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Real Estate Rebounds In The Wood River Valley
Wood River Valley, Idaho ( KMVT-TV / KSVT-TV ) New construction and major projects are helping the Wood River Valley rebound from the recession.
New air service with direct flights to and from some of the nation's brightest cities is taking the community to new heights.
"I think what this has created is an excitement amongst the community that housing is on the rebound, and if we can bring in some more people to enjoy our community, that we may have some new buyers," explains Robin Christensen, Sun Valley Board of Realtors President.
For the first time in seven years, realtors are starting to see a demand for new construction, and builders are responding.
The Streamside Project located in the county between Hailey and Ketchum is part of the exclusive Valley Club Golf Course.
"There are five homes currently either in the planning stages or under construction there, very exciting.... Hence the name Streamside; there's some new water features that give it its name," Christensen says.
Meanwhile, the Sun Valley Company plans to begin construction on 36 townhomes, just on the edge of White Cloud Golf Course.
"The townhomes range from 1.2 million to 5 million, depending on bedroom sizes," Christensen explains.
Short sales are down, which was sinking the market down for awhile.
"We were at 25-35% of our sales at one point, but now about 4% of our market are foreclosures and short sales and we really have cleaned those out pretty well," Christensen points out.
With an ever changing market in the Wood River Valley, it's imperative to find a local expert.
"Just because something is going up in Sun Valley, it doesn't mean it's going up in Warm Springs. It just depends on the market that you're in, the timing that you're trying to buy or sell in. Those are the important things to keep in mind. Contact a local agent with questions," Christensen says.
The realtors are heavily invested in Sun Valley Property News, a one stop shop for your real estate and lifestyle needs.
The magazine is also online for those living outside its distribution area at sunvalleypropertynews.com.