Sun Valley, Idaho

New Supermarket in Ketchum…Roxy’s!

roxys marketA 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!

Sell or Rent?

No one wants to sell their house at a loss, but in this economy, no one is coming out on top. What can one do? What many people don’t realize is that selling isn’t the be all, end all. An increasing number of homeowners are starting to rent their properties. But how do you know whether you should take the plunge and rent your house or stick with selling? Vera Gibbons from Real Estate on msnbc.com outlines the factors you must consider:

Crunch the numbers

Calculate your carrying costs: your mortgage payments, taxes and insurance. Compare that number to how much income your are expecting to receive from renting out your place. Would you come out ahead? Ideally, the rent should be at least 125 percent of your mortgage payments to make it a sensible option. Read the rest of this entry »

Hailey, Idaho 4th Of July Parade

4th of July Parade Hailey IdahoHailey’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.

Pretty Skies in Sun Valley!

double rainbow

Follow this awesome post-storm double rainbow to find your pot of gold here in Hailey!

New Listing…Golden Eagle Big Wood River Front Building Lot.

Golden Eagle Ranch Sun ValleyGolden Eagle.  One of Sun Valley’s most prestigious developments.  This is a rare opportunity to seize one of the last remaining Big Wood river front lots in the entire valley.  Perfectly located at the quiet southern end with excellent privacy and forested river access.   Impossible to duplicate combination of the finest valley homes in an exclusive setting with private access to an exceptional stretch of dry fly water.   Bank ownership makes this an exceptional value.   Listed for $900,000.  Hurry!

Friedman Memorial Airport Redevelopment. Great Opportunity?

friedman memorial redevelopment plan Hailey IdahoSo 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.

Done Deal…Elkhorn Springs

ekkhorn springs logoI’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 Read the rest of this entry »

Welcome Summer Intern Kate Brittingham.

KateSo I posted an ad in the  Sun Valley Online classifieds.  Looking for a summer intern who was interested in learning all about real estate in exchange for helping me with some of my work around the office.  I never really expected to get any response.  However, a few weeks later I received an email from a girl in Nigeria who said she would be in the valley for the summer and would be interested in the job.

My first reaction is she was posing as the niece of the Prince of the Federation of  Zumbajari and she needed to immediately transfer $14,000,000 into my account before hostile warlords raided her palace.  The African email scam deal you may have seen.   I was wrong.

Turns out she was really a high school student in Nigeria and her parents had a second home here in Hailey.  Right next door to my house, in fact.  I even knew her parents.  Her dad works in the oil industry, and they were actually living in Nigeria for his work.  Small world.  Even smaller valley.

Once she was back in town, we met and decided to Read the rest of this entry »

Done Deal…301 Industrial Park Way Bellevue

light Industrial commercial property in Sun ValleyLight industrial vacant land.  Not exactly a hot bed of activity in the local real estate market.  Not too many developers (read: none) are breaking ground on new speculative projects.  Even fewer owner/users are expanding or building new facilities for their business.

Which is exactly why my client got such a great deal when he purchased this lot.

Way out Glendale Road in southern Blaine County is a nice little light industrial park called the Brown Subdivision.  It’s near Webb Landscaping, Burks Excavation and Frankin Building Supply.  It used to be next to KD Excavation and Starheat Masonry but they have left (another story Read the rest of this entry »

Second Home Mortgage Interest Deduction?

Question:  Can a person deduct the mortgage interest on a second home or condo?

Answer:  In general, yes.  As long as the debt on the first home and the second home combined does not exceed $1,000,000.