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.

Jackson Hole Real Estate Market :: June Analysis & News

Real Estate News in Jackson Hole, WYOMING

This Newsletter dated 6-23-06 includes a Broker review by Ronald Miller, the Responsible Jackson Hole MLS Broker for Jackson Hole Real Estate

Jackson Hole soared past the $1 Billion mark with $1.3 Billion in Sales in 2005, will the 2006-2007 selling season be remembered in local real estate history as the year the market wobbled again as in 1999-2001. It is my observation that we may very well be seeing repeating trends of that slump. The last downturn started with the NASDAQ Stock Market Bubble Burst. 9-11 was the next big event that sent the market lower in Jackson Hole. Could there be another trend in this direction and is history once again repeating itself?

The questions that most of our buyers and sellers ask is, ”Are the buyers for high-end property still bullish on the market?” and, “Will this boom continue?” This report will attempt to answer both questions and provide you with a realistic viewpoint from a Broker investor that is concerned yet optimistic that Jackson Hole recovers quickly in any downturn and usually always holds value in a long-term position.

Who are the new Jackson Hole buyers? They may be your next-door neighbors in some cases. It is a fact that many of the transactions in Teton County are the next-door neighbor of a property wishing to control the surroundings of his or her existing property, especially in the high-end marketplace. The buyer’s that the Jackson Hole Real Estate Company assists are among the wealthiest individuals in the country. These are great reasons to list your Jackson Hole property with our company and I believe now is a great time to sell while buyers are still willing to pay high prices for our properties in Jackson Hole!! These buyers have excessive cash and simply want to stay out of the short-term stock market gains and invest in proven long-term assets that are consistent, like the Jackson Hole Real Estate Market. In the past month the Jackson Hole Real Estate Co has over 24 million dollars in sales pending on exclusive properties with many new deals in the works.

Will this strong market continue to raise prices or is a correction over-due? I read my USA Today money section this morning and tried to get a good sense of things as a whole and I wanted to be as honest as possible with my feelings and investment strategies as an investor in Jackson Hole Real Estate. I have found that my honesty and concern often helps other investors at this time of uncertainty.

I also have to think about how to position our Brokerage in Jackson Hole known as the Jackson Hole Real Estate Company in the event of another downturn. Our markets in Jackson Hole may very well be facing another downturn if the latest News is correct and the stock market is in another serious correction stage. This is not all bad news!! Companies and investors that are storing up cash may very well be winners in the next downturn market. I was heavily invested in the stock market in 1999 when things started getting negative on Wall Street. I was determined to get my money back and lost even more that year second-guessing the technology bust of the 2000 era. I then turned to investing in town homes and condominiums at Teton Village, home of the Jackson Hole Mountain Resort. While many doubted my strategy, we soon proved them wrong and started to see 100% return on investment through our efforts and strategic position.

What are the signs of a correction in the Market? Our market is currently being driven by a lack of inventory and high demand. I have seen a trend in Teton Village several times where the sellers simply do not list and then do so at the sliding side of the downturn and multiple properties are available and priced above appraisal values. A year goes by and all those that are over priced are sitting there with no activity and buyers have no urgency to buy if they think there is plenty of availability of units and sense a lack of demand.

Who is Right and what voice should you listen to? Predicting the Jackson Hole Real Estate future is uncertain and I am not suggesting this is my final opinion in the matter. I do believe my viewpoint as of today to be cautiously optimistic and as world events change quickly we may all realize that our exclusive luxury Real Estate markets are not invulnerable to these trends mentioned above. My 22 years as being an MLS Broker and investor of residential and commercial Real Estate in Teton County and the greater Jackson Hole valley have led me to believe that the market may be getting ready to move downward again in many markets.

Many Realtors may disagree with me but each man has his own opinion of value and only time will tell us who is right. As for our strategy, we are selling many investment properties at high prices in Teton Village to prepare for the next trend I think will soon be here. We are carefully selecting new properties one at a time so we are not holding too much debt to equity and will have adequate cash reserves when needed for buying in the low trends again.