Are you one of many people who are considering a move out of a large city?
Come home to Bozeman, a city community of 50,000 located off I-90 in the southwestern region of Montana. Bozeman can be found in the Gallatin Valley, 4820 feet above sea level and surrounded by Mountain ranges.
Our Mountain Ranges include:
The Bridger Mountains are located to the northeast of Bozeman. The highest peak in the Bridger Range is Sacagawea Peak at 9,665 ft (2,496 m).
The Gallatin Range is located south of Bozeman and includes more than 10 mountains over 10,000 feet (3,000 m). The highest peak in the range is Electric Peak at 10,969 feet (3,343 m).
The Madison Range is located southwest of Bozeman. The highest peak in the Madison Range is also the highest peak in Montana outside the Beartooth Range. Hilgard Peak measures at 11,316 feet.
The Crazy Mountains, often called the Crazies, are located between the Musselshell and Yellowstone rivers. The highest peak is Crazy Peak at 11,214 feet (3,418 m).
The Absarokas are located southeast of Bozeman. The range stretches about 150 mi (240 km) across the Montana-Wyoming border. Eight peaks in the Absaroka Mountains exceed 12,000 feet, including the highest point, Francs Peak (13,140 feet) located in Wyoming.
The Tobacco Root Mountains lie in the northern Rocky Mountains, between the Jefferson and Madison Rivers in southwest Montana. The highest peak is Hollowtop at 10,604 .
With all of these mountain ranges, you can imagine the dramatic beauty that Bozemanites view everyday.
What is there to do for fun?
The year round recreational opportunities are boundless in Bozeman. With much of the surrounding land in the mountains belonging to the Forest Service , Bureau of Land Management and the state of Montana, these mountains and wilderness areas will stay pristine and able to be enjoyed by generations to come. And of course, Montana’s rivers are legendary amongst anglers. Popular activities here are hiking, camping, mountain biking, climbing, fishing, rafting, hunting, alpine and Nordic skiing, snow shoeing, and ice climbing.
Bozeman is located only 90 minutes to Yellowstone National Park and 45 minutes to the renowned Big Sky ski area. We also have our Locals ski area, Bridger Bowl, where skiing can be as challenging or as relaxed as you like and at less than half the cost of Big Sky.
What about work?
But Bozeman is not fun and games all the time! Bozeman has been name #1 Micropolitan City in the US for economic strength, three years in a row! Montana is still mostly agricultural but there is a burgeoning tech and biotech scene in Bozeman which is strengthened by the entrepreneurial talent and experience that consistently moves here each year. The business community here is vibrant, smart and symbiotic. More about Bozeman economic strength at this link. https://policom.com/rankings-micropolitan-areas/
One of Bozeman’s economic strengths is its housing market. Due to the consistent level of demand , Values of home consistently grow at 8-10 %per year. Bozeman and the area offer homes from entry level condos to historic downtown homes to multi million mountain ranches and everything in between.
Montana State and the cultural aspects of Bozeman
Bozeman is home to the state’s largest university, Montana State which is also the region’s largest single employer. Montana State is woven into the fabric of Bozeman which helps the city’s cultural diversity and activity. There are many ways to experience the arts and culture of the west here including Art walks, music festivals, farmers markets, rodeos, and parades . Attending one of those events will help you feel part of a community even smaller than our actual 50,000 people.
Does this community sound like a pretty ideal place to live? What are you waiting for?
I am here to help make your dreams, your reality in Bozeman Montana.
Check out my website for timely blogs on living in Bozeman as well as real estate trends. https://movemetomontana.com/
Yes, Tipped employees can purchase a home in Bozeman! Do you get a significant amount of your income from tips? Do you want to own your own home but think you can’t qualify for a mortgage? I have good news!! With some planning and careful documentation, you can definitely purchase a home and even qualify for low down payment programs. Following are the very important steps to get you on your way to home ownership.
Steps for Tipped Employees to qualify for a mortgage
- Track your income including all of those tips! Get in the habit of logging your tips daily and then depositing them in the bank on a regular basis. Regular means daily or at the most weekly. Your lender will want to see these regular deposits to verify your income. Try and keep a log of your shifts worked and how much you earned in tips and then deposited.
- Pay taxes on all of your income including all of those tips! I know that you can probably get away with not paying taxes on everything (cash tips) but the income that you state has to square with the taxes that you pay. No way around it.
- You will need to show a consistent work history. That means that you have earned enough money at your job for 2 years and preferably in the same job for at least six months. So find a place that you like to work and that you earn enough money, and then stay there.
- Because the lender will look at your debt to income ratio, put off any other big purchases until your home is closed. That means no new cars…and while you are at it, pay off the credit cards asap.
There are so many low down payment programs out there to help you purchase your first home. Some are below:
Low Downpayment Programs
There are VERY generous programs out there to help with qualifying the first time homebuyer for a purchase with a low downpayment.
- FHA loan program: A loan insured by the Federal Housing Administration. Good for those with low credit scores and little money saved for a down payment. https://www.hud.gov/buying/loans
- USDA loan program: A loan program 100 percent guaranteed by the U.S. Department of Agriculture for lower-income borrowers in eligible rural areas. https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program
- VA loan program: A loan backed by the U.S. Department of Veteran Affairs that allows no down payment for military personnel, veterans and their families. https://benefits.va.gov/homeloans/
- Good Neighbor Next Door buyer aid program: A HUD program that provides housing aid for law enforcement officers, firefighters, emergency medical technicians and teachers. https://www.hud.gov/program_offices/housing/sfh/reo/goodn/particip
- Fannie Mae or Freddie Mac loan program: Conventional loans backed by Fannie Mae or Freddie Mac require 3 percent down. Good for those with strong credit.
- HomePath ReadyBuyer Program: A program that provides 3 percent in closing cost assistance to first-time buyers. Must complete an educational course and buy a foreclosed Fannie Mae property.
- Energy-efficient mortgage program: Backed by FHA or VA loan programs and allows borrowers to combine the cost of energy-efficient upgrades onto a primary loan upfront.
- FHA Section 203(k) loan program: Borrow the funds needed to pay for home improvement projects and roll the costs into one FHA loan with your primary mortgage.
For daily information about mortgage rates, check out this site http://www.mortgagenewsdaily.com/
Currently, mortgage rates are super low and prices are still affordable so you can purchase a home in the Bozeman area. Read more here about how Bozeman fared during and after the Covid closures. https://movemetomontana.com/2020/06/15/bozeman-real-estate-rebounds-after-covid-closures
Tipped employees, this is your time to purchase a home in Bozeman! Please reach out and schedule a consultation and start the process today!!
Wow Bozeman, what a month! No one was sure what would happen to the Bozeman real estate market during and after the Covid closures. We found out this week that Bozeman real estate rebounded decisively.
Where we came from…April
In my April report, we saw the full effect of the Covid restrictions and concerns about what would happen to the market and home values. Our single family home listings were down by over 50%. Pending sales were down 26.8% over April of 2019 and closed sales were down over 55% over previous year. Prices however were still increasing. Our inventory of homes to sell to buyers who were still looking dropped to 1.8 months. More information on April here: https://movemetomontana.com/2020/04/14/bozeman-and-belgrade-real-estate-trends
And then May…Bozeman real estate market rebounds from Covid closures
With Montana starting phase around April 26, the switch flipped and as a result we have a very different picture reflected in our May numbers. Our listings are still not what they were last year. But they have significantly increased and as reflected in the pending numbers, they were then put under contract pretty quickly. Closed sales naturally are still running behind last year as that comes from the pended sales from March and April.
Where are we headed?
I did an open house over the weekend. It was very well attended with qualified buyers. Some were new to the area and some were current residents but wanted to buy property before prices went up even further. I was amazed at how much energy there was about the growth of Bozeman and effect on housing supply and pricing. Bozeman is voting tonight on whether to annex an area in South Bozeman. While not many people are happy about development in that area, we are going to desperately need more housing for all of the people who want to live here. https://www.bozemandailychronicle.com/news/city-commission-to-vote-on-annexation-zoning-for-south-bozeman-development/article_bc701bb0-b9ae-5541-bb6f-57546483cd63.html?utm_source=dlvr.it&utm_medium=facebook&fbclid=IwAR37M0klgSxFLxkGvVpDr8XIRV0PwoVv7-nEtOG8hd7H46K6rHT9wpGQ6rA
Please reach out to me to learn more about the market or the value of your home!
406 499 4218 or firstname.lastname@example.org