Park City Real Estate Trends

Is this Subdivision Going to the Dogs?

By Todd Anderson
Dec 14, 2017

Park City, UT is often referred to as “Bark City” by its residents, but many Home Owners Associations aren’t so dog friendly. What can you do when your Buyer or Renter has an emotional support dog?

I met someone the other night at a social function who told me he was a member of a home owners association board of directors. He mentioned having recently dealt with a renter with an Emotional Support Animal.

The Homeowners Association (HOA) has a strict ‘no dogs’ policy. The renter presented the HOA with a Certificate of Registration for the dog and a letter from a psychiatrist stating that the dog is an essential part of the renter’s treatment for anxiety. So, the question becomes: which one wins, the rules of the HOA or the renter?

Park City DogsA 2013 newsletter from the US Department of Housing and Urban Development (HUD) states this:

The Fair Housing Act prohibits landlords from discriminating based on disability, race, color, national origin, religion, sex, and familial status.

Further: “Disability-related complaints, including those that involve assistance animals, are the most common discrimination complaint we receive. This notice will help housing providers better understand and meet their obligation to grant reasonable accommodations to people with disabilities that require assistance animals to fully use and enjoy their housing.”

HUD’s new notice explains housing providers’ obligations under the Fair Housing Act, including the requirement to provide reasonable accommodations to people with disabilities who require assistance animals. Pet restrictions cannot be used to deny or limit housing to people with disabilities who require the use of an assistance animal because of their disability. Housing providers must grant reasonable accommodations in such instances, in accordance with the law.

In effect, the renter is stating that they have a disability and that there is little that the HOA can do in terms of disallowing the dog without being in violation of the Fair Housing Act.

The HOA director I met checked with a friend who is a lawyer who told him that: “you don’t want me to fight this, you can’t afford it.”

In a recent dealing with a client with an emotional support dog, I initially thought to nudge toward Park City complexes that do not have a ‘no dog’ policy, but I realized that even that could be construed as a violation. In the end I made sure that the client was aware of the policies of the HOA’s and directed this potential Buyer to a few attorneys that specialize in dealing with these issues.

Comments or Questions? Contact the YouInParkCity.com Group (435)962-9472

Things to do in Nearby Heber City and Beyond

By Todd Anderson
Nov 23, 2015

Promontory Real Estate

Did you know that just outside of Park City, there’s a wide open range of activities that you can enjoy all year round? Here’s a quick look at one our favorite of the outlying areas — Heber City — and things you can do and see there.

Heber City is located just 15 to 20 minutes from Park City and is a wonderful town to visit. If you are a golf enthusiasts there are two great courses — The Homestead and Wasatch State Park. Both of these courses offer golfers beautiful scenery to enjoy a round or two. You’ll also find another 2 courses at Soldier Hollow State Park, which was the site of many of the Nordic events during the 2002 Olympics.

Railroad enthusiasts should not miss the historic Heber Valley Railroad. This attractions travels between the Heber Valley and Vivian Park in Provo Canyon and offers some spectacular scenery along the way.

In nearby Midway at the Homestead Resort, go diving in the Homestead Crater. This is a tower 55-feet tall, beehive shaped geo-thermal dome filled with 90 degree water. This is a favorite spot for scuba divers and other that want to experience an underground phenomenon.

Ice Castles in Midway is open from late December to March (weather permitting) and offers visitors a winter wonderland full of extreme ice sculptures. You can walk through archways, tunnels, glossy rooms during this architectural ice adventure.

The Jordanelle Reservoir and State Park offers a wide variety of recreational adventures. You can go boating, skiing, or paddle boarding on this expansive body of water. Fishing is abundant, and for those who prefer dry land, there are miles of hiking trails.

If you are looking for a snow-based adventure that doesn’t involve skis or boards, check out Soldier Hollow Tubing. This attraction features 1,200 foot lift-served sliding lanes. You can enjoy this winter fun day or night, and you’ll love the wonderful sound system filling the air with your favorite tunes.

Take a tasty break and visit the Heber Valley Creamery. This creamery offers a variety of artisanal cheese and other dairy delights such as raw milk and ice cream. There are also several historical sites that you can visits such as Heber Fort and the Heber City Cemetery. One perennial favorite is the Commemorative Air Force Utah Wing Museum. This museum is home to many historic planes including many from World War II.

If you are interested in knowing more about this fantastic area, feel free to contact us!

Park City Golf Course Home Sales 2015

By Todd Anderson
Nov 08, 2015

With winter now upon us how did sales at Park City’s local golf     communities fare for the summer 2015 season? Here is a review focused on property adjacent to Park City’s the golf courses.

Park City Municipal Golf Course:

The Old Town and Thaynes Canyon areas have homes and condominiums on and near the golf course. There is currently one active new construction home on the course and two that sold this summer. There are five condominium complexes on or near the course (Three Kings, Park Avenue, Hotel Park City, All Seasons and Payday); there are currently eight active listings, one pending sale and nine completed sales this summer ranging from $345K-$1.2M.

Park Meadows Country Club:

Home on the Park Meadows Golf Course For Sale Home on the Park Meadows Golf Course For Sale

The community around the Park Meadows golf course is one of Park City’s most desirable areas. While there are 37 active listings in the area, only four are truly on the golf course asking prices start at $1M for a condominium and $1.549 for a single family home. Of the 28 sales in the area this golf season, only 2 were on the course.

 

Glenwild

The gated community of Glenwild surrounding the course that usually receives Utah’s number one golf course ranking saw a bump in sales this golf season with four sales although none were on the course.  There are still twenty homes for sale in the area but there are also ten homes in some stage of construction which we believe is a strong positive sign for the area. Six of the available homes are on the golf course with prices ranging from $2.1M to $10M.

Jeremy Ranch

Home next to the 4th hole at Jeremy Ranch Golf & Country Club Home next to the 4th hole at Jeremy Ranch Golf & Country Club

With over 700 residences, not many of the homes and condominiums in Jeremy Ranch are truly on the golf course, but of the 43 sales this golf season, six were on the golf course.  Prices ranged from $585K to $1.3M. Of the 36 homes currently on the market in Jeremy six are on the golf course including one of the few available building lots offered at $360K. Homes range from $885K to $1.9M for golf course side homes.

Promontory

Promontory Golf homes New Construction near the clubhouse at the Nicklaus Designed Painted Valley Course

The Promontory area encompasses much more than golf and the area itself represents nearly 10% of the sales in the Greater Park City area.  Eight of the 32 homes sold this golf season were on the golf course with prices ranging from $1.055M to $4.15M. Currently 14 of the 62 available homes are on one of Promontory’s two world class golf courses.

 

Red Ledges

None of the twenty homes currently listed for sale at Red Ledges are truly on the golf course but approximately ten of the building lots are adjacent to the course. Plus there are a few lots that will be on the recently sodded par 3 course due to open next year. While not truly in Park City, Red Ledges is an easy drive to Park City and has many amenity associations with Park City and Deer Valley Resort.

Victory Ranch

Similar to Red Ledges, there are very few options that are truly on the golf course at Victory Ranch and at this point any options would be building lots rather than homes. Many sites will provide great golf course views, but few will be actually on the course. Victory Ranch is the most remote of Park City’s golf course communities, but a “clubhouse lounge” on Main St gives it great ski access during the winter.

Golf in Park City can be as long as an eight or nine month season for those willing to bundle up (clubs are still in my car today on Nov. 6) and sometimes the best deals can be found when the fairways are covered in snow. Contact a golf course home specialist at YouInParkCity.com now and get a jump on the 2016 season.

What’s new in Historic Old Town Park City real estate?

By Todd Anderson
Oct 06, 2015

One of the areas in Park City where there is value being created by scarcity is Old Town. In the span of years from the mid 1800’s until now most of the lots have been built on. In a typical real estate cycle homes will age and then be torn down to develop new product. The difference in Old Town is that there are a significant number of structures on the Historical Register and these cannot be removed to build new structures. These structures include homes, sheds, garages and even chicken coops. Depending on the historical designation many of these structures cannot even be moved. This is why new construction in Old Town is so valuable.

That being said there are some exciting new construction opportunities in Old Town Park City.

The Parkite & 820 Park Ave

The Parkite:

This redevelopment of the Main Street Mall is nearing completion. Located on upper Main Street these 15 condos located in the heart of Old Town’s Historic District is a must see for Park City’s luxury buyer. For more information or to view available listings click The Parkite.

820 Park Avenue:

There are only three condominium subdivisions contiguous to the Town Lift Plaza ski lift and 820 Park Avenue, which is nearing completion, will be the newest most luxurious of the three. All ten of these condos are under contract.

Single Family Homes:

Sampson Ave, Echo Spur and King Rd

There is a s home on King Road that is under construction with an undetermined completion date. It will be between 1800 and 2100 sf and have three bedrooms and three baths. There is a possibility that there will be a basement added but at this point we are unsure.

A recent sale of a home on Sampson In the historic district that had all of the bells and whistles. There was no detail over looked. This home had 5 bedrooms and 5 bathrooms with a total sf of 3,870. This home sold at $4,000,000 for a per sf price of $1,034.

Echo Spur:

Echo Spur is a new Subdivision of 7 homes on Rossi Hill. Most of the homes will have exceptional views up to Empire Pass in Deer Valley. The most unique element to these homes will be the developer’s commitment to building a “Green Home”

45 King Road:

We identified a 10,000+ sf parcel that had a historic home on it and, for one of our investors, spearheaded the process with the city staff, historical planners and the City Council to get it re-platted. A typical Old Town lot is 1,875 sf. By combining parts of 8 different lots that made up this parcel we were able to create two 5000+ sf lots. We also worked to get the design and plans approved for a new home that incorporates the historic home. Construction is now underway on a 3400 sf home 1 ½ blocks from the top of Main Street on a flat lot a shared private drive. The views are exceptional. This home should be available in early summer of 2016. For more information contact Rob@YouInParkCity.com

There are other homes and condominiums in the design or construction phase. To find out which home might be the best fit for you or to determine the value of your property in Old Town contact the  YouInParkCity.com Group at KW Park City Keller Williams Real Estate (435)962-9472.

Home Upkeep during Winter: How to Keep Your Property Values Up Through Proper Winter Home

By Todd Anderson
Sep 24, 2015

Wsnow-winter-chairs-seatsinter preparedness is essential in the Park City area, especially when it comes to your home. When you properly care for your home during the cold months, it can not only keep you warm, but can also maintain your property values.

Here are a few tips for winterizing your home.

Drain your outdoor watering systems. You should drain and blow out your sprinkler systems. In addition, you should ensure that your outdoor spigots are drained as well.

Ensure that your pipes are well insulated. Proper insulation of your pipes can help prevent pipes from freezing and bursting. If your pipes are not well insulated, you should have your faucets open to a trickle to prevent freezing.

Install weather stripping. Use caulk and weather stripping around any doors and windows that may have large gaps that allow cold air in. You can also use expanding foam. Using shrinkable plastic over leaky windows can also help keep the cold air out.

Exterior drains and gutters should be free of debris. If your gutters and drains are not clear, they may back up when the snow melts. This can cause them to get weighed down and break, which can be costly to repair.

Tune up your furnace. Your furnace should be checked by a professional about every other year. Additionally, your furnace filters should be changed regularly. These steps will ensure that your furnace is working efficiently. Also, the filters collect dust and debris so when they are dirty, your furnace may have to work harder to warm your home.

Have your chimney inspected. Soot can collect in chimneys and clog it, which can be a fire hazard. Have your chimney inspected each year before the winter season to prevent serious issues.

Cover your outdoor furniture. Put a cover on your grill and any other outdoor furniture. Over time, cold and snow can damage wood and metal.

Proper home maintenance can help you avoid costly repairs, as well as help you keep your property in the best shape possible.

If you would like more home care tips, the professionals at YouInParkCity.com and KW Park City Keller Williams Real Estate have the knowledge and experience to help you. If you are interested in selling or purchasing properties in the area, we can also help guide you through the process. We are here to help!

Park City Named Friendliest City!

By Todd Anderson
Aug 28, 2015

Park City, UTWas it a surprise when we found out that Park City was recently named in a Conde Nast readers’ poll as the Friendliest City in America? Actually no, it wasn’t! All of us at KW Park City Keller Williams Real Estate and YouInParkCity.com know the myriad reasons we were awarded such a standing.

Park City was actually highlighted in a slide show on CNTTraveler.com — a site that reaches nearly 2.6 million travel enthusiasts — titled “The 2015 Friendliest and UnFriendliest Cities in the U.S”.

There are so many reasons for Conde Nast to say Park City is a “great place that brings city life to outdoor enthusiasts, film geeks and families”. We also like to point out that Park City is a well-known travel destination renown for hip culture, a rich history and of course, its exciting party atmosphere.

Readers participating in the survey were asked to rate different cities as to whether or not the felt welcome. Other cities that joined Park City in the friendliest category included:

  • Burlington, Vermont
  • New Orleans, Louisiana
  • Jackson, Wyoming
  • Asheville, North Carolina
  • Santa Fe, New Mexico
  • Austin, Texas
  • Nashville, Tennessee
  • Charleston, South Carolina
  • Savannah, Georgia
Visitors and locals alike love the warmth and atmosphere of the city, whether they are enjoy the great banter from bartenders at establishments such as The Spur, The No Name, or O’Shucks. They can also enjoy high-end service at places such as St. Regis and the Montage — there’s something for everyone.

We can’t forget to point out that our area ski resorts have also ranked high on the ratings for their customer service and satisfaction from both visitors and residents. There really is no better place to ski that Park City.

Not to mention the great summers we have with all sorts of great activities such as hiking, biking, and fishing. And of course, you’ll be finding yourself among some of the friendliest people around during the many outdoor concerts happening all summer long.

KW Park City Keller Williams Real Estate and YouInParkCity.com are proud to be a part of what is now known as the “Friendliest City in the U.S.”. We invite you to stop by and check out some great real estate that can put you in the heart of this area so you can experience all the wonderful aspects of our great city.

Jeremy Ranch Real Estate Park City 2015

By Todd Anderson
Jun 18, 2015

Real Estate information for the Jeremy Ranch area of Park City, Utah for the first half of 2015.

The Jeremy Ranch area of Park City is the sunny side of the highway across from Pinebrook. The neighborhood surrounds the private Jeremy Ranch Golf and Country Club golf course. Jeremy’s northern open space boarder is a great elk habitat and a number of hiking and biking trails accent the area. The local elementary school is considered one of the best in the state and the proximity to Salt Lake City and Park City makes this a very desirable community.

Real estate in Jeremy Ranch is experiencing similar market pressures as seen in other Park City communities; high buyer demand with relatively low inventory for sale.

Jeremy Ranch homes for saleOn June 10, 2015 there were 30 single family homes and no condominiums for sale in Jeremy Ranch. The last six months has seen 19 home sales and 11 condominium sales. Single family home sales are the same as a year ago but the median price of the homes sold has risen nearly 30% to $875,000. Condominium sales nearly doubled from the same period last year, but the median sales price has only risen by 15%. This mirrors most of Park City as recent sales prices for single family homes have risen more than condominium sales prices.

A quick look at the pending sales shows that homes priced well are moving quickly. Of the ten current pending sales in Jeremy Ranch, six (60%) were on the market less than two weeks. Normally only 25% of active listings sell in the first three weeks, indicating that current buyer demand is strong.

This strong demand for homes in Jeremy Ranch is great for Sellers but bad for Buyers. Working with the YouInParkCity.com Group at KW Park City Keller Williams Real Estate will give you an advantage whether you are Buying or Selling. Contact us to discuss the advantages of putting us on your side.

Pinebrook Real Estate Park City 2015

By Todd Anderson
May 27, 2015

Real Estate information for the Pinebrook area of Park City, Utah as of Memorial Day Weekend 2015.

The Pinebrook area of Park City remains a desirable primary home as well as second home location offering great trails, parks, local amenities and easy access to Park City’s Resorts and Main St. as well as Salt Lake City. Pinebrook Homes and Condos For Sale | Park City, Utah The current housing market in Pinebrook mirrors the real estate market in Park City with limited supply of homes and condos for sale and great Buyer demand.

There are 18 active Single Family Home listings across the Park City Board of Realtors MLS with prices ranging from $449,000 to $1.5 million. There were 18 sales in the past six months ranging from $550,000 to $1.2 million. This translates to a six month inventory supply (a limited supply in terms of Park City due to its combined primary and second home nature). Looking back at the same time period last year, there were also 18 single family home sales BUT the values of the homes sold has increased dramatically. In the last six months there were six sales over $900,000 while the same time last year had zero. Of the eight current pending sales three have asking prices over $1.3 million. The median sales price over the past six months was $797,125 while for the same period last year it was $696,500.

The lack of Pinebrook homes and condominiums for sale represents obstacles for both Buyers and Sellers. The YouinparkCity.com group at KW Park City Keller Williams Real Estate is ready to help you navigate the Park City real estate market.

For Buyers we will educate you and keep you informed of market changes, recent sales, pending sales, back on market listings and homes not available on the MLS. In today’s market finding a house is often the easy part; negotiating the contract, working through the discovery and remediation processes of due diligence, navigating the financing appraisal hurdles while keeping a cool head with a focus on the end goal are just part of what we do.

For Sellers we pre-market and market your home in such a way that the buyers and their agents are educated to the value it represents to ensure you get the most you can from your home with the least amount of hassle in a timeframe that suits your needs. Similar to the Buying side, getting an offer is often the easy part of the process; negotiating for you while navigating multiple offers, repairs, addenda, title issues and more again are just part of what we are doing behind the scene of your sale.

If you or someone you know is thinking of buying or selling a home or condo Pinebrook or the greater Park City area, contact a YouInParkCity.com realty professional.

Search Pinebrook homes and condos For Sale

Victory Ranch Revisited

By Todd Anderson
May 04, 2015

Much more than one of the Best Golf Courses in Utah.

If you’ve read up on Victory Ranch through YouInParkCity.com you are aware that we consider the golf there one of Utah’s Best; a recent excursion reminded us that it is so much more.

Changes at Victory Ranch recently have made great enhancements to the outdoor lifestyle and the community feel of Victory Ranch.

The 350 residences nestled around the golf course are bordered by large open spaces (Victory Ranch covers 6700 acres).

Construction within the community include new golf “cabins” with spectacular views.

Victory Ranch 1

River Cabins that can be used while you are building or as over-flow for your guests, are well appointed with a feel of being away from it all just outside your door.

The Post is well on its way with framing complete and construction workers feverishly moving forward, the building will be the centerpiece for member activities including gym facilities, an outdoor pool, lunch to go and gathering spaces.

New this spring was the addition of the Ski-in/Ski-out Clubhouse for Victory Ranch Members at the base of the Town Lift on Main St in historic downtown Park City. It is a perfect before and after ski locker space and lounge area.

Over 4000 of Victory Ranch’s 6700 acres is designated as “Backcountry” set aside for exploring on foot, horseback or in four-wheel drive ATV’s. More than 20 miles of mountain bike trails run through the Backcounty; easily accessed on the complimentary full suspension or fat tire mountain bikes.

The Double Barrel is a 5-stand shooting facility with 5, six clay target launchers and experienced range masters can make even someone that has never handled a shotgun feel comfortable and have fun.

Double Barrel shooting at Victory ranch

Victory Ranch’s location along the Upper Provo River has always been one of the things that differentiated it from other second home options in and around Park City, Utah. Its four miles of private world class fly fishing truly sets it apart. Stocked ponds on the property offer a perfect introduction to the sport.

Our most recent outing at Victory Ranch courtesy of its year-round concierge and activity guides gave us an overview of its amenities that reinforced our feeling that this is a truly special private community.

Not all ownership opportunities are listed across the MLS and there are new river view and golf view homesites that we feel are great opportunities.

For more information and a tour of Victory Ranch contact YouInParkCity.com.

Deer Valley Real Estate Ski Tour #2

By Todd Anderson
Feb 21, 2014

Ski-in/ski-out homes and condominiums represent the ultimate ease and convenience when it comes to a ski vacation. In this tour, we will be skiing Deer Valley Resort with a focus on the Deer Crest Subdivision.

 

The first Deer Valley Ski Tour focused on the homes around Bald Eagle Mountain. With the exception of the Bald Eagle Club area, all of the homes and condominiums could be reached on skis as well as by car. The Deer Crest area by contrast is all within a private gated community, so driving the area isn’t possible and skiing to many of the homes without permission also is not possible. Many of the Deer Crest properties can be seen on skis from the lifts and public trails at Deer Valley Resort. Deer Valley Ski Homes at Deer Crest

 

The start of our ski tour of the Deer Crest area will begin at Deer Valley’s Snow Park base area on the Carpenter Express lift. From the top of the chair, ski back toward Snow Park while bearing right on the Little Stick ski run. Little Stick is an easy intermediate level trail effectively a “cat-track”, the run was the start of the Olympic Slalom course in 2002 and it offers great views of the Snow Park Base area and the Lower Deer Valley community. Little Stick merges with the Deer Hollow Run and enters the Deer Crest area just above the St Regis Hotel.

 

The Deer Hollow trail is the ski access for the St Regis at Deer Valley (condominiums and residences). The funicular visible from Snow Park is the non-ski guest access for the resort. Current ownership opportunities at the St Regis Deer Valley start at $1.37M for a 1-bedroom 2-bath model and range up to $18M for a 5-bedroom 7-bath custom penthouse residence. Skiing out of the St Regis is on the Deer Hollow trail to the Mountaineer Express lift then down Deer Hollow to Little Stick to access the rest of Deer Valley Resort via Snow Park.

 

For our tour we will exit the Mountaineer Express to the left and onto the Jordanelle ski run at Deer Valley. The Jordanelle ski run at Deer Valley from the top of Little Baldy Peak to the base of the gondola is the only public access trail winding through the homes in the Deer Crest Estates area. The ski runs through the Deer Crest area are a little steep and narrow for beginners, but they are well maintained and generally not crowded. Most all of the homes will access the Jordanelle Gondola and then ski down into Snow Park to access the rest of the mountain. There are approximately ten homes and homesites that have direct ski access to Snow Park without skiing down to the gondola first.

 

The Jordanelle ski Run passes a few homes for sale and offers a good idea of the ski-in/ski-out access of others. As the trail flattens out you’ll note a sign where the gondola to the Deer Pointe Villas as you approach the gondola, the Deer Crest Townhomes are visible just to the south. The gondola ride back to the top provides views of more Deer Crest Estates homes and a glimpse of the possible future expansion area at Deer Valley to the south. The gondola tops out at the top of the Deer Hollow ski run; follow this back to Little Stick and into Snow Park where this real estate ski tour started.

 

For more information about ski-in/ski-out homes at Deer Valley Resort, contact a ski real estate specialist with the YouInParkCity.com Group at (888)968-4672.

 

The Best Ski-In/Ski-Out Deer Valley Homes & Condominiums

By Todd Anderson
Dec 17, 2013

Ski-in-ski-out homes and condominiums are the pinnacle of mountain resort properties. These slope side homes and condominiums are the ultimate in ease, convenience and time savings for your ski holidays. In Park City, Utah Deer Valley Resort has the most offerings when it comes to ski-in/ski-out real estate opportunities. There are currently just over 150 homes and condominiums in the Deer Valley area that can be classified as ski-in/ski-out (for our purposes, we will consider anything that is a shorter jaunt from the door to skiing than from the resort parking lots to the lifts to be ski-in/ski-out).

 

Of course, not all ski in and ski out locations are equal and there are many considerations that need to be made when it comes to choosing the location that is right for you. Which runs are most easily accessible? Some ski-in/ski-out locations may require advanced skiing level capabilities to ski in and out (this might be similar to a beachfront home with big surf, great if you are a big wave surfer, but if you want to swim you may need to drive to a calmer location). What non-skiing amenities are nearby? Maybe this trip you just want to relax, take a walk, spa, etc. How far will you have to go to get a coffee and catch up on some reading? Are there restaurant options nearby (and how many of them)? Most of the Deer Valley real estate options have a full kitchen, but if you don’t want to cook or bring in a private chef, how easy is it to go out for a quick bite? How are the neighbors and the neighborhood? Arriving to your single family home tucked in the trees and next to the ski run is far different from pulling into the multi-story full service hotel; there are positives and negatives to each. The question is which one is right for you.

 

There are four different areas defined by the Park City Board of Realtors that include ski-in/ski-out Deer Valley properties: Deer Crest, Empire Pass, Upper Deer Valley, and Lower Deer Valley. Each of the areas offers a different feel, ski access and nearby amenities. The Lower Deer Valley area contains only a handful of options that meet our ski-in ski-out criteria while the other three have the majority of their properties fall into the ski-in/ski-out classification. Contact a resort real estate professional with YouInParkCity.com to help you understand the differences and purchase the ski property works best for you. (888)968-4672

 

Here are a couple of our favorite ski-in/ski-out Deer Valley homes and condos:

 

Bellearbor Home in Upper Deer Valley

Trails End 1

Park City Utah’s Hottest Real Estate Neighborhood

By Todd Anderson
Jul 31, 2013

Park City Real Estate prices have been trending up for the past year or two now (we here at YouInParkCity.com called the market bottom around February of 2012). Some areas are seeing prices rise much faster than others.

 

Summer generally sees an increase in sales of the low to middle price point single family homes in Park City and this year has been no exception. Areas with easy access to Salt Lake City as well as local Park City amenities are in the greatest demand.

 

A few of the areas that we generally see heat up during the summer include Silver Springs, Park Meadows, Trailside Park, and Jeremy Ranch, Pinebrook and Prospector. The first half of the year shows Trailside pricing up by 23%, Park Meadows up by 25%, and Pinebrook up by 15%. The variables of the home sizes and age make the relatively small number of homes sold a year ago have the ability to skew the numbers, so while prices are definitely up, home values have not increased by these amounts.

 

home prices in Park City, Utah are on the riseThe Snyder’s Mill area of Silver Springs though may actually have seen this type of increase. While the Park City Board of Realtor statistics show only a 7% rise in prices for the Silver Springs area, sales in Snyder’s Mill represent one of the hottest neighborhoods in Park City. This year has 4 of the top ten highest sold prices that have ever been paid for a home in the Snyder’s Mill subdivision of Park City. Three of the homes have sold recently are the 2nd, 3rd and 4th highest per square foot values that have ever been paid in the Snyder’s Mill area. Current pricing and sales are eclipsing the peak pricing from 2007. When the subdivision was originally built in the early 1990’s, homes sold for as little as $90/sq ft. Tastefully remodeled homes in Snyder’s Mill are now selling for over $300 per square foot.

 

The combination of a well-kept neighborhood in a central location with easy access to Park City (historic as well as the new area at Kimball Junction) and pricing in the sweet spot of the Park City real estate market ($500K-$800K) make Snyder’s Mill one of the hottest real estate neighborhoods in Park City, UT.

 

For information on buying or selling in Snyder’s Mill or any Park City area neighborhood contact a real estate professional with YouInParkCity.com (888)968-4672.

Promontory Golf and Real Estate Review

By Todd Anderson
Jun 08, 2013

The Promontory development of Park City, Utah bills itself as a four-season resort with activities and amenities geared toward year round use, but its two golf courses place it firmly in the golf community real estate category for the summer months.

 

Promontory Real Estate Views from "The Shed" at Promontory

The Promontory community has weathered the downturn and financial crisis well and could be said to actually have benefitted from it in certain aspects. Promontory is without a doubt the most amenity rich option of the social club and golf communities in the Park City, UT area. The amenities they offer and the scope of their membership opportunities have grown each year.

 

Golf Digest for 2013 ranked the Dye Canyon Course as #3 in the state followed by the Nicklaus Painted Valley course at #4 in the state. The Pete Dye designed Canyon Course also was named as #48 of the top 100 public golf courses by Golf Digest.

 

Real estate sales at Promontory show similar numbers for the past 12 months as the preceding 12 months, but there is a different feel. Pricing of the sales is up. The median sales price on building lots is up 20% and the median price on sold homes is up 15%. The number of distressed sales at Promontory has dropped dramatically. The last 12 months shows 16 sales of homes for a price of under $300 per square foot while the previous year had 27 such sales in the same number of total sales. There are currently 6 offerings on the Park City MLS in Promontory for under $300 per square foot of the 55 active sales.

 

The recent sales data at Promontory has been strong enough that the developer (The Pivotal Group) is beginning to re-introduce developer owned lots as well as increasing their “cabin” home offerings. Developer owned lots and cabins at Promontory can include memberships and delayed or deferred social club and golf fees which need to be considered as part of the Promontory amenities, so not all purchase prices are equal.

 

Non-golf related developments are a huge contributing factor to the value at Promontory. The Shed which opened last year has been a huge success. This year’s new additions include a “dog park” athletic and social club refurbishing and an additional pool. Most noticeable are the $1M spent by the Promontory Conservancy on trees.

 

With the total development still being less than have done and still a large number of resale opportunities; there is quite a bit of territory and many options to consider. For a tour and assistance in navigating the options at Promontory contact a golf realty specialist with YouInParkCity.com at (888)968-4672.

Red Ledges Golf Real Estate & Community Update 2013

By Todd Anderson
May 16, 2013

The Jack Nicklaus signature course at Red Ledges just seems get better every time we play it. In 2010 and 2011 Golfweek Magazine ranked it as “Best of State” and we think it is certainly in the top 3. There were no major changes made on the course last year. The reworking of several of the greens that was done a few years ago to make those greens more receptive and hold shots has paid off. The bent grass greens have had a couple of growing seasons since the alterations and they are rolling true and holding good shots. Red Ledges Golf - Park City

 

Red Ledges, one of Park City Real Estate’s premier golf communities, sold 48 properties in the in the past 12 months. For the same time period last year there were 36 sales. This shows a very healthy improvement. Part of what we see as very encouraging (for Park City’s golf community market) is that 10 lots were sold to smaller builders who intend to break ground on spec homes. New homes being built and in the planning stages is yet another sign that the Park City Real Estate market is turning the corner. Another positive indicator that Red Ledges is healthy is that a new neighborhood is breaking ground. It is called Mountain View. Mountain View will offer 4 models that will be priced in the $500,000 to $700,000 range. Red Ledges is differentiating itself in Park City’s golf market by offering homes in more price ranges than the other golf communities. With a few lots still available for under $200,000 and single family homes starting in the $500,000 range Red Ledges has with increased their pool of buyers compared to the other Golf communities. Golf or lifestyle memberships are currently included in developer sales but we expect that to come to an end soon.

 

Red Ledges amenity package now includes the Jack Nicklaus 18 hole championship signature course, a comprehensive practice facility, the Jim McLean Golf School, the Cliff Drysdale Tennis academy, a golf shop, and swimming pool and equestrian programs. The most exciting news is that they will be breaking ground on the Clubhouse next month. The current goal is to have all of the planned amenities in place in the next 5 years.

 

For more Red Ledges real estate information or for a tour of the community and facilities contact a realty professional with the YouInParkCity.com Group at (888)968-4672.

Montage Deer Valley Real Estate

By Todd Anderson
Dec 02, 2011

 

We are close to having one year of sales data for the Montage at Deer Valley and the sales data shows surprising strength given the overall market and world economy. Thirteen sales have been completed for Montage Deer Valley Residences. The sales represent just over 15% of the available units but were nearly 50% of all sales in Park City’s luxury real estate enclave of Empire Pass. Sales prices have ranged from $1.6M to $8M.

 

The latest release of residence models at Montage Deer Valley will feature a showcase residence that is a collaboration between interior designer Philip Gorrivan and One Kings Lane (a leading online site for designer décor, furnishings and accessories). The 3471 square foot home is a two story three bedroom, three bath model featuring a large great room, dining room, gourmet kitchen, and den. Three private balconies offer incomparable ski resort and valley views. The designer elements in the home have created a mountain modern feel in which each room has its own unique sense and appeal to the luxury Park City lifestyle. Our recent tour through this home was impressive.

 

The home will enjoy access to all of the Montage Deer Valley spa and resort services and amenities; not the least of which is its slope-side Deer Valley location.

 

For more information about this special Montage Deer Valley home or a private tour focused on luxury Park City and Deer Valley real estate contact YouInParkCity.com at (888)968-4672. The Montage Deer Valley

Search All Montage Deer Valley Listings

Lower Deer Valley Real Estate 2011

By Todd Anderson
Nov 16, 2011

With 45 days left before the end of the year, we probably won’t see significant changes in Park City real estate sales totals.

 

Current for sale inventory in Park City’s Lower Deer Valley area includes 28 single family homes and 54 condominiums. This number will likely rise slightly as we move closer to the ski season.

 

To date there have been 7 single family home sales this year and 2 other homes have accepted sales contracts. So the inventory levels indicate a 3-4 year supply of single family homes in the Lower Deer Valley area. The inventory varies greatly with offerings ranging from $775k to just over $3M. Lower Deer Valley has some homes that are beginning to show their age; this fact can be seen in the variations of asking price with the least expensive homes in the low $200’s/square foot and the highest end well into the mid $500’s/sq.ft. Single Family homes sales for Lower Deer Valley are likely to lag 2010 numbers by nearly 30%.

 

Condominium sales in the Lower Deer Valley area of Park City show a strong increase versus 2010, but there are factors that have skewed this number dramatically. To date 49 condominiums have sold in Lower Deer Valley and another 6 have pending sales contracts. With 53 active for sale condominium listings, the current inventory represents just over a one-year supply. Lower Deer Valley condominium sales totaled 32 for 2010, so this year’s numbers at first blush are very strong. The twist is that 22 of the sales were bank (or corporate) REO properties. The sales of the bank owned condominiums had an average sales price in the low $300’s per square foot. By contrast, the average sales price for non-bank owned properties was over $375 per square foot.

 

Many of the homes and condominiums in the Lower Deer Valley area were built from the early 1980’s through the mid 1990’s and many of the properties are “showing their age”. The new construction in the past few years in the Empire Canyon area of Deer Valley has impacted sales greatly as buyers tend toward more “turnkey” products. The Lower Deer Valley area offers great access to all Park City has to offer and there are definitely gems to be found in the for sale listings. For information regarding specific realty listings in Lower Deer Valley, contact YouInParkCity.com at (888)968-4672.

Search Lower Deer Valley Real Estate

 

Promontory ‘Steals’ Getting Harder to Find

By Todd Anderson
Feb 13, 2011

             A look at sales for 2010 shows that the Promontory Club area of Park City was one of the sales "hot spots".  87 Homes and Vacant Lots were sold in the Promontory area during 2010. This accounts for over 9% of all the sales in the greater Park City area for the year.             To date there have been about 800 lot sales in Promontory and there are currently about 300 completed homes with another 25 under construction. The Promontory area was hit hard by the economic downturn, but recent indications show that investors and value shoppers are buying the deals up quickly. The developer is waiting to release new areas and building lots when they feel that prices and inventories warrant new product.             Promontory executives currently consider any lot priced under $300,000 or home priced at less than $300/sq ft to be a distressed sale.  Given these parameters, all but one of the 52 lots that sold last year were distressed, and nearly 70% of the 35 homes that sold last year were distressed properties.             A look at the current inventory shows an inventory level of slightly more than one year for vacant lots, but most still fit within the developer's distressed category (there are 64 lots for sale in Promontory and 50 of them are priced under $300K, ten are actually under $100K).  Current available Single Family Homes in Promontory total 74 including 4 bank REO's and 8 short sales with a total of 19 being offered at less than $300/sq ft. The offerings in the distressed category (less than $300/ sq ft) represent less only 10 months worth of inventory at last year's absorption rate. To put this number in perspective, the absorption rate for Park City as a whole is over 24 months.              So far this year, 8 sales have closed in the Promontory area of Park City and there are 20 sales pending. Current trends show prices within Promontory on the rise and inventory levels falling. The deals are getting harder to find and Buyers need to react quickly.  Current levels of distressed homes in the greater Park City area are down considerably from their peak.              For more Promontory Ranch Club information and assistance finding the Park City home that is a "steal" in your book, contact a realty professional with YouInParkCity.com.

Park City Real Estate's Jordanelle Area

By Todd Anderson
Sep 22, 2010

                  If you are looking for a Park City Condominium with easy access to skiing but in a setting that is a little off the beaten path without the "hustle and bustle" of condos within the Park City limits, you may want to consider the Jordanelle area when searching the web for Park City Real Estate. There are a couple of great options on the south side of the Jordanelle Reservoir that are just a few minutes from Deer Valley Ski Resort's gondola.  Access to the Jordanelle Reservoir is quick as well if you like water skiing, boating, fishing or sailing. Another advantage to the Jordanelle area of Park City real estate is that you are only about 15 minutes from Park City's historic Old Town or Kimball Junction when you decide you want to do a little shopping or enjoy one of the many exceptional restaurants. Heber City and Midway, UT are also just minutes away to the south. The Jordanelle area has the ability to at some point become a viable base area for Deer Valley Resort and a community of its own with restaurant and retail facilities and multiple hotels and housing options. As with most homes or condos in Park City, the south side of the Jordanelle is only about 35 to 40 minutes for Salt Lake International Airport.The Jordanelle Resrvior | Park City Utah Real Estate area

                If you want a condominium, the Fox Bay condominiums may be a great option in the area and are definitely worth considering.  These 1028 square foot two bedroom two bath condos have many amenities including underground parking, a pool, spa, recreation room, fitness room, playground and a fenced basketball court.  The recreation room comes complete with a big screen television, pool table, ping pong table and small kitchen.  The fitness room and play ground are well equipped if you or the kids have any energy left after a day of skiing. Fox Bay has an active HOA working hard to ensure the safety and cleanliness of the area as well as encouraging community activities.

                The price for a Fox Bay condominium currently range from around $210,000 to S244,900.  Fox Bay prices reached a high of $347,000 in 2006 and represent a very good value now.  Be aware that if you see a price significantly below this price range it may be a deed restricted condo. Deed restrictions are base on average household incomes in Wasatch County, UT.

                For photos and property searches of Fox Bay condominiums go to the Fox Bay at Jordanelle page of the YouInParkCity.com website or call (888)968-4672.

What Makes Park City Real Estate Valuable? #3

By Todd Anderson
Jun 04, 2010

             More than just the skiing, it is the community and local amenities that make Park City Real Estate Valuable.

            Ask a local why they live in Park City, UT and many will answer that they came here for a winter and never left. In this ongoing blog chapter we will talk about some of the many things that make Park City, Utah a special place to live and own real estate.

            Today's topic: The Kimball Art Center

Kimball Arts Center | Park City, UT

            The Kimball Art Center is Park City's nonprofit community art center. Located in the heart of Historic Old Town the Kimball is considered by many the hub of the arts in Park City. Most renowned for hosting the Park City Arts Festival, one of the top art festivals in the country the Kimball Art Center also has classes for artists of all ages and abilities. While I take at least one class a year one of my favorite things do is the monthly Friday night gallery stroll which starts and ends at the Kimball and includes a stop at all of the galleries in Old Town. Most galleries provide beverages and light hors d oeuvres. Of course the center also hosts some fantastic exhibitions featuring both local and nationally known artists. Like the Park City Transit System the Kimball Art Center is free to the public.

            While the Kimball has no affiliation with the Park City Real Estate community it is considered by many locals and potential home buyers to be one of the important amenities that make Park City such a great place to live or vacation.

            For a list of events or classes at the Kimball visit their web site at kimballartcenter.org  or visit the YouInParkCity.com events section at youinparkcity.com/events. If you stop by the Kimball and have any questions about Park City Real Estate stop by our office at 693 Main Street located right next door to the lower level entrance to the Kimball and ask for Rob or Todd.

If there is a Park City community amenity that you have questions about, drop the YouInParkCity.com Group an email.

What Makes Park City Real Estate Valuable?

By Todd Anderson
May 27, 2010

            More than just the skiing, it is the community and local amenities that make Park City Real Estate Valuable.

            Ask a local why they live in Park City, UT and many will answer that they came here for a winter and never left. In this ongoing blog chapter we will talk about some of the many things that make Park City, Utah a special place to live and own real estate.

            Today's topic: The Park Record

Park City, Utah Newspaper

            The Park Record is Park City's local newspaper. The paper comes out bi-weekly on Wednesdays and Saturdays. You can receive the paper by mail, or purchase it at many local outlets and distribution boxes for $0.50. It is also available online at http://www.parkrecord.com/.

            The Park Record is a great avenue for learning about what is going on in Park City. When someone walks in the front door here at the Keller Williams office at 693 Main St in Park City asking about what is going on in town, I recommend the Park Record as one of the best resources. It isn't your source for national or world news. The paper is full of articles about local residents, local businesses, local politics and happenings. The paper is a great source for retail and restaurant specials, job openings and long term rentals.

            Park City real estate advertising makes up a good portion of the advertising, but the internet is a much more complete and frequently used portal for searching real estate for sale see YouInParkCity.com 

            If there is a Park City community amenity that you have questions about, drop the YouInParkCity.com Group an email.

 
 
Existing user sign in: 
Forgot Password?