Lot in Fox Run, On Market for (1) day receives Multiple Offers: Snowmass Village

Snowmass Village, Colorado:

A Single Family Lot, listed in the Fox Run Subdivision near Two Creeks, was listed on Friday AM, and by that afternoon, multiple offers had materialized.

A strengthening market, or a low priced Listing?

In today’s marketplace, a common practice with Listing Bank Owned Properties, Brokers will induce/entice Buyers by offering properties for significant discounts that generate multiple buyers and then therefore lead to what is known as a “highest” and “best” offer scenario.  This is a situation whereby the Bank creates a response deadline and all interested Parties revise their Offers to their Highest & Best presentation.

Often times, the Listing Agent has the advantage here because they are able to see the other Offers on the table.  Numerous times within the Valley, you have seen Listing Agents also win the Highest & Best offer presentation.  This does not mean that it happens all the time, but in certain cases it has been quite interesting to watch the Bank Owned Listing Broker.

Property Type: RES Vacant Land Address: 919 Fox Run Drive Snowmass Village, CO 81615 Status: Active Asking Price: $747,000
	List Number: 134146 Type: Single Family Lot Sub-Type: N/A Area: 02-Snowmass Village Major Area: Snowmass Village Sub/Loc: Fox Run PUD County: Pitkin Lot Size: 32,001 – 43,000 Lot SqFt: 37,352 Acreage: Refer to Lot Size Nbr of Acres: 0.86 Zoning: Parcel #: 273506217024 Account #: R011787	List Price Per/Acre: 868,604.65 Auction: No FAR: No Parcel #: 273506217024 Taxes: 23,859 Tax Year: 2013 Transfer Tax: Yes Earnest $/%: 5% Earnest $ Payable To: TBD Title CO HOA Dues: 2090 Payment Per: Year Special Assessments: Legal: Subdivision: FOX RUN Lot: 24

Public Remarks: Fantastic Price on a View Lot in Fox Run! This one will not last… $75 BUYER paid Doc Fee Paid at closing ALL OFFERS ARE “SUBJECT TO” AND “CONTINGENT UPON” FINAL REVIEW AND ACCEPTANCE BY THE INVESTOR AND/OR MORTGAGE INSURER. ALL CONTRACTS/OFFERS ARE SUBJECT TO ONEWEST SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY ONEWEST ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIES

Directions: Owl Creek Road to Two Creeks Road to Fox Run Road

Addendum: COBROKERS-ONEWEST IS COMMITTED TO SWIFT AND ACCURATE RESPONSES ON ALL VALID PURCHASE OFFERS. IF YOU HAVE NOT RECEVED A RESPONSE TO YOUR OFFER WITHIN 72 HOURS (NOT INCLUDING WEEKENDS AND HOLIDAYS) YOU MAY CALL 1-877-885-1624 AND LEAVE A MESSAGE IDENTIFYING THE PROPERTY,YOUR PHONE # AND EMAIL ADDRESS, ALONG WITH THE DETAILS OF YOUR CONCERN AND YOU WILL RECEIVE A RESPONSE WITHIN THE NEXT BUSINESS DAY

Short Sale: No REO: Yes Foreclosure: No Access: Paved Agency: Crops: No Documents on File: Disclosures: Electric: No Extras: Gas: Natural Gas HOA Dues Y/N: Yes HOA Dues: 2090 HOA Amenities: HOA Fee Includes: Road Maintenance; Snow Removal Lot Description: Cul-dc-Sac; View; Wooded Lot Mineral Rights: No Possession: DOD Possible Use: Single Family Member Association: Aspen Association Sign: Yes Showing Instructions: Short Notice Sanitation: Sewer Terms Offered: Cash Water Rights: None Water: Agency: Excl Right to Sell

Sold Price Per/Acre: 0 DOM: 4 ADOM: 4 Listing Date: 05/08/2014 Seller’s Name Owner of Record Under Contract Date TB%: 2.5 BB%: 2.5 Variable Comm: No Original List Price: 747,000 Fallthrough Date: Flat Fee: No