2580 Trader Road recently made the front cover of Wall Street Journal’s Mansion section on Friday, May 20, 2016. Written by Nancy Keates of the Wall Street Journal, In Search of Summer Real-Estate Love featured hand selected summer getaways and was aimed at buyers looking to find the perfect match in a vacation home. This story was syndicated to Mansion Global, Sotheby’s International Realty’s Art of Living, and it made countless appearances on the “twittersphere”.
Below, you will you will find the WSJ video and an excerpt of the story.
“This could be the summer you meet your soul mate—the real-estate version, anyway.
The commitment to buy a vacation home, with all the headaches and expenses that come with upkeep and maintenance, can be as daunting as entering into a serious relationship. It had better be right. Home buyers often make the same mistakes as daters: They act on impulse without thinking about the long term; they choose places that seem great on paper but aren’t really right for them; and they don’t take into account how much it will all cost.
So, how to find the right match for you? Here’s a simplified guide to finding your dream summer getaway—with long-term potential.
You are: A tech-savvy male with libertarian leanings. Loves hiking, fishing and mountain-climbing.
Your Match: Mountain hideaway in Jackson, Wyo.
Available matches: 145.
Median listing price for luxury market: $4.87 million
Change in price from 2015: -1.2%
Forget the stunning vistas, world-class fly fishing and unparalleled access to national parks. Jackson’s most attractive feature for many home buyers? Its tax profile.
“It’s a huge incentive,” says Audrey Williams, of Jackson Hole Sotheby’s International Realty.
Wyoming has no state income taxes, no inheritance or estate taxes, no state gift tax, relatively low property taxes, no excise taxes and no tax on the sale of real estate, says Chris Reimer, a tax attorney in Jackson Hole.
Prices in the resort area of Jackson Hole (which includes Jackson and surrounding areas) have remained robust, even as other Western resort communities have seen a slowdown.
In 2015, the average sale price for all homes in Jackson Hole rose 31.2% compared with the previous year. In the same period, prices fell 10.2% in Montana’s Big Sky, 2.2% in Colorado’s Vail Valley and 5% in Lake Tahoe, Calif., according to a report from Sotheby’s International Realty.
Drew Taylor, 64, a former energy-finance and information-technology officer who now does consulting work from home, says he loves that Jackson offers both an immersive nature experience and a vibrant high-tech community.
“You can sit in the middle of the woods and still be on the Internet,” he says.
He bought his 4,700-square-foot home on 5.2 acres in 1996 for $1.1 million. He then spent $1.7 million renovating and updating it, putting in fiber-optic lighting, electrostatic speakers controlled with a Crestron system, a media room with dupioni silk wallpaper to cancel any echoes or hollow sounds and a Siedle security system. He has it listed for $3.2 million.”