The entire west is struggling with warm and dry temps,
Hopefully, we will see a weather pattern change soon!
In the meantime, we can still use the trails and the crowds are low.
It was an active week for talking about the economy in the Wood River Valley.
The City of Ketchum held a special council meeting, and discussed short term rentals in the valley.
This is definitely a hot button topic,
As many residents believe short term rentals are reducing available housing for locals.
In short, the proposal to the city focused on;
1) Establishing permits for short term rentals.
This would ensure LOT taxes are collected and safety measures have been met.
2) Establish clear safety guidelines for rentals.
For example, no winter rentals in an avalanche overlay zone.
Complexes must also comply with fire safety measures,
There are several complexes in Ketchum identified as not meeting these currently.
You can see the details of the meeting here.
https://mccmeetingspublic.blob.core.usgovcloudapi.net/ketchid-meet-002291e5cbee41a9b267ba157fd063d7/ITEM-Attachment-001-7d2b16737aef4b4591de8f4c876e7523.pdf
Meanwhile, Visit Sun Valley and Sun Valley Economic Development held a two day conference.
They discussed many aspects of our economy and recent changes.
Much data has been collected on our population changes,
Where people are going and,
How properties are being used.
In the end,
They found short term rentals have a very small impact on our available housing.
Most short term rentals are second home properties,
Providing owners a way to generate some income when not in use.
Very few of our short term rentals are 100% investment properties.
For all the new listings this week:
https://www.woodriverproperties.com/your-sun-valley-real-estate-roundup/
