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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5 Killer Strategies to Get a Great Deal On Park City Real Estate
May 7th, 2010 Categories: Auctions, Deer Valley®, Foreclosures, Park City, Real Estate
Every one of our clients who scored amazing deals on Park City Utah real estate over the past year used one of these five strategies to successfully beat other smart investors to the best deals.
Park City Real Estate Guide’s Success Strategy #1:
Write an Offer on Properties Owned by Desperate Sellers
We get emails every week from readers of our blog wondering which sellers are the most desperate, need out, are teetering on the edge of bankruptcy, etc.
Some sellers advertise their motivation with shocking low list prices. And these properties sell quickly. These are the low-hanging fruit, and you better be watching the MLS on a daily basis (or hire us to watch it for you) if you want to grab one of these obvious winners.
But this strategy doesn’t always uncover the BEST PARK CITY DEALS. How to you find the less obvious bargains?
Park City Real Estate Guide’s Success Strategy #2:
Write Offers on Foreclosures & Bank Owned Properties
Everybody wants to buy a foreclosure these days. But don’t fall into the trap of assuming that this is your only way to grab a super Park City home or condo at a below-market price. This common Park City buyer mistake could actually cost you money.
True, banks are in the business of liquidating properties these days, and some of our clients have found smokin’ deals on bank-owned properties. If you have cash that you’re ready to invest, this can be an outstanding strategy, but it’s not the only play in our playbook.
Park City Real Estate Guide’s Success Strategy #3: Write an Offer on a “Short Sale”
Like the first two strategies, this one works too. Don’t be attached to any specific time frame, because this process could take months. It’s not hard, it just takes patience and know-how, which we can share with you.
So if you don’t care if you own a Park City property this year or next, and you don’t need a loan to make a deal work, this could be the strategy for you.
But it might not be the best way for you…or even the best deal!
Park City Real Estate Guide’s Success Strategy #4:
Write an Offer on Properties Where Sellers have Equity to Spare
Most buyers overlook this most effective strategy. They’re so focused on chasing short sales, competing with other buyers for foreclosures, and waiting for a well-priced property to hit the MLS that they miss some of the best properties–at the best prices–in the Park City & Deer Valley marketplace.
Buying a property from a billionaire who no longer needs a condo in Deer Valley for whatever reason isn’t such a bad idea.
They can afford to sell, they want to sell, and you can structure these types of deals on time-frames that work for you. You’re free from all the hassles and heartburn of dealing with banks who ignore your offers.
Park City Real Estate Guide’s Success Strategy #5: The ULTIMATE Success Strategy
Have you noticed the pattern yet?
In order to get a great deal, write offers.
Yes. It is that easy!
We’ll find out soon enough…
- Which sellers are indeed desperate to sell
- Which banks want the property off their books this month
- Which lenders will accept partial payoffs
- Which sellers can actually afford to sell
BONUS TIP: Don’t trust wimpy order-takers to manage your investment process.
Securing the best properties at the best prices requires tenacity, determination, and experience during the negotiation process. We write lots of offers–we’re efficient and strategic about the process.
We’ve had offers ignored, shreadded, spit on, torn-up, and rejected. But we don’t care…because we’ve gotten a lot of them accepted too!
When you work with us, you won’t wonder if you could have gotten the property for less.
You don’t need to be here in town–we can handle all the paperwork via email or fax. We’ll take as much time as you need to feel comfortable with us and the process during the first go-around, and then on subsequent offers we’ll work together like a well-oiled machine.
If you have been researching Park City or Deer Valley real estate from afar…
And you recognize the signs that the market is turning…
And you’re finally ready to stop dreaming about owning a Park City property and ready to make it happen…
Contact Our Professional Real Estate Concierge at Toll Free 1-800-485-0218 for a FREE Confidential Consultation About Your Investment Objectives.
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Park City Real Estate Auction
April 26th, 2010 Categories: Auctions, Foreclosures, Park City, Real Estate
You are invited to attend…
Park City Luxury Property AUCTION
These sellers’ loss is your gain!
Now is your chance to own a beautiful luxury resort property in Park City, Utah at a fraction of the value, with instant equity. The inventory includes bank-owned properties as well as properties to be sold ABSOLUTE (no minimum bids).
These Park City, Utah properties are not “left-overs” that desperate developers are liquidating to appease their construction lenders.
Join us for this auction where luxury properties will be sold to the highest bidder. Properties have been selected for location, value and opportunity for qualified bidders to get a SUPER PRICE.
The May 1, 2010 auction will feature homes, condos, and land in assorted neighborhoods around Park City & Deer Valley.
Park City Auction Prices
Prices range from $49,000 to over 2 million. A property and price range for everyone!
Park City Auction Properties Include:
- Mrs. Fields (Cookies) mansion being sold ABSOLUTE to the highest bidder; no minimum, no reserve
- 61 Acres in Deer Valley next to the former home of Mitt Romney
- 8,300 sq. ft. grand lodge – site of a recent Hollywood movie
- Premier Deer Valley home where many of the A-list have stayed and played
- Several Ski-In, Ski-Out mountainside condos
- Best value Grand Summit condos at The Canyons
- Large 8 bedroom Bed & Breakfast or family home with 8-car garage; 1.5 blocks from Park City ski area
See All Park City Auction Properties
To view all properties being offered for sale please complete the form below.
We will immediately email you the complete auction property list.
FREE ATTENDANCE & FREE REPRESENTATION FOR BUYERS
Our experienced Buyer’s Agents will help you make the best informed decision for your Park City Real Estate investments. Don’t miss this opportunity to find the perfect mountain luxury property in Park City, Utah.
If you are interested in any of these auction properties, please complete the form above.
Good luck in your research into Park City auction properties!
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Park City Real Estate Market Update
March 25th, 2010 Categories: Foreclosures, Park City, Real Estate
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Montage Deer Valley First Tracks Incentives
February 9th, 2010 Categories: Hotels & Lodging, Park City
Deer Valley Insider ALERT: This is your moment to shine!
Residences are finally available for sale in the Montage Deer Valley!!!
Montage “First Tracks”
Here’s how the developer is offering the Montage First Tracks residences…
Fifteen residences–including furnished and unfurnished Montage residence floor-plans–will be listed across the Park City MLS later this week.
In spite of their low-key approach to offering the first units in Montage Deer Valley for sale, the developer is offering substantial incentives to the first 15 families who purchase the First Tracks residences.
Deer Valley Montage “First Tracks” Incentives
The “First Tracks” early ownership program includes privileges that WILL NEVER BE OFFERED AGAIN, including:
- Limited-Time INTRODUCTORY PRICING at a Fraction of the Developer’s Original Pro-Forma Prices
- First Choice of Residences (Future Buyers Can Only Choose”Current Release” Units)
- Private First Tracks Guided Skiing for your entire family at Deer Valley Resort
- Two years of Deer Valley Resort Season Ski Passes
- Access to Talisker Club Amenities
- All-Expense-Paid Stay at Montage Beverly Hills or Montage Laguna Beach, CA.
They Laughed When We Posted Montage Updates on our Blog 2 Years Ago…
But this week, our Deer Valley insider clients are positioned to grab the BEST RESIDENCES in Montage Deer Valley at the LOWEST PRICES you’ll ever see.
If you are still considering a family legacy property in Deer Valley, you owe it to yourself to at least check out Montage Deer Valley.
DO IT SOON.
If you’ve been reading our posts for a while…You’ll recognize that we’re not always foaming-at-the-mouth rabid writers who pressure our readers to take action.
But here’s the reality…
These 15 “First Tracks” opportunities could be gone before most Deer Valley people even knew they were available.
Do you want the inside track on “First Tracks” discounts that could save you HUNDREDS OF THOUSANDS–EVEN MILLIONS–of dollars?
Or…would you rather sit and watch what happens over the next month…and pay full retail price after the “First Tracks” families lock-in their instant equity and premier locations?
Montage “First Tracks” Prices?
Please complete the form below, and we’ll be in touch with you right away with time-sensitive updates and strategies that will maximize your chance to beat other smart investors to the best deals you’ll ever see at Montage .
Beginning Friday February 12th at 9 am MST, the developer will begin receiving offers for the first time.
We have copies of the Montage contract and HUD Property Report that must accompany all offers.
PS If you want details immediately, please just call our toll free number and we’ll give you a quick overview:
TOLL FREE 877-838-2805
Related Montage Articles:
Montage Deer Valley Residence Sales Update Spring 2011
Deer Valley Montage Residences
Montage Deer Valley Condos Under Construction
Montage Deer Valley Floor Plans
Montage Deer Valley Opening Date
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 Residences
January 28th, 2010 Categories: Hotels & Lodging, 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 Residences Sales Update Spring 2011
Montage Deer Valley Condos For Sale Soon
Montage Deer Valley Under Construction
Deer Valley Montage First Tracks Incentives
Montage Deer Valley Opening Date
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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