There were more sales in Victor in August than anywhere else on the Teton MLS. Most of this activity was in Teton Springs. Not surprising since prices in Teton Springs have dropped to a point that might make any property owner in Victor sick to their stomach. Some of the higher end properties are priced below $100 per square foot, less than it would cost to build an inferior structure. It is great that these properties are moving so that the market can clear out the distressed and bank owned inventory that is taking value away from non-distressed properties in Teton Valley.
If you are a first time home buyer looking at buying property in Teton Valley now is the time to move. The $8,000 tax credit is going to expire December 1st, 2009 and interest rates remain low. Many people are speculating that the government will extend the tax credit or even expand it to encompass all home buyers but there is no guarantee that this will happen. Personally I think that they will not extend the tax credit and will also scale back other programs that have been instituted to stimulate the economy. The signal being that Bernanke has announced that the economy has stopped receding. This means to me that the Fed will probably start trying to reduce the deficit and stop spending stimulus money. This may be a political move since most of the American population is sick of doling out money to large corporations to keep them afloat.
Expect the 30 year conforming loans to creep us over the next year as the economy recovers and starts to grow. This will be mainly because the bond market will slowly start to recover. It is time to get off of the fence and take advantage of low interest rates and the Federal $8,000 Tax Credit before time runs out. Call me or email me if you would like more info (307) 690-3674 or zacharyksmith@gmail.com
Friday, September 18, 2009
Tuesday, July 21, 2009
Teton Springs
According to the Teton Board of Realtors MLS there are 20 residential listings pending in Teton Springs. It seems that prices have finally come down to a point where banks and buyers can find an agreeable price. Most listings are in the Mountain Meadows subdivision, but there are a few that are in other parts of Teton Springs. If you have been sitting on the sidelines now is the time to get in on the action. Prices in the high-end subdivisions in Teton Valley are selling for around $100 per square foot one half to one third of the price that these houses cost to build. If you have questions please email me at zacharyksmith@gmail.com
Tuesday, May 12, 2009
April Real Estate Statistics For Teton Valley
Hello Teton Valley,
Eleven properties were sold in Teton Valley in April. We are slowly seeing more transactions taking place in Teton Valley as prices come down. If you are a buyer now is a good time to start looking around at what is on the market. Prices are about what they were in 2005 and we should start to see more inventory moving as the summer progresses.
Buyers- There are many reasons to buy right now but the top three are...
-The federal government will give you an $8,000 tax break if you are a "first time home buyer". If you have owned a home in the past you may still qualify. Follow this link for more information on the tax credit.
-Mortgage rates have been hovering below 5%. These are great rates and most analysts prodict that these rates are as low as they are going to get. To check the current rates follow this link.
-Prices are low and the market is saturated. Many sellers are willing to negotiate right now since there are so many homes on the market. If you are planning on making an offer make sure that you use your own Realtor. It is always best to be represented. If you do not have an agent that you are working with email me and I would be happy to help you with your purchase in either Idaho or Wyoming tetonrealtor@gmail.com
Land Listings Sold in April
Single Family Listings that Sold in April
No Condos or Townhouses Sold in April. However, there was a modular home that was listed and sold on a leased lot for $76,900.
A commercial lot also sold in Victor for $230,000. It was listed for $250,000. The total square footage was 1100 Sqft putting it at $209/Sqft.
Email me at tetonrealtor@gmail.com if you would like statistics for any area or neighborhood in Jackson Hole or Teton Valley. Thank you, have a great day.
Eleven properties were sold in Teton Valley in April. We are slowly seeing more transactions taking place in Teton Valley as prices come down. If you are a buyer now is a good time to start looking around at what is on the market. Prices are about what they were in 2005 and we should start to see more inventory moving as the summer progresses.
Buyers- There are many reasons to buy right now but the top three are...
-The federal government will give you an $8,000 tax break if you are a "first time home buyer". If you have owned a home in the past you may still qualify. Follow this link for more information on the tax credit.
-Mortgage rates have been hovering below 5%. These are great rates and most analysts prodict that these rates are as low as they are going to get. To check the current rates follow this link.
-Prices are low and the market is saturated. Many sellers are willing to negotiate right now since there are so many homes on the market. If you are planning on making an offer make sure that you use your own Realtor. It is always best to be represented. If you do not have an agent that you are working with email me and I would be happy to help you with your purchase in either Idaho or Wyoming tetonrealtor@gmail.com
Land Listings Sold in April
| City | Listed Price | Sold Price | Total Acres | $ per Acre |
| Tetonia | $61,000 | $56,000 | 1.82 | $30,769 |
| Tetonia | $350,000 | Not Disclosed | .12 | N/A |
| Alta | $425,000 | Not Disclosed | 4.12 | N/A |
Single Family Listings that Sold in April
| City | Listed Price | Sold Price | Total Sq Ft | $ per Sq Ft |
| Victor | $210,000 | $210,000 | 1325 | $158 |
| Victor | $216,000 | $215,900 | 1410 | $153 |
| Driggs | $239,000 | Not Disclosed | 1320 | N/A |
| Victor | $240,000 | $225,500 | 1447 | $156 |
| Victor | $240,000 | $235,000 | 1332 | $176 |
| Victor | $254,900 | $240,000 | 1483 | $162 |
| Victor | $380,000 | $338,000 | 3500 | $97 |
| Victor | $645,000 | $562,500 | 1459 | $386 |
| Victor | $975,000 | Not Disclosed | 4377 | N/A |
No Condos or Townhouses Sold in April. However, there was a modular home that was listed and sold on a leased lot for $76,900.
A commercial lot also sold in Victor for $230,000. It was listed for $250,000. The total square footage was 1100 Sqft putting it at $209/Sqft.
Email me at tetonrealtor@gmail.com if you would like statistics for any area or neighborhood in Jackson Hole or Teton Valley. Thank you, have a great day.
March Stats (sorry they are late)
Hello Teton Valley,
Ten total properties closed in March of 2009.
Land Listings Sold in March
Condos and Townhouses that Sold in March
Single Family Listings that Sold in March
As we see closings in Teton Springs, especially the REO (Bank Owned) Properties, I think that we will see more buyers come out of the woodwork and make offers. Buyers right now are scared to make the decision to be the first one to make an offer on a property. The bottom of the market is dropping lower than most analysts expected nationally and buyers are in no hurry to jump into the market place. Once buyers think that the prices are as low as they can possibly go some will buy up the really cheap properties and buyers as a whole will become more confident and jump into the game.
Now is the time to list and get your property out there if you need to sell. If you are able to hold onto your property don't bother listing your property until next summer. Prices will float around what it would cost to build that property until much of this inventory in Teton Valley is Sold.
Email me if you would like specific real estate statisics for your neighborhood or any part of Teton Valley or Jackson Hole. Thank you for reading.
Ten total properties closed in March of 2009.
Land Listings Sold in March
| City | Listed Price | Sold Price | Total Acres | $ per Acre |
| Driggs | $405,000 | Not Disclosed | 1 | N/A |
| Tetonia | $199,000 | $204,000 | 20 | $10,200 |
| Tetonia | $200,000 | $200,000 | 20 | $10,000 |
Condos and Townhouses that Sold in March
| City | Listed Price | Sold Price | Total Sq Ft | $ per Sq Ft |
| Driggs | $200,000 | $214,000 | 1537 | $139 |
| Driggs | $234,900 | $209,000 | 1007 | $208 |
Single Family Listings that Sold in March
| City | Listed Price | Sold Price | Total Sq Ft | $ per Sq Ft |
| Driggs | $239,900 | $230,000 | 2303 | $100 |
| Driggs | $250,000 | $213,500 | 1900 | $112 |
| Victor | $269,000 | $269,000 | 2000 | $136 |
| Victor | $375,000 | $330,000 | 3136 | $105 |
| Driggs | $1,175,000 | $1,175,000 | 2743 | $428 |
As we see closings in Teton Springs, especially the REO (Bank Owned) Properties, I think that we will see more buyers come out of the woodwork and make offers. Buyers right now are scared to make the decision to be the first one to make an offer on a property. The bottom of the market is dropping lower than most analysts expected nationally and buyers are in no hurry to jump into the market place. Once buyers think that the prices are as low as they can possibly go some will buy up the really cheap properties and buyers as a whole will become more confident and jump into the game.
Now is the time to list and get your property out there if you need to sell. If you are able to hold onto your property don't bother listing your property until next summer. Prices will float around what it would cost to build that property until much of this inventory in Teton Valley is Sold.
Email me if you would like specific real estate statisics for your neighborhood or any part of Teton Valley or Jackson Hole. Thank you for reading.
Tuesday, March 3, 2009
February Real Estate Statistics for Teton Valley, Idaho
Hello Teton Valley,
Five properties sold on the MLS in February. One twin home and one condo were the only single family sales. Three parcels sold (all of them in Teton Springs). The details of each property follow...
Land Listings that Sold in February (Teton Valley, Idaho and Alta, Wyoming)
Single Family Listings that Sold in February
The total amount of pending listings in Teton Valley, Idaho and Alta, Wyoming as of March 3, 2009...
35 properties
*Some information above is derived from the Teton County MLS system and represents information as submitted by all Teton County MLS Members for Teton County, Wyoming and Teton County, Idaho and is deemed to be accurate but is not guaranteed.
Five properties sold on the MLS in February. One twin home and one condo were the only single family sales. Three parcels sold (all of them in Teton Springs). The details of each property follow...
Land Listings that Sold in February (Teton Valley, Idaho and Alta, Wyoming)
| City | Listed Price | Sold Price | Total Acres | $ per Acre |
| Victor | $125,000 | $117,500 | .5 | $235,000 |
| Victor | $125,000 | $117,500 | .5 | $235,000 |
| Victor | $450,000 | $380,000 | 1.75 | $217,143 |
Single Family Listings that Sold in February
| City | Listed Price | Sold Price | Total Sq Ft | $ per Sq Ft |
| Driggs | $249,000 | Not Reported | 1382 | Not Known |
| Driggs | $295,000 | $265,957 | 1037 | $256/sqft |
The total amount of pending listings in Teton Valley, Idaho and Alta, Wyoming as of March 3, 2009...
35 properties
*Some information above is derived from the Teton County MLS system and represents information as submitted by all Teton County MLS Members for Teton County, Wyoming and Teton County, Idaho and is deemed to be accurate but is not guaranteed.
Wednesday, February 25, 2009
Now is a Time to Act
Statistics for Teton Valley
Use a Buyers' Agent When Purchasing Real Estate
Many people do not know that they can use a Realtor® as a buying agent at no additional cost to them. It is important to be represented, especially in the current market where there are many distressed sellers and buyers looking for rock bottom prices. The best decision that you can make is to select a Realtor® that is looking out for your interests exclusively. This means that you should contact a Realtor® that is not the listing agent in order to be represented properly. Hiring a Realtor® as a buyers' agent costs you nothing and could save you many headaches and money having an advocate working for you exclusively. If you have questions about the process of buying a home or need a Realtor to represent you email me at TetonRealtor@gmail.com
We are starting to see more activity as we approach Spring. If you are looking to buy a home or property in Teton Valley now is the time to start looking around. Prices are low and some sellers are willing to negotiate. If you have been thinking about buying property now is the time to act. Ten properties have sold so far this year and 39 are under contract right now which could be an indication that we are going to see a lot more activity in the coming months. If you are working with a Realtor® call them and have them set up some appointments for houses that you might be interested in. If you are not currently working with a Realtor® as a buyers' agent email me at TetonRealtor@gmail.com and I would be happy to set up some showings for you.
| Statistic | 2/25/09 |
| Lots Listed | 1027 |
| Single Family Listed | 326 |
| Townhouses Listed | 54 |
| Condos Listed | 52 |
| Commercial Listed | 103 |
| Total Units Listed | 1562 |
| Total Units Sold YTD | 10 |
Use a Buyers' Agent When Purchasing Real Estate
Many people do not know that they can use a Realtor® as a buying agent at no additional cost to them. It is important to be represented, especially in the current market where there are many distressed sellers and buyers looking for rock bottom prices. The best decision that you can make is to select a Realtor® that is looking out for your interests exclusively. This means that you should contact a Realtor® that is not the listing agent in order to be represented properly. Hiring a Realtor® as a buyers' agent costs you nothing and could save you many headaches and money having an advocate working for you exclusively. If you have questions about the process of buying a home or need a Realtor to represent you email me at TetonRealtor@gmail.com
We are starting to see more activity as we approach Spring. If you are looking to buy a home or property in Teton Valley now is the time to start looking around. Prices are low and some sellers are willing to negotiate. If you have been thinking about buying property now is the time to act. Ten properties have sold so far this year and 39 are under contract right now which could be an indication that we are going to see a lot more activity in the coming months. If you are working with a Realtor® call them and have them set up some appointments for houses that you might be interested in. If you are not currently working with a Realtor® as a buyers' agent email me at TetonRealtor@gmail.com and I would be happy to set up some showings for you.
Tuesday, February 24, 2009
February Heating Up
We are seeing quite a few pending listings right now in Teton Valley, Idaho. There are 39 total properties that are pending. Of these 7 are condos or townhouses, 12 are single family homes, 18 are lots, and 2 are commercial properties.
Sold listings for February so far... (0)
It looks like Spring will bring more activity than we have seen all Winter.
If you would like specific statistics for your neighborhood email me at TetonRealtor@gmail.com
Sold listings for February so far... (0)
It looks like Spring will bring more activity than we have seen all Winter.
If you would like specific statistics for your neighborhood email me at TetonRealtor@gmail.com
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