Jackson Hole Real Estate Blog

Saw this Bear hanging out off the Moose-Wilson Rd.,while on a bike ride last Sunday morning. And this fox on the course at Teton Pines that same afternoon.

Here’s an interesting article about the rising airfares in the area.

I was up at the Village yesterday and took these pictures of the new Tram Building and the actual cable that is going to pull the cars up and down. It’s amazing how thick the cable is. Putting the cable on the towers is not going to be easy.

Speaking of which, all of us have been bemoaning the cold snowy weather we had this spring, but we had it easy compared to the poor guys working 6 days a week trying to get the Tram built in time for a December opening. If yo thought the weather was bad on the Valley floor, imagine what it was like up at 9000′ trying to put a 100′ tower together. Misery.

It looks like the spring/summer run off is finally peaking. I'm guessing that it will be July 25th or so when the Snake finally clears up and becomes fishable.

It was sad to hear about the death of George Carlin. These days we need people who can make us laugh more than ever. (”I am” is reportedly the shortest sentence in the English language. Could it be that “I do” is the longest sentence? )

Real Estate:

I'm going to say what most Real Estate agents do not want to say. Certain parts of the market in Jackson are slowing down. Granted, the Buyers, and the money, usually shows up a little later in the summer, but there are some signs that tell me this summer might be a little slower than most for residential sales. (the commercial building is going crazy, both in town and Teton Village) Consider the following:

There are 54 listings in the MLS for properties located within the Town of Jackson betwen $450,000 and $800,000. Last year at this time there were about 15, on a good day.

There are 21 listings for sale for under $5,000,000 (lowest is $784,000) within a 3 mile radius of Downtown Wilson. This is unprecedented for Wilson. This does not count Teton Pines or the Aspens. It’s my feeling that many of these are overpriced and Sellers who are will to give a little on their prices are probably the ones who will sell their properties.

Speaking of Teton Pines and the Aspens, there are 42 listings in the MLS for these two areas, 29 in the Aspens alone

Teton Village is a an interesting situation. There are 56 places for sale in Teton Village and that number will probably go up as the second phase of Hotel Terra come on line as well as when the Golf Cabins at the new Shooting Star golf course are finished. I suspect a lot of those owners will try and flip them as soon as they close on them. However, all or most of the Golf Cabins, at around $4,000,000 or more apiece, have been spoken for. Interestingly, when talking to people in the hotel/rental business in Teton Village, they will tell you the demand for condo rentals and hotel rooms over Christmas/New Years is very, very high. (read: book now, especially airline tickets) I have to believe this is due to the buzz surrounding the new Tram and that last year we just had an incredible ski season. That makes me think that with all the press the new Tram is going to get this fall, combined with the new golf course (which looks really, really nice), prices in the Village to see a bit of a spike again. I do believe that all the potential that people have seen in Teton Village over the past 15 years or so, is finally going to be realized. That being said, the Teton Village that many of us have known(and loved) for all these years is probably being shown door. The change began when the Four Seasons opened it’s shop 5 years ago and things, I believe, are really going to accelerate over the next few years. Whether it’s good or bad is open for debate, but the fact that it’s changing, and changing fast, is not.

Looks like the Yankees are finally getting a little traction and the Red Sox have found the quicksand. What a shame.

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Posted by Jack Stout in Real Estate |