The following morning of my last blog on the Silver Baron Condos, not 6, but 12 were purchased by one buyer.
Are speculators back in Park City? This would lead me to say yes. Not like the craziness of a few years ago, but with a little more caution. Luxury Park City Real Estate in Lower Deer Valley is still in demand. The brilliance in this purchase was for the fact that Deer Valley owns the remaining ERU’s (Equivalent Residential Units) for the entire PUD.Those ERU’s are earmarked for the parking lots in Lower Deer Valley. With the major expense of excavating the lots to build the necessary parking, the construction costs are astronomical.
Thus, in my mind, snapping up some great inventory at rock bottom prices was a great idea.
I am working on…