once things warm up.  We have been doing better on 4X tippet than 3X.  Clear water means thin to win.  If you search around for live hoppers, you will see lots of small ones.  Not sure why they did not grow up this year,  but small hoppers are the norm right now.  We like small hoppers and chubbies, in the size 10-16 range.  We like pink, peach, and natural colors.   Trail these with a dropper in the morning to get things started.  Tiny and shiny on the dropper.  Spankers, French Dippity, and lightning bugs will all catch fish.

As the month rolls along, we will see our first fall or winter front.  This is usually mid-month.  I like to call this the equinox storm.  This will change the game on the Madison River.  Before the storm it will be summer, any time after that will be fall.  After this happens and the biomass of insects get frozen, the fish turn to eating the little fish.  This will kick off the fall streamer season.  Sculpins, minnows, and the like will all be on the target list.  Grab your 7 wt., and let’s get to work.  This is when the big fish of the river start to show up.  This is coming, so be ready.

September is the month to relish in all that is great about Montana.  Get out and enjoy the sun on your face and some good fishing.  Remember winter is right around the corner, making every day in September twice as sweet.   Lots of end-of-summer sales are going on at the store – 30% off all foam dry flies including hoppers, stone flies and chubbies, along with 30% off fishpond nets and all summer sun shirts.  Get in and stock up. 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!

Watch “The Rocky Mountain Fly Highway” on Amazon Prime

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 → August was still pretty warm, but with more moisture than usual so the grass is still green!  The daytime high in August was 94° and the daytime low was 72°.  The nighttime high was 61°,  with a nighttime low of  36°.  The skies were still smoky, on and off, as fires continue throughout the west.  Fire restrictions are in place.  Remember Smokey the Bear!

REAL ESTATE TIPS → UNSOLICITED OFFERS ON LAND. Landowners are beginning to receive more and more offers in the mail from people offering to buy their land.  In the past, letters might have been from someone seriously interested in buying your land.  But there is a new game in town.  Property owners still get letters, and they may even look similar to the ones you used to get.  But now that person may have no money and no real intent to buy your property.  Wholesalers have entered the real estate game and have sent out thousands of letters with no intent to buy!  It is NOT in your best interest to accept an offer from a wholesaler.  Sellers Beware! There are far better alternatives!  According to Tammy Tengs, here is why:

1. Real estate wholesalers are not buyers. They just get your property under contract at a below market price, advertise it at a higher price, then find a real buyer for more money, and pocket the difference.
2. Wholesalers don’t market land thoroughly. They don’t own the land, just the right to buy the land.
3. Wholesalers often require long escrows and long contingency periods. Time to find a real buyer.
4. Wholesalers rarely submit a deposit. Most of these deals are cancelled when no buyer is found.
5. Wholesalers often try to renegotiate the deal. They may not be able to find a full-price, cash buyer.
6. Wholesalers may not close escrow. They usually cancel because they can’t find an end-buyer who will pay more, and they don’t have the cash to close the deal.  They don’t want the real estate!
7. Wholesalers cause high days-on-market which taint a property, and these show up on listings.
8. Wholesalers can create legal liability for the seller. Undisclosed material facts lead to lawsuits.
9. Wholesalers make low-ball offers. The seller can usually get at a higher price using an agent.
10. Wholesalers make high-ball offers. This ties up the property with no chance of being sold.

For more details on this scam and the dangers, go to:  https://medium.com/@tammy_56971/10-reasons-why-land-sellers-should-not-accept-offers-from-real-estate-wholesalers

HOME FOR YOUR SOUL. FEATURED PROPERTY OF THE MONTH → PREMIER 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,  Reduced to $849,900.  MLS # 384157.  GoogleEarth Coordinates at building site:  44.849952°, Lon. -111.540970°, Elevation 6,059’.  My Active Listings – Toni Bowen (erarealestate.com),  Home – Toni Bowen (erarealestate.com)

REAL ESTATE NEWS → WASHINGTON (August 22, 2024) – Existing-home sales improved in July, breaking a streak of four consecutive monthly declines, according to the National Association of REALTORS®. Three out of four major U.S. regions registered sales increases while the Midwest remained steady. Year-over-year, sales rose in the Northeast and West but retreated in the Midwest and South. Total existing-home sales ascended 1.3% from June to a seasonally adjusted annual rate of 3.95 million in July. Year-over-year, sales fell 2.5% (down from 4.05 million in July 2023).  “Despite the modest gain, home sales are still sluggish,” said NAR Chief Economist Lawrence Yun. “But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates.”

Total housing inventory registered at the end of July was 1.33 million units, up 0.8% from June and 19.8% from one year ago (1.11 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from 4.1 months in June but up from 3.3 months in July 2023.  The median existing-home price for all housing types in July was $422,600, up 4.2% from one year ago ($405,600). All four U.S. regions posted price increases.

Regional Breakdown – Existing-home sales in the Northeast in July climbed 4.3% from June to an annual rate of 490,000, an increase of 2.1% from July 2023. The median price in the Northeast was $505,100, up 8.3% from last year.  In the Midwest, existing-home sales were unchanged in July at an annual rate of 920,000, down 5.2% from the previous year. The median price in the Midwest was $321,300, up 4.5% from July 2023.  Existing-home sales in the South increased 1.1% from June to an annual rate of 1.79 million in July, down 3.8% from one year before. The median price in the South was $372,500, up 2.3% from one year earlier.  In the West, existing-home sales rose 1.4% in July to an annual rate of 750,000, also up 1.4% from a year ago. The median price in the West was $629,500, up 3.4% from July 2023.

Pending Home Sales in July retreated 5.5%, according to NAR.  All four U.S. regions posted monthly losses in transactions. Year-over-year, the Northeast rose while the Midwest, South and West registered declines.  The Pending Home Sales Index (PHSI) slipped to 70.2 in July, the lowest reading since the index began tracking in 2001.  Year over year, pending transactions were down 8.5%. An index of 100 is equal to the level of contract activity in 2001.  “A sales recovery did not occur in midsummer,” said NAR Chief Economist Lawrence Yun. “The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election.”

Pending Home Sales Regional Breakdown – The Northeast PHSI waned 1.4% from last month to 64.6, an increase of 2.4% from July 2023. The Midwest index reduced 7.8% to 67.8 in July, down 11.4% from one year ago.  The South PHSI sank 6.5% to 83.5 in July, falling 11.5% from the prior year. The West index shrunk 3.8% in July to 56.2, down 6.0% from July 2023.

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: Very few new listings, fewer pendings sales, and prices on older listings are still coming down. The lull is expanding, as buyers ponder the markets, (stock & real estate), interest rates, and the election.  It may be time for buying opportunities!  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 August were as follows:   

• HOMES: 80↑ homes listed ($250,000 to $10,000,000); 8↓ pending sales ($425,000 to $3,650,000); and 50 homes have sold in 2024 ($282,000 to $2,255,000), totaling $35,225,500, at 8%↓  of list price.
• MULTI-FAMILY: 6 listings ($850,000 to $2,800,000); 0 pending sales; 1 sold in 2024 ($830,000) at 6% of list price.
• LAND: 132 vacant lots listed ($7,102 to $1,089,000); 11↑ pending sales ($15,000 to $1,250,000); and 44 lots have sold in 2024 ($5,000 to $1,250,000), totaling $22,150,900 at 8% ↓ 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 90.6% 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…. Starting in the late 1800s, copper was discovered in Butte, quickly propelling the fledgling city to national importance and dubbing it the “Richest Hill on Earth”? The large copper deposits fueled America’s industrial revolution, helping Butte to earn its reputation as “the town that plumbed and electrified America.” By 1896, Butte was producing 26% of the world’s copper supply. The city’s mineral wealth eventually grew so large that new immigrants to America recounted being told, “Don’t stop in America, go straight to Butte!” This trend continued well into the 20th century, as Montana’s minerals became instrumental in both WWI and WWII.   With a reputation that precedes it, Montana proudly earned the nickname “The Treasure State”. For nearly 100 years, that title went unchallenged, but that all changed at the dawn of the 21st Century. Despite the increasing importance of minerals, ever cleaner mining techniques, and an abundance of deposits to pull from, Montana slowly lost its long-held position to nations like China.  Now, with greater skepticism towards maintaining our reliance on adversarial nations with few environmental protections, a massive increase in demand for energy in America, and a looming technological boom that will be reliant on critical minerals, eyes have once again turned back to Montana. Read more at:  https://frontierinstitute.org/reports/montana-2050-critical-minerals/.

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!”