Tag Archive for: JacksonHoleExperts

Sotheby’s International Realty — 61.8% Market Share!

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2007 was a record year for the Jackson Hole real estate market, and even better one for Sotheby’s International Realty Jackson Hole Brokerage, which increased its local market share to 61.8% based on its sales volume contrasted against Teton County total sales as reported by the Teton County Assessor’s office.

Looking at the market as a whole, the total dollar volume of sales reported through the Teton Board of Realtors Multiple Listing Service (MLS) in 2007 rose 9.1% over 2006.  Even in the fourth quarter, a rocky period for the national real estate market, sale volume was up 5.6% over the same period in 2006.  Sotheby’s sales associates outpaced their competitors for the year, boosting the MLS sales volume in 2007 by 12.2%.  Based on the Teton County Assessor’s numbers, which include both MLS and non-MLS transactions, Sotheby’s associates handled 61.8% of the $1.055 billion real estate sales volume in the Jackson Hole region.  The company’s average market share for the past five years is now 58.2%.

As the result of agent’s efforts and enhanced support they receive, listings with Sotheby’s International Realty in 2007 resulted in an in-house sale nearly 60% of the time.  This was more than 50% better than the company’s nearest competitor – Real Estate of Jackson Hole.  Sotheby’s agents do 88% more transaction sides per agent and 83% more dollar volume than their closest competitor.

This story was written by Sotheby’s International Realty Jackson Hole Brokerage with contributions and editting by Garth Gillespie, sales associate. 

For more information on these statistics or if you have any questions about the Jackson Hole Market please feel free to visit JacksonHoleExperts or to call me at 307-413-5243.

 

It’s How You Live…Spring Hollow Ranch

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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.

Teton Springs in Trouble?

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News in the Teton Valley of Idaho. Teton Springs sued in U.S District Court.
 
Teton Springs, a planned all seasons resort, located in Victor, Idaho could be credited to jump starting the massive growth that the valley has seen in the past 5 years. The development encompasses a total of 780 acres and includes numerous real estate opportunities, 27 holes of golf (private), fly fishing lakes and streams, a hotel, golf club, fitness facility, swimming pool and endless other amenities. During the past 10 years the developers of Teton Springs have transformed a rolling barley field into the cornerstone of the valley. Since then developments have sprung up all over the valley which include River Rim Ranch, Huntsman Springs and Teton Reserve. Most of these other developments followed the Teton Springs blueprint that if you build it they will come.
 
As we some of us know, times have changed and real estate has slowed in the Teton Valley (see previous post). During the 2007 calendar year, Teton Valley showed continued strength but in the end the growth slowed and did not meet the numbers as 2006. What is very interesting to look at is that Teton Springs recorded numerous land closings that were in the Mountain Meadows area of the development. This was a very interesting development as I was wondering who was purchasing all these properties. In the meantime construction crews swarmed the area and construction took off like we have never seen before. If any of you have ever been to Teton Springs you will understand what I an explaining but if you have not had the chance to see the development this is what it looks like. The lot sizes are no larger than .10 acres and the homes average 2,500 square feet. There are close to 150 of these homes. I remember talking with my wife and saying, “Who is buying all these homes and who is building all these homes?”
 

Maybe a clue to who these buyers are came out in the news last week.  The headline in the Teton Valley News reads…”Teton Springs sued in U.S. District Court.” Over the past few months I have received numerous phone calls from worried buyers that were being told that they were going to have to close on their homes in the next few weeks or months. The buyers, all but one from Idaho, were sold a house/lot combination and were told that by closing they would see an increase in equity of somewhere between $200,000 to $400,000. This has not happened, a matter of fact their investment is worth less than $200,000 to $400,000 than the ibuyers are under contract for or have closed for and most of the plaintiffs are not in a financial situation to close. Even if they could close the case is questioning the developer (Nu Way Partners), the real estate brokerage (All Seasons Realty), the appraisal services (Rivers Edge Appraisal) and the lender (Eagle River Mortgage) on the way the transaction took place. You can read more about this situation at the Teton Valley News website: article written by Lisa Nyren.

With all of this said, Teton Springs is an excellent development.  The golf course is known around the Jackson area as one of the best.  The amenities are fantastic with beautiful ponds, streams, walking trails, cross country skiing and a state of the art fitness and pool facility.  My hope is that all the negative press from the above mentioned article and court case work themselves out and that the development prospers in the near future.  The Mountain Meadows area of the development has some adjustments to work out in inventory and price.  There are some fantastic values in both the Mountain Meadows area and the estate lot homes so if you have interest in the development please do not hesitate to call me to discuss further.

For more information on the Teton Valley of Idaho visit our Idaho Real Estate website – www.TetonValleyExperts.com or our Jackson Hole website www.JacksonHoleExperts.com.

Welcome to the Jackson Hole Experts Blog

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Welcome to the Jackson Hole Experts Real Estate Blog
  • What is a blog? The name comes from “web-log” and is sometimes referred to as “The Web 2.0.” It is basically a website that allows interaction.
  • What is the Jackson Hole Experts Real Estate Blog intended to be? We’ll blog with the goal of being an up-to-date resource for our community, emphasizing Jackson Hole and Teton County, Wyoming real estate, but also just about living in our great community – Jackson.
Christy and I are both excited about this new opportunity to communicate with our customers but to also reach out to new residents or individuals who are eager to learn more about Jackson Hole and our real estate market. The Gillespie Real Estate Team is here to personalize your real estate experience – to work with you how and when YOU want, whether you’re planning to buy or sell. We bring depth of experience locally and a diversity of backgrounds – we think of ourselves as your guides with your interests at the top of mind. Information is readily available, but good interpretation is not as easy to find.
 
Real estate is partly about lifestyle as well, so we’ll share our views of the lifestyle and the surroundings. We may get off topic, much as we would if we were spending hours in a car with you, going from neighborhood to neighborhood. The Jackson Hole Experts Real Estate Blog will be concentrating on market updates, new developments, community news, restaurant reviews and other areas of interest. Please feel free to sign up for updates and email us with any topics you would like us to discuss. Jackson Hole is such a complex place with so many interesting people and stories our goal is to bring some of them to light and to add our insight on many of the topics.  
 
Of course, we’ll also hope that our readers will think of us when they hear of anyone who wants to buy or sell Jackson Hole residential real estate, because that’s how we make our living. You can see more about who we are at www.JacksonHoleExperts.com. Your comments are not only welcomed, but encouraged. Ask us questions, ask for advice, use us as your sounding board. We believe in long relationships, which are grounded in trust, caring and mutual respect. We not only want to make your real estate transactions memorable, we want you to refer us to your family, your friends, your colleagues, your acquaintances – and people you just meet. We thrive and grow because of you and your referrals.

 Stay tuned for our next post as we will be highlighting a new development in the Town of Jackson, Pine Glades.  Pine Glades was just approved by the Town of Jackson and consists of 27 luxury townhomes overlooking Snow King and the Town of Jackson.

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CHRISTY GILLESPIE

Associate Broker
Cell (307) 413-5242
Office (307) 732-7610
christy@jhexperts.com.com

GARTH GILLESPIE

Sales Associate
Cell (307) 413-5243
Office (307) 732-7611
garth@jhexperts.com

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Christy & Garth Gillespie is a team of real estate agents affiliated with Compass Real Estate, a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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