Deals In Park City

Scott Maizlish (Summit Sotheby's International Realty) — Wed, 10 Sep 2008 16:53:25 -0700

SEPTEMBER 2008 PARK CITY SPECIAL SITUATIONS REPORT PREPARED BY SCOTT MAIZLISH STATE OF THE REAL ESTATE MARKET IN PARK CITY Since my last report, over 316 Properties have sold in the Park City Area. 102 Homes 77 Condominiums 99 Vacant Lots 31 Fractional Units 7 Commercial Properties In analyzing the latest sales data, I found some information that was interesting. • Single Family Homes sold on an average of just 6% off list price!!! • Condominiums sold on an average of just 5% off list price!!! There are still a lot of great deals out there to be had, and for those of you that are cash buyers and can purchase without any financial contingencies, your leverage is even stronger. Even though sales prices were somewhat close to list prices, there are still a few transactions to note. A 10,000 square foot home in Deer Crest sold for $6.1 Million, and it was originally listed for $6.9 Million. Another Home in Park Meadows listed for $2.448 Million sold for $1.95 Million. As I said in my last report, 95% THE DEALS ARE BEING FOUND IN THE OFFER! Sellers are taking buyers seriously when the dotted line is signed!!! As in any market, there are always due diligence contingencies to protect you! My list is on Page two of this report. Here are a few properties that I would recommend taking a close look at. Again, if they do not fit your criteria, call me at (866) 758 1219, and I will find something that fits your needs. 1. This was on my last report, and it is still a fantastic opportunity. The developer is well financed and can ride out the market. This is a resale that a person needs to sell because they bought a larger unit else ware in Upper Deer Valley. 4 Bedroom 5 Bath Ski in Ski Out Condo, Furnished, built in 2007, Seller priced $200K under what they paid for it, and $225K under the price if you bought from the developer. Asking $2.6 Million, with FULL golf country club, shuttle service, membership included!!! Too many amenities to list! 2. 4 Bedroom 5 Bath Single Family Home in Upper Deer Valley, Amazing Views, fully furnished. A steal at $1.99 Million! I sent this property out to you about a month ago, THIS IS UNDER CONTRACT 3. Lower Deer Valley Condo with Ski Run Views, 4 Bedroom 4 Bath, over 3500 square feet. Fully Furnished, Was $1,285 Million, seller coming into reality and lowered the price to $999K!!! 4. Park Meadows Home Completely remodeled 4 Bedroom 3 Bathroom home with outstanding views. This home was bought by a local builder and redone for their own personal use, and they did a quality job! Asking $1,090 Million 5. Silver Springs Area Short Sale!!! Bring All Offers!!! 6 Bedroom 5 Bathroom Home on a lake all remodeled, this is Blood in the water!!!! Asking $1,250 Million. If you are a serious buyer for this type of property, let’s talk! MULTIPLE OFFFERS ON THIS ONE ALREADY. 6. Promontory new construction, SHORT SALE UNDER $200 Per Square foot, built in 2007!!!! 3 Bedroom 6 Bath, almost 5000 square feet!!! As-is subject to bank approval. Asking 980K!!!! 7. Vacant Land in The Oaks at Deer Valley with views and plans for a 6000 square foot home, lot size is .45 Acres, and the Seller is closing on another property, and must Sell Now!!! Asking just $799K. If you are interested in building a home in one of the most solid locations in Park City, do not let this one pass you up!! A tremendous amount of time and effort has gone into compiling this report, for more detailed information and photos on these best buys, or other Park City Properties, call Scott Toll Free at (866) 758 1219, or Local at (435) 901 4309 maizlish@yahoo.com

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Deals In Park City