Accelerated Marketing Partners (AMP) Sold 16 Homes Through its Accelerated Marketing Event
and Has Launched Sales for the Remaining Six With Newly Established Price Points
Ketchum, ID (Feb. 28, 2011) – In a groundbreaking, real estate auction for Ketchum, Idaho’s resort city of Sun Valley, homebuyers recently purchased all 11 condominium residences put up for sale
at the Feb. 19 Chilali event. The auction was conducted by Accelerated Marketing Partners (AMP) and in the days since, AMP has sold five additional homes, collectively totaling more than $14 million in
a market that has seen little residential sales activity since 2008.
Minimum bids for the one- through three- bedroom condominiums that sold at auction and immediately following started at $295,000, which was up to 66 percent below previous asking prices. Homes had selling prices ranging from $450,000 to $1.50 million. Pricing for the remaining inventory at Chilali, a luxury, 25-unit development in Ketchum will now be reset to reflect the values that have been determined by the market.
“Accelerated Marketing Partners saw similar success with the Park City, Utah housing market just over a year ago in the area’s first-ever new development auction and now the Chilali auction has again helped establish more amenable prices for consumers looking to buy in second home communities,” said Ken Stevens, co-founder and west coast CEO of AMP. “This event speaks to the fact that people still very much want to buy prime real estate, they just want to feel confident about what they’re paying for it. My colleagues and I truly believe that the auction’s results will help sell out the rest of Chilali and positively affect property in the surrounding area.”
In addition to readjusting market values, the accelerated marketing event was extremely successful in bringing both Sun Valley’s consumer and business populations off the sidelines. Throughout the program, nearly 600 groups of people visited the Chilali auction information center and more than 14,000 unique visitors logged into the sale website. This interest resulted in more than 40 bidders being in attendance the day of, along with several real estate agents who sat by their sides either bidding on behalf of clients by telephone or taking note of the outcomes. AMP conducted a practice session the night before the auction, where potential buyers learned how to bid and were taught the relationship between auctioneer and prospective buyer. All bidders were required to register ahead of time, at which point they were invited to meet with on-site lenders and to thoroughly inspect and tour the residences before bidding at the auction. While no two homes at Chilali are exactly alike, all were designed with meticulous attention to detail and craftsmanship in woodwork, tile and stone finishes. Each classically-styled home showcases high-end elements, including custom hardware, natural wood-wrapped windows and doors and contemporary lighting. There are 25 spacious one-, two-, and three-bedroom homes in total at Chilali, ranging from 1,612 square feet to 3,200 square feet, which offer unobstructed views of the Bald and Dollar mountain ranges. Homes are accentuated by oversized window frames and top-floor vaulted ceilings, feature central great rooms to create a sense of spaciousness and oversized gas fireplaces lined with natural stone to bring warmth to the room.
Residences boast gourmet kitchens featuring stainless steel appliances and full-slab granite countertops. Spacious master baths have separate showers and jetted marble tubs. Extensive on-site amenities include a rooftop, open-air entertainment area, complete with an outdoor barbeque, fireplace and oversized hot tubs; a spacious, state-of-the-art fitness center with top-of-the-line equipment, sauna, and flat-screen TV and a completely amenitized Rec Room with pool table and video games; ample resident storage with private ski-lockers; and a full-level of underground parking.
Situated in a prime spot of downtown Ketchum, designated one of the 100 Best Small Art Towns in America, Chilali is just 11 miles from the Hailey Airport and is only a two block stroll from Main Street, where some of Sun Valley’s best shopping, restaurants, art galleries, theaters, and nightlife can be found. Chilali is also one of the closest luxury property to River Run’s ski-access, which provides easy access to Bald Mountain and offers year-round recreational activities ranging from hiking, biking and fly-fishing to world-class skiing and golfing on one of Sun Valley’s three 18-hole golf courses.
For more information about Chilali and the remaining available homes, please visit www.AuctionSunValley.com or call 208.928.6545.