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Steamboat auction could provide big savings

Thirty units at the Trail Lodge in Steamboat Springs will be auctioned on Dec. 15.

Thirty luxury condo units in the Trail Lodge in Steamboat Springs will be auctioned on Dec. 15, with starting prices as low as $95,000 on some units.

The fully furnished units previously had been priced from $440,000 to $1.375 million. The starting bid prices at the auction, being conducted by Kennedy Wilson of Beverly Hills, will be as much as 82 percent below the original asking price.

“Trailhead Lodge is the cornerstone of the 47-acre master planned community of Wildhorse Meadows, set in the heart of Steamboat Springs only residential resort neighborhood,” said Rhett Winchell, president of KW Auction Group.

“The unique combination of direct mountain access and unrivaled neighborhood amenities makes this auction the ownership opportunity of a lifetime,” Winchell said.

The 86-unit, six-story  Trail Lodge was completed in 2009. The Bavarian-style building is near the Wildhorse Gondola, providing ski-in, ski-out access.

In the spring, Kennedy Wilson auctioned 39 units for a total of $9.5 million.

“This is a close-out auction,”said Marty Clouser, a senior vice president of the KW Auction Group.

“The seller is using Kennedy Wilson’s pro-active marketing approach to offer and sell the remaining homes at Trailhead Lodge,” Clouser said.

He said the auction represents an “excellent opportunity for someone to purchase a home of their choice at a price they want to pay. The seller benefits by closing out the project at market prices thereby reducing or eliminating ongoing carry costs. It benefits buyers and the seller. This is not a distress sale.”

Units range in size from 461 square feet for a studio to 1,430 square feet for a two-bedroom, two bathroom unit with a den.

Each unit features large private balconies, flat-panel LCD televisions, GE Profile stainless steel appliances, oversized windows, floor-to-ceiling natural stone fireplaces and walnut flooring.

The pool is one of the amenities at the Trail Lodge, where opening bids start at $95,000.

Aesthetic touches include granite, slate, travertine and iron accents.

The auction will be held at 1 p.m. at the Sheraton Steamboat Resort, 2200 Village Inn Court.

Bidders unable to attend the ballroom auction in person can either attend the auction at a satellite location at the Denver Marriott City Center, 1701 California St. in downtown Denver, where they can hear and watch the live auction on a large screen and place bids or place bids through Kennedy Wilson’s Live Online Bidding platform where Kennedy Wilson will broadcast the entire event over the internet with real time audio and video of the live auction.

At the previous auction, parties came came from more than two dozen states and several counties.

“Owners originate from many states including Colorado, Texas, Illinois, Pennsylvania, New Hampshire, Arkansas, California and Rhode Island,” Clouser said.

“It is not unusual in our auctions to have buyers from different states throughout the country…plus international buyers from Asia, South America and Europe. We anticipate similar results for this auction.”

Successful bidders can qualify for as much as a $3,000 credit non-recurring closings costs. The special incentive is detailed in Kennedy Wilson’s auction brochure.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.