Grand Targhee is just 15 minutes from this exceptional 3bdrm, 2.5 bath home in Driggs, Idaho.  Priced at just $1,179,000 that Ski vacation cabin you’ve always dreamed of is in your reach.  Furthermore, this home makes sense with 2.11 Acres, fully fenced back yard, mature landscaping, walk-in closets, pantry and 2-car attached garage you have space to live and play.  This property makes for an incredible year-round home and it is also eligible for short-term rentals.

Call today for a tour or click below to take a virtual tour.

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Across the Country, inventory is low.  77% of current homeowners are locked in at less than 5% interest rate making it harder to consider moving.  The economy is strong, labor is strong and the stock market is strong.  Because inventory is tight, prices are holding and in some cases, still climbing.  We have seen that level off in Teton Valley Idaho.  Compared to some of our competitive markets, we are still a value. Certainly, if you compare our costs to Jackson Wyoming, we are a value! To talk about your specific situation, please give me a call today and I’ll see how I can best help. 208.201.5638

https://youtu.be/EdVbGFbASpw?si=gqzipU8uMlj33VLl

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Here it is from Peter Boogaard at Zions Bank for 1/24/24.  Perhaps this isn’t as bad as you thought it would be.

 

 

 

CRA 30 Yr Fixed (Community Reinvestment Act, no mortgage insurance! 3% down)

6.00% with 1% discount fee

6.375% no discount fee

 

AFFORDABLE 30 Year Fixed Conventional 3% down-payment (First-time home buyers)

5.75% with 1% discount fee

6.00% with no discount fee

Conventional 30 Year Fixed

6.50% with 1% discount fee

7.00% with no discount fee

 

Conventional 15 Year Fixed

5.75% with 1% discount fee

6.25% with no discount fee

 

Government Loans – FHA, USDA, VA

5.875% with 1% discount fee

6.25% no discount fee

 

Portfolio 10/1 ARM (Zions Private Label)

6.50% with 1% origination fee

6.875% no origination fee

 

Jumbo 30 Fixed (loan amounts above $766,550)

6.625% with 1% discount fee

6.875% with no discount fee

 

2023 was an interesting year.  Insecurity in the Economy driven by wars and interest rates impacted buyer activity.  Like most of the Country, our inventory in Idaho and Wyoming was low.  Overall, it was 13% lower than 2022.  At the same time, demand remained strong and sales volume overall was up over 20%.  Despite these positive numbers, in the daily trenches we are seeing time on market grow and a softening of list prices.    The biggest slow down appears to be in the areas south of Jackson.  While the market has given a little back to buyers in terms of current list prices, our average price is still up significantly.

What does this mean for you?  As a buyer, the prices now may be as good as it gets.  If you’ve been waiting for the price to drop out of the market, you might be better served making an offer and appealing to a current seller’s sense of urgency.  As a seller, be sure your property is priced correctly.  If your property has been listed over 6 months or if you’ve received multiple “low” offers, the market may be rejecting your price.

The article below states on a National level what I am seeing locally.  Demand is high.  Grant it, our market has definitely slowed this last month but that is normal for this time of year.  Land which will soon be covered in snow typically sees the most slow down this time of year.  This can make a great deal for Buyers now!  While buyer’s get use to the new interest rate reality and the World tries to understand what the fall-out of Gaza will be, we will probably slow down.  However, overall that is not going to lead to significantly lower prices.

https://www.msn.com/en-us/money/realestate/is-the-housing-market-going-to-crash-what-the-experts-are-saying/ar-AAYPyxH?ocid=msedgdhp&pc=HCTS&cvid=a85f32879ea140339c0d20a4d2c07113&ei=8

If you are looking to buy in Teton Valley, give me a shout and I’ll help you navigate this tricky time.

 

Buying a home in Driggs Idaho will make your ski dreams a reality.  As of today, Targhee has received 283″ of snowfall.  Our average is 500″.  The base depth today is at 81″. This is the time of year where you can “point it” and ride pretty much wherever you want.  Grand Targhee is known for beautiful views, intermediate terrain that your whole family can enjoy and NO lift lines.  Yes it is true!  I’ve had a lot of questions about the impact of the new Colter Chairlift.  The main impact has been that aside from losing the best side job I’ve ever had as a CAT Ski Guide, the additional terrain has the affect of really spreading people out on the mountain.  While it might be busy in the Lodge or at the Trap, you won’t feel crowded on the Mountain.

Winter remains a great time to buy real estate in Teton Valley.  You definitely want to work with a realtor who knows what is under that snow and what to look for.  However, there is more inventory/choice to be had, it is quieter so you have more time to contemplate your purchase, and you aren’t competing with multiple offers so you may end up with a better bargain.

Call me to learn about buying property in the winter in Teton Valley. 208.201.5638

A lot of people move to our area wanting open space, privacy and big views.  This home provides all of that but also a grocery store and down town Driggs just 10 minutes away.  The ski resort is only 20 minutes away.https://marketing.realogy.imprev.net/i/1710LeighCreekRd/271170/22-1616/1995/html/video/ActiveStatus/branded/

Sometimes real estate purchases follow a new job, a move or other event where you have to accept the market dynamics and jump in.  In our area, often times these pressures don’t exist for Buyers.  I’ve been getting asked a lot lately by Buyers if they should buy now or wait.  I say maybe buy now!!!  Why?  Everyone is nervous about what the market will do and frankly, it is slower now than it has been in two years.  This gives Buyers two distinct advantages which are a better price and more choice.  First, you have more negotiating power now with Sellers on asking prices that are already reduced from last year’s highs.  It also means you have many more choices on the market for property since more listings have been added.  But what about those interest rates?  Well, if you think that the stock market may increase over the next couple of years or you think that Feds may slow or back off their hikes then it makes a lot of sense to borrow now.  Who thinks they can’t make more than 6% in the market over the next couple of years?????  If the Feds do drop rates then what about a refi strategy down the road?  Then you get the best of all Worlds (best price on house, best selection of homes and optimal use of funds).   My pro tip however is do this if you find a property that you like within your budget.  I’d love to help you with that!