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.

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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


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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

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