Shadow InventoryFebruary 6, 2011
The Pleasure Is Worth All The PainFebruary 11, 2011
Wow. That was fast. It only took 27 days to close on the first two building lots in the Elk Creek Ranch development in Fairfield.
These bank owned lots were taken over recently by Mountain West Bank. We listed the lots very aggressively. The prices were realistic and based on current market conditions. That’s why they sold so fast.
The day I listed the package of 7 lots, I recieved multiple offers. Plus, I had interest from a party to purchase the entire package.
The lots sold for asking pricewhich was $25,900 each, without any negotiations. Again, because they were priced at market rates.
Elk Creek Ranch is a great little development in rural Camas County. Just east of Fairfield by about 7 miles. Nice lots from 5 to 9 acres. The general area is a very beautiful part of the Camas Prairie and offers great recreation, room to spread out and an easy commute to the Wood River Valley.
The buyers were a local Hailey couple who wanted to purchase the lot as an investment and/or a probably building site for a future home. The other buyer was a relative of the first buyer with the same plan.
Now they have a stronghold on a great piece of real estate that they bought at the bottom of the market.
It’s the ultimate case of buy low, sell high. Interested in the same deal? Contact us today.