9/6/06
Real Estate of Jackson Hole Sold?
 | By Jack Stout Read more of Jack's posts |
I heard last night that Real Estate of Jackson Hole, the second (or first?) largest real estate firm in Jackson sold to a single local buyer and is set to close next week. I consider my source a good one, I'm just not entirely sure what the terms of the deal were and how much of an ownership stake was purchased. Knowing what I know about the supposed Buyer, I'm confident it was a majority stake. No word on what the price was, but needless to say it is a big number.
According to the MLS 12 properties closed last week in the Victor Driggs area. 26 properties closed in the Jackson/Wilson/Teton Village area including 5 in the Jackson Hole Raquet Club.
Speaking of the Victor/Driggs area, I was playing golf at Teton Springs in Victor on Monday, which by the way is a fantastic course, and I was shocked at the amount of new construction that was going on. At one particular tee box I could see 26 houses visibly under construction. My guess is there is at least 60 homes going up there. Some will be owner occupied, but I know many of them are speculative. It begs the obvious question of “will all these places sell before they run into cash flow issues?” They start at $1,150,000 for 2300 sq. ft. and go as high as $2,775,000 for 6300 sq. ft.. Golf memberships cost $60,000 with about $365 p/m dues. As I said the course is beautiful and the views are great. It’s probably best for someone who won't be spending much time here in the Winter.
One thing that they don't have in Victor is views like the one below, taken a couple days ago on a mountain bike ride after work on the Ferrins trail, located on the east shoulder of Snow King.
If you enjoyed this post, make sure you subscribe to my RSS feed!
