Happy Friday!
August is on us, the symphony is in town and the weather, despite a few thunder showers is gorgeous! This weekend the Folk Festival is on in Hailey in addition to all of the north valley concerts and events.
Showings this past week picked up significantly and we’ve seen a number of $2 million + listings go under contract in the past few weeks. All good signs that the real estate market, though still rocky, is picking up steam.
Here are the statistics for July:
New listings: 230
Price reductions: 225
Pending Sales: 51
Closings: 40
Of the closings:
Average Sales Price: $438,000
Low Sales Price: $29,000
High Sales Price: $7,000,000
Average days on market: 171
These were the sales:
3 houses in Ketchum
2 homes in Sun Valley (One was $7 million)
4 condo/townhomes in Ketchum
3 condo/townhouses in Sun Valley
1 vacant lot in Hailey ($150,000)
1 vacant lot in Ketchum ($750,000)
6 homes in Bellevue
11 homes in Hailey
8 homes outside Blaine County
Rob, Rob and I currently have 45 properties listed, many with very motivated sellers. If you would like to browse through our listings we encourage you to visit our website: http://www.svbrokers.com/properties/search.php?userid=23
And if you would like to browse the entire MLS, our office website has the best search engine available on the web. Take a look at http://www.svbrokers.com/frame.php?url=http://link.flexmls.com/goqne1kvs8h,6 to search all of the current valley listings.
Wishing you a wonderful weekend!
Katherine Rixon, Rob Cronin and Rob Hogan
Thursday, August 5, 2010
Friday, July 23, 2010
Client Update, 7/23/10
Happy Friday!
In true summer form, the beautiful days of July are FLYING by! The summer always bring out the best Sun Valley has to offer and just this week I have been privileged enough to see a private performance by the Company of Fools that rivals a Broadway play, heard Dave Mason, formerly of Traffic, play at River Run (with an opening band made up of local tweens) and tonight get to drink some of the countries’ finest wines at the Sun Valley Center for the Arts’ Wine Auction. Where else in the world does a small town offer so much big city culture? And the best part is that these events are accessible to practically every age and social status. I truly believe we live in one of the finest places in the country!
Of course real estate is at its busiest in July. Showings are up and sales, while nowhere near their past levels are slowly trickling in. We seem to be on par with most Western resort economies. In a report from the Western Mountain Resort Alliance summer meeting in Lake Tahoe, CA last month, representatives from our local Board of Realtors said the following:
“In general, most resort markets are moving forward. Some are still seeing a small decline in pricing. It is perceived that most resorts are at the bottom and slowly making their way back up. Interest rates are still low. When the market really makes a significant rise, interest rates will also rise. Now is when Realtors should be encouraging buyers to purchase, before interest rates go up. California resort sales are at pre-peak levels. With the median income up 9%, affordability is at near-record high. Resort foreclosures are at 30-40% of the market and short-sales are another 30-40%. Generally the resort market is tracking with the rest of the market, though inventories are higher and prices softer than non-resort markets.”
So the deals are out there and while buyers are hesitant and cautious, transactions are beginning to take place.
On the national front, we are seeing the housing economy going through a bumpy ride. The interactive chart, Where Housing is Headed published in the Wall Street Journal shows that even the healthiest cities are not over the hurdle quite yet.
One this is for sure, good housing economy or bad, the Wood River Valley is still an incredible place to live and play.
Wishing all of you a wonderful weekend of summer fun!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
In true summer form, the beautiful days of July are FLYING by! The summer always bring out the best Sun Valley has to offer and just this week I have been privileged enough to see a private performance by the Company of Fools that rivals a Broadway play, heard Dave Mason, formerly of Traffic, play at River Run (with an opening band made up of local tweens) and tonight get to drink some of the countries’ finest wines at the Sun Valley Center for the Arts’ Wine Auction. Where else in the world does a small town offer so much big city culture? And the best part is that these events are accessible to practically every age and social status. I truly believe we live in one of the finest places in the country!
Of course real estate is at its busiest in July. Showings are up and sales, while nowhere near their past levels are slowly trickling in. We seem to be on par with most Western resort economies. In a report from the Western Mountain Resort Alliance summer meeting in Lake Tahoe, CA last month, representatives from our local Board of Realtors said the following:
“In general, most resort markets are moving forward. Some are still seeing a small decline in pricing. It is perceived that most resorts are at the bottom and slowly making their way back up. Interest rates are still low. When the market really makes a significant rise, interest rates will also rise. Now is when Realtors should be encouraging buyers to purchase, before interest rates go up. California resort sales are at pre-peak levels. With the median income up 9%, affordability is at near-record high. Resort foreclosures are at 30-40% of the market and short-sales are another 30-40%. Generally the resort market is tracking with the rest of the market, though inventories are higher and prices softer than non-resort markets.”
So the deals are out there and while buyers are hesitant and cautious, transactions are beginning to take place.
On the national front, we are seeing the housing economy going through a bumpy ride. The interactive chart, Where Housing is Headed published in the Wall Street Journal shows that even the healthiest cities are not over the hurdle quite yet.
One this is for sure, good housing economy or bad, the Wood River Valley is still an incredible place to live and play.
Wishing all of you a wonderful weekend of summer fun!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
Saturday, July 3, 2010
June Real Estate Statistics and Client Update, Sun Valley, Idaho
Happy Friday!
The weather has turned beautiful and town is BUSY! Tonight I'm taking my kids to the opening of the new Ketchum Town Square fore the ribbon cutting and FREE ICE CREAM! What a great new addition to town!
Since what everyone wants to know is WHAT IS THE MARKET DOING? I'm going to get right to the June statistics:
In June there were:
312 New Listings
229 Price Reductions
50 Pending Sales
37 Sales
18 new default filings (properties pending foreclosure)
Of the sales:
Average Sales Price: $606,000
Low Sales Price: $27,000 (lot in Featherville)
High Sale Price: $6,300,000 (residence in Adam's Gulch)
From January 1 - July 1, 2010 over the same time period last year we are
Up in volume 36%
Up in number of sales 38%
The statistics above show there is an easing of the purse strings and buyers are feeling better about spending money again. However except in rare cases, most buyers are looking for properties that are significantly discounted from the market high. Short sales and foreclosures are still dominating the market. We expect this to continue through the summer. While we expect good sales volume, the discounted properties will be at the forefront.
On another note, I ran into some clients this week who congratulated me on my new business venture. Confused, I asked them what they meant and they referred to this newsletter coming from Pilot Investments. And then I realized that when I started these weekly updates over a year ago they came from my personal email account. Once the list grew too large I had to switch to a newsletter format which now comes officially from Pilot Investments. Along the way I never explained exactly what we are all about. So if you care to know and have a few minutes to spare, keep reading……
Who and What is Pilot Investments and where did they come from???
I started in real estate in 2001 and in the first five years of my career built a very solid residential business. My background is in economics and so I’ve always enjoyed running numbers and looking at real estate from an investment angle. When I was asked to run the commercial division of Coldwell Banker in 2005 I though it would be a great fit. I also jumped at the idea of working on a real estate team, rather than feeling like an island in a sea of realtors. Rob Cronin came from a similar background and when we met we hit it off right away. He is the outgoing, gregarious one who loves meeting new people. I am best at the nuts and bolts of real estate transactions. Don’t get me wrong, I like meeting people, too, but Rob is REALLY good at it!
We started our team and began to tackle leasing and selling commercial properties up and down the valley. We went out (in person) and spoke with owners and tenants from Bellevue to Ketchum to learn the market backwards and forwards. At CB we also met and started working with Rob Hogan who was a lead member of the Investment Division, focused on finding income producing properties around the western United States for some of our local clients. (Hogan is also a former commercial pilot and has the unique ability to be able to personally fly clients to visit markets in which they are interested.) This situation went quite well for a time, but we started to feel a bit confined in our abilities to sell various properties as our former residential clients came calling and we had to refer them out to other agents. We were very intrigued with the investment business as many of our residential clients are also avid real estate investors. Rob, Rob and I started to formulate what we thought would be the ideal real estate brokerage, one that would offer a full range of services to our clients yet still be considered a specialized boutique operation.
So in 2007, when Sun Valley Brokers approached Cronin and I asking if we would like to come in as new partners to their independent firm it seemed like the perfect fit. We made the move and brought Rob Hogan along with us, forming a new team under the Sun Valley Brokers umbrella called Pilot Investments. We have since built the business to where it is today. We currently have 40 local residential and commercial listings and are proud to announce that we have won the 2010 “Valley’s Best Realtor(s)” award. We have also successfully closed over $20 million in investment deals in the past two years, despite the economic downturn. Now we are beginning to work on some "alternative" real estate investment opportunities in the fields of natural gas, solar and wind power.
We love working as a team and best of all we have a lot of fun together. To top it off, we have made a ton of great friends along the way!
With that I will wish you all a very happy 4th of July weekend. Please stop by Zou 75 if you are in Hailey for the parade on Sunday. As most of you know, Rob and Kris Cronin throw a great party!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
The weather has turned beautiful and town is BUSY! Tonight I'm taking my kids to the opening of the new Ketchum Town Square fore the ribbon cutting and FREE ICE CREAM! What a great new addition to town!
Since what everyone wants to know is WHAT IS THE MARKET DOING? I'm going to get right to the June statistics:
In June there were:
312 New Listings
229 Price Reductions
50 Pending Sales
37 Sales
18 new default filings (properties pending foreclosure)
Of the sales:
Average Sales Price: $606,000
Low Sales Price: $27,000 (lot in Featherville)
High Sale Price: $6,300,000 (residence in Adam's Gulch)
From January 1 - July 1, 2010 over the same time period last year we are
Up in volume 36%
Up in number of sales 38%
The statistics above show there is an easing of the purse strings and buyers are feeling better about spending money again. However except in rare cases, most buyers are looking for properties that are significantly discounted from the market high. Short sales and foreclosures are still dominating the market. We expect this to continue through the summer. While we expect good sales volume, the discounted properties will be at the forefront.
On another note, I ran into some clients this week who congratulated me on my new business venture. Confused, I asked them what they meant and they referred to this newsletter coming from Pilot Investments. And then I realized that when I started these weekly updates over a year ago they came from my personal email account. Once the list grew too large I had to switch to a newsletter format which now comes officially from Pilot Investments. Along the way I never explained exactly what we are all about. So if you care to know and have a few minutes to spare, keep reading……
Who and What is Pilot Investments and where did they come from???
I started in real estate in 2001 and in the first five years of my career built a very solid residential business. My background is in economics and so I’ve always enjoyed running numbers and looking at real estate from an investment angle. When I was asked to run the commercial division of Coldwell Banker in 2005 I though it would be a great fit. I also jumped at the idea of working on a real estate team, rather than feeling like an island in a sea of realtors. Rob Cronin came from a similar background and when we met we hit it off right away. He is the outgoing, gregarious one who loves meeting new people. I am best at the nuts and bolts of real estate transactions. Don’t get me wrong, I like meeting people, too, but Rob is REALLY good at it!
We started our team and began to tackle leasing and selling commercial properties up and down the valley. We went out (in person) and spoke with owners and tenants from Bellevue to Ketchum to learn the market backwards and forwards. At CB we also met and started working with Rob Hogan who was a lead member of the Investment Division, focused on finding income producing properties around the western United States for some of our local clients. (Hogan is also a former commercial pilot and has the unique ability to be able to personally fly clients to visit markets in which they are interested.) This situation went quite well for a time, but we started to feel a bit confined in our abilities to sell various properties as our former residential clients came calling and we had to refer them out to other agents. We were very intrigued with the investment business as many of our residential clients are also avid real estate investors. Rob, Rob and I started to formulate what we thought would be the ideal real estate brokerage, one that would offer a full range of services to our clients yet still be considered a specialized boutique operation.
So in 2007, when Sun Valley Brokers approached Cronin and I asking if we would like to come in as new partners to their independent firm it seemed like the perfect fit. We made the move and brought Rob Hogan along with us, forming a new team under the Sun Valley Brokers umbrella called Pilot Investments. We have since built the business to where it is today. We currently have 40 local residential and commercial listings and are proud to announce that we have won the 2010 “Valley’s Best Realtor(s)” award. We have also successfully closed over $20 million in investment deals in the past two years, despite the economic downturn. Now we are beginning to work on some "alternative" real estate investment opportunities in the fields of natural gas, solar and wind power.
We love working as a team and best of all we have a lot of fun together. To top it off, we have made a ton of great friends along the way!
With that I will wish you all a very happy 4th of July weekend. Please stop by Zou 75 if you are in Hailey for the parade on Sunday. As most of you know, Rob and Kris Cronin throw a great party!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
Friday, June 18, 2010
Happy Friday!
I was looking yesterday at the statistics put out by the Western Mountain Resort Alliance showing the first quarter sales in each Western resort area. (Towns include Whistler, Park City, Steamboat, Summit County, Sun Valley, Telluride, Teton , Vail, McCall, Grand County, Big Sky, and Tahoe) When graphed, the statistics show a very obvious trend over the past three years. While I think everyone is aware of the dip down, what is impressive to see is that in every resort market, the sales in the first quarter of 2010 have dramatically improved in both volume and number of units sold. The graphs look like a bunch of varying sized "Vs".
On the graphs for average sales price, the trend is still downward in most markets, showing the impact short sales and REOs are having across the board. Once the supply of distressed and bank-owned properties diminish, we will then see prices stabilize and then start to rise. I believe that this will happen in our area towards the beginning of next summer. An early indicator that things may be turning towards the positive is that for the first time in a number of months Blaine County finally saw a drop in loan default notices. The rate of foreclosures will be the next to drop. The reason I mention these statistics is to remind you that Sun Valley is going through the same cycles as all of the other Western resort markets. Once we start to see their markets improve we can expect the same to follow suit in our area.
If you are interested in seeing these statistics, feel free to reply to this email and I'll be happy to send them along.
Pilot Investments is currently working on three very interesting commercial investment opportunities. These deals are not on the market and range in size from $4 Million to $35 Million. They all have very strong tenants and leases. One of the properties has a committment for financing from a very solid lender who is familiar with both the market and the tenant. Please give Rob Hogan or Rob Cronin a call if you would like more information.
Tomorrow I'm taking my kids over Trail Creek Summit to experience the Mackay Rodeo first hand. Then we're off to celebrate Father's Day with Papa Rixon.
Happy Father's Day to all you Dads out there. May your weekend be filled with love and adventure!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
I was looking yesterday at the statistics put out by the Western Mountain Resort Alliance showing the first quarter sales in each Western resort area. (Towns include Whistler, Park City, Steamboat, Summit County, Sun Valley, Telluride, Teton , Vail, McCall, Grand County, Big Sky, and Tahoe) When graphed, the statistics show a very obvious trend over the past three years. While I think everyone is aware of the dip down, what is impressive to see is that in every resort market, the sales in the first quarter of 2010 have dramatically improved in both volume and number of units sold. The graphs look like a bunch of varying sized "Vs".
On the graphs for average sales price, the trend is still downward in most markets, showing the impact short sales and REOs are having across the board. Once the supply of distressed and bank-owned properties diminish, we will then see prices stabilize and then start to rise. I believe that this will happen in our area towards the beginning of next summer. An early indicator that things may be turning towards the positive is that for the first time in a number of months Blaine County finally saw a drop in loan default notices. The rate of foreclosures will be the next to drop. The reason I mention these statistics is to remind you that Sun Valley is going through the same cycles as all of the other Western resort markets. Once we start to see their markets improve we can expect the same to follow suit in our area.
If you are interested in seeing these statistics, feel free to reply to this email and I'll be happy to send them along.
Pilot Investments is currently working on three very interesting commercial investment opportunities. These deals are not on the market and range in size from $4 Million to $35 Million. They all have very strong tenants and leases. One of the properties has a committment for financing from a very solid lender who is familiar with both the market and the tenant. Please give Rob Hogan or Rob Cronin a call if you would like more information.
Tomorrow I'm taking my kids over Trail Creek Summit to experience the Mackay Rodeo first hand. Then we're off to celebrate Father's Day with Papa Rixon.
Happy Father's Day to all you Dads out there. May your weekend be filled with love and adventure!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
Tuesday, June 8, 2010
Blaine County Real Estate Statistics, May, 2010
Happy Friday!
Despite the mediocre weather, Memorial Day weekend was busy throughout the valley. Retails and restaurants saw increased activity and all signs pointed towards the beginning of a busy summer!
On this very wet and rainy day I thought you'd all be interested in seeing the statistics for the month of May.
200 New Listings
162 Price Reductions
47 Properties went under contract
30 Properties Closed (5 over $1 Million)
1 house in Bellevue
1 house mid-valley
3 houses north of ketchum
2 houses outside the valley
11 houses in Hailey
2 houses in Ketchum
4 condo/townhouses in Ketchum
3 condo/townhouses in Elkhorn
1 townhouse in Hailey
2 condos in Warm Springs
1 vacant lot in Hailey
Of the 30 that sold
Average days on the market: 250
Average sales price: $603,000
Properties sold at an average of 87% of their listing price.
I also found the following article from the Wall Street Journal interesting. While it doesn't apply to our valley yet, this is definitely a sign of better times to come. Once the wealthy feel comfortable in the primary markets, the next step will be a strengthening of resort markets such as ours!
Luxury Sales Bounce Back
Bidding wars for a $2 million house? In some markets, sales of high-end homes return to levels not seen since the boom
If you know someone thinking of buying or selling a home, who would appreciate the service we offer, we'd love to help them. So, just give us a call or email me their name and number and we'll
be happy to follow up. You can be assured we'll take great care of them!
Wishing you all a terrific weekend!
Katherine Rixon, Rob Cronin and Rob Hogan
Despite the mediocre weather, Memorial Day weekend was busy throughout the valley. Retails and restaurants saw increased activity and all signs pointed towards the beginning of a busy summer!
On this very wet and rainy day I thought you'd all be interested in seeing the statistics for the month of May.
200 New Listings
162 Price Reductions
47 Properties went under contract
30 Properties Closed (5 over $1 Million)
1 house in Bellevue
1 house mid-valley
3 houses north of ketchum
2 houses outside the valley
11 houses in Hailey
2 houses in Ketchum
4 condo/townhouses in Ketchum
3 condo/townhouses in Elkhorn
1 townhouse in Hailey
2 condos in Warm Springs
1 vacant lot in Hailey
Of the 30 that sold
Average days on the market: 250
Average sales price: $603,000
Properties sold at an average of 87% of their listing price.
I also found the following article from the Wall Street Journal interesting. While it doesn't apply to our valley yet, this is definitely a sign of better times to come. Once the wealthy feel comfortable in the primary markets, the next step will be a strengthening of resort markets such as ours!
Luxury Sales Bounce Back
Bidding wars for a $2 million house? In some markets, sales of high-end homes return to levels not seen since the boom
If you know someone thinking of buying or selling a home, who would appreciate the service we offer, we'd love to help them. So, just give us a call or email me their name and number and we'll
be happy to follow up. You can be assured we'll take great care of them!
Wishing you all a terrific weekend!
Katherine Rixon, Rob Cronin and Rob Hogan
Friday, May 14, 2010
Client Update, 5/14/2010
Happy Friday!
I've been having lots of questions from friends and clients about the
news surrounding our recent increase in real estate activity here in the
valley so I want to pass along to you what I have been passing along to
them:
Yes, it is true we are up approximately 100% in number of sales over
this time last year. However most of the properties that have been
selling are either distress sales or properties that have been taken in
foreclosure by a lender. While this is a positive and necessary step
towards a healthy real estate economy, we are not there yet. Before I
will truly consider our economy healthy, and before we will see prices
stabilize, we will need to sell through all of the short-sales and
foreclosures. Now is still a great opportunity to buy, however unless
you absolutely need to sell it's not the best time to list your home.
Below I have attached links to some positive articles that show the
national trends are positive. I am hopeful that by 2011 Blaine County
will be back to a truly heathy market.
==========
Housing Prices to Rise 3-5% This Year
http://www.cnbc.com/id/37061639
John Paulson, the hedge-fund manager who made $15 billion shorting the
real estate market, said Monday that he expects housing prices to rise
between 3 and 5 percent this year and another 8 to 12 percent in 2011.
Paulson, who made his comments in a conference call with investors, said
home ownership is the most affordable it has been in 50 years. He said
residential real estate is 60 percent more affordable than it was at the
peak of the housing bubble.
And another positive article from US News and World Report states that
Idaho is on of the 10 states projected to have the highest growth in
income over the next five years. Read more at:
States Where Incomes Will Soar, and Stagnate
http://www.usnews.com/money/blogs/flowchart/2010/5/7/states-where-incomes-will-soar-and-stagnate.html
==========
All in all the national news is good and this will follow to our neck of
the woods. Locally we are thrilled to see the new town plaza underway
and great strides being made towards approving some of the new hotel
projects.
Wishing you a wonderful spring weekend. Please don't hesitate to call us
if we can help with any of your real estate needs!
Katherine Rixon, Rob Cronin and Rob Hogan
I've been having lots of questions from friends and clients about the
news surrounding our recent increase in real estate activity here in the
valley so I want to pass along to you what I have been passing along to
them:
Yes, it is true we are up approximately 100% in number of sales over
this time last year. However most of the properties that have been
selling are either distress sales or properties that have been taken in
foreclosure by a lender. While this is a positive and necessary step
towards a healthy real estate economy, we are not there yet. Before I
will truly consider our economy healthy, and before we will see prices
stabilize, we will need to sell through all of the short-sales and
foreclosures. Now is still a great opportunity to buy, however unless
you absolutely need to sell it's not the best time to list your home.
Below I have attached links to some positive articles that show the
national trends are positive. I am hopeful that by 2011 Blaine County
will be back to a truly heathy market.
==========
Housing Prices to Rise 3-5% This Year
http://www.cnbc.com/id/37061639
John Paulson, the hedge-fund manager who made $15 billion shorting the
real estate market, said Monday that he expects housing prices to rise
between 3 and 5 percent this year and another 8 to 12 percent in 2011.
Paulson, who made his comments in a conference call with investors, said
home ownership is the most affordable it has been in 50 years. He said
residential real estate is 60 percent more affordable than it was at the
peak of the housing bubble.
And another positive article from US News and World Report states that
Idaho is on of the 10 states projected to have the highest growth in
income over the next five years. Read more at:
States Where Incomes Will Soar, and Stagnate
http://www.usnews.com/money/blogs/flowchart/2010/5/7/states-where-incomes-will-soar-and-stagnate.html
==========
All in all the national news is good and this will follow to our neck of
the woods. Locally we are thrilled to see the new town plaza underway
and great strides being made towards approving some of the new hotel
projects.
Wishing you a wonderful spring weekend. Please don't hesitate to call us
if we can help with any of your real estate needs!
Katherine Rixon, Rob Cronin and Rob Hogan
Friday, May 7, 2010
Client Update, 5/7/10
Happy Friday!
The sun came out this morning and though it’s still not the warm spring weather I was hoping for it does remind me that summer is coming and along with it so many reasons why I love the season. The following are a few exciting upcoming events this spring and early summer:
The Sun Valley Wellness Festival, with featured speaker, Jamie Lee Curtis. May 28 – 31
In addition to Jamie Lee Curtis, there are over 30 other presentations by authors, doctors, and experts in a variety of fields, 11 movement classes from pilates to yoga to belly dancing, workshops on everything from golf to herbal medicines, an exhibit hall featuring terrific products from over 30 vendors, a hands on hall where you can receive a massage and get a henna tattoo. Rates at Sun Valley start at $115 per night http://www.sunvalleywellness.org/
The 6th annual Sun Valley Half Marathon will take place in stunning Sun Valley, Idaho, on June 5th and will offer several new improvements, both to the course and the logistics of the race itself. The start/finish area will move to the new Sun Valley Pavilion lawn at the Sun Valley Resort, allowing for a relaxing spot for spectators to watch as family and friends cross the finish line. http://www.sunvalleyhalfmarathon.com/
The First Annual Sun Valley Rhythm and Ride: Bike and Music Festival will take place June 24 – 27th. Events Include the Ketchum Cruiser Criterion, Sheep Town Fat Tire Rally, the Sawtooth Century bicycle tour, the Dollar Mountain 10K Trail Run, Musical Headline Concerts in Hailey and Sun Valley, the First Annual Idaho Pump Track State Championships, plus tentative plans for a Ride the Harriman Trail and group rides with high profile mountain bike champions, yoga sessions and more. This brand new festival is to celebrate the over 700km of single-track trails in Sun Valley with many more within a short drive of the area. http://SVRhythmandRide.com
And now for the detailed April Statistics:
Current Active Listings: 1,742
New Listings: 184
Properties that went under contract: 48
Properties sold: 41
Average Sales Price: $615,800
Of the properties that sold:
Average Sales Price: $678,100
Average Days on Market 202
Low Sales Price $57,000
High Sales Price $5,500,000
Comparing Jan – April 30th of this year to the same time frame last year:
• We have 6% fewer listings
• 44% more properties have gone under contract
• 51% more properties have sold
• Sold Volume is up 31%
• Average sales price has dropped 11%
Wishing you a sunny and fun spring weekend!
Katherine, Rob Cronin and Rob Hogan
The sun came out this morning and though it’s still not the warm spring weather I was hoping for it does remind me that summer is coming and along with it so many reasons why I love the season. The following are a few exciting upcoming events this spring and early summer:
The Sun Valley Wellness Festival, with featured speaker, Jamie Lee Curtis. May 28 – 31
In addition to Jamie Lee Curtis, there are over 30 other presentations by authors, doctors, and experts in a variety of fields, 11 movement classes from pilates to yoga to belly dancing, workshops on everything from golf to herbal medicines, an exhibit hall featuring terrific products from over 30 vendors, a hands on hall where you can receive a massage and get a henna tattoo. Rates at Sun Valley start at $115 per night http://www.sunvalleywellness.org/
The 6th annual Sun Valley Half Marathon will take place in stunning Sun Valley, Idaho, on June 5th and will offer several new improvements, both to the course and the logistics of the race itself. The start/finish area will move to the new Sun Valley Pavilion lawn at the Sun Valley Resort, allowing for a relaxing spot for spectators to watch as family and friends cross the finish line. http://www.sunvalleyhalfmarathon.com/
The First Annual Sun Valley Rhythm and Ride: Bike and Music Festival will take place June 24 – 27th. Events Include the Ketchum Cruiser Criterion, Sheep Town Fat Tire Rally, the Sawtooth Century bicycle tour, the Dollar Mountain 10K Trail Run, Musical Headline Concerts in Hailey and Sun Valley, the First Annual Idaho Pump Track State Championships, plus tentative plans for a Ride the Harriman Trail and group rides with high profile mountain bike champions, yoga sessions and more. This brand new festival is to celebrate the over 700km of single-track trails in Sun Valley with many more within a short drive of the area. http://SVRhythmandRide.com
And now for the detailed April Statistics:
Current Active Listings: 1,742
New Listings: 184
Properties that went under contract: 48
Properties sold: 41
Average Sales Price: $615,800
Of the properties that sold:
Average Sales Price: $678,100
Average Days on Market 202
Low Sales Price $57,000
High Sales Price $5,500,000
Comparing Jan – April 30th of this year to the same time frame last year:
• We have 6% fewer listings
• 44% more properties have gone under contract
• 51% more properties have sold
• Sold Volume is up 31%
• Average sales price has dropped 11%
Wishing you a sunny and fun spring weekend!
Katherine, Rob Cronin and Rob Hogan
Friday, April 30, 2010
Client Update, 4/30/10
Happy Friday! Amazingly we’ve come to the end of April already. While town has been quiet we’ve seen a rush on properties, partially because the Home Buyer Tax credit expires today. Anyone wanting to quality for the credit must have a legally binding contract signed by the end of today and must close on the property they are buying by June 30th.
I believe this push to meet the tax credit deadline has been instrumental in our area seeing another good month of sales. Unofficial statistics for the month of April show that 47 properties went under contract and 47 closed. While half of these sales were under $400,000 we still saw six properties sell for over $1 million. Eight of the properties that went under contract were also over $1 Million. I’ll have official April statistics for you next Friday.
We have a few clients struggling to sell their properties before foreclosure. While short-sales are difficult and time-consuming, the following article explains why it is worth trying to sell your home short rather than face foreclosure. We have completed several successful short sales in the past year and if you find yourself in this position, please let us know if we can help.
Fannie Offers Spur to Avoid Foreclosure
Fannie Mae will make it easier for some struggling homeowners to buy houses in the future if they avoid foreclosure in the present.
Under rules released this month that will take effect in July, some troubled borrowers who give up their homes by voluntarily transferring ownership through a "deed in lieu of foreclosure" or by completing a short sale, where a home is sold for less than the amount owed, will be eligible in two years to apply for a new mortgage backed by Fannie.
Currently, borrowers who complete a deed-in-lieu of foreclosure must wait four years before they can take out a loan that Fannie is willing to purchase.
Read the full article at:
http://online.wsj.com/article/SB10001424052748704388304575202532453275248.html?mod=WSJ_Real+Estate_LeftTopNews
Our new listings this week:
1. Light industrial building in Ketchum at 940 North Leadville on a 5500 sf parcel. This building, home of Walsworth Construction, is 2000 square feet with a very nice 600 SF office and a 300 SF shop. The remaining square footage is currently leased to Collard Greens for their office and design studio. Walsworth and Collard Greens will continue to lease the space for another year for approximately $2000 per month. The lot has terrific future development potential. $595,000
2. A three bedroom, one bath West Ketchum Condo with a remodeled interior and carport. $299,000
And one more thing:
I told my friend Judy that I would add a note about her commercial space available for lease on Sun Valley Road between Sotheby’s Realty and Smokey’s pizza. Anyone looking for a retail space with great exposure should consider this 1500 SF ground floor retail or office space that faces Sun Valley Road. She is offering the space for $1400 per month which includes all utilities. If you are interested or know someone who is please email Judy at ferriesjv@sunvalleynet.com and tell her I sent you.
Wishing you all a wonderful spring weekend!
Katherine, Rob Cronin and Rob Hogan
I believe this push to meet the tax credit deadline has been instrumental in our area seeing another good month of sales. Unofficial statistics for the month of April show that 47 properties went under contract and 47 closed. While half of these sales were under $400,000 we still saw six properties sell for over $1 million. Eight of the properties that went under contract were also over $1 Million. I’ll have official April statistics for you next Friday.
We have a few clients struggling to sell their properties before foreclosure. While short-sales are difficult and time-consuming, the following article explains why it is worth trying to sell your home short rather than face foreclosure. We have completed several successful short sales in the past year and if you find yourself in this position, please let us know if we can help.
Fannie Offers Spur to Avoid Foreclosure
Fannie Mae will make it easier for some struggling homeowners to buy houses in the future if they avoid foreclosure in the present.
Under rules released this month that will take effect in July, some troubled borrowers who give up their homes by voluntarily transferring ownership through a "deed in lieu of foreclosure" or by completing a short sale, where a home is sold for less than the amount owed, will be eligible in two years to apply for a new mortgage backed by Fannie.
Currently, borrowers who complete a deed-in-lieu of foreclosure must wait four years before they can take out a loan that Fannie is willing to purchase.
Read the full article at:
http://online.wsj.com/article/SB10001424052748704388304575202532453275248.html?mod=WSJ_Real+Estate_LeftTopNews
Our new listings this week:
1. Light industrial building in Ketchum at 940 North Leadville on a 5500 sf parcel. This building, home of Walsworth Construction, is 2000 square feet with a very nice 600 SF office and a 300 SF shop. The remaining square footage is currently leased to Collard Greens for their office and design studio. Walsworth and Collard Greens will continue to lease the space for another year for approximately $2000 per month. The lot has terrific future development potential. $595,000
2. A three bedroom, one bath West Ketchum Condo with a remodeled interior and carport. $299,000
And one more thing:
I told my friend Judy that I would add a note about her commercial space available for lease on Sun Valley Road between Sotheby’s Realty and Smokey’s pizza. Anyone looking for a retail space with great exposure should consider this 1500 SF ground floor retail or office space that faces Sun Valley Road. She is offering the space for $1400 per month which includes all utilities. If you are interested or know someone who is please email Judy at ferriesjv@sunvalleynet.com and tell her I sent you.
Wishing you all a wonderful spring weekend!
Katherine, Rob Cronin and Rob Hogan
Friday, April 23, 2010
Client Update 4/23/2010
Happy Friday!
After two days of wet weather it’s looking to be another beautiful weekend! Rob Cronin and I spent the morning touring two great new listings we will be bringing on the market soon. One is a very lovely 3 bedroom home located in the prestigious Riverview Estates neighborhood along the Bigwood River in Bellevue. This newer home is very well appointed with a lovely, western-style great room, a beautiful chef’s kitchen, and a cozy guest apartment over the garage.
The second is a more contemporary-style home designed by Dale Bates located on 360 acres off of Glendale Road. This gorgeous secluded property in the rolling hills above Glendale Road is already platted into three large lots and could possibly be subdivided further. It has a 2700 SF single level three bedroom home with an open and airy living room with concrete and in-laid wood floors and incredible southern views. Not included in that square footage is an attached indoor lap pool, a greenhouse, a basement with an artists studio and wine cellar, an additional 3-car garage and extensive decks and gardens. This is a very unique and special property.
Additionally we listed the 75 acre recreation property south of Bellevue with a 15 acre lake and two beautiful homes this week: a 4 bedroom, 5 bath builder’s home on Robinhood Drive in Hailey and a 3 bedroom, 3.5 bath Frenchman’s Townhome in Ketchum. If you would like further information on any of these properties please let us know.
We were pleased to hear this morning that the annexation of 138 acres of Sun Valley Resort property at the base of Bald Mountain's River Run was approved last night by the Ketchum City Council. We feel that this will not only bring an increased tax base to the city of Ketchum, but it will also give Sun Valley Resort more of a stake in the vitality of the town of Ketchum. Three cheers!
For those of you who have asked, the Golf Lodge I sent out information on last week has gone under contract.
April continues to be a strong month locally with 36 Pending Sales and 25 closings so far. I’ll send out more specific stats at the end of the month.
Wishing you all a wonderful weekend!
Katherine, Rob Cronin and Rob Hogan
After two days of wet weather it’s looking to be another beautiful weekend! Rob Cronin and I spent the morning touring two great new listings we will be bringing on the market soon. One is a very lovely 3 bedroom home located in the prestigious Riverview Estates neighborhood along the Bigwood River in Bellevue. This newer home is very well appointed with a lovely, western-style great room, a beautiful chef’s kitchen, and a cozy guest apartment over the garage.
The second is a more contemporary-style home designed by Dale Bates located on 360 acres off of Glendale Road. This gorgeous secluded property in the rolling hills above Glendale Road is already platted into three large lots and could possibly be subdivided further. It has a 2700 SF single level three bedroom home with an open and airy living room with concrete and in-laid wood floors and incredible southern views. Not included in that square footage is an attached indoor lap pool, a greenhouse, a basement with an artists studio and wine cellar, an additional 3-car garage and extensive decks and gardens. This is a very unique and special property.
Additionally we listed the 75 acre recreation property south of Bellevue with a 15 acre lake and two beautiful homes this week: a 4 bedroom, 5 bath builder’s home on Robinhood Drive in Hailey and a 3 bedroom, 3.5 bath Frenchman’s Townhome in Ketchum. If you would like further information on any of these properties please let us know.
We were pleased to hear this morning that the annexation of 138 acres of Sun Valley Resort property at the base of Bald Mountain's River Run was approved last night by the Ketchum City Council. We feel that this will not only bring an increased tax base to the city of Ketchum, but it will also give Sun Valley Resort more of a stake in the vitality of the town of Ketchum. Three cheers!
For those of you who have asked, the Golf Lodge I sent out information on last week has gone under contract.
April continues to be a strong month locally with 36 Pending Sales and 25 closings so far. I’ll send out more specific stats at the end of the month.
Wishing you all a wonderful weekend!
Katherine, Rob Cronin and Rob Hogan
Client Update, 4/16/2010
Dear Clients and Friends,
It’s going to be a gorgeous weekend to end the ski season. With sunshine and a high of 67 (yes, really!!) on Sunday I can’t imagine a better way to cruise into spring. And to top it off, everyone with any kind of ski pass at all will get to ski free on Sunday. Heck, we’re even taking our three-year old on Baldy for the first time. I hope to see many of you up there.
Rob Hogan and I had a meeting this morning with the attorney representing Chilali Lodge, a well-built 25-unit development located across from Ski Tech on Sun Valley Road. The bank recently foreclosed on the property and is now offering it for sale for $16.5 million. This is a project which cost $32 Million to build and $4.5 million for the land. It has a great rooftop deck with hot tubs, an outdoor BBQ and entertainment area, a fitness facility, underground parking, two community housing units and 24 remaining 2 and 3 bedroom homes, all completed with high-end finishes. (One was sold before the foreclosure). It would make a terrific condo-hotel, or units can be sold individually. A developer looking for a long-term investment should consider taking advantage of this situation. Please let us know if you would like more information.
Sellers: springtime is here and it’s a great time to spruce up the yard and exterior of your home to make it more appealing to buyers. A few ideas once the snow melts:
Rake up dead leaves, grass, pet waste and branches from the yard and decks
Plant flowers once the threat of frost has passed
Trim trees and bushes away from the house for a cleaner look
Put away shovels, toys and other outdoor items
Put out deck furniture
Move the for sale sign to a slightly different location and make sure it is firmly in the ground (if you need help with this please call us!)
Take down Christmas lights if you haven’t already
Lastly, if you're feeling really ambitious and want to clean the exterior of your house, look into a pressure washer. A pressure washer is usually powered by an electric or gas motor, and has an injection system that releases a special cleaning solution. Most have adjustable spray nozzles to tackle different tasks.
As you can probably tell I am full of spring fever and can’t wait to get outside and tackle a few projects myself this weekend.
Wishing you all a very happy Friday! As always, please call or email if we can help you with any of your real estate needs.
Katherine, Rob Cronin and Rob Hogan
Katherine Rixon
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
It’s going to be a gorgeous weekend to end the ski season. With sunshine and a high of 67 (yes, really!!) on Sunday I can’t imagine a better way to cruise into spring. And to top it off, everyone with any kind of ski pass at all will get to ski free on Sunday. Heck, we’re even taking our three-year old on Baldy for the first time. I hope to see many of you up there.
Rob Hogan and I had a meeting this morning with the attorney representing Chilali Lodge, a well-built 25-unit development located across from Ski Tech on Sun Valley Road. The bank recently foreclosed on the property and is now offering it for sale for $16.5 million. This is a project which cost $32 Million to build and $4.5 million for the land. It has a great rooftop deck with hot tubs, an outdoor BBQ and entertainment area, a fitness facility, underground parking, two community housing units and 24 remaining 2 and 3 bedroom homes, all completed with high-end finishes. (One was sold before the foreclosure). It would make a terrific condo-hotel, or units can be sold individually. A developer looking for a long-term investment should consider taking advantage of this situation. Please let us know if you would like more information.
Sellers: springtime is here and it’s a great time to spruce up the yard and exterior of your home to make it more appealing to buyers. A few ideas once the snow melts:
Rake up dead leaves, grass, pet waste and branches from the yard and decks
Plant flowers once the threat of frost has passed
Trim trees and bushes away from the house for a cleaner look
Put away shovels, toys and other outdoor items
Put out deck furniture
Move the for sale sign to a slightly different location and make sure it is firmly in the ground (if you need help with this please call us!)
Take down Christmas lights if you haven’t already
Lastly, if you're feeling really ambitious and want to clean the exterior of your house, look into a pressure washer. A pressure washer is usually powered by an electric or gas motor, and has an injection system that releases a special cleaning solution. Most have adjustable spray nozzles to tackle different tasks.
As you can probably tell I am full of spring fever and can’t wait to get outside and tackle a few projects myself this weekend.
Wishing you all a very happy Friday! As always, please call or email if we can help you with any of your real estate needs.
Katherine, Rob Cronin and Rob Hogan
Katherine Rixon
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
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