Real Estate
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…
| Currently No Comments »
Park City Real Estate Sales Stats
August 12th, 2010 Categories: Real Estate, Statistics & Trends
Park City Real Estate Sales Volume & Unit Sales Up In Q2 2010
Sales dollar volume for the first half of 2010 continues to improve dramatically compared to the same time period of 2009. For the period ending June 30, 2010, sales dollar volume was up 67% from 2009 at $543 million versus $324 million.
The number of sales is ahead 60% in 2010 over 2009 with 669 units closed compared to 415. These figures represent four consecutive quarters of improved sales throughout the Park City MLS.
Park City Home Sales Up…Inventory Down
Sales of single family homes increased 36% during the first half of 2010 compared to the first half of 2009. Inventory levels are now down about 15% when comparing this period to last year.
Sales have increased as prices have come down significantly. The median price for a home within Park City limits for the year ending in June was $1,125,000, down 37% from the 2009 figure of $1,806,205.
Don’t panic if you own Park City Real Estate… The 37% decrease is a function of exactly which properties are selling, not necessarily an indication that your home is worth 37% less than last year!
Park City Condo Sales Way Up
The number of Park City, Utah condominium sales for the first half of 2010 increased 93% over 2009, due in large part to the success developers had reducing prices in areas like Empire Pass at Deer Valley (Deer Valley Auction and Flagstaff Liquidation Sale) which saw a virtual buying frenzy during the first half of 2010.
Buyers were able to purchase brand new ski in ski out properties for up to 40% 0ff… There are still a few of those great deals left if you are interested in ski-in/ski-out properties?
You can download the complete statistical wrap up of Q2 2010 here.
Park City Interest Rates Low
As interest rates continue to be very attractive and buyers secure great deals on their Park City dream property, our market seems poised to continue its recovery.
There are still great opportunities in the Park City area for buyers so if you are serious about getting a great deal, reach out and let us help you find yours!
Related Articles:
Park City Luxury Home Auction
Park City Best Buy World Cup
Park City Foreclosure Updates
| Currently No Comments »
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
| Currently 2 Comments »
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
| Currently No Comments »
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.
| Currently 1 Comment »
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…
| Currently 5 Comments »
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
| Currently 1 Comment »
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!
| Currently No Comments »
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.
| Currently 1 Comment »
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!
| Currently 1 Comment »
