Very cool. The Sun Valley Board of Realtors (formerly the Sawtooth Board of Realtors) has set up a discussion board on their Facebook page. If you have a rental or are looking for a rental this is the place for you. You can post your “have/want” ads there and let the magic happen. Check out the site by clicking here.
The rental market is quite active these days and I am seeing some great offerings, both for short term and long term rentals. Check it out and try before you buy.
The College of Southern Idaho (CSI) in Hailey will be offering a non-credit home buyer’s education course called Finally Home, on April 12 and 19 from 6-10pm. The course is designed for first-time buyers and addresses some of the issues potential homeowners face in the process of purchasing a home. The cost to register for this 8-hour 2-part class is $20 and students can register at www.communityed.csi.edu or by calling 732-6442. Class size is limited so check it out quickly if you are interested. Knowledge is good.
2006 prices don’t matter anymore. It doesn’t matter that it was listed for $750,000 in 2006. Today it’s just not worth that anymore and market value for the same property is probably more like $550,000.
Using 2006 values as a sales pitch to show how much the property has been discounted isn’t worthwhile anymore, either. “Prices slashed 65% from original list price” just tells me how over inflated the price was back then, not what it’s worth today.
The sooner we can let go of 2006, and put it in the real estate rear view mirror, the sooner we can get back to a healthy market.
Here are the local population numbers for 2010 from the Census Bureau:
Bellevue: 2,287, up 411 people from 2000, a 21.9 percent increase.
Carey: 604, up 91 people since 2000, a 17.7 percent increase.
Hailey: 7,960, up 1,760 since 2000, a 28.4 percent increase.
Ketchum: 2,689, down 314 since 2000, a 10.5 percent decrease.
Sun Valley: 1,406, down 21 since 200, a 1.5 percent decrease.
Here is an opportunity to lease or own an increasingly rare prime piece of Main Street frontage in Hailey. This property offers excellent signage and identity for both retail and office users.
There is ample on site parking in the front and rear of the property. Currently the building is laid out for two tenants with a 2,700 square foot and 1,900 square foot spaces available. The spaces consists of large open areas with perimeter offices. Immediate occupancy with aggressive leasing plans and incentives available.
This is a great owner user opportunity for either 100% occupancy or to lease balance to a co-tenant to generate rental income. Strong upside potential for investors, too, through leasing to new tenants. With 90′ of Main Street frontage, ample on-site parking in front and rear of building make this an attractive option for general office use, medical or general retail users. Let’s make a deal!
BTVAI. That stands for Buyer To Verify All Information. Just because a listing on the MLS says a property is 4,200 Square Feet, doesn’t mean it actually is.
Nobody is trying to pull the wool over our eyes, its just that there is different information floating around that agents use to post the property details.
Perfect example. I am working on selling a nice house to a buyer client. The listing agent had a set of building plans that showed a floor plan with 4,200 square feet and that’s where he came up with the number. Seems reasonable. We find a set of plans in the garage that show 3,500 square feet.
Turns out the set of plans the listing agent had was an architectural progress set that showed a large additional room that was never actually incorporated into the final “as-built” plans. The set we found was accurate and ended up being the square footage on which we based our offering price.
No harm, no foul. It’s just a good thing we Read the rest of this entry »
Today Barons Magazine rates Sun Valley, Idaho as one of the countries best places for second homes.
Market trends indicate the real estate rebound is firmly in place. The rich customer base has dusted themselves off and have resumed some serious discretionary spending. The market trends for luxury vacation properties, the greatest indulgence of all, are back, baby.
Prices for the winners of Baron’s top places have rebounded, dramatically in some cases. The time may well have come for you to jump into the market. I think I might have mentioned this a while ago in my post back in December called Pigs Get Fat, Hogs Get Slaughtered. Check it out.
Some of our elite company included Maui, The Hamptons, Martha’s Vineyard, Deer Valley, Palm Beach and Pebble Beach. A nice crowd.
Here’s what they had to say about Sun Valley:
“If you happen to be a media mogul, you already know about this place thanks to the annual high octane confabs put on by Allen and Company.”
“The skiing, of course, is Read the rest of this entry »
A few weeks ago I saw a video with the CEO of Vail Resorts. He was talking about marketing and advertising for their family of resorts.
Going into next year, their primary means of advertising will be through Facebook, other social media, online and video advertising . This includes eliminating or severely cutting print and other traditional advertising mediums. That’s amazing.
Not only will this be a dramatic cost savings which is necessary in today’s cost cutting environment, but it seems they think these new tools will be more effective than traditional advertising. Plus, it allows the resorts to adapt more quickly to rapidly shifting economies and market conditions to tailor their marketing to a weekly or even daily basis.
I think this is pretty much the way of real estate advertising and marketing, too. Particularly in Sun Valley where the vast majority of our customer base lives out of the area. They search online. They are looking for authentic, Read the rest of this entry »
It is becoming more and more evident, both with Sun Valley properties as well as with national real estate, that we have hit “the bottom of the market.” This is what everyone has been asking about. Wondering if we are there there yet?
So if we are there and even if we aren’t quite there yet, we need to stop and consider other factors that make up a deal. Interest rates, for example.
Interest rates on properties are at an all time low. So if a buyer continues to wait around for the bottom, and interest rates increase, he could be shooting himself in the foot. In other words, rates are as important Read the rest of this entry »
Everybody knows Sun Valley as a classic and traditional four season family resort, right? At least that’s what we’ve been known for in the past. But what is Sun Valley now? What does Sun Valley need to be? Where are we heading? All good questions.
Most recently there has been a lot of shake up with the long range planning. marketing and promotion of Sun Valley. We’ve seen consolidation and restructuring of the Chamber of Commerce and Visitors Bureau, creation of new marketing alliances between Sun Valley and Ketchum and the hiring of a new advertising agency to represent the Sun Valley Company. All with one goal in mind. To increase demand for Sun Valley.
So how to increase demand for Sun Valley?
From a marketing perspective it will require cooperation and coordination between the Sun Valley Company and the cities of Ketchum and Sun Valley. Joining forces to create one cohesive brand for the area through shared efforts. But the actual marketing is the back end effort used to attract the end user.
The end user, the visitor, is what really Read the rest of this entry »