Monday, December 4, 2017 / by Olivia Martin
Inventory of homes for sale is tight and as a result, months of supply is low. With so many homes not remaining on the market for long, sellers have the advantage over buyers in that they have a much higher chance of obtaining top dollar for their home. While this information isn’t new, you may be surprised to learn that generational trends play a huge role in today’s housing market, particularly amongst the buyer population.
Who’s Buying the Most?
Different generations have different home buying tendencies and patterns. In 2016, Millennials/Generation Y (ages 36 and younger) represented 35% of all homebuyers across all other generations. This year, that number is down to 34%— still the largest share of home buyers. Of these buyers, 66% were also first-time home buyers. Generation X (ages 37-51) represented 28%, Younger Baby Boomers (ages 52-61) represented 16%, Older Baby Boomers (ages 62-70) represented 14%, and the Silent Gene ...
Wednesday, November 22, 2017 / by Olivia Martin
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Friday, November 17, 2017 / by Olivia Martin
What Does Growth Look Like Around the U.S.?
It comes as no surprise to many of us that owning a home can be an expensive venture. Factor in HOA fees, interior appliances/materials, miscellaneous maintenance costs and everything in between, and it’s easy to see why being a homeowner can appear to be daunting to some.
Although home prices grew 5.6% last year, this is only determined when comparing dollars to dollars. If this statistic is adjusted for inflation, this increase is still actually 15% below the high that occurred in 2006. Of the country’s 100 largest metro areas, only 41 grew to new peaks, even though 97 of these 100 metro areas did see overall home price growth. Overall, housing markets on both the West and East coasts have experienced inflation-adjusted home price increases of more than 40% in the last 16 years, while markets in the Midwest and South have generally experienced decreases.
However, growth has not been the same across all income levels. After Ha ...
Tuesday, November 7, 2017 / by Olivia Martin
While the overall design for Bozeman’s 2nd high school has been approved, the actual design drawings will be completed sometime this month, at which time the School Board will take its final vote on the design. Previously, we had learned that the design was modern and sleek, with elements of brickwork, black metal cladding and an all-glass entryway incorporated into the plans. Only small modifications to this design have been made by Building Committee members, which include using traditional red brickwork rather than the originally proposed grey, and using white instead of purple for the triangle outside the main entry.
The Annie Street Issue
City staff members are in favor of the school district building Annie Street east-west, which would cut through the middle of the property where the high school will be constructed. This expense is estimated at $800,000, and would require students to cross a city street in order to reach the playing fields. While the school conducted a t ...
Thursday, October 26, 2017 / by Olivia Martin
In September of 2016, the Black-Olive project was first presented to Bozeman City Commissioners as a 5-story building that would feature 56 apartments, as well as commercial business space on the ground floor and 37 on-site parking spaces. Many neighboring residents spoke out at both public meetings and on Facebook’s “Save Bozeman” page to express their concerns that the contemporary building would ruin Bozeman’s small-town charm and negatively impact street parking.
On April 11th of this year, this proposal was denied with a 4-1 vote, although it was stated that developer Andy Holloran intended to modify the design and resubmit his proposal for later review. Fast forward to last week— the Black-Olive development was APPROVED after more than a year of discussions, meetings and revised design plans, ironically with a 4-1 vote. The project will include demolition of the two-story building currently located at 202 S. Black Ave.
The new design ha ...