June News

Usually when people hear the word "auction" they think of an event taking place on a farm in North Dakota. They picture livestock on display each with an attached number and a cowboy calling out for bids.

 But with the economy the way it is, the world of auctioning has crept into a variety of sectors. More and more we're seeing homes all over the country going up on the block. And now, even in Vail.

As a result of our poor market, Sonnenalp Real Estate will be auctioning off 6 of our most prestigious listings on July 25th. Prior to that date, these homes will be open to potential buyers for viewing on Wednesdays and Saturdays until July 25th.

This is truly an event that has never occurred in this Valley – at least not on this scale. These are homes that in any other market would have sold for asking price or very close to it, and many now will be sold at extreme discounts.

Here is some basic information about the auction process:

1. Live Auctions set for July 25th
2. Wednesday and Saturday Previews from 2 to 5PM
3. No Buyer Premium
4. Buyer's Broker co-op 2.5%
5. Minimum Bids
6. 30 Day Escrow
7. All Buyers need to  be pre-qualified to participate in auction
8. Successful bidder submits a "Non-refundable Auction Option Fee" to be applied to purchase in lieu of "Earnest Money"
9. Buyers will be responsible for full transfer tax amount (if applicable)
10. Standard Colorado Sales Contracts used with no contingencies
11. On auction day, if a bid comes in at minimum bid price or higher – Seller MUST Sell

You can also go to our new auction website for more photos and information on each of these spectacular homes – www.auctionsvail.com.

I have referenced the "bottom" of the real estate market many times in my last few Enewsletters and stated that no one is sure where the bottom is or when it will occur. I can tell you with tremendous certainty that when luxury homes in Vail start being auctioned off, we've hit the bottom.

Now is the time to invest in the Vail Valley real estate market. This is your chance to get an incomparable home in Mountain Star, Red Sky Ranch, Arrowhead (ski in/ski out) or a ranch in Wolcott for a steal. People always say to me "if you find a great deal let me know". Well…

I AM LETTING YOU KNOW!

Please call me anytime with any questions you might have regarding the auction on July 25th.