Promontory is a single of Park City's substantial conclude golf system developments, and also the biggest. The Ranch Club is a six,500 acre, ten sq. mile progress fitted with substantial conclude serious estate, two eighteen gap golf courses, equestrian heart, and several more features. This is a non-public gated neighborhood featuring courses from Jack Nicklaus and Pete Dye. Both equally are great but difficult courses. Promontory is in just ten minutes of Park City, The Canyons, and Deer Valley Ski Resorts.
For the duration of the serious estate boom in Park City, Promontory was a single of the busiest areas about for new homes in Park City. Multi-million greenback homes have been getting made remaining and right with no conclude in sight. The houses crafted in this location are some of the maximum top quality homes in Park City. Spec homes, cabins, and other big houses have been heading up in history time.
But when the housing current market started off to crash, so did the prices in the location. The progress itself went by way of some hard periods in the very last handful of many years as very well with some possession struggles all through the many years, amongst other factors. The even further the current market slowed, the more homes bought remaining below construction when the revenue ran out, or have been remaining sitting on the current market with no potential buyers for that selling price place any more.
This leaves us to where we are today. Home prices at an all-time low in Promontory, fifty percent entire homes remaining untouched for at times more than a 12 months, and banking companies having more than houses when the house owners could not get them marketed. We are discovering some of the finest expense chances in all of Park City below in Promontory. Here are some examples of houses on the current market right now in comparison to what they marketed for just a handful of many years ago.
3055 Wapiti Canyon- Short Sale outlined at one.5mil- Detailed in 2008 for 5.4mil
6489 Dakota Path- REO outlined at two.3mil- Detailed in 09 'for 4mil
Past thirty day period there have been three homes in Promontory that marketed for Under $ 800,000. And several more bank owned homes that have been outlined for a handful of hundreds of thousands pounds in many years earlier now offering for right about one million. The expense chances out there right now on these distressed houses is the finest we have noticed in a extensive time. E-mail possibly Stan or Ben to locate out more information on houses in the Promontory location. Indication up at Or Www.ParkCityForeclosures.com