PHOENIX — Last week, the owners of the Greer Lodge closed the lodge for good.
The lodge’s owner, Doug Sandahl, told the Arizona Republic that “revenues plummeted and our expenses soared” following a May 2011 arson fire that destroyed the lodge.
No arrests have been made.
Sandahl, who has owned the resort since 2004, said he decided to close because rebuilding the lodge to code would have been too costly.
But the lodge’s 50 cabins were undamaged in 2011 by both the arson fire and the Wallow fire and are now for sale, according to the lodge website.
On Friday, Greer realtor Tom Tilford sent out an e-mail — recipients included subscribers to the resort’s newsletter — announcing that the cabins are being sold individually at prices that are below market value.
The e-mail said that the cabins range in size from 500 to 8,000-square feet. A restaurant, a motel, a retreat center, and vacant land associated with the Lodge are also for sale. Tilford’s e-mail did not reveal the asking prices.
Tilford has not returned repeated requests for comment.
Valley real estate expert Dean Wegner said this buy could be a great investment.
“I think you’re going to get a deeply discounted property in a great area,” Wegner said. “It’s a really good play.”
Wegner did not have information on the prices of these cabins but said he has seen cabins in the area going for $75,000-$150,000.
He believes home values in Greer could jump 35 percent within the next two years. Greer is located some 200 miles east of Phoenix.
Wegner had some advice for any potential buyers who might be concerned about fire damage. He said before buying “Go up there, kick the tires, check out the area, and feel it. If it feels right, it’s going to be a good play.”
HomeFinder.com includes a community information section that claims that 68.7 percent of all of the homes in Greer are unoccupied.
“There’s a lot of vacant properties, but as Warren Buffet says, ‘You buy when everyone is selling, and you sell when everyone is buying,’ ” said Wegner.
Wegner said looking to buy a weekend getaway, there could also be good buys in Payson and Prescott.
- Workers comp: Signs your co-worker could be a fraud
- Who's the real founder of America's pastime?
- Epidemic rising? What you need to know about Alzheimer's in Arizona
- 5 unforgettable Wooden Award winners
- Family and hard work are keys to success of modern dairy farmers
- Genetic testing could hold answers for colon cancer survival
- Cold beers and baseball: A beer lover's guide to Spring Training
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments
- Here’s why Gaydos went tankless with his water heater
- Bocce ball and basketball: How you can help Arizona's Special Olympics athletes
- Tips on building the best wine room in Arizona
- Avoid the nightmare: 6 tips to choose a great contractor
- Breast cancer: Improved testing and treatments means more survivors
- Failed back surgery: New hope for patients living in pain
- Ticking time bombs: Telltale signs your water heater is about to explode
- Reading glasses could be a thing of the past
- 6 cool ways teachers are using technology in the classroom
- Emerging tech jobs in Phoenix and how to get one in 2017
- 4 top treatments athletes use for pain
- Emergency! What to do when bathrooms flood
- Arizona kids in crisis: How you can help
- New treatment offers hope for migraine sufferers
- 11 stadiums to watch your favorite football team
- Shopping for a TV? Best models for 2016
- Avoid this holiday plumbing disaster in your home
- 7 tips to avoid holiday weight gain
- New treatments mean better prostate cancer survival rates
- 5 of the scariest things found in drains