"Deal Hunting Secrets for Value-Obsessed Investors" 1-800-485-0218 (USA) 1-435-200-3060 (Worldwide)
Distress Sale Update
Bad news, foreclosure fans. For the second straight quarter, the percentage of distress sales in the Park City, Utah marketplace has dropped significantly...
In Q2 2012 Distress Sales (Short Sales + Trustee's Sales) represented just 17% of the closed sales and only 7.3% of the current active listing inventory. This is down from 23% distressed in Q1 2012, and 27% distressed in Q4 2011. (Statistics courtesy of Rick Klein at Wells Fargo.)
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It's been about a year since the last distress sale in Empire Pass, Deer Valley. Desperation sales of premier ski-in/ski-out properties are very rare these days...
This is a top-floor 2 Bedroom Arrowleaf Penthouse condo that looks out over the Silver Buck ski run at Deer Valley Resort. We toured the condo last week, and can answer whatever questions you may have. Are you ready to act quickly and become the first short sale offer that the bank sees?
We just uncovered a foreclosure in the prestigious Cove neighborhood right near the Park Meadows Country Club. This spacious 5 bedroom home is listed for 16.2% less than the other two comparable homes in the neighborhood...and that's before any negotiation begins!
So why can't you see this property in our automatic Foreclosure Feed???
It's a new ploy either by the bank's asset management company, or the listing brokerage. If the banks discover this tactic, could it spell the end of these firm's foreclosure gravy train of easy sales?
Psst: If you want more info about this property, reply to this email and we'll send you the details asap.
We stumbled across this Park City Foreclosure condo for a shocking low price of $210k. The two most recent sales in the project were for $240k and $295k. Too good to be true?
If you didn't know any better and paid cash for this, you might think you just stole this condo for a great price, right? And then you'll discover the lawsuit the HOA filed against the developer for construction issues, which has made financing these condos all but impossible.
To make matters worse, in a couple of years when you try to resell the condo for market value of $300k and Summit County sues you for violating the affordable housing deed restriction, you might be left saying WTF?!
To protect you from surprises like this, we maintain a file of every tax ID# in Summit County that carries affordability deed restrictions. That's just one of the advantages you get from working with our team--you'll never make a costly mistake like this.
The best deals in Deer Valley aren't always bank-owned. This home is not only one of the least expensive homes in Lower Deer Valley, it has a PREMIER location right across the street from acres of HOA open space. So your view won't change...which you'll appreciate from the floor-to ceiling wall of windows in the great room.
It's a light, bright design with an efficient floor plan, hardwood floors, large master suite, shady outdoor living area in the back, and a handy 3 car garage. The finishes are a bit dated, but it's in excellent condition. If you have been looking for a bargain basement Deer Valley home with great bones and you're willing to update the kitchen and baths, this might be a great project for you?
PS Sorry cynics--it's not even our firm's listing. Just a plain old good deal...
The average asking price for vacant lots for sale in Deer Valley with true ski-in/ski-out access is $2,849,233?
And the asking price for this Deer Crest lot with good views and ski access is $749,000! Somebody grab this one--even if you never have plans to build. There just aren't that many good un-built ski lots left in Deer Valley, as evidence by the average list price for land in Deer Valley today.
And by the time you have the data to confirm that prices have stabilized, you already missed it.
Like you just did...
As you have witnessed over the past year, available inventory of properties for sale in Park City & Deer Valley is down by about 30%. Distress sales are fewer and competition is more fierce.
Pardon our frankness, but what exactly are you waiting for?
Simply lurking out there and waiting for our Park City foreclosure updates isn't enough to know about ALL Park City & Deer Valley foreclosures & Distress Sales.
If you're really serious about finding one of these hidden gems that doesn't make the feed, please call us (Tel. 1-800-485-0218) and share your specific requirements with us.
It might sound old-fashioned, but it will assure you'll be at the top of our list of calls to make when the best distress sale opportunities come along in the future.
We Track Them All...
Foreclosures. Auction sales. Short sales. Distress sales. Good old fashioned motivated sellers.
This investor newsletter goes out to hundreds of potential investors, and we're dedicated to helping each of you succeed...if you give us the chance. But if you don't raise your hand and tell us exactly what suits your family best, we won't know if we stumble across the perfect property for you.
If the timing is right for you to invest in Park City & Deer Valley, we look forward to being your professional resource.
Happy Hunting!
The Park City Real Estate Guide Team
A Marketing Group of Keller Williams Park City Real Estate
