News from Christie's Great Estates

Joe Montana's Wine-Country Estate Offered at US $49 Million
Legendary San Francisco 49ers Quarterback Joe Montana, has listed his 503-acre property-which sprawls across both Napa and Sonoma counties in California-for US $49 million, notable given the name of the team he led to four Super Bowl titles. Montana and his wife Jennifer chose Pacific Union International to co-market the estate, which features 9,700-square-foot Tuscan-inspired main house, equestrian center, and olive farm. Read more at the News Center section of www.christiesgreatestates.com

Larry Hagman's Solar Powered Estate Offered at US $11 Million
Unlike the character he made famous on "Dallas", oil baron J.R. Ewing, actor Larry Hagman is a major proponent of alternative energy and equipped his estate with one of the largest residential solar power systems in the United States. Hagman and his wife Maj are downsizing so the 18,000 square foot estate, named Heaven, is being offered for sale for US $11 Million by Village Properties Realtors. When Hagman first installed his solar energy system in 2003, his annual electric bill plummeted from $37,000 to $13. His system generates some 150,000 kilowatts per hour. More details are posted on the News Center section of www.christiesgreatestates.com

Cecil B. DeMille's Former Ranch Offered at US $28 Million
Middle Ranch, one of California's premiere equestrian facilities, is now on the market for US $28 Million. Originally owned by film director Cecil B. DeMille-a creative force in Hollywood for 50 years-the 600-acre estate is currently divided into three ranches and is offered for sale by Dilbeck Realtors, with bespoke marketing services provided by Christie's Great Estates.

Opportunities at Snake River Lodge and Spa

Fantastic Opportunities at Snake River Lodge and Spa

Original List Price: $1,500,000

REDUCED LIST PRICE: $1,295,000

Exquisitely furnished , 1,760 sq. ft., 3 bedroom condominium offers the amenities of the 4 Diamond Snake River Lodge and Spa and ski-in convenience at the Jackson Hole Mountain Resort. Excellent short term rental with lock-off feature.

Original List Price: $3,250,000
REDUCED LIST PRICE: $2,595,000

This expuisitely furnished 3 bedroom, 3.5 bath, 2,843 sq.ft. luxury penthouse is located slopeside on the private 5th floor of the renowned Snake River Lodge and Spa offering Four Diamond amenities and a ski-in location.

Contact Graham4 for additional information at info@graham4jh.com or at 888.301.2402.

Price Reduction on In-Town Lot

Spectacular Treed .17 Acre In-Town Lot

List price recently reduced from $415,000 to $399,000.

This .17 acre homesite is conveniently located near town and national forest trails in east Jackson at Simpson and Rancher Street. Approved, ready to break ground. Includes Dynia plans for 4,500 sq.ft. home. View corridors to Snow King and the Tetons.

For additional information on this opportunity, contact graham4 at 888.3001.2402.

Huge Price Reduction in Jackson Hole Golf and Tennis

Retro Modern Ranch

NEW LIST PRICE: $1,395,000

Previous List Price: $1,700,000

Unbeatable Value: You wont find another home for a better price with 6 bedrooms including a separate 2 bedroom guest house, a fabulous 3,621 square foot floor plan beautifully remodeled with 2 spacious living areas, 2 eating areas, a loft, a 3 car garage, and a great 1.04 acre landscaped setting in Jackson Hole Golf and Tennis with stunning Teton Views.

For additional information on this opportunity please contact Graham4 at 888.301.2402 or info@graham4jh.com.

Melody Ranch Listing Back on Market

Lovely Melody Ranch Home

List Price: $995,000

This exceptional home in Melody Ranch, recently completed in 2007, has countless tasteful details and features including travertine tile, granite countertops, alder doors and hickory floors. The home is beautifully sited on landscaped lot adjacent to open space with marvelous mountain views that can be enjoyed from the home's many windows and 5 decks.

Contact Graham4 for additional information. 888.301.2402

Jackson Hole Real Estate Associates Opens Office in Teton Village

Jackson Hole Real Estate Associates opens a new office in the heart of Jackson Hole Mountain Resort. Next door to the new aireal tram, gives us direct access to winter visitors and skiers.

This past weekend was opening day for the 2009/2010 winter ski season at Jackson Hole Mountain Resort. Locals and visitors enjoyed a beautiful day of skiing on Apres Vous. We got just a taste of what is to come!

Contact Graham4 for additional information on the Jackson Hole and Teton Valley Markets. 888.301.2402.

Residential Mortgage Rates

Residential Mortgage Rates for November 18, 2009 from our Friends at Bank of Jackson Hole

30 YearFixed
Conforming (loans to $417,000)-4.625%
Jumbo (loans over $693,750) - 7.875%

15 YearFixed
Conforming (loans to $417,000) - 4.250%
Jumbo (loans over $693,750) - 6.875%

10/1 ARM
Conforming (loans to $417,000) - 4.250%
Jumbo (loans over $693,750) - 7.875%

7/1 ARM
Conforming (loans to $417,000) - 3.875%
Jumbo (loans over $693,750)- 4.625%

5/1 ARM
Conforming (loans to $417,000) - 3.250%
Jumbo (loans over $693,750)- 4.250%

3/1 ARM
Conforming (loans to $417,000)-3.500%
Jumbo (loans over $693,750) - 6.625%

30 Year Fixed Rate FHA Loans to $693,750:5.000%
Prime Rate: 3.250%
One Year Libor Rate: 1.055%

Contact Graham4 for additional information 888.301.2402 or info@graham4jh.com.

Graham4 Price Change

Ski-In, Ski-Out Condo

TETON VILLAGE, WYOMING

REDUCED LIST PRICE: $2,095,000

This beautiful luxury condominium is located on the 3rd floor at the Crystal Springs Lodge in the heart of Teton Village at the Jackson Hole Mountain Resort. This ski-in, ski-out property, situated right on the ski slopes, is a perfect vacation retreat or short term rental. With over 2,200 sq. ft. of living space, 3 bedrooms and 3.5 baths, heated underground parking area and 2 storage lockers, this condominium has plenty of room for family or entertaining and is sold beautifully furnished and equipped. The spacious living area has large west facing windows that overlook the Jackson Hole Mountain Resort; comfortable furnishings in rich tones that create a warm and cozy sitting area around a gas fireplace, hardwood floors, a flat screen TV and glass doors that access a sizable deck. The fully equipped kitchen has slate floors, a 6-burner Thermador gas stove, a Sub-zero refrigerator, granite countertops, and a utility closet that has an Asko washer/dryer. The dining area has a table for 8. There are 3 comfortable bedrooms each with a private bath, including an inviting master suite with a king sized bed, sitting area and fireplace, glass walled shower and jetted tub. The master suite also opens onto the deck. The slope side location of this condominium is not only perfect for skiers, but is just a short walk to restaurants, entertainment and shopping at the Village. In the summer, wonderful hiking and biking trails are just out the back door and the Grand Teton Music Festival Hall is next door. Short term rental history is available.

For additional information click on link below or contact Bob Graham at 888.301.2402.

http://www.graham4jh.com/jacksonproperties/condos/2_0636J/Profile1.html

Residential Mortgage Rates

Residential Mortgage Rates for November 13, 2009 from our Friends at Bank of Jackson Hole

30 YearFixed
Conforming (loans to $417,000)-4.750%
Jumbo (loans over $693,750) - 7.875%

15 YearFixed
Conforming (loans to $417,000) - 4.250%
Jumbo (loans over $693,750) - 6.875%

10/1 ARM
Conforming (loans to $417,000) - 4.250%
Jumbo (loans over $693,750) - 7.875%

7/1 ARM
Conforming (loans to $417,000) - 3.875%
Jumbo (loans over $693,750)- 4.625%

5/1 ARM
Conforming (loans to $417,000) - 3.375%
Jumbo (loans over $693,750)- 4.250%

3/1 ARM
Conforming (loans to $417,000)-3.750%
Jumbo (loans over $693,750) - 6.625%

30 Year Fixed Rate FHA Loans to $693,750:5.125%
Prime Rate: 3.250%
One Year Libor Rate: 1.091%

Contact Graham4 for additional information 888.301.2402 or info@graham4jh.com.

Urban Land Institute Real Estate Business Barometer

Matt Faupel, Partner with Graham4, is a member of the Urban Land Institute,

(look here for info describing the group http://www.uli.org/LearnAboutULI.aspx).

Graham4 is the only team in the region affiliated with ULI and that has the knowledge and experience with Urban Land Institute. This institute provides leadership in the responsible use of land by creating and sustaining thriving communities worldwide.

ULI provides summaries of the Real Estate Barometer. Read below for details..

ULI Real Estate Business Barometer

Diverging trends appear in September's economic and housing numbers. Jobs, retail sales, and consumer confidence are still suffering, but the stock market and GDP, even after adjusting the GDP for the "cash for clunkers" impact, are showing healthy signs. Housing starts and new-home sales remain dramatically below historic averages, but existing single-family home sales are above historic averages.

Generally dismal numbers describe the real estate capital markets and investment property markets: property sales volume decreased, CMBS issuance is nonexistent, and CMBS delinquency rates increased. In addition, vacancy rates increased, rents decreased, and office absorption is still negative.

See below for a summary of more than 60 key indicators of the economy, real estate capital markets, commercial/multifamily investment property, and housing.

ULI Real Estate Business Barometer
Summary as of October 30, 2009

The Economy

September presents a picture of diverging economic indicators, with jobs, retail sales, and consumer confidence still suffering but the stock market and the GDP reflecting some healthy activity. The 263,000 jobs lost in September is up from the 201,000 jobs lost in August. While the declines witnessed in these two months are still the smallest monthly declines since September 2008, the fact that losses rose over the previous month indicates continuing instability in the job market. Since September 2008, 5.8 million jobs have been lost and the unemployment rate rose to 9.8 percent in September 2009.

The Consumer Confidence Index fell to 47.7, well below the 53.1 number recorded in August. Retail sales were down 1.5 percent, following the end of the "cash for clunkers" program that had fueled retail sales growth in August; in August, motor vehicle sales increased almost 8 percent, but in September, motor vehicle sales decreased by more than 10 percent. Still, almost all other retail categories experienced some very slight growth in sales, although all of them less than 1 percent. Inflation, as measured by the Consumer Price Index, rose 0.2 percent after increasing 0.4 percent in August, with the September rise mainly attributable to energy costs and the increase in costs of used vehicles (yet another impact of the "cash for clunkers" program). Despite the rise in energy costs, the gasoline price and fuel oil indices remain about 30 percent lower than one year ago.

The best news of late, of course, was that the third-quarter GDP increased by an annualized rate of 3.5 percent from the second quarter, a strong growth rate that has not been seen since 2007. Still about one-third of this growth is due to motor vehicle sales, again related to the "cash for clunkers" program during this quarter; absent this program, GDP may have been in the mid-2 percent range—still higher than we have seen since the end of 2007. The S&P 500 stock index continued to show healthy gains, with a 3.7 percent rise in September.

Real Estate Capital Markets

Real estate capital markets remain in poor condition, with limited bright spots.

The REIT sector continued to show strong returns in September, the third straight month of solid returns; still, total returns for the past year are –28.4 percent. After dismal first and second quarters, the NCREIF Property Index turned in only a slightly better third quarter, with total returns of –3.3 percent, primarily attributable to continued depreciation; total returns for the past year are –22.1 percent.

CMBS issuance in September was nonexistent, as it was from July 2008 to this past May and then again in August, according to Commercial Mortgage Alert. (Issuance activity this past June and July was minuscule compared with that of recent years.) CMBS delinquency rates, according to Trepp LLC, were 4.36 percent, up from 4.03 percent in August.

Commercial mortgage rate spreads over ten-year Treasuries, tracked by Cushman Wakefield Sonnenblick Goldman, remain relatively high as of the beginning of October, with spreads remaining the same for all sectors except multifamily and multitenant industrial, which showed decreases.

Property sales volumes fell in September, according to Real Capital Analytics; the sales volume stood at $4 billion, down from $4.3 billion in August and well below the $10.6 billion seen in September 2008. Capitalization rates fell slightly in September, from 7.81 percent to 7.74 percent, but are up from 6.84 percent in September 2008. Cap rates are now very close to the historic norm of 7.59 percent (since 2001).

For additional commentary on real estate capital markets, see ULI senior fellow Steve Blank's Capital Markets Update.

Housing

Total housing starts inched up a bit, standing at 590,000 in September. Very slight shifts up and down have characterized housing starts since July, after substantial increases in May and June. In April, total housing starts had reached the lowest point since 1970. Single-family starts, at 501,000, drove activity in September, climbing from 482,000 in August. Multifamily starts declined to 78,000 in September from 102,000 in August. Multifamily starts in September were 69 percent lower than a year earlier, while single-family starts were 8.7 percent lower.

Prices for new homes increased slightly in September and are 9 percent lower than a year earlier. Prices for existing single-family homes decreased very slightly from August, according to data from the National Association of Realtors (NAR), and are 8 percent lower than in September 2008. The S&P/Case-Shiller Index for existing homes increased very slightly in August, only the fourth increase in 38 months, but, notably, these four increases have been consecutive starting in May. (This index is reported monthly as a three-month moving average, with a two-month lag.) Prices of existing condominiums decreased slightly, according to NAR, and are almost 12 percent lower than last September. Housing affordability remains near historic highs.

Total existing single-family home sales increased in September for the sixth straight month, a welcome positive sign, and the total inventory of homes for sale decreased, bringing the supply down to 7.6 months, within range of the historic average (since 1982) of 7.2 months' supply. The number of new single-family homes sold decreased in September, a change from the growth pattern of the previous five months, but the inventory of new homes for sale declined so the supply remained at 7.5 months, above the historic average of 6.3 months' supply (since 1970).

Home mortgage rates (30-year fixed) remained fairly stable in August at 5.06 percent, and remain very favorable by historic standards. Foreclosure filings—default notices, scheduled auctions, and bank repossessions—declined in September, for the second straight month, after reaching a four-year peak in July. Foreclosure filings are 29 percent higher than in September 2008.

These housing trends in total suggest continued movement in the right direction, but a healthy and balanced housing market is still not in view.

Commercial/Multifamily Investment Property

Office vacancy rates stood at 19.4 percent in the third quarter of 2009, up from 18.6 percent in the second quarter and 340 basis points above the same quarter a year ago, according to Property & Portfolio Research (the source of all data presented in this section). Completions in the third quarter of 2009 were stable as a percentage of inventory, remaining at 0.3 percent, but below the 0.7 percent historic average. The absorption of -34.5 million square feet was just slightly better than the -39.4 million square feet absorbed in the second quarter of 2009. Rents fell in the third quarter of 2009 and are off 8.7 percent from the same quarter a year ago.

Retail vacancy rates stood at 18.6 percent in the third quarter of 2009, up from 17.5 percent in the second quarter and 570 basis points above the same quarter a year ago. Completions in the third quarter of 2009 stood at 0.3 percent of inventory, up from 0.2 percent in the previous quarter but below the 0.6 percent historic average. Rents fell again in the third quarter of 2009 and are off 8.2 percent from the same quarter a year ago.

Warehouse vacancy rates stood at 13 percent in third-quarter 2009, up from 12.2 percent in the second quarter and 320 basis points above the same quarter a year ago. Completions declined as a percentage of inventory, from 0.3 percent in second- quarter 2009 to 0.2 percent in third-quarter 2009, both below the 0.6 percent historic average. Rents fell again in third-quarter 2009 and are off 8.9 percent from the same quarter a year ago.

Apartment vacancy rates stood at 8.4 percent in third-quarter 2009, up from 8.2 percent in the second quarter and 190 basis points above the same quarter a year ago. Completions as a percentage of inventory remained the same as second-quarter 2009 at 0.2 percent, below the 0.4 percent historic average. Rents fell slightly in third-quarter 2009 and are off 5.8 percent from the same quarter a year ago.

Hotel occupancy rates (a moving 12-month average) stood at 58.7 percent in third-quarter 2009, down from 60 percent in the first quarter of 2009 and 680 basis points below the same quarter a year ago. Completions were up slightly as a percentage of rooms, from 2.6 percent in third-quarter 2008 to 3.2 percent. Revenue per available room (RevPAR) fell in the third quarter of 2009 compared to the same quarter a year ago, off by 23.1 percent.

For additional information, contact Matt Faupel, Graham4, 307.690.0204.

Graham4 Teton Palisades Listing

Teton Palisades
Commercial Opportunity

List Price: $10,700,000

Palisades Condominiums consists of 34 units in existing building and 2 lots with entitlements and over 100,000 sqft of mixed use structure and underground parking.

Teton Springs Resort amenities are adjacent to property; pool, tennis, golf, fly-fishing, fitness, restaurant, spa, deli.

Contact Matt Faupel with Graham4 for additional information. 307.690.0204

Graham4 Open House

OPEN HOUSE

Teton-View Lodge on the Snake River
WEDNESDAY, NOVEMBER 11, 2009
10:00am to 1:00pm

List Price: $13,500,000

The setting of this mountain home is breathtaking, on 13 acres with Snake River frontage and unsurpassed views of the Grand Teton. This custom designed log home features 7,463 sq. ft. on two levels, 6 bedrooms, 6.5 baths, and a wonderful outdoor pool and entertainment area. The main level features: beautiful living and dining areas, windows and doors that open onto a mountain side terrace; cozy den; spacious kitchen, breakfast nook; master and junior master suites; wine cellar and laundry. Upstairs are a library, media room, 3 bedrooms and a bunk room. Offered with custom furnishings.

For additional information contact Graham4 at 888.301.2402 or click on the link below.
http://www.graham4jh.com/jacksonproperties/homes/09-2709/Profile1.html

Graham 4 Jackson Hole Real Estate Associates

News from our Friends at First Interstate Bank:

"MBS prices are up +8/32, above 9:45 et pricing of +5/32. It has been an extremely volatile session, and investors may have priced at a wide range of levels. President Obama signed the extension of the homebuyer tax credit into law.

Just as a side note, the MBS (Mortgage Backed Security) bond prices are up nicely today on the higher unemployment number. Home Loan Rates may drop below 5.00% again."

For more information contact Graham4 at 888.301.2402.

Graham4

Residential Mortgage Rates for November 5, 2009
from our Friends at Bank of Jackson Hole

30 YearFixed
Conforming (loans to $417,000)-4.875%
Jumbo (loans over $693,750) - 7.875%

15 YearFixed
Conforming (loans to $417,000) - 4.375%
Jumbo (loans over $693,750) - 6.875%

10/1 ARM
Conforming (loans to $417,000) - 4.375%
Jumbo (loans over $693,750) - 7.875%

7/1 ARM
Conforming (loans to $417,000) - 3.875%
Jumbo (loans over $693,750)- 4.625%

5/1 ARM
Conforming (loans to $417,000) - 3.500%
Jumbo (loans over $693,750)- 4.250%

3/1 ARM
Conforming (loans to $417,000)-3.875%
Jumbo (loans over $693,750) - 6.625%

30 Year Fixed Rate FHA Loans to $693,750:5.250%
Prime Rate: 3.250%
One Year Libor Rate: 1.170%

Graham4 Price Reductions

3.11 Acres in Schofield Patent (Land)

Original List Price: $1,750,000
Reduced List Price: $1,495,000

This beautiful property offers 3.11 acres in Schofield Patent, a private and sought after subdivision, close to schools, bike path and ski area. This building site has breathtaking views of the Tetons and surrounding mountains.

ALSO AVAILABLE

Stunning Home on 6.23 Private Acres

Original List Price: $6,495,000
Reduces List Price: $6240,000

This 6,767 sq. ft., 5 BR Dynia designed contemporary masterpiece is a celebration of light and space. Glass walls, impeccable details and exquisitely comfortable open floor plan and spectacular 360 degree mountain views at every turn. Situated on a 3.12 acre westbank horse property. List price includes a 3.11 acre adjacent lot with breathtaking views of the Tetons and surrounding mountains.

Contact Graham4 for additional information on these stunning properties. 888.301.2402.

Glimmers of Interest inLuxury Homebuying Start to Reappear

As Seen in....

INVESTOR'S BUSINESS DAILY

GLIMMERS OF INTEREST IN LUXURY HOMEBUYING START TO REAPPEAR

By Kathleen Doler
Published October 16, 2009

Luxury homebuyers who've sat on the sidelines for much of the real estate meltdown are starting to open their wallets, real estate agents say. Everyone loves a sale, including the moneyed. They're drawn to house-hunt, now that the moribund pace of high-end home sales has yielded dramatic price declines.

It's happening waterfront in the Hamptons, and in select spots around the U.S. "We've seen a significant upturn in activity in the last four to six weeks," said Barbara Feldman, vice president with Saunders & Associates in the Long Island community of Bridgehampton, N.Y.

Buyers are now "making investments in beach homes," said Charleston, S.C., agent Pat Broghamer, at ReMax Advanced Realty.

In Santa Barbara, Calif., "we've started to see a fair amount more pending and closed sales here in just the last two to three months," said agent Kevin Schmidtchen, at Sotheby's International Realty. He says home prices in the $2 million to $3 million range "are off 20% to 30% from their peak" and those $5 million and up are off 25%-35%.

The pickup in high-end sales that agents are seeing is new, and still anecdotal. Data don't yet confirm a nationwide trend.Homes priced above $750,000 comprise just 2.3% of sales nationwide this year through June, according to estimates by the National Association of Realtors. That's down from 3.7% in 2008 and 4.4% in 2007.

High End Fell Hard

The group says the sales pace for homes in the $2 million and above price band fell a whopping 39.1% across the country in August, year over year. In the $750,000 to $1 million range it fell 22.5%. These big drops contrast with a less-than-10% decline for homes priced $250,000- $500,000, and with the low end of the market where sales rose.

Both investors and those seeking a place to live or vacation are shopping for discounted high-end digs. They're on a hunt for value, real estate agents say. "Buyers are now looking at the great deals, rather than even the (particular) house," said Rita Burke, of Kenna Real Estate, in Denver.

Speculators and buy-and-hold investors are both back in the game, real estate agents say. Some are confident enough in a future return to even let a newly purchased home sit empty rather than bother to rent it out in a tough market. Their plan is "buy it, sit on it, wait for it to go up and then sell it," Broghamer said.

But in their quest for value, Feldman says, buyers seeking a luxury residence have downsized from 10,000-square-foot homes to 5,000-7,000 square feet. "They're willing to make do, just suffering," Feldman said, laughing. They're not after the "huge McMansions that they were looking for before, because it's in bad taste with the economy being what it is."

High-end shoppers demand especially rich detail about a property before they buy, Broghamer says. Does it have a deep-water dock? How deep? What are the site boundaries? What was last year's hurricane insurance premium? What remodeling restrictions might be encountered? Broghamer says no matter how deluxe properties might appear, many high-end buyers will want to customize and "make them their own."

Many luxury buyers also heavily use technology in their home search."You need to be everywhere online these days and pay for premium exposure on several top real estate Web sites," Schmidtchen said. He also blogs and puts high-end homes in top print publications. He says online listings need 18 or more great photos, including aerial shots. Burke uses tons of market data on her blog to attract sophisticated Denver-area buyers.

"If you don't have a presence on the Internet, and a good one, you're toast," Feldman said. And all the real estate agents in this story use social networking - Facebook, Twitter and other sites - to reach potential clients. To increase referral business, Feldman says, Saunders & Associates forms alliances with other real estate agencies selling luxury homes in NYC, Aspen and LA.

Art To Making Offer

Despite price decreases, and everything else sellers and agents do to market luxury homes now, buyers shouldn't think lowball offers will win the day. High-end sellers can often afford to wait for an acceptable offer, Schmidtchen says. He adds that unique properties, particularly in tony Montecito in the Santa Barbara area, are still seeing full-price offers.

"We're not seeing big discounts off sales prices now," Feldman said. "If buyers make lowball offers, sellers aren't even countering." Also, Wall Streeters are expecting year-end bonuses due to a recovery in the stock market. So Feldman says real estate agents in her area are expecting an influx of buyers after the end of the year.

Some investors have been using self-directed IRAs to invest in waterfront real estate, Broghamer says. Others are forming buying pools to purchase high-end homes.Broghamer says some properties will just sit empty until the market turns and the investors can flip them for a tidy profit.

Others will enter the rental pool. Landlords of luxury can still make a tidy sum in desirable vacation spots."Some of the rents are huge," Feldman said of the Hamptons. "One house went for $900,000 for the season this year, and there were a significant number of rentals priced at $400,000 to $500,000 for the season."

Graham4 at the Christie's Annual Conference in Boston

Recap of 2009 Christie’s Annual Conference in Boston

The conference, entitled “Meeting the Challenges of Today’s Market,” in Boston, Massachusetts, from October 14–16, was attended by representatives from 21 countries. Of the 60 affiliates represented, 40% were from outside the United States.

The keynote address was delivered by Ileana van der Linde, Principal, Wealth Management Practice, Capgemini and co-author of the World Wealth Report. The World Wealth Report, which is sponsored by Capgemini and Merrill Lynch, is the definitive study of the affluent around the globe. This presentation examined the recent international demographic shifts, which reveals where the affluent are investing their money now.

The meeting agenda included a presentation by David Adamo, President of Luxury Mortgage Corp., on the State of the Jumbo Market, in addition to expert panel discussions on luxury marketing trends, the new approach to business, and risk management in the age of social networking. The past year’s new initiatives were also reviewed.

For details on the World Wealth Report and more about the conference, contact Graham4 888.301.2402 or at info@graham4jh.com

*Source Christie’s Great Estates website.

Graham4 Price Change

Spectacular Treed 0.17 Acre In-Town Lot

List Price: $439,000
REDUCED LIST PRICE: $415,000

This .17 acre homesite is conveniently located near town and national forest trails in east Jackson at Simpson and Rancher. Approved, ready to break ground. Includes Dynia plans for a 4,500 sq. ft. home. View corridors to Snow King and the Tetons.

For additional information click on the link below and/or call Graham4 at 888.301.2402.

Graham4 Price Reduction

Premier West Jackson Home

Original List Price: $1,640,000
REDUCED LIST PRICE: $1,450,000

This 4,284 sq. ft. home is a perfect Jackson Hole residence or family retreat with an unbeatable in-town location; a beautiful hillside setting; access to Snow King’s mountain bike trails; incredible mountain and valley views; a comfortably contemporary design; spacious and inviting living spaces; large windows and elevated decks with great views; plenty of room for family, guests & entertaining.

For additional information contact Graham4 at 888.201.2402 and click on the below link.
http://www.graham4jh.com/jacksonproperties/homes/1_7111J/Profile1.html

Graham4

Residential Mortgage Rates for October 15, 2009 from our Friends at Bank of Jackson Hole

30 YearFixed
Conforming (loans to $417,000)-4.875%
Jumbo (loans over $625,500) - 7.875%

15 YearFixed
Conforming (loans to $417,000) - 4.375%
Jumbo (loans over $625,500) - 6.875%

10/1 ARM
Conforming (loans to $417,000) - 4.250%
Jumbo (loans over $625,500) - 7.875%

7/1 ARM
Conforming (loans to $417,000) - 4.000%
Jumbo (loans over $625,500)- 4.750%

5/1 ARM
Conforming (loans to $417,000) - 3.625%
Jumbo (loans over $625,500)- 4.375%

3/1 ARM
Conforming (loans to $417,000)-4.000%
Jumbo (loans over $625,500) - 6.625%

30 Year Fixed Rate FHA Loans to $693,750:5.250%
Prime Rate: 3.250%
One Year Libor Rate: 1.238%

Graham4 Price Reduction

Creekside Lodge in Lake Creek Ranch
Jackson Hole, Wyoming

Original List Price: $9,500,000
NEW LIST PRICE: $8,500,000

This spectacular property is the perfect Jackson Hole Retreat with a warm and inviting 4,876 sq. ft., 5 bedroom traditional log home; a beautiful 4.5 acre landscaped lot on the meandering Lake Creek; shared ownership of the 365+ acre Lake Creek Ranch with a ranch manger, barns, corrals and pastures for horses and Snake River frontage; riding trails into Grand Teton National Park, breathtaking views of the Grand, the entire Teton Mountain Range and the Jackson Hole Mountain Resort; 4 minutes from front door to the ski slope.

Contact Graham4 for additional information 888.301.2402/click on the link below.

http://www.graham4jh.com/jacksonproperties/homes/09_1646/Profile1.html

Graham4: Value in Melody Ranch

Wonderful Home in Melody

List Price Reduced to $975,000

This exceptional home in Melody Ranch, just completed in 2007, has countless tasteful details and features including travertine tile, granite countertops, alder doors and hickory floors. The home is beautifully sited on a landscaped lot adjacent to open space with marvelous mountain views that can be enjoyed from the home’s many windows and 5 decks.

Please click on link below for additional information or contact Graham4 888.301.2402.

http://www.graham4jh.com/jacksonproperties/homes/1_7039J/Profile1.html

Economic Comments and Rates

Economic Comments and Rates from our Friends at First Interstate Bank

"I'M ON MY WAY…JUST SET ME FREE…HOME SWEET HOME." - Motley Crue

Motley Crue's lyrics were being sung by the housing industry this past week when the number of Housing Starts in August came in better than expected (highest level since last November). Warren Buffet (kinda like E.F. Hutton, when he speaks…people listen) made positive comments last week, he thinks that the US economy has bottomed out. He went on to say that we are through the worst of the residential housing decline. This echoes comments from Fed Chair Ben Bernanke, who said that the recession is likely over.

The Producer Price Index came in more than double expectations (prompting fears of wholesale inflation). However, Consumer Prices (at least Core CPI) came in at a modest 1.4% annual rate, lowest annual rate since February 2004. CPI is an important measure of inflation, it actually measures the average prices paid by consumers for goods and services (this is where the real inflation concerns come in). These two reports balanced each other out and suggest that economic growth appears to be on track for gradual improvement, while inflation in not a short-term concern. Home Loan Rates ended the week nearly unchanged.

This week is full of economic news. The Federal Open Market Committee (FOMC) will start their meetings today to discuss policy (i.e. timing of future rate hikes, status of the MBS purchase program….). We expect no change to the Fed Funds Rate at this time. Existing Home Sales and New Home Sales for August will be released on Thursday and Friday respectively. Durable Goods Orders, even though it is a "less-than-perfect" indicator because of volatility and large revisions in past reports, investors still look to this report as being a leading indicator of manufacturing activity (out on Friday). Consumer Sentiment Index for September (also on Friday) is expected to be a "strong" reading of 70.0. We'll also see another round (record $112 billion) of 2-year, 5-year, and 7-year Treasury Note auctions. Recent auctions have been well received and have supported our "low" Home Loan Rates. Will the investor's appetite to purchase continue?

Whitehouse spokesman Robert Gibbs said that the administration is evaluating the First Time Home Buyers $8,000 tax credit and the effect it has had on home sales and will soon make a recommendation to the President. Although there is talk and speculation regarding the expansion of this program, as of now, potential buyers must complete their sale before December 1st. There truly is an opportunity at hand to purchase or refinance a home with historically low financing rates right now, and it won't last forever. Don’t be one who looks back and wishes they had acted now.

CHEAPER GAS - American consumers spent $31.2 billion at gas stations in August 2009, down $11.4 billion from the $42.6 billion spent at gas stations in August 2008 (source: Commerce Department).

Mortgage Interest Rates as of September 22, 2009
From our friends at First Interstate Bank

30 Year Fixed
Conforming (Maximum Loan Amount $417,000)-5.000%
Super Conf (Maximum Loan Amount $693,750) -5.250%
Jumbo (Maximum Loan Amount $2,000,000) -6.375%

15 Year Fixed
Conforming (Maximum Loan Amount $417,000) -4.375%
Super Conf (Maximum Loan Amount $693,750) -4.750%
Jumbo (Maximum Loan Amount $2,000,000) -5.750%

5 Year ARM
Conforming (Maximum Loan Amount $417,000) - 3.750%
Super Conf (Maximum Loan Amount $693,750) -4.875%
Jumbo (Maximum Loan Amount $2,000,000) -4.750%

Note: With the current volatility in the mortgage markets, please call for quotes on the various ARM programs.

GRAHAM4 OPEN HOUSE

OPEN HOUSE SCHEDULED
WEDNESDAY, SEPTEMBER 16th
10:00am to 1:00pm

Welcome Home

List Price: $1,995,000

This inviting South Park Ranch home is a fantastic horse property on 2.41 acres with a large landscaped yard, 2 pastures, and Teton views. Featuring 5,095 sq. ft., 5 bedrooms including a 1,176 sq. ft. suite with full bath, 2 living areas, game room, 3 car garage, 6 stall barn, no CC and Rs.

Check out the below link for additional photos.

http://www.graham4jh.com/jacksonproperties/homes/09-2803/Profile1.html

Contact Graham4 for additional information at 888.301.2402 or at info@graham4jh.com.

Graham4: "Why It's TIme to Invest in Real Estate

Why It's Time To Invest in Real Estate

"It's scary to jump into the housing market when prices have been plunging. But waiting could end up costing you. Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate -- with all properties offering water views. During the ride to my hotel, the young driver volunteered that he'd just bought his first house, paying $65,000 for a foreclosed property in nearby Cape Coral that had last sold for more than $250,000. He said he'd never expected to be able to buy anything on a driver's salary, let alone something that nice. "

For more information on this article, click on link below.
http://articles.moneycentral.msn.com/Investing/RealEstate/its-time-to-invest-in-real-estate.aspx

Contact Graham4 at 888.301.2402 or info@graham4jh.com.

Graham4

Residential Mortgage Rates for September 8, 2009 from our Friends at Bank of Jackson Hole

30 YearFixed
Conforming (loans to $417,000)-4.875%
Jumbo (loans over $625,500) - 7.875%

15 YearFixed
Conforming (loans to $417,000) - 4.375%
Jumbo (loans over $625,500) - 6.875%

10/1 ARM
Conforming (loans to $417,000) - 4.625%
Jumbo (loans over $625,500) - 7.875%

7/1 ARM
Conforming (loans to $417,000) - 4.000%
Jumbo (loans over $625,500)- 4.750%

5/1 ARM
Conforming (loans to $417,000) - 3.750%
Jumbo (loans over $625,500)- 4.375%

3/1 ARM
Conforming (loans to $417,000)-4.750%
Jumbo (loans over $625,500) - 6.625%

30 Year Fixed Rate FHA Loans to $693,750:5.250%
Prime Rate: 3.250%
One Year Libor Rate: 1.279%

Graham4: New Listing

VERY CUTE IN-TOWN PROPERTY

List Price: $425,000

This charming 812 sq. ft., 2 BR “free standing” townhome has a wonderful in-town location just a half a block from Snow King ski lifts and mountain trails; remodeled in 2006 with new bamboo floors, new track lighting, new terrace; new heated copper gutters; new paint; 2 parking spaces.

More information coming soon to Graham4jh.com. Contact Graham4 for additional information. 307-690-0812.

Graham4: New Listing

BEAUTIFUL GRANITE RIDGE LODGE

NEW LISTING

This Granite Ridge Lodge is the perfect luxury get-away at the Jackson Hole Mountain Resort with an unbeatable ski-in ski-out location. Featuring 4,624 sq. ft. of comfortable living space, 5 BR, beautiful custom furnishings; and excellent short term rental potential.

LIST PRICE: $3,600,000

For more information click on link below or email Graham4 at graham4team@jhreassociates.com.

http://www.graham4jh.com/jacksonproperties/homes/09-2891/Profile1.html

Deals Scored in Teton Valley Recently

Deals scored in Teton Valley recently:

Things are sitting on the market with little activity, until pristine properties like this hit the market at a very attractive price.

Charming 3 bedroom + loft, 3 bath home on .42 acres in Victor’s adorable Crystal Run subdivision sold for $318,000! This home sold in September of 2007 for $415,500.

Teton Springs is a golf resort in Victor, ID with a spectacular Byron Nelson design golf course and resort amenities, like an outdoor pool and a state of the art fitness facility. The economy and other factors have some investors having to reduce their prices tremendously, resulting in buyers investing at unbelievable prices.

3200 square foot townhome right on the golf course in Teton Springs sold for $325,000. This is a 3 bedroom, 4 bath home on .15 acres, with hardwood floors, granite countertops, and stainless steel appliances and front and back decks with beautiful mountain views. There are a few left and more to come on the market very soon.

5200 square foot custom home on a half acre in Teton Springs sold for $650,000. This 5 bedroom, 5 bath home is in pristine condition with beautiful landscaping, high end finishes, and a generous two bay garage.

Contact Jenn Honney with Graham4 for additional information at 307.413.1635 or jennhonney@jhreassociates.com

Graham4: New Listings

Great Value in Love Ridge

Unit 2730 at Love Ridge is priced to sell: a top floor unit in the first building; Teton views; fully furnished, 1,900 sq. ft., 3 bedrooms, 2 fireplaces, decks, covered parking, and lock-off feature. Perfect vacation retreat or short term rental. List Price: $1,025,000

Unit 3130 at Love Ridge is priced to sell: a top floor unit; Snow King views; fully furnished, 1,900 sq. ft., 3 bedrooms, 2 fireplaces, decks, covered parking, and lock-off feature. Perfect vacation retreat or short term rental. List Price: $975,000

More information coming soon to Graham4jh.com or contact Graham4 888.301.2402/info@graham4jh.com.

The Best Cities to Raise an Outdoor Kid: The Winning 25

Jackson, Wyoming has been named as one of the "Best Cities to Raise and Outdoor Kid" by Backpacker Magazine. For additional information, click on the link below or contact Graham4 at 888 301 2402 or info@graham4jh.com.

http://www.backpacker.com/august_09_the_best_cities_to_raise_an_outdoor_kid/articles/13125#jackson

Graham4 Open House

Cascading Waters Lodge at Teton Pines

OPEN HOUSE
Wednesday, July 29th
10:00am to 1:00pm

Beautifully situated on a 1.89 acre landscaped lot at Teton Pines Golf Resort, this newly completed 5,998 sq. ft. luxury home has been thoughtfully designed with the comfort and warmth of a western lodge located in the heart of one of Jackson Hole’s finest year-round resorts. This home is conveniently located near the 18-hole Arnold Palmer championship golf course and tennis center, Teton Pines clubhouse and restaurant, swimming pool, bike path, 4 neighboring restaurants, and is just four miles from the Jackson Hole Mountain Resort ski area.

For additional information click on the below link or contact Graham4 at 1 888 301 2402.
http://www.graham4jh.com/jacksonproperties/homes/09_477/Profile1.html

"Dose of Reality"

Click on images to view larger.

Graham4: Open House Today

Indian Trails Treasure

Open House Today

10:00am to 1:00pm
870 Whitehouse Drive

Original List Price: $815,000

NEW LIST PRICE: $785,000

This lovely 3 BR home in Indian Trails is perfect for family and entertaining; it’s in wonderful condition with great curb appeal; large, landscaped front and back yards; large decks and covered porches; spacious and comfortable living room; den; new furnace; an unbeatable location in a preferred residential neighborhood; near town and walking distance to schools and playgrounds.

Click on the below link or call Graham4 (888.301.2402) for additional information:http://www.graham4jh.com/jacksonproperties/homes/09_1574/Profile1.html

Graham4: Price Reduction

GREAT VALUE IN INDIAN TRAILS

Indian Trails Treasure

Original List Price: $815,000
NEW LIST PRICE: $785,000

This lovely 3 BR home in Indian Trails is perfect for family and entertaining; it’s in wonderful condition with great curb appeal; large, landscaped front and back yards; large decks and covered porches; spacious and comfortable living room; den; new furnace; an unbeatable location in a preferred residential neighborhood; near town and walking distance to schools and playgrounds.


Click on the below link or call Graham4 (888.301.2402) for additional information:

http://www.graham4jh.com/jacksonproperties/homes/09_1574/Profile1.html

Graham4 Sponsors Lorax at the National Museum of Wildlife Art

National Museum of Wildlife Art hosted its public reception yesterday evenin for their major summer exhibits including the Lorax, original works of Dr. Seuss. Sponsored by Graham4.

"The Lorax: Original Illustrations by Dr. Seuss05/09/2009 - 09/07/2009This exhibition will present a combination of original sketches plus camera-ready drawings created by Theodor Seuss Geisel, aka Dr. Seuss, for the publication of his acclaimed book, The Lorax. In Dr. Seuss’ own inimitable style, The Lorax includes a variety of fantastical wildlife species such as Brown Bar-ba-loots, Humming-Fish, and Swomee-Swans. Seuss was not one to shy away from contemporary topics or social commentary. The Lorax is among his most pointed, taking to task a company whose greed causes grave environmental harm. This exhibit combines original art as it probes humanity’s relationship with nature, making a perfect match for the National Museum of Wildlife Art. This exhibition is on loan from the Lyndon Baines Johnson Library & Museum.Look at what one Teton Science Schools Journeys School teacher had to say:“When debriefing the experience with the kids this morning, they continually remarked about how special they thought it was that they got to see Dr. Seuss’ original drawings (both in color and ink). They loved seeing the process of how a book is made and loved investigating the changes that were made throughout the writing & publishing process. From an educational and artistic standpoint, it is such a valuable exhibit with so many lessons to teach. The exhibit opened the door for a conversation about the revision process we use in school in our writing and how even the most famous authors go through multiple drafts. It is so important for kids to see that nobody creates something that is “perfect” the first time around—we all have to work through our mistakes and multiple drafts to get it right! I hope that the museum will bring more exhibits that highlight the creative process and the finished product the way that this does. It’s my new favorite National Museum of Wildlife Art exhibit!”"

Generously sponsored by Gold: Larry Wolf; Silver: Friends of Dr. Seuss; Betsy & Pete Forster; Lynn & Foster Friess; Graham4: Terra, Faupel, Faupel; Hotel Terra Jackson Hole; Carol & Mike Marshall; Carolyn & Chuck Miller; Dudley Stevens; Charlotte & Hank Stifel; and Teton Capital Advisers.

Source: From the National Museum of Wildlife Art Website.

Graham4 Open Houses This Evening!

Evening Open Houses at the Following Locations
Wednesday, July 8th from 5:00pm to 7:00pm















Exquisite Mountain Living In-Town
955 Snow King Drive

List Price: $1,690,000

This marvelous 3,608 sq. ft., 5 BR mountainside home has been impeccably remodeled and expanded with tasteful high-end finishes that create exquisitely comfortable living spaces on three levels. Beautifully nestled into a forested hillside in Snow King Estates, this exceptional home has great Teton & Elk Refuge views from large windows & decks; national forest trails are right out the back door.

For additional information click on the link below or contact Graham4 at 888 301 2402:
http://www.graham4jh.com/jacksonproperties/homes/09_149/Profile1.html















Indian Trails Treasure
870 Whitehouse Drive

List Price: $815,000

This lovely 3 BR home in Indian Trails is perfect for family and entertaining; it’s in wonderful condition with great curb appeal; large, landscaped front and back yards; large decks and covered porches; spacious and comfortable living room; den; new furnace; an unbeatable location in a preferred residential neighborhood; near town and walking distance to schools and playgrounds.

For additional information please click on the link below or contact Graham4 888 301 2402:
http://www.graham4jh.com/jacksonproperties/homes/09_1574/Profile1.html














Lovely Home in Cottonwood
3024 Alpine View Lane

List Price: $630,000

This lovely 1,964 sq. ft., 4 BR, 2 Bth home is a good value for the square footage in Jackson’s residential neighborhood, Cottonwood Park. The home has a fenced-in back yard, deck, trees; a living room w/ vaulted ceilings and wood burning stove, an open kitchen w/ hardwood floors and sizable dining area; a large master; guest room (used as a family room), jetted tub; 2 BR, sauna and a bath upstairs and 2 car heated garage.

For additional information please click on link below or contact Graham4 888 301 2402:
http://www.graham4jh.com/jacksonproperties/homes/09_974/Profile1.html

Graham4: Open House

Retro Modern Ranch

Open House on July 8, 2009 10:00am to 1:00pm

955 East Willow

List Price: $2,000,000

Completely remodeled in 2008 in a premium-quality retro-contemporary style, this 3,621 sq. ft., 4 bedroom home, has a separate, 2 bedroom guest house. Features include: a total remodel inside and out - all new everything with incredible finishes and fixtures, spacious living room with vaulted wood ceiling, family/media room, open kitchen with 2 eating areas, and 3 car garage. The end of the cul de sac location offers stunning Teton views from a private 1.04 acre landscaped setting.

For additional information click on the below link or contact Graham4 at 888 301 2402.

http://www.graham4jh.com/jacksonproperties/homes/09_1394/Profile1.html

Graham4: Ironwood Homesites in Driggs

Ironwood Homesites in Driggs

Ironwood is a new residential community in Driggs, ID close to schools, shopping, and skiing at Targhee. Ironwood is a 67 acre planned unit development with competitively priced lots ranging in size from .31 to 1 acre. There is 77 acres of open space with playgrounds and bike paths. List prices starting at $42,900.

Click on link below for additional information or contact Matt Faupel at 307-690-0204.

http://www.graham4jh.com/idahoproperties/land/ironwood/ironwoodprofile.html

Check out the website at http://www.ironwooddriggs.com/

Graham4: New Listing in San Rodo Ranch

Stunning Setting on the Snake River

List Price: $14,500,000

Unquestionably one of Jackson Hole’s most spectacular offerings. A once in a lifetime opportunity to own 43.9 beautiful acres in two parcels that have everything you could want in a Jackson Hole retreat: over 1,000 feet of private Snake River frontage, direct river access, marvelous Teton and mountain views, streams, pond, fishing, horses allowed, open meadows, cottonwood forests, a charming mountain home, cozy guest cabins, and incredible potential for an additional home and barns….all just minutes from the Jackson town square.

For additional information click on the link below or contact Graham4 at info@graham4jh.com or 888 301 2402.

http://www.graham4jh.com/jacksonproperties/homes/09_1960/Profile1.html

Graham4: Open House July 1st 10:00am to 1:00pm

Creekside Lodge

Open House, July 1st, 10:00am to 1:00pm
Jackson Hole, Wyoming

List Price: $9,500,000

This spectacular property is the perfect Jackson Hole Retreat with a warm and inviting 5,938 sq. ft., 5 bedroom traditional log home; a beautiful 4.5 acre landscaped lot on the meandering Lake Creek; shared ownership of the 365+ acre Lake Creek Ranch with a ranch manger, barns, corrals and pastures for horses and Snake River frontage; riding trails into Grand Teton National Park, breathtaking views of the Grand, the entire Teton Mountain Range and the Jackson Hole Mountain Resort; 4 minutes from front door to the ski slope.

For additional information click on link below or contact Graham4 at 888 301 2402 or info@graham4jh.com:

http://www.graham4jh.com/jacksonproperties/homes/09_1646/Profile1.html