Park City Utah Real Estate News - Sean Matyja

Park City Mortgage Market Update

INFO THAT HITS US WHERE WE LIVE...What didn't make sense last week was the way the media reported the latest housing data. Housing Starts were UP a strong 15% in September, hitting a 658,000 annual rate. But the media chose to emphasize that the gain was mostly from multi-family starts which shows a big trend toward renting. Actually, multi-family units also include condominiums, which do make sense for first time buyers who don't have to deal with selling. The media also skimmed over the data that single-family starts were UP almost 2% for the month and starts overall are UP over 10% versus a year ago.

Then, Existing Home Sales came in 3% lower for September. The media reports by and large neglected to mention that this slight monthly drop followed a big…

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David Johnson Joins Summit Sotheby's Realty

Summit Sotheby’s International Realty is pleased to announce that David W. Johnson has recently joined Sotheby’s as their Managing Broker. David received his undergraduate and law degrees from the University of Utah. He has a very broad background in the real estate industry. David has managed his own title insurance and escrow company and is a past Director of the Utah Division of Real Estate. He is former legal counsel to the Utah Association of Realtors and to the Park City Board of Realtors. David has been primarily responsible for the development of most of the standardized real estate forms currently used by real estate agents and brokers in the State of Utah. David discontinued his law practice several years ago to accept an appointment as the…

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Utah Governor Speaks to Park City Realtors

Governor Gary Herbert, a former real estate agent himself, speaks with Park City Board of Realtors.

Gov. Gary Herbert assured Park City real estate agents Thursday that he knows what they're going through and he's trying to help. A former broker, Herbert reminded a ballroom full of agents at Canyons how difficult it was to be in the industry during Utah's recession in the 1980s. "I have the scars to prove it," he said.

But Utah's economy is growing three times faster than the national average and that will return stability to the marketplace.

"I've never been more optimistic about our future," he said.

Herbert spent the majority of his time explaining his philosophy of how personal property rights and limited government support a strong economy and personal…

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Deer Valley Resort - #1 Fifth Year in a Row - SKI Magazine

Deer Valley Resort has been named the #1 ski resort in North America by the readers of SKI Magazine for an astonishing fifth year in a row. No other ski resort has earned this prestigious ranking more than three times in a row in the past. Remarkably, in the past eleven years, Deer Valley’s rating hasn’t dipped lower than third, with a #2 ranking in 2001/2002; a #1 ranking in 2002/2003; a #3 rating in 2003/2004; a #2 rating in 2004/2005; another #1 ranking in 2005/2006, a #2 rating in 2006/2007, and #1 rankings in the 2007/2008, 2008/2009, 2009/2010, 2010/2011 and now 2011/2012 seasons.

“No other ski resort has accomplished anything close to this,” says Bob Wheaton, Deer Valley Resort president and general manager.

“And I think the reason is that no other…

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Park City Mountain Resort - #1 Family Vacation - SKI Magazine

Park City Mountain Resort has been named the “#1 Family Vacation” from the editors of SKI Magazine. The award is part of SKI Magazine’s “Lifestyle” winners that it added last year as part of its “Top 60 Resort Awards”. The Resort was also named the #6 Resort in North America by readers of SKI Magazine.

“We are honored to receive such a prestigious award as we focus on creating an incredible mountain experience for all of our guests, including families,” said Jenni Smith, president and general manager of Park City Mountain Resort. “Over the years we have directed substantial resources to enhancing the family experience for our guests. We have been devoted to finding ways to allow more of our guests to explore the 3,300 acres of terrain our mountain has to…

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The fall in prices has created a buyers’ market in some of the most popular mountain resorts

For owners of Rocky Mountain ski homes, the financial crisis was an avalanche. Prices in some Colorado resorts have fallen by up to 50 per cent from their 2007 highs. Even Aspen has not been spared, suffering an estimated 30 per cent fall. Now estate agents say there are signs that the market is bottoming out and buyers in the most desirable locations are enjoying what may prove the best conditions in years.

From the Financial Times - October 7, 2011

>>> Read the full article on the Financial Times website, using this link

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Park City’s First Fashion Stroll

As a special treat and a twist on the monthly Gallery Stroll, the Park City Gallery Association presents the September Fashion Stroll on Friday, September 30 from 6 to 9 P.M. The Gallery Association has teamed up with Farasha Boutique to combine the art of fashion with the fine arts. For one night only, galleries in Park City are celebrating fall fashion by displaying and selling the work of up-and-coming, independent designers in their galleries to supplement their fine art collections.  The galleries will showcase clothing, jewelry, accessories and shoe designers from Utah and beyond. Start your fall fashion shopping at the Fashion Stroll along Main Street by meeting designers, shopping their new collections and enjoying light bites and drinks. This…

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Mortgage Market Update

INFO THAT HITS US WHERE WE LIVE...One result we care a lot about is a turnaround for new homes. We haven't attained it quite yet, with New Home Sales down 2.3% in August, at a 295,000 annual rate. This keeps them in the territory they've occupied since May 2010, but there were some good signs in the report. The inventory of new homes for sale fell to its lowest level on record. At the same time, the inventory of homes not yet started went up the most it has in nearly five years. Some economists say this may indicate home building is close to turning back up.

The FHFA index of prices for homes bought with conforming mortgages went UP 0.8% in July after a 0.7% hike in June. This key home price index is up 7.4% annually over the last three months, the fastest…

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House is Gone but Debt Lives On

Did you know banks can come after you for Deficiency Judgements after foreclosure?! If you are in the unfortunate position of considering a short sale, or near foreclosure, YOU NEED TO READ THS ARTICLE. We are surprised by how many people still think a short sale, or a foreclosure is the end of the mess and headache. It's not. In fact, it is often just a "time-out", and the lenders could come after you for the deficiency debt years down the road, maybe when you have finally become financially healthy again. This article form the Wall Street Journal is very informative, and eye-opening.  If you are in this position, you really need to contact a lawyer who can analyze your individual situation.  We can help with recommendations of lawyers if you need…

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New Restaurant A Hit!

Sam Harris, long time Park City local has filled the Niche! His menu was inspired by his experiences working with some of the greatest chefs in Utah. Sammy offer an incredible menu selection at incredible prices! You must not miss out on the cumin/lime marinated Mahi Mahi, grilled tacos served with fresh mango salsa. Sit back and relax with a wonderful meal, incredible service, a micro brew on tap and your favorite sports game on one of the huge flat screen TV's. (located by El Chubasco). Great food at very reasonable prices!!!! ENJOY!

Sammy's Bistro
1890 Bonanza Drive
435-214-7570

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