One of the few actively listed properties in the Melody Ranch subdivision, this South Valley four bedroom single-family house features outstanding views of Glory Bowl. The improvement has been very well maintained inside and out, has an open floor plan, great sunlight, and the master is on the first floor –much of which you can see yourself in this short video.

In addition to this short 40 second clip, you can also view an image gallery showing this home’s open kitchen, appliances, bedrooms and well-maintained landscaped lot below.

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$829,900

4340 BALSAM LN
Jackson, WY 83001
4 beds  |  3 baths  |  2581 sqft

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Property Description
This is a beautiful, well-kept home on the western edge of Melody Ranch. The finishes are high-end and the mountain views are lovely. Other attractions: security system, new deck, sprinklers, mature landscaping. Master suite is on the main floor.

Details

Summary

MLS#:  11-1209	Property Type:  Residential
Property Sub-Type:  Single Family	# of Bedrooms:  4
# of Bathrooms:  3	# of Full Baths:  2
# of Half Baths:  1	Year Built:  2004
Total SQFT:  2581	Subdivision:  Melody Ranch
Area:  9 - South of Jackson to Snake River Bridge

Property Info

Realtor.com Type: Residential - Single Family	House Style: 2 Story
2nd Flr & Above SqFt: 972	Main Flr SqFt: 1609
Garage Type: Attached	# Stalls: 2
Garage SqFt: 680	Acres: 0.5
Lot Size: .50	Horses Allowed: No

Location, Legal & Taxes

Lot #: 176	Zoning: Single Family
Ann. HOA Fee $: 900	Taxes: 4122.64
Tax Year: 2011

Remarks & Directions

Possession: At Closing

Compensation and Showing Info

Agent Owned: N

Property Features

Water: Private

Sewer: Public

Basement: None

Construction: Stick Built On Site

Exterior: Cedar

Furnished: Unfurnished

Amenities: Cable; Cathedral Ceiling; Deck; Garage Door Opener; Hardwood Floors; Hi-Speed Internet; Landscaped; Security System; Sprinkler System

Property Features: Cable to Property; Electric to Property; Flat; On Paved Road; Phone to Property; Trees; Year Round Access

Hardwood Floors: Hickory

Exterior Trim: Cedar; Stone

Roof: Comp Shingle

Air Conditioning: None

Fuel Type: Natural Gas

Heat: Forced Air Ducts

Appliances: Dishwasher; Dryer; Freezer; Microwave; Range; Refrigerator; Washer

Water Softner: None

Driveway: Asphalt

View: Canyon View; Glory Bowl; Gros Ventre Mtn View; Munger Mountain View; Teton View; Valley View

Special Rooms: Loft

Financing: Cash

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Listing Office: Jackson Hole Real Estate Associates, LLC

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Christie’s Appoints Landscope Realty Limited as the First Real Estate Affiliate in Southeast Asia

In February, I was proud to announce that those selling luxury Jackson Hole homes with Jackson Hole Real Estate Associates will be able to benefit from an expanded reach to the US, Europe, Africa, Canada, the Caribbean due to 10 new Christie’s International Real Estate affiliates. On April 12th, Christie’s announced another new affiliate with Landscope Realty Limited making the Hong Kong brokerage the first real estate affiliate in Southeast Asia! This gives JHREA sellers even more of a global presence online.

Landscope is the 13th brokerage to become an affiliate with Christie’s International Real Estate in the last six months. In addition to being the leader in luxury real estate sales in Hong Kong, Landscope also closed the highest residential sale of HK 728.88 million.

“We are honored to have been chosen to join the Christie’s International Real Estate network,” says K.S. Koh, Managing Director of Landscope. “Our existing prime position in the Hong Kong market is further strengthened by the ability to offer a pre-qualified real estate specialist service on acquisition and disposal of luxury properties worldwide from within our network. We can now also refer them to our Christie’s colleagues for art advice, as our ultra-high-net-worth clientele has diverse investment interests. Additionally, we are eager to assist international clients looking to acquire real estate in and around Hong Kong. The association with Christie’s is an endorsement of our core values which include integrity, professionalism and discretion.”

Naturally I’m excited to offer more exposure for our clients, but to now also facilitate and assist those who appreciate fine art and real estate in Hong Kong is a great honor.

Big dollar sales in Teton Village tilted the value of Jackson area real estate favorably in 2011 with condos being the dominate property type. However, single-family and vacant land gave an average of over $1 million with a combined total of $18,350,000 between seven sales.

Single-Family: 4

Single-family homes accounted for $14 million in Teton Village among four sales. Valley-wide, list prices for 223 homes on the open market averaged $3.1 million when these numbers were compiled at the beginning of the year. Considering that list price is commonly higher than the actual sold price in this market, a “sold” average of $3.5 million for 2011 in Teton Village is good news for existing homeowners.

Condo/Townhome: 46

Despite the 33% decline of the average sale price settling at $998,543 by year’s end, 2011 sales are up 70% compared to 2010 with a total of 46 sales–one of which being the most expensive condo sale of $3.1 million for a 3 bedroom/3.5 bath at the Four Seasons.

Lots/Vacant Land: 3

If there’s one thing man cannot make more of, it’s land. Land in Teton Village supports how valuable dirt can be with only three sales accumulating $4,350,000. Two of the lots were additions in Jackson Hole Ski Corp. while the third wheel was in Granite Ridge.  Average for vacant land was an impressive $1,450,000.

Condo sales proved Teton Village to be a hot spot with the total sales being up by 70%. However, unlike the 61 condo sales in The Town of Jackson for 2011, Teton Village might not be as much of a “hot spot” for investors with an average sale price of $998,543 among the 46 total transactions. On the contrary, compare those 46 condo sales with only four single-family homes and three lots (one in the Granite Ridge subdivision and two in Jackson Hole Ski Corp.) totally over $18 million.

As part of an ongoing effort to give their affiliates (Jackson Hole Real Estate Associates) international exposure for the benefit of their clients (JHREA listings), Christie’s International Real Estate has announced it’s sponsorship in the 2012 Tavistock Cup.

Televised on the Golf Channel in the U.S., Canada and Japan, the PGA Tour will be held March 19th and 20th in Orlando, FL. Other affiliated stations also air the coverage via live broadcast to the U.K., Latin America, Asia and South Africa reaching nearly 100 million households in more than 200 countries.

As an affiliate of Christie’s International Real Estate, Jackson Hole Real Estate Associates is excited to have the opportunity to benefit from such a prestigious worldwide advertising platform.

The commercial will be posted on the Christie’s website the day it premieres, March 19. Look for the Tavistock Cup under the homepage photo carousel for updates leading up to the tournament.

Celebrating its eighth year, the Tavistock Cup will return to Lake Nona-a Tom Fazio-designed course, which continually ranks among the top residential courses in the world and host to a number of international tournaments-to determine the World Golf and Country Club Champion. The competition between the Isleworth and Lake Nona country clubs and golf communities, both Exclusive Affiliates, was expanded just last year to include two international clubs: Albany, a new luxury resort in the Bahamas, and the exclusive Queenswood Club, a classic Surry heathland course outside of London. What makes this inter-club rivalry all the more exciting is that these four clubs represent the highest concentration of top-ranked golfers, collectively winning more than 825 worldwide victories, including 59 major championships.

Real estate sales in the Westbank area remained fairly steady in 2011 with 68 of 408 single-family, condo, townhome or vacant lot total sales in Jackson Hole.

Single-Family: 44

North of Wilson had $53.923 million in sales (excluding resort areas zoned for nightly vacation rentals) from a total of 20 homes sold, and South of Wilson had 14 totalling $33.7 million. Remaining sales include one in The Aspens at Jackson Hole Racquet Club for $1.15 million and nine in Teton Pines totalling $18.863 million. Together, the Westbank accounted for $107,636,000 million in single-family homes sold alone.

Condo/Townhome: 17

The Westbank recorded 17 condo/townhome sales in 2011 with 10 condos at the Jackson Hole Racquet Club averaging $383,450 and seven townhomes at Teton Pines averaging $820,714.

Lots/Vacant Land: 7

Excluding resort areas, Westbank had seven lots sold, three North of Wilson and four south of Wilson with a total dollar volume of $2,630,000 and $6,950,000 respectively.

Among the 87 distressed sales, only 14 were in the Westbank of which three were at the Jackson Hole Racquet Club.

Across the valley, 55% of single-family home sales were under $1 million, yet (the Westbank) North of Wilson had an average sale price of $2.696 million with a median of $1.395 million and South of Wilson had an average sale price of $2.408 million with a median of $1.405 million.

Despite a 33% decline in number of condo sales at Jackson Hole Racquet Club, the average sale price of $383,450 is up 18%. With condo inventory throughout Jackson being 21% lower than 2010, the 18% increase in price at JH Racquet Club could prove to be a promising example in an equity building scenario. In addition, for the first time in almost two decades, someone who can afford 10% down and has a good credit score can pay less in a mortgage than in rent based upon the purchase of many listed condos under $400k.

An affiliate of The Wall Street Journal, Barron’s Penta, listed Jackson as one of the 20 best places for second homes.

One year price changes of median home sales were used as an indicator with Jackson having a median in 2010 of $1.5 million and $1.2 million in 2011.  A significant increase in condo and single-family sales in the Town of Jackson show that investors may have already believed the same.

The Town of Jackson had the most sales in 2011 compared to Teton Village, Westbank, Middle Valley, North Valley and South Valley with 111 single-family, condo, townhome or vacant lot sales.

Single-Family: 44

Median sale price for single-family homes was $580,000 with a total dollar volume of $29.2 million.

Condo/Townhome: 61

Median sale price for condos/townhomes was $320,000 which is down 21% from 2010, however the number of sales are up by 22%.

Lots/Vacant Land: 6

Residential land sales averaged $224,000 with the most expensive lot selling for $350,000, and the least expensive lot for the entire valley of 0.22 acres at $193,900.

The Town of Jackson’s condo sales are significantly higher than 2010 and believed to be due to the convenience of living in town. At the same time, the increase could have a significant influence from investor purchases considering condo values are down by as much as 60%.

Of 87 distressed sales throughout the entire valley, 37 were in the Town of Jackson, which more than likely had an effect on a listing’s “Days on Market” considering time spent on a distressed sale is typically between 90 and 120 days.

The Town of Jackson is also being considered a hot spot for single-family homes with 44 sales.  South of Town had 45.

Back in October of 2010 HUD reduced the upfront Mortgage Insurance Premium (MIP) to 1.00% of the loan amount for FHA buyers. However, a recent announcement stated it will be raising the upfront MIP to 1.75% as April 1st, 2012.

HUD is also considering an increase of the annual MIP and reducing the seller contribution amount but has yet to be confirmed. If so, those changes are expected to take effect June 1st, 2012.

The proposal that would reduce the seller’s contribution amount would modify the current 6% to the greater of 3% or $6,000. This shouldn’t make much of an impact on buyers considering that on a $250,000 loan, the seller contribution is still $7,500.

FHA has become a popular option for condo buyers over the last several years considering the flexible qualification guidelines, however continued increases are likely to make FHA loans less desirable. Conventional loans may become a more preferred option since a well-qualified buyer can qualify for as little as 5% and in some cases, without mortgage insurance depending on the lender/available loan programs.

Reports of gray wolves have sparked some debate after a resident of the Indian Trails neighborhood captured some footage in his backyard.

There doesn’t seem to have been anything threatening to have happened as of yet, but the US Fish and Wildlife Service has planned to capture and euthanize the wolves before anything threatening does happen.

Concerned homeowners have pledged money for the cost of relocating the wolves rather than killing them, but the services wolf recovery coordinator Mike Jimenez insists that relocation won’t benefit the wolves in the long run. Jimenez has publicly shared his office phone number so that concerned residents can call and learn more about his decision to terminate the predators.

Mike Jimenez 307-733-7096

In the meantime, locals are being urged to keep their pets indoors and to keep an eye on children. JH Underground has done a fantastic job posting updates if you would like to get involved with the debate or even just see some impressive photos.

Ten Brokerages, Specialists in Luxury Real Estate, Join Leading Network of Experts in the Sale and Marketing of Important Properties

Last week I attended a conference in NYC as one of JHREA’s representatives for Christie’s International Real Estate. The educational and networking meeting included an attendance of almost 400 brokers from 13 states and seven countries at Rockefeller Center.

The agenda covered topics such as public relations, social media and various other digital solutions that compliment Christie’s global reach. Most importantly, Christie’s announced it has added 10 new brokerages since the close of 2011, expanding the worldwide network of the luxury real estate brand.

“In this increasingly competitive environment, where reaching qualified buyers worldwide is paramount, leading independent brokerages appreciate the need to align with an international brand,” adds Jarvis Slade, Head of the Americas, Christie’s International Real Estate. “After joining, Affiliates gain access to our proprietary marketing programs and services, our award-winning magazine, and our global Web platform. They best serve their important clients by promoting their listings in excess of US$1 million with elegance and effectiveness.”

In a desirable resort area like Jackson Hole, choosing the right real estate broker can literally make a world of a difference when it comes time to sell.   This is exciting for clients listed with Jackson Hole Real Estate Associates because we have continued to expand listing exposure as a Christie’s International Real Estate affiliate, and JHREA was 2011’s Affiliate of the Year for the entire world market; an incredible honor.