Okay folks, this week looks like it could be key in the Promontory bankruptcy hearings. Today was the deadline for objections to Promontory's Disclosure Statement, and on Thursday and Friday the Court will determine the adequacy of the Disclosure Statement.
We're back from our turkey induced coma and our little trip to Florida to see Rob's family. Now we know you've been waiting on pins and needles for info on Promontory and a Market Update...so here it is already! ;)
Our market did not have much activity over the Thanksgiving period, but we did see 18 properties come on the market, 2 properties go under contract, and 8 close escrow. The notable ones are:
ACTIVE:
-Old Town lot at $500,000....nice lot that seems like the sellers are motivated
-Deer Valley home in Hidden Meadows at $1.988m; 5bd/5ba, 4355 sq ft, $456psf...not a bad starting point for a Deer Valley home.
-Deer Valley home in Upper Deer Valley at $3.75m; 6bd/7ba, 5445 sq ft, $688psf...seems a little steep, but the access to skiing and views up there are great.
-Promontory lot in Aspen Camp at $390,000....this looks like less than they bought it for!
PRICE CHANGE:
-Deer Crest home down $1.8m to $6.8m; 6bd/9ba, 12527 sq ft, $543psf...not a bad ppsf, and a significant drop.
-Promontory home down $200,000 to $2.77m; 4bd/4ba, 5096 sq ft, $655psf....still on the high side in Promontory.
CLOSED:
-Townhome on Park Ave at $440,000; 2bd/3ba, 1400 sq ft, $314psf....still looks like a good deal for the Seller!
-Escala Lodges unit at $823,500; 2bd/2ba, 1185 sq ft, $694psf.
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