Here is a pretty interesting article from a mortgage broker in Boise, named Shanna Wroten-Tucker. If you want to give her a call here is her contact information and bio. Enjoy this guest article:
Is it better to give my house back to the bank or short-sale it? As a mortgage professional, I hear this question all the time from real estate agents and frightened homeowners.
I have to preface this article by stating that loan guidelines and credit scoring algorithms change frequently… please bear in mind, what’s true today might be different tomorrow. Adding to the confusion is the fact that many lenders impose more restrictive guidelines than those referenced below. Having said that, here is a basic guide for those facing short-sale or foreclosure:
Short Sales and Short Refinances
When a bank agrees to settle for less than the full amount owed on a loan, otherwise known as a “short sale” or a “short refinance” it will typically Read the rest of this entry »
The Sun Valley Summer Symphony is coming up soon! Each year, the Summer Symphony kicks off with a benefit concert (tickets $50-$500) and then the rest of the symphony concerts are completely free of charge. This year’s benefit is ‘Dream With Me’ with Jackie Evancho, winner of America’s Got Talent. The Symphony will be featuring pianists Jean-Yves Thibaudet, Yefim Bronfman and Kevin Murphy, singers Lara Nie and Heidi Grant Murphy, and violinist Vadim Gluzman among many other talented musicians.
All concerts are located at the Sun Valley Pavillion, and cater to every want: for a fancier, dressier experience there is seating inside the pavillion, but for a more family-friendly, casual experience, you can bring your picnic, sit on the lawn and watch the concert on the giant LED screen.
The Summer Symphony is a great experience, even if you only go to one concert or if you attend them all. Hope to see you there!
Go to http://www.svsummersymphony.org/ for more information and to buy tickets.
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!
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’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!
Golden 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!
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 Read the rest of this entry »
So 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 »