Park City Real Estate and Community News

May 14, 2010

Park City Real Estate Auction Update

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!

May 7, 2010

5 Killer Strategies to Get a Great Deal On 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. 

April 26, 2010

Park City Real Estate Auction

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:park-city-real-estate-auction

  • 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!

March 26, 2010

Lookout Deer Valley Home Auction

Let's be clear...lookout-deer-valley-quote3

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-auction-announcement1

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

lookout-deer-valley-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.

March 25, 2010

Park City Real Estate Market Update

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March 8, 2010

Park City Utah Foreclosures Revitalize Local Market?

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...

park-city-utah-foreclosures-2010

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

park-city-real-estate-sales-prices-graph

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?park-city-real-estate-pending-sales

park-city-utah-real-estate-market-closed-sales

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

Feb. 26, 2010

Montage Deer Valley Prices

Deer Valley Montage Prices Released!

mdvresidencesmall

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

Feb. 9, 2010

Montage Deer Valley First Tracks Incentives

Deer Valley Insider ALERT: This is your moment to shine!

Residences are finally available for sale in the Montage Deer Valley!!!

Montage "First Tracks"

montage-next-to-empire-canyon-lodgeHere'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.

Jan. 28, 2010

Montage Deer Valley Residences

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

montage-deer-valley

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

daly-cornice-small

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.

Jan. 26, 2010

Montage Deer Valley Condos and Residences For Sale Soon!

Montage Deer Valley is poised to offer their first residences for sale in February, 2010.

Now that the Silver Strike Deer Valley condo auction has run it's course...

Deer Valley real estate watchers can shift their attention from the least expensive properties available in Empire Pass to what could be the most-desirable (location, amenities, views, quality) new condos ever released in Deer Valley.

This is the first of a series of articles we will share about the Montage over the next few weeks as we count down the days until the first units are available.  Feel free to hang around and get the details a few at a time, or contact us immediately if you know you are interested and we'll throw you on the fast track!

We took a hard hat tour of the property with members of the development team a couple of weeks ago, and the Montage is now beginning to trickle some preliminary information about Montage Residences.

Montage Deer Valley Construction Progress

Deer Valley Montage October 2009

While they have been very quiet on the marketing front...

The Montage construction site is bustling with activity like an ant hill.  Did you know there have been 800-1,000+ workers on site every day racing to meet the deadline for the opening of the 2010/11 ski season?

The developer will retain 174 luxury guest rooms and suites on the lower 7 floors  floors of the hotel.

The upper six floors of the Montage Deer Valley will be home to 81 private Montage residences.

Montage Residences

The Deer Valley Montage is an architectural masterpiece.  Not just because of its impressive size--but also because of its complexity.    There are more than 50 different floor-plans among the 81 residences!!!

Owners of Montage Residences will delight in owning something truly unique...not just a cookie cutter replica of the unit above and below yours.

Deer Valley Montage Floor Plans

Montage Deer Valley Location

Montage Deer Valley Location

It sounds like a chore to sort through all 50+ floor plans, but it's easier than it sounds.

We guarantee your enthusiasm for the property will grow as you begin to appreciate the incredible amount of thought and detail that has gone into the planning and design of the Montage Deer Valley.

Our recent tour gave us a good feel for the assorted locations within the building.  Once you begin the exercise, it's just not that hard to narrow your choices.

Residences in the Deer Valley Montage will be offered in phases, and the developer will offer a representative cross section of units with different views, floor-plans, and sizes in each release.

Important Deer Valley Montage considerations:

  • Furnished or unfurnished?
  • How many bedrooms?
  • Want to rent your Montage residence or not?
  • Views up the ski mountain or down-valley views?
  • Thru-views?
  • Amenity acces within the building (close to owners lounge, restaurants, etc...)
  • Morning or afternoon sun?

Montage "First Tracks" program to be announced soon!

If you would like details about the Montage "First Tracks" program, including specific units available and incentives for being a pioneer in the project, please complete the form below...

Related Montage Deer Valley Articles:

Montage Deer Valley Residences Sales Update Spring 2011

Deer Valley Montage First Tracks Incentives

Montage Deer Valley Residences

Montage Deer Valley Condos Under Construction

Montage Deer Valley Opening Date

Notice:

Park City Real Estate Guide® is neither the listing broker for the project, nor are we an affiliate of the developer or construction company of the Montage.  We are providing you with this preliminary information as a courtesy only, so that our readers may seize the opportunity to beat other interested buyers to the most desirable units at the lowest possible prices.  All information contained in this post is subject to change.