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What Boomers Are Looking For In a Vacation Home

by Teri McCarthy

For Boomers, Buying a Home Reveals Changing Priorities

If Jackson Hole’s baby boomers are echoing national demographics, they are either already enjoying retirement or are preparing for it. But for soon-to-be seniors, that word retirement has taken on some new connotations. Today’s seniors may be headed to a retirement with some major differences.

Taken as a whole, boomers remain a markedly active group — especially true in Jackson Hole where it is not uncommon to see folks in their 70’s and 80’s shushing down the slopes of the Jackson Hole Mountain Resort or Grand Targhee. Yet for those buying a home in Jackson that will make their senior years as comfortable as possible, their choices are bound to differ greatly from those they’ve made in years past. According to the National Association of Home Builders, the 76-million-strong boomer generation is already registering some new preferences:

•    Home offices
Semi-retired is the new retired. Instead of giving up on work completely, many retirement-age homeowners choose to start small home-based businesses to supplement their income (or follow up on their passions). The home office is also a fine command center for researching vacation ideas, running household affairs — or whipping up the next Great American Novel.

•    Large windows
Big windows and superior lighting not only showcase the Teton views and bring home a cheery look, but that light makes everything easier to see and navigate around. Accidental fall prevention may not be the top priority for a member of the 55-plus group who’s buying a home in Jackson, but if the health statistics are correct, it ought to be a consideration.

•    No stairways
Chances are increasingly good that a typical boomer will live a long time, but that also means arthritis and age will come into the picture, as well. Plan for the future by buying a single-level home with no stairways and save those knees for walking the dog and hiking in Grand Teton and Yellowstone Parks!   See all Jackson Hole single level homes for sale at this time.

•    Smart technology
Future retirees have an increasingly sophisticated relationship with technology, so in addition to high-speed Internet access, remote-controlled lighting and alarm systems are becoming more commonplace. 

•    Multi-generational living
Jackson Hole home buyers are showing more demand for guest houses and mother-in-law apartments for aging parents, grown children living at home, and visiting guests.  View currently listed Jackson Hole homes with a guest house or apartment.

Whether or not you are approaching retirement, when you set about buying a home in Jackson Hole, it’s my job to help you find one that will fit your needs for the long term. Contact me today!

America's Best Retreats
Jackson Hole is Number One For a Vacation Home
 
This week's issue of Barron’s magazine features The Best Locations in America for a Second Home, whereGrand Teton National Park Jackson Hole is ranked number one.  During their annual review of the second home market, it was discovered that buyers are fleeing high-tax states and buying up properties in states with less onerous tax burdens. In late 2012, real estate prices have risen, especially in low-tax states, such as Wyoming, Nevada, Florida and Texas. 
 
Wyoming, a state with no debt and a budget surplus of about $1 billion, saw a tax-motivated buying surge in Teton County, the second half of 2012.  Jackson Hole, Wyoming saw almost a 100% increase in luxury home sales compared with the same time period in 2011.   An astonishing forty-one Teton County luxury homes, priced over $2m, were purchased from July 1 through December 31, 2012, with an average sales price of $4,988,171.   The same time period in 2011, twenty-one luxury homes sold with an average price of $4,339,562. The percentage of list-to-sales-price jumped to 93% in 2012 from 89% in 2011.
 
luxury homeBarron’s features Jackson Hole, Wyoming as number one in their list of the twenty best places for second homes. It’s no surprise that people are choosing Jackson Hole to escape high taxes elsewhere.  Besides being tax friendly, Jackson Hole has spectacular scenery and clean air, low crime, year-round outdoor recreation, culture, good schools, wildlife, and it's located next to Grand Teton and Yellowstone National Parks.  There is no state income tax, and property taxes in Teton County are some of the lowest in the nation at approximately $6,000 per $1m of assessed property value. 
 
Barron’s list of America’s Best Retreats for a Second Home:
 
1. Jackson Hole, Wyoming
2. Palm Beach, Florida
3. Hanalei, Hawaii
4. Park City, Utah
5. North Lake Tahoe, California
6. Mount Desert Island, Maine
7. Austin, Texas
8. Aspen, Colorado
9. Wailea, Hawaii
10. Lake Geneva, Wisconsin
11. Vail, Colorado
12. Brays Island Plantation, South Carolina
13. Martha’s Vineyard, Massachusetts
14. Scottsdale, Arizona
15. Palm Springs, California
16. Kiawah Island, South Carolina
17. Hamptons, New York
18. Sun Valley, Idaho
19. Pebble Beach, California
20. Sea Island, Georgia
 
Considering a move to Wyoming?  Take a look at luxury homes in Jackson Hole currently listed for sale in the Teton MLS. Give me a call 307-690-6906 if you would like to know more about Jackson Hole properties and living in Jackson Hole, Wyoming.
 

Buyer’s Agent is Key to Your Jackson Hole Relocation

by Teri McCarthy
Buyer’s Agent is Key to Your Jackson Hole Relocation
 
Uncertain economy or not, we Americans remain a highly mobile bunch. In fact, the Census Bureau says that no fewer than 6,700,000 Americans packed up and moved to a new state in the period between 2010 – 2011, the latest year on record.  Official stats are not yet available for 2012, but the relocation numbers are expected to increase as people continue to relocate in search of more stable economic environments, attractive retirement communities, and/or an improved quality of life. 
 
For just about everyone, even thinking about relocating is a daunting proposition.  If you are considering relocating to the Jackson Hole area, or thinking about owning a mountain vacation home, the surest way to keep yourself sane is to connect with an experienced buyer's agent.
 
A buyer's agent can accomplish several momentous things to simplify your Jackson Hole relocation. He or she can take your "wish list" and find the available Teton County properties that suit your needs. With a good working knowledge of what is available, your agent will provide guidance on the price similar properties have recently commanded. Buyer's agents are contractually bound to have your best interests at heart -- which is why having a buyer’s agent is preferable to using the seller's agent or an intermediary. An intermediary (non-agent) owes no fiduciary duty to the buyer and is not allowed to negotiate on behalf of the buyer.
 
As with any other key professional service provider, you should not be willing to settle for the first person you come across. Interview potential agents as your buyer representative by asking the following questions:
 
Are they are willing to sign a buyer’s agency agreement with you to represent you as a buyer’s agent. Not all Jackson brokerages allow their agents to contract as buyer’s agents. 
How long have they been representing buyers in Jackson Hole?
Is the agent an ABR (Accredited Buyer Representative)?
Ask the agent to provide references.
 
Why hire an Accredited Buyer Representative?  When you look for an ABR before you look for a home, you will be served, not sold. Your interests become his/her interests.  And you will be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services. Plus, a Realtor who has an ABR Designation also has an established track record, with proven experience in representing the concerns of buyers. 
 
Taking the time up front to find an experienced buyer’s agent who will be an advocate for you and represent your best interest, can wind up saving you not only time but money.  Where your new home is concerned, there is really no need to take chances. A great buyer's agent will help make your Jackson Hole relocation as simple and timely as possible.  As an Accredited Buyer Representative (ABR), I hope you will include me on your interview list. 
 

You Can't Ski Into Your Apartment Building

by Teri McCarthy

Vacation Homes are on the Rise

More buyers are investing in vacation homes, and they are choosing places where they would ultimately like to live. They want to live a healthy lifestyle, have a good quality of life, and be in a place where they know their kids and grandkids will love to visit.
 
According to a 2011 survey from the National Association of Realtors (NAR) 19% of homebuyers own more than one home, up 5 percent from the previous year. Further, vacation properties accounted for 27% of all home sales last year.  Buyers are investing in vacation homes now because they know prices are not going lower and they’re seeing the current inventory being bought up. In Jackson Hole, property values have dropped 40-50% since the market peaked in 2007. Many of these buyers are future retirees looking for a deal now while prices are low and interest rates are so favorable.   
 
NAR reports 34% of vacation home buyers plan to occupy their vacation home as a primary residence upon retirement.  Some buyers own three or more vacation homes.  
 
We’re seeing baby boomers planning to retire in a few years, taking advantage of our low market prices, with the intent to move to Jackson Hole when they are able.  They know prices will go up as well as interest rates. The market is at or very near bottom.  There’s no better time than now to start getting to know the market. 
 
You can’t ski into your apartment building.  Some investors are exchanging their investment properties, such as apartment buildings, warehouses or commercial buildings, utilizing the IRS Code 1031 Tax Deferred Exchange.  They’ll acquire a Spring Creek condo or a Teton Village ski-in/ski-out home that will go into a rental pool where it will be professionally managed and maintained by one of Jackson Hole’s many property management companies.
 
A second home can be a vehicle to generate investment income. Or it might be the fulfillment of a long-held dream. For those fortunate enough to have put aside some disposable cash, today any one of those Teton view homes for sale could wind up representing both!  If you’ve been thinking about a vacation home or if you were previously priced out of the market, now’s the time to jump in or you may be kicking yourself, again, when prices move up.
 
Call me today 307-690-6906 for a complete list of available Jackson Hole vacation homes.
 

Displaying blog entries 1-4 of 4

Whether you’re relocating to Jackson Hole, or want to buy a vacation home, primary residence, second home, resort property, condo, townhome, land, horse property, Teton view home, golf estate or ski-in/ski-out home, you’ll find all Jackson, Wilson, and Teton Village real estate listed for sale here. You need an advocate, a buyer's agent to represent your best interest, with confidentiality, Teri will you acquire a Jackson Hole property for your 1031 exchange, investment, second home or future retirement.  Take advantage of the many tax benefits of Wyoming residency. Already own a home in Jackson Hole?  Interested in knowing the value in today's market? Thinking about selling? Talk with Teri about creative marketing to attract qualified buyers for your home.  Teri McCarthy is the Broker/Owner of Jackson Wyoming Real Estate.  Teri holds the designations of ABR (Accredited Buyer Representative), CRS (Certified Residential Specialist) and RSPS (Resort and Second Home Specialist) matching buyers and sellers with Jackson Hole properties since 1989. All rights reserved 2015 Teri McCarthy Inc and Teri McCarthy, Realtor, ABR, CRS, RSPS.