Current news and market updates for Park City real estate and Deer Valley real estate.  Updated often, a great resource to keep up to date on all happenings in real estate in the Park City and Deer Valley communities.

NEW CONSTRUCTION AT THE BASE OF TOWN LIFT ON MAIN STREET

At the intersection of the Historic Main Street and the Town Lift
lies the Heart and Soul of Park City Utah.

The last remaining parcel connected to the Town Lift Plaza will be going under construction this spring 2014. 820 Park Ave is an extremely rare and unique property as owners will enjoy the dining, shopping and nightlife of Park City's Main Street as well as the year-round recreation provided by the Town Lift to Park City Mountain Resort. This luxury condo building will feature a mountain-contemporary styling with the highest level of finish.

    

The building will be connected to the Town Lift Plaza so owners will walk right out their door to skiing and lift-serviced…

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The St. Regis Deer Valley is one of three pinnacle hotel real estate options in Park City, Utah. The other two are Stein Eriksen Lodges and The Montage. Each has its own unique aspects that truly sets these three properties apart from the other real estate offerings in Park City and Deer Valley. One of the most successful resort hotels in North America, the St. Regis Deer Valley has closed nearly $200,000,000 in sales since opening in December 2009. For buyers researching real estate in today's market, below is some helpful information on why to choose ownership at the St. Regis.

  • Ownership costs have been extremely stable. The HOA dues and property taxes have actually decreased since 2010.
  • Owners of units at St. Regis Deer Valley…

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Below is a list of our 5 top picks for ski-in/ski-out homes in Park City. This also includes Deer Valley and Canyons ski resorts, all three are within the town of Park City Utah. As local Realtors who live and work in Park City, we fully know the benefits of certain ski homes over others. While some ski homes may be more magnificent than others, and more luxurious, this list showcases our favorites for many reasons, as we state for each listing. You can read about each home below, and then click on the link to view more details on the home as well as other similar homes listed for sale.

Number 1:  8 Ruby Hollow in Red Cloud

Best Ski-in/Ski-out Access in Deer Valley's Empire Pass
Best of the best, at the very top of Deer Valley. 8 Ruby Hollow…

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Park City, Utah - October 24, 2013 – Park City real estate is building momentum in 2013. To date every month of 2013 has had a higher number of closed sales than in the same month last year, according to data released by the Park City Board of REALTORS®. The number of sales for the entire Park City market area, reached 1,668 in quarter three—that is 26% over last year’s number. With a total sales dollar volume reaching $1.19 billion, the third quarter of 2013 is up 34% compared to last year as well. The President of the Park City Board of REALTORS® said, “Our Realtors sold more in the first three quarters of 2013 than we did during all of 2012.” 

Inventory

The current number of active listings on the Park City Multiple Listing Service is…

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After such a long Buyer's Market through the recession, it's hard for many buyers to believe that we are in a Seller's Market. It's a tough adjustment for many as the Buyer's Market was so long that it had become the norm. Today's buyers still expect to get what they want, and for many, they are being shocked as the sellers are rejecting their offers, something buyers are not used to. The level of expectations of buyers today is high. Buyers who are living in the past are often asking for too much, and pushing too hard. They are stunned when sellers do not give in to their demands, and the outcome is many deals are falling apart, or simply never come together to begin with. The other problem for Buyers is waiting too long to make a move. Many find good…

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Summary of Condo-Hotel Financing Options

After the real estate meltdown, we had been experiencing a lot of difficulty with financing for our ski town condo properties. We were often unable to find financing for our clients looking to purchase condo-hotel properties. The problem with that was that so many condominium developments here in Park City and Deer Valley fell into the condo-hotel classification. This has been a problem found in many resort markets. Additionally, when clients insisted on using a lender outside of our Park City resort market, they were ill-equipped to handle the condo-hotel difficulties, and often totally unaware of the pitfalls associated with them. It was common to get all the way to the end of underwriting to finally be told…

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"Can I sell my home on my own, as a For Sale By Owner?" 

As the real estate market continues to heat up, many homeowners are questioning if they can sell on their own and save on the commissions that would be paid to a real estate agent. Yes, you could try it yourself, and you might be succesful, and you might save some money - but, it is a risk. Selling real estate is more complicated than people would think. When a real estate transaction goes through smoothly, most sellers and buyers do not quite realize that the smoothness may have been from the expertise and professionalism of the Realtors involved. However, if you want to know a little more about selling on your own, we have some good info for you below.

 

Steps to Selling Your Home on…

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Construction has begun on a brand new real estate development in the Silver Lake area of Upper Deer Valley. The project has long been referred to as North Silver Lake, but will now be named the Stein Eriksen Residences. The developer, Regent Properties, has recently restarted construction of the infrastructure and a model home. The new development will include a mix of homes and condos for sale, situated at the intersection of Deer Valley Resort's "Last Chance" and "Silver Dollar" ski runs. Most residences will have spectacular views and all will have ski-in / ski-out access. The site has been entitled for 38 luxury condominiums in five buildings and 16 townhomes and single family residences, for a total of 54 units. All residences will have access to…

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PRESS RELEASE

 - August 2, 2013

Park City Enjoys Largest Quarter of Real Estate Sales in Five Years.


Both the number of sales and the median sales price are up over last year's numbers in the Greater Park City Area according to the 2013 second quarter statistics released by the Park City Board of REALTORS®. With a total of 991 sales to date — a 19% increase over the same time period in 2012 - the first half of 2013 had the highest number of sales since the first half of 2007. In fact, the number of sales is 21% higher, by quarter, than any quarter in the last five years. The total sales dollar volume is also up 19% over the same time-period last year, reaching over $698 million to date, which is also the highest total dollar volume since 2007. The…

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Buying real estate after passing the bottom of the market can be one of the best times to buy property. Yes, if you missed the bottom of the market, you may have missed out on some of the best deals seen in a long, long time. But, when the market was at the bottom, nobody really knew that for sure. It was a time of major uncertainty. Let's take a quick look at the ups and downs we typically see in real estate market trends and we'll see why buying right after the market bottom can be such a good time to do so.

Across the country, we seem to have just recently passed the bottom of the market.

Below we have an illustrated chart showing the natural cycle and trending of a real estate market. The chart shows the increase of a market to it's…

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