Revised Loan Limits for 2022
Provided by Gina Marshall, Wealth Management Mortgage Loan Officer with US Bank- Bozeman

Conforming loan limit for the following has increased to:

Single-family homes is $647,200 
2 unit is $828,700
3-unit $1,001,650
4 unit $1,244,850

The new FHA limit in Gallatin County is $603,750 (single family)

VA follows conforming at $647,200 however If the borrower has sufficient entitlement there is no longer a loan limit for VA,  changed in 2020.

**Second Home Loans ** 
News Release

FHFA Announces Targeted Increases to Enterprise Pricing Framework

Upfront Fee Adjustments for High Balance Loans and Second Home Loans to Take Effect April 1, 2022

FOR IMMEDIATE RELEASE

1/5/2022

​​Washington, D.C. – Today, the Federal…

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(Bozeman, Montana…..September 22, 2021) Bozeman Fiber announced today that it has applied for a $65 million Industrial Development Revenue Bond through Gallatin County to build a world-class fiber internet network to 22,000 homes in the Gallatin Valley. The organization, officially organized as a 501 (c)(4) nonprofit, has partnered with the county to serve as conduit for the transaction which will make gigabit fiber service available to every household and business in the greater Bozeman area. The funds are completely investor-based and at no risk or cost to the county or taxpayers.

“Bozeman Fiber is extremely excited to take this step forward in our fiber-to-the-home project,” said Greg Metzger, CEO of Bozeman Fiber. “The $65 million raised will…

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CSA stands for Community Supported Agriculture. They are key in helping farms and ranches to fund their efforts while the work is being done and support locally sustainable agriculture. There are many different types of CSAs > fruits, flowers, veggies, meat, eggs and more...We have a lot of options for local CSAs in Montana. The best way to find them is to google them or visit the farmer's markets. We have a winter bi-weekly market at the fairgrounds in Bozeman and 2 weekly farmer's markets in the summer months on Tuesdays and Saturdays.

5 Benefits of a CSA:

1. You’re supporting your local community – it’s no secret that many of our local agricultural producers are being pushed out by larger-scale, commercial farmers. The best way to show your…

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The US is 3.8 Million Homes Short!

Well, what does this mean, why and what can we do about it? It's no secret that the real estate market is the topic of conversation across the country with homes selling within hours and for sometimes $100,000 over list price, even for a dated, small townhouse in Bozeman, Montana! This isn't the case with every property, but it takes luck or an experienced agent to get your offer accepted as well as some give and more give on the buyer's side. This is what we call a "seller's market"!

The U.S. housing market needs nearly 4 million single-family homes to meet the nation’s demand, according to a new analysis from Freddie Mac. The 3.8 million shortfall marks a 52% increase in the housing shortage since 2018 according…

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Students in the BHS Solar Schools Club have been working hard to continue fundraising for solar panels on school rooftops.  The Solar Schools Club mission is to reduce the town's impact by offsetting our schools' energy demands using sunshine.  Montana's Net Metering program allows the harvest of sunshine during long summer days to offset winter consumption.  Please read on to learn how you can help our students "Keep Summers Cool and Winters Cold," in an effort to preserve the Greater Yellowstone Ecosystem and the Last Best Place.

Over three years, a dedicated group of students meeting weekly at lunch have raised $17,000, and are currently 33% towards the capital goals for our legacy project on Bozeman High School.

 We will be…

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In addition to a long wait for Season 4 of "Yellowstone", we also have a new series in the works...

Following the successes of Yellowstone and Big Sky, a new series set around the history of John Bozeman and gunslinger William McKenzie is on the books for production in Montana starting soon.

Thanks to an expanding film industry and generous tax credit coordinated through the Montana Film Office, the series is being produced by Oscar-winning actor Richard Dreyfuss and writer/historian Jerry K Williams, who will serve as creator of the show and star alongside Dreyfuss.

the show Bozeman, Montana will revolve around the early history of Bozeman, John Bozeman's history as a young farmer in the region, and have a heavy focus on the relationship between…

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We hear this a lot in the current market; however, I have heard it for over 20 years just the same. This is a snapshot of the real estate market in the Bozeman area since 2003 so you can analyze the data and make your own decision if you should wait or buy now? We don't have a crystal ball to know when there will be a significant event like 911 or the pandemic that may change any forecasts any expert may make. You will see in the data below when the recession happened that reset our market as well as how the market bounced back and continued to grow at a steady rate. What we are experiencing now are unprecedented growth and interest rates from the economic rule of Supply & Demand - low inventory with high demand causes the increase in price.

 

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January 2021 
January started off strong for the housing market, with healthy buyer demand and strong market fundamentals. A robust increase in housing starts in - 68.4% December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

Closed Sales decreased 23.8 percent for Single Family homes but increased 36.2 percent for Condo/Townhouse homes. Pending Sales decreased 10.0 percent for Single Family homes and 5.9 percent for Condo/Townhouse homes. Inventory decreased 66.8 percent for Single Family homes and 71.9 percent for Condo/Townhouse homes.

The Median Sales Price increased 24.4 percent to $560,000 for Single Family homes and 9.0…

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What drives the risk of a house price correction?

According to JP Morgan, the housing bust and subsequent recession were deepest in the areas where mortgage borrowing expanded the most in the pre-crisis years, driving unsustainable increases in prices. During the 2006-2011 housing bust, price declines were closely intertwined with growth in mortgage debt during the boom. The growth in mortgage debt from 2003 to 2006 explains about half of the variation across counties in the decline in real prices from 2006 to 2011.

Another notable feature of the mid-2000s housing market is the presence of high prices even in places where the supply of housing could – and did – expand rapidly. Indeed, in the mid-2000s, prices rose well above cost in a number of markets…

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Montana became quite the destination during 2020 and the CoVid pandemic...the gateway to Yellowstone National Park and skiing, hiking, fishing, what's not to love? That certainly beats living in 4 walls in a highrise in a big city or in an area of millions of people in a few blocks' radius.

Well, you're in luck! The Bozeman Yellowstone International Airport now offers 25 Direct city flights from around the country with the recent addition of Austin, Oakland and San Diego.

The additional direct flights to Bozeman, many seasonal are the following:

  1. Atlanta
  2. Austin
  3. Boston
  4. Charlotte
  5. Chicago
  6. Dallas
  7. Denver
  8. Fort Lauderdale
  9. Houston
  10. LA
  11. Las Vegas
  12. Minneapolis
  13. Nashville
  14. Newark
  15. New York LaGuardia
  16. New York JFK
  17. …

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