Deer Valley Condo Fire Sale
December 28th, 2011 Categories: Deer Valley®, Foreclosures, Park City, Real Estate, Skiing
Breaking news….We have touted the opportunities in the Red Stag Lodge before, if you are unaware of this luxury condo building you can read our earlier posts, but the most important factor is its location.
In short, these luxury condos are walking distance to the slopes at Deer Valley resort as well as the St. Regis and on the free bus line just a couple minutes from Park City’s Main Street.
We have helped a couple buyers secure fantastic deals there in the past few months and now there is some extreme motivation on the part of the bank that owns two units there. Seems the bank has bumped up against its debt limit and they are now being forced to fire sale their remaining units in Red Stag. There will be a 20% price reduction on these two units in the next couple days.
These are two bedroom, three full bath beautifully appointed condos with private hot tubs and full kitchens.
These condos sold three years ago for well over a million dollars and they will now be dropped to just $499,000! Similar sized units next door in Powder Run are on the market for twice as much! There are two of these units available and when the price change hits the MLS there will be immediate interest as this is an extreme value for its location. Click here for details and photos Red Stag Deer Valley Best Buys
One more great Deer Valley buy is higher on the mountain in the Ridgepoint complex.
These upper Deer Valley condos offer ski in and out access to the complex, great views, as well as tennis courts and a pool.
This particular unit is priced $250,000 less than another similar unit and is the lowest priced upper Deer Valley condo available. This is also an extreme value and will go quickly. Ridgepoint Best Buy
If you have been waiting for the right time to get a great deal in Deer Valley, your time has come!
Contact one of our team to take advantage of these incredible opportunities…
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The End of Foreclosures in Park City?
April 5th, 2011 Categories: Around Park City, Auctions, Foreclosures, Golf, Neighborhoods, Real Estate
If you have been waiting for the Park City market to bottom out so you can buy your dream home, condo, or land, it is time to recognize the reality of what is happening all around Park City. This market is heating up…
Inventory is being snapped up by savvy buyers, at great prices, and is not being replaced. Many of these great deals have been distressed sales, or simply very motivated sellers, but the buyer’s advantage in Park City may be nearing its end.
- In Hidden Meadows, Deer Valley, there are only 2 homes on the market today…and 5 sales over the past year.
- In The Colony at White Pine Canyon, inventory was reduced by more than 42% in the past 120 days.
- At Promontory, there is less than one year of supply of available lots for sale after more than 70 parcels sold in the past 12 months. See below…
How much more evidence you need that many neighborhoods in Park City have hit the bottom and prices will turn around soon?
Pre-Foreclosure Notice of Defaults and Trustee sales are down markedly in Summit County, Utah.
That is not to say there will not be more foreclosure properties that come to market, but they will be fewer in number and the competition for them will be greater. Already this year we have seen numerous multiple offer scenarios on bank owned properties as soon as they hit the market.
If you are not actively following the market; or, more importantly, don’t have a local real estate agent working for you, you frankly do not have a chance of scoring the great deal you are dreaming about because the competition is too fierce for the best deals.
One telling example of the change in our market that began last year and is really manifesting itself now is at Promontory.
Promontory: From ‘REO Row’ to ‘Picked Over’
This luxury golf course development has been through well documented travails in the past, however, the jokes of a couple years ago regarding inventory there are long forgotten. The future is bright and the days of buying homes for pennies on the dollar there are numbered. Bank owned inventory is down to its lowest level in years, with just a couple bank controlled properties now on the market!
In 2010, there were 53 homes and 71 lots sold in Promontory. Thus far in 2011, there have been 17 homes sold or pended (eleven of those in the past 30 days!) and more than 40 lots have sold or pended. That leaves less than a year’s supply of homes and lots in this exclusive area, representing a staggering change in the market dynamic there. Indeed, the price of homes is rising, despite the sale of many bank owned properties
A membership drive offering incentives available through the end of April 2011 (call us for details) and a forthcoming new clubhouse are adding value, convincing more and more buyers that the time is now to pursue the dream of owning a piece of this world class resort community.
Park City 2011 Looking ahead to a Seller’s Market
Other neighborhoods and areas in and around Park City have similar story lines, while there is still plenty of inventory overall, properties are selling every day, the best deals are going quickly, and there are fewer distressed properties to put pressure on other sellers to reduce their prices. Eventually, the advantage buyers have now will shift back to sellers
This year could very well be the turning point in Park City…what are you waiting for?
Allow us to help you achieve your goals. Call or email us today and tell us what you are looking for in a Park City and we will help you make it a reality.
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Red Stag Lodge Deer Valley Bank Owned Condos
October 7th, 2010 Categories: Deer Valley®, Foreclosures, Park City, Real Estate
Attention Deer Valley Condo Bargain Hunters!
Amazing Opportunity for Bank Owned Condos a Snowballs throw from Deer Valley Resort: The Best Inexpensive Deer Valley property you have never heard of…
Red Stag Lodge Condos Are Bank Owned Now…
The Red Stag Lodge was built in 2002 as a small european style luxury hotel with 11 separate apartments.
Located steps away from Snow Park Lodge (with shuttle and bus service just outside the door) it is a lovely building with surprisingly luxurious and extensive common area amenities and a location that is irreplaceable.
Red Stag Lodge Deer Valley Location
Location is a term overused in real estate, but in this case it means everything. This is truly a walk to skiing at Deer Valley property. Yes, the same Deer Valley that was just voted North America’s best ski resort for the fourth year in a row. Also, it is walk to concerts in the summertime!
Foreclosures: Deer Valley Condos
There are currently 5 bank owned fully furnished two bedroom units with private decks and hot tubs. That is 5 as of today, but these may not last long since they are priced $300,000 less than two bedroom units next door in Powder Run.
Red Stag Lodge Amenities
New owners of these units will take advantage of the building’s common areas, including a work out room, spa, steam room, sauna, as well a small dining room and kitchen.
Rare Deer Valley Foreclosures–Act soon or miss out!
This is truly one of those opportunities that come along once in a very great while in Deer Valley.
Here is a link to the real-time available Red Stag Condos for sale in Deer Valley
If you are at all interested you must contact us today at 435-714-0909.
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Park City Utah Luxury Home Auction
August 13th, 2010 Categories: Auctions, Deer Valley®, Foreclosures, Park City, Real Estate, The Canyons®
Park City & Deer Valley Estate Home Auction
On the heels of their two previous successful auctions in Deer Valley, Utah this year (Silver Strike Deer Valley Auction and Lookout Deer Valley Auction), Accelerated Marketing Partners (AMP) will be holding a Sealed-Bid Auction for 11 Luxury Park City Estates.
Park City Estates Sealed Bid Auction
The sealed-bid auction for the 11 luxury homes located in some of Park City and Deer Valley, Utah’s most exclusive neighborhoods will be held on August 27th.
The sale is comprised of nearly $80 million worth of one-of-a-kind estates, each complete with an array of amenities more commonly found in the most highly-appointed residences of the Hamptons, Montecito and Monte Carlo.
Several of the homes feature ski-in/ski-out access at Park City’s acclaimed ski resorts or are located in exclusive golf communities.
The estates are being sold by motivated individuals ready to commit to the highest bidder through a transparent buying process with published reserves; these reserves range from $1.495 million to $15.875 million and are up to a 54 percent slash in price.
Park City Auction Minimum Bids:
Published reserves for August 27th sale range from $1.495M to $15.875M.
“As the nation’s largest sealed-bid, published reserve auction, this watershed event offers a once-in-a-lifetime opportunity for prospective buyers around the country to purchase preeminent mountain homes at unbeatable prices,” said Ken Stevens, west coast CEO and co-founder of Accelerated Marketing Partners, a national, full service real estate marketing firm that has conducted high-end new development auctions around the country.
All 11 estates being offered at the August 27 sealed-bid auction are available for immediate occupancy.
The properties are…(drum roll please)
DeerField Estate, Deer Crest Deer Valley
This 15,000-square-foot estate,was previously the most expensive listed property in all of Deer Crest when it was taken off the market a year ago. DeerField Estate overlooks Park City and Jordenelle reservoir. The home has seven master suites and 11 bathrooms, a private gondola for ski-in/ski-out access, indoor swimming pool, billiards, theater, family room with open truss cathedral ceilings and a wine room with 18th Century French cast-iron doors.
DeerField Estate has a published reserve that’s a 54 percent slash in price from the previous asking price.
Deer Crest Home
This 9,657-square-footestate on 0.66 acres is situated on the Jordenelle reservoir view-side of Deer Valley® Resort and features six bedrooms and seven baths. There are multiple dining areas, radiant heated floors, and the estate is fully landscaped with terraces, patios and decks.
Deer Crest has a published reserve that’s a 19 percent slash in price from the previous asking price.
The Colony at White Pine Canyon
Nestled among the Aspen trees along the ski slopes of The Canyons Resort®, this 7,000 square-foot fully-furnished estate on 6.24 gorgeous wooded acres is located within The Colony, a gated ski-in/ski-out community. The home features six bedrooms and eight baths, an open-showcase kitchen, five stone fireplaces, a wine cellar, and a state-of-the-art theater system.
Published reserve is 32% less than previous list price.
Promontory
Located in Park City’s exclusive Promontory golf community, this 8,224-square foot estate on 2.5 acres features six bedrooms, six full baths and two half-baths. There is a home theater with a trestle wood ceiling, wood mantles carved by a local sculptor and a wine closet with custom mahogany racks as well as a separate upper level apartment for guests that is complete with kitchen, sleeping quarters and bath.
Promontory has a published reserve that is a 31 percent slash in price from the previous asking price.
Old Town Park City
This newly built 4,400-square-foot estate is situated in the heart of Old Town Park City, conveniently located a few feet from Park City’s Historic Main Street and the Town Lift. This spacious four-bedroom and six-bath home includes four custom stone fireplaces, a master suite with a home office area and a private elevator to service the living spaces, as well as an oversized three-car garage.
The published reserve for this estate is is 33 percent slash in price from the previous asking price.
Tuhaye Home
1.88 acres of hillside land and surrounded by open space and scrub oak with incredible views of the Jordanelle reservoir, Deer Valley® Resort, Mt. Timpanogos and O’Meara golf course. This 7,000-square-foot estate includes six bedrooms and eight bathrooms. Additional amenities include seven fireplaces, a media room, wet bar and a gourmet kitchen with a wine room.
Tuhaye has a published reserve that’s a 22 percent slash in price from the previous asking price.
Knoll Estate
As part of Deer Valley’s Knoll Estates, an exclusive gated community located in Silver Lake Village, this 7,218-square-foot estate has six bedrooms and five baths. The home also features five fireplaces, gourmet kitchen, ski prep room, fitness room with sauna and hot tub, attached two-car garage, and heated walkways and driveway.
Knoll Estate has a published reserve is a 30 percent slash in price from the previous asking price.
The Lookout
This new 5,866-square-foot estate at upper Deer Valley® Resort offers spacious mountain living and is located within minutes of Silver Lake Plaza via a private shuttle service. The home features five bedrooms, 5.5 baths, an elaborate gourmet kitchen, stone fireplaces, vaulted beam ceilings, oversized decks, and a spacious two-car garage.
The Lookout has a published reserve that is a 54 percent slash in price from the previous asking price.
Old Town Park City
Just an easy walk from the renown Park City’s Main Street and Park City Mountain Resort® lift is this 3,100-square-foot home featuring three bedrooms and 2.5 baths, a fully equipped gourmet kitchen, two fireplaces, a home theater and a private outdoor hot tub overlooking Park City.
This Old Town Park City home has a published reserve which is a 23 percent slash in price from the previous asking price.
Midway, Utah
Located only minutes beyond Park City in breathtaking Midway is this 7,500-square-foot estate provides 360-degree views of Herber Valley, mountains, lakes, hot springs and golf course. The home boasts soaring 23-foot vaulted ceilings, three bedrooms and baths, five rock wall fireplaces, two fully equipped gourmet kitchens and an attached guest suite and three-car garage.
Midway has a published reserve that’s a 53 percent slash in price from the previous asking price.
Stag Lodge
With private Deer Valley® Resort ski-in/ski-out access, this 3,397-square-foot condominium is situated in the ideal mountain location. The four-bedroom, five-bath home is luxuriously furnished and features four fireplaces, fitness room and outdoor pool, as well as clubhouse shuttle service.
Stag Lodge has a published reserve that is a 24 percent slash in price from the previous asking price.
Park City Estate Auction Deadline to Bid
Sealed bids must be submitted to Accelerated Marketing Partners no later than August 27th at 5:00 p.m. MDT. Bidders may thoroughly view all properties prior to this deadline.
Want to Tour the Park City Auction Homes?
If you are interested in previewing any of the homes in person, please contact us immediately at Toll Free 877-838-2805 or email us at: auction@parkcityrealestateguide.com and we will make arrangements for your family to take a personal tour of the luxurious residence(s) that caught your attention.
Preview Minimum Bids Now!
For more information on the Park City estates sealed-bid auction, including the minimum reserve bids for the 11 available estates, please complete the form below:
When you submit your request, you will be directed to a page that shows all of the properties and their bid details.
Don’t forget to check your email for your SPECIAL BONUS:
We will send you a link to the auction website where you can browse disclosure documents, floor plans, photos, virtual tours of the homes, inspection reports, etc…
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Bank Owned Timber Wolf Lodge Condo
July 1st, 2010 Categories: Foreclosures, Neighborhoods, Real Estate, The Canyons®
Have you been searching for a 50% off deal in Park City? Or perhaps just interested in finding a great mountain retreat as an investment for your future?
This may be the answer…
Rustic Park City Condos at Foreclosure Prices
Looking for a newer Park City condo that feels like a cozy log cabin?
Timber Wolf Lodge is perfect if you like a heavy dose of wood in your vacation diet. These rustic condos feature a dining room, living area, and kitchen on the main floor with two bedroom suites upstairs.
Timber Wolf Lodge Location
Timber Wolf Lodge is located near the base of The Canyons Resort.
The beautiful grounds feature a creek and mature trees. These ten year old units have underground parking and easy access to all Park City has to offer. They are 35 minutes from the SLC airport and are sought after as a rental units.
Click here to see a map of Condos at The Canyons Resort.
Timber Wolf Lodge Foreclosures!
These two bedroom townhomes sold for $550,000 to $575,000 at the peak of the market.
A fully furnished bank owned unit in Building 6 was just reduced to $275,000…
…about 30% less than other similar sized units on the market.
This condo is well positioned at the back of the complex (away from the noise of hwy 224) and is just under 1200 square feet.
Here are the bank-owned Timber Wolf Lodge details:
http://pcmls.com/Pub/EmailView.asp?r=68832927&s=PKC&t=PKC
But wait, it gets even better…
Not Yet Listed: Bigger, Better Bank-Owned Timber Wolf Lodge
Our deal searching radar has identified another bank-owned unit about to be listed! And it could be an EVEN BETTER DEAL than the property we mentioned above!
It sits near the hot tubs in a stand of Aspen trees with a rushing creek you can hear from the deck.
This is the larger floor plan–over 1500 sq ft–with nice furniture and large bedroom suites.
Interested?
Please contact us right away so we can get you the details before it officially hits the market!
I toured the property yesterday, so you can also call us at 1-800-485-0218 and I’ll answer all your questions…
Happy Deal Hunting!
Related Articles:
Park City Real Estate Auctions
Park City Foreclosure Articles
Park City Real Estate Sales Statistics
Get Weekly Park City Foreclosure Updates
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Park City Best Buy World Cup
June 17th, 2010 Categories: Auctions, Foreclosures, Park City, Real Estate
Three of the properties we planned to feature in this week’s Park City Foreclosure update are already under contract.
So are BOTH of the featured properties from our last Foreclosure update–one of them had 4 offers! But this post is not about us being right…
It’s about helping you profit from the current market conditions.
Are You Tired of Park City Real Estate “Insiders” Grabbing the Best Deals?
The best deals come and go quickly. There are obviously plenty of smart investors waiting on the sidelines, cash in hand, for the best deals to come along.
Are You Ready To Beat The Park City Real Estate Insiders at Their Own Game?
In celebration of the World Cup, our team selected the 32 best bargains in the Park City & Deer Valley marketplace.
Included in the list are:
- A ski-in/ski-out home in The Colony that’s going to Auction
- Bank-owned condos in Lower Deer Valley that are walking distance to the slopes under $700k
- 2 Walk-to skiing condos at Park City Mountain Resort under $180k each
- An Old-town Park City home under $300k
- The least expensive 2 BR condo in Deer Valley–by over $200K!
To have the complete list delivered to you instantly via email, please complete the form below:
Related Articles:
How To Get A Great Deal On Park City & Deer Valley Real Estate
Get Weekly Park City Foreclosure Updates
Park City Real Estate Auction
Park City Real Estate Sales Statistics
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Bank Owned Quarry Mountain Ranch Home
June 3rd, 2010 Categories: Foreclosures, Park City, Real Estate
Park City Bank-Owned Home Reduced by $350,000!
When the bank foreclosed on this home, their note was for nearly $3 million.
The home has been listed by the bank for a while, starting at $3.5 million, but apparently the bank wants it off their books TODAY as evidenced by their drastic price reduction last night.
If you believe in the old saying “buy the least expensive lot on the block” this is a shining example!
It’s the least expensive home in the neighborhood…by over $2 Million!
Park City Home Millions Below Reproduction Cost
Other active listings in Quarry Mountain Ranch range from $4 million to $5.8 million.
This home is so far below reproduction cost, it’s almost obscene.
One neighbor recently paid $2 million for a vacant lot just a few parcels away…
The home sits on a flat 2.5 acre parcel with outstanding views of the ski runs and mountain peaks at The Canyons Resort.
Here are the Park City Bank Owned Home details:
http://pcmls.com/Pub/EmailView.asp?r=1884945842&s=PKC&t=PKC
There is already one offer on the home since the price reduction this morning, and it won’t last long at this price.
Contact us today at 1-800-485-0218 if you need details ASAP.
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Flagstaff Deer Valley Condo Developers React To Auction Prices
June 2nd, 2010 Categories: Auctions, Foreclosures, Park City, Real Estate
Flagstaff Deer Valley Slashes Prices!
Since the Silver Strike Auction took place on January 17th, the Village at Empire Pass neighborhood has experienced a surge in attention from smart value investors.
If you act soon, you can still grab a gorgeous brand-new ski-in/ski-out Deer Valley condo at 30% to 50% off!
The numbers don’t lie… 38 Empire Pass condos have sold/pended since Jan 1st!
According to the developer of Flagstaff, “We’re selling these properties below our cost.”
Welcome to 2010, when developers define success as return of their investment not necessarily return on their investment.
We’re confident that buyers who step up to the plate this winter and secure these ultra-luxurious condos will be the same people who have reason to brag to their friends in 5 years about their wisdom to purchase at the bottom of the market!
Here’s the ironic part…
The prices are distressed, but the properties are not.
Trophy Deer Valley Condos at Distressed Prices
These are not distressed properties. They’re some of the finest Deer Valley has to offer.
However, the market conditions have hit developers hard, and construction lenders are getting anxious to take come of their money off the table.
Could this be the chance you have been waiting for?
Flagstaff Deer Valley Condo Interiors
Check out the master bathrooms in Flagstaff!
We have toured quite a few families through Flagstaff over the past few months, and without fail, they all comment that they’re the most luxurious condo bathrooms they have seen!
Families love the option “Bunk Room” that offers each bunk their own personal televisions, complete with headphones and a privacy curtain!
Flagstaff Lodgekeeper
Larry the Lodgekeeper
Not only are the Flagstaff condos gorgeous, the lodge includes about 5,000 square feet of common area on the lobby level for the exclusive enjoyment of owners, guests, and renters at the lodge.
There’s a small exercise room, internet workstations, comfortable living rooms with grand fireplaces, a ski-locker room, game room, and even a pub!
Flagstaff lucked out when they convinced long-time local Larry Dodge to become the in-house lodge-keeper!
He’ll set out the complimentary continental breakfast in the morning, and he serves beverages in the pub apres-ski!
Flagstaff Condo Liquidation Sale!
Here are the remaining Flagstaff Condos For Sale.
Don’t get sticker shock when you see the list prices. We can likely save you hundreds of thousands–even millions– of dollars off the list prices. Call us to find out how…
Toll Free 1-877-838-2805
This is not one of those wait-around and hope the prices drop further kind of situations. The lender has given their approval for just a few more of these 40% off condo sales, but we’re not sure how long they’ll continue to allow the developer to sell properties below their construction cost…
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Park City Real Estate Stats Q1 2010
May 28th, 2010 Categories: Foreclosures, Park City, Real Estate, Statistics & Trends
Park City Real Estate Market Improving…
But don’t take our word for it…see for yourself!
- The number of active listings is down, as is the number of months of supply
- Number of transactions is up more than 100% Y2Y, especially for homes and condos
- Dollar volume sold is up
- Notices of Defaults & Foreclosures down
- Higher percentage of listings selling
- Median prices level for 4 consecutive months
Park City Real Estate Absorption Rate
The Park City housing market’s absorption rate has fallen for the seventh month in a row.
This key measure estimates how long it will take a house to sell. The current rate is 27.29 months of supply, down from a high of 41.26 months of supply in August 2009.
What has been a strong buyer’s market over the past year could be moving back towards a more balanced market.
Could the window of optimal opportunity for buyers be closing?
Park City Foreclosures Drop
In the first quarter of 2010, the number of foreclosures in Summit County dropped 40% from the 4th quarter of 2009.
The number of Notices of Default also dropped, which is a leading indicator that the number of foreclosures will continue to decrease during the second quarter of 2010.
Park City Utah Real Estate Unit Sales Volume Up
The number of properties sold during the first quarter of 2010 was up nearly 100% Y2Y, with 325 closed sales.
Get comprehensive Park City & Deer Valley sales stats here…
Q1 2010 Park City Market Report
Q1 2010 Park City Real Estate Sales Statistics
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Park City Real Estate Auction Update
May 14th, 2010 Categories: Auctions, Foreclosures, Park City, Real Estate
Wow! We got such a great response from our auction update a couple of weeks ago. Thanks to all of our readers for your inquiries.
In fact, Greg’s out touring today with some buyers who passed on the auction and felt they could get better deals elsewhere in our market, which may be true…
Park City Auction Results
The Park City auction went about as well as expected. More than half of the Park City & Deer Valley auction properties had interest at the auction–18 of the 30 properties received bids.
The prospective buyers, sellers, and auction facilitators are now in the process of converting the winning bids into actual purchase contracts. We’ll keep you posted as the sales close in the weeks ahead.
Park City Real Estate Auction Compared to National Benchmarks?
The national average for real estate auctions is that about 37 % of the properties sell.
So far, Park City has been even more successful than that, with 100% of the Silver Strike Deer Valley auction condos sold, and 50% of the Lookout Deer Valley Auction properties sold, about 35% of the Westgate condos sold.
Crazy Good Deals on Park City Real Estate?
We shared How To Get a Great Deal on Park City Real Estate in a recent post, in case you missed that…
If you have been watching Park City real estate from afar and you would like a little personalized help sorting out the great deals from the rest, give us a call today (Toll Free 800-485-0218) and we’ll point you in the right direction!
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