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MARKET WATCH

MONTANA SITE SELECTOR

Gallatin County Market Watch for October 2017

 

market watch

For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales.
  
Although inventory levels are low in many markets, there has largely been enough listing and building activity, or at least conversation about future activity, to maintain a positive attitude about the prospects of buying or selling a home. Low affordability has started to become a recent topic of conversation and is worth watching. But with a healthy economy, level of demand and national unemployment rate, sellers are going to continue to see strong prices for their homes.

BOZEMAN, MT -- The Gallatin Association of REALTORS® board of directors recently voted to endorse three candidates for Bozeman city office who support the ideals and concerns of the REALTOR® party.

The endorsed candidates are:
•    Mayor of Bozeman:  Chris Mehl
•    Bozeman City Commissioner:  Doug Chandler, I-Ho Pomeroy.

"We conducted a thorough selection and interview process to learn where the candidates stand on the issues, find out if they understand the economic importance of the real estate industry in Bozeman and surrounding areas, and ascertain which of them will support policies that promote economic growth, home ownership and private property rights," said GAR President Jeff Renevier. "Based on the insight gained during this vetting process, our board believes Chris Mehl, Doug Chandler and I-Ho Pomeroy are the right choices for voters who want to see Bozeman continue to grow and prosper."

About Chris Mehl

Chris Mehl has served as a Bozeman City Commissioner since 2010, winning re-election to a second four-year term in 2013. His record includes voting for the city’s current affordable housing program in 2015 and supporting funding for its ongoing strategic planning effort. He is currently Policy Director at Headwaters Economics. Mehl is 47 years old and a graduate of Dartmouth College. His previous employment includes serving as a press secretary for a Member of Congress as well as the Wilderness Society. He is a former president of the Bozeman Public Library Foundation and has served on the Bozeman Planning Board and the advisory board for Bozeman Economic Growth Policy. Mehl is an active member of the Sunrise Rotary Club and supports Family Promise. According to Mehl, his priorities include preserving quality of life, improving city-resident communication and seeking a local option sales tax. He wants to attract businesses in engineering, pharmaceuticals, and laser optics to Bozeman.

About Doug Chandler

Chandler is President of Allied Engineering and a longstanding member of the Sunrise Rotary Club. As a Rotarian, he played a key leadership role in the club’s development of the East Gallatin Recreation Area. Previously, Chandler previously worked as a Geotechnical Engineer for Shannon and Wilson, Inc., a geotechnical consulting firm in Seattle. He holds a PhD. in civil engineering from University of Washington and as well as bachelor’s degrees from Montana State University. He served on the Trails, Open Space and Parks Committee from 2013-2015 and is a City of Bozeman at-large board member for the Gallatin Local Water Quality District.

About I-Ho Pomeroy

I-Ho Pomeroy is a small business owner who is completing her first term as a Bozeman City Commissioner. She owns and operates of I-Ho’s Korean Grill. Pomeroy is 56 years old and was born in Chin-Hae, South Korea. She attended the University of Montana as well as Montana State University, where she studied economics and business. Pomeroy also served in the United States Navy.  She is actively involved with Sunrise Rotary, Gallatin Valley Toastmasters and translates for Gallatin County District Court. Her platform is focused on affordable housing, higher paying jobs and protecting open space and farmland.Two candidates are vying for Mayor in the November 7, 2017 election.  Bozeman’s Mayor serves as chair of the city’s five-member commission, presiding over meetings and performing some additional duties.  Carson Taylor is the current Mayor, with his seat becoming available in January 2018.  The winner of this year's mayoral election will spend two years as Deputy Mayor and commissioner, followed by two years as Mayor.  Deputy Mayor Cyndy Andrus has two years left in her term, and will therefore assume the office of Mayor in January 2018.  Additionally, there are two open commission seats to fill in the election, with five candidates seeking to fill those seats.

Who We Are

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GAR has over 1000 members from all across the Southwest Montana region. Our members have a variety of real estate specialties, including appraisal, commercial development, farm and ranch, residential, recreational land, and resort properties. We also offer affiliate membership to a variety of related industries like banking institutions, title and escrow, home inspection, photography, construction, restoration, insurance, and communications. REALTORS® represent the best of the real estate industry and abide by a Code of Ethics and Standards of Practice enforced by the National Association of REALTORS®. As one of Gallatin County’s largest business organizations, the Gallatin Association of REALTORS® is proud to serve as the voice of this organization of exceptional professionals.