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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.
 

Best Year For U.S. Real Estate Market in Five Years

by Teri McCarthy

 

Housing’s ‘Snowball Effect’ Gathers Inertia
 
The Weather Channel has nothing to do with it. What’s happening at the Jackson Hole Mountain Resort, likewise. The ‘snowball effect’ being discussed in print and on TV won’t soften anytime soon.
 
This is an economic snowball -- one that’s gathering momentum following what CNN’s Money website describes as “the best year for U.S. real estate market in five years.” Businesses that stand to benefit from growth in the Jackson Hole housing market are watching closely.
 
The Wall Street Journal’s snowball report took form in last Monday’s Marketplace section, where the top headline read “Housing Recovery Opens Spigot…Makers of Products From Carpets to Air Conditioners Feel Effects of Rebound.”
 
It was even more heartening as a counter to last week’s government indications that the greater economy seemed to slow. The housing sector’s performance was so strong it acted as a tonic to its many associated industries.  The snowball effect was noted widely. The company that makes Carrier air conditioners said that orders rose 20%; Honeywell International reported the “first sign of life we have had in a while.” 
 
Locally, fingers were crossed that Jackson Hole businesses will be swept up in the snowball. National suppliers expected that to happen. “Housing is what we see leading the economy out of the doldrums,” according to the CFO of United Technologies Corp. The WSJ reported evidence that Americans are spending more to build and refurbish their properties.
 
With sales of existing housing registering the largest annual jump since 2004, it should come as no surprise if Credit Suisse’s Daniel Oppenheim proves correct in predicting a 7%-8% rise in home improvement spending. He expects it to keep going for at least the next two years. That’s a pretty solid forecast, and in line with what most observers are saying. 
 
All in all, the boost from the housing recovery is one snowball no one seems to think is likely to melt soon.
 

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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.