thermop in 2 years? (Sheridan, Cody, Rawlins: real estate, rent, condo)

[wyoman]

Thinking of selling out in Sheridan in next 2 years and retireing to thermop. Looks good now-what do you guys think property will do there in next 2 yrs? Have lived in worland an went to thermop every weekend to fish an enjoy the springs. I know the town but am afraid it might get "discovered" which would drive me out of the home market. Have almost always owned an don't know if I could handle renting! Thanks!

[mark6052]

If you are ready to retire then you have lived long enough in the area to know that land in the "longrun" will go up. if you buy now and thermop gets DISCOVERED you might make a profit to go else where. keep in mind that whats crowded to you is very small to others. the whole state population is a small county in many other states. hasnt sheridan been discovered? I know some that wish "they" would forget gillette.

[wyoman]

Originally Posted by mark6052

If you are ready to retire then you have lived long enough in the area to know that land in the "longrun" will go up. if you buy now and thermop gets DISCOVERED you might make a profit to go else where. keep in mind that whats crowded to you is very small to others. the whole state population is a small county in many other states. hasnt sheridan been discovered? I know some that wish "they" would forget gillette.

Thanks Mark! I agree - Sheidan has been my home for many years an have done very well here as many will in the future! My question is that of near retiree! Not forsaking the town I love-but the need to be close enough to it to still enjoy and keep the ties I have to it-family-friends-but also find another place that is comfortable and family friendly an settle down an be happy an not out priced. Not trying to cash in on anything I haven't earned an run!

[StealthRabbit]

Consider bargain shopping in Thermop, maybe buying a condo or small place that you could rent out till you get there. At least you would have some inflation protection. (and a new loan while you still have a job... I should have been so smart....)

I doubt the values will soar in Thermop, as I feel the cost of commuting is going to weigh heavy on 'out-lying' spots. I'm buying my investment props in areas with close freeway access (like Sheridan...) BTW, you might be wise to keep a real estate investment presence there too, if you might need to move back... BTDT.... I have been very happy (and lucky) with my commercial Real Estate investments, so much nicer to manage (and often cheaper to buy) than residential. If I would have onl,y been so smart 30 yrs ago, they would be paid off, and I would be collecting $$, basically equivalent to my last job.

[RockyMtnr]

I doubt that Thermop will ever rank high on the "discovered" list. Maybe if everything else in the state sells first.
Not that the town doesn't possess a 19th-century style "old west" beauty ... it's just that everything changes when you start up the car and drive 2 miles.
I was seeing some inflated pricing even 10 years ago (did the hardware store ever sell? for bucu bucks?)
Even Worland I would not expect to inflate all that much. One good winter takes care of most attempts at change. Unless something has changed since I've been gone, that entire area north of Rawlins and south of Cody never really grows in numbers - just seems to change people in and out over the years.