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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Lookout Deer Valley Home Auction
March 26th, 2010 Categories: Auctions, Deer Valley®, Foreclosures, Real Estate
Let’s be clear…
The Silver Strike Auction and post-auction Deer Valley Condo Fire-Sale in Empire Pass revived the ski-in/ski-out Deer Valley condo market like a turbo-charged defibrillator!
Smart developers jumped on the bandwagon…
…And reacted decisively to the auction-level pricing, including Flagstaff and Lookout at Deer Valley.
Lookout at Deer Valley Home Auction This Weekend
Do you remember the last time you could find new-construction in Deer Valley for under $300 per square foot?
It’s been about 20 years…but now you can grab one of these gorgeous homes at a shocking low prices:
Lookout Deer Valley Auction Process: Quick & Easy
Buying a Deer Valley home doesn’t get any easier than this…
There’s no need to invest the time and hassle to fly to Deer Valley and get caught in auction hype!
Simply submit your bid via email or in person.
It’s a no-risk, sealed-bid, “best & final” offer opportunity for you to purchase a premier Deer Valley home at a price that YOU determine, not the seller.
Deer Valley Home Auction Minimum Bids
No bids below the minimum bid will be considered, and homes will be offered without furniture. Furniture packages are available for your convenience after the auction.
Want to Bid on Lookout Deer Valley Auction Homes?
Please complete the form below, and we’ll immediately send you an official bid form, along with a broker referral form.
Lookout at Deer Valley Home Auction: No Risk Bidding
You don’t even need to submit an earnest money deposit to submit a bid!
Lookout Deer Valley Auction Process
If your bid is the winning bid, we’ll complete a purchase contract within 48 hours of your bid’s acceptance, and you’ll wire a 5% earnest money deposit.
You’ll close on the acquisition of your new Deer Valley home within 30 days, if you bid on one of the 5 completed homes.
Custom Deer Valley Homes At Auction Prices?
Two of the homes (#29 and #30) are completed exterior home shells, awaiting your vision!
You get to choose the cabinets, floors, paint colors, etc. Note: these properties have some of the best and most-unobstructed mountain and forest views in the entire 44 acre neighborhood!
And you won’t need to pay the entire purchase price until construction of the home is complete!
Lookout Auction Time-line
The developer’s plan is to have sold all 7 of the homes by Sunday night, March 28th. Yes…just 72 hrs from now.
We visited the properties earlier today, and they have already received bids on many of the homes.
Sorry, this isn’t one of those opportunities you can sit back and chew on for months before you make a decision. But don’t worry, we will make the process easy for you every step of the way!
Please complete the above form, and we’ll expedite your bid process.
Lookout Deer Valley Auction Seller Disclosures Available NOW
We can send you an online link to all of the Seller Disclosure documents, so it’s not impossible for you to make an informed decision, even with so little time for research.
Contact Us About the Lookout Deer Valley Home Auction
If you want to speak with us immediately, please call 435-640-1854 and we’ll answer all of your questions.
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Park City Real Estate Market Update
March 25th, 2010 Categories: Foreclosures, Park City, Real Estate
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Park City Utah Foreclosures Revitalize Local Market?
March 8th, 2010 Categories: Foreclosures, Real Estate, Statistics & Trends, Utah Facts and Fiction
In some ways, foreclosures are a good thing.
Not for the families who lost their properties, but for the overall health of the real estate market.
In a luxury resort marketplace where sellers traditionally have significant staying power and a lack of urgency to drop asking prices, realistic sellers are now dropping prices to compete with banks who control an increasing percentage (though still very small relative to the overall size of the market) of the listing inventory.
Park City, Utah Foreclosures
Foreclosures and short-sales are on the rise in Summit County, Utah.
Take a look at the chart…compliments of Rick Klein at Mountain Summit Mortgage in Park City.
For years, Mr. Klein has tracked the relationship between recorded “Notices of Default” (NOD’s) when borrowers fall behind on their payments, and the subsequent rise in Trustees Deeds, which evidences banks either selling or foreclosing on properties.
For the first time in the past 7 quarters, the number of Notices of Defaults actually dropped in Q4 2009.
Do Park City Foreclosures predict the bottom is near?
Since NOD’s foreshadow actual foreclosures by a few months, could this be a sign that the Park City real estate market is nearing a bottom?
Time will tell…
Foreclosures Push Park City Real Estate Prices Down
The increase in bank-controlled inventory has helped push prices down…
Sellers hate this news, but buyers in today’s market are finding amazing deals.
At lower prices, buyers have less risk and are obviously more enthusiastic about entering the market again, as evidenced by the dramatic uptick in pending and closed sales.
Average prices are down, but number of transactions are up…way up when compared year-over-year.
Signs of Recovery in the Park City Real Estate Market?
Barrons Names Park City Best Place for Second Home
The pullback in prices in Park City has not gone unnoticed.
Did you catch the cover article in Barrons this week that claimed Park City, Utah is one of the top-5 towns in the country for a second home? Here is the Barrons article about Park City.
Find a Great Deal on Park City, Utah Properties
Our clients have been negotiating shocking low prices on Park City properties over the past year. For lists of available bank-owned properties in and around Park City, Utah, please complete the form below:
Related Articles:
Silver Strike Deer Valley Condo Auction
Flagstaff Deer Valley Developer Reacts to Auction Next Door
Silver Strike Developer Offers All Remaining Deer Valley Condos at Auction-Level Prices
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Montage Deer Valley Prices
February 26th, 2010 Categories: Deer Valley®, Hotels & Lodging
Deer Valley Montage Prices Released!
After years of waiting, you can finally put your name on one of Deer Valley’s most exclusive addresses!
The residences at Montage Deer Valley were just listed across the Park City MLS. You’ll find the Montage Deer Valley residence listings here:
Montage Deer Valley Residences for Sale
As we described in our Montage Deer Valley First Tracks article a couple of weeks ago, owners of the first 15 Montage Deer Valley Residences will receive 20% discounts off the published list prices.
So, when you browse residences on the above link, deduct 20% off the listed prices to reveal the limited-time only “first tracks” prices.
Montage Deer Valley Floor Plans
The developer of Montage has graciously extended an invitation to readers of our Park City Real Estate Blog to gain insider access to their library of online floor-plans and maps.
This insider access will allow you to quickly and easily explore the amenities and locations of all of the Montage Residences.
If you would like us to establish insider access to the library, please enter your info here:
Related Articles:
Montage Deer Valley Sales Update Spring 2011
Montage Deer Valley Utah Location
Montage Deer Valley Residences For Sale
Montage Deer Valley Floor Plans
Montage Deer Valley “First Tracks” Prices and Incentives
Deer Valley Montage Hotel
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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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