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Developer will auction Deer Valley condos

(Salt Lake Tribune) In a depressed housing market, one developer has turned to an auction in hopes of finding buyers for ritzy condominiums in a slope-side lodge at Deer Valley.

Ironwood Resort Development has scheduled a Jan. 17 auction -- just days before the Sundance Film Festival begins -- to sell eight residences in Silver Strike Lodge at Empire Pass, a ski-in/ski-out condominium at the base of Deer Valley's Silver Strike chairlift.

On the block are a pair of two-bedroom units, two three-bedroom and three four-bedroom residences, plus a two-story penthouse. Minimum bids will range from $1.15 million to $1.5 million each for these units, whose previous asking prices were from $2.4 million to $3.3 million.

"We were holding open houses and they weren't selling [enough] units," said Matt Mullin, a principal figure in Ironwood, which sold 15 of Silver Strike Lodge's 34 units after construction was completed in August of 2008. "We did some research and found this auction company and went with them as a marketing tool."

The auction company is Accelerated Marketing Partners, a residential real estate firm with offices in Boston, San Francisco and Irvine, Calif.

Ken Stevens, company co-founder and West Coast chief executive, said auctions appeal to both buyers and sellers.

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