It looks like the auction that took place in Deer Valley’s Empire Pass Silver Strike Lodge opened the eyes of a few developers around town. In the Silver Strike auction the developer sold the 8 units that were available for auction, set the market price at roughly $750 per sq ft, cleared half the inventory in the development, and then saw a few more units go pending in the weeks after the auction. Just this past week these developments announced they are going
-Lookout at Deer Valley auctioning 7 homes built in 2008-2009. The starting point is $1.65m; 5752 sq ft; 5bd/6ba; $287 per sq ft!!! Talk about a screamin’ deal! These are first class homes, just around the corner from Deer Valley’s Silver Lake Village…which you don’t even have to walk to, because the development has shuttle service to the mountain. Although it is just a 5 minute walk….not to mention the rentals on a 5 bedroom home in Silver Lake tend to average well above $1000/night….not a bad pick up!
Here is an inventory list:
Auction will take place on Sunday March 27, 2010 at the Stein Eriksen Lodge. Registered Bidders are requested to arrive at 4:00PM to check-in. The Auction will begin promptly at 5:00PM. Registration is required.
Financing: A variety of current market rate financing programs are available through Preferred Lenders for all qualified participants. For complete details on financing requirements and conditions for your home purchase, please refer to Lookout at Deer Valley purchase agreement documents.
A Lender consultant from the Seller’s preferred lender(s) will be available via email, phone and on site to meet with bidders to assist with financing.
Amenities:Massive timbers, native stone and weathered copper combine to create a rustic mountain style home. Interiors are warm and inviting with vaulted beam ceilings, wood paneled doorways and massive stone fireplaces. Elaborate gourmet kitchen with custom cabinetry, timeless granite counters and state of the art appliances are found in every home. For more elegant affairs, the dining room with designer chandelier and alpine vistas provide a festive setting. Master Baths are well appointed with double vanities of granite, heated travertine stone flooring and oversized jetted spa tubs.
The Great Room and Family Room offer breathtaking views and more space to relax and enjoy. Private elevators (in most homes), oversized decks and spacious garages enhance the luxury living of Lookout.
The clubhouse provides a relaxing setting for entertaining friends and family outside your home with private owner’s lounge, patio grill and fireplace as well as the lookout tower observatory with its’ spectacular 360 degree views. On-site personal concierge service and private owner’s shuttle are available to enhance this extraordinary style of living.
Contact us for addition information and registration. 435.729.0022 or rob.alday@abodeparkcity.com
-Another development slated for auction is the new 488-unit project at the Canyons, The Lodge at Westgate Park City Resort & Spa…which includes 24-hour concierge service and personal valet service to and from the The Canyons lifts, as well as a full-service, on-site ski and bike shop with private storage lockers and lounge area. The resort also has three pools, including an adults-only indoor relaxation pool and Utah’s largest indoor/outdoor resort pool. The Serenity Spa by Westgate has an indoor grotto, lounges and 17 private treatment rooms; indoor/outdoor pool with sauna, steam room and Jacuzzi; fitness center with dance studio, and basketball and tennis courts. The development also has a business and conference center, library and laundry room and dining at the Westgate bar and restaurant, and on-site marketplace and deli. There is also the Westgate Kid’s Club providing daily activities for children supervised by a professional staff, video arcade and a playground.
The units in the auction include 11 studio homes ranging in size from 360 square feet to 635 square feet, with minimum bids ranging from $149,000 to $249,000. There are 14 one-bedroom homes ranging in size from 775 square feet to 895 square feet, with minimum bids ranging from $295,000 to $339,000. The 14 two-bedroom, two bath homes range in size from 1,126 square feet to 1,135 square feet and have with minimum bids of $449,000. The largest homes are five four-bedroom homes ranging in size from 1,652 square feet to 2,150 square feet, with minimum bids ranging from $795,000 to $995,000. All residences are fully furnished and have balconies or decks with panoramic views of the Wasatch Mountain range.
The event will be held on March 28, 2010 and minimum bids for the homes will range from $149,000 to $995,000, up to 56 percent below last asking prices. Advance registration for the auction is required and on-site conventional financing is available. There are no hidden reserves or buyer’s premiums.
Again, feel free to contact us with questions or inquiries about registration. 435.729.0022 or rob.alday@abodeparkcity.com
Looks like the last weekend in March will be a busy one! It will also be very interesting to gauge the actual health of the market…stay tuned.
Things to Consider...
Related posts:
- Deer Valley is #1 ski resort again and some credit woes…
- Interesting article from Barron’s…10 Best Places for Second Homes…Park City #4
- Park City Real Estate Market Update
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