Jackson Hole Real Estate Sales- Is the Real Estate market on the top of the curve?
Jackson Hole Real Estate Sales- Is the Real Estate market on the top of the curve?
As we show property to our new buyers this summer, this question is always at the top of the list for the buyers and sellers in Jackson Hole. Nobody wants to get caught at the spike of a Real Estate trend and in hind sight regret a purchase he or she has made in this exclusive marketplace. Likewise a seller wants to sell at the peak if at all possible. It has been my observation that over the 23 years in the Real Estate that there have been at least two times in the past that prices actually dipped. One period was in the 1987-88 period when there was a stock market drop.
This sent the economy in Jackson Hole in a tail spin for a year or two and then the prices began to increase again. Those property owners in Teton County that were able to hold through that period were fine but many needed to sell and created a slight down turn. The next dip or _correction" in Jackson Hole was right after the 9-11 periods when the markets as a whole were in a downward trend. We watched many sellers panic and try to dump many Jackson Hole rental homes and condominiums on the market. Those that bought during that period and placed their properties in our Jackson Hole Property Management system were rewarded handsomely in most cases.
The high or top of the peak in the Real Estate curve is usually preceded by a major economic bubble and a glut of properties dumped on the market. This is the beginning of all buyers markets and one we carefully watch as the Jackson Hole economy seems a bit out of proportion.
At the present time, things seem fairly stable in the market. As of June 27th 2006 there are 10 houses that have recently been placed under contract between 2-9 million and 12 properties under two million are currently pending. Proper pricing when selling Real Estate in Jackson Hole and understanding trends are of utmost importance to sellers. A buyer wants to also know if things are properly priced as well. We recommend an appraisal to sellers wanting to list and this becomes a powerful selling tool for our Jackson Hole Real Estate agents.
As we show property to our new buyers this summer, this question is always at the top of the list for the buyers and sellers in Jackson Hole. Nobody wants to get caught at the spike of a Real Estate trend and in hind sight regret a purchase he or she has made in this exclusive marketplace. Likewise a seller wants to sell at the peak if at all possible. It has been my observation that over the 23 years in the Real Estate that there have been at least two times in the past that prices actually dipped. One period was in the 1987-88 period when there was a stock market drop.
This sent the economy in Jackson Hole in a tail spin for a year or two and then the prices began to increase again. Those property owners in Teton County that were able to hold through that period were fine but many needed to sell and created a slight down turn. The next dip or _correction" in Jackson Hole was right after the 9-11 periods when the markets as a whole were in a downward trend. We watched many sellers panic and try to dump many Jackson Hole rental homes and condominiums on the market. Those that bought during that period and placed their properties in our Jackson Hole Property Management system were rewarded handsomely in most cases.
The high or top of the peak in the Real Estate curve is usually preceded by a major economic bubble and a glut of properties dumped on the market. This is the beginning of all buyers markets and one we carefully watch as the Jackson Hole economy seems a bit out of proportion.
At the present time, things seem fairly stable in the market. As of June 27th 2006 there are 10 houses that have recently been placed under contract between 2-9 million and 12 properties under two million are currently pending. Proper pricing when selling Real Estate in Jackson Hole and understanding trends are of utmost importance to sellers. A buyer wants to also know if things are properly priced as well. We recommend an appraisal to sellers wanting to list and this becomes a powerful selling tool for our Jackson Hole Real Estate agents.
posted by Jackson Hole Real Estate at 11:59 AM
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