The Arts Council of Big Sky’s first fundraising gala at the brand new Warren Miller Performing Arts Center was an evening of cajun food, jazz music, the creation of one-of-a-kind artwork. We intermingled various disciplines of the Arts to signal where the future of our organization is headed. Six premier Montana artists painted western scenes live on stage. The auction that followed impressed everyone from the audience to the artists. Big Sky is not only a destination for outdoor recreationalists; our beautiful natural surroundings act as a magnet for arts enthusiasts as well.
Referencing our 2012 data, real estate sales in Big Sky have rebounded this year with sales volume up across the board. My Buyers have found incredible value in homes, land and condos throughout The Yellowstone Club, Big Sky and Moonlight Basin. The one remaining outlier with regard to risk advisement is still the Club at Spanish Peaks which remains too difficult to assess the proper risk tolerance. Smart sellers are pricing properties to the market. Our mortgage rates are at historic lows. Inventory by units has been depleted significantly year over year. In brief, a now short supply of inventory and higher buyer demand is keeping our market strong in most of the segments referenced above.
Clearly on the mend, Real estate in Big Sky is a new margin of safety. I am a data driven person and am excited about the fact that we are finally seeing a trend line of data demonstrating a bottom of our local market. I predict that prices will begin to moderately adjust upwards indicating a steady recovery in 2013. One segment showing noticeable signs of improvement is the residential land sales. There is no question of the direct correlation between the health of the vacant residential land sales and that of the overall real estate market. I have been waiting patiently four (4) years to see the land component shift and recover in order to determine true replacement value of the structures whether condo or home.
Another trend which may go without saying is the fact that distressed properties are still controlling some segments of our local market and cash is still king in all segments. Both issues or factors continue to create challenges for our sellers and remind all of us that it is a bid/ask process. I predict distressed inventory rates to increase dramatically in the first two (2) quarters of 2013 and cash transactions will be an integral component to over fifty percent (50%) of all deals throughout the year.
Ariane Ogburn Coleman is Big Sky Sotheby’s International Realty’s featured Montana artist. Check out her work at:
Ariane’s jewelry reflects her exploration in spacial relationships of layers of metal and stones. Her jewelry can be said to be quite sculptural. After finishing her degree in Fine Arts in 2004, with her emphasis in Metalsmithing her career took off! Ariane’s studio is centrally located in the heart of beautiful Big Sky, MT, where she is inspired to create her works of art. She is also located online at Ari O Jewelry Gallery.
There are many qualities and skills that go into being an excellent real estate professional – integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how we work.
Through building a local property management company Carrie has discovered an ability to meet the needs of Big Sky’s homeowners and vacationers alike. This business has also provided her with an insider’s look at the wide variety of real estate in the area.
Carrie’s goal is to offer a positive and successful real estate experience to all her clients. By focusing on details and consistent follow up, Carrie ensures that each client will feel confident and well informed in their purchase or sale.
Contact her today!