Wednesday April 8th 2009
For the 1st Quarter residential sales had a significant increase! Through April 8, 2009 there are 34 sold properties vs 25 for the comparable period in 2008, for a 36% increase. Driving this increase – many buyers came into the McCall market pursuing short sale and bank owned properties. Additionally, price reductions on non-distressed properties combined with attractive interest rates increased buyer interest and sales of McCall real estate.
22 of the 34 solds (65%) were under $300,000. Banks are discounting prices on properties in short sale, relative to outstanding debt – in the 20-30 % range based on published sales. A natural positive affect of the absorption of distressed properties is that the new owners will almost always display an improved pride of ownership.
In the luxury home market the discounts have been extreme as available buyers are scarce. Four luxury homes sold in the Whitetail development with discounts ranging from 45-54% of original list price. One Payette lakefront home sold in the first quarter at a discount of 43% from the original listed price. These sales represent unique circumstances of seller motivation in the McCall real estate market for single family homes and Payette Lake homes.
Meanwhile, sales of McCall area land and lots were sluggish year to date in 2009. On a positive note – as lot and land prices in McCall have declined – as well as costs of labor and building materials – we may see more McCall area buyers opt to buy a building lot or land for future construction rather than purchase an existing home.
Below is the Residential First Quarter 2009 detailed report link
mccall-residential-1stquarter2009-report
Below is the Land and Lots 1st quarter 2009 detailed report link
landandlots1stqtr2009
Baby Boomers and Skiing! Source: National Ski Areas Association
The ski industry around the country is responding to a new demographic that is hitting the slopes in record numbers. Baby Boomers, part of the generation that first propelled skiing into the mainstream popularity in the United States, are staying on the slopes for far longer and in greater numbers than anyone imagined possible a decade ago.
According to an annual study conducted by the National Ski Area’s Association, the percentage of people on the slopes between ages 54-64 has more than doubled to 9.2 percent since the 1997-98 ski season. The trend bodes well for real estate markets near ski areas and in cities within easy reach of slopes. Many Boomers are looking for second homes within “Ski Range” according to the association.
Here is a link to the article
http://www.nsaa.org/nsaa/press/0809/demo-2008.asp
