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
Friday, April 30, 2010
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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