Silver Baron Lodge Park City, Utah

Silver Baron Lodge Park City, Utah - Trustee Sale

By Todd Anderson

Apr 15, 2011

Silver Baron Lodge Park City, Utah - Trustee Sale April 15, 2011 The courthouse steps auction of 16 developer owned units of the Silver Baron Lodge in Deer Valley, Utah took place yesterday at the Third Judicial District Court in Summit County, Utah.

While the sale did produce many onlookers, it did not have many registered buyers. Buyers were required to submit certified funds of $25,000 to the trustee before the sale and the purchase price was due at the end of the day Friday. These requirements likely kept many potential bidders away from the sale. In the end, two units were purchased by bidders offering more than the initial offer from the bank. The four bedroom five bath penthouse model with expansive private rooftop deck was purchased by an investment group. The Silver Baron penthouse model was listed for sale in 2008 for $2.15M. The other Silver Baron condominium that sold to interests outside the bank was the two bedroom model located directly below the penthouse; it had an original asking price of $1.25M.

The fourteen Silver Baron condominiums which are now bank owned will likely be available in the very near future. A look at the area comparables while adjusting for differences in the subdivisions would indicate that anything under $400 per square foot represents a great value at the Silver Baron Lodge (the least expensive active listing is currently $425/sq ft and the most recent comparable sale sold at $451 per square foot).

For more information about the Trustee Sale of the Silver Baron Lodge developer owned units and information regarding purchasing condominiums at the Silver Baron Lodge or any other Park City, UT area property contact a real estate professional with the YouInParkCity.com Group of Keller Williams Park City at (888)968-4672.

Tags: auction, lodge, Park City, silver baron, trustee sale, Utah
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Park City Real Estate Auction

By Todd Anderson

Feb 15, 2010

The successful auction of property at the Empire Pass area in Park City has spurred another Park City area real estate auction. The Lodge at the Westgate announced last week that it will hold an auction to sell 44 of its whole ownership condominiums on the 28^th of March. Like the auction held last month, the developer has set minimum bids for the units at slightly below half of the current asking prices. Units are being offered with a minimum price starting as low as $149,000 for a 360 square foot studio. Models range up to a four bedroom four bath penthouse with a minimum bid of $995,000. If the auction at Silver Strike in Deer Valley is any indication, prices will be bid up only modestly and other real estate sales near The Canyons Resort will likely be on hold as Buyers and Sellers wait to see the final results. Prices in the Empire Canyon area of Deer Valley are still adjusting after the auction held there last month. The auction at The Lodge at the Westgate Park City should pique the interest of many with national advertising in Sunday's Edition of the New York Times and other metropolitan areas. The initial bid pricing for the units places them near the asking prices of property resales at Silverado and lower than offerings at the nearby Sundial Lodge and Escala Lodges. Determining the value of The Lodges at Westgate isn't easily done due to the number of available condominiums near The Canyons Resort. While the Westgate is not a true ski-in, ski-out property, the amenity package that the Westgate offers is impressive. The prices of all condominium property near the base of The Canyons as well as the fate of the still to open Sunrise at Escala will likely be impacted by the auction. For more information about real estate near The Canyons Resort and to discuss the likely impact of the upcoming auction at The Lodges at The Westgate Park City may have, contact a professional with YouInParkCity.com.

Tags: auction, Deer Valley, Empire Pass, Escala, lodge, ownership, Park City real estate, property, resort, silverado, sundial, The Canyons, westgate
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The Chateaux at Silver Lake

By Todd Anderson

Oct 06, 2009

The Chateaux at Silver Lake in Deer Valley is a fantastic option for people who are considering the purchase of a condominium in Deer Valley and want the potential for rental income. The home owners recently signed a contract with the Stein Eriksen Lodge to manage the property which, in my opinion, makes the future even brighter. When a client is interested in generating rental income one of the key factors I look for is the ability for a property to generate revenue on a year round basis. Obviously the Chateaux at Silver Lake's location at mid mountain in Deer Valley generates winter revenue. But what about the spring, summer and fall? With over 9,000 square feet of meeting space the Chateaux has the ability to attract meetings, weddings and other special events throughout the year. Contracting with the Stein Eriksen Lodge will go a long way toward enhancing the perception of the Chateaux in the mind of meeting planners. Convention services, banquets and room standards will all go up a notch. Under the watchful eye of the Stein Eriksen staff the Chateaux's impressive amenities and services which include a large atrium lobby, on-site check-in, evening turndown service, concierge and bell services, complimentary wireless service in each guest room, outdoor heated pool and hot tub, fitness center, specialty shops, underground parking and a gourmet restaurant and lounge will all shine a little brighter. Another asset that the Stein Eriksen Lodge brings to the Chateaux is an experienced sales and marketing team. These people have been working for years developing relationships with groups that appreciate what Park City and Deer Valley have to offer and demand the high level of service and attention to detail that Stein's provides. This group will hit the street running and should have an immediate and positive impact on rental income for those fortunate enough to own a condominium at the Chateaux at Silver Lake. Rob Harris http://youinparkcity.com/

Tags: chateaux, condominium, Deer Valley, income, lodge, Luxury, Real Estate, rental, silver lake, stein, stein eriksen
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Park City Utah Real Estate Trending Upward (?)

By Todd Anderson

Aug 19, 2009

The Park City real estate market place has been showing recent signs of increased activity. Most REALTORS® in Park City and Deer Valley will tell you they feel that things are getting better. Sales figures for the Park City Board of Realtors may or may not support this feeling. The month of July had 69 closings within Park City and approximately the same number outside the Park City zip code (Kamas and Heber Valleys). Park City area real estate sales totaled nearly $70M for the month while sales in areas outside of Park City (but through the PCBR) totaled about $12.5M. The sales figures represent an increase of approximately 50% over the same time last year. This quick glance will no doubt be the sound bite for the Board of Realtors. Upon closer inspection, the numbers remain strong, but maybe not quite as robust as they seem. Closings of recently completed construction account for $20M of the total -one closing of a newly built home in the Paintbrush subdivision of Empire Pass at Deer Valley accounted for over $11M of the total. Closings at the newly completed Dakota Mountain Lodge at The Canyons Resort accounted for over $9M and should be even larger in the month of August. Without the new construction closings (most of which were put under contract in 2007), sales figures for July are not as strong. Yet the numbers are still larger that a year ago. Other positive market signals for Park City and Deer Valley are that sales have been dispersed through all portions of the market. Not everything that has sold has been distressed and lower priced home inventory. At least 10 of the real estate sales completed in July were for over $1M and were not distressed or new constructions including a $5M home in the Bald Eagle subdivision of Deer Valley. Outside Park City sales volume was up by 30% from last year with total dollar volume slightly down. This illustrates that there may be stronger deals in the outskirts of Park City. Outlying areas have definitely seen larger price variations. Overall, the Park City real estate market has shown an uptick for the last month, and pending sales for the last two weeks total over 50 potential sales. Buyers and Sellers in Park City and Deer Valley are finding common ground and making deals. Each neighborhood and subdivision is different as are the pressures on individual Buyers and Sellers to better understand if it is the right time for you to buy or sell Park City & Deer Valley real estate, contact your local YouInParkCity.com realty professional. .

Tags: Dakota, Deer Valley, Empire Pass, inventory, lodge, market, Park City, Real Estate, realtors, realty, sales
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Real Estate News: Park City, Utah

By Todd Anderson

Jul 20, 2009

St Regis, Dakota Mtn Lodge, Treasure Hill, Summit Research Park and more As the funicular cars fro access to the new St Regis Hotel at Deer Crest in Deer Valley were set to be installed (Friday July 17,2009), local radio station KPCW was airing a story about a Deer Crest residence owner suing the project and its developers. The radio report indicates that the owner of a home and lot in the lower portion of Deer Crest near the base of the Jordanelle Gondola at Deer Valley Resort has brought a lawsuit against the developers of the St Regis claiming that the developer has improperly changed the original documents pertaining to the parking and access to the hotel at Roosevelt Gap (above the Lower Deer Valley area of Park City, Utah). The complaint stems from the parking that now exists at the hotel and the employee parking lot and shuttle to the hotel from the base area near the gondola. The Deer Crest home owner claims that traffic impacts on the private road through Deer Crest (Deer hollow Rd.) due to the employee shuttles, taxi and limousine service, and service/delivery trucks is outside the scope of the original guidelines for the area and that changes to the guidelines were made improperly. The St Regis at Deer Crest developers have counter-sued claiming that all changes were made legally and stated that the filing was an attempt to gain access to the amenities of the hotel by the property owner. In other Park City real estate news, the new Dakota Mountain Lodge at The Canyons Resort in Park City opened its doors for business. The Dakota Mountain Lodge is a part of the internationally renowned Waldorf-Astoria Collection luxury hotels. The Snyderville Planning Commission has approved guidelines for the Summit Research Park. The research park is an 89 acre development in the Kimball Junction area of Park City just off hwy 224 near the I-80 interchange. The development is scheduled to begin work soon with some road improvements designed to improve traffic flow around the Landmark Dr. Area. The development of the research park with the housing and business construction around it has a possible 20-year build out. In other planning commission news, the Park City Planning department is scheduled to hear more on the Old Town area Treasure Hill development. This possible large hotel and residential development on the southern hillside above Old Town appears to be moving forward. The fact that there are major projects finishing up, under construction, and being planned for the near future are positive signs for the future value of real estate in Park City and Deer Valley. These developments will have impacts both positive and negative for many other Park City area communities and developments. To discuss possible recent and future development impacts on your property or future property purchases, contact a YouInParkCity.com Group REALTOR® with Keller Williams Park City Real Estate.

Tags: canyons, Dakota, Deer Crest, Deer Valley, home owner, hotel, kimball junction, lodge, Luxury, mountain, Park City, planning, property, Real Estate, research park, resort, st. regis, treasure hill
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