Second Ski Home Bonanza: Sun Valley ($295K!) Condos Coming Up for Auction

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Update: I now know these are not ski in/out units, but rather walking distance to one lift. Has anyone skied Sun Valley and know where these units are located in relation to the lifts? Personally, I buy a ski condo, I want to be pretty close to the lift. You?

I haven’t seen these units, but they look mighty nice. Perhaps someone from our Second Shelters nation who has seen them can pipe in? The place is Chilali, a luxury development near Ketchum, Idaho. Developers Accelerated Marketing Partners are apparently trying to accelerate some sales because they are offering these units for auction at 55 to 66% discounts over list pricing. The auction will be held February 19 at the Sun Valley Resort. 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. Alas, don’t be a smart-aleck and start with $20: there are minimum bids, ranging from $295,000 to $825,000. Which means you could grab a one-bedroom ski-in/out unit for $295K. Not too shabby, considering the price tags on some of these were $2.2 once upon a time.

The homes have custom hardware, large natural wood-wrapped windows and doors and contemporary lighting. Unobstructed views of the Bald and Dollar mountain ranges, roomy open floor plans with vaulted ceilings and central great rooms.

The one-bedroom unit has a minimum bid of $295,000, which is 58 percent below its previous asking price of $695,000. But get this: a three-bedroom-plus-den home that is approximately 2,793 square feet and has a minimum bid of $695,000.

On-site amenities are plentiful: 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 games; ample resident storage with private ski-lockers; and a full-level of underground parking.

Get ready: we’ll be seeing more auctions like these. It is possible that come 2011, you may find the second home of your dreams at a very reasonable price!

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Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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