Living In San Diego

Vanishing Home Inventory in Carmel Valley San Diego?

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Fri, 25 Jan 2013 13:06:30 -0800

2013 - The year of Vanishing Home Inventory

This might just be the year we all look back on as the year of vanishing home inventory in the Carmel Valley San Diego housing market. Nationally the low inventory levels for single family homes, and real estate in general, have been getting a ton of press.

So what is really happening and how does it affect Carmel Valley San Diego real estate prices? Inventory levels in the Carmel Valley area of San Diego have been edging lower now for almost a year and they show no signs of increasing anytime soon. The chart below shows the relationship between what inventory has done and subsequently what has happened to prices.

Carmel Valley San Diego Home Prices

So what is going on with inventory and why are there so few homes on the market in Carmel Valley San Diego? Inventory started dropping in the winter of 2011-2012, this is a normal seasonal phenomena. What wasn't normal is that in the Spring of 2012, when most sellers would begin to list ahead of the busy summer season, inventory never came to market. As the chart show it remained flat through the summer and then tailed off hard in the Fall of 2012. We are sitting at inventory levels we haven't seen in the Carmel Valley area since 2006. Where is the inventory has gone is a complicated explanation because there are many factors at work. Let's take a look at what is going on in the market place.

Home Prices Were Beaten Down

After the financial crisis hit the real estate market took a big hit. People began to lose their homes as they defaulted on their mortgages. Banks began to foreclose and as they did that they beagan to take home inventory onto their books commonly called REO (Real Estate Owned). As the speculated numbers of houses on the banks books grew it began to be called "shadow inventory" by the media because nobody really new the actual total all mortgagors were holding. As defaults grew and the numbers of displaced homeowners grew so did the demand for places for them to live and the demand for rental properties grew.

Enter the Investors

As the number of what became know as distressed properties grew it started to affect home values for everyone. In cities or neighborhoods where there were a lot of distressed properties (foreclosures or short sales) it wasn't uncommon to see home values drop 30 - 60% depending on what county of California you lived in. These lower values eventually kept sellers who might have been in the market to sell basically "off" the market and as demand for rentals grew they decided to just rent and wait it out to see if they could get a higher price for their home down the line when values recovered. The net effect of this was properties that would have been offered for sale were now no longer available because they were rented. At he same time invesotrs flocked in grabbing properties a rock bottom prices and renting them out. For the first time a many years these deal actually "penciled out" and the investors could not only get a return but the promise of getting some appreciation down the line on a sale was very real. This allure has been so strong that even large hedge funds have jumped into the game buying hundreds if not thousands of bargain priced homes.

Foreclosures Wane

With all the complications that came with the "robo-signing" debacle and the judiciary versus non-judiciary foreclosure proceedings in many sates the overall number of foreclosures have dropped. In a recent article in the Wall Street Journal titled "Inventory Takes Center Stage as Foreclosures Fade" they cited that REO inventory fell from 19.6% to 11.5% between January and November of 2012 alone. Couple this with the fact that banks have moved to reduce their exposure to REO by packaging and selling the inventory to investment groups along with the increasing trend in opting for a loan modification or a short sale and you have a recipe for inventory reductions. The short sale market has again been dominated by investors especially in the under $400,000 dollar price point with most deals going for cash. I've personally tried to write deals in this price point for well qualified and pre-approved financed buyers with little or no success.

Happy New Year

With the coming of 2013 we will have to wait and see how all of these factors work out and how, ultimately, the inventory situation ( still at very low levels as of this writing) will affect prices in our local markets. One thing is for sure they aren't making anymore coastal property and the desire to live in Del Mar or Carmel Valley with all of its benefits (climate, education, out door activities, etc.) should in many ways tip the old supply and demand scale toward continued positive appreciation in home prices, especially if inventory levels persist through the summer. If you own a home in the area and need or want to sell you are moving into a time frame where the momentum is shifting back to that of a sellers versus buyers market. Likewise if you are considering buying the time is right now to jump into the market before prices move back to 2006 levels and especially while mortgage rates are still and very low levels.

This is not only my view of what is happening it is shared by many experts as well. Only time will tell which direction prices will head as we move into the historically busy summer season.

Homes For Sale Near Torrey Pines High School

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 09 Dec 2012 17:04:18 -0800

Homes for Sale Near Torrey Pines High School

Looking for homes for sale in Torrey Pines High School District? Well look no further because you can use this customized search to find all the single family homes for sale near Torrey Pines High School. Torrey Pines (TPHS) is a nationally recognized high school and the school district ranks at the top of all San Diego area school districts.

Did you know the high school is a National Blue Ribbon School and a California Distinguished School? TPHS, located in Carmel Valley, had 35 seniors qualify for the National Merit Scholarship in 2010. In the 2011 Greater San Diego Science and Engineering Fair 11 TPHS students placed first in their categories and the TPHS science teacher, Julia Newman, won teacher of the year for the Science Fair.

But It Isn't All Work And No Play!

Besides being academically accomplished the school is also an athletic powerhouse. The TPHS football team that is always a strong contender (and undefeated in their league again) the school also boasts many CIF championships in sports like soccer, golf, swimming, lacrosse and tennis and CIF finalists in water polo and basketball. Many of the athletes get scholarships to distinguished schools such as Notre Dame, Stanford and USC in recognition of their skills and accomplishments. One of the baseball players on the boys team was even drafted by the San Diego Padres in the 40th round! Pretty darn impressive if you ask me. For more information on this award winning school go to Torrey Pines High Schools website.

It's Really All About The Location...

The school is really impressive in its own right and for many reason enough to move here. Speaking of moving here one of the big draws to the Carmel Valley San Diego area is its conveinient location. Nestled in a Valley just east of Del Mar and north of La Jolla this beautful area is close to just about anything you would want to do. Just minutes from the beaches of Del Mar, the Del Mar race track, equestrian facilities, shopping you name it. The Interstate 5 and Highway 56 run through the area so downtown San Diego, La Jolla and the airport are just minutes away. Just to the south is a high-tech area called Sorrento Valley which his home to some of San Diegos best companies like Qualcomm and many other tech and bio-tech companies. Its no wonder many working families with school age kids choose to live in Carmel Valley.

There are Alternatives to the Refinance Backlog

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Fri, 06 Jul 2012 13:26:19 -0700

Some of the bigger banks and financial institutions are currently facing backlogs of as much as 90 days. This situation is being created by several factors including all of the current refinances due to low rates as well as some government sponsored programs. The low rates are driving many homeowners to refinance into what are viewed by many as “rates we won’t see gain for a long time”. The smart money is positioning to have a lower cost of ownership in their homes as many shore up their finances. The Obama Administrations Making Home Affordable program has an option they call Home Affordable Refinance Program or HARP that was designed to assist home owners who are in financial distress keep their homes by refinancing them into a more affordable rate as opposed to foreclosure. The net effect of all of this activity is the institutions that service these types of programs are seeing a big backlog that can affect those trying to get a loan for a regular purchase. This in turn is causing some to turn to Mortgage Brokerages of smaller community or regional banks that aren’t currently servicing these programs. As a buyer you can always ask your REALTOR® for a list of local lender or brokers they have worked with who provide great service. Many of these local and regional banks have more streamlined decision making and underwriting processes that can get you answers quick.

La Jolla Real Estate Market Update - June 25, 2012

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sat, 30 Jun 2012 15:36:23 -0700

The Market Action Index has been trending lower for several weeks now while prices have remained relatively stable. The 90 day average remains in the mid to upper teens. With inventory and days on market relatively unchanged and the Market Action Index decreasing, the market is not sending a strong directional signal for the near-term outlook.

Real-Time Market Profile for the Week of June 25, 2012

Median List Price - $1,499,000

Asking Price per Square Foot - $626

Average Days on Market (DOM) - 169

Percent Properties with Price Decrease - 32%

Percent Re-listed (reset DOM) - n/a

Percent Flip (price increased) - 3%

Median House Size (sq. ft.) - 2566

Median Lot Size - 0.25 - 0.50 acres

Median Number of Bedrooms - 4.0

Median Number of Bathrooms - 3.0

Market Action Index - 17.7 (Strong Buyers)

Rancho Santa Fe Real Estate Market Update - June 25, 2012

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sat, 30 Jun 2012 15:34:22 -0700

Inventory is up and Market Action Index is trending down recently. While the days-on-market appears to be trending lower, the overall conditions are weakening a bit. The market has been consistently cool for several weeks now. Demand level is low relative to the available inventory. It continues to be a Buyer’s market and prices seem to plateauing at current levels even though they have notched own slightly compared to recent weeks. Look for a consistent increase in the Market Action Index before we begin to see prices rise again.

Real-Time Market Profile for the Week of June 25, 2012

Median List Price - $3,390,000

Asking Price per Square Foot - $546

Average Days on Market (DOM) - 234

Percent Properties with Price Decrease - 29%

Percent Re-listed (reset DOM) - n/a

Percent Flip (price increased) - 1%

Median House Size (sq. ft.) - 6531

Median Lot Size - 10 - 20 acres

Median Number of Bedrooms - 5.0

Median Number of Bathrooms - 5.5

Market Action Index - 12.9 (Strong Buyers)

Carmel Valley Real Estate Market Update - June 25, 2012

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sat, 30 Jun 2012 15:31:25 -0700

The 7 day rolling average of our Market Action Index has continued to bounce around the current levels for several weeks now as is still indicating a slight Buyers Advantage. We continue to see prices in this zip code hovering around these current levels. This action may indicate it is beginning to form a bottom after steady decreases since the beginning of 2010. Inventory in this zip code is tightening however days on market has droped and sits at 99. This market continues to be very vibrant and it is one of the most active zip codes in the North County Coastal area, especially in the $700k and below price range. We have also begun to see multiple offers on some properties as buyers compete for decreasing inventory. In some neighborhoods properties have been listing and going under contract in 10 days or less.

Real-Time Market Profile for the Week of June 25, 2012

Median List Price - $939,000

Asking Price per Square Foot - $343

Average Days on Market (DOM) - 99

Percent Properties with Price Decrease - 25%

Percent Re-listed (reset DOM) - n/a

Percent Flip (price increased) - 6%

Median House Size (sq. ft.) - 2660

Median Lot Size - 0.25 to 0.50 Acres

Median Number of Bedrooms - 4.0

Median Number of Bathrooms - 3.0

Market Action Index - 24.5 (Buyers Advantage)

Del Mar Market Update - June 25, 2012

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sat, 30 Jun 2012 15:28:20 -0700

The market has been relatively cool in the last few weeks, look for the Market Action Index to show a persistent shift before prices begin to move up. The 90 day average around 19.0 again this week. Inventory is tightening somewhat and prices have remained relatively flat for several recent now weeks. Days on market is down to 179 from 200 earlier this year. Prices in this zip code haves moved lower over the last few weeks and this weeks action is roughly the same keeping us in that same zone.

Real-Time Market Profile for the Week of June 25, 2012

Median List Price - $1,755,000

Asking Price per Square Foot - $752

Average Days on Market (DOM) - 179

Percent Properties with Price Decrease - 27%

Percent Re-listed (reset DOM) - n/a

Percent Flip (price increased) - 1%

Median House Size (sq. ft.) - 2770

Median Lot Size - 1.0 - 2.50 acres

Median Number of Bedrooms - 4.0

Median Number of Bathrooms - 3.0

Market Action Index - 18.5 (Strong Buyers)

Mortgages rising? Just Say No! Voice your Opinion Today!

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Mon, 27 Jun 2011 14:15:29 -0700

Unless Congress acts, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly. More than 669 counties in 42 states and the territories would be negatively impacted by the loan limit change. The average decline in loan limits would be more than $68,000 nationally, and loan limits for FHA, Fannie Mae, and Freddie Mac-insured loans will drop to 115 percent of the local area median home price with a cap of $625,500. Currently, limits for these loans are 125 percent of local area median home price with a cap of $729,750.

Contact your representaives (you can even do it by email) and let them know this is a big mistake for the housing market.

Is a Housing Shortage on the Horizon?

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Thu, 09 Jun 2011 09:59:22 -0700

According to a recent Realtor.Com article a looming housing shortage may be on the horizon. Over the next decade there may be a shortage of as many as 16 million housing units as construction has dried up during the current economic conditions. Read the whole story at http://www.realtor.org/RMODaily.nsf/pages/News2011060801?OpenDocument.

Now Find Me in California!

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Tue, 31 May 2011 18:01:39 -0700

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PRESS RELEASE
May/25/2011

For Immediate Release
Contact:
Dana Harris

Prudential California Realty

My New Location

and New Contact info

Del Mar, California - May 25, 2011 - Hello friends and family! I hope this finds you all well. As you know we've been getting settled in sunny San Diego over the last year. I wanted to take an opportunity to pass on my new cell phone number and to let you know about my new affiliation.

As of this month I am now affiliated with Prudential California Realty here in the Del Mar Village office. My new cell phone number and contact info are below so you can update your address books to reach me more easily. Over the next few months I'll be rolling out a new website and informational market data on our local market areas. Dana Harris | Sales Associate Prudential California Realty

1234 Camino Del Mar | Del Mar, CA 92014

Office 858.755.6793 | Fax 858.481.4397

Mobile 858.442.5423 | CA DRE# 01898756

email - danaharris@prusd.com
If you or some one you know is in the market to buy or sell real estate please feel free to give me a call. For those who live here in the San Diego area and are curious what their home may be worth please contact me and I would be happy to provide you with a FREE no obligation Comparitive Market Analysis (CMA).

"A referral is sending someone you care about to someone you trust"
Best to All,

Prudential California Realty has been voted the number one real estate company based on sales volume for the last 14 years in a row by the San Diego Business Journal. We are "Rock Solid in Real Estate". # # #

Pearl At Jackson - Sophisticated Urban Living

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Mon, 01 Feb 2010 19:02:02 -0800

Pearl At Jackson is a sophisticated urban mountain development located in the heart of downtown Jackson. This new three-story building features office/retail space on the ground floor and residential condominiums on the second and third floors.

Offering an unbeatable combination of luxury living, in‐town convenience, and green construction, Pearl At Jackson defines urban mountain living in Jackson Hole.

Designed with environmental conscientiousness, the project is on track to become the first mixed‐use project in downtown Jackson to be certified under U.S. Green Building Council’s LEED (Leadership in Energy and Environmental Design) standards.

Strategically located in the heart of downtown Jackson, residents enjoy the nearby comforts of home include gourmet grocery/meat market, coffee shops, a post office, and much more. Local attractions, also within walking distance, include galleries, shops, restaurants and art centers.

Located also in a skier’s paradise, Jackson offers access to Rendezvous Mountain in Teton Village, Snow King Resort, or Targhee located a short drive over the pass into Idaho. The opportunities for winter enjoyment are endless.

The summers offer an equally appealing array of activities, ranging from some of the greatest hiking, biking fishing, golfing and more.

Aside from being a breathtaking mountain community with dramatic views of the Teton Range, Jackson Hole offers vast open spaces and miles of untouched beauty. Located minutes away from the gates of Grand Teton National Park and a short drive to Yellowstone National Park, Jackson Hole is in the perfect escape from the city, and is prime for the outdoor enthusiast.

The residences at Pearl At Jackson offer a rare combination of urban living in a wonderful mountain town.

Commercial Space

·         Five (5) street level suites and four (4) second floor office spaces
·         High profile street presence
·         Large picture windows
·         Direct pedestrian access.
·         Tenant build‐out allowing for distinct customization.
·         Ideal for offices, retail, or galleries.

Residential Space

·         15 units total -No two units alike.
·         Spacious decks- many with additional private outdoor courtyards.
·         Vaulted ceilings.
·         13-16’ windows with southern exposure to maximize solar warmth year round and provide maximum mountain views.
·         “Energy Star” appliances
·         Air Conditioning
·         Elevator access.
·         Sub grade garage
·         Storage units

Location Benefits

·         Restaurants
·         Shopping
·         Museums/Theatres
·         Skiing/Snowmobiling
·         Hiking/Biking/Paragliding
·         Rafting/Boating/Fishing
·         Hunting
·         National Parks

For more information on Pearl At Jackson please contact me at (307) 732-1088 or at (307) 690-5702. You can also visit our website at Living In Jackson Hole.

Jackson Hole Market Hits Bottom

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Fri, 29 Jan 2010 17:40:08 -0800

The Hole Report, compiled by our own David and Devon Viehman, was released last week and has created some controversy. The report remains one of the best sources of information for those interested in Jackson Hole Real Estate. In the report David states that the market has hit bottom but offers some caveats to that claim showing that some segments are fairing better than others while many still struggle. Before you get carried away with claims of the market rebounding 200% plus you need to realize your dealing with the science of small numbers here. If one month you have 4 sales and the next month 8 sales sure you can say it was a 100% increase but you really need to look at the levels and the trends over time to really draw any conclusions. The Hole Report does offer trend graphs that show, while some of the results are improving, we are still not at the levels the market enjoyed back in 2007 by any means. In another interesting move a local title company, Jackson Hole Title and Escrow, put a survey out to realtors, bankers, appraisers, elected officials and others that showed 70% of the respondents think we are either at a bottom or will bottom sometime in 2010. While this is interesting again you have to consider that none of us have ever called a bottom successfully in real estate or the stock market. So how will we know when the market will bottom? For Jackson Hole we have to look at the larger economic picture and to feeder markets for us like New York, Chicago, Atlanta, Miami, Los Angeles and San Francisco. When we see favorable employment numbers and real estate markets beginning to recover we'll most likely see Jackson Hole follow suit as it usually does a year or so later. It could be faster and it could be slower this time, in large part dependent on how the second home market is viewed and how many people decide to leave cities in search of the "simpler life" in the rural areas of the Rockies. The market showing some signs of stability is a good thing don't get me wrong we just need to put the exuberance into some sort of perspective and keep in mind that we fell quickly into this situation but its going to take us a while to crawl back out.

The Hole Report is published semi-annually, with additional email updates for the first and third quarters. While others attempt to report on our market with MLS statistics only (MLS historically tracks 65-70% of the market) we track every single transaction in Teton County. This data-driven report is the most accurate and trusted real estate news source in Teton County, Wyoming. If you would like to sign up for these quarterly email updates, or need more detailed information about our market, feel free to either call or email me at 307-732-1088 or email danaharris@jhreassociates.com .

New Price Reduction - Jackson Hole Real Estate

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 10 Jan 2010 12:22:38 -0800

The seller has just reduced the price again on this very private property in Shootin' Iron Ranches. This beautiful piece of Jackson Hole Real Estate has two spring fed ponds, horse facilities and a 3000 sq. ft. home. There is also a custom 7-stall barn barn that has an additional 720 sq. ft. of space above it that can be finished out as an office, studio or small apartment. The 5.42 acre lot is situated to take in views of the Tetons, Munger mountain and the Snake River Range. The price has been reduced $125,000 and is now listed for $2,200,000. You can find more information about this property and living in Jackson Hole by clicking any of the hyper text links in this blog post.

New Teton Village Office is Open

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 13 Dec 2009 06:39:51 -0800

The new Jackson Hole Real Estate Associates office in Teton Village is now open. The office is located in the Village Center at the Jackson Hole Mountain Resort next to the new aerial tram. Stop by and get your free copy of our newly released winter brochure. You can also visit us at the Teton Club, Jackson Hole's best kept secret. The Teton Club, located at the mountain resort, is Jackson's premier private residence club and quite possibly the best ski-in / ski-out location on the mountain. We've received a foot of new power at the mountain and winter is really beginning to shape up for the holiday's so stop by and say hello while your up on the slopes.

Mortgage Modifications at BofA

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Wed, 09 Dec 2009 12:12:29 -0800

Bank of America said this week it has modified 600,000 mortgages since the beginning of 2008. Interestingly most of the modifications were done through its own programs and some through the governments Home Affordable Modification Program. Remember that B of A was one of the hardest hit in the downturn and received billions in assistance from the Federal Government, much of that in the wake of it absorption of Merill Lynch. The bank has also announced it will repay its $45 billion in TARP money by using its own cash as well as some its going to raise. Could this be a sign that banks are really starting to stabilize? Will we start to see credit ease and home loans start to increase again?

Jackson Hole: 15 E Deloney / Jackson Drug Building

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Mon, 30 Nov 2009 13:31:47 -0800

Via Tim Bradley, CCIM Jackson Wyoming Commercial Real Estate (Contour Investment Properties):

This iconic Jackson Hole building is right on the Town Square, and was home to Jackson Drug for decades. Generations of visitors to Jackson Hole remember getting an ice cream shake at the famed soda bar in the building. Built in 1932, the building has a stacked stone foundation, a basement, and two floors above ground. The ground floor was home to the soda fountain and Jackson Drug, and the second floor had an apartment that was home to many generations of ski bums.

When the druggists decided to retire in 2001, we brokered the lease of the building with a purchase option in the lease. The new tenants exercised the purchase option in 2005. They remodeled the building beautifully, adding structural supports, rewiring the interior, redoing the apartment upstairs, and upgrading the facade of the building. The soda fountain was taken out, and the building became home to the Davies Reid Gallery, showcasing fine rugs from Pakistan along with art and curios from around the world.

In a sign of the times, the building was recently posted for foreclosure. The owners listed the building for $6,975,000 early this year, and the price has now dropped to $5,400,000.

For further information, or to learn more about the Jackson Hole commercial market, please contact:

Tim Bradley
Owner/Broker
Contour Investment Properties
172 Center Street, Suite 200
PO Box 1152
Jackson, WY 83001
(307) 733-6400
www.contourproperties.com

Tim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute.

The NAR Predicts Sunshine and Lollipops

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 22 Nov 2009 13:20:57 -0800

Via Linda Davis (RE/MAX Realty Group):

I just returned from the National Association of Realtors convention in San Diego. NAR's chief economist Lawrence Yun spoke to a room packed with REALTORS® and projected that real estate prices would climb about 4% in 2010, while the number of home sales will increase 15%. He also predicts that foreclosures will peak during the first half of 2010 and that Realtor incomes will go up 20 percent next year.

I'm an optimist. Sometimes I even show Pollyanna tendencies, but I just can't join the partying that is breaking out in real estate offices across the nation based on his predictions.

In newspapers and blogs, the mockery has already begun. Take this typical response to Yun's predictions from The Wallet Pop blog: "The good news: National Association of Realtors chief economist Lawrence Yun is predicting that home prices will rise 4% in 2010. The bad news: Lawrence Yun has never been right about anything in his entire life, ever."

A comment on Yun's prediction on the FreeRepublic website by the Antiyuppie was simply "This guy (Yun) was hired because Baghdad Bob had already been snagged By Al-Jazeira. Really."

The Wall Street Journal's Market Watch reported Yun's predictions and has received 200 comments. The most popular comment as voted on by readers was by Economutt, "Gee, I better run out and buy a house before they're all gone. ;-)"

How many times does an economist have to be wrong before people stop taking him seriously? Why do NAR economists as well as real estate association executives feel the need to serve as cheerleaders?

Wouldn't a good dose of reality serve us, as well as the public, better?

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Buesiness Card.

Old Time Rainers keep asking if I'll ever do another Carnac Post. I'm trying to muster up some predictions for 2010.

Teton County Property Taxes

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 22 Nov 2009 11:55:18 -0800

It seems like I'm on tax theme as I blog today. Recently I've received a lot of questions about property taxes and how they are calculated from those looking to relocate to Jackson Hole. First Teton County enjoys one of the lowest property tax rates anywhere in the country. In fact the only states with significantly lower taxes would be Alabama and Louisiana (2006: American Community Survey, Tax Foundation Calculations). Teton County uses a mill levy applied to an assessed value that works something like this:

Let's say the property is worth $1,000,000, and the mill levy rate is $57.32.

Multiply $1,000,000 (appraised value) by 9.5% to get $95,000 (assessed value).

Now multiply $95,000 (assessed value) by 0.05732 (mill levy divided by $1,000) to get $5,445.40 (annual taxes).

For the formulas to do your own calculations you can go to our property tax page. To download a table of mill levys or to look up property taxes for a specific property you can go the the Teton County Assessor's website or contact us for more information.

Tax-Friendly Wyoming

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 22 Nov 2009 11:03:12 -0800

There are plenty of great reasons to live in Wyoming: the mountains, the black hills, the big rivers, trophy hunting and fishing, our national parks and substantial public lands, the grand vistas, abundant wildlife and friendly fun-loving communities. One of the main considerations for many when looking to relocate is the cost of living in a particular area. That cost of living is many times heavily weighted by what you pay in taxes. Wyoming residents enjoy a lower tax rate that most any other state and has been cited by Bloomberg Wealth Management as “the most friendly tax state in the country”. Lower taxes means more money in your pocket to enjoy the Jackson Hole lifestyle. For more information go to our tax-friendly Wyoming page.

Shootin' Iron Ranch - Price Reduction

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 22 Nov 2009 10:51:27 -0800

This beautiful horse property in Shootin' Iron Ranches has been reduced in price from $2,475,000 to $2,375,000. The home is situated on 5.42 beautiful acres with 2 ponds, incredible mountain views in all directions and a custom 7 stall barn.

For more information on this property to our Jackson Hole Real Estate listing.

Living In Jackson Hole now on Twitter

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 01 Nov 2009 14:37:30 -0800

Recognizing the power of social networking and its growing use in the busness world, Living In Jackson Hole has launched a Twitter feed. The Twitter feed joins our other communication tools including Facebook, LinkedIn and Skype. You can check out our links on our website at:

http://www.livinginjacksonhole.com/index.cfm?id=communicate

To follow us on Twitter click on the Twitter logo

Jackson Hole 3rd Quarter Market Update

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Sun, 01 Nov 2009 13:44:32 -0800

The Jackson Hole 3rd Quarter Market update has just been uploaded to the website. The link to the report can be found at http://www.livinginjacksonhole.com/index.cfm?id=market_update and can be viewed full screen using our DocStoc viewer. The website also contains back issues of this report.

The Hole Report is the work of our Jackson Hole Real Estate Associates, David and Devon Viehman. The Hole Report is the recognized leader in market information for Jackson Hole. The report is published semi-annually, with additional email updates for the first and third quarters. While others attempt to report on our market with MLS statistics only (MLS historically tracks 65-70% of the market) we track every single transaction in Teton County. This data-driven report is the most accurate and trusted real estate news source in Teton County Wyoming. If you would like to sign up for these quarterly email updates, or need more detailed information about our market, feel free to either call or email me at 307-690-5702 or email me at danaharris@jhreassociates.com.

John Dodge Lot - Price Reduction

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Tue, 20 Oct 2009 19:42:02 -0700

This beautiful lot in the prestigious John Dodge subdivision has been recently reduced in price from $1,695,000 to $1,395,000. The lot is conveiniently located just minutes from the Jackson Hole Mountain Resort and the Teton Pines Country Club in Jackson Holes popular West Bank area. This lot is flat and has trees, views and a great location and is perfect for building your Jackson Hole dream home.

Shooting Star Golf Course - Player Report

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Mon, 20 Jul 2009 11:53:38 -0700

I finally got to play the new Shooting Star Golf Course at Teton Village. To say the course is picturesque is an understatement, the views from in and around the course are absolutely incredible. With a few exceptions you barely see any homes or buildings as you play the course which a design trick favorite of Mr Fazio. Speaking of buildings the over 40,00 sq. ft. clubhouse is very nicely finished and the men's locker room and lounge is very roomy and comfortable. This course can be played easily from the blue or gold tees, the black tees are long and the championship tees make this course down right monstrous at about 7550 yards. Something really amazing is that water comes into play on about 12 of the 18 holes depending on tee and pin placement, making for both a beautiful and challenging round here. The par 4's are some of the longest in the area, my favorite #14 at 449 yards from the gold tees. You also get to finish at the club house with #18, another par 4 at 442 yards from the gold tees. This hole has the potential to be a game killer, dog leg left with water, however favorable tee placement that day gave us a small victory. The upside to finishing the round, ice cold Stella on tap in the members lounge. This course, although newly opened and still maturing, is sure to become the areas best overall private facility taking lnto account accommodations, location and obviously the course. You can click here to compare other Jackson area courses on my website to see a heads up comparison. It is activities like this that make owning real estate in Jackson Hole so rewarding (spoken like an addicted golfer). Besides golf this beautiful area offers so many rich and memorable experiences like fly fishing, hiking, cycling, camping and the list goes on and on. If you'd like more information about the real estate options available at Shooting Star or other areas of Jackson Hole please give me a call. We'll help you make the Jackson Hole lifestyle your own.

A few iPhone pictures from the course:

Jackson Hole Real Estate Associates On-Line Brochure Available

Dana Harris - Del Mar Realtor (Real Living Lifestyles) — Tue, 14 Jul 2009 22:53:22 -0700

The Jackson Hole Real Estate Associates property brochure is now available on-line. You can browse the entire digital Summer 2009 catalog by clicking on this link. This is a great way to "take it easy on the environment" and you can easily forward it to any of your friends and associates who are interested in Jackson Hole Real Estate. If you have any questions about our featured catalog listings or if you'd like information on the other opportunities here in Jackson Hole please give me a call. Of course if you want one of our high-quality brochures (designed by our own Devon Viehman) I would happy to put one in the mail to you just click here to fill out the form and include your mailing address in the comments field.

Happy Summer!

Dana Harris