Archive for July, 2009

The 2nd Annual Tin Cup Challenge, hosted by the Teton Valley Community Foundation was an incredible success this year!  As of Saturday morning, more than $250,000 has been raised for local non-profit organizations!  Donations are accepted until July 24, 2009, so there’s still time!  If you would like to donate, follow this link!

Our sales associates, Alison Drumheller (with son Nicholas) and Mandy Rockefeller (with dog Isabella) took part in this wonderful community event and urge all who can donate in these tough economic times to give what you can.

Alison Drumheller and Mandy Rockefeller (with dog Isabella center) at the finish line of the Tin Cup Challenge 2009.

Yesterday, our Realtors Bill Fay, David Slivinski and Mandy Rockefeller had the opportunity to golf at Huntsman Springs.  This amazing course is located in the heart of Teton Valley, just west of the City of Driggs.  For more information regarding real estate opportunity in this development, contact your TVR agent.

Hole #7 Huntsman Springs - Teton Valley

If you haven’t already signed up for the Tin Cup Challenge, you need to!  A fun community event to raise money for many non-profit orgizations in Teton Valley.  If you just want to donate, there’s still time! Donations are accepted until July 24, 2009.  For more information, click here.

Definition: The net proceeds are insufficient to pay the outstanding balance of the secured debt. This is a good general definition but there is more to it.

The following should also be present:

• Seller cannot make up the deficiency at closing.

• All lien holders will take less than what they are owed and have agreed to release their lien hold interest.

• Power of acceptance lies with a 3rd party.

Oftentimes the “consideration” for the lien holder to take less than what they are owed is the lien holder has power of
acceptance of the contract.                                 – From the Snake River Regional MLS

What does this mean to a buyer? When writing an offer on a property, it will not be the Seller that will ulitmately respond and accept the offer; the lender will make the final decision.  One of the differences in the “nuts and bolts” of the buyer’s offer is that it will need to include the clause stating that the purchase is a short sale, and is subject to lender approval.

Don’t miss out on the great times with friends for this 4th of July weekend!  A full list of activities and events is available here.

While in Victor for the parade, please stop by some of our Open Houses:

30 Cedron Road #2, the Apple Wood Grove Townhomes from 10:00 am to 2:00 pm.

7872 Housetop Lane in Mountain Shadows from 11:00 am to 3:00 pm

Our Driggs Open Houses will be:

150 Valley Centre Drive from 11:00 am to 3:00 pm. (There are 12 townhomes that can be viewed)

Follow the TVR signs for some great deals!  Please feel free to contact the office for more information.