To say the Sun Valley real estate market is recovering is beginning to sound like an understatement. Rebound is quickly becoming a better term to describe our local market. Short sales and foreclosures in Ketchum and Sun Valley have all largely passed through the market. The few remaining distressed and bank owned properties in Hailey are selling like hot cakes. As our market shifts, lack of available inventory is quickly becoming our biggest issue. So what happens when you have lack of supply and high demand? Upward pressure on pricing, that’s what. Multiple competing offers on properties and buyers chomping at the bit in anticipation of new listings. That an increased demand for land and even, you guessed it, new construction which we are beginning to see in Hailey as well in the higher end markets in Ketchum and Sun Valley. It’s an exciting time to be in the business of real estate here in Sun Valley. We’ve weathered the storm of the recession, licked our wounds, learned our lessons, got stronger and smarter and we are ready to go to work for you as we spring ahead into what promises to be an incredible summer selling season here in Sun Valley. Ready to get started?
How Cool is Sun Valley! Here’s a shot of a huge moose that was hanging out in my backyard this week end snacking on some branches while I sipped coffee in the family room. Be sure to take advantage of the incredible buyers market we are experiencing and you too can have a moose in your Sun Valley backyard. Or an elk, deer, fox, bear…
Bill Gates? Oprah? Probably, and with the annual Allen and Company event in Sun Valley there are many more corporate celebrities on hand. Each year the investment banking firm Allen and Company from New York holds this summit of the best minds in the media and technology sectors to share thoughts and ideas. Right here at the Sun Valley Resort. Behind closed doors, high profile meetings and conversations take place that shape the future of media and technology as we know it. Some of this years attendee’s include: Bill Gates billionaire founder of Microsoft, Oprah Winfrey, Warren Buffett billionaire investor, Rupert Murdoch News Corp media mogul, Mark Zuckerberg founder of Facebook, Tom Brokaw, New York Mayor Michael Bloomberg, Harvey Weinstein of Mirimax Films, Walt Disney CEO Robert Iger. And many more. For about 4 days Friedman Memorial Airport looks like LaGuardia with corporate jets stacked ten deep waiting to pick up and drop off their high profile passengers. This event has come to represent a highly anticipated and appreciated event by bringing a ton of national media attention and exposure for Sun Valley. Plus, the CEO’s are invited to bring along family members who provide a huge financial shot in the arm for local businesses. Hop in your jet and come see us next year.
A big welcome to the latest addition here in Sun Valley: Roxy’s Market, a grocery/deli in Ketchum, which replaced Williams Market. The market, which opened on June 1st, has a “contemporary feel.” It is a “high-tech, warehouse industrial” building, which sells products that you could find in many health-food stores as well as natural and organic body products. Welcome to Sun Valley, Roxy’s!
Hailey’s 4th of July Parade – Celebrating 130 Years of History! In 2011, Hailey celebrates 130 years of its history, which is the theme of Hailey’s Independence Day parade. Join the Hailey Chamber and the community in the celebration of the Independence Day, experience the western spirit of Hailey and be in the parade! What better way to advertise your business, celebrate family or class reunion! Registration deadline is Friday, July 1st, 12:00 noon. Go to www.haileyidaho.com to register on-line, or stop by the Hailey Chamber at 706 S. Main (formerly Hailey Medical Clinic) and pick up the application form. The parade fee is $45. For more information, please call 788-3484.
Follow this awesome post-storm double rainbow to find your pot of gold here in Hailey!
So what do you do with a former airport site in a small resort town? Redevelop, of course. Here are a few of the ideas the power’s that be including the City of Hailey have proposed as part of the master planned redevelopment. Hotel and conference center. Fitness Center. Below grade trail connectors between the redevelopment and existing neighborhoods like Woodside. Residential and Multi-Family housing units. R & D Campus (INEL, for instance). Institutional Campus or extension (University of Idaho? Boise State? BYU Sun Valley?). Corporate Campus? R&D/Corporate Campus. Large Format Retail. The only use category that received any negative feedback by the public and city officials was the large format retail. Home Depot, Costco and Target don’t seem to sit well with a lot of locals. I don’t think most of the big box retailers would chose to locate here anyway since we don’t have the population base to support a store of that size.
I’m not kidding. The bank owned Elkhorn Springs condo’s are the best deal in the valley. I just closed on one and there are only a few of them left They have been selling like hot cakes. Why? Because they are priced very well, have very high end finishes and the Elkhorn Springs complex offers a very nice package to condo buyers. Most of the units we’re completed in 2007 and 2008. The property consists of four buildings. Creekside Terrace North and South and Hillside Terrance North and South. Each unit in each building has to be seen to be appreciated. Every unit has a unique and interesting view, deck configuration and sun orientation. Definitely not a cookie cuter project. The price per foot of these units is exceptional and most are being offered for less than replacement cost. There is just nothing else that comes close as far as pricing value. The homeowner association fees are higher that other comparable units but they are structured differently. At Elkhorn Springs, the association dues include most of the services including