Asset manager wants to sell prior to going to auction – huge price drop now in effect. Great mid-valley location on a 1.19 acre lot, nestled in the mature trees in zinc spur. This sprawling 5br/2.5 bath home with 2,648 main floor square feet and an attached 2 car garage. High ceilings, a fireplace and lots of windows add to the charm of the home. This one has space for everyone! You can add your own touches to this potential stunner.
Just a few of the activities now in full swing for the holidays in Sun Valley Idaho
Home buyers unable to find a home earlier this year are taking to the market this winter despite the colder weather and limited inventory, according to realtor.com’s Winter Home Buyer Report.
More than 1,300 people looking to buy a home during the winter months told realtor.com that lingering conditions from the past home-buying season, including inventory challenges and all-cash offers, continue to set the tone for them as they enter the winter season.
“This summer and spring home-buying season was particularly challenging for buyers, especially first-time home buyers trying to compete with all-cash offers and bidding wars because of reduced inventory,” said Alison Schwartz, vice president of corporate communications at realtor.com. “In fact, a quarter of the winter home buyers revealed they are in the market now because they were unable to find a home during this last home-buying season.”
While the majority of winter home buyers describe themselves as relocation buyers, downsizers are also a large portion of those looking to buy a house in the next four months, according to the report.
There are advantages to looking for a home in the winter, Schwartz said.
“Motivated sellers, better prices and less competition between buyers are some of the top reasons winter home buyers are interested in purchasing a home during the colder months of the year,” she said.
Here are more highlights from the Winter Home Buyer Report:
Biggest challenges when searching for a home during winter:
- 45 percent of respondents said there is not enough inventory within price range;
- 34 percent said there is not enough inventory on the market;
- 29 percent said winter weather makes house hunting unpleasant;
- 7 percent said there are too many buyers in the market.
Top reasons consumers are looking to buy a home in winter:
- 26 percent of respondents said sellers are more motivated to sell and willing to negotiate;
- 24 percent said they think home prices will be better;
- 24 percent said they were unable to buy a house during spring or summer;
- 20 percent said they think there will be less competition between buyers.
The current purchase status of those surveyed includes the following:
- 28 percent of respondents said they are relocation buyers;
- 19 percent said they are existing homeowners downsizing to a smaller or less expensive home;
- 19 percent said they are first-time home buyers;
- 15 percent said they are current homeowners moving up to a bigger or more expensive home.
Amount of cash winter home buyers are planning to use for their down payment:
- 13 percent of buyers are planning to put down 3.5 percent cash (United States Federal Housing Administration loan);
- 23 percent are planning to put down 10 to 20 percent cash;
- 22 percent are planning to put down 21 to 99 percent cash;
- 19 percent are planning to put down 100 percent cash.
Of those planning to use all cash, the respondents fall into the following categories:
- 29 percent of respondents are downsizing to a smaller or less expensive home;
- 26 percent are relocation buyers;
- 11 percent are moving up to a bigger or more expensive home;
- 11 percent are buying a vacation home.
Source: National Association of Realtors
Sun Valley’s 78th ski season is now underway with skiing and riding on Baldy and Dollar. New terrain will open as conditions permit. Dollar Mountain will remain open through December 1st, then re-open for the season on December 14th. With the holiday season upon us, the Sun Valley Village will be alive with winter activities, shopping and special dining options. For updated snow conditions call 800-635-4150 or go to the Sun Valley mountain reports page.
It’s time to start gearing up for ski season as opening day is just around the corner.
The Sun Valley Nordic & Snowshoe Center is located at the 58,000 square-foot Sun Valley Club in the backyard of the world famous Sun Valley Lodge. This stunning facility features a restaurant, lounge, bar and locker rooms, along with equipment repair, rental and storage. Indoor virtual golf also adds to the list of extras.
Nordic Skiers’ Shangri-La
You will experience some of the best cross-country skiing in America, with unmatched trail quality, training programs, clinics, rentals and state of the art Clubhouse for skiers of all levels. With over 40km of trails groomed daily for skate and classic skiing, the Sun Valley Nordic & Snowshoe Center provides the ultimate experience. Gentle terrain morphs into challenging hills as the trail network leaves the Sun Valley Club. At 6000 feet, our trail system maintains consistent conditions without leaving you gasping for air. Top off your day of skiing or snowshoeing with a delicious lunch or hot beverage served daily at the Sun Valley Club.
Snowshoe Fun in the Sun
Get off the skis and try something different this season. Meandering through the stunning terrain surrounding the Nordic & Snowshoe Center our snowshoe trails provide your whole family a fun, unique and inexpensive winter sport experience. Snowshoe equipment for all ages is available for rent at the Sun Valley Nordic & Snowshoe Center.
Sun Valley Nordic & Snowshoe Center: (208) 622-2250
Located in the Sun Valley Club just 1/2 mile east of the Sun Valley Lodge.
Call (208) 622-2250 for more event information
Download Nordic brochure including new location info & trail map!
Existing-home prices are continuing to edge up across the country, but sales aren’t keeping pace. Here are five key indicators for the housing market from the National Association of REALTORS® ‘latest existing-homes report, which reflects September data:
- Home prices: The median price nationally for an existing home in September was $199,200, up 11.7 percent from a year ago. Home prices have had 10 consecutive months of double-digit year-over-year increases.
- Home sales: Sales of existing single-family homes dropped 1.5 percent in September to a seasonally adjusted annual rate of 4.68 million. However, sales remain 10.9 percent above year-ago levels. Meanwhile, existing condo and co-op sales dropped 4.7 percent in September but are 8.9 percent above year-ago levels.
- Distressed homes: Foreclosures and short sales accounted for 14 percent of September sales. That’s up from 12 percent in August. A year ago, distressed home sales made up 24 percent of the market. “Lower levels in the share of distressed sales account for some of the growth in median prices,” NAR notes. In September, foreclosures were sold at an average discount of 16 percent below market value; short sales were being discounted by an average of 12 percent.
- Inventory: Housing inventory in September held steady, with a 5-month supply at the current sales pace. NAR’s report shows that 2.21 million existing homes were available for sale in September. For-sale inventory is 1.8 percent higher than a year ago.
- Days on the market: The median time on the market for all homes was 50 days in September, up from 43 days in August but down from 70 days a year ago. Short sales were on the market for a median of 93 days in September; foreclosures were at 43 days. NAR notes that 39 percent of homes sold in less than a month in September.
SOURCE: Realtor Mag.
Builders are increasingly retaining the mineral rights to homes they sell, according to a recent investigation by Reuters of county property records in 25 states. That means that while home owners own their homes from the ground up, the builders lay claim to what’s beneath the home, such as oil, natural gas, water, or other natural resources.
Home owners are often unaware that builders have retained mineral rights and are displeased when they learn that they don’t own the ground under their feet, Reuters reports. “Many worry about the potential health and environmental effects of fracking,” Reuters reports.
“This is a huge case of buyer beware,” says Lloyd Burton, professor of law and public policy at the University of Colorado-Denver. “People who move into suburban areas are really clueless about this, and the states don’t exactly go out of their way to let people know.”
In most states, sellers aren’t legally required to disclose to home buyers whether they are losing the mineral rights to a property, Reuters reports. Sometimes builders may flag it in sales contracts or deeds, but not all buyers review the paperwork closely.
Reuters’ investigation uncovered numerous builders engaged in the practice of retaining the mineral rights on homes, such as D.R. Horton, Ryland Group, Pulte Homes, and Beazer Homes.
Why do builders want to keep the mineral rights to a home? “The phenomenon is rooted in recent advances in extracting oil and gas from shale formations deep in the earth, fueling the biggest energy boom in modern U.S. history,” Reuters reports. “Horizontal drilling and the controversial practice of hydraulic fracturing, or ‘fracking,’ have opened vast swaths of the continental United States to exploration.” By keeping the mineral rights, builders stand to make a financial gain if “energy companies come calling,” Reuters reports.
SOURCE: Realtor Magazine
Live and work in scenic Mackay, Idaho. The White Knob Motel and RV Park features 28 full RV hookups with 30 amp power, water, laundry and shower facilities.
For those who don’t like to “rough it” as much, there are 7 quaint motel rooms, some with kitchenettes.
The property sports the only pool in town with its own pool house with showers. This property is on over 10 acres, with room to expand.
Owner’s house is very comfortable and contains the office for the business and a 3 car garage. Extra large metal storage building for that extra overflow of equipment. Beautiful grounds off of the highway with scenic views.
Close to all the recreation Idaho’s Lost River Range has to offer.