This is a brief video summary of the weekly Montana Land Report from Montana Land Source for the week of 9/16/2020. 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, share and subscribe.
"Hi everyone, Andy Rahn here with this week's video summary of the Montana Land Report for September 16 2020.
It has been a blistering week in the Montana land market. A total of 20 pending sales this week. That's a record in the over five years that Montana Land Source has been tracking activity on a weekly basis.
Tremendous amount of activity, a total of 42 property updates this week:
• two properties are back on the market
• six new listings
• like I said 20 pending sales
• four price changes
• one revised listing and
• nine sold
So a tremendous week in the market. The Buying and Selling Ranches Seminar is going on right now in Billings Montana. Half of it's over, having had happened yesterday. One of the presenters is a real estate attorney who specializes in farm and ranch, handles farm and ranch transactions. She's been in the business for decades, and says that she's busier now than she's ever been in her career with closings for farm and ranch properties.
It's been really nice to network and connect with all the brokers that are there, and again just checking in with them, everybody's telling essentially the same story. Tremendously busy. A tremendous amount of activity. Most of that activity, however though, is in the lower tiers or mid to lower tiers. Or I should just say, it may be that the upper end big ranches are the one exception. A few brokers discussed that that the big ranches don't seem to be in as high demand as everything else. And that probably makes sense if a lot of this market is driven by Covid and social unrest refugees. They're looking for a place to settle, they're looking for a place to move not so much necessarily big long-term term investment that those big ranches represent. But we'll be watching that with interest, and see if that part of the market doesn't get active as well.
In news and events, coming up we've got our joint meeting with the Billings and the Bozeman Farm and Ranch Brokers coming up next week. We're going to have Greg Gianforte, a candidate for Governor zoom in. His running mate Kristen Juris is going to be with us in person, and we're also going to have a drone operator present at that meeting and give some information on the use of drones in real estate.
There is an auction coming up, the Belt Creek Ranch, an in-person auction north of White Sulphur Springs coming up in about a week or so.
So that's all on Montana Land Source. Last bit of news is that episode six of the Ranch Investors podcast is out with Max Hansen, 1031 expert and guru for our area. He's presenting at the conferences going on right now as well. But we have a podcast with him for about 45 minutes, diving into changes in 1031, which have been significant. Lots of change in that part of tax law.
So that's the report for this week. Please check out our podcast, please like and share this content, both this video and the podcast. It's all available on mtlandsource.com.
Thanks everybody and we will see you next week."