Unit Sales By Area YTD September – 2011 vs. 2010
Source – Teton Board of Realtors

Jackson Hole is very finite in terms of real estate. The scarcity of remaining available land and limited land development going into the future, ensures the character and openness of our valley will always remain.

Jackson Hole Airport

Convenient Air Service
The Jackson Hole Airport is situated at the base of the spectacular Teton mountain range. Located entirely
within Grand Teton National Park, flying into the JH Airport is an awe inspiring welcome into the valley.

Jackson Hole is serviced by direct flights to and from Chicago, Dallas/Fort Worth, Denver, Salt Lake City, Atlanta and L.A.

Significant Tax Benefits
There are numerous reasons why those who live in Jackson Hole have chosen to have their primary residences here. Some of those reasons are emotional, such as the sheer beauty of the natural surroundings and the overall quality of life. Other reasons are more practical in scope and include Wyoming’s overall tax-climate benefits, when compared to all other states. For years, Bloomberg has rated Wyoming as the most tax-friendly state in the U.S. Here are the 10 top tax benefits offered by Brian Jones, a senior vice president at Bank of Jackson Hole.

1. No state income tax:  With no state tax on personal or corporate income, “you have more disposable income,” Jones says.

2. Dynasty trusts: In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust. “You can establish a trust in Wyoming for the benefit of your family or other beneficiaries,” Jones says. “You can transfer your real estate into a limited liability company or family partnership and then put that into the ‘dynasty trust,.” As a result, multiple generations can make use of and enjoy the property, without having to pay estate taxes or worse, having to sell the property in order to pay the taxes. A key point to remember: The trust must be administered in Wyoming.

3. No inheritance tax or estate tax: “Wyoming repealed its estate tax as of January 1, 2005,” Jones says.

4. No state gift tax: “Somebody who owns property in Wyoming can ‘gift’ that real estate to their heirs without having to worry about paying a state gift tax,” Jones says.

5. No tax on out-of-state retirement income: “A lot of people in Jackson Hole use Wyoming as a second home,” Jones says. “They have retirement income that comes from other states where they may be a resident. Wyoming doesn’t tax that retirement income that’s earned outside of Wyoming, which is certainly beneficial.”

6. Low property taxes: “Wyoming has very low property taxes compared to other states,” Jones says. “The taxes that you do pay here are based on the assessed value of the property.”

7. No excise taxes:  When you fill up your car’s gas tank or buy groceries in Wyoming, you won’t pay any state tax on your gas or food.

8. No tax on mineral ownership. “A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Jones says. “If you own minerals, you won’t pay a tax on it like you would your home.

9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.

10. No tax on the sale of real estate.

Wyoming’s Fiscal Responsibility
While many states are wrestling with how to close widening budget deficits, Wyoming lawmakers are determining where to park the state’s surplus. Wyoming is a leading mineral producing  state and gets significant revenue from natural gas, coal and other minerals. The Wyoming state budget surplus is more than $1 billion.

Recently reported by the Denver Branch of the Federal Reserve Bank, the current condition of Wyoming’s economic health and prospects for recovery look promising. Here are a few observations:

• After the contraction of 2009, Wyoming has had significant job growth
• Residential construction in Wyoming one of the leading states in the U.S.
• Population and labor force losses remain minimal
• Retail activity is improving
• Wyoming is well positioned for economic health in 2011

The Arts
Center for the Arts- A 41,000 sq. ft. Arts & Education Pavilion, a 500-seat theatre, Music Center, and theater rehearsal space. The Pavilion offers space for 20 nonprofit organizations creating an atmosphere of collaboration and inspiration.This summer the New York City Ballet is in residence in August in Jackson Hole. Other upcoming events this fall include Johnny Lang and Maceo Parker.

Grand Music Festival – Celebrating their 50th year, Grand Teton Music Festival has inspired countless audiences with world-class concerts by the nation’s finest orchestra players. Led by music director, Donald Runnicles, the summer line up includes a stunning festival orchestra each weekend as well as sought after visiting musicians from around the
globe and delightful chamber music.Center for the Arts – A 41,000 sq. ft. Arts & Education Pavilion, a 500-seat theatre, Music Center, and theater rehearsal space. The Pavilion offers space for 20 nonprofit organizations creating an atmosphere of collaboration and inspiration.

National Museum of Wildlife Art – The museum is unique among American art museums, distinguished by its mission and location. With collections of nearly 4,000 works of art, the museum strives to enrich and inspire public appreciation of fine art and humanity’s relationship with nature. Situated just outside the town of Jackson, the museum overlooks the 20,000-acre National Elk Refuge and is en route to Grand Teton and Yellowstone National Parks.

Jackson Hole Art Galleries – There are about 30 to 40 galleries in Jackson featuring the best of Western art and more recently, newer galleries with a broader focus. The definition of art in the town and the surrounding valley of Jackson Hole has expanded with a popular international film festival, dedicated state-of-the art studios, and organizations such as the Art Association.

National Parks and Forest Lands

Yellowstone National Park
Established in 1872, Yellowstone National Park is America’s first national park. Located ninety miles north of Jackson, it is home to a large variety of wildlife including grizzly bears, wolves, bison, and elk. Preserved within Yellowstone National Park are Old Faithful and a collection of the world’s most extraordinary geysers and hot springs, as well as the Grand Canyon of the Yellowstone.

Grand Teton National Park
On the north end of Jackson Hole, Grand Teton National Park preserves a spectacular landscape rich with majestic mountains, pristine lakes and extraordinary wildlife. In the winter, the park’s main roadway is plowed and open for winter travel from the town of Jackson to Flagg Ranch near Yellowstone National Park’s south boundary. The Craig Thomas Discovery and Visitor Center in Moose is open year-round, except for December 25th.

Bridger-Teton National Forest
Easily accessed by Jackson Hole, Bridger-Teton offers more than 3.4 million acres of public land for outdoor recreation enjoyment. With its pristine watersheds, abundant wildlife and immense wildlands, these forest lands comprise a large part of the Greater Yellowstone Ecosystem – the largest intact ecosystem in the lower 48 States. Offering nearly 1.2 million acres of designated Wilderness, over 30,000 miles of road and trails and thousands of miles of unspoiled rivers and streams, the Bridger-Teton offers something for everyone.

Protecting The Lands we Love
Jackson Hole Land Trust and Nature Conservancy

With 97 percent of Jackson Hole’s land protected as national parks and forests, it’s easy to assume that elk, mule deer, antelope and other key wildlife species have plenty of room to roam between their winter and summer stomping grounds. But Jackson is part of a much bigger, scientifically important region, the Greater Yellowstone Ecosystem, and the tiny 3 percent of land here that is privately owned is part of a network of critical migration corridors through the ecosystem.

The Land Trust and The Nature Conservancy are on a mission to protect enough open space for the Yellowstone region’s wildlife to get where they need to go. Through conservation easements and other land-preservation tools, they are working acre by acre to protect important terrain ensuring our valley maintains it visually spectacular character and remains open for wildlife.

As the oldest and largest brokerage

We are dedicated to delivering exceptional service and have a long history of exceeding the expectations of our discerning buyers. We look forward to working with you.

An Inland Island
Jackson Hole’s incredible uniqueness is articulated when you consider that we are virtually an inland island.
Today 97% of our land is forever preserved in national parks, national forests, Bureau of Land management
acreage of the National Elk Refuge and conservation lands, leaving only a small percentage available for
private ownership.

Jackson Hole is very finite in terms of real estate. The scarcity of remaining available land and limited land
development going into the future, ensures the character and openness of our valley will always remain.

Convenient Air Service
The Jackson Hole Airport is situated at the base of the spectacular Teton mountain range. Located entirely
within Grand Teton National Park, flying into the JH Airport is an awe inspiring welcome into the valley.

Jackson Hole is serviced by direct flights to and from Chicago, Dallas/Fort Worth, Denver, Salt Lake City, Atlanta and Los Angeles.

The Arts
Center for the Arts – A 41,000 sq. ft. Arts & Education Pavilion, a 500-seat theatre, Music Center, and theater rehearsal space. The Pavilion offers space for 20 nonprofit organizations creating an atmosphere of collaboration and inspiration.

National Museum of Wildlife Art – The museum is unique among American art museums, distinguished by its mission and location. With collections of nearly 4,000 works of art, the museum strives to enrich and inspire public appreciation of fine art and humanity’s relationship with nature. Situated just outside the town of Jackson, the museum overlooks the 20,000-acre National Elk Refuge and is en route to Grand Teton and Yellowstone National Parks.

Grand Music Festival – Celebrating their 50th year, Grand Teton Music Festival has inspired countless audiences with world-class concerts by the nation’s finest orchestra players. Led by music director, Donald Runnicles, the summer line up includes a stunning festival orchestra each weekend as well as sought after visiting musicians from around the
globe and delightful chamber music.

Art Galleries - There are about 30 to 40 galleries in Jackson featuring the best of Western art and more recently, newer galleries with a broader focus. The definition of art in the town and the surrounding valley of Jackson Hole has expanded with a popular international film festival, dedicated state-of-the art studios, and organizations such as the Art Association.

National Parks and Forest Lands

Grand Teton National Park
On the north end of Jackson Hole, Grand Teton National Park preserves a spectacular landscape rich with majestic mountains, pristine lakes and extraordinary wildlife. In the winter, the park’s main roadway is plowed and open for winter travel from the town of Jackson to Flagg Ranch near Yellowstone National Park’s south boundary. The Craig Thomas Discovery and Visitor Center in Moose is open year-round, except for December 25th.

Yellowstone National Park
Established in 1872, Yellowstone National Park is America’s first national park. Located ninety miles north of Jackson, it is home to a large variety of wildlife including grizzly bears, wolves, bison, and elk. Preserved within Yellowstone National Park are Old Faithful and a collection of the world’s most extraordinary geysers and hot springs, as well as the Grand Canyon of the Yellowstone.

Bridger-Teton National Forest
Easily accessed by Jackson Hole, Bridger-Teton offers more than 3.4 million acres of public land for outdoor recreation enjoyment. With its pristine watersheds, abundant wildlife and immense wildlands, these forest lands comprise a large part of the Greater Yellowstone Ecosystem – the largest intact ecosystem in the lower 48 States. Offering nearly 1.2 million acres of designated Wilderness, over 30,000 miles of road and trails and thousands of miles of unspoiled rivers and streams, the Bridger-Teton offers something for everyone.

Significant Tax Benefits
There are numerous reasons why those who live in Jackson Hole have chosen to have their primary residences here. Some of those reasons are emotional, such as the sheer beauty of the natural surroundings and the overall quality of life. Other reasons are more practical in scope and include Wyoming’s overall tax-climate benefits, when compared to all other states. For years, Bloomberg has rated Wyoming as the most tax-friendly state in the U.S. Here are the 10 top tax benefits offered by Brian Jones, a senior vice president at Bank of Jackson Hole.

1. No state income tax:  With no state tax on personal or corporate income, “you have more disposable income,” Jones says.

2. Dynasty trusts: In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust. “You can establish a trust in Wyoming for the benefit of your family or other beneficiaries,” Jones says. “You can transfer your real estate into a limited liability company or family partnership and then put that into the ‘dynasty trust,.” As a result, multiple generations can make use of and enjoy the property, without having to pay estate taxes or worse, having to sell the property in order to pay the taxes. A key point to remember: The trust must be administered in Wyoming.

3. No inheritance tax or estate tax: “Wyoming repealed its estate tax as of January 1, 2005,” Jones says.

4. No state gift tax: “Somebody who owns property in Wyoming can ‘gift’ that real estate to their heirs without having to worry about paying a state gift tax,” Jones says.

5. No tax on out-of-state retirement income: “A lot of people in Jackson Hole use Wyoming as a second home,” Jones says. “They have retirement income that comes from other states where they may be a resident. Wyoming doesn’t tax that retirement income that’s earned outside of Wyoming, which is certainly beneficial.”

6. Low property taxes: “Wyoming has very low property taxes compared to other states,” Jones says. “The taxes that you do pay here are based on the assessed value of the property.”

7. No excise taxes:  When you fill up your car’s gas tank or buy groceries in Wyoming, you won’t pay any state tax on your gas or food.

8. No tax on mineral ownership. “A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Jones says. “If you own minerals, you won’t pay a tax on it like you would your home.

9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.

10. No tax on the sale of real estate.

Wyoming Fiscal Responsibility
While many states are wrestling with how to close widening budget deficits, Wyoming lawmakers are determining where to park the state’s surplus. Wyoming is a leading mineral producing  state and gets significant revenue from natural gas, coal and other minerals. The Wyoming state budget surplus is more than $1 billion.

Recently reported by the Denver Branch of the Federal Reserve Bank, the current condition of Wyoming’s
economic health and prospects for recovery look promising. Here are a few observations:

• After the contraction of 2009, Wyoming has added more than 3,000 jobs through August 2010
• Residential construction in Wyoming one of the leading states in the U.S.
• Population and labor force losses remain minimal
• Retail activity is improving
• Wyoming will well positioned for economic health entering 2011

Protecting The Lands we Love
Jackson Hole Land Trust and Nature Conservancy

With 97 percent of Jackson Hole’s land protected as national parks and forests, it’s easy to assume that elk, mule deer, antelope and other key wildlife species have plenty of room to roam between their winter and summer stomping grounds. But Jackson is part of a much bigger, scientifically important region, the Greater Yellowstone Ecosystem, and the tiny 3 percent of land here that is privately owned is part of a network of critical migration corridors through the ecosystem.

The Land Trust and The Nature Conservancy are on a mission to protect enough open space for the Yellowstone region’s wildlife to get where they need to go. Through conservation easements and other land-preservation tools, they are working acre by acre to protect important terrain ensuring our valley maintains it visually spectacular character and remains open for wildlife.

Development of advisory board, staff will boost agency, Liebzeit says.

John Resor welcomes Jon M. Huntman to Jackson Hole

When Mr. Jon M. Huntsman visits Jackson Hole, he may not know it, but he has a group of fans anxious for his arrival. In late April, after a speech at the Jackson Hole Sotheby’s International Realty office, Mr. Huntsman was welcomed to St. Johns Hospital for the first time.

The Huntsman Cancer Center in Salt Lake City plays a significant role in the care of cancer patients here in Jackson Hole. Founded in 1995 with a gift of approximately $300 million from philanthropists Jon and Karen Huntsman, the Huntsman Cancer Institute has grown into a preeminent research, care and education institute worldwide.

St. Johns Hospital is in partnership with Huntsman Cancer Institute bringing patient education, cancer resources and a visiting Oncologist to the Jackson Hole valley, Dr. John Ward. In 2010, Dr. Ward received the inaugural Huntsman Cancer Foundation Humanitarian Award.

In Jackson Hole, Mr. Huntsman met with Pam Maples, Hospital CEO, Judy Bayse, RN, Oncology Patient Navigator, Mike Tennican, Hospital Trustee Chair, Liz Finegan, Foundation Executive Director and the staff of the Oncology department at St. Johns Hospital. During a tour of the Oncology department, Mr. Huntsman was able to visit with several of the patients receiving treatment.

Jon M. Huntsman with Pam Maples and Judy Bayse

In an informal meeting after the visit with representatives from the Hospital administrators, staff and board, Mr. Huntsman congratulated St. Johns on its excellent progress in cancer prevention and treatment so far, and encouraged their future success and growth. www.tetonhospital.org/services/oncology-services

www.huntsmancancer.org

The mission of Huntsman Cancer Institute (HCI) at The University of Utah is to understand cancer from its beginnings, to use that knowledge in the creation and improvement of cancer treatments, to relieve the suffering of cancer patients, and to provide education about cancer risk, prevention, and care. HCI is a National Cancer Institute-designated cancer center, which means that it meets the highest national standards for cancer care and research and receives support for its scientific endeavors. HCI is also a member of the National Comprehensive Cancer Network (NCCN), a not-for-profit alliance of the world’s leading cancer centers that is dedicated to improving the quality and effectiveness of care provided to patients with cancer.

First quarter results for the Jackson Hole real estate market show encouraging trends. Teton County has experienced a slight increase in sales volume, and over 57% increase in sold units (graph 1) for Q1 2011 versus the same quarter 2010, a positive indicator for potentially continued improvement in the market.

MLS Sold Units - Teton Board of Realtors

Teton County MLS also shows a significant increase of units sold in the under $1M category of over 85%. In the greater than $1M category, MLS reports a 23% increase in units over Q1 2010.

Regarding dollar sales volume, overall in Teton County Q1 2011 is 12% above 2010 (graph 2). Not surprisingly the average sales price is down to $1.176M in Q1 2011 due to the increase in volume in the middle market segment and the increase in units overall.

Comparison of MLS - Teton Board of Realtors

Jackson Hole Mountain Resort

Regarding dollar sales volume, Teton County Q1 2011 is 12% above 2010 (graph 2). Not surprisingly, the average sales price declined to $1.176M in Q1 2011 due to the increase in activity within the lower and middle segment of the market.

U.S Pending Home Sales Rose in March

Nationally, March saw an increase in pending home sales, with activity rising unevenly in six of the past nine months, according to the National Association of Realtors.

Lawrence Yun, NAR chief economist, said home sales activity has shown an uneven but notable improvement. “Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own,” he said. “The index means modest near-term gains in existing-home sales are likely, which would be even stronger if tight mortgage lending criteria returned to normal, safe standards.”

Taking Advantage of Values

Today, buyers in Jackson Hole are taking advantage of opportunities in the middle market in addition to the high-end, which has already shown improvement in 2010.

Wyoming’s Fiscal Responsibility

While many states are wrestling with how to close widening budget deficits, Wyoming lawmakers are determining where to park the state’s surplus. Wyoming is a leading mineral producing  state and gets significant revenue from natural gas, coal and other minerals. The Wyoming state budget surplus is more than $1 billion.

Recently reported by the Denver Branch of the Federal Reserve Bank, the current condition of Wyoming’s
economic health and prospects for recovery look promising. Here are a few observations:

• After the contraction of 2009, Wyoming has added more than 3,000 jobs through August 2010
• Residential construction in Wyoming one of the leading states in the U.S.
• Population and labor force losses remain minimal
• Retail activity is improving
• Wyoming will well positioned for economic health entering 2011

One important reason that Jackson Hole stands out from all other resorts is

1. No state income tax:  With no state tax on personal or corporate income, “you have more disposable income,” Jones says.

2. Dynasty trusts: In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust. “You can establish a trust in Wyoming for the benefit of your family or other beneficiaries,” Jones says. “You can transfer your real estate into a limited liability company or family partnership and then put that into the ‘dynasty trust,.” As a result, multiple generations can make use of and enjoy the property, without having to pay estate taxes or worse, having to sell the property in order to pay the taxes. A key point to remember: The trust must be administered in Wyoming.

3. No inheritance tax or estate tax: “Wyoming repealed its estate tax as of January 1, 2005,” Jones says.

4. No state gift tax: “Somebody who owns property in Wyoming can ‘gift’ that real estate to their heirs without having to worry about paying a state gift tax,” Jones says.

5. No tax on out-of-state retirement income: “A lot of people in Jackson Hole use Wyoming as a second home,” Jones says. “They have retirement income that comes from other states where they may be a resident. Wyoming doesn’t tax that retirement income that’s earned outside of Wyoming, which is certainly beneficial.”

6. Low property taxes: “Wyoming has very low property taxes compared to other states,” Jones says. “The taxes that you do pay here are based on the assessed value of the property.”

7. No excise taxes:  When you fill up your car’s gas tank or buy groceries in Wyoming, you won’t pay any state tax on your gas or food.

8. No tax on mineral ownership. “A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Jones says. “If you own minerals, you won’t pay a tax on it like you would your home.

9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.

10. No tax on the sale of real estate.

Increased unit sales indicate an overall improvement in the market also. Teton County 2010 results reflect a 29% rise in unit sales…. things are revving up. An exciting number to point out is the number of land unit sales in Teton County which rose 45% when compared to last year. A decline in construction labor costs, suggests that the affordability of purchasing land and building is finally recovering. Recently of note, we are seeing movement in the lower priced condo market with cash buyers taking advantage of some excellent market values.

Inventory Levels
In January of 2008 Jackson Hole began to experience a listing inventory increase that peaked in August 2009. Today, listing volume has stabilized and we are on par with last year at this time.

Jackson Hole Sotheby’s International Realty offers the largest selection of properties for sale in Teton County. Our sales results of 2010 make the point. With a market share of nearly 60% we were involved in twice the transactions and three times the dollar volume of our closest competitor. Experience matters. Please feel free to call or email for additional information.