For real estate buyers interested in investing in a Bozeman property, the timing could not be more perfect. Right now, home prices in this particular Montana area have declined, mainly due to the national housing crisis that was fuelled by the growing inventory in bank forclosure list.

In addition to the dropping home prices, buyers are also lured by the low home loan rates being offered by lenders in order to stimulate the housing market.

Considering the attractive home buying environment, it is not at all surprising that a lot of the buyers who have been waiting on the sidelines all these times have decided to inspect the many investment opportunities. Homes that are reasonably-priced are actually receiving multiple offers, which was unheard of just a couple of months ago.

For most real estate brokers in Bozeman, it is a game that requires much patience. Although things are beginning to look up, it will still take a long time for the local housing market to recover. Based on the date from the Gallatin Association of Realtors, only 101 Bozeman homes have been sold beginning this year compared to about 502 homes in 2008 and 816 last 2005.

A lot of the sellers are troubled homeowners who have been affected by the sluggish economy and are looking for a way to keep their homes from ending up in a bank foreclosure list.

On the other hand, a significant number of buyers are first timers who have either down-graded or moved from another city or state. In fact, approximately 40 percent of buyers in the last 10 years were from out-of-state.

Buyers who have never owned a home in the last three years are especially interested in what the Bozeman housing market has to offer. And with the incentive that the Obama administration has been offering buyers in the form of a federal tax credit, many are hopeful that they can finally afford a home.

Homes in a bank foreclosure list are also attracting much attention considering their cheaper prices. However, buyers are advised to think before they decide to purchase one of these forclosure properties since they will need extra budget for repairs.