All posts by Ronnie Miller

Jackson Hole Real Estate Market Report – September 2020

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

It has been an interesting 2020 summer for the real estate market in Jackson Hole. We are experiencing a serious demographic change with folks exiting the big cities desiring to be in a small town like Jackson Hole. We have more buyers than sellers creating a supply problem and sellers are getting higher prices than normal for properties.

We have another 12.8 mm in closings this week again and more sales coming in. I would personally like to thank my staff for assisting me with listings and sales this past month. A special thanks too for all our buyers and sellers for choosing me to represent you.

Folks ask why we sell so many properties. I tell them that being available at a moment’s notice and providing excellent customer service always is the secret.

Jackson Hole Real Estate Market Report – March 2020

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

Greetings from Jackson Hole!

I want to thank all of you for your daily inquiries and for using our interactive jacksonholerr.com website feed to see new listings. As always we are updating the featured listings and showing our most popular listings to make your search quick and easy.

We have been fairly consistent and steady at the moment with brisk sales in Jackson Hole. Our team is once again having record sales with 26mm closed since October of 2019. My team specializes mostly in the higher end sales in the resort areas of Spring Creek, Teton Village, The Aspens and Teton Pines. We had 2 closings south of town for 12 million so that market too seems to be doing well. I attribute our large dollar volume in sales to my clients looking for an excellent store of value of extra cash and being able to enjoy their fantastic Jackson Hole property! What else are you going to do with cash these days with the stock market and economy on edge?  I tell folks that investing in very unique Jackson Hole properties that have a high probability of holding value is a great alternative. Investing in physical precious metals and art is nice too but all you can do is look at it and those investements are more like an insurance hedge. Right? Not a bad idea to look at those alternatives also.

At present I take advantage of the Trump tax cuts that are primarily geared towards real estate and business depreciation. We are currently renovating 28 units at the Miller Park Lodge and White Arrow Ranch project. Owning a nice Jackson Hole rental property in an L.L.C. can be highly attractive to offset gains with depreciation write-offs. Your tax advisor should be able to guide you to the same conclusion depending on your situation.

Again we appreciate your business. Please let me know how I can help you in any way.

Jackson Hole Real Estate Market Report – September 2019

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

As we enter into the final month of the 3rd quarter and Jackson Hole Markets we are seeing quite a flurry of activity in all sectors of the Jackson Hole real estate market. It has been easier for the Realtors this year with more inventory coming on the market to show buyers. The market is still tight for good short term rental condominiums in Teton Village. Moose Creek Townhomes have leveled off at or below 3mm price point now as buyers are refusing to pay more. This too is a correction in the market and will be a new trend as prices get too high and buyers say NO.

In the higher end market we have seen about a dozen high end properties sell and go into escrow as of late. This is quite normal in the 3rd quarter and our team has 12mm in escrow at this time. Prices over 5mm is where most of the listing inventory seems to be coming on strong as sellers try to reach new heights in sales prices. Only the attractive properties sell in these price ranges. Modern design still seems to be moving faster than traditional homes and log lodges.

Teton Pines has finally seen increased sales activity which I predicted as it is a great location and a bit undervalued compared to other exclusive West Bank properties for sale. Spring Creek Resort is also seeing sales after a slow start this past year. As a member of Teton Pines I am bias for sure as it is a great community of folks and a great place to reside or own a second home. It is close to both town and Teton Village.

Let us know how we can update you on any specific properties you are looking at on our jacksonholerr.com website. We have a great feature whereby you can receive very specific information in a text or e-mail on all new listings by the neighborhood and price range you are seeking.

Jackson Hole Real Estate Market Report – June 2019

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

Our active buyers on our popular jacksonholerr.com site may have noticed the sudden surge in high end properties pouring into the Jackson Hole Marketplace as of late. This may indicate a shift in the market. Last year we had very little good inventory to show our buyers and that seems to be changing dramatically this year. Those homes that are priced well and have exceptional locations in the valley are selling while those homes that are overpriced and not in desirable locations will struggle to obtain offers. Jackson Hole sellers seem to be reaching for new heights in pricing asking well over $2,500 per ft in some instances. Is this the new norm? While most Realtors can point to current sales and try to justify this, I am not confident this high end strategy can hold for much longer.

When will we know and see the signs of a buyer market shift? High end long term rentals are one indicator. I have several high end buyers sitting on the sidelines watching the market shift daily but have opted to lease homes and wait for just the right opportunity. The sudden surge of high end listings can also give high end buyers so many choices they can get confused and realize there is NO urgency. We should know a lot more towards the end of the summer. With the booming economy it will be interesting to see what happens next as most sales are yet to come in August through October.

Jackson Hole Real Estate Market Report – January 2019

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

The statistical facts are in for 2018 using the facts from Teton County MLS. This was an exceptional year for our team at the Jackson Hole Real Estate Company. We want to thank all of our buyers and sellers for your part in our record breaking 4th quarter this past year. We are truly grateful.

Our sales included a luxury collection of several nice condominiums and fine homes. We are seeing a softening of prices in higher end properties and sellers are ready to make deals. My advice to sellers is to always consider all reasonable offers and counter the buyer in the middle if possible. This has been the case on the past 5 deals I put together last month anywhere from 650k condominiums to 12.5mm homes. On our Fish Creek Bend property listed at 12.5 mm we received a 10.5mm offer and settled quickly at 11.5mm with a fast cash closing. It is always best when both buyers and sellers think they both got a fair price.

If you are considering listing your property I highly recommend you get my realistic 30-60-90- lifetime listing evaluation. You will appreciate this service and only takes a few hours to get you a realistic evaluation.  Lifetime listings hurt sellers!!  I have seen some over priced listings on our MLS way too long and they are good properties. Some listings are now shop worn being over 1,200 days on the market. Really?? The 30-60-90 price recommendation always works!! It is just a good principle and I save sellers a lot of pain without having their property on the market for several years. As a top producing Broker I am always concerned when I consider taking over priced listings if the market is not likely to produce an offer in that price range. My last 5 listings sold quickly as we priced them just a little over market value at a 90 day listing price and we met the buyer in the middle. We just placed another nice property we listed in escrow yesterday and my seller is so excited we got the job done in less than 60 days and 1 open house. It came together with 2 counter offers. Price is 95% of every deal and 5% is due diligence with residential sales from my experience.

Jackson Hole Real Estate Market Report – November 2018

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

OK folks. Fasten your seat belts as the market is ramping up again in an unusual off season buying spree unlike any we have seen during this period. As I told you last month, with high end home prices softening a bit and coming down we saw several high end properties between 10-15mm go into escrow. Our lovely River bend listing located at 5555 Cutthroat drive in Crescent H Ranch at 12.5mm is in escrow and set to close soon. Great property!! Our seller lowered this fantastic home and property from $15mm to $12.5mm and sold pretty fast.

https://www.jacksonholerr.com/PropertyDetails?mls_num=18-2153

One of the large homes in Indian Springs Ranch that lowered their price sold and another one was placed into escrow.

https://www.jacksonholerr.com/PropertyDetails?mls_num=18-2759

The condominium market in the short term rental zoning  is still moving well with high demand still and low inventory. Our office closed on the last 3 remaining 2 and 3 bedroom units in the Aspens and I highly recommend selling at this time. We closed these units at $640k, 715k and 875k this past month. Please call me if you are reading this and want to sell at a great price in there  as we have buyers waiting.

We listed another fantastic property in the Eastridge Development this week at a very fair price. This beautiful Mountain Modern design home is recently upgraded and being sold turnkey. Great Grand Teton Views are the big selling point. We just listed it this week and may get some offers so call me ASAP if you like this one. Easy to show. Call Ron at 307-690-6331 for a showing.

https://www.jacksonholerr.com/PropertyDetails?mls_num=18-3182

Is the Real Estate Market Soft in Jackson Hole?

This is a great question. As lead broker for the Miller team and owner of the Jackson Hole Real Estate Company, I strongly do not believe this is the case. However, leading brokers are promoting this “soft market” mindset presently to desperately keep a seller stranglehold on high end listings in the valley for long durations of time.

My argument is valid. Here are a few reasons backed by facts. They are:

1. The Miller team at Jackson Hole Real Estate Company has increase our sales volume by a whopping 20 million dollars in the past 12 months through strategic marketing and lead follow up. We have a detailed market analysis prepared for sellers wanting to know more about our targeted strategy. It is simply the best.

2. High End listings are being held hostage on the Market in MLS way too long. Many buyers we are working with are concerned when they see these properties on the market from 360 days to in some instances for well over 1000 days. Seriously?? This is extremely difficult to explain to a high end buyer when they ask the listing broker attending the showing for a good reason. I heard several agents this year explain it away that it is a “soft market” and is very common in our marketplace.

3. This is only a good excuse and lame in my opinion and becomes an objection in and of itself  to overcome with the buyer right from the start of the showing. There is simply a lack of urgency if a buyer thinks he can buy it 2 years from now at possibly a reduced price. This is why I encourage listings in MLS only sometimes through short selling seasons like summer and winter.

4. The amount of money generated since the last election is in the trillions for high end clients so would we say the money supply is “soft”. That would be nonsense.

Posted By Ron Miller / Jackson Hole Real Estate Broker

Snake River Sporting Club Jackson Hole

Snake River Sporting Club Jackson Hole

The beautiful Snake River Sporting Club has it all for anyone looking to relocate, or purchase a vacation home here in Jackson Hole! With endless activities that include a golf course, tennis, trout fishing, horseback riding, miles of trails, and much more you will never run out of fun family activities in your new home.  Located about 11 miles south of the Town of Jackson, right outside of the Targhee National Forest each lot at the Snake River Sporting Club will provide you with beautiful scenery everywhere you look.

There are a variety of lots available for all buyers and budgets at the Snake River Sporting Club; from .29 acres up to 35+ acres. Currently, there are 2 cottages available as well as 4 luxury custom homes that overlook the award-winning golf course. These properties make for great family getaways or the perfect setting for corporate outings.

In addition to the amenities and scenery at the Snake River Sporting Club, you will get to work with several of the region’s top architects to ensure that your home is designed to your specifics. You can check out one of the architect’s designs for a Starter Cabin. Each cabin can be finished with the buyer’s specifications to make it feel like home. To see all of the available listings at the Snake River Sporting Club and throughout the Jackson area check out our website at jacksonholerr.com, and make Snake River Sporting Club a place you call home!

Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Snake River Sporting Club Jackson Hole
Ranch and Agricultural Real Estate Jackson Hole Real Estate Company

Ranch and Agricultural Real Estate

Many Jackson Hole Real Estate investors overlook the value of purchasing and owning ranch land and agricultural Real Estate investments for their portfolio. Recently our family purchased the White Arrow Ranch in Idaho. It is a few hours drive from Jackson Hole near Twin Falls Idaho. We had an interest in looking into greenhouse development and desired to place some of our assets outside the resort industry. We are not keen on too wide of diversification, such as mutual funds or investing in the ramped up stock market, so we invested in a ranch with a hot spring located on it. The ranch also came with first line water rights. To our surprise we found our family ranch to be a great asset with many tax and investment incentives as well as protection from becoming too dependent on the supply chain economy we find ourselves in. We also use the ranch for large family gatherings and other recreation activities. You can take a look at our new investment at lauraleefarms.com

For more information and guidance in this field of Jackson Hole Real Estate and Ranch investing please e-mail Ron Miller at ron@jacksonhole.net

To view land for sale in Jackson Hole visit: http://www.jacksonholerr.com/Land/AllLand 

Ranch and Agricultural Real Estate Jackson Hole Real Estate Company
Ranch and Agricultural Real Estate Jackson Hole Real Estate Company
Jackson Hole Commercial Real Estate Expert

Jackson Hole Commercial Real Estate Expert

I can honestly laugh and say that by default I have become an expert in the field of Jackson Hole Commercial Real Estate. I started listing and selling hotels and commercial buildings within 18 months of getting my license 30 years ago as a Jackson Hole Associate for Jackson Hole Realty.  Before our industry even recognized fax machine signatures, I remember sending fed-x packages overnight for both the owners wanting to sell and the buyers wanting to invest in these large deals. As the youngest licensed Realtor in Jackson Hole, at the time, I was involved in complex closings with several lawyers on each side of the closing table were hissing at each other to win for their clients and also wanting me to lower my commissions. I would always tell them that I was very valuable and would have studied to become a lawyer if it paid as much as closing these large deals.

Fast forward 30 years and as a Broker/ Owner of the Jackson Hole Real Estate Company, we personally manage, buy and sell these same hotels and commercial investment properties and can professionally assist others with cash flow analysis, market conditions and how to properly list or sell a commercial hotel or retail property. We also have one of the only property management companies that assist with advanced reservation systems through our powerful jacksonhole.net website. We can also provide management and other needs for investors needing those services. You can visit us for those services at propertymanagementjacksonhole.com or e-mail Ron Miller direct at ron@jacksonhole.net

Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert
Jackson Hole Commercial Real Estate Expert