The Wall Street Journal published an article today highlighting the improving market for Vacation homes in a number of resort communities across the country. Several of the trends noted in the article mirror what is happening in Montana's Big Sky Ski Resort. In 2010, Big Sky saw overall sales transactions increase by almost 50% as buyers jumped off the sidelines, often with cash.  The overall dollar volume of sales in Big Sky was also up, but by only 15% as the average price fell 17% between years.  PureWest Christie's Great Estates agents in Big Sky say that buyers who have been watching on the sidelines now believe the bottom is probably behind us and are moving to take advantage of bargain prices still available.  The upward trend in vacation homes defies expectations for home prices nationally where experts are calling for a further decline of 5% - 10% in home prices due to excess inventory, foreclosure pressure and the difficulty in obtaining mortgage finance. ...

    Advances in technology, products and methods have allowed luxury home owners to build at or near carbon neutral homes, even in relatively harsh climates.  In Montana, cold weather patterns make common solutions such as photo-voltaics less practical but other techniques such a thermal exchangers, insulation, home siting and structural design efficiency for passive solar can pick up the slack. Building in Mountain Resorts such as Big Sky, present additional issues for the green builder.  Developers and builders take great care in site selection, materials selection and home design to maximize it’s efficiency.  Architects such as Jerry Locatti and Candice Miller design luxury homes in Big Sky’s upscale resorts such as Yellowstone Club, Spanish Peaks and Moonlight Basin that are not only masterpieces consistent with the Montana vernacular, but also use energy,  water and materials efficiently while maintaining ambient environmental quality.   Real estate agents at Pur ...

Big Sky, Montana Yellowstone Club at Full Throttle in 2011   The front page article of the Bozeman Chronicle on January 2, 2011 rang in the new year by highlighting the success of Sam Byrne, managing partner of CrossHarbor Capital Partners has put the bankruptcy of the Yellowstone Club in Big Sky, firmly in the tail lights.  The club is now selling memberships, land and houses at a solid clip.  Since its founding in 1999, Yellowstone Club has made itself know as the only private skiing in America, and the interest has been tremendous. Sales to noteables such as Bill Gates and Barry Sternlicht have only heightened the status of the already exclusive club, arguably one of the most luxury clubs in the nation. The main point was that the club has now recovered and the result is economic prosperity for both the club itself, but the area at large. Sam Byrne states that he hopes Blixseth is remembered for his extraordinary accomplishments and vision in creating the club as opposed ...

  Big Sky Real Estate Listing Statistics at January 1, 2011 On January 1, 2011 there were a total of 359 listings in Big Sky and the Gallatin Canyon for a total listing volume of $338.9 million. Average days on market continued to be close to a year at 336 days. Of the total listings, 222 are condos, 133 are single family residences and the remaining 14 are townhomes. Although single family residences represent 36% of the total listings, they represent 62% of the dollar listing volume. The average listing price is $919K but the median price is substantially lower at $579K due to the large number of lower price condos making included in total listings. The average single family home is $1.59 million whereas the average condo lists for $533K. Condo Townhome Single Family All Listings ...

  A Wall Street Journal Article posted price comparisons for three comparable luxury mountain homes in popular ski resort destinations. While it is always difficult to make comparisons as view sheds, ski-in ski-out access and access to amenities always plays an important role in pricing, comparisons among resorts is useful as buyers typically shop for second homes on a national level and weigh factors such as the nearby towns, the quality of the ski hill, access, etc. in making a purchase decision. The property shown for Big Sky is the smallest but of very high end construction and has access to both Big Sky and Moonlight Basin Ski Areas.  Location: Price $MM's Sq. Ft. Price per Sq. Ft Big Sky, Montana $2.95 ...

 The following is a statement by National Association of Realtors® President Ron Phipps.   “As the leading advocate for housing and home ownership issues, NAR firmly believes that the mortgage interest deduction (MID) is vital to the stability of the American housing market and economy. “The MID must not be targeted for change. NAR is actively engaged on behalf of the nation’s 75 million home owners and 1.1 million Realtors® to ensure that the current deduction is not modified as was recommended in the Deficit Reduction Commission report released today. “The tax deductibility of interest paid on mortgages is a powerful incentive for home ownership and has been one of the simplest provisions in the federal tax code for more than 80 years. In a new survey commissioned by NAR and conducted online in October 2010 by Harris Interactive of nearly 3,000 homeowners and renters, nearly three-fourths of homeowners and two-thirds of renters said the mortgage interest deduction was extremely or very importa ...

Horse Drawn Sleigh Rides This winter season Cedar Mountain Corrals is offering a horse drawn sleigh rides through Moonlight Basin’s untouched terrain. Gather friends and family and come enjoy a scenic ride through untracked snow filled hills. Upon arriving at Ulrey’s Lake there will be warm drinks, snacks, children activities plus a bonfire.  Guests will enjoy live country music, s’mores, hot cocoa, coffee and campfire.  Contact our Mountain Concierge at (406) 995-7716 or Cedar Mountain Corrals at (406) 539-4065 for reservation and details.

 Big Sky – Gap of Sales Price to Original Listing Widens   As we close our books for real estate sales in 2010, the gap between original list price and actual sell price widened.  Actual sell prices in Big Sky were 79% of original list, compared with 87% last year and 92% the year before.  Traditionally, the gap has ranged 5% - 10% but has grown recently as market prices have fallen and seller have had to deeply discount to sell.  And it’s clear sellers want to make deals.  The number of transactions is expected to increase by 50% over last year while the average sales price continues to fall.  Average sales price is expected to be $482k in 2010, down 17% from last year.  With buyers and sellers meeting on price, it is likely a bottom has been reached for most types of real estate.  Less expensive condos and townhomes moved briskly and the luxury mountain home markets is reviving as well.  Total real estate sales in Big Sky are expected to be $62 milli ...