For folks who think that housing prices in the Bozeman area are insane--and you're not wrong, by the way--a house that was recently listed on Lamme Ave may have you reaching for a bottle of Xanax.

The house is a 552 sq ft with 1 bedroom and 1 bath, located at 514 E. Lamme. It was built in 1935 and can be yours for $500,000. Now the lot is nearly 5,000 sq ft and its location just off of downtown Bozeman is appealing, but . . . .

There is a matching cottage next door that is also for sale with 1,287 sq ft (cue angels singing), but this one will cost you $560,000.

It's prices like these that are sending some folks out onto Bozeman street corners to try and find an affordable house.

Credit: Sean Hawksford

Housing prices in the Bozeman area are shooting up, in part, because of low inventory. There's just not many homes out there for sale right now.

We reached out to our real estate friend Krista Menzel from Re/MAX Realty Group to see if she had any advice for folks looking to buy a house right now.

"My advice is be sure to do your homework before shopping!  And make sure to get pre-approved on a loan. Competitive offers that come without pre-approval letters most times are not accepted by seller. You'll need to  know how much you will need for closing costs as this can always be a hang-up in the end! 

Also, it is EXTREMELY BENEFICIAL to work with a buyers agent to guide you through the process. It’s at no cost to the buyer as they are compensated by seller. Agents are skilled in knowing how to working in multiple offer situations, especially the negotiation part of it!"

 

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