11/21/08
What a Turkey
The idea that Jackson is immune to the world economy is clearly dead. Not only is the Real Estate market very slow (although some things are selling-see below) but were now seeing the effects in all aspects of the local economy. There are very few help wanted adds in the paper, there is an abundance of rentals available (56 condo’s or houses for rent in the Jackson Daily last week!) primarily due to condominiums that are for sale, who’s owners are now looking to rent them until the market turns around. For the first time in the 18 years that I've lived here we're seeing layoffs in all segments of the workforce, from the title companies, to architecture firms to retail stores. These are people who've had steady, year round jobs for many years who all of a sudden are out of work. And I'm not counting the many, many real estate agents who have effectively been unemployed for the past 6 months or so.
Here are three pictures I took of developments going on in the Town of Jackson. based on the number of people working at each site, it appears that all three have slowed down their operations. I'm just basing this on my observations and have only heard rumors. No hard facts.![]()
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Here is a picture I took of the new Tram Building and you can see the Red Box in the back round. I've been told by good sources that everything is on track for a 12/20 opening. It’s pretty exciting. ![]()
Here is an interesting article on the budget cuts coming to the County due to a decrease in sales tax revenue this Fall.
This is a pretty good deal if you're thinking about coming to Jackson this winter.
My brother Ben sent me this clip. As long as Sarah Palin keeps her face in public view, she’s fair game. Happy Thanksgiving Sarah!
Real Estate:
9 listings went under contract in the past couple weeks.
4 of those were over $1,000,000
3 of those were over $3,000,000, with 1 listed over $5,000,0000
A 6br/7ba house on 33 acres bordering the Snake River was listed for $28,900,000, dropped to $19,900,000 and CLOSED this week although have not heard the price. That is a big sale.
A 3br/2ba , 2770 sq. ft house off of Nethercott in Wilson on 3 acres was originally listed for $2,600,000, dropped to $1,995,000, CLOSED for $1,850,000. It’s a beautiful lot but the house will need some work.
5br/4ba 3800 sq. ft. house on just over an acre North of Town, across from the Fish hatchery, Listed for $1,890,000, reduced to $1,795,000, CLOSED for $1,550,000.
A 5br/3ba 5900 sq. ft. house on 6 acres in Wilson, beautiful lot, built in 1978, remodeled in 2007 was listed for $3,995,000, just reduced to $2,995,000! That’s a 25% reduction. Sign of the Times….
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