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Jackson Hole, WY Real Estate News

By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
Our great local paper the News and Guide is now available on-line.  The publisher will let you sign up for a trial subscription to check it out then you can sign up to pay for it if you decide you like it.  It is not only an eco-friendly option but you get it as soon as its published.  If you live out of town or travel for part of the year its a great way to stay informed about the community while on the go.  Give it a try by following the link below.  Hopefully they'll get the Daily going sometime soon as well.... http://newsandguide.pressmart.net/  
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
There was press that came out several weeks ago in an article titled "Real Estate in the Doldrums".  In the article  an experienced local realtor was quoted as saying you had to have a perfect credit score and a huge down payment to get a loan.  We've spoken to several of the local banks and they offer a different insight.  Many of these local banks have been involved in this real estate market for years and they understand its underlying value.  In addition they are saying they have money to loan and are willing to work with any customer we bring them to assist in the purchase of a property.  With lower prices and ready access to money there may never be a better time to buy that property you've been dreaming of in Jackson Hole.  I think each persons situation is different and whether ...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
The Teton Club is Jackson Hole's premier fractional ownership club located at The Jackson Hole Mountain Resort.  The club is located adjacent to the new tram in the best ski in/ski out location on the mountain.  Many people confuse fractional ownership with time shares however they are completely different.  In a time share you own the right to use a property however with a fractional ownership you actually own a piece of real estate.  It is the most practical form of ownership because you only own what you plan to use.  This hassle free ownership allows you to focus on your vacation and your family not maintaining a property or worrying about renting it out.  I tell people its home ownership with all the amenities of a resort.  You have a 24 hour concierge at your service with bell men...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
This course is not scheduled to open until the summer of 2009. We were lucky enough to get a tour with the General Manager and one of the realtors involved in project sales earlier in the season. Today we had a chance to tour the impressive Club House project which should open next summer along with the golf course. In a word this course is amazing. The design is such that it "looks hard but can play easy", according to Mark Aulerich, General Manager. If played from the tips this course is something like 7,700 yards. The really nice thing about this course design is that you don't feel like your playing amongst houses like some golf course developments. The real estate components were all clustered near the main clubhouse or to the south and west of the course. Its a very open design an...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
Woke up this morning to snow fall, maybe we'll get some much needed coverage although the weather report is only calling for 1-3 inches.  Generally the higher elevations seem to gather a little more.  The mountain resort currently only has a couple of runs open but they are making snow where they can as the temperature has been perfect for that.  The tram is still set to open on the 20th of this month after the big opening party the night before.  Here is a picture I snapped off my front porch of the winter sunrise the other morning.
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
I get a lot of questions from customers and clients regarding the state of Jackson's markets.  The most common question is regarding whether Jackson has seen the same type of market decline as other areas.  Let's be clear about one thing, Jackson (or Jackson Hole) does not exist in a bubble, unaffected by outside influences, as many have said for years.  While it is true that Jackson has a unique market when compared to other Rocky Mountain towns, and the rest of the country for that matter, it has experienced declines over the last year which are unprecedented in its history.  People also ask me when I think the market will recover and start providing the great investment returns it has in the past.  To that I say I wish I had a crystal ball and could tell you.  You see unlike past dow...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Took this from my back deck. Just liked the way the light and clouds made a halo over Snow King Mountain in Jackson, WY. The effect only lasted about 5 minutes and I've never seen it happen again. The streak on the right is a jet contrail. Picture taken in April 2004.
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
I send out occasional emails with market statistics to a list of friends, associates and clients.  I've had a few questions from people about how ethical it is to get email addresses and start sending out emails randomly.  First I never send an email to someone I don't know, that is called spamming and everyone hates that.  As Realtors we must understand email addresses have become intensely personal almost like a cell number. We should always treat that with the utmost of respect.  Here a re few talking points I've come up with when I get questions about email marketing: Know the people personally that you are emailing, ask permission if need be. Set the expectation with the recipient on frequency, don't continuously email them about every little thing. Let them know that email is good...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
A fried of mine from San Diego called me yesterday to let me know that the San Diego Union Tribune ran an article on Jackson Hole.  The article, on the front page of the travel section, was about the steep and deep ski camp conducted at Jackson Hole Mountain Resort.  The article touted the great skiing here in Jackson Hole and all in all was really well written.  To check it our on line click on the link below: http://www.signonsandiego.com/uniontrib/20081130/news_lz1t30snow.html    
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
Sales for November 2008 slowed as compared with October and with November of 2007.  Although it is a seasonally slow time for real estate sales the numbers are still lower.  In November of 2007 we had 136 transactions in the total MLS with a dollar volume of $114.6 M contrasted with last month where we had 44 transactions for a total dollar volume of about $43.4 M.  This dollar volume was heavily influenced by a large residential transaction that was listed for over $19.9 M.  We still see activity in the upper end of the market holding up overall activity.  We also fewer transaction in the Jackson area (9 out of 44) and inventory in Jackson rise to 670.  Interestingly most of the transactions closed during the last half of November explaining why we seemed to get off to a slow start las...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
  Hello all, At Contour Properties, we have over 20 listings of investment property in Jackson Hole, Wyoming. Our listings include retail shops, office buildings, land for development, and light industrial opportunities. You may not know that Teton County, home to Jackson Hole, consistently ranks in the top three wealthiest counties in the United States, according to the Internal Revenue Service. That wealth ensures a stability in our market unmatched by too many other markets. For information on investing in Jackson Hole, call or come visit us while on vacation. It's no mystery why so many people want to live and invest here - it's just that gorgeous. Jackson is the southern gateway to Yellowstone National Park and is in the heart of Grand Teton National Park. Unparalleled skiiing, wh...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
Jackson Hole is often viewed as a summer destination because of the wealth of outdoor activities one can particiapte in. It is no secret that the National Parks are a big part of that attraction.  In winter time most people think of Jackson Hole as a premier ski destination, and while it is one of the best mountains in the lower 48, it is so much more.  The town has a population of around 10,000, which spikes in season where second home owners come to enjoy the area to maybe 12,000.  The entire county only has a population of about 18,000 but for an area of it's size Jackson has a truly amazing selection of social and cultural events for your entertainment.  This winter you can see the production of Scrooge playing at the Center Theater at the Center for the Arts downtown.  If you're a ...
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By Rick Armstrong, Jackson Hole Real Estate
(Jackson Hole Real Estate Broker RARE Properties Real Estate )
Jackson Hole Mountain Resort set to open Novemebr 29th, 2008. The earliest opening ever.   The big question is will it happen?    Upper mountain snow is good from skier report on Teton pass.   the temps are allowing them to make snow on AV (Apre Vous) .   So the answer is - we will see.
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By Rick Armstrong, Jackson Hole Real Estate
(Jackson Hole Real Estate Broker RARE Properties Real Estate )
The Spud drive-inn has offically closed for the season.   But let's not forget next season.   To get to the Spud- Take Hwy 22 west from Jackson to Wilson then over Teton Pass into Victor, Idaho.   Continue on the same road until you see "Old Murphy" pictured above and of course the screen.   When you are there, don't forget grab a burger and fries.  It is like stepping back into the 50's and the food is great.   It was ranked as the best drive by Entertainment tonight.  It is also registered in the National Register of Historic Places.     The movie are usually current releases. The peopl are great and it makes for a classic experience.    
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By Rick Armstrong, Jackson Hole Real Estate
(Jackson Hole Real Estate Broker RARE Properties Real Estate )
Jackson Hole continues to see a major slow down in sales.     Price reductions are abundant.   The continuation of the stock market decline and weakness in the national and global economies have continued to put downward pressure on pricing.   Many sellers of Jackson Hole  properties have not become realistic in pricing.   It is what I would call denial.  My advice to sellers is do not sell now unless you have too.  If you have to sell now, price your real estate way below what everybody else has similar things priced at.     If you are looking to buy into the  Jackson Hole real estate market,  the time is starting to get good.   There have been a few exceptional values in our market.    One thing to remember is you are buying into Jackson Hole.  One of the most pristine enivirons in th...
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By Jason Woodward
 Conveniently located three miles from the town of Jackson, Rafter J is a favorite community for full-time residents and families. With most homes around 2,000 square feet and lots of mature landscaping, Rafter J offers a unique blend of value, small-town atmosphere, and incredible scenery that makes it both one of the most in-demand subdivisions. The history of Rafter J began in 1978 when Floyd King, Jerry Wilson, and Chuck Luton purchased the 600 acre Arthur and Phyllis Brown Ranch. They subdivided the land into 360 lots of .25 to .5 acres in size. It was the first PUD in the county, and 60 percent of the development was put into open space. The remainder of the development was used for clustered home sites. The lots were originally going to sell for $12,000. However, by the time the ...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
In a story in today's Jackson Hole Daily it was reported that the Puzzleface Ranch's sellers have reduced their asking price by 30%.  The 225 acre ranch is located between Jackson and Wilson on Highway 22 and has been on the market since the fall of 2006.  The original asking price was $25M but slowing market conditions have caused prices to adjust back down as less buyers enter the market.  This is in-line with price reductions we've seen on residential properties as well as buyers and sellers grapple with what "market price" will start to settle at.  For seller's who need or want to sell they are dropping their price by 20-30% off of last years highs.  We expect to see this continue until we see a stabilization in the housing market through a real government stimulus. Having said that...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
The Living In Jackson Hole website is now an advertising sponsor with Leapfish.  Leapfish is the first multi-dimensional information aggregator and search portal in the world.  You can search the 3 major search engines with the click of a button and get results fast.  Leapfish is not a search engine, it uses the search engines to find the information then presents it to the user in an easy to read format.  The results are not a list like you get when using the search engines by themselves witht he different forms of information clustered together.  Leapfish organizes the data by type (i.e. search results, images, videos, blogs) so the user can easily find what they are looking for.  The default search engine is Google but with the click of a button you can also get the results using Yah...
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By Jason Woodward
 With stunning, protected views of the Tetons, the 14 lot subdivision of Pine Meadow is comprised of spacious, yet private homes that have access to a variety of excellent fishing streams and ponds.  Pine Meadow was originally part of a USA Patent to James Harmison in 1908. Through the years, the land was passed on to family members until the 1930's when parts of the land were sold to A.E. Ward, Helen and Henry Weston, and Alvin Ostler. Until the early 1950's, the land continued to be bought and sold several times before it was purchased by Albert Schwabacher Sr. and his wife May K. Schwabacher.  Schwabacher was a California investor who was also an avid fly fisherman. He originally came to the Jackson Hole area in the 1920's to look for fishing areas and bought what is now Lost Creek R...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
We are pleased to announce another great addition to the Living In Jackson Hole Team.  Chip Marvin, an Associate Broker with Real Estate of Jackson Hole, has decided to join the team.  Chip brings a valuable skill set to the team with his innovative approach to marketing and client management. Chips Short Bio An Ohio native and Middlebury College graduate, Chip is a 17 year Jackson Hole resident with a background in publishing, marketing, project management and 6 years experience in the real estate industry. People choose to work with Chip because he listens intently to their needs, works hard on their behalf, and gives his all to easing the stress of purchasing or selling a home. A founder of  the Farmers’ Market on the Town Square, avid skier, whitewater kayaker, and mountain biker wi...
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