Jackson Hole Real Estate Survival Guide
- realtygroupjh
- Sep 15, 2014
- 2 min read
Make the Move!
Jackson Hole Real Estate Survival Guide
Know Your Options
Jackson Hole homes are moving but it’s still a tricky market.
Here’s a roundup of what buyers and sellers in the Tetons need to know.
As spring emerges from winter and transitions to summer, suddenly there’s an uptick of inventory in the Jackson Hole market.
It’s a prime season for buying and selling real estate in the valley coupled with the fact that business is warming up on a whole- mortgage rates are stable and at an all-time low- the lowest since October 2013 (as of today in fact).
The attractions of Jackson Hole- a world-class number one ski resort, the grandeur or treasured national parks and Wyoming’s status as effectively the most tax friendly state in the US, have put this extraordinary place on the top of consumers wish lists.
Still this market requires careful navigation. Buyers need to be up-to-date so that they may act swiftly in the interest of achieving a property in their price range. Conversely, sellers must consider the prospects and drawbacks of shooting for above-ask pricing (with limited inventory) versus the potential of watching their property linger in a still, somewhat, ‘sitting in limbo’ Jackson Hole real estate market.
Be Cautiously Optimistic:
Financial movers and shakers are feeling more positive about investments in real estate but the $5M+ single home segment of inventory moved in 2013 remains sluggish.
Mind the Sweet Spot:
The under $2 million category is a crazy fast moving market. Sellers should consider making the leap of faith to sell their home.
Spruce Up:
Attention Sellers! Stay up-to-date on the conditions of the market and consider investing in highly desired amenities – like a hot tub- to emerge on the better side of an offer or a pass.
Less Ownership Headache:
Condo-owned hotels like Teton Mountain Lodge & Spa and Hotel Terra Jackson Hole are increasingly popular in a price-conscious vs. use consumer category. Buyers may forfeit the added expense and square footage Teton Village single family home options for smaller properties requiring less maintenance. The ease of ownership, access to amenities and the slopes of Jackson Hole make for strong selling points.
Turn Key
Turnkey is increasingly popular in Jackson Hole. Houses that are up-to-date and in move-in condition tend to move more quickly. The once-widely popular historic architectural trendy nod to the log cabin is being replaces and updated with a more modern take on mountain luxury, realizing cleaner lines, more light and increasingly open floor plans.
Buyers At the Ready!
In a fast moving market with limited inventory, buyers who have their ducks neatly in a row and moreover, those who are ready to pull the trigger, will realize greatest success. Pre-qualified bidders with pre-approval paperwork, inspectors ready to go, can finally stand a chance against the big kids and kings of the marketplace: cash buyers. Sellers are generally keen on buyers who can act with speed. Certainly having financials together is the fastest way to getting the house you want in Jackson Hole.
Up next: MARKET WATCH:
$1-$3 Million
Arming you with information.
Comments