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Land Splits in Teton County, What’s Going On?

July 19, 2016 By Tayson Rockefeller Leave a Comment

Teton County CourthouseAlright, so we been hearing about it for months, and there are those of us that have been intimately involved in understanding the issue, and resolving it. For those of us that have not, a simplified understanding, below. ***Do not rely on this post for building eligibility matters, refer to Teton County Planning & Zoning for questions and/or accuracy, http://www.tetoncountyidaho.gov/department.php?deptID=18&menuID=1

What’s the issue?
A number of building site owners – okay, let’s not call them building sites anymore… A number of lots, vacant land, acreage (whatever) have been declined a building permit within Teton County.
Why?
Now the fun part (it’s difficult to simplify here). Teton County has zones, areas that are restricted to various types of use. Each of these zones have regulations (rules) associated to protect the development and future development of the county, & cities within. Much of the County is comprised on A (agriculture) 2.5 and A20 zoned areas. According to Teton Valley Code: Title 8 of the Teton Valley code, The purpose of these areas is “to designate and provide opportunity for development of residential land use on marginal agricultural land” or “to control development on the most productive agricultural land in the county” HOWEVER just because development is allowed in these areas (and other zones) does not mean George can split 2.5 acres off the family farm and build his dream house. That is why we have Teton Valley Code: Title 9, subdivision regulations. In the instances where a building permit was not granted, the “site” was not split properly along the way – hence the term we keep hearing, “Illegal Lot Split”.
Give me an example!
Alright.
The greatest and most common example is what is called an Agricultural division” process the County had (and still has) available as a simple way to divide acreage. Agricultural exemption: A bona fide division or partition of agricultural land of agricultural purposes, which is the division of land into lots/parcels, all of which are twenty (20) acres or larger and maintained as agricultural lands. This exemption does not apply to a division for residential purposes. <— NOTE; residential purposes.
So, what’s the problem? Just follow the rules, and you have a buildable parcel, right?
 
Well, yeah. No. Here’s a few issues that came up:
1. A split or subdivision was applied with the County and the county accepted or “signed off” even though it did not meet underlying zoning requirements. In many of these instances the County argued that it was signed off by someone who may not have had authority to sign, and it did not meet the zone requirements. The consumer/developer argued “but the County signed off”.
2. Many people went through the process for a division (or those years before them) that did not allow a permit, yet the county provided a permit in many cases. Now that the problem exists on a higher level, the County had denied permits – not only to they neighbor with the same problem, but in some events the person who already had a home in place which meant no remodel, no addition, no new garage, etc.
How were these mistakes made?
 
There’s a few reasons for this, mostly (in my opinion) related to the evolution from a sleepy town of farmers to a growing resort destination. A good example of this is an amendment to the ordinance passed June 14th, 1999. Prior to this date, one could divide no less than 20 acres (through a relatively easy process with the county) and retain building rights. After June 14th, 1999, this could only be done on one occasion, called a “One Time Only Split of One Parcel of Land”. However, many kept on splitting like the good ‘ole days. No one caught on, and kept on splitting and building on. One of the big issues from the eyes of a Real Estate Professional or a Title Expert, in most cases there was no identifying information on a survey map, or more importantly a deed. Much of this information may not exist if an “agriculture only deed” was called… an agriculture deed (or some other form of identifier). If we have no indication something was split improperly 30 years ago, how do we know without an extensive search performed by the County for EVERY example that is outside a platted subdivision?
What’s the fix?
In light of all of this, the County took steps to create a resolution earlier this week (July ’16).
Simplified:
1. Those who went through the process and the County approved (even if it did not meet underlying zone requirements) will in most cases be approved regarTeton Valley News 7-14-16
2. Those who bought property with the expectation of building rights but later learned it was improperly split prior can, in almost every case, apply for the proper process, essentially reversing the prior split and moving forward as it should have been done from the get go. Remember, almost all of these cases are between June 14th 1999, and sometime in 2014 when the County started catching on to all of this. In addition, many of these parcels still have an availabe “One Time Only Split” that can be utilized to help remedy the situation.
You can read more about the problem in a recent amendment to Article 9, Chapter 11, Building Permit Eleigibility of Previously Created Parcels Also, see an article written by the Teton Valley News Article 7-14-16

June ’16 Market Stats

July 6, 2016 By Tayson Rockefeller Leave a Comment

Average sale prices continue to increase when compared to 12 months ago in almost every sector in Teton County Idaho, Wyoming, and Lincoln County Wyoming. Believe it or not, inventory is also up from last year, and up a fair percentage from last month. Number of sales have have increased from 12 months ago, but have decreased from last month. This could be an indication that listing prices have exceeded what buyers are willing to pay, though I feel this is simply a small adjustment in our evolving market, and list prices as well as average sales prices will continue to rise, specifically with lot sales.

 

June '16 Market Stats

Buyer & Seller Tips – Be Nice!

June 15, 2016 By Tayson Rockefeller Leave a Comment

Be NiceWe all read tips and tricks from various real estate blog posts, websites, and other forms of marketing. These can be pricing structures, things to look for in your home inspection, how to negotiate in certain markets, and so on.

One bit of advice I don’t see you come up very often is simply being courteous, and easy to work with. I don’t necessarily mean professional, we should always be professional and ethical. I see scenarios come about all the time that could be easily resolved if both parties were easier to work with one another. You don’t have to like the buyer or seller on the other end of the transaction, and I hate to put it this way, but sometimes you just need to act like you do. Sometimes they are likeable. Sometimes it comes naturally, but oftentimes not.

A few examples;

A buyer is looking at a hot home priced right, being shown frequently. The seller takes great pride of ownership, and owns a well-maintained home with trendy furnishings. Knowing that the home will sell quickly, it would be a consideration for the buyer to be appreciative and respectful. Sellers who are attached to their home are more inclined to work with a buyer who they think will appreciate it. Now is not the time to ask for furnishings, or un-ordinary contingencies. I’ve been in several situations where I have written successful transactions simply by watching the way I word things in the contract, and coaching the buyer on things he or she shouldn’t be asking for. In this scenario, the seller could have easily waited for multiple offers or a higher price, but the seller felt comfortable with the buyer whom by all appearances would be a great new owner.

On the seller’s side, being courteous can be advantageous as well. I have had several situations with sellers who have received multiple offers. There have been circumstances where one offer was clearly above the rest, but the seller still felt it necessary to request multiple offers and give a stringent deadline. Now, there are situations where I advise multiple offer situations on behalf of the seller. However, in this circumstance the buyer in particular with the highest and best offer withdrew, “not wanting to get into a bidding war”. In some regards this communication is delivered through the representing agent or broker, so it’s important to express these feelings to the agent to convey to the opposite end of the transaction. Oftentimes a pushy buyer or seller with unreasonable requests will come through in the agents negotiation whether or not that was the intent.

I might be pushing it with this one, but I personally think it helps to have a courteous relationship between an agent and customer or client. Oftentimes buyers want to see everything available on the market whether that’s 3 or 30 homes in their price range. Without a representation agreement with a buyer, an agent holds an element of concern that customer ultimately work with another broker after many hours or days to weeks of time spent. Expressing appreciation and reassurance is an excellent tool to help that buyer agent relationship and also insure that agent will continue to work diligently on behalf of the customer. The same goes for the seller. I have seen several instances where sellers are clearly the market experts, (Isay this sarcastically) even more so than the agent. They can demand unreasonable marketing requests that will not perform, and are not interested in hearing that agent’s opinion of those marketing avenues. Being appreciative of efforts that agent is making, and even making suggestions can instill not only confidence, but an element of drive to complete the task diligently.

We all know what it means when an agent is ethical, but not necessarily courteous to the public. It can damage that agents reputation, and pocketbook. It is however often overlooked on the opposite end of the spectrum.

Where do listings come from? How will list hub’s termination affect Zillow?

June 6, 2016 By Tayson Rockefeller Leave a Comment

Yes, this is another one of those posts explaining how listings are born, then appear on websites like Zillow and realtor.com. With several new changes to the internet web platforms in recent years, I thought it might be a good time to update this post.Zillow Group

First, a refresher on how listings are born.

Each listing you see online was created by a real estate agency, and typically one agent within an agency. A seller agrees to list a property for sale with that agent, and that agent uploads it to what is called the multiple listing service in most cases.

***The multiple listing service is a database where information about properties is stored, including the ability for agents with other agencies to cooperate with one another, understand how the agents are compensated, and provide information to appraisers (amongst other things).

There is not just one multiple listing service, and there is not a method to the madness in terms of what MLS system an agent uses. There are approximately 1,400 Multiple List Services operated by a local real estate association across the country. For example, the Teton Board of Realtors operates the Teton MLS which covers a bit of East Idaho and Western Wyoming. The Idaho Falls Association of Realtors operates the Snake River MLS and covers most of Eastern Idaho except for Teton County. You start to get the idea, even Phoenix has two multiple listing services that serve the city because there are so many properties for sale. (ever see duplicate listings online? This is because an agent uploaded the same listing to two MLS’s) Each listing in these MLS databases is then sent to, or syndicated with another website. Historically this has been done through a company called List Hub which is a syndication service. List Hub would gather the information from each MLS, and provide a feed to sites like Trulia and Zillow. So, listings are created by an agent, entered into an MLS, that information is then distributed to other web platforms.

Anyway, back to the latest news;

The first major change we saw recently was Zillow group’s acquisition of Trulia. You probably won’t notice too much of a difference on the customer end, but all of us agents now work on one platform for both web sites. Agent profile pages, reviews, all took a hit because of this. If you have had the question in years past which is better or more accurate in terms of Zillow or Trulia, I would say the same at this time. Continue to use whichever site you are more comfortable with.

In even bigger news, we saw a fairly drastic change in the world of News Corp, who owns Move, Inc. You may not know who Move is, but they operate realtor.com which is directly related to the National Association of Realtors. Move also owns the syndication platform mentioned above, List Hub. Knowing that realtor.com and Zillow are competitors, Move made a sharp decision in January of this year to stop supplying feeds from List Hub to the Zillow group. In a hearing in February a judge granted another month of data from List Hub to the Zillow group. Without that preparation time for the Zillow group, we likely would have seen Zillow lose several hundred thousand listings online. Without List Hub, the alternative for companies like the Zillow group was to contact each multiple listing service and request a feed directly from them. In many cases, we found that local MLS boards contacted the Zillow group directly to insure the listings would not be lost on these websites. Such is the case with our Teton MLS, which is why you continue to see local listings on these web sites.

Nationally, it is my opinion that because of this independent brokerage websites and realtor.com are the most reliable source for listing accuracy. It is unlikely that there are very many multiple listing services that are not providing data to sites or companies like the Zillow group, but it is likely that there will remain a few for years to come.

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