12.22.09

Jackson Hole Foreclosures: Teton County, WY (JH) has now seen 46 real properties revert back to the banks in 2009. There’s been little success at the foreclosure sales where buyers have the opportunity to bid on real property. I have up to date information on FORECLOSURES and existing SHORT SALES in the area so contact me for the latest information.

12.18.09

Teton Village Update:

Great news…the new Aerial Tram will be opening tomorrow as well as the Sublette and Thunder chair lifts. The Gondola opened yesterday and the Casper chair opens today to allow for many more choices for the upcoming holiday season. 

There’s a PUBLIC OPEN HOUSE today in Teton Village from 10:30-2:30. About 30 homes and condos will be available for viewing. There are some great deals in Teton Village this season.

12.12.09

More snow expected all weekend! There are lots of bodies buzzing around the Village today in hopes of finding some softer snow on the mountain. 

Motivated Sellers- there is a supply of motivated sellers in the Teton Village market. Annual absorption has been low and there are some great deals.  Search the MLS on my site and look at specific properties.  If you’d like a short list of the hottest options, please email or call and I’ll provide the best options today.

Teton Village- There’s an A+ residential vacant lot available that might be the last and best ski-in/ski-out site left in Teton Village. There’s a very private single family home listed at $29M and it’s truly one of a kind for location and size. There’s a prime location commercial redevelopment building for sale at $16.5M.  Some of the condo/hotel properties have traded recently in the $900-$1000 per square foot range.

12.11.09

It’s snowing in Teton Village!  Our company’s new office location at the Village Center is up and running and decked out with all the best tools in the business.  Wyoming as a whole is fairing very well in real estate. There are only four other states in the country that have fewer foreclosures (Q3, 2009) and Wyoming is one of only six states that are trending toward even fewer foreclosures moving forward. This is great news and it correlates with the activity we’ve seen lately in the Jackson Hole market.

11.11.09

October and November have shown positive signs of increased real estate activity in Jackson Hole.  As more motivated sellers need to sell and more ’short’ sales are becoming apparent, the Buyers are willing to accommodate. The market values will most likely continue to be flat or decline as we press into 2010. The degree of inventory absorption will determine how quickly the Jackson Hole values will turn around in the future. The relative low inventory across the whole valley and the fact that Wyoming is our country’s #1 tax-friendly and wealth-friendly State will assist in preserving higher values than other resort destinations in the Rockies.  Our valley is truly an island among a sea of federally controlled land and large tracts of permanent conservation easements. To learn more detail on the market conditions or to receive some literature on why Wyoming is #1, please contact me and I’ll respond promptly.

10.8.09

There have been many new pending sales recently, included in MLS and outside MLS. The most notable recent sale was for a single family home on the westbank somewhere between $12M and $15M - the transaction was undisclosed.

Foreclosures: Most local foreclosures have not captured a bidder.  A local banker just provided a study showing that the Jackson Hole foreclosure rate, on a per Deed basis, is about 3.1% of the national average.

9.18.09

For the first time in two+ years we have now had three consecutive months of fewer new listings as compared to the same months the previous year. June, July and August of 2009 each produced significantly less new listings in Jackson Hole compared to the same month in 2008. Respectively, the month vs. month percentage decrease has been 14%, 30% and 38%. This is an encouraging harbinger that inventory levels have started to plateau and comfort is being restored to some degree. In the last several weeks there has been much more buyer confidence coinciding with sellers who are willing to negotiate.

8.24.09

Confidence Surges in Jackson Hole:

The Jackson Hole Real Estate market has been showing positive signs of stability lately; more showings, more offers and more pending contracts. There has been much more activity compared to early summer with Buyers showing more confidence and Sellers understanding today’s reality. The seemingly stable stock market coupled with low interest rates and a rebounding national housing market have all contributed to greater transactional volume in Jackson Hole. JH’s minimal private and developable land, less than 3% of the total acreage in Teton County, WY, continues to attract capable buyers from around the globe and patient locals are also able to capitalize on better values in today’s market.

Teton Valley, Idaho: There has been good activity in Teton Valley recently as well. Many Mountain Meadows homes in Teton Springs have gone under contract and closed which appears to show the ‘bottom’ has been discovered. Based on the current inventory levels across the whole valley, they will most likely continue to have a slow incline coming out of the most recent doldrums.

8.3.09

If you didn’t get a chance to read the recent front page article in the Jackson Hole News & Guide about today’s market reality I have it in a PDF attachment if you wish to receive it.  Please email me.  There’s been some encouraging activity in the local market - Homes in Spring Creek Ranch and in John Dodge closed for nearly $6M and just over $5M, respectively. For the first time in 2009 we’ve had two months in a row with a lower quantity of new residential listings as compared to the same two months in 2008. Perhaps August’s totals will show three months in a row? Long-term confidence in Jackson Hole real estate has not disappeared, but with the DJIA showing signs of stability this could be partial reason for some recent positive activity.  

7.14.09

The digital version of our 2009 summer real estate brochure is now available. Please see link below and copy/paste into your URL:

http://jhreapublications.com/summer2009

If you’d like a hard copy version please email me with your relevant information and I’d be happy to mail one to you.  Of course, if you prefer to maintain a smaller footprint and edge on the ‘green’ side of life, then please enjoy the digital version and forward it to anyone else who might like to browse Jackson Hole’s most recent inventory. Happy Bastille Day!