Montage Deer Valley Residences
January 28th, 2010 Categories: Park City
Exploring Montage Deer Valley Residences: How To Eat An Elephant (Part 2)…
The Deer Valley Montage is too spectacular & complex to summarize in one quick post. So, over the next few weeks, we will help you digest the Deer Valley Montage residences one bite at a time!
In our last Montage post you learned that the Montage Deer Valley will contain 174 luxury hotel rooms and 81 private residences.
Montage Furnished Condos vs. Unfurnished Montage Residences
The luxury hotel rooms will be retained by the developer. So from here on, we’ll focus on the 81 residences in the Montage Deer Valley.
There are dozens of floor-plans to choose from, which makes the exploration of the Deer Valley Montage a fun adventure! Keeping it simple…
The Deer Valley Montage contains two different types of residences–furnished and unfurnished.
Furnished Deer Valley Montage Residences
Forty-nine of the eighty-one residences in the Deer Valley Montage will be furnished condos.
Furnished Montage Deer Valley condos will range in size from roughly 1,200 to 3,300 square feet, and are located on the 8th and 9th floors of the hotel.
And just so you know…it’s NOT typical hotel furniture.
These luxurious properties will be fully furnished and appointed to Montage’s Five-Star standards. Think estate-quality furnishings and fabrics, custom furniture, hand-made rugs, local art, etc.
Depending on the unit size, the Montage Deer Valley furnishings could cost a few hundred thousand dollars if you were to go out and source these items yourselves. So, when you’re comparing prices of furnished vs. unfurnished units, don’t under-estimate the value that’s included with the furnished units.
Most of the furnished condos are three bedroom configurations, with a handful of 4 bedroom properties available if you want a little extra space.
There are only 2 one-bedroom furnished condos in the building, and about a dozen furnished two bedroom condos. That’s it for small units. How’s that for scarcity?
Limited supply of these smaller Montage condos suggests that these could be some of the best investment condos in the hotel due to their scarcity and comparatively lower prices.
If you are interested in one of these smaller furnished Montage Deer Valley residences, we recommend that you contact us immediately…
Unfurnished Montage Deer Valley Residences & Penthouses
If you don’t want to put your Deer Valley Montage residence in the hotel rental pool, or if you would like to create a custom interior in your residence, one of the 32 unfurnished Montage residences may be just what you’re looking for.
Some of the unfurnished Montage residences are two-story designs, which makes the residences live more like luxury homes than ski condos.
A few of the Montage residences are “thru-units” that span the entire width of the building!
These rare units offer views up towards the Daly Chutes on the south side of the building, and down Daly Canyon over Old Town Park City on the north side of the building!
These thru-units offer incredible natural light during the daytime, and seductive night-time views looking over the twinkling lights of Park City once the sun sets…
Like the furnished condos on the lower floors, the unfurnished residences are mostly larger units. In fact, there is only one 2-bedroom unfurnished residence available in the entire Deer Valley Montage.
Most of the unfurnished Deer Valley Montage floor plans are 3 and 4 bedroom suites, many of which have additional dens/media rooms, and balconies that add outdoor living area to the gorgeous interior living spaces.
“Secret Montage Model” Demolished!
To say that Montage is fastidious about their interior finish selections is an under-statement! Here’s why we say that…
They built a “model” of a Montage luxury hotel room in a secret warehouse in Salt Lake City last year. Then they proceeded to tear it apart and rebuild it about a dozen times in the pursuit of perfection of the finest interior finishes and details. How often do you see that level of attention to detail?
Sorry…we can’t publish photos of the Montage Deer Valley interiors. We were asked not to publish any interior photos, so we will respect that request until the developer is ready.
There may be another model unit under construction somewhere, but we can’t risk speculation about where or when it may be unveiled. However…
When you come to Deer Valley and ask us to arrange a time to explore the Montage Deer Valley, you WILL get to see what a finished unit looks like, thanks to some cool online virtual tours and other exploration options!
Montage Deer Valley “First Tracks”
The developer is about to release details about their ‘First Tracks’ program, which will included incentives available only to a limited number of initial buyers. To be notified as soon as details of “First Tracks” are released, please complete the form below:
Related Articles:
Montage Deer Valley Condos For Sale Soon
Montage Deer Valley Under Construction
Montage Deer Valley Amenities
Notice:
Park City Real Estate Guide® is neither the listing broker for the project, nor are we affiliated with the developer or construction company of the Montage Deer Valley. We are providing you with this preliminary information as a courtesy only, so that our readers may seize the opportunity to beat other interested buyers to the most desirable units at the lowest possible prices. All information contained in this post is subject to change.
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Montage Deer Valley Condos and Residences For Sale Soon!
January 26th, 2010 Categories: Deer Valley®, Hotels & Lodging, Park City, Real Estate
Montage Deer Valley is poised to offer their first residences for sale in February, 2010.
Now that the Silver Strike Deer Valley condo auction has run it’s course…
Deer Valley real estate watchers can shift their attention from the least expensive properties available in Empire Pass to what could be the most-desirable (location, amenities, views, quality) new condos ever released in Deer Valley.
This is the first of a series of articles we will share about the Montage over the next few weeks as we count down the days until the first units are available. Feel free to hang around and get the details a few at a time, or contact us immediately if you know you are interested and we’ll throw you on the fast track!
We took a hard hat tour of the property with members of the development team a couple of weeks ago, and the Montage is now beginning to trickle some preliminary information about Montage Residences.
Montage Deer Valley Construction Progress
While they have been very quiet on the marketing front…
The Montage construction site is bustling with activity like an ant hill. Did you know there have been 800-1,000+ workers on site every day racing to meet the deadline for the opening of the 2010/11 ski season?
The developer will retain 174 luxury guest rooms and suites on the lower 7 floors floors of the hotel.
The upper six floors of the Montage Deer Valley will be home to 81 private Montage residences.
Montage Residences
The Deer Valley Montage is an architectural masterpiece. Not just because of its impressive size–but also because of its complexity. There are more than 50 different floor-plans among the 81 residences!!!
Owners of Montage Residences will delight in owning something truly unique…not just a cookie cutter replica of the unit above and below yours.
Deer Valley Montage Floor Plans
Montage Deer Valley Location
Montage Deer Valley Location
It sounds like a chore to sort through all 50+ floor plans, but it’s easier than it sounds.
We guarantee your enthusiasm for the property will grow as you begin to appreciate the incredible amount of thought and detail that has gone into the planning and design of the Montage Deer Valley.
Our recent tour gave us a good feel for the assorted locations within the building. Once you begin the exercise, it’s just not that hard to narrow your choices.
Residences in the Deer Valley Montage will be offered in phases, and the developer will offer a representative cross section of units with different views, floor-plans, and sizes in each release.
Important Deer Valley Montage considerations:
- Furnished or unfurnished?
- How many bedrooms?
- Want to rent your Montage residence or not?
- Views up the ski mountain or down-valley views?
- Thru-views?
- Amenity acces within the building (close to owners lounge, restaurants, etc…)
- Morning or afternoon sun?
Montage “First Tracks” program to be announced soon!
If you would like details about the Montage “First Tracks” program, including specific units available and incentives for being a pioneer in the project, please complete the form below…
Related Montage Deer Valley Articles:
Montage Deer Valley Residences
Montage Deer Valley Condos Under Construction
Notice:
Park City Real Estate Guide® is neither the listing broker for the project, nor are we an affiliate of the developer or construction company of the Montage. We are providing you with this preliminary information as a courtesy only, so that our readers may seize the opportunity to beat other interested buyers to the most desirable units at the lowest possible prices. All information contained in this post is subject to change.
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More Deer Valley Condos–At Auction-Level Prices!!!
January 21st, 2010 Categories: Deer Valley®, Park City, Real Estate
Missed the Deer Valley Condo Auction?
After this post, we’ll give the whole auction topic a rest…there’s some other exciting Deer Valley, Utah real estate news around the corner that we’ll share later this week! (Hint: it involves first-tracks incentives on Deer Valley’s most exclusive property…)
But before we turn the page on the auction, there’s something you should know…
More Deer Valley Condos Available for ~40% off!!!
The developers of Silver Strike Lodge listened to what the auction bidders said the homes were worth, and they are now willing to blow out a few more of their unsold condos at auction-level prices! So, if you weren’t inclined to make a trip out here and get in a bidding war for the original 8 auction condos, you didn’t miss out entirely.
Six…now five (one just went under contract to one of our Park City Real Estate Guide subscribers as I’m writing this post!)…new condos available at near auction-level prices.
Silver Strike Deer Valley Condo Post-Auction Release
But wait–here’s the catch…
New Silver Strike Prices are Firm
Don’t bother trying to make an offer for less than the prices you see above.
Your less-than-full-price “offer” WILL get rejected by the bank…it happened to a couple of buyers yesterday. Here’s the problem with the low-ball offer strategy in this particular case: you run the risk of another buyer grabbing one of these bargain-priced properties out from underneath you…just like our client did to another buyer whose greed cost them a great deal!!!
Which Units Are the Best Silver Strike Condos Available Today?
We toured the available 6 units yesterday afternoon, so we can help you quickly and easily understand locations, floor-plans, views, etc…
Just send us an email to our Silver Strike Email Address–we’ll get it on our Blackberries and we’ll be right back in touch to answer whatever questions you have…
If your interest is so pressing that you NEED to speak with us right away, go ahead and call our toll-free numbers: 1-877-838-2805 or 1-800-485-0218. They are forwarded to our mobile phones today…
Related Articles:
Silver Strike Auction Results
Deer Valley Condo Auction Details: Silver Strike Lodge
Silver Strike Lodge Deer Valley Condos Overview
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Deer Valley Condo Auction Results
January 18th, 2010 Categories: Deer Valley®, Park City, Real Estate
No more need to speculate…
Buyers Say Deer Valley Condo Auction Was a Success!
The Silver Strike Lodge Deer Valley condo auction took place at Stein Eriksen Lodge last night, and the developer successfully contracted for the sale of all eight ski-in/ski-out Deer Valley condos as planned.
Over 100 registrants were present at the auction, and about 25 bidders competed with one another to grab the available properties.
No doubt the developer would have liked to have seen the winning bids be higher…
Winning Bids for Silver Strike Deer Valley Condos
Winning bid prices ranged from 10.8% to 26.2% above minimum bid prices…or 41% to 45% below the original list prices for the condos.
In our opinion, the winning bidders locked in some great prices on luxurious ski-in/ski-out Deer Valley condos at the auction. Since the average sales price per square foot for condos in Empire Pass over the past few years is $992 per square foot, the winning bidders who paid between $734 and $776 did grab some good deals!
Looking at the history of Deer Valley condo sales over the past few years, average condo sales prices are typically within 90% of list prices, even during the tough economy in 2008 and 2009:
Silver Strike Deer Valley Condo Buyers Will Close Soon
Having completed their due diligence prior to bidding at the auction, winning bidders have placed 10% non-refundable earnest money deposits into escrow, and they now have 30 days to close on the sale of the condos.
Deer Valley Condo Market Post Auction: Where Do We Go From Here?
Sales prices of the auctioned condos will be disclosed across the Park City MLS for use by local appraisers, real estate agents, and prospective buyers and sellers. It will be interesting to see how owners and developers of neighboring properties react to the auction.
Other Empire Pass condo owners have already dropped their prices significantly:
Empire Pass Price Reductions
It is safe to assume that today’s Deer Valley condo buyers will be able to negotiate significant discounts in the months ahead.
We’re seeing occasional bank-owned properties and other motivated sellers, even in ski-in/ski-out locations where most owners have significant staying power.
Want Updates About Distress-Price Opportunities in Park City & Deer Valley?
Related Articles:
6 More Silver Strike Condos Released at Near-Auction Prices!!!
St. Regis Deer Valley Condo Sales Update
Montage Deer Valley Update
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Deer Valley Condo Auction - Silver Strike Lodge
December 10th, 2009 Categories: Park City
Deer Valley Luxury Condos for 50% Off?
In the most shocking announcement so far this year in Deer Valley, the developers of Silver Strike Lodge will be auctioning off 8 units on January 17th at Stein Eriksen Lodge in Deer Valley, Utah.
So don’t be shocked when you see the press releases about the auction in newspapers across the country. The auction house is spending hundreds of thousands of dollars to promote the auction in the New York Times, Miami Herald, Wall Street Journal, LA Times, San Francisco Chronicle, Variety, and other publications.
Silver Strike Auction Minimum Bids
They condos will not be sold at “Absolute Auction.” There will be minimum bids for the 8 luxury condos. Minimum bids will be roughly 50% off the most recent listed prices.
Minimum bids will start at $1,150,000 for a 2 bedroom condo, or just under $700 per square foot.
If you can grab one for this price, you’re getting a great deal in a neighborhood where sales prices have averaged $992 per square foot over the past 5 years.
Which Silver Strike Deer Valley Condos Will Be Sold At The Auction?
Don’t bother searching the Park City MLS for Silver Strike Condos for sale–they have all been removed from the MLS until after the auction.
The eight units that will be sold at the auction include 2, 3, and 4 bedroom floor plans. We can get you a list of the specific units, and their opening bids.
Please complete the form below, and we will be in touch with you immediately with auction specifics!
PRIVACY POLICY: All requests are strictly confidential. We will never share your contact info with anybody!
Related Articles:
6 More Condos Released at Auction-Level Prices!!!
Deer Valley Condo Auction Results
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Deer Valley Condo Sales - Feast or Famine?
December 10th, 2009 Categories: Deer Valley®, Hotels & Lodging, Real Estate
Those of you who have been watching the Deer Valley condo market for years will probably agree…
This has without a doubt been one of the most interesting weeks we have ever experienced in Deer Valley.
Here’s why…
Silver Strike Deer Valley Condo Auction
On Tuesday, the developers of Silver Strike Lodge announced that they will be auctioning off 8 ski-in/ski-out condos in the Village at Empire Pass.
This is the most significant auction of Deer Valley real estate in about 20 years.
When you saw this headline, did you jump to the conclusion that the real estate market conditions in Deer Valley can’t be that much different than Detroit?
Au contraire, mon Frère!
St. Regis Deer Valley Condo Sales
St Regis Deer Valley
Today, 9 units at the St. Regis Resort & Residences, Deer Crest were published across the Park City MLS as closed.
Another 50 units are under contract, and are expected to close within the next 30 days, totaling over $100 million.
And get this…each of the properties sold for 100% of list price ranging from $1044 to $1768 per square foot.
In fact, the 4 bedroom Residence at the St. Regis was the most expensive condo per square foot to have sold in Deer Valley–EVER!
How do you reconcile these two contradictory expressions of the Deer Valley market conditions?
Related Articles:
Get Silver Strike Auction Details Here!
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Deer Valley Home Sales: Market Update
August 9th, 2009 Categories: Deer Valley®, Statistics & Trends
Homes In Deer Valley, Utah Still Selling!
Deer Valley homes are still selling, in spite of the challenging economy.
What’s interesting is that the demand in the marketplace for ultra-exclusive Ski-in/ski-out homes has remained strong, while homes with less convenient access are sitting on the market for long periods of time with relatively few sales.
Deer Valley Home Sales Prices Increasing–What’s the Catch?
If you look at average sales prices of homes sold in Deer Valley 2009 year to date, you might be surprised to see that the average sales price actually increased in 2009.
So far, 15 homes have sold 2009 YTD.
In a surprising statistic, 12 of the 15 were ski-in/ski-out properties!
Buyers of these properties are apparently much less impacted by the difficulty of the current lending environment.
The market for homes in Lower Deer Valley with no ski access has been minimal–only three such properties have sold so far.
Here’s the good news about Deer Valley Homes…
There are some Deer Valley home sellers who NEED to sell.
They’re past the point of waiting until they can get their optimal price. We’re even beginning to see a few foreclosures and short sales.
…But how do you know which ones are the best deals?
It’s easy–just ask us!!!
If you have been waiting for a great deal on a Deer Valley home, now is the time to start throwing out some low offers to see who bites!
Please help us understand what type of home you’re looking for, and we’ll let you know as soon as any homes that meet your criteria hit the market.
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Deer Valley Condos: Current Sales Stats
August 9th, 2009 Categories: Deer Valley®, Dining & Entertainment, Jordanelle, Local Services, Real Estate, Statistics & Trends
We just received a great question from one of our subscribers, who asked…
“How does current inventory and list prices of Deer Valley condos compare to the last 5 years?”
Quick answer: Inventory is increasing, and average sales prices are dropping. Not surprising, based on national real estate trends.
It’s interesting to note that prices of ski-in/ski-out condos are holding their value better than Deer Valley condos with less convenient ski access.
Average sales prices of ski-in/ski-out condos have re-traced back to 2006 levels, whereas Deer Valley condos without ski-in/ski-out access have dropped back to 2004-05 levels.
Why do we see this divergence in the sales numbers?
Are Deer Valley Condos with Ski Access Better Investments?
Time will tell…
Lending probably plays a big role. Cautions lenders have reduced maximum loan amounts, increased documentation requirements, and have generally made condo financing more difficult and more expensive than it was during the real estate boom of 2004-2007 in Park City & Deer Valley.
Today’s purchasers of new luxury condo in Empire Pass, Grand Lodge, Flagstaff, Silver Strike Lodge, Ironwood, and others may still have the resources to pay cash for their purchases.
Buyers of less-expensive resale condos in Lower Deer Valley may be more reliant upon financing for a portion of the purchase price.
Deer Valley Condo Market: The Influence of Financing Changes
As it has become more difficult and more expensive to obtain financing, fewer investors who qualify for loans are active in the current market.
This has caused an increase in inventory, decrease in prices, and we’re seeing fewer condos sold.
Don’t jump to the wrong conclusion when you see the YTD 2009 numbers.
We’ll have to revisit these stats at the year-end, after the long awaited St. Regis Resort & Residences condos close in October/November! That should contribute another 60 condo sales by year end, not to mention whatever other sales transpire between now and Jan 1st.
This is the Time to Get a Great Deal On A Condo In Deer Valley!
One big change in the recent statistics is the change in the list price to closed price ratio. For the first time in 8 years, the ratio dropped below 90%!
True, there’s less new construction reflected in the 2009 sales numbers. Over the past few years, it wasn’t uncommon for sales prices to be 100% of list price for new construction properties.
But still, there’s no denying that there are plenty of motivated sellers in today’s marketplace.
Are you serious about finding a great deal and taking advantage of a motivated seller in today’s market? We can help! Let us know what you’re looking for:
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Red Ledges Succeeds in Spite of Tough Economy
July 25th, 2009 Categories: Golf, Neighborhoods, The Heber Valley
It’s no secret that the market for vacant land has been harder hit than the markets for homes and condos in the greater Park City, Utah area.
But one luxury golf neighborhood is experiencing more sales activity than the others…Red Ledges.
According to the Park City MLS, 7 lots have closed so far this calendar year at Red Ledges, with another 7 Red Ledges parcels currently pending sale.
This chart reveals that sales at Red Ledges have surpassed sales at Park City’s other private golf communities, including Tuhaye, Promontory, Glenwild, and Victory Ranch.
What’s Behind Red Ledges’ Surprising Success?
Price reductions and incentives have helped spur demand. The developer is running a promotion right now that gives new lot buyers a new Mercedes as an incentive for their purchase!
No wonder buyers who are investing today are excited about what’s happening at Red ledges.
Red Ledges Grand Opening
Red Ledges' Jack Nicklaus Course
The Red Ledges golf course opened 4th of July weekend, 2009. Jack Nicklaus was present for the unveiling of the course, which marked the 200th course that he has designed around the world.
“Since the topography of the Red Ledges area is so stunning and diverse, we were challenged to stay true to the Red Ledges vision by planning each hole around its natural surroundings,”
said Nicklaus. “We were able to nestle some holes around the famous sandstone ledges and situate other holes in juniper groves. I am delighted with how the course has turned out.”
Red Ledges Cottages
Red Ledges Homes
The developer is also offering finished cottage homes. These 3000-4000 square foot luxury cabins start just over $1.25M.
These Red Ledges homes with zero lot lines are perfect for second homes or primary residences, as owners don’t need to worry about taking care of landscaping and snow removal–it’s all handled by the homeowners association!
If you need a little more space, check out the selection of “semi-custom” homes ranging from 4000-5000 square feet on 3/4 to 1 acre lots.
Red Ledges Homes
If you’re looking for the most impressive home in Red Ledges, you won’t be disappointed.
This 5 bedroom 6 bathroom home, built by Promark Development, rivals the finest ski-in/ski-out homes in the Park City & Deer Valley area.
This spectacular property will be featured in the 2009 Park City Area Home Builders Association Showcase of Homes Aug 22-23, Aug 29-30, and Sept 5-7.
Perfectly situated above the Red Ledges Golf practice area, the home has fantastic views of Mt. Timpanogos, the Heber Valley, and the iconic “Red Ledges” for which the neighborhood is named.
From the moment you arrive at the home, you’ll be amazed by the thoughtfulness of the design and the quality of the finishes. The heated driveway, tastefully constructed with hand-laid pavers of different sizes, shapes, and colors, is your first clue that you have just stumbled upon a home with no compromises.
We’ll offer an in-depth exploration of the intricacies and unique features of this home in a future post. In the mean time…
Please contact us to arrange a private tour.
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Park City Pending Sales Way Up!
June 29th, 2009 Categories: Park City, Statistics & Trends
Park City Real Estate Market: Did We Hit “The Bottom”?
If you’re like most people, even if you’re convinced that Park City’s LOCATION is right for your family’s future mountain getaway, you have been waiting for the right TIMING to invest, right? Resourceful, disciplined investors take advantage of market fluctuations to acquire assets at rock-bottom prices.
Park City Pending Sales By Month
As you can see for yourself, the number of pended sales in the Park City area is up. Way up over previous months. Inventory is being absorbed at a much faster rate than any point during the year.
What does this mean for you?
Procrastination is Your Enemy.
This is the opportunity you have been waiting for. Finally, there’s a chance to enter the Park City market when prices are depressed and you have superb variety of properties to evaluate. Imagine the alternative–you could wait ’til next year…
…When the sellers who DESPERATELY NEEDED to sell already did, after savvy buyers already grabbed the most desirable properties at the best prices–the kind of deals worth bragging about in years to come.
We Guide You to the Best Deals…but We’re Not Mind-Readers!
Our distinctive style of service allows you to chart your own course. We will explore your specific goals and listen to where you are in your research process, so we can support you in your search. You’re in control, and we’re always there when you need us.
Describe what you’re looking for and we’ll work tirelessly to help you find and acquire it. It’s that EASY.
Contact Us Today for a No-Obligation “Market Bottom Consultation”
Imagine the fun you’ll have when your family finally owns a legacy property in Park City! But the process takes time and careful planning. Don’t miss this rare market opportunity–it’s a winning decision!
We’re waiting to hear from you. Just send us a quick note to: Info@ParkCityRealEstateGuide.com
Or, for faster service… Call ParkCityRealEstateGuide.com today at 1-800-485-0218.
Warning:
You might be surprised by the tone of our conversation. There will be no pressure, no hassles, no gimmicks. But don’t just take our word for it. Find out for yourself!
We only take on a handful of serious buyers each month to ensure remarkable service and results. If you don’t like our style, it’s not a problem. Simply ask us not to contact you again, and we’ll pleasantly honor your request. We can’t work with everybody…
In short, you’ve got nothing to lose….and think of what you have to look forward to!
RELATED ARTICLES:
Park City Real Estate Sales Stats
Record Deer Valley Land Deal
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