Nov

Signs of Life at Promontory and a SCREAMIN’ DEAL too!

Just in the past few days we have seen 2 homes go under contract at Promontory.
Maybe the activity can be attributed to the reorganization plan…but that has not been agreed upon by the court…so then again, maybe not.
None the less, any activity is good to see. I would have to imagine that there is some pent up demand due to people holding off until the bankruptcy is settled….Not to say that the market at Promontory will do a one-eighty when the bankruptcy is finally settled, but I would look for a good bit more activity than what we saw this summer.
People who have been looking for a while know that the project has value, will be a good long term investment/second home, and that now is a good time to be a Buyer in the market at Promontory. Maybe it will take a year for the “blackeye” of the bankruptcy to clear or maybe it will take 3 years…Nobody can predict that with certainty, but over long-term it will be a jam up project.

The two homes at Promontory that went under contract are:
-West View home at $1.599m; 4bd/6ba, 5968 sq ft, $400psf….views of all 3 ski resorts
-Another home in the West View neighborhood at $2.295m; 4bd/5ba, 4500 sq ft, $510psf…nice views here too!

The Screaming Deal is also at Promontory, and in a similar location as the 2 above:

-Short sale at Promontory down to $899,000; 4bd/6ba, 5339 sq ft, $168psf…nice views, backs to open space, easily worth somewhere in the mid-$1m’s, needs landscaping, but an awesome deal!!!