Jackson Hole Land

May 16th, 2012

Over 40 homesites have sold in Teton County in the last year ranging from a $178K lot in downtown Jackson (with construction underway) to four homesites in Bar B Bar and Bar B C Ranch north of town.  Another 20-30 lots probably did not appear on the Teton County/Jackson Hole MLS.  We will probably see significant building in the next couple of years as these properties are developed.  Prugh Real Estate sold 3 homesites at Jackson Hole Golf and Tennis in the last year and sold 6 homesites in town.  We closed on another in the Margaret Jaster Addition in East Jackson and are working with the owners to develop a new Dynia designed home in the next few months.

Should you have any questions about homesites, please contact Greg at 307.413.2468 or at prugh.com

Pine Box on Powderhorn Park — Jackson Hole Wyoming

May 16th, 2012

Four years ago we purchased the corner of May Way and Alpine Lane in downtown Jackson, Wyoming..  On May 1, we demolished the old 8 plex to make way for 7 new live/work lofts designed by Stephen Dynia Architects.  Located a block from Whole Grocer, Pica’s, Cafe Boheme and the new post office, this new project will offer first floor office condominium and ADA bathroom with laundry and mechanical room and upstairs kitchen, bedroom and living room.  The space offers 10-12 foot ceilings, modern window systems, custom cabinets, Bosch appliances, and views of Powderhorn Park–and may be one of the last of its kind in the valley.  Spaces are approximately 1250 sqft and 3 are currently spoken for.

Contact Prugh Real Estate LLC at 307.413.2468/prugh.com for more information.

 

Jackson Hole

March 28th, 2012

Contact us today! As much as 50% of the sales this year are not appearing on the MLS. Make sure you are working with a local Jackson Hole real estate company that knows the market.

Jackson Hole Rated Top Ski Town

February 9th, 2012

This is the reason I live here—Jackson Hole was rated one of the top ski towns in the world. Is there any better place to create opportunities for people to live and work?

http://adventure.nationalgeographic.com/adventure/trips/best-ski-towns-photos#/jackson-hole-wyoming-ski_47306_600x450.jpg

July 23rd, 2011

On Monday, to everyone’s surprise, the Town Council voted NO (3-2) on the third reading of an ordinance that would allow renewal and redevelopment of 315 of our AR zoned lots in the Town of Jackson. Currently, AR zoning allows owners to develop AR zoned lots into 3 units with no more than .35 FAR (floor area ratio), but these units must stay as rentals. To sell these properties separately, an owner would need 3 adjacent lots of at least 22,500 sqft—this is called a PUD, sometimes resulting in a change of character in the neighborhood.

The ordinance would allow a homeowner to redevelop his/her individual lot into no more than 3 units, of which the rear (800 sqft max) unit could be sold off. This only pertains to buildings that are either new, built after 1994, and meet today’s building codes, setbacks, height restrictions, etc. Applicable lots must have alley access. This ordinance would have a mandatory public review in 2 years to look at how well the tool worked towards allowing small, market home ownership within today’s neighborhood character while providing no negative impacts.

This tool mostly affects the area near the parking garage, the Brew Pub, Snow King, and Center for the Arts where 90% of the properties are rentals with little investment and upkeep taking place. We need to reinvigorate this area with home ownership, new residential spaces (not larger), sidewalks, garages and storage which will encourage more home ownership, renewal, redevelopment, and investment. Incorporating this change allows young people and first time homebuyers a number of options: single family, one bedrooms and studios on the open market in downtown Jackson. Of 12 new residential building permits in the Town since January 1, 2011, 10 are deed-restricted affordable housing, 2 are free market, of which one is mine.

How many people do you show downtown Jackson who say “this is it?” or “this is all I can afford?” or “I really want to live downtown, but it isn’t nice enough”. You can do something about it. Town needs owners who care and maintain their properties for Town to truly be Heart, not absentee landlords.

Three of the five Town Councilors voted against it on Monday, at the THIRD and FINAL reading to pass the ordinance. I find it ironic that the Town Council will assign priority for infrastructure on Redmond, affordable housing for the Grove and Hall Street, but no priority for renewal of our downtown AR district for smaller, efficient, free market housing. This Town Council has said in their posted Strategic Objectives that they will support housing for lower and middle class families. Yet, this ordinance which would have provided options to these very Jackson families with no public subsidy and no additional density, was voted down in a surprise reversal at third reading.

If you feel strongly about this contact Melissa Turley, Bob Lenz, Mark Obringer, Mark Barron, and Greg Miles towncouncil@townofjackson.com and voice your opinion. Come to the meeting at 6:00PM August 1, 2011 at the Clock Tower Building on Pearl and voice your opinion.

Building in Jackson Hole

July 20th, 2011

$150/sqft. 3000sqft. High end appliances, hydronically heated concrete floors, built in four months. This is the future of Jackson Hole real estate and development.

As there are fewer construction companies, sub-contractors serving the market, lower prices for raw materials, labor, internet pricing for appliances and build.com, cost for construction is the best it has been in 10 years.

Call us to learn for about Jackson Hole real estate and development.

Subdividing AR Lots

July 20th, 2011

One of the hot topics on the table for town planners and developers is wheather AR zoned lots should by right be able to be subdivided. Right now over 80% of the housing units that are zoned AR are rental units. This is one of the main reasons that there is very little pride of ownership in these communities. By allowing people to subdivide AR lots, it will increase development in these communities and provide more housing units. More housing units, some of which will be inexpensive market units that will help first time homebuyers get into the housing market without going through the housing authority or housing trust.

First Time Home Buyers

March 4th, 2010

Now is a great time for first time homebuyers to buy a home. Right now in Jackson Hole there is a large inventory of homes available. Ownership opportunities abound in condominiums, townhouses, and single family houses. Following are reasons to buy today:
1. In the last year there has been a large drop in home prices. An at their peak an 810 West town home sold for almost $1.3 million. Another unit sold in October for $860,000. There is more motivation now than we have seen in the last ten years.
2. The First-time Homebuyer Tax Credit has been extended to promote sales across the country. A first time homebuyer can receive $8000 in tax credit while a repeat homebuyer can qualify for a $6500 tax credit. In order to receive this tax credit you just need to fill out an extra form on your tax return.
3. The FHA is continuing to offer 3.5% down on loans. This means that qualified buyers can get a lown for 96.5% of the value of their home. Saving money on the downpayment can make it easy to go from renting to owning your home.

Movement in the Market

March 2nd, 2010

We are starting to see some movement in the Jackson Hole Real Estate market. There is a noticeable increase in the volume of transactions that are occuring, and not just in the residential market. Just today the old Jackson Drug building that now houses Davies-Reid gallery sold for $4.5 million and a one bedroom Teton Mountain Lodge Condo sold for $500,000. There is also movement in the high end residential market. A high end home in HHR sold for $4 million and a contemporary house in Schofield Patent that was listed at $4,995,000 has been put under contract.

Contemporary Commercial and Residential in Jackson Hole

February 3rd, 2010

Today we showed a client some new commercial/light industrial space south of town. Our listing on Elk Avenue South of Jackson is brand new and was built by Stewart Construction. The building has six different units that each have warehouse space with an apartment above, additionally, four of the units also have an attached office. A few of the spaces are already rented to companies like Brain Farm, Advanced Concrete, and Stewart Construction. There are still intriguing purchase and rental opportunities in this building.

Another project that we have had a lot of interest in lately is our Daisy Bush development in East Jackson. Today there are two lots going under contract. This is an exciting development with contemporary three bedroom, three bath, single family homes that are designed by local award-winning architect Steve Dynia. I believe that Daisy Bush lots are the best value you can find for any lot in town.