MADISON VALLEY FEBRUARY “HAPPENINGS” → What’s happened in Ennis, the Basecamp of the Madison Valley? → There was a Business Owners’ Bowl Off at the Ennis Fish Bowl. → Ennis Lions Club hosted a Texas Hold ‘em Poker Tournament with a Silent Auction. → Big Sky held their Best in the West Skijoring contest. → Dillon’s Woman’s Resource Center held a Soiree at The Stockman in Sheridan. → The Madison Valley Ranch served a fabulous Valentine’s Day Wine Pairing Dinner. → The Jack Creek Preserve held a Winter Outdoor Skills Camp. → At the 2025 MT Beer Awards, the MT Brewer’s Assoc. awarded 2 silver medals to Burnt Tree Brewing (at the Gravel Bar). → The Madison Valley Ranch featured a gourmet BEER Pairing Dinner with beers from Burnt Tree Brewing! → The Madison Valley History Assoc. presented a program of “Tall Tales” from local “old timers.” → So, this was a pretty busy month, for the usual “quiet” winter season! Ennis doesn’t roll up the sidewalks anymore!

MADISON VALLEY MARCH “HAPPENINGS” → Missoula’s Children’s Theater will perform “Alice in wonderland” at the Ennis Schools. → West Yellowstone is hosting a Cross-Country Ski Race on the 8^th. Yellowstone Rendezvous Race. → The Elling House and Humanities Center in Virginia City will hold a Chautauqua and a Youth Art Show, on the 15^th, plus more events every month. http://www.ellinghouse.org/ → Sign up for A Day in the Life of a Naturalist – Winter, to be held on the 15^th, at https://www.jackcreekpreserve.org/events. → March 17^th is St. Patrick’s Day and the birthday of the founder of Ennis, William Ennis, who was born in Ireland in 1828. → And you can still go river or ice fishing, disc golfing, skiing, x-country skiing, snowmobiling, bowling, visit the library, do yoga, go to the gym, take exercise classes, have a facial & a massage, see a movie, or eat, drink, stroll through Ennis,  and  go  shopping!  Extend  your  visit,  and  JUST  DO  IT  ALL!

FUTURE “HAPPENINGS” → The Elling House & Humanities Center in Virginia City will continue the Chautauqua Winter Series April 29^th. http://www.ellinghouse.org/. → Virginia City displays open May 1^st. https://virginiacity.com/events. → Tap into Ennis, May 17^th. → 4^th of July Parade. → 14^th Annual Madison Triathlon on July 5^th. → Madison Duathlon (Run/Bike/Run Race) July 6^th at Lion’s Park → Madison River Foundation’s Annual Fundraising Gala, on July 12^th. https://www.madisonriverfoundation.org/. → The 29^th Annual Madison River Run “Water to Whiskey” 5K on July 19^th. → Home Tour sponsored by the Madison Valley Medical Center Foundation on July 19^th. → Madison Marathon on July 22^nd. → Summer Music in the Park. →The 29^th Annual Madison Valley Arts Festival on July 26^th. → Trout Rodeo (Can’d Aid fundraiser) with flyfishing and Bluegrass concert at the Burnt Tree Brewing, on August 1^st. → Fly Fishing Festival? → Hunters Feed, Oct. 24^th. → Shop Small Ennis, Nov. 28^th & 29^th. → Christmas Stroll. → And conversations continue re: a Resort Tax & Community Center for Ennis, & if Big Sky can withdraw tax $. (www.supportMadisonValley.com)!

MONTANA NEWS → On March 1, 1872, Yellowstone National Park became the first national park in the S. and the world’s first national park! Created for “the benefit and enjoyment of the people,” it hosted 4,744,352 visitors in 2024, which was the second highest number of visitors in the park's history. → Montana lawmakers are attempting to build a framework for the usage of artificial intelligence in the state. Senate Bill 212 would establish the Right to Compute Act, which seeks to protect the individual use of AI, to allow small innovators and anyone else that wants to use AI for their own purposes, without discouraging larger companies who may want to set up shop in Montana.→ Butte*, Havre, Sidney, Wolf Point and Lewistown, are all towns in Montana which are losing population! There might be some good real estate bargains to be found in those places!

FISHING REPORT → National Optimism Month has Yes, it is true, a month named after the Roman god of war, is National Optimism Month, a time to focus on the power of positive thinking! I like it. Don’t believe me? Just Google it! Optimism best sums up what’s happening now. The weather is getting better by the day; daylight is increasing; and on the 20^th, Daylight Savings Time kicks in! Why we ever switch the clocks back, I do not know. I like March. It is all about to happen and this is the warm-up period. A few other interesting facts to keep in mind: March 1 is Peanut Butter Appreciation Day. I love peanut butter. It is also Mad for Plaid Month. I wear a lot of plaid. March might just be the perfect month, even for fishing.

Our snow pack is currently looking good and in the 95% range. Keep the snow dance coming and we will end up with lots of dry fly days this summer. If you’re looking to fish now, there are options. Great spring nymph fishing, with eggs, worms, stone flies and midges, happening daily on the Madison River near you. This will only get better as the month rolls along. We should see some good dry fly fishing by the end of the month, on midges and the start of spring mayfly hatches.

The river has gorged, and the Valley Garden access and the Ennis Town access are both closed. These will be closed for a while to let the ice melt and for FWP to get in there and fix the mess. Ice banks 6 ft tall still line the river in this section. Lots of other great places to fish. It’s a big river out there.

New gear and bugs arriving in the shop daily. Stop by and check out all the new stuff. We like talking, are always optimistic, and probably wearing plaid. We are “Marched” out. Get Marched out yourself and go fishing. Spring is here and there is no better place than The Cultural Epicenter of Trout for the next 7 months. 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 → February came in like a polar bear and went out like a proverbial lamb, with sunny skies, no wind and high temperatures! It was just a “tease,” and might be called a “false spring,” as we are bound to have more winter No planting until after Memorial Day! The daytime high in February was 58° and the daytime low was 5°, with a nighttime high of 35° and a nighttime low of -22°! We had 10 days of snow.  The Madison basin snowpack is at 95%. Check out Big Sky Snow conditions: https://www.bigskyresort.com/current-conditions. https://mslservices.mt.gov/geographic_information/maps/watersupply/statewide/StatewideSWE.aspx.

REAL ESTATE TIPS → USING YOUR PROPERTY FOR SHORT-TERM RENTALS. Many localities in areas across the country are considering or adopting ordinances that limit or prevent the ability of property owners to rent out properties on a short-term basis. The dynamics of this issue are complex. The infringement upon property rights is a common theme when local governments limit the use of property. Property ownership includes the right to gain income from property, whereas local governments are granted the legal authority to regulate land use within their jurisdiction by police powers and/or zoning regulations. A recent bill by the Montana State Legislature has placed key Airbnb laws in place, allowing individual counties to make laws that best fit their circumstances. Several municipalities have taken advantage of these new guidelines and passed additional regulations for their own cities. Popular tourist destinations like Bozeman now require short-term rentals to register with the city as well as the state. So, if you are considering purchasing property in Montana and hoping to rent it out to offset the property costs, be aware of the rules. In order for a short-term rental to operate, an owner must follow the following requirements:

• Short-term rental hosts are required to register with the Montana Department of Public Health and Human Services for a Public Accommodation This is in addition to any permits that a county may require.
• All hosts must provide access to potable water, wastewater disposal, hygienic amenities—showers, laundry, etc.—and maintain high standards of cleanliness and maintenance.
• A guest registry must be kept and maintained for at least a year after a guest’s
• Short-term rentals are also required to pay the two lodging taxes to the state, as well as any local taxes

HOME FOR YOUR SOUL. FEATURED PROPERTY OF THE MONTH → 20 “VIEW” ACRES BORDERING NATIONAL FOREST! A perfect setup for vacations in your RV or temporary living while building your dream home or cabin on this beautiful lot. End-of-the-road privacy and spectacular views from this property, in a hunter’s paradise. Plus, world-class fishing nearby on the Madison River and numerous lakes. The property is set up with 115V power, 30-amp connection outlet, a Generac generator, 250 gal. propane tank, well and septic system! Located in the Raynolds Pass area of Madison Valley, an hour south of Ennis and a half hour from Yellowstone National Park. Buffalo Lance, Parcel 25. $449,000, with possible owner financing! MLS # 399855. https://www.eralandmark.com/listings/view/399855. Google Coord.: Lat. 44.739428°, Lon. -111.478524°, Elevation: 6,732’. My Active Listings - Toni Bowen.

NATIONAL REAL ESTATE NEWS → WASHINGTON (February 27, 2025) – Pending home sales pulled back 4.6% in January according to the National Association of REALTORS®. The Midwest, South and West experienced month-over-month losses in transactions – with the most significant drop in the South – while the Northeast saw a modest gain. Year-over-year, contract signings lowered in all four U.S. regions, with the South seeing the greatest falloff. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – fell 4.6% to 70.6 in January, an all-time low. (Last year's cyclical low point in July 2024 was revised from 70.2 to 71.2.) Year-over-year, pending transactions declined 5.2%. An index of 100 is equal to the level of contract activity in 2001.

"It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months," said NAR Chief Economist Lawrence Yun. "However, it's evident that elevated home prices and higher mortgage rates strained affordability." Housing affordability suffered in January as mortgage rates ranged from 6.91% to 7.04%. Compared to one year ago, the monthly mortgage payment on a $300,000 home increased by an extra $50 to $1,590.

Pending Home Sales Regional Breakdown -The Northeast PHSI rose 0.3% from last month to 63.4, down 0.5% from January 2024. The Midwest index contracted 2.0% to 72.8 in January, down 2.7% from the previous year. The South PHSI plunged 9.2% to 81.0 in January, down 8.8% from a year ago. The West index fell by 1.2% from the prior month to 57.6, down 4.5% from January 2024. "Even a slight reduction in mortgage rates will likely ignite buyer interest, given rising incomes, increased jobs and more inventory choices," added Yun.

Existing Home Sales fell 4.9% month-over-month to a seasonally adjusted rate of 4.08 million in January 2025. Year-over-year, sales improved 2.0%. According to NAR Chief Economist Lawrence Yun, "Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve. When combined with elevated home prices, housing affordability remains a major challenge."

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:I have never been THIS busy at THIS time of year! Not sure what this means for the market going forward for the year, but it is really heating up, in our area. There are more residential and land listings, so more to choose from. Prices are coming down and interest rates are coming down, so it should encourage more buyers to wade in and test the water! I am hearing from more young, first-time homebuyers, who really appreciate working with an experienced professional. There is still time to find some bargains, before our busy summer season begins. 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 February were as follows:

• HOMES: 45↑ homes listed ($250,000 to $7,995,000); 8↓ pending sales ($250,000 to $3,650,000); and 10 homes have sold in 2025 ($250,000 to $675,000), totaling $5,645,000, at 97.5%↓ of list price.
• MULTI-FAMILY: 3 listings ($1,789,000 to $2,700,000); 0 pending sales; 0 sold in 2025. (This would indicate that multi-family units are not great investments in this area.)
• VACANT LAND: 94↑ lots listed ($7,102 to $3,000,000); 9↑ pending sales ($79,000 to $895,000); and 6 lots have sold in 2025 ($150,000 to $550,000), totaling $1,797,000, at 98.1% ↑ of list price.
• LAND w/STRUCTURE: 7 lots w/structures listed ($269,000 - $1,998,000); 0 pending sales; 1 lot w/structures sold in 2025 ($400,000), at 95.5% of list price.
• COMMERCIAL: 3 commercial properties listed ($525,000 to $2,050,000), 0 pending sales; and 0 commercial properties have sold in 2025.
• RANCHES: 1 ranch listed, ($12,500,000), 0 pending sales, and 0 ranches have sold in 2025.

“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… in 1905, Butte*, Montana was the largest producer of copper in North America and rivaled in worldwide metal production only by South Africa? The large amounts of ore produced in the city earned it the nickname, “The Richest Hill on Earth”! In 1888 alone, mining operations in Butte generated an output of $23 million (equivalent to $804,914,815 in 2004) worth of ore! Butte also established itself as one of the largest copper boom towns in the American West, and “one of the most solid union cities in America.” It is also the site of the largest hard rock mining disaster in world history – The Speculator Mine Disaster of 1917. Butte also has the largest population of Irish Americans per capita of any U.S. city. In the late 1990’s, Butte was recognized as an All-America City and as one of the National Trust for Historic Preservation’s Dozen Distinctive Destinations in 2002.