Tag Archive for: Jackson Hole Experts

Sotheby’s Doing Their Part To Support the Real Estate Industry

Last week Christy and I received an email from Kathy Korte, President and CEO, of Sotheby’s International Realty, updating us on ways the private sector are trying to jumpstart the sluggish housing market. A Business Roundtable was formed and here are the results of that meeting.

Business Roundtable, an association of chief executive officers of leading U.S. corporations and specifically, the Business Roundtable’s Housing Working Group – which is chaired by Realogy CEO Richard A. Smith – issued a set of recommendations for the White House and Congress that are aimed at jumpstarting the housing market in order to stimulate a broader economic recovery.

The Business Roundtable’s recommendations are as follows:
· Keep mortgage interest rates at historically low levels (below 5 percent) for at least one year;
· Expand the current First-Time Homebuyer Tax Credit incentive from the lesser of 10 percent of the purchase price of the home or $8,000 to a higher limit of either 10 percent or $15,000 for all homebuyers, remove the income restrictions and include all primary residence purchases for one full year;
· Conduct a thorough review of current foreclosure mitigation and loan-modification programs in light of rising loan-modification re-default rates;
· Make permanent the current temporary conforming loan limits; and
· Continue to review and strengthen government efforts already underway to review and refine mortgage lending practices.

“We believe targeted, demand-side solutions – such as the ones Business Roundtable is recommending today – will provide a critical next step for a housing recovery that will help create jobs and boost the economy as a whole,” said Smith in the Business Roundtable’s press release.

To obtain a copy of the Business Roundtable press release and its Housing Working Group’s detailed recommendations, click here. To read an article that appeared in today’s online edition of The Wall Street Journal containing an interview with Richard Smith about the Business Roundtable’s recommendations and why they are crucial to jumpstarting the housing market, click here

NRT and The Jackson Hole Experts, Christy and Garth Gillespie, applauds the Business Roundtable for its proactive efforts to reinvigorate the U.S. housing market, and we are proud of the leadership role our parent company, Realogy, has taken in this regard.

For more information on the current housing market here in Jackson Hole please feel free to call at 877-739-8056 or visit us at our website.

Sotheby’s International Realty – May 31, 2009 Market Update – Jackson Hole

Last weeks sunset from Melody Ranch

Last weeks sunset from Melody Ranch

Christy and I just got out of our Sotheby’s International Realty morning meeting and have some new statistics to share with all of you. Today’s meeting was not as encouraging as last weeks when we saw 5 new pending transactions – this week we announced just 1 (vacant lot in Willowbrook under contract).

The Jackson Hole Experts have been working our tails off. Last week we listed 3 more properties. We are so grateful to the many sellers out there that have confidence in our marketing program. We believe that the combination of Christy and Garth Gillespie and Sotheby’s International Realty is hard beat and we wake up every day trying to do our best. We look for new, creative marketing ideas, we make sure we have updated photography, we network with the right people….it is on going and effective.

The May 31, 2009 update sums up the market quite well — 43 transaction since January 1st! Yep – 43… The previous low was 2008 with only 127 closings and before that it was 2003 with 186 closings already. This is a shocking number! Jackson Hole Real estste sales volume is half ($66.5 million) of what it was in 2003 ($122 million). The unit volume peaked in 2005 and 2009 unit sales are down 85% from that level. Sales volume peaked in 2007 and 2009 volume so far is down 79% vs. 2007. Days on market is just about irrelevant with so few deals. Prices are hard to fine tune into a pattern but 20% off the high selling prices seems to be a number we are seeing quite a bit. That is about all we can say about the current/past market.

Where do we go from here? An interesting marketing tool that Sotheby’s of Jackson Hole has started in the past 2 months seems to be working. Here at Sotheby’s we have a pricing committee which is comprised of 12 working real estate agents. The pricing committee talks about the market and the current listings at Sotheby’s. They discuss current trends and closings that have occured during the past few months. They also evaluate Sotheby’s current listings on the market. They then select the best values on the market. In turn Sotheby’s uses the top section of our advertising to highlight these exceptionally priced properties. During the past 2 months – 50% of the Sotheby’s listings that have sold have come from this list! Currently 50% of the under contract properties Sotheby’s has listed came from the “priced great” list. Christy and I are meeting with seller’s weekly and we are doing our best to assist them in understanding the market — we are advising our seller’s to make the list with our original listing price.

For details on what makes listing homes or land with Christy and Garth Gillespie and Sotheby’s International Realty different than any other “agency” or “associates” in Jackson Hole – call us toll free at 877-739-8056 or on our cell at 307-413-5243. We are very excited to be busy and we are working very hard to increase transactions in this difficult market.

Jackson Hole Mortgage Rates….On the Rise

One of the finest loan representatives in the Jackson Hole area is T.R. Pierce from the Bank of Jackson Hole. T.R. Pierce is the senior vice president loan officer at the largest “local” bank in Jackson Hole and for the past few years has been educating the Jackson Hole real estate agents on the current local mortgage rates. As part of our weekly updates we will be posting T.R.’s report about once a week. This should give readers a good idea of local rates. We of course recommend calling T.R. Pierce, SVP Residential Loans, 307.734.8111 for an appointment if you would like additional information on mortgages. Today’s report is below:

Conforming interest rates rise as pending home sales increase for the third straight month… the NAR reported that pending home sales rose 6.7% in April after a 3.2% increase in March. Homes under contract increased 32.6% in the Northeast, 9.8% in the Midwest, 1.8% in the West and only 0.2% in the South. This morning Wall Street is showing some caution after yesterday’s rally which was spurred by upbeat reports on manufacturing, construction spending and consumer spending.

Residential Mortgage Rates for June 2, 2009

The following rates are thirty (30) day quotes for fully documented, owner-occupied and/or second home loans for borrowers with a minimum credit score of 700 which feature a one (1%) percent loan origination fee and the escrow of taxes & insurance.

PLEASE NOTE THAT CONFORMING LOAN AMOUNTS OVER $417,000 TO $693,750
ARE AVAILABLE AT HIGHER INTEREST RATES THAN INDICATED BELOW.

PROGRAM CONFORMING
(Loans to $417,000)
JUMBO
(Loans over 417,000)

30 Year Fixed
5.250%
7.875%

15 Year Fixed
4.750%
6.875%

10/1 ARM
5.250%
7.875%

7/1 ARM
4.750%
5.000%

5/1 ARM
4.000%
4.500%

3/1 ARM
5.375%
6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 5.250%
PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 1.607%

Rates are still great but we are starting to see an upward tick in the rates. Don’t be left behind – Now is the time to look at the inventory on the market. For more information call the Jackson Hole Experts at 307-413-5243. We have been tracking the market and have selected some great Jackson Hole deals. To hear more or to see what we have picked check out our TOP PICKS page.

Research Is Suggesting That Large Homes May Become A Thing Of The Past – In Jackson Hole?

Red housesRecent data is showing that homes being built today are smaller than they were in the beginning of 2008. In the third quarter of 2008 median home size was 2,090 square feet, down from 2,629 square feet in the second quarter of 2008. With housing prices dropping and the economy weakening, homeowners may be looking at homes with less unused space, more energy efficiency and a home that better fits their overall needs. There is more of an interest in economizing space and making one room of the home a more flexible space that can be used for a myriad of activities. Outdoor kitchens and entertaining areas are becoming more popular as square footage decreases.

Of course this is national data – what is going on in Jackson? For one thing the Town of Jackson is attempting to limit the size of homes on standard Town of Jackson buildable lots. The standard size lot in town is 50 X 150. The current proposal would limit house sizes to 3,000 square feet. As this is debated by the planners we will keep you up to date.

Do Christy and I see a pattern of smaller houses? Not yet but we believe this could be contributed to a lot less construction taking place in the valley. According to the Teton County Planning and Building Department and the Town of Jackson, February permits for new homes and remodels dropped considerably from January. January had 23 permits issued and February had just 13 issued for a total of 36 for the year compared to 54 in 2008. Another interesting fact is that the Town of Jackson has not received one application for new construction in 2009. We will keep you updated on any trends in new construction in the Jackson Hole real estate market.

Research shows that builders are paying very close attention to what buyers want. The National Association of Home Builders is reporting that 88% of homebuilders surveyed plan to build more smaller homes, and that 89% of homebuilders surveyed claim that they plan to build lower-priced homes.

For additional information on the current Jackson Hole real estate market and current events in the Town of Jackson and Teton County, Wyoming feel free to call the Jackson Hole Experts, Christy and Garth Gillespie, Jackson Hole real estate associates for Sotheby’s International Realty – Jackson Hole Brokerage toll free at 877-739-8056.

Jackson Hole Bank Update – Mortgage Rates for March 27, 2009

One of the finest loan representatives in the Jackson Hole area is T.R. Pierce from the Bank of Jackson Hole. T.R. Pierce is the senior vice president loan officer at the largest “local” bank in Jackson Hole and for the past few years has been educating the Jackson Hole real estate agents on the current local mortgage rates. As part of our weekly updates we will be posting T.R.’s report about once a week. This should give readers a good idea of local rates. We of course recommend calling T.R. Pierce, SVP Residential Loans, 307.734.8111 for an appointment if you would like additional information on mortgages. Today’s report is below:

Conforming interest rates are down this morning after consumer spending rose in February… rebounding for the second straight month! The Commerce Department reported that spending by individuals rose 0.2% last month after a revised increase of 1.0% in January. Some economists feel that “the majority of the declines in consumer consumption are behind us” and another indication that the economy may be improving is the 20% gain in stocks Wall Street has enjoyed in last three weeks!

Residential Mortgage Rates for March 27, 2009

The following rates are thirty (30) day quotes for fully documented, owner-occupied and/or second home loans for borrowers with a minimum credit score of 700 which feature a one (1%) percent loan origination fee and the escrow of taxes & insurance.

PLEASE NOTE THAT CONFORMING LOAN AMOUNTS OVER $417,000 TO $625,500
ARE AVAILABLE AT HIGHER INTEREST RATES THAN INDICATED BELOW.

PROGRAM CONFORMING

(Loans to $417,000)
JUMBO
(Loans over 417,000)

30 Year Fixed
4.500%
7.875%

15 Year Fixed
4.500%
6.875%

10/1 ARM
5.250%
7.875%

7/1 ARM
4.625%
5.000%

5/1 ARM
4.125%
4.750%

3/1 ARM
5.250%
6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 5.000%
PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 2.010%

Thanks T.R. for the report. We appreciate the updates. Christy and I are excited about those 4.5% rates on conforming 30 year fixed! This should motivate all of you first time home buyers or owners that want to move up or around in Jackson. Guess what? This weeks movement in the stock market motivated a few buyers. We saw a piece of vacant land go under contract! We also heard of a contemporary townhome that went under contract! Great news…

If you would like additional information on the Jackson Hole Real Estate market please contact us – the Jackson Hole Experts – Garth and Christy Gillespie. Feel free to call us toll free at 877-739-8056.

Overall Market Update – Real Estate – Jackson Hole, Wyoming

Preliminary Market Update for Year End 2008
Sotheby’s International Realty – Jackson Hole and Christy and Garth Gillespie, the Jackson Hole Experts, have been busy looking back at 2008 putting together final real estate market numbers which are not quite finished. In the meantime we thought we would update the most current information we have gathered and give out the preliminary market update.

November and December were the 2 worst sales months in the past 10 years! With the election, economy downturn and the credit crisis in full swing the housing market nationally took a huge hit and Jackson Hole was not immune to the crises. There were 9 sales in November and 12 sales in December. November unit volume is 51% below that of 2007 and 55% below that of 2004. Sales volume fell 39% to $460 million compared to $750 million in 2007. All five regions (Teton Village, West of the Snake River, North of Town, Town of Jackson and South of Jackson) of the Jackson Hole real estate market saw major declines in activity through the first 11 months. The strongest segment was the Town of Jackson with 110 (-43%) transactions and $120 (-14%) million in sales volume. South of Jackson took the biggest hit with sales volume down 64% and unit sales down 61%! The large decrease in activity in the South of Jackson category is explained by a huge reduction in sales at 3 Creek Ranch and the now bankrupt Snake River Sporting Club.

If we look at sales by property type we see that vacant land sales had the largest decline with sales volume down 47% and unit sales down 67%! Overall the averages were Condos down 33%, Single Family homes down 42%, and Vacant land down 47%. The bright spot in the market has been Commercial listings with sales volume up 35% and unit sales only down 24%.

Active inventory has been trending upward with a slight decease in November 2008 due to sellers removing listings from the market. When we look back we see that active listings have been trending upward since May of 2007. This increase in listings is market wide with active listings under $3 million at 548 and greater than $3 million at 150.

Do we see any positive trends? Of course – we have to find some positives in this market. First and foremost we have great inventory to show potential buyers and the prices are starting to trend downward. There have been many times in the past ten years that Jackson Hole has offered a very limited number of options for buyers in the market. Well that has changed! We also are starting to see some very unrealistic sellers adjusting their pricing. We have a new page on our website at www.jacksonholeexperts.com that offers our “Top Values” – check it out! Another trend we are starting to see is an increase in interest in our market. The Christmas / Holiday season was very busy in Jackson Hole. Most of you may have heard but the Jackson Hole Mountain Resort received over 5 feet of snow between Christmas and New Years. Many visitors filled a day or two of their visit with a real estate agent. Showings increased two-fold and real estate inquiries doubled at Sotheby’s. To turn this market around we need interested parties so this was a good first step. Stay tuned for more information and thanks for reading — please send comments to garth.gillespie@sothebysrealty.com or give us a call at 307-739-8056.

An Exciting Winter for Teton Village – Jackson Hole, Wyoming

It isn’t every day that workers at Jackson Hole Mountain Resort get applause for their work. But then, a new Aerial Tram at isn’t exactly an everyday occurrence.

In late October, spectators gathered at the resort and clapped as crews placed the first of two bright-red Tram cars from Switzerland onto their track cables. Seeing the cars put into place was like watching the curtain lift at the theater, although in this case the performance is to start December 20, when the Aerial Tram will begin carrying skiers and snowboarders up Rendezvous Mountain. For the legions of people who are passionate about this particular ski hill, it will be as though Christmas arrived five days early.

Anyone who has skied at Jackson Hole Mountain Resort any time from the 1960s to more recent years will find the sight of the little red boxes moving along their cable to be a familiar sight. The Tram cars are red, like their iconic predecessor, which shuttled skiers up the mountain for 40 years before being retired. But the new tram will be bigger and faster, whisking 100 passengers at a time to their starting point for their adventures in about nine minutes.

Change is afoot at Teton Village as a whole. The Village has kept hold of its classic attractions, like the Mangy Moose Saloon, while adding new ones like Hotel Terra, a boutique property that’s sleek, upscale and eco-friendly. Some changes at the Village are subtle, like the acoustical upgrades at Walk Festival Hall, home to the Grand Teton Music Festival. Other changes are more dramatic, a case in point being the new Shooting Star™ golf course.

Teton Village has become famous for its resort offerings. But it has become viewed more and more in recent years a great place to live, whether year round or on a part-time basis. The new hotels, for example, offer condo ownership opportunities in addition to options for out-of-towners to stay in style and comfort when they come to Jackson Hole. With the opening of the Four Seasons Resort, Teton Village acquired a “grande dame” hotel as well as a new group of slopeside luxury residences. In addition to Hotel Terra, there’s also Teton Mountain Lodge and others are coming, including the second phase of Hotel Terra.

Another new arrival in Teton Village is the newly completed Timbers, a group of three- and four-bedroom homes in Granite Ridge. Designed by John Carney, they average 3,300 square feet, with vaulted ceilings, gourmet kitchens, stone fireplaces and private Jacuzzi decks. Elsewhere in the village, the condos along McCollister Drive and Rachel Way, though not exactly new, are newly interesting to the real estate market. With upgrades and improvements the units, which like the Timbers, are zoned for short-term rentals, creating an attractive opportunity for investors who would like to generate some revenue from their properties.

As for Shooting Star™, it’s easy at this time of year for Nordic skiers to look out at the snow covered rolling terrain of the Tom Fazio-designed golf course and fantasize about streaking along a freshly groomed track. The golf course will, in fact, be a Nordic ski center, but its big unveiling will be next summer, when the golfers who have been watching the new facility take shape can finally walk out onto those greens and play a few rounds.

Construction is well underway on the Shooting Star™ club house, which will feature spa and fitness facilities, as well as a restaurant. The residential portion of Shooting Star™ includes cabins by architect Paul Bertelli of JLF Associates, featuring reclaimed materials and old world craftsmanship, plus spectacular views of the Tetons and the golf course.

Not everything planned for Teton Village is on such a grand scale, but little things make a difference. The pond behind Crystal Springs Lodge will eventually be replaced by a group of smaller water features and landscaping better suited for functions or for just relaxing. An 812-space, paved parking lot was just approved by the Teton County Board of Commissioners to be built between Granite Loop Road and Highway 390. It’s possible that someday there will be an automated “lift” that will whisk skiers and snowboarders from the lot to the clock tower so they can begin their day on the slopes. There’s no doubt that the opening of the new Arial Tram at Jackson Hole Mountain Resort is the biggest story for winter 2008-09 at Teton Village. But as is always the case with news, some of the other stories are pretty interesting, too. For first timers and veterans, Teton Village is worth exploring this winter.

For more information on Teton Village or Jackson Hole please feel free to email or call the Jackson Hole Experts – Christy and Garth Gillespie.

Flying to Jackson Hole this Summer?

Just Announced — Summer Flight Schedule for Summer 2008 – Jackson Hole.

Time to book your summer vacation to the most beautiful place in the lower 48! 

Summer 2008 Airline Schedule
Inbound Non-Stop Jet Service
City Airline Plane Departs Arrives Frequency Start Date End Date
Atlanta Delta 757 10:15AM 12:37PM Thurs – Sun 6/5/2008 8/31/2008
Chicago United A319 12:00N 2:05PM Daily 6/5/2008 9/1/2008
Chicago United 752 3:00PM 5:02PM Daily 5/30/2008 6/4/2008
Chicago United A319 5:05PM 7:14PM Daily 6/5/2008 9/30/2008
Chicago American 757 9:30AM 11:45AM Sat – Sun 7/5/2008 8/31/2008
Dallas/Fort Worth American 757 5:10PM 7:06PM Sat 6/14/2008 8/30/2008
Dallas/Fort Worth American 757 9:50AM 11:30AM Daily 6/12/2008 9/30/2008
Denver United A319 1:20PM 2:44PM Sat – Sun 9/6/2008 9/28/2008
Denver United Express DH2 1:25PM 3:24PM Daily 9/2/2008 11/30/2008
Denver United A319 1:30PM 2:51PM SAT 5/10/2008 8/30/2008
Denver United Express DH2 1:50PM 3:49PM Daily 4/7/2008 5/19/2008
               
               
Denver United Express DH2 10:10AM 12:14PM Daily 4/7/2008 5/2/2008
Denver United Express DH2 10:25AM 12:34PM Daily 10/26/2008 11/30/2008
Denver United A319 11:15AM 12:39PM Daily 5/3/2008 6/4/2008
Denver United 752 11:15AM 12:34PM Daily 6/5/2008 10/25/2008
Denver Frontier   2:20PM 4:00PM Daily 5/15/2008 11/30/2008
Denver United A319 2:25PM 3:45PM Daily 5/20/2008 9/1/2008
Denver United A319 3:25PM 4:46PM Sun 6/15/2008 8/31/2008
Denver United Express DH2 4:07PM 6:00PM Daily 6/5/2008 9/1/2008
Denver Frontier   4:55PM 6:35PM Daily 5/15/2008 11/30/2008
Denver United A319 5:30PM 6:51 AM SAT 6/21/2008 8/30/008
Denver United 752 7:55PM 9:15PM Daily 5/20/2008 9/30/2008
Denver United A319 8:10AM 9:38AM Daily 6/5/2008 9/1/2008
Denver United Express DH2 8:25AM 10:21AM Daily 9/2/2008 11/30/2008
Denver Frontier   8:30AM 10:10AM Daily 5/15/2008 11/30/2008
Denver United Express DH2 8:40PM 10:50PM Daily 10/1/2008 11/30/2008
Denver United Express DH2 8:50PM 10:49PM Daily 4/6/2008 6/4/2008
Minneapolis Northwest A319 4:50PM 6:22pm Daily 6/6/2008 9/29/2008
Salt Lake City Delta Connection CR7 1:40PM 2:40PM Sun – Fri 4/9/2008 6/4/2008
Salt Lake City Delta Connection CR7 11:00AM 12:08PM Daily 4/8/2008 11/30/2008
Salt Lake City Delta Connection CR7 2:55PM 3:55PM Daily 6/5/2008 11/30/2008
Salt Lake City Delta Connection CR7 4:55PM 5:57PM Daily 4/8/2008 11/30/2008
Salt Lake City Delta Connection CR7 7:30PM 8:32PM Daily 6/5/2008 11/30/2008
Salt Lake City Delta Connection CR7 7:45PM 8:47PM Daily 4/1/2008 6/4/2008
Salt Lake City Delta Connection CR7 9:55AM 11:03AM Daily 6/5/2008 11/30/2008
         
Outbound Non-Stop Jet Service
City Airline Plane Departs Arrives Frequency Start Date End Date
Atlanta Delta 757 1:35PM 7:05PM Thurs – Sun 6/5/2008 8/31/2008
Chicago American 757 12:18PM 4:00PM Sat – Sun 7/5/2008 8/31/2008
Chicago United A319 7:45AM 11:28AM Daily 5/31/2008 9/30/2008
Dallas/Fort Worth American 757 12:25PM 3:50PM Daily 6/12/2008 9/30/2008
Dallas/Fort Worth American 757 8:03AM 11:40AM Sat 6/14/2008 8/30/2008
Denver United A319 1:20PM 2:42PM Daily 5/3/2008 6/4/2008
Denver United 752 1:20PM 2:44PM Daily 6/5/2008 10/25/2008
Denver United A319 10:18AM 11:44AM Daily 6/5/2008 9/1/2008
Denver Frontier DH4 10:40AM 12:22PM Daily 5/15/2008 11/30/2008
Denver United Express DH2 10:40AM 12:31PM Daily 9/2/2008 11/30/2008
Denver United Express DH2 12:35PM 2:30PM Daily 4/7/2008 5/2/2008
Denver United Express DH2 12:54PM 2:45PM Daily 10/26/2008 11/30/2008
Denver United A319 3:24PM 4:44PM Sat – Sun 9/6/2008 9/28/2008
Denver United A319 3:25PM 4:50PM Sat 5/10/2008 8/30/2008
Denver United Express DH2 3:44PM 5:40PM Daily 9/2/2008 11/30/2008
Denver United Express DH2 4:10PM 6:05PM Daily 4/7/2008 5/19/2008
Denver Frontier DH4 4:30PM 6:12PM Daily 5/15/2008 11/30/2008
Denver United A319 4:30PM 5:55PM Daily 5/20/2008 9/1/2008
Denver United A319 5:28PM 6:53PM Sun 6/15/2008 8/31/2008
Denver United Express DH2 6:20PM 8:18PM Daily 6/5/2008 9/1/2008
Denver United 752 7:00AM 8:18AM Daily 5/20/2008 9/30/2008
Denver United Express DH2 7:00AM 9:04AM Daily 10/1/2008 11/30/2008
Denver Frontier DH4 7:05PM 8:47PM Daily 5/15/2008 12/17/2008
Denver United Express DH2 7:25AM 9:20AM Daily 4/6/2008 6/4/2008
Denver United A319 7:50AM 9:08AM Sat 6/21/2008 8/30/2008
Minneapolis Northwest A319 9:00AM 12:10PM Daily 6/6/2008 9/29/2008
Salt Lake City Delta Connection CR7 1:15PM 2:10PM Daily 4/8/2008 11/30/2008
Salt Lake City Delta Connection CR7 11:55AM 12:50PM Daily 6/5/2008 11/30/2008
Salt Lake City Delta Connection CR7 3:15PM 4:11PM Sun – Fri 4/9/2008 6/4/2008
Salt Lake City Delta Connection CR7 5:05PM 6:01PM Daily 6/5/2008 11/30/2008
Salt Lake City Delta Connection CR7 7:00AM 8:04AM Daily 4/8/2008 11/30/2008
Salt Lake City Delta Connection CR7 8:10AM 9:14AM Daily 4/8/2008 11/30/2008
           
           
           
Inbound Commuter Service
Denver United Express Dash 8 1:20 PM 3:19 PM Daily Year Round    
Denver United Express Dash 8   Daily 10/28/2007 12/14/2007
Outbound Commuter Service
Denver United Express Dash 8 3:49 PM 5:50 PM Daily Year Round    
Denver United Express Dash 8   Daily Year Round  

This schedule was updated March 8, 2008; flight times are likely to change, and will vary throughout the summer.

 

 

For more information on Jackson Hole and Jackson Hole Real Estate please visit www.JacksonHoleExperts.com or give Garth Gillespie a call at 877-739-8056.

 

It’s How You Live…Spring Hollow Ranch

 

Today I am going to update everyone on a wonderful development in Teton Valley Idaho — Spring Hollow Ranch.  I work with the developers (a great group/family) that have developed an incredible parcel of land into what I believe is the finest development in the Teton Valley.  There are no golf courses, ski runs, spas, monstrous "spec" homes just beautiful landscape and a sense of privacy rarely seen.  The property itself is one of the most stunning properties I have had the chance to visit, let alone represent.  There is an emotion and a sense of belonging that Spring Hollow Ranch offers that is almost impossible to explain with out actually experiencing and "touching" the property.  Below I do my best but if you have any additional questions please do not hesitate to call or email me.  For more information on Spring Hollow Ranch click the link.

 

I. Teton Views and Room to Roam 

Mountain views and wide-open spaces: It’s what western living is all about, and you can find both in Spring Hollow Ranch. Once a barley farm, Spring Hollow Ranch features rolling hills, superb views of the Teton Range and one of the more unique wetland areas in the valley – Spring Hollow Pond. The development consists of 50 residential vacant lots varying in size but averaging 15 acres with a grand total of 880 acres. Protected, recreational space equals 119 acres which allows for residents to enjoy the entire property. Hiking trails interconnect throughout the property and the Spring Hollow Pond has been dedicated for the recreational use of all the homeowners.

 
II. A Well Planned, Quality Development
 

Spring Hollow Ranch is a well planned, high quality development that features paved roads, buried utilities, landscaped entries, beautiful water features, an interconnecting trail system and incredible open spaces. Unlike a lot of developments that dedicate open space but then do not provide access to it, Spring Hollow Ranch has created a wonderful trail system that allows homeowners to hike, bike, horseback ride, cross country ski and walk through the development. From all the available lots, owners can have access to the trail system and have miles of recreational choices to choose from. Spring Hollow Ranch also provides access to the “Rails to Trails” which is in the development stage but eventually will provide for miles of snowmobile and bike trails.

 
III. Location
 

Spring Hollow Ranch is located in Tetonia, Idaho which is in the northern tier of the Teton Valley. The property it self is located on a grouping of large hills that provide most of the home sites commanding views of not just the Teton Range but of the Big Hole Range, Yellowstone and the Sun Valley Mountain Range. Spring Hollow is just 10 minutes from Driggs and 30 minutes from the Grand Targhee Mountain Resort. Jackson Hole is about 1 hour from the development so a day in town is just a quick trip over Teton Pass.   If fishing is high on your list, Spring Hollow is centrally located to take advantage of some of the finest fly fishing in the west. The “canyon” of the Teton River is just a 10 minute drive, the South Fork of the Snake, Henry’s Fork are within an hours drive. Restaurants are opening their doors almost monthly in the Teton Valley providing residents numerous, quality choices. Hiking in the National Forest is within a 5 minute drive. Golf – multiple choices in the Teton Valley. 

IV.  Availability

Currently there are lots available in both Phase 1 and Phase 2.  To date there have been 7 sales.  There are some incredible values in all price ranges.  There are lots available for as low as $295,000 and as high as $470,000.  Acreages vary as explained above but most lots are in the 8 acres to 20 acres size.  Homeowners have the ability to create their own legacy property.  The building restrictions are very flexible with endless possibilities.  For actively listed properties visit www.TetonValleyExperts.com and for information on the Jackson Hole Market please visit www.JacksonHoleExperts.com.