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Jackson Hole, WY Real Estate News

By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
690 South Highway, Jackson, WY The building will be complete and ready for occupancy in September 2009. Designed by Steve Dynia, the building will be anchored by a family style Italian restaurant on the ground floor. The building offers tremendous natural light with floor to ceiling glass walls providing views to the south, east, and west. There is a retail unit still available on the ground floor, providing a tenant maximum exposure to the corner of South Highway 89 and Meadowlark. On the second floor, available office suites range from 735 square feet to as large as 2,746 square feet. Lease terms from three to ten years are available. Lease rates begin at $25 per square foot per year, plus building expenses estimated at an additional $5.50 per square foot per year. For further informa...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Located at 36 East Broadway in downtown Jackson, this building is located on the south side of the Town Square. The building has been turned into a commercial condominium, and the unit offered here is on the top floor and contains 2,545 square feet. The space has been previously used as a day spa and as offices for an landscape design company. The unit is offered for sale at $1,081,000. For further information, or to learn more about the Jackson Hole commercial market, please contact: Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and...
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I am pleased to be associated with this new firm.  Please read the recent press release below:Jackson Hole Real Estate Associates – Christies Great Estate’s will open the doors this week as the largest locally owned and operated real estate firm in the region.  The new firm is comprised of some of the valley’s most prominent real estate brokers:  Bob Graham, Karen Terra, Matt and Julie Faupel, David and Devon Viehman, Chad and Dianne Budge, and T. Bomber Bryan.  In addition to the principal group, the organization has over 60 agents and support staff working in its office locations throughout Jackson Hole and Star Valley.  Jackson Hole Real Estate Associates opens with its agents having achieved over 50% market share through the 100 days of 2009.The first quarter of 2009 has been one of...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
The federal government recently released its annual rankings of the most affluent counties in the United States. There are two different reports, and both put Teton County, Wyoming at the top. The first report is from the Internal Revenue Service, which uses the income reported on tax returns as their data source. The second report is the Bureau of Economic Analysis, which takes in data from a variety of sources, including the value of real estate. Both reports conclude that in 2007, Teton County was the wealthiest county in the United States, when measured on a per capita basis. Manhattan (NYC), and Aspen, Colorado are the only other areas in the country to come close, both in terms of average income per person and in terms of the value of real estate. It will be interesting to see how...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
The retail market in Jackson can be broadly defined as consisting of four areas: Town Square, Downtown Local Retail, Highway, and Strip Center. The market standard in Jackson is to quote retail rents on a NNN (triple net) basis, with the rental figures given as an annual amount per square foot. NNN expenses currently range from $3.00 to $7.00 per square foot per year, depending on the age and efficiency of the building. Town Square The Town Square submarket consists of those retail properties lining the Town Square, and those within a block of the Square along either Broadway, Cache Street, Center Street, or Deloney. These four streets bracket the actual square. The retail uses in this submarket are primarily oriented toward the tourist trade, with a strong secondary emphasis on fine ar...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Really, there is. I became a sushi connoisseur many years ago when I was dating a Japanese woman. My wife and I just returned from a visit to Seattle and Vancouver, where good sushi is abundant. Here in Wyoming, you have to look a little harder. In Jackson Hole, I personally recommend Masa Sushi (in the ski village), Nikai Sushi on North Cache street, and Blu Kitchen on Glenwood. Masa is the most traditional, while Blu is locally famous for their French/Asian fusion inventions. All are simply outstanding! Try the truffle fries at Blue for an appetizer. Call me if you pass through our little slice of paradise! Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Val...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Tomorrow is our Rotary-sponsored Highway Clean Up Day! Jackson Hole is an amazingly beautiful place, but you wouldn't always know it after the snow has melted and the sides of the highway are littered with a winter's worth of trash. Rotary organizes this annual event, and we get a great turnout from the town, with hundreds volunteering to pick up trash along the roadsides. We spend a morning picking up and bagging hundreds of garbage bags, then head for the Town Square for a hamburger cookout. The food's free, and the morning spent together in fellowship brings us all together once again. See you out there! Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valle...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Photo taken by May 6, 2009 by Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
  Photo taken by April 22, 2009 by Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Photo taken by April 19, 2009 by Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Go for it!               Photo taken by April 5, 2009 by Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
A sunny Spring morning in Jackson Hole, WY... Photo taken by April 5, 2009 by Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
The number of closings in Jackson Hole picked up ever so slightly over January's .  Discussions with other real estate professionals here also reveals activity is beginning to pick up in the form of both inquiries and showings.  Our office is also seeing purchase contract activity increasing as we begin to move in the the busy summer season.  Here is an overview of the sales activity for February in Jackson Hole:   Recent Sales of Single Family Homes in Jackson Hole - February 2009   Type              Location                     List Price                      Sold Price SF                 Melody Ranch             $1,495,000                  $1,275,000 SF                 Town of Jackson          $699,000                     $615,000 Condo            East Jackson              $370,000  ...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
As a follow-up to an earlier post on this blog the recent announced foreclosure sales seem to be about as interesting as watching paint dry to most people. As reported in the local paper no one is showing up to place a bid on the condos that were up for auction.  Whether this is just part of the overall market malaise that is running through the system or just the fact that the offerings were not that interesting is up for speculation.  In the last week we've also seen an announced foreclosure on a single family home but that one never made it to auction most likely because the owner was able to work something out with the bank or refinance into the lower rates now available.  I'm sure more of this will continue to sort its way through the system but recent efforts by the Fed and Presid...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
A couple of weeks ago there was a front page article in the Jackson Hole Daily about a planned foreclosure auction.  The article stated that there were 17 foreclosure auctions planned and that in all of 2008 the sheriffs office only scheduled 19.  At first blush you might say "oh my gosh,  we've got 17 in a month and a half that almost matches the previous years total"!  Now let me be the first to say I'm not minimizing the seriousness and financial tragedy of losing a home to foreclosure, that would not be right.  But having said that you really have to look at the data to get the full picture.  First, most of the 17 announced are condos.  Second, most are in areas where investors most likely leveraged themselves over the past few years (Aspens/Racquet Club, Teton Village, East Jackson...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Jackson Hole has a wonderful hospital, but it does not have a radiation treatment center. So, every now and again, my Scrabble-playing friend Carole Taylor in the oncology department asks for volunteers to drive cancer patients from Jackson Hole to Idaho Falls so they can receive radiation therapy. I meet some of the most amazing people that way. My newest friend is Letty, who has made the 4 hour roundtrip to Idaho Falls every weekday for the past six weeks. I get to drive on Fridays, and we have gotten to know one another a bit. Letty is an incredible optimist, and I have yet to meet a happier, perkier human being! It really makes my day to visit with her each trip. So for the first four weeks, Letty kept telling me how she is always seeing eagles and owls along the drive, but somehow,...
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
Out cross country skiing... Photo taken by February 21, 2008 by the lovely wife of Tim Bradley, all rights reserved and may not be reproduced without the express written permission of the photographer. Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute. Tim BradleyOwner/BrokerContour Investment Properties220 East BroadwayPO Box 1152Jackson, WY 83001(307) 733-6400www.contourproperties.com  
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By Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY
(Contour Investment Properties)
I live in Jackson, WY, also known as Jackson Hole. Jackson is full of people whose opinions count more because they were born here, or even better, because their grandfather was born here. [Wait a minute, I'm hijacking my own blog...back to the topic at hand] Sadly, I'll never be a "local", since I only discovered Jackson in 1999. But if you come to visit, let me give you a few hints on how to blend in a little better... Come a little closer... It's all about knowing how to pronounce things. For instance, the Teton mountains are NOT the Teetins, they are the Tee-Tahns. And if you have to drive up over Togwotee Pass to Dubois, you should tell people you are heading over Toe-guh-Tee to see your friend in Dew-Boys. Just head north on the highway out of town, past Gros Ventre Junction ("Gro...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
As noted in the Hole Report (see earlier post), sales this year have been much lower than last year.  While activity in the lower end has been almost non-existent (below $1M) the sales in the upper end (above $2M) have been somewhat more favorable.  These sales have had the effect of pushing up average and median prices in most of the categories.  As the economic recovery continues and government policy begins to have an effect we expect to see an increase in activity as we move toward summer and into the second half of 2009.  This will be driven by both sentiment as well as historically low prices and interest rates.  As we caution our clients and potential buyers don't expect the rates to stay this low.  The very actions that help the economy recover will start to drive interest rates...
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By Dana Harris, The Coast Life Team
(Coastal Premier Properties)
The Hole Report, long viewed as one of the valley's authorities on local real estate, is now available.  The report is authored by my colleagues, David and Devon Viehman at our firm Jackson Hole Real Estate & Appraisal.  The report can be read directly on my website now and copies were mailed this past week to everyone in the valley.  The report summarizes market activity for the first half of 2008 as compared to the first half of 2007 (as far as the statistics go).  As those of us who practice real estate here know the market has slowed and the dynamics have now set up and incredible buying opportunity as a favorable combination of pricing and interest rates currently exists.  If you or someone you know is in the market to buy or sell real estate in Jackson Hole, give me a call. Read t...
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