June, 2009

Teton Valley- The New Jackson Hole

Teton Valley
Featured in The New York Times, Teton Valley is a beautiful destination.

“I’ve toured all over the U.S. and never really found a place I wanted to come back to again and again,”

But the valley and its largest town, Driggs, have a way of roping people in. It often happens the first time they get a clear view of the rugged and hypnoticTetons to the east.

The Teton Valley — 15 miles wide and twice as long — is cupped between the Big Hole Mountains to the west and the Tetons to the east, straddling the Idaho-Wyoming border. Along the valley floor, at 6,000 feet, the Teton River and its tributaries ramble through sagebrush, cottonwoods and irrigation lines.

About seven years ago, as people priced out of nearby Jackson, Wyo., looked elsewhere to build their second homes, a resort building boom started that has transformed the valley.

“Now we’re working on the fifth gated golf course community,” said Reid Rogers, president of the Teton Valley Chamber of Commerce.

From Driggs, it’s just a 15-minute drive east to trailheads that lead into the wildflower-filled gorges of the Jedediah Smith Wilderness area. Head in the other direction, and you’ll find a network of single-track trails well-suited to mountain biking. And the Grand Teton and Yellowstone National Parks are just 45 and 90 minutes away.

Residents like to say that the billionaires are forcing the millionaires out of Jackson and into Teton Valley.

The average sale price for a home has leapt from about $248,000 in 2004 to $326,000 last year, according to multiple listing service data compiled by Sotheby’s International Realty in Driggs.

“People are coming from everywhere to get their little part of the West,” said Tom Clinton, a partner in Potter Clinton Development, which is behind the 780-acre Teton Springs Resort near Victor and five other resort and housing projects throughout the valley. These range from a residential subdivision near Driggs to a resort with lots of up to 14 acres adjacent to a golf course designed by Greg Norman.

Typical second-home buyers are baby boomers involved in outdoor sports, generally professionals nearing retirement or already there.

Open land and building lots account for about half of all sales, as is evident at Potter Clinton’s Teton Springs, where lots are marked with red and white signs bearing the names of their buyers: “The Horns, Cedar Rapids, IA” or “The Riggs, Sharon, CT.”

In 1998, the assessed new construction for the year totaled $3 million, said Mr. Young, the county commissioner. That figure is expected to reach $300 million this year. Roads continue to finger into the foothills, ending in cul-de-sacs of modern log homes.

The weekly Teton Valley News keeps track of the number of new homes and subdivisions approved by the county. There were 4,500 approved lots in Teton County in 2004, Mr. Young said. If all pending building applications are approved, and Mr. Young expects they will be, there will be 16,000 lots by next year. “We grow subdivisions, not crops,” said Ms. Anderson, the bookstore owner.

LAY OF THE LAND

POPULATION Teton County, which covers the valley, is home to 7,838 people, and Driggs, the county seat and largest settlement, has 1,253 people, according to 2006 estimates by the Census Bureau.

SIZE The county, with its three towns — Tetonia, Driggs and Victor — spread out along Route 33, is about 450 square miles.

WHO’S BUYING Active baby boomers from across the country.

GETTING THERE Commercial flights go to Idaho Falls Regional Airport, not much more than an hour’s drive to the west, or Jackson Hole Airport in Wyoming, 45 minutes east over the Teton Pass.

WHILE YOU’RE LOOKING The Pines Motel & Guest Haus (105 South Main Street, 208-354-2774) in downtown Driggs is a 100-year-old log cabin that has simple rooms for between $45 and $90 a night. For full pampering, there is the 4,000-acre Teton Ridge Ranch (200 Valley View Road, Tetonia; 208-456-2650), which emphasizes outdoor activity. In winter, double-occupancy rooms range from $545 a night to $2,500 a night for a five-room lodge.

Driggs Idaho Real Estate

Check out the Real Estate in Driggs Idaho with these Driggs Idaho Homes:

We have even more Driggs Properties for sale, see our Teton Valley Real Estate Listings.

driggs

The Offer

Once an offer is made, if you intend to accept the offer, or make a counter-offer, do it as soon as possible. Realize that at any time prior to accepting or countering, a buyer can withdraw their offer.

When you make changes to an offer, they require written approval of all parties for the contract to be enforceable. Know that even minor changes facilitate the opportunity for either the seller or buyer to change their mind.

Closing

To put it simply the last part of the home selling process is closing. It is the time between signing the purchase contract (once an agreement on price and terms has been reached) – and the day the deed is actually recorded transferring title. Once everything is signed, then escrow closes and your home is sold.
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Room to Room Check

Entry way

Clean and polish everything.
Make sure it’s well lit.
Make it clutter free.

Kitchens are under close scrutiny

Clean the exterior of all appliances, including the stove hood filter.
Clean counter tops and cabinet faces, the shiner, the better.
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Review Before Showing

Paint

when it comes to preparing a house, painting gives you the best return for money spent.

Flooring

at the very least, all carpeting needs to be steam cleaned. Any worn, stained or foul smelling carpet should be replaced. Any flooring that is cracked or damaged, should be replaced, if possible.

Clutter

If something is not necessary for your day-to-day life, box it up and store it or throw it out!

Closets

Closets need to be neat, clean, and organized.

Cleaning

the cleaner, the better. Dusting, washing, waxing, polishing everything will always make a good impression.

Lights

clean the fixtures and make sure the bulbs work.

Windows

replace any cracked windows.

Get Ready, Get Set to Show!

It’s time to look differently and unemotionally at your home. Look at it no longer as your home, but as a product to be marketed. Be aware of what you can and cannot change about your home. This knowledge will allow you to concentrate on those items that will bring the highest rewards

First Impressions

The first thing a potential buyer sees is your home from the street. They call that first impression “curb appeal.” Take care to: (more…)

Resource Tools

A Team Effort

The overwhelming majority of home sellers find it advantageous to team up with a Realtor. Rather than attempt to learn about selling a home, most home owners feel that it is better to entrust the sale of their biggest investment to a professional. There are a number of complexities of modern Real Estate transactions that should be considered, not to mention the access to MLS, advertising, marketing and screening which are available to assist the seller. Advice can be given on the condition of the market at the time you are considering selling. Your Realtor will also be able to give you a Competitive Market Analysis for your particular property, which will help you determine the value of your property.

Money Matters

Today’s buyer is well informed and price sensitive. A property that is priced over the market can often deter buyers who are serious about finding a property. If the property is under-priced, it most likely will sell quickly–to the detriment of your net proceeds. Care and research should be taken when establishing the original listing price.
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Selling Rewards and Challenges

Rewards

There may be a variety of reasons if you’ve decided to sell your home. From up sizing, down sizing, cross-country move, it’s exciting to start new adventures. The internet can be an amazing resource for any property seller and we’re here to help.

Challenges

Selling a home can be stressful and time consuming without the right resources and information. There are plenty of practical matters that need your attention. With our online services, you can avoid the potential hazards.

Selling Your Home At A Glance

Simplify Your Experience

From preparing your home, to setting the price, and showing your house when it is on the market, a Realtor will simplify everything. Keep in mind the right agent is often the key to a successful real estate transaction. Our qualified professionals will guide you through the entire process.

Pricing Your Home

Correctly pricing your property is vital. Price your home too low and you’ll lose money; price it too high and buyers will shy away. Your Realtor will be able to give you a Competitive Market Analysis for your particular property, which will help you determine the value of your property as well as advice on the condition of the present market.

Promoting Your Property

When selling your home, you will want effective advertising and marketing. From descriptive, colorful ads to internet options, our Realtors are able to attract potential buyers. Promotional campaigns work best when the home is priced right, the home is properly prepared, and the market is a sellers market. Other factors that would limit the affect of promotional campaigns would also be the competition and the financing.

Prepare Wisely

Whatever work has been done up to this point to sell your home, will only have an effect when a buyer walks into your house for the first time. Never underestimate the affect of positive showing. There are numerous ways to prepare your home for a showing.

Processing the Sale

Once the contract is signed, your Sales Associate will continue to be your advocate and ensure that your best interests are served. Some of the details they will be available to handle are:

  • Schedule all necessary pre-closing inspections.
  • Check finances are deposited according the contract specifications.
  • Keep you informed of any unseen problems that may arise and offer solutions.
  • Present a list of utility companies available for service.
  • Schedule and attend-the pre-closing walk through.
  • Prepare for and attend the closing.