Real estate statistics (Lander: for sale, assessor, loans)

[rya700]

Does anyone know where to access wyoming real estate stats on the web or elsewhere.....i am specifically interested in fremont county. For example how many houses have sold in recent months (as opposed to last year in the same month), what percent of asking price they sold for, ect.

In CO these stats are listed regularly in the newspaper every week, haven't seen them in wyo yet.

Thanks

[sunsprit]

Wyoming is, by law, a "non-reporting" state for real estate transactions.

The only people who have to know the details of the sales are the buyer/seller and the county assessor who (via a sales report for the new taxable owner, in confidence) uses the information to determine market values of the properties in the county. Of course, if the buyer uses financing, the lender will know the details, too.

So, unlike states where all of these transactions are public information, it's not in Wyoming.

The only way you can get most of this information is through the local real estate agencies who privately keep track of the transactions they are a party to and share locally between themselves and the local independent appraisers. This will not include private transactions, which may also be a factor in the local marketplace, although heresay reporting may show up.
The assessor's office can tell you the local assessed rates for land (comprised of various uses, types of soils, irrigated/non-irrigated), and the local assessed values for psf buildings and structures; but this information is not directly linked to any particular property and house as a "sold" price.

[rya700]

Very interesting.....it is weird how things vary from state to state. This must really give the real estate agents and the sellers the upper hand.

[shadowwalker]

Yah, my ex wife used to be able to tell who took out major loans(cars,houses,businesses),who in family,where imployed, income and alot more information than she should not have had acess to. Because some "book" came out periodicly with that infomation and the realtor office she worked for subscribed to it. She liked this alot, she could dish on personal info for her co-conspirators,er, co-workers I mean.

[sunsprit]

Originally Posted by rya700

Very interesting.....it is weird how things vary from state to state. This must really give the real estate agents and the sellers the upper hand.

Yes, and no. It works both ways.

A seller has little true knowledge of what comparable properties in the area have sold for, so has to "guess" a bit about where to price their place. They may be high, they may be low ....

Similarly, a buyer has little knowledge of what comparable properties in the area have sold for, so ....

The perceptions of "value" and pricing remain ambiguous, and real estate agents can be a resource, as can an independent appraiser when it comes time to buy or sell.

I have seen agents (as well as neighbors) take advantage of a situation, by buying properties that were asked at well below market rates, especially when they went out on Listing appointments. You'll see many properties in Wyoming listed for sale where it's disclosed (by law) that the property is owned by the listing agent.

At one time, I had an opportunity to buy a ranch for a very good price ... I was the first to hear about a family distress medical situation and be offered a place. The rancher announced to his buddies at the local cafe that morning that he was about to move himself and his wife to the local assisted living home. Another rancher at breakfast asked if he was going to sell his place, and how much he was going to ask for it ... the fellow allowed as how he had a "fish on the line" that day (me) who was coming over to buy the place and happily (if not gleefully) named his BIG price. The neighbor got out his checkbook and wrote a check for the place immediately. I showed up later that day to look over the place and was told it'd already been sold that morning. The price, IMO, was far far far below the marketplace, especially when I saw all the infrastructure that had been developed and the very nice house. It became common knowledge how little the place had sold for ... one of the last area ranches to be sold for it's ranching productive value instead of an appreciated value as parcels or development.

IMO, you'd be well advised to get an appraisal on a property (which may be required by a lender, anyway) before completing a deal here. You may be in for a real eye-opener about the asked price ... there's been a lot of properties around here sold where the seller was not serious about selling, just looking for that pie in the sky top dollar if anybody was foolish enough to pay that much money for their place. Unfortunately for us already here, there's been a lot of available money and foolish buyers from out of state inflated housing markets ... who thought the price was a bargain. Little did they know about climate, water, vegetation, pastureland, etc etc. I've seen a fair number of folks buy here, move here, and move back away within one winter's season when the realities of living here become more apparent.

[rya700]

IMO, you'd be well advised to get an appraisal on a property (which may be required by a lender, anyway) before completing a deal here. You may be in for a real eye-opener about the asked price ... there's been a lot of properties around here sold where the seller was not serious about selling, just looking for that pie in the sky top dollar if anybody was foolish enough to pay that much money for their place. Unfortunately for us already here, there's been a lot of available money and foolish buyers from out of state inflated housing markets ... who thought the price was a bargain. Little did they know about climate, water, vegetation, pastureland, etc etc. I've seen a fair number of folks buy here, move here, and move back away within one winter's season when the realities of living here become more apparent.[/quote]


I understand the property values going up in the 'boom towns' but i am looking to buy in Lander which has not much been affected. However, the real estate prices here are significantly more than in r.s, casper, even riverton.

I am a nurse working at the hospital, and i have had several patients who have told me they retired here from cali, iowa, ect. I have asked them how they found Lander and they say 'on the internet.' Most of them had pretty affluent jobs they retired from, college professors, ect.

Apparently some real estate agent has done a really good job of marketing lander as a retirement community, and this town did get a rating as the '#5 small town in america' several years ago, which brought alot of national media attn.

lander is still cheap compared to property in Cali, ect but things are slowing down out there......so it should trickle down don't you think? Asking real estate prices here have to be grossly overinflated especially considering the median income is only 32k.

Thanks for the info sunsprit - I won't feel so bad about making an offer on what I feel the property is actually worth.

[sunsprit]

[quote=rya700;6701680]
lander is still cheap compared to property in Cali, ect but things are slowing down out there......so it should trickle down don't you think? Asking real estate prices here have to be grossly overinflated especially considering the median income is only 32k.

/[quote]

You've fallen into the fallacy of comparing CA land prices to those of Wyoming. It's a totally different paradigm, a totally different population and economic base. Your rationalization that Wyoming is a bargain because it's so much less expensive than CA is not valid, nor is any "trickle down" aspect going to apply.

Wyoming's small towns also have a much less popularity factor to live in compared to CA's climate, beaches, mountains, etc.

When you add in the climate, soils, and other factors about living in Wyoming, it's not a popular draw compared to many other places.

Lander has a much more stable economic basis than much of Wyoming, but that doesn't mean it hasn't been a "draw" for a long time ... longer than some recent promotions of the area. In comparison, it's been more expensive than many other WY areas for a long time.

Do your due diligence on pricing and active sales in the area, then make your offer. Try to use a "buyer's agent" who is working primarily for you, and can assist in getting the best price. Good luck in your purchase.