Park City Utah Real Estate News - Park City Real Estate News

New Development - The Havens at Deer Crest

East West Partners has just introduced its newest ski-in, ski-out development at Deer Valley® Resort and is now taking reservations of interest.

Known for some of the most successful properties, including Founders Place, Argent, One Empre Pass, Flagstaff, Arrowleaf, Larkspur, Paintbrush, and Shooting Star, East West has a proven track record as one of the largest developers in the Deer Valley and Park City communities.

The Havens is an exciting new luxury development situated in the prestigious Deer Crest community at Deer Valley® Resort, Utah. This boutique collection of 32 slopeside residences offers direct access to the Jordanelle Gondola, ensuring seamless entry to Deer Valley’s renowned ski terrain—making it a dream destination for ski…

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Deer Valley East Village Update

What is happening at the new Deer Valley East Village? Quite a lot. There has been strong sales activity over the last year, and more options will soon hit the market. If you have been watching this community grow and have any interest or questions, reach out to us, and we can keep you updated on everything happening in this highly anticipated resort village.

Construction of Deer Valley’s East Village Lodge (Village Skier Services Facility, or VASSF) is progressing rapidly, with substantial completion expected by September 2026. Temporary skier services will be available for the 2025/26 ski season. Current construction updates include completion of the concrete structure, the first section of the steel roof for Building A and the Gondola Access…

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Why a 50-Year Mortgage Is a Terrible Idea

Recently, there has been discussion in the news about the possibility of introducing a 50-year mortgage as an alternative to the traditional 30-year mortgage, which is the industry standard. At first, it might sound like an innovative solution to improve home affordability. However, upon closer review, it actually poses serious disadvantages for consumers.

The first issue is the timeframe to pay off the home loan. The average age of a first-time homebuyer has been steadily rising. Let's consider a typical 30-year-old buying their first home. If they opt for a traditional 30-year mortgage, they would pay off the home by the time they reach age 60. During retirement, they would only need to cover property taxes, insurance, and routine…

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Top Reasons to Use a Buyer's Agent for Your Vacation Home Purchase

Buying a vacation home is a significant investment, often more complex than purchasing a primary residence. While it might seem tempting to navigate the process alone to save on commission, engaging a buyer's agent offers invaluable expertise and can ultimately save you time, money, and stress. Here are the top reasons why hiring a buyer's agent is a smart move:

1. Local Market Expertise:
Buyer's agents specializing in vacation home markets possess in-depth knowledge of specific areas, including pricing trends, neighborhood characteristics, and hidden gems often overlooked by out-of-town buyers. They understand the nuances of the local real estate landscape, helping you find properties that perfectly match your needs and budget. For Park City and…

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Founders Place is Releasing its Last and Final Building

Founders Place is a unique and special mountain enclave at Deer Valley Resort, offering true slopeside ski-in/ski-out living in the gated alpine community of Deer Crest. Surrounded by pristine open space and free from road noise or long-term construction, Founders Place delivers a serene, personalized lifestyle nestled at the base of the Mountaineer Express chairlift. The Phase III Otto brings 24 new, exceptional two-, three-, and four-bedroom residences as well as an array of stunning penthouses to the slopes of Deer Valley. This new building boasts updated floor plans featuring spacious layouts. Founders Place is already an amenity-rich development, but new for Founders Place Phase III is the Wellness Den, a self-service recovery area at the base of…

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2024 Sotheby's International Realty Mid-Year Luxury Outlook

The brand’s first-of-its-kind mid-year report, delves into the pivotal, forward-looking issues shaping luxury residential property markets around the world.

We are pleased to introduce the 2024 Mid-Year Luxury Outlook℠ report by Sotheby's International Realty, which outlines the industry trends and happenings across high-end residential markets around the world. This year, policy shifts and global elections across nearly 80 countries are likely to impact property markets as voters hit the polls, and the trajectory of U.S. interest rates remains a key watchpoint for buyers, sellers, and international observers. Meanwhile, cultural investments like new museums and major art projects continue to mold desirable neighborhoods and bolster property…

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Salt Lake City to Host the 2034 Olympic Winter Games

IT'S OFFICIAL! SALT LAKE CITY WILL HOST THE 2034 OLYMPIC WINTER GAMES

Salt Lake City will be just the fourth region to host the Olympic Winter Games twice and will not require any new permanent construction. All 13 venues are already in place, each having played a role in the 2002 Games. All venues are within an hour's drive of the Athlete Village, which will be at the University of Utah.

Events will happen across the state, including Snowbasin Resort, Deer Valley Resort, Park City Mountain, Utah Olympic Park, Soldier Hollow, Delta Center, Peaks Ice Arena, Maverik Center, Rice-Eccles Stadium, Salt Palace Convention Center, Utah Olympic Oval, and downtown Salt Lake City for the Big Air event.

We are thrilled to welcome the world back to our…

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Halloween Trick-or-Treat on Park City's Main Street!

Halloween is a tricky holiday for mountain town living. When October 31st comes around, good weather is not guaranteed. We have seen sunny, blue-sky, 80-degree days and freezing, blowing snowstorms. Starting trick-or-treat activities early in the day can be valuable, especially in colder years. Once the sun sets over the ridgeline, it can get quite cold quickly.

A long-time local's favorite tradition is the annual Halloween celebration on Park City's historic Main Street. Closed for pedestrian traffic only from 3 pm to 6 pm, this is a great way to get a start on the trick-or-treat fun before dark. Dressed-up kids, parents, and even dogs travel up to Main Street, where most shops and merchants are kind enough to host PC residents and hand out bag…

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Deer Valley Resort Major Expansion Announcement

Deer Valley Resort® has just released news of a long-awaited announcement of a major ski terrain expansion and a new base village. Their "Expanded Excellence" will be a multi-year project expanding skiable terrain, skier services, and construction of a world-class, highly amenitized ski village at the base of Mayflower Mountain.

Deer Valley Resort® includes 2,026 acres, 103 runs, and 21 chairlifts over six mountains. The expansion will eventually add 3,700 acres, 135 runs, 16 chairlifts, and four mountains. The combined total is a whopping 5,726 acres, 238 runs, 37 chairlifts, spread over ten mountains in Utah's acclaimed Wasatch back.

The development of the new Mayflower Mountain ski village and portal, in partnership with Extell Development…

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Park City Real Estate Market Trends for May 2023

Reviewing real estate statistical data through May 2023, the amount of listing inventory has not increased, and the selling price of closed sales has not decreased. Sales have been steady, with selling prices at about 93-96% off the active list price. The days-on-market has continued to increase all year, now up to just over 100 days on average. The market feels active and somewhat balanced, with no clear direction favoring buyers or sellers. Now that we are into mid-June, we are seeing some good options coming to market, and we seem to see continued activity in sales. For buyers waiting for a significant slowdown leading to discounted buys, we just are not seeing signs of that type of market.

Number of Listings

The number of active and sold…

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