Understanding Foreclosures and Resort Towns

Over 2.3 million foreclosures were reported for 2007 according to Realty Trac which puts that on a national average of 1% of every household to go into foreclosure. National lending institutes are now waiting almost 180 days prior to filing for foreclosure when a homeowner stops making payments, which is up from the previous 60 day grace period of years past. It is staggering to see the amount of public notices for trustee sales in the local papers even in small resort towns like McCall, Idaho.

In McCall, we see many of our foreclosures from builders or developers that are hanging onto too much inventory. For those that have been looking to buy property in McCall wonder if these are the times to be searching for some good deals and in some cases they are, particularly if the home is currently on the market.

The process on non-judical foreclosures can take up to 120 days which can give the Seller time to sell the property or recind the process. If the Seller is motivated to get it sold and the note on the property exceeds current market values, there is a strong chance that the lending institute may be willing to short sale the property.

Short Sales have been the latest buzz words around the real estate community and it is not referring to the time frame but that someone is getting "shorted" and generally it is means the lender. It is often during the foreclosure process that sellers and lenders agree to a short sale so that many of these properties can be sold prior to going to auction.

To lose your home in a foreclosure is not a process I would wish upon anyone, and I full heartedly support the Government for their continuing efforts to keep as many people in their homes as possible, however it is an opportunity for those that can afford it to find a good deal on a property.

There are also many aspects of a short sale or foreclosure that buyers need to be aware of, such as the property may have been sitting vacant for a long time and other items may be lingering on the title. If you would like to discuss short sale or foreclosures in more details and what is currently being offered in the McCall area, please don't hesitate to call or email.

Tis the Season for winter steelhead fishing

Only a short 45 minute drive from McCall, one can head down to Riggins Idaho for some fantastic winter steelhead fishing. On weekends, the banks of the Little Salmon River can be elbow to elbow with people trying to catch the big one. Winter steelhead fishing can be a hit or miss experience depending on the day. The fish are typically found in the slower currents and deeper areas of the Salmon River and depending on the day the water can be cloudy or clear with an average temperature around 40 degrees. It is a thrilling experience to pull up a 30-34" steelhead and a good reason why it draws quite the crowd during the winter months.

World Masters Coming to McCall, Idaho

The town of McCall is abuzz with the upcoming World Master's Cross Country Ski Race. Close to 1,300 skiers from all over the world will be coming to this small ski town resort to cross country ski on some of the best nordic trails in the west. And with the amount of snow we have received so far this winter, we will not lack for good ski conditions. Ponderosa State Park will be the host for this event and offers spectacular scenery along Payette Lake and tucked in some of the largest Ponderosa trees around. It also should be a fantastic race to watch, the amount of skiers alone will amaze you, let alone some of the dynamic sprint finishes and the nations duking it out at the relay. Go USA!