Real Estate Crash thread

[3s]

I personally would rather build 2x 2500sq/ft properties than 1x 5000sq/ft
I think the market will aleays be stronger for smaller houses because you can catch buyer on their way up (to5k)
And you can get people downsizing from 5000sq/ft places

[neckdeep]

Town marketing committee?

Nah, you don't need one of those when you're being pimped by Sotheby's.

Totally unnecessary when there's billionaires gobbling up the Valley. All they have to do is put in a request with their publishing buddies and, boom, here comes yet another article in the Wall Street Journal or Men's Health about how you need to get out to the Teton Valley and buy in RIGHT NOW! QUICK, QUICK.... TARGHEE IS EXPANDING!!! YOU'LL NEVER HAVE ANOTHER OPPORTUNITY LIKE THIS!!!

Funny how the articles always forget to mention that the ghee faces west right into the afternoon sun and is a fucking miserable to ski coral reef once the powder is gone and there's no snow making and the groomers kind of suck for cruising and the typical destination resort skiers don't really enjoy the place and hate the total lack of nightlife. But don't worry they're adding more southwest facing terrain....it might even be skiable for 12 weeks in a good season.

[byates1]

Lol!^

[Toadman]

Wait, there is a fucking McDonalds in Teton Valley now?
WTF?
Guess what the majority of the trash on the side of the road is gonna be.

Hookers and Meth needles?

[Bunion 2020]

Town marketing committee?

Nah, you don't need one of those when you're being pimped by Sotheby's.

Totally unnecessary when there's billionaires gobbling up the Valley. All they have to do is put in a request with their publishing buddies and, boom, here comes yet another article in the Wall Street Journal or Men's Health about how you need to get out to the Teton Valley and buy in RIGHT NOW! QUICK, QUICK.... TARGHEE IS EXPANDING!!! YOU'LL NEVER HAVE ANOTHER OPPORTUNITY LIKE THIS!!!

Funny how the articles always forget to mention that the ghee faces west right into the afternoon sun and is a fucking miserable to ski coral reef once the powder is gone and there's no snow making and the groomers kind of suck for cruising and the typical destination resort skiers don't really enjoy the place and hate the total lack of nightlife. But don't worry they're adding more southwest facing terrain....it might even be skiable for 12 weeks in a good season.

Clearly you belong on the Chamber of Commerce.

[dunfree]

Town marketing committee?

Nah, you don't need one of those when you're being pimped by Sotheby's.

Totally unnecessary when there's billionaires gobbling up the Valley. All they have to do is put in a request with their publishing buddies and, boom, here comes yet another article in the Wall Street Journal or Men's Health about how you need to get out to the Teton Valley and buy in RIGHT NOW! QUICK, QUICK.... TARGHEE IS EXPANDING!!! YOU'LL NEVER HAVE ANOTHER OPPORTUNITY LIKE THIS!!!

Funny how the articles always forget to mention that the ghee faces west right into the afternoon sun and is a fucking miserable to ski coral reef once the powder is gone and there's no snow making and the groomers kind of suck for cruising and the typical destination resort skiers don't really enjoy the place and hate the total lack of nightlife. But don't worry they're adding more southwest facing terrain....it might even be skiable for 12 weeks in a good season.

renting out the shed is California 30 years ago. Renting out the driveway is California 10 years ago

[DoYou WannaDance]

Thing is though, this was supposed to become the worker community for J-hole. We weren't a destination town and we sure as hell ain't exclusively white. 1 in 6 people here are Hispanic. We don't have "mountain town" infrastructure.

But, if $280K only buys this Driggs shitbox, one really has to wonder what the fuck J-hole is going to do for workers. This is really undermining a lot of predictions in regards to how Jackson's economy was going to stay functional.

Yeah. I spent 30 days pondering my life in the Teton County Jail one summer so read the newspaper back to back and saw what rents and property cost. This was 2017. I basically figured that correctional officers working second shift (which was a job that they couldn't staff ever noone wanted) lived the life paid enough for rent and you could nap and ski after your shifts or get a good night the 4 days you don't work.

But yeah you are absolutely fucked on that salary these days trying to live there. Even double your pay and you are struggling big time. Jackson Hole really isn't that expensive I paid under 40 bucks for the motel 6 during presidents vacation week. Last year got the Snake River Lodge ski in ski out for 100. Saw it for 200 over Dr King weekend when I was on the other side of the pass skiing Targhee. Just can't buy now but I'd assume 90% of the populace didn't purchase their homes 2020-2023.

[neckdeep]

I basically figured that correctional officers working second shift (which was a job that they couldn't staff ever noone wanted) lived the life paid enough for rent and you could nap and ski after your shifts or get a good night the 4 days you don't .

Eh....probably not. Believe me when I say a large percentage of the Valley never goes up to the resort and couldn't give a shit if the whole place burned down tonight. Most of the good ol boy, blue collar types have snow machines, not skis, and they don't do the ghee.

[DoYou WannaDance]

Eh....probably not. Believe me when I say a large percentage of the Valley never goes up to the resort and couldn't give a shit if the whole place burned down tonight. Most of the good ol boy, blue collar types have snow machines, not skis, and they don't do the ghee.

Yeah. Noone on the block skied. One guy sold me western wear out of his storage unit he got out the day before me and used to own a western shop got a sick hat and pair of boots he said he could never sell my sizes. Couple people camped and lived in Curtis canyon. Then just service worker locals with no interest in skiing most with opiate habits.

Pretty much just another town in close proximity to a ski resort and I remember joking that it wasn't aspen and they all said 'its getting that way.'

[neckdeep]

I remember joking that it wasn't aspen and they all said 'its getting that way.'

Yeah, I'm not so sure I'll be able to buy a Rolex and a mink coat in Driggs any time soon.

We're like Aspen if Aspen didn't have a historical mining town district, the 4 different mountains and all that nightlife. Sort of like Aspen, if Aspen only had two short streets with businesses and everything closed at 9pm. A bit like Aspen, if Aspen put you in jail for weed instead of having convenient dispensaries.

Aspen? Ummm....maybe Craig, Co but with great views and a decent second tier resort, I guess.

[lifelinksplit]

Since we're talking Driggs. I remember heading down to see a buddy and we were gonna hit St. Anthony for some dunes and 4wheeling. We stayed in Driggs and went out with said buddy and his "friend" who's family went way back there. We went to the old figure 8 races complete with school bus races(Holy fucking carnage). Some dude is absolutely shit faced and jumps into his car which is parked in front of the sheriff. He peels out throwing a shitload of gravel all over the cop car. Sheriff very slowly gets in car and pulls him over. Then literally 5mins later let's dude go. I'm amazed. Then friend of friend says that's his uncle and the only reason he got pulled over was because there were so many people watching...

That was 20 years ago but the local good old boy govt back then was fucking crazy.

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[neckdeep]

Since we're talking Driggs. I remember heading down to see a buddy and we were gonna hit St. Anthony for some dunes and 4wheeling. We stayed in Driggs and went out with said buddy and his "friend" who's family went way back there. We went to the old figure 8 races complete with school bus races(Holy fucking carnage). Some dude is absolutely shit faced and jumps into his car which is parked in front of the sheriff. He peels out throwing a shitload of gravel all over the cop car. Sheriff very slowly gets in car and pulls him over. Then literally 5mins later let's dude go. I'm amazed. Then friend of friend says that's his uncle and the only reason he got pulled over was because there were so many people watching...

That was 20 years ago but the local good old boy govt back then was fucking crazy.

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Hmmm...yep, you got me there. I definitely do not miss that part of the old days.

True story: we once had a sheriff whose primary qualifications for the position was that he had been kicked in the head by a horse and he had been fired from his previous job at the dump for stealing scrap. No fucking way could I make that up.

The police department became dominated by two extremely crooked deputies who were brothers, the Froelich boys. They practically ran the place and had the sherriff intimidated. There was also a power tripping numbskull deputy who made the national papers for the summary execution of a kid's dog. He was more notorious around here for his little habit of planting weed in people's cars to polish his arrest rate. And then there was the psycho deputy who harassed young teen girls and was so crazy he scared the shit out of the other cops. That guy went to the nuthouse after he drew his service weapon on his fellow officers in an argument.

Yeah, fun times....

[byates1]

Having just driven to Jackson thru tv, was amazed at all the empty land. Coming from Bozeman shit it being built everywhere.

[byates1]

Tetonia area beautiful. Those high rolling fields from Ashton to tetonia w the views are something

[neckdeep]

Tetonia area beautiful. Those high rolling fields from Ashton to tetonia w the views are something

There's spectacular 600 ft deep canyons hiding in those fields. Probably the area's best kept secret. Too rough for most folks tho; not many trails and lots and lots of rattlesnakes.

[lifelinksplit]

Yeah there's great stuff there. I've asked before but whats the used to be sketchy bar(used to be a house with front end being the bar) between Ashton and Driggs? I obviously haven't been down that way in quite some time but that old dirt bag motel was the one in tetonia with a shitty hot tub and all the slednecks would leave their beer outside their rooms to stay cold. So we would steal it and then go ski the pass.


Can I find a 2bd 2bath for under 200k? Preferably with quick access to skiing, mtb, and good sushi?

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[snapt]

Yeah there's great stuff there. I've asked before but whats the used to be sketchy bar(used to be a house with front end being the bar) between Ashton and Driggs?

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Rough RIders Saloon, RIP. You could get a beer, burger, and a gun all at once. It was actually never sketchy, they had a big families welcome sign at one point during tourist season.

[rideit]

I always wanted to get a beer in Drummond, but usually I already had a cold one cracked as I was driving 70 around all of those awesome turns. I was lucky no trouble happened before I sobered up.

[lifelinksplit]

Rough RIders Saloon, RIP. You could get a beer, burger, and a gun all at once. It was actually never sketchy, they had a big families welcome sign at one point during tourist season.

I always loved getting a beer there and coming from Montana it always felt like a (ag)community bar. However we ran into one very well endowed lady with a very distinctive scar on her large titties. It was when they had a couple Rottweiler or Dobermans. Prob 98 99ish. She really wanted to take my buddy home and it was hilarious watching the only other 1 or 2 people there watch it go down.

Again can I find a potato farm with 20 acres for around 200k?

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[lifelinksplit]

I would drive by Drummond. But real estate is cheap..

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[yeahman]

I would drive by Drummond. But real estate is cheap..

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World Famous Bullshippers [emoji3]

[neckdeep]

Again can I find a potato farm with 20 acres for around 200k?

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Probably not. To get ag land at ag price you typically have to buy a lot of it. Once you start breaking off pieces, the seller wants some of that higher value. Also, potatoes are an irrigated crop and irrigated land costs 2x-3x more than dry. To get that 20 acres at 10k/acre, you'll need to look for a dry barley field at the end of a long, unmaintained dirt road. And I mean a soft dirt road that will need miles of gravel laid down. There wont be any powerline on that road so you'll have to pay for that as well.

[lifelinksplit]

Well at least there's prob a high chance of said shitty road drifting 20 ft tall requiring heavy equipment that costs almost 200k.

I'll just stay in bumfuck Montana and let the dentists do the real estate speculating.

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[neckdeep]

This is the trophy farm property for sale up there, about 600 acres for appx $15K per. The irony is that 99% of the folks with a spare $10M are not going to be physically fit to climb in and out of Badger canyon. They'll just put up a bunch of no trespass signs, have a very close encounter with a rattler and then never go down there again. Massive oversell on the fishing too. Badger creek is closed in June, the one month you really want to be fishing it. Come July, the spawners are back in the Teton and Badger is mostly dink rainbows in the 6-12" class. Back when it was open in June, I used to fish this property every season. This is where I once caught 125 trout in 6 hours. I hit it up this summer when the Teton got mudded by rains; got around 60 with only 3 over 12". Not my idea of great fishing!



Also, buyers need to understand that living amidst large scale ag has a serious drawback in air quality.. You will be exposed to insecticides, herbicides and fungicides. In harvest season, the land just bleeds thick dust into the air with every gust of wind. I love that area but damn it sure does give me a wicked case of hay fever in the fall.

[Bunion 2020]

Back from the really Big today. Looked at 2 new projects. One is way the fuck up in the Big EZ, beautiful views but the property is littered with small pothole wetlands, most non-jurisdictional so you can fill them in without jumping through USACE hoops. There were elk tracks all over the property. Great spot I guess but you better not forget to pick up that 1/2 gallon on milk cause it is a long way (10 miles, winding steep road) to the store.

Other was in Moonlight, I managed part of the project when they put in the infrastructure 3 years ago, terrible soils (clay and sand and very little top soils) I walked away from that client out of frustration with what they are doing in spite of the feel good mission statements. The site still has very little re-vegetation in spite of all the expensive native grass seed I harrowed in to the place. The soil is kind of sterile.

Both are probably 20 Million dollar projects. What a waste of money and resources.