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Jackson Hole Real Estate Opportunities of a Lifetime?

Here is a very interesting read from Barron’s:

Barron’s Article

Notice the Jackson Hole listings? More to come on the next few blog posts about the current market — some highlights – some lowlights…..

For information on the Jackson Hole real estate market please contact the Gillespie Real Estate Team – Garth Gillespie, Christy Gillespie, Don Alsted – The Jackson Hole Experts!

Jackson Hole Real Estate Hotsheet Highlights

The Web is crawling with ways to search for real estate listings. In this region, the best way to get started is at Jackson Hole Experts But for when you want to know what Realtors know … you need the Hotsheet!

New listing highlights: New Jackson Hole listings have been few in the past month or so, predictable for this time of year, but Teton Village and in-town condos have been hitting the hotsheet in greater numbers in the past few days.

The second new Four Seasons in Jackson Hole listing of the week (there are now 13 FS properties available) hit Dec. 17. This 3-bath, 5-bed unit on the sixth floor is priced at $5,250,000, making it the second most expensive Four Seasons unit after the 5,016 sq. ft., 5-bed, 6-bath, unit on the ninth floor listed at $6,950,000. I toured the latter last Thursday and was, well, impressed of course. The layout, cathedral ceilings and abundance of glass belied the fact it was a condo, providing more of a single-family home feel, perhaps mainly because this is one of the few units with both west (Mountain Resort) and east (Sleeping Indian and valley) views.

Price change highlights: There were 25 price changes during the Dec. 16-18 3-day period, with the most interesting being a $43,000 Brookside Condominium price reduction from $358K to $315K. According to an e-mail sent to all realtors from this agent, the list price is $78,000 less than the sale of a similar unit in March 2008. He points out that if it sells at that price with 20% down, and financing comes in at 4.625%, the monthly payment is about $1,295 per month. It rents for $1,200 per month.

Also notable were 2 price reductions in the High Teton Condominiums on Hansen Street, with both 2-bed, 1-bath units dropping $16K and $25K respectively with prices now just below $500K. A very nice 1-bed unit in this building dropped to $318K earlier this week.

Closed and pended listings: A 3-bed, 3-bath, 2,210 sq ft home in Indian Trails listed at $805,000 sold this week after 61 days on the market and a price reduction of $90K. That leaves 6 homes on the market in this west Jackson neighborhood, with list prices between $1.1M and $2.195M.

For details about any property mentioned in this blog post or a FREE PERSONALIZED Jackson Hole real estate market analysis, please call Brian Siegfried at 307-690-9346 or e-mail him at Brian.Siegfried@sothebysrealty.com.