On the Market
Tom Ross' On the Market column appears Sundays in the Real Estate section of the Steamboat Pilot & Today. Contact him at 871-4205 or e-mail tross@SteamboatToday.com
The Steamboat Springs Board of Realtors again is awarding scholarships to Routt County high school students wishing to continue their education.
Contact high school guidance counselors for application guidelines, or visit the Board of Realtors Web site at www.ssbr.org. Call the Board of Realtors at 970-879-4663, ext. 11, for information or assistance. The deadline to submit scholarship applications is April 2.
Prudential’s Wolfe gets international certification
Peggy Wolfe, of Prudential Steamboat Realty, will be awarded the Certified International Property Specialist designation and will join a worldwide referral network of real estate practitioners with expertise in working with international clients.
The designation is awarded by the National Association of Realtors, which represents more than 1.2 million U.S. Realtors. Wolfe will be formally recognized at the association’s Midyear Legislative Conference & Trade Expo on May 12 in Washington, D.C.
Members of the global network are crucial players in today’s global real estate market. The Certified International Property Specialist designation recognizes members who have achieved the necessary training and experience to work successfully with international clients and properties. To earn the designation, Realtors complete coursework devoted to learning cultural differences and international business practices. Designees also must prove achievement in international real estate transactions. Wolfe joins a group of more than 1,600 real estate professionals who have earned the designation.
In addition to the designation, Wolfe is a graduate of the Real Estate Institute, is a Resort and Second Home Property Specialist, and holds the Transnational Referral Certification.
Jackson, Wyo., seems to have competitive edge
Reporter Thomas Dewell, of the Jackson Hole News and Guide, reported this month that sales in Teton County were up through the end of February and that relatively low inventories and Wyoming’s favorable tax laws give Jackson a competitive edge over other mountain resort towns.
“January and February were marked by a handful of transactions in the $5 million to $10 million range as buyers sought and completed deals,” Dewell wrote. “The market for condominiums costing less than $500,000 and homes less than $1.5 million, however, remains slow because banks continue with stringent lending and the number of jobs in the valley remains constricted compared to previous years.”
There were 20 transactions with a total dollar volume of $46 million in the first two months of 2010, said Scott Yandell, Bank of Jackson Hole chairman and CEO, Dewell reported. That compares with nine transactions and $15 million in dollar volume for the same months in 2009, the market’s low point after the global financial downturn hit the valley.
The under-$1.5-million segment of the market remains slow because buyers must have excellent credit scores and show the ability to generate income to get loans, Yandell told Dewell.
“The people coming to Teton County are being driven to domicile in Wyoming, to get out of states with high taxes,” Jeff Fuechsel, president of Bank of Jackson Hole, told Dewell.
Although the high-end segment of the real estate market has not been as robust as in the past, transactions continued through the past year. Fuechsel cited Indian Springs subdivision, which had six properties listed in the past 18 months and four sold. The sales prices ranged from $5 million to $10 million.