October 2024

MADISON VALLEY OCTOBER “HAPPENINGS” → → What’s happened in Ennis, the Basecamp of the Madison Valley? → “The Madison” crew was filming in downtown Ennis! → The Jack Creek Preserve held their Fall Wonders Field Day.  → Virginia City held their Golden Gavel Grinder Bike Fest  and their October Fest at the Bale of Hay Saloon! → The annual Hunters Feed was a HUGE success, with perfect weather and lots of folks, from far and wide, enjoying all the great wild game dishes.  There were many adult beverages consumed as well! → The VC Elks Lodge hosted a Children’s Halloween Carnival, and the Ennis Lions Club hosted their annual Halloween Carnival and Bingo.  → There was a tour of the Beaver Conflict Resolution Project at Three Dollar Bridge. → Property owners attended a Land Stewardship Workshop for Small Acreages. → Many followed a Walking History Tour of Main Street Ennis. → There was a Fall Harvest Party in Laurin. → Many felt the 4.1 magnitude earthquake NE of Dillon. → October 4^th was a sad day when the McAllister Inn burned to the ground.  An historic landmark since the late ‘30’s, this popular establishment will be sorely missed, and many wonderful memories treasured. → Witches had a Night Out in Ennis.  → The new Ennis Home Furnishings store has opened in the former Madison Foods building, with a wonderful showroom and lots of inventory. → The Madison River Foundation held their Annual Trout Rescue, transporting approximately 4,000 trout from the West Madison Canal back into the Madison River!  → General hunting season has begun!

MADISON VALLEY NOVEMBER “HAPPENINGS” → MADISON VALLEY NOVEMBER  “HAPPENINGS” →  The Madison Valley Ranch is hosting one of their incredible wine pairing dinners on the 1^st and 2^nd. → The 5^th Annual Mulex Cyclocross Race at Lions Club Park on the 2^nd. → Day of the Dead Party at the Gravel Bar on the 2^nd. → Trivia Night, on the 6^th, and every Wednesday night, at Ruby Valley Brew in Sheridan. → Fall Feed at the VC Elks Lodge on the 8^th, with dinner, drinks & dancing! → The annual U. S. Marine Corps Birthday Celebration will be held on the 10^th, at Willie’s Distillery. All military branches welcome! https://usmc-birthday-committee.square.site/ Seats limited, reserve early! →  There will be an Author Evening, at 5:30 PM on the 14^th at the Madison Valley Public Library, with local author, Karen McMullin, discussing her new book, Love Wins: A True Story of Tragedy, Heroes, and Healing in Small Town Montana. → West Yellowstone will host their annual Ski Festival, the 26^th – 30^th. https://www.skirunbikemt.com/yellowstone-ski-festival/home. → The Ennis Senior Center will again host the HUGE annual Holiday Bazaar at the Ennis Elementary School on the 30^th. →  Shop Small Weekend will feature the Ennis Businesses ~ the 29^th and 30^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” → Ennis Christmas Stroll will be held on Dec. 6th. → MT FWP has proposed to the Madison Co. Commissioners to relocate Bighorn Sheep, 20 to 50 at a time, to the Bear Creek Wildlife Management area, east of Cameron.  https://fwp.mt.gov/binaries/content/assets/fwp/montana-outdoors/bighornsheep.pdf.  →  Splurge and sign up for one of the fabulous wine pairing dinners at the Madison Valley Ranch in Jeffers, at:  https://www.madisonvalleyranch.com/wine-dinners-montana, December 13 & 14, and February 14 & 15. → It gets pretty quiet here during the winter!  A time to rest and catch our breath, after our whirlwind summers!

MONTANA NEWS →  → Montana’s population has increased 38% over the last 40 years, and the number of registered voters increased 75%, with 3 out of every 5 identifying as Republicans. → Bozeman Yellowstone International Airport just received a $10 million investment for Terminal improvements.  https://bozemanairport.com/airportterminalprogramgrant. → Bozeman is the fastest growing city in Montana. Bozeman’s population has increased by more than 50% since 2010. In 2018, it was named the fastest-growing US city of its size! Why?  With some of the biggest skiing in America just an hour away, some of the best fly fishing in the world, hundreds of thousands of acres of public land within a short drive, and some of the best ice climbing destinations in America – it’s easy to see why Bozeman is an outdoor enthusiast dream. → Tim Sheehy is our new senator from Montana, beating incumbent, Jon Tester.

FISHING REPORT → November is the month of my favorite holiday, Thanksgiving.  What other days of the year can you sit around and eat a great meal, not have to buy gifts for anyone, no parades in town or other expectations.  Just a relaxing holiday centered around some rest, family and food.   If you are in Ennis from out of town, in November, you are probably hunting.  Rifle season for big game and ducks, geese upland birds and pretty much anything you want to hunt is open.   While most locals are bathing in the blood of wild wapiti, there are still some fish to be had.  Good news is almost everyone else in Montana will be watching football or chasing tasty critters to shoot.  The river is lonely right now.

The brown trout are in major spawning mode, along with the whitefish.  November might just be the “sleeper” month for big fish.  Keep a lookout for brown and whitefish redds along the shallow gravel patches.  Cleaned gravel is a sure sign. If you see one of these, move along and let the fish do their thing.  Right now, streamers will entice large brown trout as they are angry from spawning and want to remove any other fish from their zone.  These are aggressive strikes.  If you’re a streamer guy or just want to catch your personal-best brown trout, now just might be the time to get after it.  Also remember the eggs in the soup. Whitefish eggs are especially vulnerable as they are broadcast spawners.  Small cheese or yellow eggs floated dead drift will get eaten.  But pick your day.  We can see some nasty weather in November, but also some darn nice days.  Fish on the nice days and duck hunt on the nasty ones.

The question of the month is, “Have you gotten your elk yet?”   For those who have not, get after it.  There is nothing better than having elk steaks, all winter long!   We are seeing some good hunting weather with quite a bit of success already.   Christmas season is just around the corner.  Shop local this year.  If you’re from out of town, your local fly shop will ship to anywhere.  It is a green way to support small, rural, family-owned businesses.  In fact, keep checking the website for the 12 Days of Christmas deals to start shortly.  Save money and support a local business.  The lights might just stay on ‘till spring.  Stop in the store for even better deals for all the fisher men & women on your list.   How about Tackle Shop gift certificates in everyone’s stockings this year?  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 →WEATHER → October was our schizophrenic transition month!  The first few weeks were absolutely wonderful!  It was the best of Fall weather, and my tomato plants were still ripening in the sun!  Then we had our winter tease, going from 78° one day and down to 46° the next!  But we can’t complain.   It is a beautiful time of year.  The golf course has covered the greens for the winter (to keep the elk from tearing them up!) and the disc golfers are now enjoying the course. The daytime high in October was 84° and  the daytime low was 46°.  The nighttime high was 44°,  with a nighttime low of  27°.

REAL ESTATE TIPS → WHY WORK WITH A “LOCAL” REAL ESTATE PROFESSIONAL? Before choosing a REALTOR®, decide on your area of interest.  That could mean, the region, state, area, county, city, town, location, right down to the neighborhood.  A local Realtor will provide buyers with valuable insights into market trends, dynamics, politics and information, helping you make better, informed decisions.  A local agent would have many advantages over one not familiar with your area of interest, and would:

1. Be able to call out things, big and small, that they love about the area, to give you a well-rounded view of why it would be a great place to call home.
2. Have an understanding of the local market, ensuring buyers they will be making an offer that is both fair and competitive.
3. Would be familiar with all the different corners of the area or town and could guide you to the best fit, depending on your wants and needs.
4. Know enough about local restaurants, bars, clubs, churches, hiking trails and shopping, etc. to give you an insider’s view of the area.
5. Be on top of local news, city and county issues, and what changes might be expected that could impact the community and real estate values in the future.
6. Be able to share some of the area’s history, how the town came to be and when it was founded or built.
7. Have a handy list of local resources to share, such as: lenders, inspectors, contractors, attorneys, movers, landscapers – who to call for what! A very valuable resource!

When your real estate professional knows the area inside and out, it builds trust, and you’ll be more likely to rely on their recommendations.  This provides more peace of mind, which makes the entire homebuying process more rewarding.  The best local Realtor will become your friend and “concierge” with answers to your on-going questions and needs.

HOME FOR YOUR SOUL. FEATURED PROPERTY OF THE MONTH → 21 ACRES WALKING DISTANCE to the MADISON RIVER! The best bargain in the valley!  This lot is across the road from the BLM land bordering the Madison River, giving you access to great fishing!  Power runs along the road past this lot and there is fiber optic cable in.  All lots require a well and septic. This lot is on the lower level of the Sphinx subdivision where wells are approximately 150’ deep.  The covenants require a primary residence to have at least 1,200 SF of living space and no more than 7 acres may be permanently fenced, to maintain a “wildlife friendly” area.  No mobiles/modulars/mfg. homes allowed. There is no HOA at this time, but one may be set up in the future. Sphinx is strategically located in the middle of the Madison Valley with abundant access to hunting, fishing, snowmobiling, trail riding, hiking & exploring in the many mountains, rivers, lakes & public lands. Sphinx is just 15 miles south of Ennis & approximately 1-1/2 hours to the Bozeman airport & Yellowstone Nat. Park.  Sphinx Mountain, Lot 65, Cameron, MT 59720, $165,000. MLS # 397098. My Active Listings – Toni Bowen.

REAL ESTATE NEWS → WASHINGTON (October 23, 2024) – Existing home sales drew back in September, according to the National Association of REALTORS®. Three out of four major U.S. regions registered sales declines while the West experienced a sales bounce. Year over year, sales fell in three regions but grew in the West. Total existing home sales receded 1.0% from August to a seasonally adjusted annual rate of 3.84 million in September. Year-over-year, sales waned 3.5% (down from 3.98 million in September 2023).  “Home sales have been essentially stuck at around a four-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,” said NAR Chief Economist Lawrence Yun. “There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy. Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election.”

Total housing inventory registered at the end of September was 1.39 million units, up 1.5% from August and 23.0% from one year ago (1.13 million). Unsold inventory sits at a 4.3-month supply at the current sales pace, up from 3.4 months in September 2023.  “More inventory is certainly good news for home buyers as it gives consumers more properties to view before making a decision,” Yun said. “However, the inventory of distressed properties is minimal because the mortgage delinquency rate remains very low. Distressed property sales accounted for only 2% of all transactions in September.”

The median existing-home price for all housing types in September was $404,500, up 3.0% from one year ago ($392,700). All four U.S. regions registered price increases.  “Moderating home price increases are welcome news for home buyers,” Yun added. “With wage growth now outpacing home price appreciation, housing affordability will improve.”

Mortgage Rates – According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.44% as of Oct.17. That’s up from 6.32% one week ago but down from 7.63% 1 year ago.

Single-family and Condo/Co-op Sales – Single-family home sales edged lower by 0.6% to a seasonally adjusted annual rate of 3.47 million in September, down 2.3% from the previous year. The median existing single-family home price was $409,000 in September, up 2.9% from September 2023.  Existing condominium and co-op sales dropped 5.1% in September to a seasonally adjusted annual rate of 370,000 units, down 14.0% from one year ago (430,000 units). The median existing condo price was $361,600 in September, up 2.2% from the previous year ($353,900).

Regional Breakdown – Existing home sales in the Northeast in September retracted 4.2% from August to an annual rate of 460,000, down 6.1% from September 2023. The median price in the Northeast was $467,100, up 6.0% from last year.  In the Midwest, existing home sales slipped 2.2% in September to an annual rate of 900,000, down 5.3% from the prior year. The median price in the Midwest was $306,600, up 5.0% from September 2023.  Existing home sales in the South decreased 1.7% from August to an annual rate of 1.72 million in September, down 5.5% from one year before. The median price in the South was $359,700, up 0.8% from one year earlier.  In the West, existing home sales ascended 4.1% in September to an annual rate of 760,000, up 5.6% from a year ago. The median price in the West was $616,400, up 1.7% from September 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: I believe there is pent-up demand and that buyers will come back into the market.  Sellers who’ve been sitting on stale listings will be more negotiable and deals will be made.  With the new TV show filming here, demand and prices will probably go up again.   Big Sky Country Multiple Listing statistics for the Madison Valley area (including Ennis, Cameron, McAllister, Norris, Virginia City, Nevada City, Harrison, and Pony), for the month of October were as follows:      

•  HOMES: 71↓ homes listed ($250,000 to $10,000,000); 8↓ pending sales ($430,000 to $7,495,000); and 64 homes have sold in 2024 ($282,000 to $2,255,000), totaling $45,327,000, at 96.5%↑ of list price.
• MULTI-FAMILY:  7↑ listings ($850,000 to $3,150,000); 0 pending sales; 1 sold in 2024 ($830,000) at 97.6% of list price.  (This would indicate that multi-family units are not great investments in this area.)
• VACANT LAND:  114↓ lots listed ($7,102 to $990,000); 4↓ pending sales ($169,000 to $699,000); and 57 lots have sold in 2024 ($5,000 to $1,250,000), totaling $13,643,500 at 93.3% ↓ of list price.
• LAND w/STRUCTURE: 8↑ lots w/structures listed ($350,000 – $10,000,000); 0 pending sales; 5 lots w/structures sold in 2024 ($124,900 – $1,100,000), totaling $2,049,900, at 95.2% of list price.
• COMMERCIAL: 9↓ commercial properties listed ($215,000 to $3,150,000); 0 pending sales; and 1 commercial property has sold in 2024 ($553,300), at 92.6% of list price.
• RANCHES:  2↑ ranches listed ($7,850,000 – $12,500,000); 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… Pony, Montana, a near ghost town today, was once home to over 5,000 people? Hidden in the Tobacco Root Mountain Range, just 33 miles NW of Ennis, is the quaint little village of Pony.  It languishes in the beauty of the Deer Lodge National Forest at the base of Hollowtop Mountain.  Less than one hundred families live in Pony today.  It’s hard to imagine that during the gold prospecting days, over 5,000 people lived here.  Between 1860 and 1870, settlers coming west for the gold rush found this beautiful spot.  One was a man named Tecumseh Smith, nicknamed “Pony” because of his small stature.  He wasn’t even five feet tall!  He had done nothing for which others should remember him or his name.  He would pan enough gold to survive and move from camp to camp in the hope of finding his bonanza.  Legend has it that Pony was very frustrated with the lack of gold that he was finding, so he threw his pick, and it landed in a patch of wild strawberries.  Upon retrieval of the pick, he discovered gold where the pick had landed.  And that’s how the famous Strawberry Mine got its name.  Pony found a partner and together they worked their claim.  Apparently not given to steady work, he moved on.  All anyone remembered was that he responded to the name “Pony.”  Although vanished to other parts, he left his nickname attached to what would become a booming mining town.

Gold mining in Pony between 1870 and 1880 was profitable with over five million dollars in ore taken out.  An eastern syndicate believing a large deposit of ore was high grade, built a stamp processing mill. The ore body turned out to be low grade and consequently the massive mill never turned a wheel.  Parts of the foundation can be seen today as you drive through town.  The historic “brick office” is still standing and part of the town’s character and there are numerous mine sites above the town.  In downtown Pony, several of the old buildings still stand giving visitors just a hint of their past glory.  For photos of historic Pony, MT, go to:  https://npgallery.nps.gov/NRHP/GetAsset/e2e2f131-6753-4009-8b6f-4296d59561c2/

The Morris Bank boasted beautiful brick construction and is located at the corner of Pony Street and Broadway.  The Pony Hotel still stands, although stripped of its brick veneer.   Another attraction off of Broadway, is the city jail, a solid stone structure with the iron bars still on the windows.  The old Isdell Mercantile Company building still stands.  Pony Public School sits on the hill overlooking the valley and was once considered one of the finest.  The building is still used today for reunions, weddings and social functions. Another brick building on broadway is the Masonic Hall.  Many tourists stop to snap pictures of its unique cast iron front.  The lower part was a community dance hall.

Today, the only business left in town is the famous Pony Bar, a saloon that was built in 1864 and has been a destination for over 150 years!  The Pony Bar is a  wooden, Lincoln Logs-looking saloon with a wide porch made for sleepy dogs and tuckered-out cowboys.  The Pony Bar is a “MUST SEE” on every visitor’s list. Check it out at:  https://montanaponybar.com/.

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!”