Teton Valley Real Estate, Idaho, Driggs Victor Tetonia, Alta Teton Valley Idaho, Driggs, Victor, Tetonia, Alta Real Estate Sales

When average house prices in Teton County surged past the $1 million mark in recent decades, buying a home seemed out of reach for many working in the valley.  In post-recession 2011, some homes are now being listed at prices that would be considered reasonable.  “For the first time in many years, there are 13 homes for sale throughout the valley for under $500,000,” stated The Hole Report, a real estate analysis released earlier this week. “The least expensive home is listed for $299,000.”

The seemingly affordable prices for homes — not condos — are part of a broad picture of the valley’s real estate market, report co-editor David Viehman noted in the most recent analysis that focused on the first quarter of 2011. Slowly, sellers have begun to realize they most likely won’t get the mid-2000s prices for their properties.

Some sellers, though, still hope they can get peak prices in an economic downturn.  As of April 1, 81 of 233 single-family homes for sale were listed for less than $1 million. Single-family home sales continue to remain relatively strong, with the number in the first quarter up 48 percent when compared to the first quarter a year ago. The mean sales price of a single-family home is down 21 percent in the first quarter when compared to the same quarter last year, but the median price is down just 2 percent.

“What is this telling us?” asked Viehman, whose report can be found at jacksonholereport.com. “The upper-end of our single-family home market is still the strongest segment for home sales.”

Sales in the lower end of the single-family home market are not as strong because they are driven by residents, many of whom are not completely confident with the Jackson Hole economy.

Overall, 96 properties sold in the first three months of the year, Viehman reported. That is an increase of 45 percent from the same period the year before.

In the first quarter, 19 distressed properties sold. Distress sales are classified as short sales or foreclosures.  Such distressed properties will continue to impact the market, Viehman said. The trend of fewer short sales and more foreclosure, or bank-owned, sales, points to the string of distressed-property sales coming to a conclusion, Viehman said.

For the coming season, Viehman predicted sales would continue but not at a fast clip.  “We are still predicting a slow recovery through the summer,” Viehman wrote. “Based on the number of active listings, we also predict that only 45 [percent] to 50 [percent] of the current listings will sell by the end of 2011.”

Gorgeous 4.07 acre Yellow Rose lot, gently sloping with elevated views over Teton Valley, adjacent to very nice seasonal creek, horses are allowed. Property is partially in grain, partially undisturbed natural western landscape. National Forest access provides easy all season recreation opportunities. Super nice at a reasonable price. Additional, adjacent acreage is also available, some at exceptionally affordable prices.

Priced at $199,000  Call, text or email Dave Dery for details, 208-709-4155,  dave@altarealty.com.

Your Teton Valley, Driggs ID, Realtor

As reported in the Teton Valley News on January 5, 2012, Grand Targhee is offering free skiing for skiers and riders who have bought a season pass to any U.S. or Canadian Ski resort for the 2012 season. The offer is good for any skier who books three nights or more lodging through Grand Targhee’s website or central reservations.

Targhee has received 142 inches of snowfall this season and has a 47-inch base.

“We respect how precious skiing and riding is to the die-hard winter enthusiasts who commit to season pass purchases,” said Ken Rider, director of marketing & sales for Grand Targhee Resort. “Weather is fickle and we realize that every resort is but one big dump away from the record conditions we all enjoyed last season. For now, we have gotten loads of snow and we want to reach out and use this early season to introduce skiers who love powder to the 2,602 acres available at the ‘Ghee. All three mountains, Fred’s, Peaked and Mary’s are open with 100 percent of our terrain. We think it’s a good time to plan a ‘break away’ to Grand Targhee for a long weekend or full week of skiing.”

The offer is good for any season passholder from any U.S. or Canadian resort that holds a valid 2012 season pass. The offer is good for free skiing for one day for each night the skier books in Grand Targhee’s properties. Some 150 properties are available for booking and guests utilizing this offer must stay a minimum of three nights. Offer is good while lodging availability lasts. Lodging rates range from $98 per night to $599 per night. Currently, adult daily lift tickets are $69.

“We are all skiers and riders,” Rider said. “Obviously we want every resort in the world to be blessed with ample snow. As long as Targhee is blessed this year, we want to share it with everyone who can make it up here. The conditions are incredible and offer a variety for all levels of skiers and riders-from powder, steeps and cliffs to nice long groomers.”

The Teton Valley Great Snow Fest exists to bring joy, excitement, and economic vitality to our community during a traditionally slow time of year.  The Festival will bring hundreds of visitors to the Valley, offering a boost to local businesses and exposure to local nonprofits, while providing fun and diverse events for all ages.  The Festival is designed to produce measurable growth in our economy, with momentum that will be carried on from year to year.