Wyoming

In a story in today's Jackson Hole Daily it was reported that the Puzzleface Ranch's sellers have reduced their asking price by 30%. The 225 acre ranch is located between Jackson and Wilson on Highway 22 and has been on the market since the fall of 2006. The original asking price was $25M but slowing market conditions have caused prices to adjust back down as less buyers enter the market. This is in-line with price reductions we've seen on residential properties as well as buyers and sellers grapple with what "market price" will start to settle at. For seller's who need or want to sell they are dropping their price by 20-30% off of last years highs. We expect to see this continue until we see a stabilization in the housing market through a real government stimulus. Having said that timing market bottoms is extremely tough and for buyers prices are really becoming attractive. In addition local banks have money to lend at good interest rates so it really is a buyers market at this point. We are counseling buyers to make offers on properties where prices have been reduced even if the offer is lower than the reduced price. Without an offer we can't begin a dialog or negotiate a price that is acceptable to both the buyer and seller.

One of the things that I love about showing property in Jackson Hole is the wildlife that my clients and I get to see.

Yesterday, I was showing properties in Bar-B-Bar a subdivision located just 10 minutes from the town of Jackson, near Grand Teton National Park.

My client was amazed to see a couple of Bison just hanging out in someone's pasture, sunning themselves and grazing on the grass.

If you have someone looking for a home 'where the buffalo roam' there is a fabulous home on 3.5 acres in Bar-B-Bar. Here's the website:

www.100Sandreed.com

Make it a great day!

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With stunning, protected views of the Tetons, the 14 lot subdivision of Pine Meadow is comprised of spacious, yet private homes that have access to a variety of excellent fishing streams and ponds.

Pine Meadow was originally part of a USA Patent to James Harmison in 1908. Through the years, the land was passed on to family members until the 1930's when parts of the land were sold to A.E. Ward, Helen and Henry Weston, and Alvin Ostler. Until the early 1950's, the land continued to be bought and sold several times before it was purchased by Albert Schwabacher Sr. and his wife May K. Schwabacher. Schwabacher was a California investor who was also an avid fly fisherman. He originally came to the Jackson Hole area in the 1920's to look for fishing areas and bought what is now Lost Creek Ranch. He subsequently purchased Pine Meadow, Teal Trace, the Buchenoth property, and the Edgecomb property in the 1950s and would frequently bring friends out to fish the superb fish creek channels. He also ran cattle on the property.

Albert's two sons, Albert E., Jr. and John L. Schwabacher also resided in California but spent a great deal of time in Jackson Hole. They were friends with local contemporaries Paul von Gontard and Felix Buchenroth. John helped run his father's ranch properties in the 1940's, and the family holdings extended into the Pinedale area.

In 1958, Albert Sr. transferred the property in south Wilson to his two sons, and in 1975, the two brothers divided the property between them. Albert sold his holdings to the Gros Ventre Cattle Company in a transaction that involved his old friends Gontard and Buchenroth. The Gros Ventre Cattle Company then went on to develop what is now Pine Meadows. Jack Schwabacher sold his part of the property to G. Bland Hoke, Jr. who developed it into what is now the Teal Trace area.