Park City Utah Real Estate Blog

Great news! Looks like the snow is on its way!

We have had a very slow start this year in the Rocky Mountain West, but finally we are expectig some real snow. Now not all has been bad, the resorts have made an incredible amount of snow, so we have a great base, and conditions have been decent. For the kids riding the halpipe and terrain park, this has been an amazing year as every day has been blue skies and sunny weather. The groomers have been quite nice, but starting to get a bit icy. This new snow will be a game changer!

See below what the National Weather Service forecast has to say:

A WINTER STORM WATCH REMAINS IN EFFECT FROM WEDNESDAY AFTERNOON THROUGH FRIDAY AFTERNOON.

* AFFECTED AREA: THE WASATCH MOUNTAIN RANGE.

* SNOW ACCUMULATIONS: STORM

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Skiing conditions are much better than you might think!

This sure has been a tough start for the year for all the western US ski resorts. We have been experiencing one of the slowest starts to the winter season that any of us can remember. It is especially in sharp contrast to what we enjoyed last year as one of our biggest snow years ever. If you were in Utah last year you know what I am talking about!

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Normally by this time of the winter we have already had quite a few epic powder days, but this year has not been like that. We have had enough snow to be open, and with snow making capabilities the resorts have been able to get many runs open. Deer Valley and Park City have impressive abilities to create snow when mother nature does not deliver. You

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A VERY unique aspect of the Park City Ski Resorts is the fact that you can fly into the Salt Lake City International Airport in the morning, and be skiing the same day!

It's true, it's easy, and we are probably one of the only places in the country where that is the case. To prove our point, the Park City Chamber of Commerce has an amazing program to present to you.

The Park City Quick START (Ski Today and Ride Today) Vacation lets you convert your airline boarding pass into a same-day lift ticket to the Park City resort of your choice. It’s your chance to get a free same-day lift ticket at Canyons Resort, Park City Mountain Resort or Deer Valley Resort. You’ll discover the three world-class resorts and endless possibilities, not to mention the

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In a continuing effort to meet the desires of both buyers and guests, the developers of St. Regis have created an elegant and inviting Executive Condominium Suite. The original 1920 square foot floor plan included three bedroom suites, powder room and standard parlor, kitchen and semi-formal dining. The newly completed condominium has been re-configured into an oversized gracious living room, expanded dining area, kitchen and foyer, reminiscent of the St. Regis Deer Valley's spacious and exclusive Residences on the top four floors. The living room features include chestnut hardwood flooring, oversized stone fireplace, built-in cabinetry and double sets of sliding glass doors opening onto exterior patios or balconies. In addition, there are two large

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Real Estate Update for the Waldorf Astoria Park City and Canyons Ski Resort

Pricing at the Waldorf Astoria has seen downwardly adjusted List Pricing by about 20% from Average of $970 price per square foot to $775 price per square foot. (Low of $716psf and High of $823psf) Along with developer product there are currently 3 Re-Sales Available - A 1 bedroom and Two 2 Bedrooms) A BONUS of Two Ski Passes to Canyons for first Three Years of Ownership.

Waldorf Astoria Hotel Improvements for 2011 (fully funded by Talisker – Estimated Cost at $2million): NEW Restaurant ‘CRAVE’ Espresso Bar and Deli. NEW Gift Shop ‘Palette’ offers Luxury Clothing, Ski Gear, Gifts and Sundries. NEW Après Ski Bar ‘Scoop’ serves Hot Drinks (alcoholic and non-alcoholic), House made

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INFO THAT HITS US WHERE WE LIVE...The housing recovery may be proceeding slowly, but things are definitely not at a standstill. Earlier this year, an industry rent vs. buy index found it is more affordable to buy than rent a two-bedroom home in 72% of America's 50 biggest cities. In fact, renting was less expensive than buying only in New York, Kansas City, San Francisco and Seattle. And in 10 of the cities where renting was relatively affordable versus ownership, people felt buying may still be a financially sound long-term decision.

A recent consumer study showed people are getting the message. With home prices now at such affordable levels, 62% of those surveyed said buying in today's market is a good investment over the next 10 years. The most popular

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For the 2nd year in a row, Utah Tops Forbes list for "Best State for Business and Careers". This was their sixth annual look at the business climate of the 50 US States. Utah was the only state to rank among the top 15 states in each of the six main categories they rate states on. No one can match Utah's consistent performance.

They talked about Utah's highlights of energy costs at 31% below the national average, and employment growth that has averaged 0.6% the last five years, vs the national average of negative 0.6%.

Businesses are taking notice. Proctor & Gamble, ITT, Home Depot, and Boeing all announced expansions in Utah. The Goldman Sachs office in Salt lake City is the second largest in America, with more expansion planned over the next 4 years. Tech

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Last Thursday and Friday was the 10th Annual Park City Turkey Drive. As of Friday night when the truck pulled away, the Park City Realtor volunteers had collected 1,778 turkeys. Over the weekend, they received additional donations and were able to purchase additional turkeys thereby pushing their overall collection in excess of 1,800 turkeys and hundreds of pounds of non-perishable food items. On a local level the Turkey Drive provided 400 birds to the Park City Food Pantry located on Munchkin Road, several turkeys to the Community Center in Kamas and the remaining birds along with hundred pounds of non-perishable food items were delivered to the Utah Food Bank for distribution statewide. The Park City Turkey Drive has earned the distinct recognition of

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The U.S. House and Senate yesterday restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125 percent of the area median home price from 115 Percent, up to a  maximum $729,750, from $625,500. NAR estimates that several hundred counties where FHA loan limits fell at the end of September will now rise back up to the previous level.

“The reinstated loan limits will help provide much needed liquidity and stability to communities nationwide as tight credit restrictions continue to prevent some qualified buyers from becoming home owners and the housing market recovery remains fragile,” said NAR President Moe Veissi in a statement released last night.

President

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If you are thinking of coming out to Park City, we have a great deal for you!

Promontory is offering a Stay and Play vacation package at an incredible deal. This deal is offered through Summit Sotheby's Intl Realty agents and is a great opportunity to come to Park City and experience all that Promontory has to offer.

We are now heading into our winter season here in Park City, Utah. The nearby Cottonwood Canyons ski resorts Brighton and Solitude have already opened, and have even been lucky enough another foot of fresh snow to create some pretty good conditions for everyone who made it up there. If you ever visit Park City, you should also take the drive (only about 50 minutes) over to Brighton, Solitude, Alta, or Snowbird. Living in Park City, and

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