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Promontory is one of Park City’s high end golf course developments, and also the biggest. The Ranch Club is a 6,500 acre, 10 square mile development fitted with high end real estate, two 18 hole golf courses, equestrian center, and many more amenities. This is a private gated community featuring courses from Jack Nicklaus and Pete Dye. Both are great but challenging courses. Promontory is within 10 minutes of Park City, The Canyons, and Deer Valley Ski Resorts.

During the real estate boom in Park City, Promontory was one of the busiest areas around for new homes in Park City. Multi-million dollar homes were being constructed left and right with no end in sight. The properties built in this area are some of the highest quality homes in Park City. Spec homes, cabins, and other large properties were going up in record time.

But when the housing market started to crash, so did the prices in the area. The development itself went through some hard times in the last few years as well with some ownership struggles throughout the years, among other things. The further the market slowed, the more homes got left under construction when the money ran out, or were left sitting on the market with no buyers for that price point anymore.

This leaves us to where we are today. Home prices at an all-time low in Promontory, half complete homes left untouched for sometimes over a year, and banks taking over properties when the owners could not get them sold. We are finding some of the best investment opportunities in all of Park City here in Promontory. Here are some examples of properties on the market right now in comparison to what they sold for just a few years ago.

3055 Wapiti Canyon- Short Sale listed at 1.5mil- Listed in 2008 for 5.4mil

6489 Dakota Trail- REO listed at 2.3mil- Listed in 09′ for 4mil

Last month there were 3 homes in Promontory that sold for UNDER $800,000. And many more bank owned homes that were listed for a few millions dollars in years past now selling for right around 1 million. The investment opportunities available right now on these distressed properties is the best we have seen in a long time. E-mail either Stan or Ben to find out more information on properties in the Promontory area. Or Sign up at www.ParkCityForeclosures.com

Stan Fisher RE/MAX Park City http://www.ParkCityForeclosures.com Article Source: http://EzineArticles.com/?expert=Stan_Fisher

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