This is a brief video summary of the weekly Montana Land Report from Montana Land Source for the week of 9/2/2020. The Montana Land Report summarizes the week's activity in the Montana land market, as well as Montana land news and events, and goes out to over 5,000 recipients. For more information go to https://mtlandsource.com. Please like and subscribe.
"Hello everyone. Happy Wednesday. Andy here with your video summary of the Montana Land Report for September 2nd, 2020. Another strong week in the Montana land market, and it appears to be only getting stronger.
We have a total of 32 property updates this week:
• three properties back on the market
• nine new listings
• eight pending sales
• five price changes
• and seven sales
All summer long we've seen a high level activity, but mostly in terms of new listings and pending sales. But we've also seen a lot of those pending sales falling out of contract. Overall sales are only slightly up, whereas in the residential market across Montana the market's crazy, and sales are up dramatically. But I've talked about this in prior videos, that the land market is slower to see results. It takes longer for transactions to finalize, and so we often see a little bit of a lag. But sales are up this week in addition to the new listings and the pending sales, so it appears to be strong. We will watch that with continued interest.
In news ,the fifth episode of the Ranch Investors podcast has been released. We interviewed long time rural land appraiser in Montana Jim French, and really got into the dynamics of appraisals:
• why there might be differences in opinions from different appraisers
• different purposes for appraisals
• different scopes of appraisal
• why pricing of properties can be difficult
• and why there's discrepancies between appraised values and what brokers come up with listing prices for their properties
So check out that podcast, some good content there. You can get that at MTLandSource.com or at RanchInvestors.com, or anywhere where you access podcasts.
In upcoming events, there's two seminars coming up in Montana, both put on by the Seminar Group out of the Pacific Northwest. Next week there's the 20th Annual Montana Water Law Seminar so good content on water law. And then in two weeks here in Billings there's the Fifth Annual Buying and Selling Ranches in Montana. I plan on being there, good content that these guys put out. Most of the presenters are attorneys, so it's pretty high level, pretty in depth and looking forward to that.
That's the Land Report for this week. Thanks everybody. Please like, please share, and we will see you next week. Thank you much."