Taunya Fagan Bozeman Real Estate Blog: Bozeman Montana Real Estate Listings

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World's Most Expensive House Nixed

Tim Blixseth, founder of the 14,300 acre private ski and golf, tightly-gated community, the Yellowstone Club, (which is being sold) has sold the private 160-acre, skiable chunk of land on the Club's property, nixing his plan to build the "Pinnacle," the world's most expensive home, at 53,000 square feet and priced at $155 million. The Pinnacle's plans, to be designed by Locati Architects, included a private ski lift to take skiers from inside the house to the top of the private, 2,200 skiable acre, 2,700 vertical feet, private ski area, boasting 400 inches of average annual snowfall and topping out at 9,860 feet. Pinnacle plans included a heated driveway and an indoor-outdoor pool with a retractable glass wall for summer and winter comfort.

 YC 53,00sq ft

Madison County, Montana Courthouse records indicate that Blixseth also faces three new lawsuits (with Greg LeMond, Michael Snow, and Boyne Ski Properties) related to landholdings in the Big Sky, MT region.

The complete Yellowstone Club is being sold for $455 millon; the sale's closing date is ~April 15, 2008. The purported new owner is Boston-based, private equity firm, Crossharbor Capital.

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Taunya Fagan Bozeman Real Estate   406.579.9683   taunya.fagan@prumt.com

The Benefits of Having a Billionaire For a Neighbor

Wade Dokken, owner and creator of the proposed Ameya Preserve development sold approximately 4,000 acres of his development to a neighboring landowner, Giorgio Perfetti, an heir to an Italian candy empire, which includes the popular Mentos mints.

The Ameya Preserve is an environmentally sensitive development, blending culture and ecology and is nature-centered, with music and cooking programs, dinosaur digging, a planeterium for star-gazing, and other activities. About 300 homes and commercial facilities are planned in the Bullis Creek drainage, four miles south of Livingston, Montana, in the beautiful Paradise Valley, home to movie stars and other prominent figures looking to escape the crowds.

Perfetti, the neighboring landowner in the Strickland Creek drainage, offered to buy because he didn't want to look at development from his own property, which is ensconced in the foothills and sports a unique airfield for landing his acrobatic planes.

The purchase wipes out a $13 million mortgage and a $6 million line of credit taken out for Ameya's development.

The Ameya property has a herd of several hundred elk and a variety of wildlife. Dokken hopes to start construction of some commercial facilities in the summer of 2008.

Taunya Fagan Real Estate in Bozeman Montana

A 360 Degree Perspective of Montana

Montana's will be looking to this website, Montana 360 Project, in the coming days to get new and unique visual perspectives of our beloved Big Sky state. The photos will open the door to the striking geography and distinctive people and highlight notable destinations, interesting history, rich culture, and singular personalities. The Bozeman Daily Chronicle hopes the combination of "cutting-edge technology" and "traditional journalism" will offer a new angle on Montana and all it has to offer.

Taunya Fagan Bozeman Montana Real Estate 

The Next Housing Boom is Coming

Almost 80 million Baby Boomers are heading toward retirement and will be traveling, socializing, enjoying sports, culture, music, and a host of other activites. Boomers are about the largest demographic change America has ever seen. This group has the will and the vast numbers to change the nation's idea of the meaning of "senior life." The seniors housing industry's major trade group warns of a likely shortage of long-term care properties. The NIC for Seniors Housing & Care stated investor estimates are too low for the number of long-term care properties that will be neccessary for this wave of retiring Boomers. For property investors, this means increased demand for assisted-living and skilled-nursing properties.

The first wave of Boomers hit in 2006 at the age of 60. Now, an estimated 8000 per day are hitting retirement, which will produce 34-35 million retirees by 2009. The high numbers are creating a "Gray Wave" that is sweeping across America, making immense changes in consumer and lifestyle choices. One big change happening now is where and how retiring Boomers plan to spend retirement. Who wants to give up secure surroundings and move when at the period in life when moving is difficult? Many Boomers are looking for alternatives that allow them to stay in familiar surroundings while dodging stresses involved in a move to a retirement facility.

The concept of a purposeful approach to growing old in one place is tagged as "aging in place." A better concept, and one more in keeping with Boomer's retirement ethos, is "Forward LivingTM," creating an environment with adaptive technologies for living in comfort, living independently, and living safely while aging, all the while staying at home and not having to move. 

Concomitantly with living longer at home and staying more productive than previous generations, there is a pending shortage in quality retirement facilities.  Present research identifies a critical and growing shortage in retirement and care facilities; there is no long-term forecast for how these shortages will effect Boomers. Living at home is, more often than not, the best and most peaceful way to grow old. The Christian Science Monitor recently stated seniors spend close to $2 trillion--a very large percentage of US economic activity, and it will only increase.

Investments in Senior Housing may be an excellent method to ensure your parents or you and your loved ones ride peacefully into the sunset.  

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 Montana Recreation - Montana Hunting - Montana Fishing

What a Difference a Zip Code Makes

In a down market like this location becomes an important issue. More than 6 millon will purchase homes this year and many because they must, due to relocation and other reasons. Buyers are getting savvier, and in this market they have been spooked and are thinking "resale" as they purchase their property; they want to be able to sell if the market continues to fall or they are transferred again.

Smart buyers are looking at zip codes within the region or city in which they want to live or must. Property close to schools holds it value compared to comparable property in the same area. Property with open space, minimal noise, walk-to amenities, and property in built out subdivisions hold their values better. The lack of a downturn in places like Boulder, Tempe, and Santa Barbara is due in part to the fact that these and other towns are built out and have little or no more room to grow.

Here in Bozeman there could be room to grow but because the growth would ruin Bozeman's small town, farming and ranching identity, the community is looking to broader and stricter zoning in an effort to limit unbridled growth occuring away from town, wanting, instead, to encourage "smart growth," highly regulated growth occuring close to the city, with its amenities, like the large Box stores, speciality shops, and stores of neccesity and its infrastructure, like schools, sewers, and water. Growth outside of town could be limited to one house per 160 acres in the near future.

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Taunya Fagan Bozeman Real Estate   406.579.9683   taunya.fagan@prumt.com 

  Big Sky Montana Real Estate     Belgrade Montana Real Estate     Livingston Montana Real Estate

Battling Sprawl in Micropolitan Bozeman, Montana

Battling Sprawl in the Micropolitan West

The population of Bozeman, Montana has grown +20% since 2000, with more than 2000 new single-family home lots approved in the last two years. Subdivisions are springing up consuming acre after acre of what has been historically used as farm- and ranchland.

Gallatin County, Montana is booming, but keeping the boom from adversely impacting the old way of life is an uphill battle. The Sonoran Institute, based in Tucson, AZ, has been called in to help. Its Mission: "...is to inspire and enable community decisions and public policies that respect the land and people of western North America."

Randy Carpenter, a Sonoran Institute land-use planner, said the seemingly out-of control growth the county is experiencing is an all-too common scenario. "We see this all over, the same types of issues in communities all over the west," Carpenter said.

"With traditional land-use principles, most growth occurs in towns, because that's where it makes sense, and that's where the infrastructure and services are," Carpenter said. "But over the past quarter-century in this county and throughout the West those land-use patterns have started to change, and we're seeing more dispersion of development out into the countryside."

What we need to do is return to those traditional patterns of growth, because it just makes more sense," he said. "What thoughtful communities throughout the West are doing is finding ways to guide that growth back into their towns."

Smaller, denser neighborhoods, erected close to existing communities, and composed of closely-built homes, are the next phase of land use in the West. These new communities would be built close to established infrastructure and amenities, and their density would allow for ample open space attached to each subdivision. And all these new subdivisions would be linked to each other like the holes on a golf course are linked, with each green the community and the fairway the open space.

Gallatin County's proposed zoning plan will limit building densities in unincorporated areas of the county to one home per 160 acres of land, but also allow a great deal of flexibility. And property owners will have a number of options that could actually increase the value of their land. A key option would give rural landowners who might not be able to subdivide their property the chance to sell development credits to developers who would use them to increase the density of projects in designated high-growth areas. Like commodities, the credits could be bought and sold.

We will see how all this pans out in the coming months and years... More at Bozeman Daily Chronicle 

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Taunya Fagan Bozeman Homes   406.579.9683   taunya.fagan@prumt.com

 Big Sky Montana Real Estate     Belgrade Montana Real Estate     Livingston Montana Real Estate

Bozeman Land Use Map 

It May Be Time This Spring...

Home prices just may drop sharply this spring, according to Jonathan Clements, as hurting sellers in hard-hit areas give up and radically lower their asking price. This means opportunity is on the horizon this spring...

Three ways to look at the new market shaping up in the US:

Trading up. If you're considering a larger home or a house in a better neighborhood, 2008 could be a great year to trade up cheaply, as long as you can get your price for your home.

Doubling down. Maybe consider a second home. If you don't plan to rent the place out, you likely won't make very much money, meaning its not much of an investment, but you could rent it out until you retire into it.

Helping hand. Purchasing additional real estate for your own use won't be a great investment, but you could assist your adult children to make some money down the road by helping them purchase soon with that future inheritance money...

Read More at the Wall Street Journal 

 

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Taunya Fagan Bozeman Real Estate   406.579.9683   taunya.fagan@prumt.com

Bozeman Montana Real Estate    Big Sky Montana Real Estate

Belgrade Montana Real Estate     Livingston Montana Real Estate

Converting an old Queens' Powerhouse into Industrial Art Condominiums

This bold revitalization project at 50-09 Second Street in Long Island City, Queens is the site of the $200 million PowerHouse Condominium project, which, when all three phases are finished, will have 447 units on the site, including 180,000 square feet of galleries, restaurants, and offices. The original 1909 structure was designed by McKim, Mead, & White to provide electricity for regional trains. The first phase of the project is 177 units, from 500-square-foot studios at $500,000 to 1,500-square-foot three-bedrooms at $2 million. Since October 2007, 30 percent have sold. 

Marketing the project should not be difficult; it will attract many creative-minded professionals, and is a marvelous and unique revitalization project in an otherwise forgotten Queens industrial district.

 The PowerHouse Condos, Queens, NY

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Taunya Fagan Bozeman Real Estate   406.579.9683   taunya.fagan@prumt.com

Bozeman Montana Real Estate    Big Sky Montana Real Estate

Belgrade Montana Real Estate     Livingston Montana Real Estate

Bozeman Montana Public Schools New Elementary Attendance Areas

On Monday, March 3, 2008, Bozeman, Montana's Public School Board voted 7-0 to revamp the elementary school assignment process. Beginning fall 2008, a one-year, transitional step away from "open enrollment" to the neighborhood school system structure will start, leading to a full-fledged neighborhood school structure, with attendance boundaries clearly mapped out for fall 2009.

 

 Bozeman Montana Public Schools Elementary Attendance Boundaries Map

 

Read More at the Bozeman Daily Chronicle 

 

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Taunya Fagan Bozeman MT Real Estate   406.579.9683   taunya.fagan@prumt.com

Bozeman Montana Real Estate    Big Sky Montana Real Estate

Belgrade Montana Real Estate     Livingston Montana Real Estate

 

NCAA Skiing National Alpine and Nordic Championships in Bozeman, Montana this week

The NCAA Skiing National Championships are being held for the next four days here in Bozeman, Montana at Bridger Bowl Ski Area (downhill) and Bohart Ranch Cross Country Ski Center (nordic). CBS Sports will cover this, the sixth, NCAA ski championship in Bridger Canyon, northeast of Bozeman, Montana. The two venues are side-by-side, so it's one short, 15 mile trip from Bozeman up the canyon to where you will get twice the ski racing excitement.

Wed. March 5 Women's 5K Freestyle 9:30 am
Men's 10K Freestyle 10:30 am
Thur. March 6 Men's Giant Slalom 9:30 am
Women's Giant Slalom 1 pm
Fri. March 7 Men's 20K Classicial 9 am
Women's 15K Classical 11 am
Sat. March 8 Women's Slalom 9:30 am
Men's Slalom 10:30 am

Bridger Canyon Taunya Fagan Real estate

 

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Taunya Fagan Bozeman Montana Real Estate    406.579.9683   taunya.fagan@prumt.com