Foreclosure Update: June

Published: Fri, 06/17/11


Park City & Deer Valley Foreclosure Update


"Deal-Hunting Secrets For Value Obsessed Investors"

Summer Market Update
Don't tell the national media, but the Park City & Deer Valley real estate market looks stronger every month.  Drastic reduction of inventory--homes, condos, and land--is the obvious trend.



Months of available supply of properties has been reduced from nearly 40 months at the peak of the buyer's market in 2009 down to about 20 months of supply today. 

Foreclosures and short-sales continue to represent about 31% of the recent sales...  
Foreclosure Mini Ranch
Last time we featured a mini-ranch in distress we received over a dozen replies from readers of this update and the property was sold within a week.  If you missed the last one, here's your second chance!

When this property last sold in 2007, the sales price was $1,249,999.  Now it's for sale again at a 44% discount.  There's no way you could find a comparable lot and reproduce this home & barn for anywhere near this price.  For details, please email to [email protected]

You're only about 5 minutes from blue ribbon fishing on the Upper Provo River, and golf at Victory Ranch is nearby...

Which brings us to our next topic
... 

Development in Distress
Victory Ranch was designed to offer the ultimate summer lifestyle: private golf meets world class fly fishing.  The swanky River Lodge is complete, as is the Rees Jones designed championship golf course.  Great idea...bad timing.

The 6,444 acre property is now lender-owned, and now you can buy the whole enchilada for presumably less than the amount of the infrastructure debt alone.  The development parcel has entitlements for over 860 lots. 

Bids must be submitted by July 12th.  Please email us at [email protected] if you want more info about the property and bidding process.

Is Bigger Better?

Every now and then, a home comes along that jumps right off the spreadsheet because the price per square foot is so insanely low ($63!!!).  If you're looking for a home that can sleep an army, and you want top-of-the-world views and over 12 acres of privacy, check this one out...

It's over 26,000 square feet, has an indoor swimming pool, amazing views, and can probably be purchased for less than $1.5M. 

Just think how fun it would be to brag about this to your banker buddies...
For more info please send an email to [email protected] 




Arrowleaf Deer Valley

This is only the 3rd foreclosure with legitimate ski/in-ski/out access we've seen in Deer Valley all year.  And judging by the price (under $950k), it won't last long.

For more info, please email us at  [email protected]  with the subject line "Ski Condo".
Silver Lake Sleeper...

SHARK ALERT:
Properties with walk-to skiing access in Upper Deer Valley are precious.  It's rare we see such an obvious good value.  Here's your chance to grab the least expensive condo in Silver Lake.  To really understand what a good deal this is...it's 31.5% less expensive than the next least expensive 3 br in the area...which equates to a savings of $320,000.

For more info, please email us at: [email protected]  with the subject line "Sleeper".


Find Foreclosures Today:
Bank-Owned Homes Over $1 Million
http://pcmls.com/Pub/EmailView.asp?r=1931091357&s=PKC&t=PKC

Bank-Owned Homes Under $1 Million
http://pcmls.com/Pub/EmailView.asp?r=97215832&s=PKC&t=PKC

Bank-Owned Homes Under $500k
http://pcmls.com/Pub/EmailView.asp?r=1811469878&s=PKC&t=PKC

Bank-Owned Condos
http://pcmls.com/Pub/EmailView.asp?r=1629044008&s=PKC&t=PKC

Bank-Owned Land
http://pcmls.com/Pub/EmailView.asp?r=1673977745&s=PKC&t=PKC

If any of these catch your attention, please email us at: [email protected]
...And we will help you gather all the pertinent info you will need to know.

Going, Going...
To compete with the Silver Strike Auction next door, the Flagstaff condos were discounted 40% by the developer last winter, and the results were spectacular--26 of these beautiful ski-in/ski-out condos sold, and there are only 4 condos left.  So if you're looking for a superb-quality brand-new 3 or 4 bedroom ski-in/ski-out condo in Deer Valley, email us at [email protected] and we'll send you the available units.

Want Help?

If you see a Park City property that catches your attention--whether it's a property featured in this update or not--give us a call and we'll review the numbers together so you can approach your acquisition with confidence. 

Some of the best Park City deals are bank-owned, and some are not.  We track them all... 
Happy Hunting!
Erik
Park City Real Estate Guide®                       
A Marketing Group Of Keller Williams Park City Real Estate
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