Global Economic Insights: Economic Factors Causing Uncertainty

In the latest edition of Global Economic Insights, LeadingRE’s Chief Economist Dr. Marci Rossell, Ph.D., addresses the temporary economic factors causing uncertainty.

The beginning of 2019 has already experienced disruption with the
shutdown of the U.S. Government. While the shutdown has come and
gone, the economy is still facing other temporary factors that are causing

Factors causing uncertainty:

• Brexit is creating uncertainty in the global financial environment.
• The trade war between the U.S. and China continues.
• The Federal Reserve is tacitly tightening monetary policy as an effort to reverse many years of quantitative easing.

Economic uncertainty creates three different responses:

  1. Irrational Response – These consumers are not making any investments. They hold on to cash or invest in gold.
  2. Rational Economist Response – These consumers see the current economy as a buying opportunity.
  3. “Wait and See” Response – This is the most common response and falls in between the first two responses. These consumers wait for the uncertainty to dissipate before making any type of economic decision.

The factors causing uncertainty are temporary and most will dissipate near the end of the first quarter of 2019. When that happens, the global economy and U.S. economy are likely to go back to a trend of 3% growth, year-overyear, which will be good for the markets, good for employment and good for real estate.Irrational Response – These consumers are not making any investments. They hold on to cash or invest in gold.

Contact Christy and Garth Gillespie for more information on the real estate market.

Teton County 6th Healthiest Community in the Nation

The U.S. News Healthiest Communities rankings was recently released and Teton County ranked 6th on the list. The ranking measure crucial health-related components of society with the aim of empowering citizens, health care leaders and officials to make decisions about policies and practices that can improve health outcomes for all. 

How well and how long you live are shaped by where you live. Local health outcomes are often driven by factors like a community’s economic performance, the strength of its education system, the availability and affordability of housing and myriad other elements that affect residents’ overall quality of life.

Population health, environment, infrastructure and education scoring the highest.

See the full report and raking list here. If you are interested in learning more about living in Teton County, please reach out.

Another Record Year


Another year for the books! Last week, Jackson Hole Real Estate Associates commemorated another landmark year as the region’s leading real estate brokerage at the annual Year-End Awards Dinner. Marked by a night of revelry, the company celebrated its agents’ many successes throughout 2018, which included continued growth company-wide, personal milestones and collective achievements.

We joined our many colleagues and were awarded the Chairman Award for consistently being top producers and dedicated to our community, clients and company. A big congrats to our entire team for a year of many accomplishments!⁣

The camaraderie, energy and professionalism at Jackson Hole Real Estate Associates is unique, Owners, Matt and Julie Faupel, told the group during a champagne toast—not only locally, but nationally and even globally. Agents’ teamwork, and hard work, helped drive another remarkable year.

In 2018, Jackson Hole Real Estate Associates’ production increased 37 percent in sales volume and 33 percent in gross commissionable income year-over-year. The number of transactions grew 16 percent, once again establishing JHREA as the region’s top-performing brokerage.

Additionally, over the past year Jackson Hole Real Estate Associates opened a new office in Teton Village and remodeled its Thayne and Driggs offices. The company is also expanding its presence in Wyoming and Idaho, which will be announced soon.

From company owners, “those are no small accomplishments, and they owe entirely to agents’ dedication and professionalism.”

Want to learn more about our leading brokerage and real estate services, we’d love to hear from you.

Everything You Need to Know to Plan a Trip to Jackson Hole

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The very popular Goop recently posted an article on everything you need to know to plan a trip to Jackson Hole, and we thought we would share it with you here. Jackson Hole is a skier’s town—a place where the ski-obsessed will find fierce steeps, chutes, and plenty of tree skiing across the mountain’s 2,500 acres. But it’s also a place where you can choose your own adventure—on or off the slopes. We love the mix of excellent restaurants, world-class hotels, and amazing vintage shops. And it’s only gotten easier to visit—during the season, there are nonstop flights from almost every major city in the US. Read more on where Goop recommends where to sleep, eat, drink, apres and shop.

The West Lives on in Jackson Hole

Jackson Hole is a place of adventure. The valley’s rugged beauty attracts visitors from around the world, and its grandeur is matched only by the personalities of those who call it home. It should be no surprise that the Last of the Old West has a long and storied past that carries on still today. Under the shadow of the Grand Tetons, the West lives on in Jackson Hole.


The Early Pioneers

Long before Jackson Hole was settled by Western pioneers, Native American tribes frequented the area. The region’s abundant wildlife provided seasonal hunting grounds for the Blackfoot and Shoshone Indians, who would make camp in the valley following the spring thaw. Harsh winters, however, limited their stays to the summer months, after which the tribes would migrate to milder climates.

Responding to ads in East Coast newspapers calling for hunters to be deployed to the Rocky Mountains, the first fur trappers arrived to Jackson Hole in the 1820s. They were met with a bounty of ecological diversity, and the region became a crossroads for at least six major trapper trails. These early explorers would host annual rendezvouses, and word soon began to spread about the area.

It wasn’t until the mid-1880s that the first settlers arrived to the area, but within a decade the valley was dotted with cabins and early settlements. Many of these structures survive today, like Menor’s Ferry near the headquarters to Grand Teton National Park and Cunningham Cabin, which is the oldest standing cabin in the valley.

These early settlers braved long winters and short summers to begin some of the area’s first successful cattle operations. It was a tough existence, but the first ranchers capitalized on the region’s lush growing conditions to raise alfalfa hay and oats, which they would then feed to livestock in the winter. Their herds contributed to the cattle trade that was burgeoning across the West.



Jackson Hole Comes on the Map

Around the turn of the 20th Century, as railroads facilitated commercial travel, visitors began arriving to Jackson Hole in greater number. Many were drawn by the region’s now renown hunting and fishing, along with stories of the area’s natural wonder, creating a boon for local outfitters. This, in turn, gave way to the emergence of dude ranches, which allowed guests to experience the Western life that was being popularized throughout the country.

Jackson Hole’s dude ranches provided an authentic, immersive experience. Many would put guests to work tending to horses and cattle, in addition to hunting, fishing and pack-tripping. The first of Jackson Hole’s tourism, dude ranches began to propagate the area’s stunning beauty in earnest.

In 1914, the Town of Jackson was incorporated. Though small, it offered conveniences that catered to visitors. Fifteen years later, in one of his final acts in office, President Calvin Coolidge dedicated 96,000 acres in Jackson Hole as a national monument.

The same year, 1929, Congress established the land dedicated by President Coolidge as Grand Teton National Park. At the time, it was a controversial move. Many considered it a land grab by bureaucrats back East. Ranchers and outfitters, especially, opposed the decision, and many refused to sell their property. Some of these “inholdings” can still be seen inside the Park boundaries.

In 1949, John D. Rockefeller – who, after visiting Jackson Hole, had begun to purchase up many of the area’s ranches and outfitting business through the Snake River Land Co. – donated his land holdings to be incorporated into Grand Teton National Park. Today, the Park spans over 310,000 acres.



World-Class Skiing Discovered

With the emergence of air travel, and as tourism in the Teton region continued to grow, the Jackson Hole Airport was built in 1930s. At first it was little more than a dirt runway. But it was slowly developed, and soon commercial flights began arriving. In 1943, the airport was declared a national monument, and in 1950 it was incorporated into Grand Teton National Park. Today, Jackson Hole Airport offers non-stop service to 13 destinations, and it remains the only airport in the continental U.S. located in a National Park.

With the designation of Grand Teton National Park, an airport and automotive travel becoming popular, Jackson Hole’s tourism began to boom in the latter half of the 20th Century. From the adventure seekers to casual travelers to those looking for a retreat at the area’s newly emerging resorts, visitors from around the world began to flock to Jackson Hole.

In 1964, construction of what is now Jackson Hole Mountain Resort began, and, in 1965, Jackson Hole Ski Corporation opened Après Vous Mountain. Snow King Mountain Resort, which first began operating in 1939, had already popularized Jackson Hole’s alpine skiing, and quickly the valley became known for its world-class slopes. Jackson Hole remains one the country’s top destinations and has consistently been ranked the top ski town by ForbesSki Magazine and numerous other publications.

Jackson Hole Today

Cradled in the lap of the Grand Tetons and surrounded by natural beauty that will be preserved for generations to come, Jackson Hole remains the premier destination of the Mountain West. There may be fewer cowboys saddled up at the iconic Million Dollar Cowboy Bar, and the cattle herds have thinned. But make no mistake, the Western spirit is still vibrant here.

We invite you to experience this remarkable destination. Contact Us to learn more about the area and experience the Last of the Old West.

*Article courtesy of Jackson Hole Real Estate Associates blog and images of Time Magazine and Jackson Hole Historical Society

Triple H Ranch

Jackson’s Finest Home and Horse Property Only 15 Minutes from Town of Jackson


from north across pasture

When driving south from the town of Jackson, the valley’s rich ranching history unfolds as the wide open hayfields roll by and the panoramic mountain views stretch from horizon to horizon. This rural community, bounded to the south and west by the Snake River and commonly referred to as South Park, abounds with horse property. This area was known as a natural winter range for the area elk herds before ranching arrived in the valley in the late 1800’s, but now provides a backdrop for some of Jackson Hole’s finest homes.

Few estates offer as complete a package as this ranch on 15 acres less than 12 minutes from downtown Jackson. The large, fenced and irrigated pasture stretches north from the meticulously crafted, 5,025-square-foot home, creating a sublime frame for the entire Teton Range. A large, attached 2-car garage is augmented by a separate double-sided garage/barn with finished space upstairs, and a third oversized 2-car garage/shop with tack room, stable and additional finished living area on the second floor. With generous parking areas, paved walkways, a trout pond and a well-planned functional layout, there is more than enough room for all your vehicles and recreation equipment.


Across the pond from the main home is the intimate yet well-appointed 1,000-square-foot, 2-bedroom, 2-bath guesthouse. Enjoy uninterrupted views of the Snake River Range, Munger Mountain and national forest from the large, wrap-around deck just steps from the burbling seasonal stream that traces the western boundary of this property. Sold exquisitely furnished, these dwellings exude comfort and a style distinctly Jackson Hole.

Interior highlights include a gourmet kitchen, home theater, large bedrooms and comfortable living areas that feature views from every window, hydronic heating, 3 gas fireplaces, and much more. This one-of-a-kind property must be experienced to be fully appreciated.



Just Sold: Trouts Landing in Dairy Ranch

Located on 21 acres less than 5 minutes from the town of Jackson, Trouts Landing is truly Jackson Hole real estate like no other with over 1,100 feet of prime fishing habitat on a year-round spring fed creek and a timeless 6,524 square foot home. The home was designed to incorporate the outdoors –there’s a running stream which flows throughout the property leaving you completely relaxed as you listen to the sounds of the babbling creek. Out the back patio is perhaps one of the most iconic views – the Tetons perfectly frame a large lake.

The immaculate 6,524 square foot home, 5 bedrooms, 5 baths, 3 plus car garage, is built with all reclaimed wood and the highest quality finishes.  Across the flowing spring fed creek is a 3 bedroom guest house and studio which consists of 2,960 square feet. This property is perfectly blended with nature to create a legacy masterpiece that will endure for decades to come.

Christy and Garth Gillespie recently closed this luxury listing in Dairy Ranch, one of the top four largest residential transactions since January 2015 according to Teton Board of Realtors MLS (List Price: $17,750,000). Christy and Garth Gillespie have over 25 years of combined Jackson Hole real estate experience and are consistently among the top selling brokers in Jackson Hole, Wyoming. They have a proven track record of providing quality service, and approach every transaction with the intent of exceeding expectations. See what they can do for you!


Star Valley and Teton Valley Year-End Market Report 2018

Star Valley, Wyoming 2018 Year-End Market Report

The Star Valley, Wyoming real estate market maintained steady growth throughout 2018. Transactions were up 6% over the previous year, and total dollar volume for the entire market grew 7% to $157,283,235. Average sale prices increased a modest 1%, and median prices rose 8%.

Inventory remained low, falling 7% compared to 2017 for the entire market, and 17% in the single-family segment. VIEW REPORT >>

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Teton Valley, Idaho 2018 Year-End Market Report

The Teton Valley, Idaho market saw continued growth in 2018, with both the number of transactions and total dollar volume increasing by about 10%. The average sale price and median sale price increased 7% and 2%, respectively, compared to the prior year.

The growth in average and median sale prices reflects the area’s high demand, which is even more pronounced in specific categories. In the single-family home segment, for example, the average sale price increased 14% and the median sale price grew 16%. Those gains, as well as growth in the building site segment, are due in large part to low inventory, which fell 12% overall in 2018. VIEW REPORT >>

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Last weekend, we joined our Jackson Hole Real Estate Associates team as they hosted industry leaders from across the globe for an exclusive networking summit in Jackson Hole, Wyoming. Featuring an exceptional line-up of real estate, business and marketing innovators, the Global Networking Event provided unique insight into what it takes to succeed in today’s rapidly-evolving real estate markets.

Held at the Four Seasons Jackson Hole, this year’s conference offered access to experts at the forefront of their fields:

  • Fireside luncheon with Bernard Uechtritz and Richard Ziegelasch, two of the country’s top-producing real estate agents
  • Special presentations by Thom Gruhler, CEO of Fjuri and former Microsoft CMO, and Ryan Estis, who is recognized as one of the “best keynote speakers ever heard” by Meetings & Conventions Magazine
  • Keynote Dinner with Oscar-nominated filmmakers Jimmy Chin and Elizabeth Chai Vasarhelyi


Technology is quickly transforming the consumer experience, and we were thrilled to welcome many of the world’s leading authorities to explore how today’s tools can be used to build relationships and deliver results. What we heard over and over is that experience is the modern currency, and buyers expect to be met where they are with personalized, relevant information.

Businesses and brands that embrace these changes will win out over those who are slow to move, said Thom Gruhler, CEO of Fjuri. “In every industry, artificial intelligence and machine-learning are making the buying process frictionless, contextual and personalized,” he told the Global Networking Event audience. “Companies that leverage information to create a stand-out experience for their clients will consistently beat out the competition.” Something we try to uphold in all of our client relations and transactions. 

And few real estate brokerages do more to know their clients and exceed their expectations than Jackson Hole Real Estate Associates. No one is doing more to give their customers an authentic, outstanding experience. We would love to tell you more about this outstanding event and talk more about what we learned, please don’t hesitate to reach out.


Our 2018 In Review

We are excited to share our 2018 with you. From luxury listings to adventure travel, 2018 was a remarkable year for us. Please enjoy our year in review video and view 2018 year-end market report. Thank you to everyone that supported us in 2018. We can’t wait to see what’s in store for 2019! Please reach out if you have any questions about Jackson Hole real estate.