4/3/08
Is this Really April??
 | By Jack Stout Read more of Jack's posts |
I took the day off from work Tuesday (some would say this is an oxymoron) and went touring off the back of the ski area. April 1, really? Felt more like mid January. Knee deep powder, cold temps, and some of the best skiing I've had all year. Everyone I ran into had this same sort of sheepish grin, shaking their collective heads in amazement as to the conditions, great by any standard but just plain silly for April.
Poor Larry King, this is not what he needs at age 74.
Here’s the latest on the moratorium being debated by the County Commissions. Seems like they are trying not to anger too many folks. Personally, when being asked to chose between letting all the development happen South of Town or a moratorium, I don't like either choice. It’s like going on a camping trip and having to choose between Hillary Clinton or Rosie O'Donnell as your tent mate. Neither is particularly appealing.
Last week I mentioned an article in the Financial Times which quoted various people that the Jackson real estate market was slowing down a lot. below is a reply from the President of the Teton County Board of Realtors
“Friends and Clients-
In a recent article the Financial Times cited that the real estate market in Jackson Hole plummeted 42 percent the end of last year as compared to the year before. They further quote that these statistics originated from the National Association of REALTORS.
( “Other expensive areas of the west have been hit. In Wyoming, home to the mountain resort of Jackson Hole, existing home sales plummeted 42 per cent in the fourth quarter of last year, according to the National Association of Realtors. That was the second worst showing in the nation. Only Nevada, with a 44 per cent drop, fared worse.”)
This past February as the 2008 President of the Teton Board of REALTORS, I attended the Wyoming Association of REALTORS mid year legislative Session in Cheyenne. During this conference our National Association of REALTORS’ representative requested that each County MLS Board send their sales statistics every month so that NAR would have accurate information to disseminate. At the time of the conference only 2 counties in the entire State had been sending this report and according to these 2 Wyoming counties the numbers used were incorrect and erroneous.
As the Teton Board of REALTORS had never been asked, prior to this session, our sales report was only first sent mid march-just 2 weeks ago. I do not know how the Financial Times could offer such a damaging report without any confirmation of their information.
In fact the last quarter of 2007 was down only 19.6% from 2006 but saw a 5.6% increase in the dollar volume of sales for single family homes in Teton County from $147 million to $164 million.
It is inexcusable that such an important article could provide such bad information.
Our Teton County real estate market is strong and although I believe there has been a healthy correction in pricing as compared to last year we anticipate a very active selling season this spring/summer.
Apparently the development near the corner of Scott lane and Snow King Ave. has been put on ice by the developer and he actually shopping it around. It’s completely approved for 40 something units, ready to go. The issue is getting proper financing. A sign of the times?
A special shout out to those ranchers down in the Pinedale area who managed to kill 3 wolves in the first three days they were de-listed from federal government’s endangered species list. Who needs a balanced ecosystem anyway??
Real Estate:
4br/3ba 2200 sq. ft. townhouse in the Snowridge building in Teton Village, built in 1972, remodeled in 2000, listed for $1,795,000, Under Contract.
2br/2ba Golf Creek Cabin, located on the 3rd tee of JHG&T, 1300 sq. ft, built in 1979, remodeled in 2006, 1 car garage, LISTED for $945,000. Pretty aggressive.
4br/4.5ba 4200 sq. ft Granite Ridge Lodge Unit, not on slope but still ski in/ski out, built in 2001, 2 car garage, LISTED for $4,275,000, UNDER CONTRACT
4br/2.5 ba Yampa unit in the Aspens, built in 1978, 1647 sq. ft., no garage, no mountain views, LISTED at $995,000 - CLOSED $965,000
2br/2ba Townhouse in Rafter J, 1135 sq. ft. built in 1983, remodeled in 2004, 2 car garage, no views, LISTED for $700,000 CLOSED $660,000
599″ as of Today with more expected this weekend. Safe to say the best winter I've seen in the 18 years I've been here.
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[…] Is this Really April?? mehrmarketing wrote an interesting post today onHere’s a quick excerptI took the day off from work Tuesday (some would say this is an oxymoron) and went touring off the back of the ski area. April 1, really? Felt more like mid January. Knee deep powder, cold temps, and some of the best skiing I’ve had all … […]