Rich Sontag, Managing Director at Promontory spoke at our weekly sales meeting on Tuesday about their active real estate market and introduced a new homesite release. In 2013 there has been 21 homes sales and nine homes are currently pended, along with 28 homesite sales and eight homesites pended. The average price of the closed homes has been $350 a square foot. According to Sontag, " the value phase on the resale inventory at Promontory has ended".
Over the years approximately 800 homesites have sold in Promontory but there are some parcels that remain. The Developer is releasing for a limited time 25 select homesites at special pricing ($195,000 t0 $333,333) in the Palisades and Northgate sub-divisions. These homesites include a fully sponsored Promontory Club Membership valued at $150,000. Indication of Interest Reservation Holders will be considered a priority and become "Prospective Members" who are eligible to review the offerings in advance and purchase a specially priced Release Homesite during the Selection Period prior to these homesites being offered at these prices to the general public. There will also be additional benefits for the Indication of Interest Reservation Holders. To arrange for "Prospective Member" status, one must complete a Non-Binding Indication of Interest Reservation Agreement with a $1,000 deposit which is fully refundable any time you choose to cancel. The public Selection Event is October 5th, so if you have any interest you should act now to receive the best pricing including an additional 5% discount if you buy during the Preview Period.
For further information please contact Mary Leader at mary@ligety.com.