Rebecca Hanna

There are several small towns of Wyoming that are supporting these prices. Retirees seem to be seriously considering Wyoming due to the proximity to National parks, tax advantages (incl. low property and sales tax, no income or small business tax too) low crie rates and availability to health care. Wyoming schools have a very good reputation and receive huge funding from large energy companies. The nostalgia of the open West and roaming wildlife doesn't hurt either. Other types of buyers are those that are buying land NOW with low interest rates in hopes of retiring here much later down the road, and of course the Euro is bringing more inquiries too. Coming from the Scottsdale, Arizona market where Canadians were gathering up the desert - I see a difference here. The Europeans like the rockies - and when they can get it for 50% off due to the conversion rate - why not buy in a remote area? Here in Cody, prices have been rising steadily and construcion of homes is steady as well. There is no over-supply and rentals aren't very easy to come by either. To answer your question, I don't think the salaries support it currently, but as with any area's growth - all in due time! - Thu May 22 2008, 14:44

Hi Bonnie!
I was browsing the Wyoming inquiries and saw your question. As a sales associate for a developer, I'm limited to selling only my neighborhood and can't sell your niece's home, however I wanted to share my experience. In general, Cody is increasing in price and the tourism season will be a good time to sell. As for seeing home sale prices, you need a professional Realtor like Johnny mentioned in another answer. Another option would be to hire an appraiser and ask them to come up with your current market value. A good agent will come very close to that same amount too. A big advantage to an agent is they handle everything and can keep a good 'poker face' during the negotiations - resulting in more money to you. Homes that are sold with an agent sell for well-over the commission amount when compared to those that sold by owner. You can look up the actual stats on Realtor.com as done by NAR. Also, putting up a For Sale sign in our yard is like saying "I need help selling my house - please, every Realtor in the area call me!" Eventually you will hire an agent, but the word will be out that you tried to sell it on your own and couldn't - making people wonder what's wrong with it. In a little town like Cody, don't stigmatize the house like this. Hire a professional from the start, who has pride in the product that you are selling, and will work as a true advocate for your niece. As I stated early on, I can't price the home due to my contract, but can certainly send you to one with a great record of selling.

Hope this helps! Rebecca - Mon Mar 24 2008, 14:13

Hi Nathan! I have to agree with Mr. Smith on most things. He did mention Cody being located in Shoshone County, however, we are really in Park County. My parents retired to Wapiti (30 miles from the Yellowstone Park entrance) due to the desire to be close to the park, and nearby to Cody with it's good healthcare. Cody schools have also been newsworthy as most of their funding comes from oil company taxes - making for some impressive buildings. While an appraiser and agent in Scottsdale, AZ, I came to Cody to visit. The market here is so good that I immediately packed up and moved! I now sell this areas 1st ever masterplanned gated river-front community. Cody hasn't seen the growth Jackson has YET, but does have some serious potential as the home prices are climbing rapidly and tourism is very big. Please check out Copperleaf as an investment. We have about 100 home sites left to sell, 30 miles from Yellowstone, 1-3 acres each, with no time requirement to build. In addition, last week we just priced our builder-model Villa that includes a 24 month leaseback for 8% of the purchase price including upgrades and furnishings. Again, this area has some serious growth potential and the price trends are reflecting it! Wapiti Valley is along the "52 most scenic miles in America" as stated by Teddy Roosevelt.

Another area between Rock Springs and Evanston is starting to pick up. I only know of this area from talking to a broker who works that area. I'm not an area expert there, but could get you in touch with her as well.

I hope this helps - Wyoming is not suffering the same fate as other states, so don't be too timid to jump in!
Rebecca - Mon Mar 24 2008, 13:46