Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

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.
 

Investment & Vacation Home Markets Waking Up!

by Teri McCarthy

The investment- and vacation-home markets have been among the first to show signs of real estate resurgence, according to the people who keep track of such things (as usual, the National Association of Realtors® is one). It might seem unlikely, given the general view that the housing sector continues to post mixed signs of recovery. But when you think about it, there are reasons why it could make perfect sense. A few that come to mind:

* The price is right. If the overall real estate market is in fact in the process of rebounding, it’s still so early that no one can be certain it will be strong -- or even that it will continue. You couldn’t describe a more appealing situation for small investors who have been biding their time, waiting for the right bargain to pounce upon. Investment home prices rose 6.4% last year (of course, because rents were rising), yet the median vacation-home price was down over 19%! Talk about vacation bargains! All of a sudden, the daydream of affordable ski homes for sale seems to have become a reality.
 
* The market is open. Right now, there are also strong inventories of vacation and resort homes for sale – many of them located in attractive settings, like Jackson Hole. Many of those settings also happen to be the very places where the real estate market is still digging out from under the foreclosure mess. This makes it easy for people to find vacation- or investment-home opportunities that previously would have been out of their price range. 
 
* Interest rates are low. Low interest rates make a second mortgage even more affordable for those seeking a luxury vacation home.  Today's interest rates signal savings throughout the term of the loan, which is even more appealing for those seeking a second home. Combined with the sheer volume of properties for sale, this makes it the ideal time to purchase a dream vacation or retirement home.
 
*Optimism on the rise. When the wolf is at the door, few of us are tempted to make luxury purchases. And for years, it seemed like the only news about the economy was bad. But declining unemployment numbers, soaring stock markets, and the resulting good news for retirement accounts can change attitudes…the same attitudes that underlie investment decisions of every kind. 
 
A second home can be a vehicle to generate investment income. Or owning a vacation home in Jackson Hole 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 mountain homes or resort condos for sale could wind up representing both!  
 
Call me 307-690-6906 if you have any questions about Jackson Hole real estate, the area, or the market.
 

Displaying blog entries 1-2 of 2

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.