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Hunter Chase, Heather Moore lots up for auction
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From Hunter Chase
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If I remember the details correctly, a large number of the lots in Hunter Chase and Heather Moore are going up for auction on the 27th at the Utah County Courthouse at 11:00 AM. This is due to the bankruptcy of Alderwood Homes who owned and was going to build on these lots.

I've seen a number of investors with wide eyes driving through the neighborhood looking at these lots, so there will be some competition for getting them. The actual details of the auction are posted at the lots on small fliers. The ones I have seen were attached to the small green utility boxes on each lot. Anyway, I just thought I'd post this here in the hopes that someone might refer real people to build on these lots instead of seeing them all go to investors who would just immediately put them up for sale.

Posted on: 2007/3/21 12:36
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Re: Hunter Chase, Heather Moore lots up for auction
Home away from home
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Out of sheer curiosity I went down to the auction today just to see what kinds of prices investors or others were willing to pay for these lots and homes. Bear in mind that several of the "lots" up for sale have homes built on them in various stages of construction. Basically the low end that the lots went for without homes on them was 105 and the high end for lots in Heather Moor with homes built and nearing completion was 244. I would say the median price for the lots with homes on them between the two neighborhoods was around 170-180.

It is worth noting that all of the homes that were partially constructed had liens on them. I didn't do any research before heading to the auction, but some furtive glances at the lists of the investors around me showed some lots with liens totaling above 50000. I'll be interested to see how these investors intend to flip the lots and what prices they'll be looking to obtain.

You never can tell, but it appeared to me that there were only one or two bidders who may have actually wanted to live in the homes rather than sell them, and they were quickly bid out of the price point they wanted.

If you are interested in a specific lot number let me know and I'll be happy to email you the final auction price.

Adam

Posted on: 2007/3/27 13:38
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MORE lots up for auction
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2010/1/31 17:37
From Hunter Chase
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It looks like they didn't sell all of the available lots last week. I just noticed a flier on the lot next to me. I scanned it and posted it below. Click on it to view a larger more readable version. This auction will be April 24th at noon at the Fourth Judicial District Court building in Provo.

Attach file:



jpg  auction.jpg (290.11 KB)
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Posted on: 2007/3/31 12:01

Edited by Roger on 2007/3/31 12:32:55
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Re: Hunter Chase, Heather Moore lots up for auction
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Adam:

My realtor printed out a listing on the MLS for a home under construction for sale in Lehi, in the Hunter Chase Phase 3 lots. I'm confused how they can list a property for sale on the MLS with a fixed price if the lots are being auctioned? Is it really being auctioned then or does somebody already own it and trying to flip it?
I am very interest in knowing about Lot #22 in Traverse Mountain, 4412 Fox Trail Dr. - If you know of any info that would be much appreciated. Better yet, if someone can take pictures of the partially complete home and email them to me, even better! I am looking for a property as my "primary residence" and I'm not looking to turn around and flip it! I am however looking for a property that will apreciate rather quickly in equity so I can take out a second in a year or so to do a great deal of landscape and hardscape if necessary.

Any Info is greatly appreciated,

Email at: AirForce1Engineer@yahoo.com

Kind Regards,

David

Posted on: 2007/4/8 11:44
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Re: Hunter Chase, Heather Moore lots up for auction
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2006/12/4 16:03
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David,

I believe the lot you've mentioned was purchased at the auction a few weeks ago. My guess would be that it is being flipped on MLS by the buyer at the auction. I live on Foxtrail Circle and would love to see real people finish and move into one of these half built homes, instead of seeing it passed from investor to investor. If I can I'll swing by later today and snap a picture of the outside for you.

Posted on: 2007/4/8 17:12
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Re: Hunter Chase, Heather Moore lots up for auction
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Jen:

That would be great! My wife & I and our 2 yr old son live in Southern California at the moment, but are looking to move out to Utah in the next few months due to my clients there. I've already been pre-approved for a GMAC VA Mortgage and I think this could be a really good deal. I don't know how it works when you buy an unfinished home, I assume my lender has to approve the purchase and add funds to complete the home? It would be a fun adventure though as I love getting involved in the construction of homes. I will be getting in touch with my lender & Realtor tomorrow to check into this property. I am very interested in this project due to the size of the home.

Thanks for any help you can provide!

Kindest Regards,

David & Mahin

Posted on: 2007/4/8 22:40
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Re: Hunter Chase, Heather Moore lots up for auction
Quite a regular
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David and Mahin,

Here are a few pictures of lot 22. Good luck with working everything out. Let us know how it goes!

Jen

Attach file:



jpg  DSC01065 (Custom).JPG (26.39 KB)
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jpg  DSC01068 (Custom).JPG (33.17 KB)
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jpg  DSC01069 (Custom).JPG (36.62 KB)
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Posted on: 2007/4/9 19:45
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Re: Hunter Chase, Heather Moore lots up for auction
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Jen & Others:

Thanks so much for the pictures, you are too kind to have done this for us! I spoke with my Realtor today and he advised me that a Developer bought all of them and is going to complete the homes and resell them. So, I'm not sure how I would purchase this home now. If I wait for the developer to finish and sell them, it will price me out of buying it, because he'll probably want over $300K for it. I am thinking who cares if a developer bought it, I could buy it from the developer, but how? I'm not sure who the developer really is who bought them. Anyhow, the saga continues, so we shall do some more investigating and find out more if we can.
If anyone knows who the developer is who has purchased the unfinished homes, I would be very grateful to know that info. Maybe someone can steer me in the direction of who may be willing to sell one these unfinished homes. Part of my interest in purchasing this home is the fact that I work for a Air Conditioning Manufacturer and would like to pipe and duct my home out the way I want to and zone it out with our latest and greatest equipment, as well as pre-wire the home for surround sound and home theatre. It's more difficult to do once the home has the dry wall up! LOL
Anyhow, I ramble! Thanks again Jen, we appreciate your help and if you hear of any rumours or info, please send them our way so we can check the info out first hand.

David & Mahin

Posted on: 2007/4/9 22:16
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Re: Hunter Chase, Heather Moore lots up for auction
Home away from home
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David,

If you are looking to purchase an unfinished home, maybe the auction on the 24th that Roger posted earlier would be a good option. I don't know exactly what the inventory is that will be auctioned, but it may be a good opportunity to cut the investor looking to flip the house out of the picture.

Posted on: 2007/4/10 8:07
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