Market Update

Good morning! It is a cold, clear day here in Park City, and we're expecting more snow tonight. Some interesting market activity these past two weeks:

Market Activity in Deer Valley	Dec. 7	Dec. 13
New Listings	0	0
Price Reductions	0	1
Ave. Listing Price	$822,450	$822,450
Market Activity in Park City	Dec. 7	Dec. 13
New Listings	97	105
Price Reductions	18	27
Ave. Listing Price	$1,556,072	$1,576,183

(Courtesy of Trulia.com)

Deer Valley/Empire Pass Auction--Silver Strike Lodge

Big news in Park City real estate today: I received notice that eight condominiums at Silver Strike Lodge in Empire Pass are going to be auctioned off at steeply discounted prices. The auction will take place Sunday, January 17th and pre-registration is required. Please contact me to get registered for the auction and for additional details. Don't let this spectacular opportunity slip away!

Eight homes priced over a million dollars at Ironwood Resort Development's Silver Strike Lodge at Empire Pass, a ski-in/ski-out condominium in the heart of Deer Valley Ski Resort, North America's #1 ranked ski resort, will be auctioned off in January. Minimum bids will start at $1.150 million, up to 55 percent off last asking prices, which were as high as $3.295 million.

The real estate event will take place on Sunday, Jan. 17 at 5 p.m., at the Stein Eriksen Lodge in Park City, just a few days before the start of the 2010 annual Sundance Film Festival.

"When we first launched Silver Strike Lodge at Empire Pass in 2006, we sold nearly half of the building at the grand opening," said Matt Mullin, principal of Ironwood Resort Development, the developer. "Our company has always started a project by listening to our clients' needs and by building what they want and not by what we think they want. While we may be in a different market than when the project was unveiled, this same philosophy will still drive our decisions. With this auction, we will be accepting what our buyers determine homes at Silver Strike Lodge at Empire Pass are worth in today's market."

Advanced registration for the event is required (see below for registration information) and model residences will be open daily from 10am to 6pm through Jan. 16.

Residents of Silver Strike Lodge at Empire Pass enjoy a host of fine amenities, including a two-story lobby with fireplace and hearth seating; owner's lounge with fireplace and serving bar; fitness room; ski locker room; sport storage lockers; heated, outdoor plaza with spa pools and warming fire pit; and a full-time concierge, lodge manager and complimentary car service.

For all winning bids, the developer will also cover a $100,000 membership activation fee to the exclusive Talisker Club, designed by Robert A.M. Stern and named Robb Report's#1 "Best of the Best: Mountain Resort Community" and ranked #8 on Travel + Leisure Golf's "America's Top 100 Golf Communities" list. Membership provides access to world-class skiing, golf and all other outdoor activities on the club's +10,000-acre property. Members also gain access to the club's mountain restaurant and clubhouses, with elegant dining lodge, spa and fitness services.

To all who wish to register for the auction….contact me at KarinGage@Gmail.com or call 435-901-0049. I will send you the additional information and registration package. There are 15 presently sold and 19 developer units, with 8 to be sold at auction. The auction condominiums will start at $650 a square foot, approximately half the price of a Silver Strike condominium.

Ski Season Begins at Deer Valley Resort!

What a start of the ski season! Deer Valley opened on December 5th with the annual Paul Mitchell Celebrity Classic race. It was cold …however, the snow was fantastic. The following is info on Deer Valley real estate and the stats of the mountain. Come and ski! Stop by my Silverlake office, across from the ticket booth and by the "beach."


In light of the fabulous skiing this opening weekend, I wanted to take a minute and share with you some of the facts behind Deer Valley Ski Resort being voted the #1 reader favorite among all the North American resorts year after year in the SKI Magazine reader survey.

Deer Valley Ski Resort Facts:

Total Skiable Acreage 2,026 acres/820 h
Vertical drop 3,000'/914 m
Empire Summit 9,570'/2,917 m
Bald Mountain Summit 9,400'/2,865 m
Flagstaff Mountain summit 9,100'/2,774 m
Bald Eagle Mountain summit 8,400'/2,560 m
Lady Morgan summit 9,000'/2,473 m
Little Baldy summit 7,950'/2,423 m
Base elevation 6,570'/2,003 m
High-speed four-passenger gondola 1
High-speed quad chairlifts 11
Fixed-grip quad chairlifts 2
Triple chairlifts 5
Double chairlifts 2
Number of runs 100
Number of bowls 6
Tricks 'n' Turns Park 1
Snowmaking over 560 acres
Glade skiing 930 acres/376 h
Longest run 2.8 miles/4.5 km

The Deer Valley area is home to some of the most luxurious real estate in the west. Aside from the tremendous convenience of being steps away from the finest ski resort in North America, homes and condos in Deer Valley have proven to be an excellent investment. Please contact me for more information on the best deals right now in Park City and Deer Valley real estate.

Deer Valley Real Estate Information

There are many real estate opportunities around the Deer Valley Ski Resort. Here is a brief summary of some of the newest developments. Remember, new developments are not always going to have every new home or condo available to search on the MLS. For the latest on pricing and availability on these new developments, and for my recommendations on the best Park City and Deer Valley real estate for your needs, don't hesitate to contact me.

The Chateaux Residences

The Chateaux at Silver Lake is located in Silver Lake Village at mid-mountain Deer Valley Resort. The Chateaux is an elegant full-service condominium resort with lobby, restaurant, shops, pool, spa and conference and convention facilities. Phases I and II of the Chateaux units are whole-ownership condominiums. Phase III contains 19 three and four bedroom units offered as a private equity residence club.

The Silver Baron Lodge At Deer Valley

Phase II of the Silver Baron Lodge consists of two-, three- and four-bedroom units contained within the original project boundaries of The Lodges at Deer Valley, a residential condominium development located at 2900 Deer Valley Drive. 109 residential units in five lodges have previously been developed in The Lodges.

The St. Regis Resort and Residences, Deer Crest

Owned by Deer Crest Associates I, LLC and managed by Starwood's St. Regis brand, The St. Regis Resort and Residences, Deer Crest, began construction in summer, 2005, and is projected to open October 2009. The slopeside resort is located on two sites connected by a funicular. The funicular base will be adjacent to Deer Valley's Snow Park Lodge and the main hotel and residences will be uphill in Roosevelt Gap on the Deer Hollow ski run. The Resort and Residences offers 26 private residences and 65 condominium suites. The St. Regis, Deer Crest, will contain amenities including a martini bar, an après ski bar, two pools, gift shop, fitness facility, main restaurant, meeting rooms and a 30,000-square-foot spa.

Talisker Club

Talisker Club combines the best of home ownership and the amenities of a private club, offering unrivaled access to world-class skiing, golf, and every imaginable outdoor activity in a pristine wilderness environment. Whether it’s the golf community at Tuhaye, a quiet, secure, exclusive oasis dedicated to the finer things in life, the ski-in and ski-out community at Empire Pass, a skier’s dream come true weaving around the slopes of Deer Valley Resort, or the ski-in and ski-out homes at Red Cloud perched on top of Flagstaff Mountain at Deer Valley Resort, with views so compelling they lift your spirit like the fresh mountain air. Simply by virtue of owning a home or homesite in one of our many distinctive communities that comprise Talisker Club, you're welcomed into a five-star world of club amenities, activities, services and gatherings. Nestled on Talisker’s 10,000 acres of unspoiled land in the Wasatch Mountains, it is the perfect place for families to enjoy active lifestyles and luxurious homes.

Ironwood Resort Development

Having completed Ironwood at Empire Pass in 2005 and the adjacent Grand Lodge at Empire Pass at the base of Deer Valley's Northside Express ski lift on Flagstaff Mountain in 2007, developers Jack Kosen and Matt Mullin developed Silver Strike at Empire Pass. Silver Strike consists of 33 ski-in and ski-out condominiums located at the base of the Silver Strike Express lift in the Village at Empire Pass.

The Village at Empire Pass

The Village at Empire Pass includes a combination of ski-in, ski-out homes, townhomes and condominium residences being developed by East West Partners and Crow Holdings adjacent to Deer Valley's Silver Strike Express chairlift. Communities include Paintbrush (homes), Larkspur (townhomes), Shooting Star (condominiums), Arrowleaf (condominiums) and Flagstaff (condominiums).

Nakoma

Nakoma consists of 18 individual ski-in and ski-out homes adjacent to the base of Deer Valley's Northside Express ski lift, designed by Jack Thomas & Associates.

Christopher Homes

Eighteen ski-in, ski-out mountain estates in Empire Pass at the base of Deer Valley's Flagstaff Mountain.

Red Cloud

Red Cloud consists of 30 ski-in, ski-out homesites located at the top of Deer Valley's Flagstaff Mountain.

Bannerwood

Bannerwood consists of 6 ski-in, ski-out homesites at the base of Deer Valley's Flagstaff Mountain.

Time is Running Out for Locals to Register for Sundance Tickets!

We're coming up on the Sundance Film Festival again! Sundance is an independent film festival that visits our town yearly and showcases new work for independant filmmakers. It's a very exciting time for Park City, as all the hotel rooms and restaurants book up for the filmmakers, production crews, publicists, press, stars, and indie film afficionados.

Utah locals’ advance tickets registration ends Friday, Dec. 4th. Utah residents need to register for a timeslot to purchase tickets. Yes, it has come to that...although this is better than standing in line in the cold. Timeslots will be randomly assigned for Jan. 9-10 and are not first-come, first served. Timeslot holders will be notified on Dec. 9th and will be required to purchase tickets in person during their assigned half hour timeslot at either the Park City or Salt Lake City main box offices.

To get started, visit the Sundance Film Festival's website. See what is coming to our town in January...the movies have been selected!

St. Regis and Montage: Two Exciting Developments in Deer Valley, Utah

St. Regis Deer Crest Resort

Projected for completion in October/Opening Day November 5th, 2009

In the private, gated community of Deer Crest, Utah, The St. Regis Deer Crest Resort stands upon the aspen-covered slopes of the Wasatch Mountains. The resort is a short distance from historic Park City, home of the Sundance Film Festival.

Sport and Adventure

Boasting a ski lounge, ski valet service and a ski "beach", pursue a true sense of adventure. Then, relax and indulge in the split-level heated infinity swimming pool, 13,000-square foot spa or with signature service from a bespoke St. Regis Butler.

A Residential Experience

Situated on two pieces of land, The St. Regis Deer Crest Resort is connected by a dual-car rail tram to a lower lodge. The hotel will include slope-side private residences, condominium suites, and a total of 181 custom-designed rooms.


Montage in Deer Valley Opening December 2010

Your Montage home is situated in Empire Canyon near the top of the Deer Valley Resort, adjacent to a variety of trails and ski experiences. This includes more than 200 acres of groomed runs and gladed terrain, and nine trails, reached by a high-speed quad chairlift, the Lady Morgan Express, named for a nearby lake that was enjoyed by area miners in the 1890s.

A lobby great room with a large fireplace will be the inviting central gathering spot at our Deer Valley hotel. Just beyond will be an outdoor pool and whirlpool spas and an outdoor après-ski terrace with firepit.

Dining options will include an all-day dining restaurant, a more casual restaurant and sports bar, and a deli-style counter for creative to-go items to speed you to the slopes. Outdoor dining and beverages on the après-ski terrace and 24-hour in-room dining will also be offered. Innovative culinary demonstrations and wine seminars will take place throughout the year.

Each of the 126 spacious guestrooms and 47 suites at our hotel in Deer Valley will feature a gas fireplace, mountain or valley views, private balcony or patio, estate-quality furnishings and luxurious bathrooms.

The 35,000-square-foot resort spa will include club-style relaxation and locker areas for men and women with steam shower and sauna, an indoor lap pool and an extensive array of signature holistic therapies. The world-class facility will also feature a fitness center, spa boutique, juice bar and full-service salon.

A gracious ballroom, junior ballroom, several boardrooms and event terraces and lawns will accommodate meetings and events, executive conferences and seasonal weddings in high style.

Montage Deer Valley is scheduled to open in December, 2010.

For more information on Park City and Deer Valley real estate, including price and availability of these exciting new developments, please don't hesitate to contact me.

Park City Housing Market is Stable

HOMES AND CONDOS SOLD IN JULY, 2009: 96
HOMES AND CONDOS SOLD IN JULY, 2008: 83


The end of the summer in Park City/Deer Valley…. with a great outlook for ski season. As the Wall St. Journal stated in August 22nd edition, “Sales of existing homes in July jumped at the fastest rate in 10 years… the housing market is stabilizing."

As to the Park City real estate market, we are seeing the average listing price go from $1.51M to$1.56M in the past month and the number of listings staying basically the same. (See Trulia.com for Park City stats) And out approx. 2100 properties presently on the market, only 64 are in the foreclosure stage.

The Park City real estate market continues to be much more stable than many markets in the country. For the past 4 months, investors have been purchasing excellent buys here. Now we know it is going up… when so many investors start buying properties, it is at the bottom of the market.

For more information about Park City or Deer Valley real estate, including the latest on price and availability on new developments, please feel free to contact me.

The Canyons Ski Resort Area Real Estate

The Canyons has established itself as the fifth largest U.S. ski resort and features more intermediate and expert terrain than any other Utah resort. The Canyons offers a dynamic year-round pedestrian village featuring the Grand Summit Hotel and Sundial Lodge.

Housing in this area ranges from affordable Willow Draw Cottages to the full time residential areas of Cedar Draw and Mahogany Hills and to the luxury residential area of White Pine Canyon.

The Colony at White Pine Canyon is home to some of the largest ski-in/ski-out homesites in the nation. The Colony incorporates approximately 260 homesites spread over 4,400 acres. Luxury single family residences in this gated community set a new luxury standard in Western resort living.

The Canyons Resort Area Properties For Sale

Deer Valley Real Estate

Since its opening in 1980, the Deer Valley Resort has consistently earned the top awards for its trail grooming, on-mountain dining, guest service and a mixture of high-end real estate unsurpassed in the resort world. It has been named the #1 ski resort in North America in 2007 and 2008 by Ski Magazine. It is one of four only ski resorts in North America and therefore has become a favorite for many skiers throughout the years.

Deer Valley Resort offers amazing amenities such as free parking lot shuttles, ski valets, gourmet on-mountain cuisine, uncrowded and immaculately groomed ski slopes, a friendly staff, ski lessons, rentals and child care and complimentary ski storage.

Best know as a winter resort and a prime venue for the 2002 Winter Olympics, Deer Valley is in reality a dynamic year-round community. Summer activities such as symphony concerts, lift-assisted mountain biking, fine dining and shopping make summer a favorite time for owners.

The Deer Valley area is a great place to own a second home ski property. Subdivisions within the resort are grouped based on their location - Upper and Lower Deer Valley. Upper Deer Valley is the area situated in the mid-mountain region of the resort with close proximity to the Silver Lake Lodge. Lower Deer Valley is the area surrounding the base of the ski resort offering close proximity to the Snow Park Lodge and Park City's Main Street.

Whether it's the best in hotel experience at Stein Eriksen Lodge, Goldener Hirsh, The Chateaux at Silver Lake, The Lodges, or individual luxury townhomes, visitors and second home owners find product and values that surpass anything available in Western ski resorts. Not content to rest on its many laurels, Deer Valley continues to improve with the rapid growth of Empire Pass, a community of single family homes and luxury condominiums located in Upper Deer Valley and prominently situated near the ski runs.

Single family homes in Bald Eagle, Evergreen, American Flag and The Oaks are among the most beautiful found anywhere. Developments including Grand Lodge, Larkspur, Paintbrush, Arrowleaf, Silver Strike, Ironwood and Nakoma have set new luxury standards in Deer Valley. Future projects including Flagstaff, St. Regis and The Montage Hotel will add to the world class reputation which Deer Valley has earned.

Deer Valley Area Real Estate For Sale

Park City Mountain Resort Area Real Estate

With 3,300 acres of glades, bowls, groomers and powder snow and a 3,100 foot vertical drop, the Park City Mountain Resort is the heart of the Park City Resort area. Connected to Old Town by the Town Lift, the resort is surrounded by a mixture of historic homes, condominiums, townhomes and luxury single family residences.

The Thaynes Canyon subdivision surrounds the Park City Municipal Golf Course, while Aspen Springs and Iron Canyon are popular residential areas featuring private wooded lots. One hundred and twenty acres of open space surrounding the historic McPolin Barn provide year-round open space and cross country skiing at the 18km White Pine Touring Center groomed trail. This prime residential area is close to shopping and schools.

Park City Resort Area Properties For Sale