Rick Armstrong - Jackson Hole Real Estate

The indymac deal hits a snag over the one billion dollars Fannie Mae says Indymac owes to them for bad loans.

Indymac sells for 13.9 billion to a partnership of titans that include George Soros, Michael Dell, and the Flowers group that is a conglomerate of hedge funds. So this is a continuation and result of the mortgage meltdown. Seems like a smart play to me. If the mortgage market recovers they should see positive returns. If the business fails they should qualify for some of the bailout funds. A win - win for them

Jackson Hole ski report is as follows. The skiing is incredible right now. We have colder temps that have dried out the surface snow that fell very warm and wet over the last three days. Another storm is poised to hit the region on Monday or Tuesday. Avlanche hazard remains high in the back country and is not recommended.

Please feel free to check out my blog at www.realestatejackson.com for more detailed info.

Jackson Hole real estate has seen continuous increases year over year for basically 15 years now. There had been a couple of lulls but no major declines. What we are seeing now is what I refer to as reality. The appreciation of the past was pushed by easy loans, low interest rates and speculation. I have recently talked with people that I feel are more than average when it comes to the experience and knowledge they hold. Some of these people think the old addage "Jackson Hole never goes down" is still somewhat true. Others feel like we are just seeing the start of this. One thing is absolute and that is we are seeing a correction right now. Sales have slowed prices have dropped and still not many closings. I do have personal predictions and opinions that I will gladly share. I base my opinions on statistics and facts, though they could be wrong. The overall economy will be the greatest driver as to where our market goes.

Jackson Hole real estate has seen continuous increases year over year for basically 15 years now. There had been a couple of lulls but no major declines. What we are seeing now is what I refer to as reality. The appreciation of the past was pushed by easy loans, low interest rates and speculation. I have recently talked with people that I feel are more than average when it comes to the experience and knowledge they hold. Some of these people think the old addage "Jackson Hole never goes down" is still somewhat true. Others feel like we are just seeing the start of this. One thing is absolute and that is we are seeing a correction right now. Sales have slowed prices have dropped and still not many closings. I do have personal predictions and opinions that I will gladly share. I base my opinions on statistics and facts, though they could be wrong.