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Click a specific question below to open our most current response. We’ll try to update this list of questions and answers as new information becomes available. Please note that this information is subject to change without notice, so if you have a question that is not addressed here, please contact us at your convenience.
The registered address is 676 East Markea Avenue, Salt Lake City, Utah, 84102.
Markea Avenue is at 250 South, so another way to locate us is at 676 East 250 South.
350 South 200 East, #106
Salt Lake City, Utah
Hours: By Appointment
Units 10, 11, 12 and 13 were completed at the end of 2010 (“Phase 1”). All units in Phase 1 were Sold (“Closed”) in early 2011.
Units 1, 2, 3, 4, 5, 6, 7, 8 and 9 (“Phase 2”) are on track for completion by November 2011. Depending on weather and specific demand from our presales, we may be able to deliver requested units slightly earlier than this projected delivery timeframe.
As of September, units 3, 8 and 9 are pre-sold. We keep our website current in terms of inventory availability, pricing, etc.
For a view of currently available remaining inventory, check here.
Yes. Units 10, 11, 12 and 13 are now completed and all are Sold (Closed).
We anticipate that certain units now being presold in 1 through 9 may also be available for occupancy prior to completion of the entire community based upon request from buyers that are under contract.
Check here for current availability and pricing.
Markea Court residences come individually pre-wired for alarm systems through a local security system subcontractor. Residences are not finished out with sensors or other alarm system monitoring equipment. To activate a unit’s alarm system and subscribe for monitoring the owner will simply contact the subcontractor to arrange for equipment and service monitoring. Alternatively, they may opt to use another security system monitoring service of their own choosing (may require a rewire of the unit or use of a wireless system).
Each residence does come with two programmable remote controls for the private two car garage, as well as one code panel affixed to the exterior wall of the garage that is also programmable. Additional remotes can be purchased following Closing through the manufacturer or a local home supply store.
No. There is no additional parking provided other than the full-size two car garages built into each townhome. There is on-street parking on Markea Avenue, which forms the northern line of the property, and in the surrounding neighborhood.
With this in mind, Markea Court’s planned amenities include:
Monthly HOA Dues will average about $154 per residence, with a range of $148 to $159 per the current budget. This excludes the unique unit number 9, which will be 3,530 square feet and will carry projected monthly HOA dues of $271.
Yes, we plan for DirecTV to be installed at Markea Court using a “MDU” (multi-distribution unit) system. This will allow each unit to receive programming throughout their residence without having to pay for or have installed a separate satellite dish. One heated dish for each “building” (units 10 – 13 would have one dish and units 1 – 9 have another dish) can be installed on the roof to serve that structure.
Separately, we are evaluating whether to provide each owner with “bundled” service from DirecTV, which will cost the HOA approximately $20 per townhome per month rather than the $60 per month fee if ordering individually. This would provide each townhome with Basic Programming and use of one hi-def (HDTV) tuner. Additional programming options and hi-def tuners or DVRs can be ordered from DirecTV by the unit owner as desired by the owner.
If bundled service is ordered, either by the Developer or by the Homeowners Association once the HOA is turned over to owners, the fee (estimated at $25/month/residence) would be added to the monthly HOA dues rate. Also, if deploying bundled service each unit at Markea Court would use DirecTV for television programming, and Comcast would not be used on site (for TV programming). Owners could still order Comcast cable modem hi-speed internet service in their unit, or a wireless service offered through the new Clear service provider (www.clear.com). CenturyLink (formerly Qwest) has opted not to provide landline or DSL service to Markea Court Townhomes. Prospective buyers should not purchase a unit at Markea Court contingent upon either having or not having bundled service in their residence.
As of this time, CenturyLink (formerly Qwest) will not be offering DSL service to the Markea Court property. This may change in the future, but should not be planned for we believe.
Once the townhome sale is Closed and the Buyer becomes the Owner, the Owner may perform desired changes to their residence’s floor plan or other interior items (i.e., finishes, etc.) provided they conform to any requirements and restrictions defined by local building codes, the project’s Declarations (“CC&R’s”), Rules and Regulations, or other governing documents and laws.
Yes, if you order them in time from the developer’s list of upgrade offerings. In order to maintain our construction schedule and volume discounts on finish items and appliances, we are happy to accommodate such requests provided doing so does not delay the construction schedule or cause the loss of any volume discounts from suppliers to the project.
Contact us for information on the status of finish items and appliances in any remaining unsold units 1 through 9. We are pleased to provide buyer-selected upgrades and appliances from the list of options provided doing so does not delay any of the construction trades that are building out Markea Court.
Maytag Stainless Steel Dishwasher, 30 inch Gas Range & Oven, Combination Microwave / Range Hood, and an In-Sink Disposal.
We are also offering appliance upgrade packages from GE (Monogram line). These can be ordered in 30” or 36” range sizes (as long as our custom ordered cabinetry is available in 36” opening). Call for details on GE appliance upgrades and to check our remaining inventory that can permit a 36” range.
We are also offering as upgrades Stainless Steel Refrigerators and Washer / Dryer packages to compliment the base or upgrade appliances already in the unit.
The cost of these packages can customarily be built into one's unit purchase price and financed through the mortgage. Ask your lender for details.
We will wire Markea Court Townhomes for landline telephone/fax (Comcast), cable television (Comcast), satellite television (DirecTV), and broadband internet (Comcast or Clear). Owners will be able to have security systems installed in their townhomes once they take Possession from the developer. Many good wireless alarm systems are available on the market for reasonable cost.
Each townhome will also come standard with a 5.1 Surround Sound pre-wire package in the residence’s Living Room area.
Markea Court is located within the Salt Lake school district. District offices are located at 440 East 100 South, Salt Lake City. School information is provided using currently available public information; prospective owners are encouraged to verify this data prior to committing to a purchase at Markea Court.
Elementary School: Wasatch Elementary
30 R Street
Salt Lake City, UT 84103
Middle School: Bryant Junior High School
40 South 800 East
Salt Lake City, Utah 84102
High School: East High School
840 South 1300 East
Salt Lake City, Utah 84102
Private School: Rowland Hall-St Mark's School
205 First Ave
Salt Lake City, UT 84103
Our unit pricing is guided by five criteria:
Scarcity is defined here as the relative perceived shortage or excess of supply of this type of townhome when compared to other similar townhome units in the local area.
We have not yet included an “escalation clause” in any Markea Court Purchase Contract for units we’ve sold, and are not currently imposing one on remaining available inventory. However, if market conditions change and it becomes necessary to add an Escalation Clause to the Purchase Contracts of unsold townhomes, we reserve the right to do so. In that circumstance, all previously sold or presold units would continue to not have Escalation Clauses.
Although it is common in the current era of unpredictable labor and materials markets for a developer to require buyers at a development such as Markea Court to accept escalation clauses in the Purchase Contract (which would require the buyer to pay more for their townhome if construction costs exceed certain limits), the developers of Markea Court Townhomes have elected to do the work now to lock in all costs to the degree possible. They then take the risk of further increases by not forcing buyers to accept escalation clauses as a condition of purchase.
Since Markea Court is already more than 50% sold out, and we are still building Phase 2, we anticipate a gradual increase in unit prices on each unit as the remaining units are sold. As an example, please consider pricing of airline seats and hotel rooms as the plane or hotel fills up. As a guideline, we expect the adjustment to any given townhome to be within the $1,000 to $5,000 range at the time of each change.
Past sales results are not a guarantee of future performance. All unit pricing is closely monitored to reflect current market conditions and sales forecasts by the Developer. The Developer reserves the right to reduce unit pricing offered without notice on any remaining unsold inventory.
Yes, Markea Court is expected to meet all criteria set forth by HUD (federal agency), which governs FHA insured loans throughout the USA. This means that Buyers may be able to borrow funds with down payments as low as 3.5%. Check with Casey Bauer at Axiom Financial, or a lender of your choice, for specific terms and conditions.
We will review all reasonable offers, and will respond to those that the Developer considers to be made in good faith and that have a high likelihood of reaching Acceptance, in our opinion. That said, there have been no pre-sales at Markea Court that have been accepted for less than the price offered on our website by the Developer.
We will not negotiate pricing or specifications of the Upgrade items we offer unless we do so through a Change Order (which incurs a Change Order fee in addition to revised upgrade costs & specs).
We’re working to not only build downtown's premier townhome community but also to offer it at pricing that is fair and reasonable.
Typically, yes. Axiom Financial is aware of our upgrade program, and appraisers should be able to accommodate increased values of upgraded townhomes as required (although there is no guarantee of this). Selected upgrades will be part of the purchase contract, outlined in an Upgrade Addendum (“Schedule A”), which will specify each upgrade selected and the cost of each upgrade.
Because 50% of a buyer’s upgrade expense listed on the Schedule A will be due at the time they are ordered the buyer will have to advance a portion of the funds. Upgrade funds paid by buyers will be delivered to the Developer to be used during construction. This will help pay the contractors for the unit upgrades installed in the residence and for other expenses incurred at the sole discretion of the Developer. The remaining balance due (the other 50% of upgrade costs) will be collected from the Buyer at Closing unless otherwise required by the Developer (i.e., custom items, etc. that may require full prepayment).
The buyer may then be reimbursed (given a check) for the cost of prepaid upgrades at Closing by the title company if the cost of upgrades is included in the loan amount. Ask your lender for details on the loan underwriter’s policy prior to committing to any lender or to Markea Court Townhomes if such reimbursement is material to your decision whether or not to purchase a residence at the project.
For more information, contact Andrew Pratt (click name for email) or via phone at 801.257.0777
Click on any or all of the Questions to the left to read through our Answers. If you still have a Q that you need an A to, let us know by clicking on Andrew Pratt above to send an email. Or a good old fashioned phone call is welcome too!