Best BuysStatistics October 15, 2011

Deer Valley #1 Ski Resort

In the middle of leaf peeping season ParkCity’s first snow arrived last Thursday, October 6th.  With upperDeerValley seeing eight inches, this blustery storm wasn’t just a sprinkle.

 And now the rest of the story …                                

 DEER VALLEY RESORT RANKED THE #1 SKI AREA IN NORTH AMERICA  FOR AN ASTONISHING FIFTH YEAR IN A ROW!

Voted overall #1 by the readers of Ski Magazine Deer Valley has not dipped below #3 in the last 10 years.  Individual comments of those surveyed included top notch service, impeccable grooming, outstanding food, and a consistent first-class experience.  For everything Deer Valley visit www.deervalleyresort.com.    

OVERALL REAL ESTATE DEMAND IMPROVES 

The Park City MLS and Wells Fargo report that as of September 1, 2011 new pending sales are up 21% and closed sales are up 24% when compared to the same time period in 2010.

Best Buys this month include new, two and three bedroom single family town homes, by the Jordanelle Reservoir starting in the $270’s, golf club lots beginning at $80,000, and a furnished Deer Valley ski to/ski from condo at an unprecedented $1,350,000.

To see all Park City/Deer Valley offerings go to our web site at www.homes-parkcity.com.   

LUXURY SALES

Luxury home sales inPark City have improved this year when compared to last.  From January 1, 2010 to October 1, 2010 there were 98 home sales over one million dollars.  During the same time period this year the Park City MLS showed 108 home sales over one million; of those, eight exceeded four million.

Luxury condominiums in town have also performed well this year with 55 sales over one million – the priciest weighing in at eight million.

If you’re curious about the state of the international luxury real estate market visit the latest release from Christies International Real Estate at http://christiesrealestate.com/content/files/cire.stateofthemarketreport.pdf.

IN CASE YOU WERE WONDERING …

Park City’s year round in town population, that’s the white barn to Deer Valley and Park City Mountain Resort to Prospector, is 7558 people.

Our median age is 37.4; I left that median quite some time ago.

Aspen andSun Valley are 40 and 47 respectively.

 66% of performances, concerts, films and exhibits in 2010 were offered free of charge.

Our three ski resorts enjoyed over 1.8 million skier days in 2010.

For more of the above regarding ParkCity’s demographics, economy, community, and more check out the ever popular Park Records latest MILEPOST 2011 at http://www.partkcityrealtors.com/useful-links

Neighborhood Summarys August 11, 2011

Prospector Square in Park City, Utah

Prospector Square

 

Victorian Home in Prospector

Victorian Home in Prospector

Residential construction started in the mid 70’s and included some Victorian Style architecture.  There are three residential neighborhoods Prospector Village, Prospector Park and Chatham Hills.  Condos range from studios to large three bedrooms and are found mixed in both the residential neighborhoods as well as nearer the shops and restaurants. Prospector Village is zoned for nightly rentals, allowing more mixed use. 

The Prospector area is very convenient to three public schools (grades 1- 5, 7-8 and 10 -12)  Students living here can easily ride a bike to school, with the exception of the two years they ride a school bus to Ecker Hill Middle School.

 Park City’s Free Bus Service comes through Prospector taking riders almost anywhere in the city, to all three ski resorts and through much of this side of the County. 

 Another fine amenity enjoyed byPark City residents (especially those living in Prospector) is the Rail Trail.  The Rail Trail starts at the western most end of Prospector, running through the neighborhood and continues for a total of 26 miles.  From the Park City Marathon, to dog sled races, to a family out with their child in a stroller, the Rail Trail provides year round recreation and enjoyment.

Prospector Park

Prospector Park

 Located within theParkCityLimits   

This area is comprised of:

  • 3 single family detached home neighborhoods
  • 8 condominium neighborhoods
  • 2 time share properties

The average prices are: (as of 8/31/10)

Prospector Square Conf Center

  • Single Family detached $568,733
  • Condos $159,309  (median price is $316,00

Neighborhood amenities and unique characteristics

  • Rail Trail providing direct access to RoundValleyand Prospector Loop trail, www.mountaintrails.org
  • Schools adjacent to neighborhood:

McPolin Elementary, http://mpes.pcschools.us/

TreasureMountainInternationalMiddle School, http://tmis.pcschools.us/

ParkCityHigh School, http://pchs.pcschools.us/

Two landscaped parks, one with a climbing arch, and the other with the newest playground equipment and plenty of room for the dog to run.

Year round paved trail access to schools andOldTown

* The above information is provided as an “approximate” guide to help in understanding the area.  All of the information is subject to change at any time, so please verify anything that is important to you.

 

Best BuysUpdates you need to knowWhat is Hot in Park City July 22, 2011

Must See Hot Topics on Park City, Utah

This month’s Hot Topics include our Broker’s most recent analysis on the Park City Real Estate market followed by the best buy on the planet, our things to do for August, and an insider golf deal.

MARKET OVERVIEW

 Here is a link to view the most recent, most widely read and relevant overview of the Park City Real Estate Market (Also Known as “The World According to Jess Reid”). July 2011 Market Overview

 THE BEST BUY

Imagine a new home with four bedrooms, more than 5,000 sq. ft., overlooking holes 14 and 15 on the Pete Dye Promontory golf course.  Add unobstructed, expansive views of all three ski resorts, plus all the amenities Promontory has to offer just minutes to Route 80. The asking price has been drastically reduced from $2.750M to $1.250M which works out to $250.00 per sq. ft.

Click here to check out the stunning photos and panoramas: http://pcmls.com/Pub/EmailView.asp?r=1528085493&s=PKC&t=PKC

 THINGS TO DO IN AUGUST

Every Wednesday from Noon to 6 PM check out The Farmers Market next to the Canyons Cabriolet. http://parkcityfarmersmarket.com/tag/summit-county/

Thursday’s Plazapalooza from 6 PM to 9 PM, free music on the Silver Star plaza. For music everywhere go to www.visitparkcity.com.  

 The Friday night Wine Series, also known as an educational happy hour.  Fun wine tasting with blends selected to reflect the theme of the night.  Go to www.foxschoolofwine.com.

 August 5th and 6th is Stand-Up Comedy at The Egyptian.  Adult fare at www.parkcityshows.com.

 August 5th to 7th features the ever popular Kimball Arts Festival celebrating its 42nd year with more than 220 exhibits; a must for “The Artist Within”. For more details visit: http://www.kimballartcenter.org/events/arts-festival-2011/42nd-annual-park-city-kimball-arts-festival

 INSIDER GOLF DEAL

Everyone knows that Victory Ranch is offering public play this summer for $150 per golfer. What’s not very well known is that when you return within 48 hours, the next round of 18 holes is only $50!  Golf Week magazine named Victory Ranch as “one of the top best new courses to play in the country’.   Visit www.thevictoryranchclub.com for directions and details.

Neighborhood Summarys July 12, 2011

Deer Crest Neighborhood Summary

Deer Crest is a private, gated community encompassing 600 acres located in Deer Valley Ski Resort. Currently more than 40 single family deluxe homes have been built, many with expansive views of Bald Mountain and the Jordanelle Reservoir below. Most residences are ski-in/ski-out and have access to 11 ski runs. The Jordanelle Express high-speed gondola and Deer Crest quad chair lift provide access to the trails which meander through this master planned community. There are three condominium projects; The St. Regis, a luxury condominium hotel which features hotel services including fitness and spa facilities, pools, fire gardens, restaurants and bars. The other two condominiums are Deer Crest Estates town homes and Deer Pointe Town Homes situated toward the base of gondola.  

               Deer Crest Entrance           

Located within Wasatch County

This area is comprised of:

  • More than 40 single family residences.
  • Three condominium projects.
  • Vacant Land development lots.
  • 360 acres of mountainous open space. 

The average sold prices are: (as of 8/31/10)

  • Single Family detached  $4,384,000 
  • Condominiums: 
    • St Regis $4,086,000
    • Deer Pointe Town Homes $3,850,000                               
    • Deer Crest Estates Town Homes $1,600,000
  • Vacant Land (SFR development lots) $2,000,000

Neighborhood amenities and unique characteristics

  • Home to the only gondola in Deer Valley.
  • Accessible through Queen Esther in lower Deer Valley or Mayflower exit off Highway 40.
  • Open space comprises 60 per-cent of community.
  • Entitlements are in place for future developments including a commercial village at the base of the Jordanelle Gondola.
  • Wasatch School District.
  • HOA includes common area insurance, landscaping, security, snow removal, common area taxes, management fees, reserve contingency, extensive snowmaking & large private ski easements in HOA fees.
  •   www.deercrest.com for additional community and HOA information
Best BuysWhat is Hot in Park City June 27, 2011

Summer in the Park

SUMMER IS ONE OF OUR FOUR FAVORITE SEASONS IN PARK CITY WHEN GREEN MEETS WHITE AT 8,000 FEET

 

 

 
YOU KNOW ITS SUMMER IN PARK CITY WHEN ………..

 –    The kids use #6 at Park City Municipal Golf Course as a “Slip & Slide” from the snow melt.
 –    The outdoor restaurants switch from heat lamps to umbrellas.
 –    Talk of a new ice skating venue turns to … is the pool open at Prospector today?
 –    You’ll notice a couple of local base jumpers leaping out of a perfectly functional hot air balloon.
 –    You find yourself on line at www.VisitParkCity.com rather than the snow report sites.

SPEAKING OF RESTAURANTS …

Our new favorite is the Silver Star Cafe located above our municipal golf club and around the corner from the Sundance Institute.  The café offers terrific views and American Roots Cuisine serving lunch and dinner daily.  It was; however the Sunday brunch and incredible edibles that brought us back for more. Check out the restaurant at www.thesilverstarcafe.com.

WHAT’S HOT IN JULY

–          Flying Ace All Stars Freestyle Show – Every Saturday at 1 PM thru Sep 3rd at Utah Olympic Park  435-658-4200  www.olyparks.com

–          Park City Music Festival Summer Concerts – Presented by the Park City Chamber. Visit www.pcmusicfestival.com for concert details and dates or call 435-649-5309.

–          Park Silly Sunday Market – Every Sunday from 10 AM to 5 PM on Main Street. www.parksillysundaymarket.com

–          76th Annual Oakley Rodeo and July 4th Celebration. Going on now till 4th of July www.oakleycity.com

–          Cole Sport/KPCW Summer Bash – July 1st at the Town Lift Plaza visit www.KPCW.org or call for more information 435-649-9004.

–          Park City’s Traditional Independence Day Celebration – July 4th all day for a list of activities visit www.parkcityinfo.com or call 435-649-6100.

–          Seventh Annual Park City Food & Wine Classic – July 7-10th 877-328-2783 or www.parkcityfoodandwineclassic.com

RECENT SIGNIFICANT SALES

  1. Two houses on one lot in Old Town. Ski to/ski from 6,500 sq. ft. for $1,378,000.00
  2. Over five ski to/ski from acres in the Colony for $6.3M. The new construction home boasted 9,968 sq. ft.
  3. A gentleman’s ranch in Quarry Mountain in the low $3M’s

 BEST BUY”S

            Deer Valley Quality with Deer Mountain Views – visit  http://www.obeo.com/Public/Viewer/Default.aspx?ID=672215 for more details.

            A rare Deer Valley single family house priced as a condo  – http://pcmls.com/Pub/EmailView.asp?r=1076578823&s=PKC&t=PKC

THE END

As usual we like to keep it short, sweet and relevant.  If you have suggestions for future blog/blasts please do let us know.  For all things real estate visit us at www.homes-parkcity.com or send us a note at TomInPC@comcast.net or JessicaInPC@Comcast.net.  For a real person, call 435-640-1400 or 435-659-1297.

Neighborhood Summarys May 3, 2011

Aerie Neighborhood

The Aerie area is located on the mountain between Old Town, Prospector Square, and Lower Deer Valley. The Aerie is right in the heart of Park City. This area was the first development to move off the valley floor and into the surrounding mountains.  It accesses Deer Valley Drive from two locations and includes the April Mountain subdivision.  The Aerie is comprised of older and newer homes and a section of condominiums at April Mountain as well as vacant land for new construction and boasts big views of ski resorts and the basin. 

Located within Park City limits

The area is comprised of:

  • 2 Single Family detached homes neighborhoods
  • 1 Condominium neighborhood

The average sold prices are: (as of 3/1/2011):

  • Single family detached $1,845,583
  • Condominiums $1,024,200
  • Vacant Land $552,500 

Neighborhood amenities and unique characteristics are: 

  • Miles of trails throughout, visit www.mountaintrails.org
  • Panoramic views of the Snyderville Basin and the ski areas
  • Within the Park City School District
  • Conveniently located 5 minutes from 3 ski resorts and a few minutes from Main Street.
  • Walk to Gambel Oaks Park
Uncategorized April 28, 2011

What to do in the Post Season

POST SEASON IN PARK CITY

 Also known as spring …. “Sunny blue bird days with mixed rain, mini snow events and the resorts are closed for the season.”

We could have used a little more sun this winter; however no one, but no one complained about it with fresh powder as weekly event.

Our lodging companies boasted an increase in visitor nights which is always good for our resort economy

REAL ESTATE SALES

The increase in visitation may have inspired additional seasonal real estate sales with a 20% increase in closings and a 14% decrease in sold volume.  Steep discounting on new developer products, some short sales, and bank properties contributed to a 28% decrease in the average sales price. Here are the first quarter2010 to 2011 comparison graphs. April 2011 Eblast Charts

BEST DEALS

Albeit fewer, there is still a terrific selection of homes, lots, and condo’s at price points from 2005.  As is usually the case, the best are selling fast, and first, so just give us a call for the properties that fit your wish list.

Did we mention interest rates still at historic lows?

WHAT TO DO

The ski areas may be closed but check out the following fun stuff and enjoy the local’s perspective of Park City.

  1. Kimble Arts Center Open Mic Night … Live performances by local musicians, poets and story tellers.
  2. The Egyptian Theater …Upcoming, and the ever popular Park City Follies;”No Follies left Behind” visit www.ParkCityShows.com for more details.
  3. Park City Gallery Stroll …. A fun filled artful booze cruise around town.
  4. The Pony Express Exhibit ….A winner at thePark City Museum.
  5. PC Film Series … The King Speech and much much more.

For more information on these events, and others, go to www.ParkCityChamber.com.

For every property for sale on the planet go to www.homes-parkcity.com.

To speak to a human and for more real estate words of wisdom call ….

Tom Walsh   435-640-1400  

Jessica Allen 435-659-1297

Neighborhood Summarys March 29, 2011

One of our Favorite Neighborhoods. Thought you would like to know.

The Silver Springs area is located a few miles from Park City’s Historic Main Street and is an attractive mix of primary residential home and condominium neighborhoods.  The demographics are mostly families and individuals who either work and play in Park City or commute to Salt Lake City; a quick 30 minute drive down the canyon.  Parley’s Park Elementary and some light commercial such as a bank, gas station and convenience store, and a small office building enhance this neighborhood. Being situated directly across from The Canyons Ski area and minutes from The Park City Mountain Resort and Deer Valley, there are some vacation home owners in the area.

Silver Springs enjoys recreational lakes located directly within the community and immediate access to an attractive well maintained trail system to hike or bike into Park City or Kimball Junction.  Within minutes the trail system goes directly past The Willow Creek Park hosting children’s play area, ice skating, soccer fields, basketball and volleyball.  

The homes, on a third to half acre, and condos are two to seventeen years old, all attractively landscaped, and most with wonderful views of all three ski areas.  Homes that come on the market in Silver Springs usually sell well due directly to its very desirable Park City locale.

 To visit Silver Springs on line go to www.silverspringshomeowners.com.    

Located two miles from Park City and a similar distance to Kimball Junction and I-80 to Salt Lake.

 This area is comprised of:

  • 7 single family detached home neighborhoods.
  • 5 condominium neighborhoods.

The average sold prices are:   (as of 3/1/11)

  • Single Family detached $655,184
  • Condominiums $308,000

 Neighborhood amenities and unique characteristics:

Free Bus system in and out of town, http://www.parkcityinfo.com/static/index.cfm?contentID=765

Best BuysUpdates you need to knowWhat is Hot in Park City March 23, 2011

Park City vs. Other Mountain Resorts and More

Greetings from the Park! Here is what’s new, exciting, and fit to print in and around Park City.

MOUNTAIN RESORT COMPARISONS

Ever wondered how Park City compares to other ski resort towns? The following stats from the Western Mountain Resort Alliance (www.wmra.com) shows how Park City faired compared to Colorado, Canada and Idaho.

       Compare 2010 sales to 2009 sales:

             Park City – Up 16% in dollar volume and up 26% in number of transactions

              Sun Valley – Up 20% in dollar volume and up 24% in number of transactions

              Whistler – Up 6% in dollar volume and up 6% in number of transactions

              Vail – Up 67% in dollar volume and up 33% in number of transactions

              Steamboat – Up 17% in dollar volume and up 18% in number of transactions

 ANNUAL POND SKIMMING CONTEST

The Canyons Ski Resort is at it again.  As part of this year’s 10 day Spring Gruv celebration, the annual pond skimming contest is scheduled for Saturday, March 26th. If you’re in town that weekend you may want to check out the Canyon’s website for the other 9 day’s events. http://www.thecanyons.com/events.html?textid=10040

BANK OWNED PROPERTIES

If misfortune breads opportunity, then check out the following:

–          Two ski to ski from houses in Old Town for $1.75M

–          Hotel Park City Executive Suite $334,900

–          Promontory cabin with 4600 sq ft under $1M

–          Canyons ski condo at $220,000

Of course you can always email us for a list of the 32 other foreclosed and 78 short sale properties.

 POST GREETINGS FROM THE PARK

We’d love to hear your comments and to see the best of Park City/Deer Valley Real Estate go to www.Homes-ParkCity.com. Of course if you or someone you know needs any real estate information a quick call or email is always welcome ….

Updates you need to know March 17, 2011

Park City’s Largest Snowfall Year