Turning the corner

In case you needed a quick tutorial on the enormous power and scope of avalanches, this incredible video of control work on Kootenay Pass should do the trick.

Here is an article from Money/cnn.com on the continuing rebound of the housing market.

Another article on the benefits of buying versus renting.  It doesn't really pertain to the Jackson market, but it's interesting nonetheless

And another from Fortune Magazine which says despite prices staying stagnate, the housing market has in fact turned the corner.

I had the very good fortune to spend 7 days in Verbier, Switzerland earlier this month.  Having never skied in Europe before, to say I was blown away is a huge understatement. The terrain is unbelievable and it seems to go on forever.  Jackson Hole is a very big mountain, but the Alps are a whole different program.   Here are a few pictures.  (The first one was taken at 5 PM, the last run of the day and we had 2000' of steep, untracked, boot top powder!)

I would also be remiss if I didn't mention Jack Shaw and Susanna Magruder of Epic Europe who organized our trip and did an outstanding job with lodging (perfect), guides (the very best), restaurants(awesome) and just about everything else.  If you're thinking of going to Verbier or anywhere else in Europe, you need to contact them- epiceurope.com or find them on Facebook.  Having someone on the ground before we got there was invaluable!

Real Estate:
22 Properties have gone Under Contract since March 1. Among them:

3br/3ba at the Four Seasons, 2250 sq. ft., Listed for $2,295,000

5br/5ba in Wilson, older home, 6.5 acres, 6000 sq. ft, Listed for $2,295,000 (Orig. $3,995,000)

4br/4ba Granite Ridge Townhouse, right on the slope, 4000 sq. ft, Listed for $3,495,000

3br/2ba 2250 sq. ft house in Cottonwood, .17 acres, built in 1993 Listed for $580,000.

1br/1ba at the Aspens, 750 sq. ft. end unit in the Berry Patch, listed for $280,000

There have been 21 Closings so far in March.  Here is a sampling:

2br/1ba 950 sq. ft in Cottonwood, .25 acres, 1 car garage, listed for $399,000, CLOSED $345,000

3br/3ba 2800 sq. ft house in East Jackson, great views, good shape, quiet street, 2 car garage, .17 acres, Originally listed for $1,475,000 in May 2009, reduced to $859,000, CLOSED $725,000

4br/4ba House in Teton Village (old section) 3000 sq. ft, .9 acres, pretty good shape, Listed for $2,495,000  CLOSED $2,110,000

5br/6ba 8000 sq. ft house off of the Village Rd, 7 acres on the pond, spectacular views, access to the Snake River, very nice house.  Originally Listed for $9,800,000, reduced to $7,800,000, CLOSED for $7,500,000



There are still 16 days left at the JHMR and we've got plenty of snow (18" Monday and Tuesday!)  Get out and enjoy it!  Mandatory Air is playing outside on Saturday as well!  Always a good time.

Looking good for March!

Eighty two inches (82"!) of snow since Valentines Day!  Needless to say the skiing has been off the charts and I'm pretty sure that no one in the West has better snow right now.  Things are shaping up for a great month of March. I took this video of my friend Doug out in Four Pines on Sunday.


This picture was taken by an employee of the JHMR a couple weeks ago.  If you ever get an opportunity to get on an early Tram before the mountain opens, DO IT, it can be magical.

Wolves have found there way to the outskirts of Town and now Wyoming Fish and Game is faced with some very tough decisions.  Personally, I think we should let the wolves be, but I understand both sides of the debate.

Real Estate:

From Jan 1, 2012  - March 1 2012 there were 29 closings of residential type properties (6 over $2M) There were also 9 building lots sold, 4 over $1M
The same period in 2011 produced 41 closings of residential type properties (8 over $2M) yet there was only 1 building lot sold.  This bodes well for all those involved in the construction industry.
It should also be noted that there are 50 properties that are currently "under contract", set to close sometime in the future.
The general feeling of those of us in the real estate business is that things have finally turned and we expect to see inventory continue to shrink and the total number of sales continue to rise.  I'm not so sure that prices are going to rise in the immediate future as Buyers are still being very disciplined but I also don't think they are going to go down.  Jackson seems to lag about 6-8 months behind the national trends and real estate in some of the bigger markets around the Country is starting to really move again.  We are so tied to the stock market here, that if those markets continue to rise, or even stay where they are,  I expect by Summer we will see the effects here.  Look for the high end properties to lead the way, followed by single family homes and condominiums being the last to come around.
A few notable closings in the past 10 days:

4br/3ba in Cottonwood, 3000+ sq. ft., .3 acres, Listed for $550,000   CLOSED $470,000

6br/6bq in Teton Pines, 7600 sq. ft., 1.15 acres, Listed for $2,400,000 CLOSED $2,100,000

4br/4ba in Melody Ranch, 3200 sq. ft., .7 acres, Listed for $850,000 CLOSED $755,000

As always, if you have any questions about these properties or any other properties in the Jackson Hole area, please give me a call at (307) 413-7118.

-Jack