Liquidation sales from a destination club?

Sheldon Good is auctioning off 7 properties, at least several of which are "normal" properties from a destination club. Can anybody identify the club?

http://sheldongood.com/highcountry.php

Happy Hunting
Bill


To bad destination forums isn't alive....

Hmmm...starts with an "H" and ends...with a "C"...?

Thanks for the link.

wow - opening prices seem pretty reasonable!!!

News travels fast

Stay tuned...

vineyarder said:

wow - opening prices seem pretty reasonable!!!

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I think the opening prices are a lure for more eyes to look at - they will go for much more than that

I am down at Aviara for a few weeks and will pop over to La Costa ( mainly as I have never really done much exploring over there - just a quick drive thru and will catch an open house.

Interesting that front page of business section of SD Union-Tribune has article on 'issues' with La Costa and problems ( like many other hotels face down here in this slower economy )

Greg

ps - http://www.signonsandiego.com/news/2010/feb/18/la-costa-resort-debt-sold-at-big-loss/

and http://www.kslresorts.com/

Some big name resorts in this portfolio - curious to see the problems in companies that restructured in 2005-06 era - this like so many others ??

Hi
Ran thru just now - surprise - you can only see the 2nd bedroom - as the main unit is rented this week . A fairly polished young woman Realtor who originally sold the unit to HCC was showing. She mentioned that several existing unit owners are looking to bid to upgrade their holding ... would expect unit to sell for $900,000. Remember - this is a condo-hotel - owners have 120 days usage and rest is back in rental pool ( that explains why the unit was almost ever available to use as a HCC member ).

These are tightly packed units - small balcony with zero view of anything. The 2nd bedroom looked OK and was nicely done - all units are maintained by La Costa - all are the same.

Didn't get a change to see shared items -like gym etc - at this point we are happy with our multiple weeks at Aviara - vs any thought of La Costa.

$20 for the downloadable info package - wow - when you print that you will kill a few trees.

Anybody been to the ski units ???? Those will get a much bigger price than La Costa one would guess.

Greg

It costs $20 to download the bidding package then you have to pay $75 upfront in order to proxy bid and then there is also a 10% buyers premium. I was thinking of the La Costa property but it will probably go for much more than I am willing to spend. Dos amyone know if there is a way after the auction to find out the seliing prices?

I've heard that the Mammoth condo sold for $390k (which is too much, IMO).

Ken555 said:

I've heard that the Mammoth condo sold for $390k (which is too much, IMO).

Click to expand...

- 1600 Broadway, Unit 10E, Times Square, New York, NY [1BR]
- 1470 Masters Boulevard, Unit 311, ChampionsGate (Orlando), FL [3BR]
- 120 Tip Top Trail, Unit 6537, Keystone, CO [3BR TH-style]
- 65 The North Road, Breckenridge, CO [4BR SFH]
- 74 Cresta Road, Unit 306, Arrowhead Village/Beaver Creek, CO [2BR]
- 1111 Forest Trail, Unit 1121, Mammoth Lakes, CA [2BR]
- 2006 Costa Del Mar Road, Unit 2, Carlsbad, CA [2BR]

i guess we can check property records in a little while?

Does anyone know what the HCC Redhawk unit sold for?

HCC autioned off a unit in the Red Hawk area in Keystone, these units are priced at fair market vaule between 999,000 to 1.5 - so I seriously dobut that the Keystone Red Hawk unit sold for anything less then 1.2 - anyone hear what it sold for or if they held the property?

Floridaski said:

if they held the property?

Click to expand...

for all 7 properties >

SUGGESTED OPENING BID: $150,000
TO BE SOLD ABSOLUTE REGARDLESS OF PRICE

Click to expand...

so would have to imagine they all sold.

although what does "suggested" mean?

http://www.proxibid.com/asp/Catalog.asp?aid=25466
lists all as sold. hmm, could that site have been watched live?

This lists Settlers Creek not Red Hawk

This Keystone property is Settlers Creek, which is not slope side. It is still very nice, but not anywhere near the 1.1 to 1.5 price range - it could be purchase for MUCH less. Perhaps they have not put Red Hawk up for sale, we are on our way out to Summit County. I will have our real estate agent look to see if it is listed on the MLS.

Does anyone know what unit number the Red Hawk property was? I bet it is listed traditional MLS.....

If not it might make a great buy, they are doing some things in Keystone that make this specific property interesting....

201 Hawk Circle, Unit 2332

it was on market 1.5 years ago >
http://www.summitcountyrealestate.c...ort1=ListPrice&SortPrice=desc&keyword=redhawk

seems like deed was just transferred to bank last month. (and for another property 5 months ago.)

there are two other properties listed as foreclosure under christian kirschner, to have bankruptcy sale in 2 weeks?

Thanks - I will have our agent look at it...

I will have our agent look this up, if it was listed at 1.1, 18 months ago - it may be below 1 at this point in time. But, there are not many 4 bedroom units in Breck or Keystone - so there may still be a premium attached due to size. Also, it would require some cash to neutralize some of the decoratoring choice - why people do this is beyond me.

But thanks for info on the unit number - that was what I was looking for!

Former HCC Red Hawk Townhome

Floridaski said:

If not it might make a great buy, they are doing some things in Keystone that make this specific property interesting....

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I have stayed in the former HCC Red Hawk Townhome. It is within a comfortable walk to the Gondola, though across the muddy/icy Hunki Dori parking lot.

What things are they doing at Keystone that make this townhome interesting? I know that there was a plan to build a Marriott on the site of the Hunki Dori lot, but who knows when the markets will improve enough to go ahead with that. Do you know what the walking access will be from the Red Hawak area once the construction has started?

Would like to know the interesting things they are doing at Keystone.

By the way, this winter, Keystone seems to have missed most of the big snows.

Does anyone know how the HCC auction went?

I sat thru a Sheldon Good auction for Teton CClub ( search TUG MB ) and it was painfully slow ...came close to bidding but when final units came up they abruptly ended it ( knowing up bottom feeders where still present ? )

Love to hear if anyone participated

Greg

GregGH said:

I sat thru a Sheldon Good auction for Teton CClub ( search TUG MB ) and it was painfully slow ...came close to bidding but when final units came up they abruptly ended it ( knowing up bottom feeders where still present ? )

Love to hear if anyone participated

Greg

Click to expand...

I followed that auction very closely, but did not bid. I was seriously interested, but couldn't bring myself to actually bid on anything. There were some good deals, however.

Steve

Does anyone know what the La Costa unit sold for- I was thinking of bidding on that.

Some Sales Prices

From Sheldon Good:

5 of the 7 properties for the High Country Auction have closed.
They are:

ChampionsGate, FL - $418,000
Keystone, CO - $517,000
Breckenridge, CO - $722,700
Arrowhead, CO - $588,500
Mammoth Lakes, CA - $429,000

That dollar amount is the Total Purchase Price.

Looks like some decent deals.

Cattledog

thanks!

$418,000 - 1470 Masters Boulevard, Unit 311, ChampionsGate (Orlando), FL [3BR]
$429,000 - 1111 Forest Trail, Unit 1121, Mammoth Lakes, CA [2BR]
$517,000 - 120 Tip Top Trail, Unit 6537, Keystone, CO [3BR TH-style]
$588,500 - 74 Cresta Road, Unit 306, Arrowhead Village/Beaver Creek, CO [2BR]
$722,700 - 65 The North Road, Breckenridge, CO [4BR SFH]
($2,675,200)

http://www.sheldongood.com/index.php?page=caseStudies
"SOLD AT AUCTION: $4.3 million"

wonder whats going on with these. 4.3 - 2.7 = $1.6mm
- 1600 Broadway, Unit 10E, Times Square, New York, NY [1BR]
- 2006 Costa Del Mar Road, Unit 2, Carlsbad, CA [2BR]

Kagehitokiri2 said:

wonder whats going on with these. 4.3 - 2.7 = $1.6mm
- 1600 Broadway, Unit 10E, Times Square, New York, NY [1BR]
- 2006 Costa Del Mar Road, Unit 2, Carlsbad, CA [2BR]

Click to expand...

Maybe these are in the parcel of properties being sold to Phoenix? (I had this info but don't remember where I put it).