Deer Valley and Park City, Utah Real Estate

SUMMER IN THE MOUNTAINS

2011-07-07T11:55:00.000-07:00

Park City has so many events going on! The Park City Wine and Food Classic starts today. Free outdoor concerts five days out of the week: bring a blanket and beverage and listen to great music at Deer Valley or the Canyons or Silver Star Café or hike and bike on the Mid Mountain Trail (mostly flat from Deer Valley to the Canyons and beyond).

Come and enjoy the mountains!

Park City Chamber Events Calendar for the month of July

Big Changes to The Bonanza/Kearns Area

2011-05-30T19:59:00.000-07:00

Hi Everyone,

The following is an update on the Bonanza/Kearns-area development, which is in the preliminary stages of approval. Mark Fisher owns this large parcel, triangle-shaped, and has plans to demolish all buildings (including the Maverick station, Blind Dog, Park City Mountain Resort maintenance building and all in between). In their place, plans to build commercial, office and condominiums with open space.

Bonanza Park ideas, a bold set of blueprints, presented to huge crowd

Another interesting tidbit on Park City development/real estate sales: an investor group has purchased a significant amount of real estate in the past month, including the NewPark Hotel developer condominiums ($20M+), Fairway Springs developer condomiums at the Canyons ($14M), Silver Queen Hotel/Main Street ($4.95M), Silver Baron developer condominiums in Deer Valley, Red Stag developer in Deer Valley, the Imperial Hotel and adjacent lots/Main Street and additional Main Street properties, just in the past several weeks. A reflection of the present value and future projections. Excellent time to invest...

Karin

Presenting Park City’s summer happenings

2011-05-17T19:39:00.000-07:00

Park City offers the most entertaining arts and concerts under the stars and mountaintops as well as Big Stars, Bright Nights Music with top musicians and experience the outdoor Utah Symphony. Festivals include the Kimball Arts Festival and Deer Valley Music Festival. Come and Savor the Summit, a unique dining experience with one long continuous table set down the middle of historic Main Street with each restaurant presenting incredible foods. Or Park City Food and Wine Classic, an annual wine festival. Gallery strolls on Main Street every last Friday of the month. The Utah Olympic Park has a summertime version of bobsled riding and aerialist water ramps for visitors to participate in. The streets are lined with visitors from everywhere in the world for the 4th of July Parade and Rodeo...a fun celebration. Flyfishing expeditions on the Provo River, mountain biking and hiking on hundreds of miles of trails with lifts at each resort taking you to the top of the mountain, world renowned restaurants on Main Street...Park City is a beautiful, dynamic mountain town. Our guests come for the winter and stay for the summer!

The following are dates for these summer events:

Savor the Summit June 25th
Big Stars, Bright Nights/Utah Symphony and free concerts June 22nd-August
Kimball Arts Festival August 5th-7th
Park City Food and Wine Classic July 7th -10th
Rodeo and 4th of July June 30th-July 4th

Comparison of Ski Resorts

2011-03-24T13:31:00.000-07:00

Hi Everyone...

Interesting comparison of the different ski resorts in the Rocky Mountain areas…..

The Western Mountain Resort Alliance is composed of boards of REALTORS® of destination ski resorts in the Mountain West. Frequently, buyers for a vacation home in one resort are comparing similar properties in neighboring resorts. From this realization came the idea of sharing sales information from the various resorts as well as pressing issues the resorts are facing. The following are the ski resorts:

Tahoe, CA
Crested Butte, CO
Steamboat Springs, CO
Summit County, CO
Telluride, CO
Vail, CO
Winter Park, CO
McCall, ID
Sun Valley, ID
Big Sky, MT
Park City, UT
Jackson Hole, WY

The 2011 Western Mountain Resort Alliance Comparison

An FYI...Deer Valley Resort last day is April 10th. Park City Mountain Resort and Canyons Resort have extended their closing day to April 17th. Come and spring ski...we are still getting powder!

Karin

Did I Mention the Skiing is Incredible?

2011-03-16T11:33:00.000-07:00

Photo taken last Friday at Deer Valley Resort. The peak is Jupiter, seen from Lady Morgan.

The Greatest Snow on Earth

2011-02-25T09:36:00.000-08:00

Hello All…

“The Greatest Snow on Earth” is the only description for this ski season. Yes, the skiing is still incredible. Powder days have been numerous along with blue sky days. Over Christmas, Sundance and Presidents Week, the busy times, the bookings were up 15% over last year. Sundance saw a huge increase in visitors and participants/sponsors of large corporations in comparison to 2010. The new Montague Hotel and the St. Regis, our newest luxury hotels, were sold out over Christmas.

The Park City/Deer Valley real estate market continues its upward momentum in sales. Prices are still flat compared to last year, in some areas negative, which is good news for buyers. Sales have increased by an average of 30% so much of the inventory is being absorbed. We are seeing more and more investors purchasing foreclosures and well priced properties, indicating the real estate market is way past the bottom. Seeing interest rates starting to creep up is another strong reason investors and 2nd home buyers are purchasing Park City real estate.

Come and ski….the lifts/resorts close early this year on April 10th. Look forward to seeing you on the slopes or stop by at my Silverlake office

Karin

The following is excellent information on Park City……..

PARK CITY HOUSING FACTS

By Park City Board of Realtors

Park City Real Estate Market

The global economy may dip and soar, but life in Park City remains pretty stable. While we can’t claim total immunity from external economic pressures, this localized real estate market is a safe harbor to weather the storm. Why? The fundamental attractions of Park City — world-class recreation, a comfortable year-round climate, convenient access and a strong sense of community — are unwavering. Together, these fundamentals will continue to create growth and stability in our market, long into the future.

Convenient Access

Not only is it a snap to get around in Park City with our free, kid-friendly bus system, but getting here in the first place is also incredibly easy. The Salt Lake City International Airport is only 30 miles away by major freeway, and boasts over 450 scheduled departures per day to over 100 non-stop destinations in the United States, Canada, Mexico and Europe. What’s more, in 2008 the Salt Lake International Airport ranked first in the nation for on-time departures and arrivals and had the fewest number of flight cancellations. Compare this convenient access to that of most other major resorts in the country, which require lengthy drives or costly commuter flights to remote regional airports.

It’s so easy to access Park City that you could catch a morning flight from almost anywhere in the country and be skiing on our slopes by the afternoon. In fact, the Park City Quick Start program allows visitors to convert airline boarding passes for free same-day lift tickets at Deer Valley Resort, Park City Mountain Resort or The Canyons Resort. Check out this site for details:

http://www.parkcityinfo.com/quickstart/

Strong and Competitive Market Values

While Park City’s real estate market does follow the same general trends as most Rocky Mountain resort destinations, this area offers some unique factors that keep our market stronger and steadier than most of our neighbors. The Park City area is earlier in its development cycle, thus offering a better value than many other top tier resorts. In most resort communities, developable land is all but built out, driving prices to nearly impossible heights. While our developable land is becoming scarce, Park City still offers new construction projects.

What’s more, the Park City area offers incredible variety—both in terms of price and product type. The diversity of real estate offerings ranges from multi-million dollar luxury estates to more affordable options. So much variety only serves to keep our real estate values competitive.

A Proven Commitment to Quality of Life

Park City residents are deeply committed to preserving the open space that provides scenic vistas, wildlife habitat, an extensive trail network and rural charm. In fact, we’re so committed, that locals have bonded themselves twice in the city limits and once in the county to the total tune of $40 million, for the sole purpose of purchasing and forever preserving land as open space. Buying into Park City means you’re buying into an area with an increasing supply of protected open space and a decreasing supply of developable land.

Park City’s commitment to quality of life is further echoed in its significant strides in sustainable living practices. Park City Municipal Corporation is leading the charge with bio-diesel public transit, a community carbon footprint counter, wind and solar power exploration and a progressive green building program. Major community businesses are also looking ahead with long-term sustainability measures. All three area ski resorts implement eco-friendly practices and Park City Mountain Resort was recently honored for offsetting 100% of its power consumption with the prestigious Silver Eagle Award for Energy Conservation.

More Options for Skiing
When you choose Park City for a vacation destination or your new home base, you have a lot of choices. Choices for dining, choices for shopping, choices for real estate and…choices for skiing. Right within the Park City community are three of the continent’s top-ranked mountain resorts. In 2008, the readers of SKI magazine ranked Deer Valley Resort #1, Park City Mountain Resort #5 and The Canyons Resort #13 out of over 750 resorts in North America

Add to these choices Park City’s own White Pine Nordic Ski Center, which offers over 20 kilometers of groomed cross-country ski trails. And, within an easy hour’s drive of Park City are seven other major alpine ski and snowboard resorts and four cross-country ski centers

A Year-Round Recreation Haven
Playtime doesn’t stop when the snow melts. All year long, Park City residents can be found hiking, running, horseback riding and biking on our literally hundreds of miles of trails. In fact, our trail network is one of the most comprehensive, non-motorized trail systems in the country, and one of the best examples of collaboration between government, citizens, businesses and non-profits. Learn more at http://www.mountaintrails.org.

The Park City area is home to six golf courses, with more proposed; tennis courts and swimming pools; a complete city park and an indoor field house. Only a few minutes outside of town, the Jordanelle Reservoir beckons for sailing, canoeing and motor boating, and the mountain rivers feeding it offer blue ribbon fly-fishing

A Multi-Faceted Market

The Park City community actually comprises two markets in one. Of course, the area’s myriad resort and recreation offerings make Park City an ideal second home market. From historic district condominiums to slopeside estates, much of Park City’s real estate is owned by second home residents.

However, to a much larger degree than many other resort communities, Park City also has a strong and steady primary home market. This year-round community is populated with a devoted and diverse group of local residents who give the town its colorful and unique character. These local residents comprise an entirely separate real estate market of primary, single-family homes. Because our market has two strong foundations, it is less susceptible to the influences that can weaken less balanced markets

A Dynamic Metro Market
The greater Salt Lake Valley is one of the fastest growing metropolitan areas in the country. This healthy population growth combined with one of the lowest rates of unemployment in the nation combine to create an agile and evolving economy. It is not only possible, but also easy to reside in the dream community of Park City and still be only a half-hour from the dynamic career opportunities of the Salt Lake Valley. You can have it all: a thriving career in a bustling metropolis and an inclusive small town community with numerous recreation options

Increased Visibility Through Advertising

Tourism is big business in Utah and the state government is now leading the charge on this important source of revenue. After decades of extremely limited advertising compared with neighboring states, in the past few years, Utah’s State Government has significantly upped its annual marketing budget from less than $1 million to a whopping $11 million for promoting tourism. This increased spending translates to more visitor traffic and more bookings for nightly rentals. As one of the state’s most important year-round tourist destinations, Park City reaps the benefits of this ongoing and comprehensive advertising campaign.

What’s more, Park City’s three ski areas, the local Chamber of Commerce, Ski Utah and multiple large scale development projects produce their own advertising, creating a huge visibility for this area and keeping Park City on the map

The Olympic Bounce
Of course, Park City was a renowned winter adventure destination well before the 2002 Olympic Winter Games. But, being beamed onto televisions all over the world made Park City a household name. And, it cemented our reputation as the premier, authentic American ski destination. Today, Park City continues to enjoy increased awareness and tourism traffic into our marketplace because of ongoing recognition from the Winter Olympics

An Ideal Climate
While our mountains receive hundreds of inches of dry, powdery snow during the winter months, temperatures in Park City are surprisingly mild. Compared with many other western resort destinations, the winter months here are downright pleasant, especially considering this area is blessed with over 300 days of sunshine every year.

For many Park City locals and visitors, the summertime climate is even more enticing than the winter one. With average summer temperatures in the high 70’s or low 80’s, and low humidity, Park City’s summer months are green and idyllic. In fact, the climate in Park City is enviable year-round, from bright, crisp fall mornings, to warm, lazy spring afternoons. In Park City, the old adage holds true: most locals say they came for the winters, but stayed for the summers.

Compelling Demographics
Half of all second homes in America are owned by Baby Boomers. As the 75 million ‘Boomers reach retirement age, they are looking for more than a savvy investment property. Primarily, this generation is looking to create a place for gathering with family and friends. The men and women of this generation have worked hard their entire lives, have become successful and are now looking to reward themselves with the opportunity to reconnect with their loved ones. Park City, with its convenient access, multiple choices for skiing and recreation, and enjoyable climate is becoming an increasingly popular choice for Baby Boomers to purchase real estate.

Park City is “In”
There’s more to do in Park City than ski, and the world is taking notice. From a new spate of high-end boutiques, diverse art galleries and elegant spas, to a vibrant array of world-class restaurants and a dynamic nightlife scene, Park City is a hipster boomtown. From the globally-renowned Sundance Film Festival in January, to big name musical acts performing in the open air during the summer, Park City is the new place to see and be seen.

A Fundamental Stability
Park City’s real estate market will continue to enjoy growth and stability long into the future, because of the fundamental reasoning behind the above-listed factors. The essential draws of the Park City community will continue to override the emotional, ephemeral factors that are influencing so many aspects of our current economy.

INTERESTING FACTS ON PARK CITY:

*Discovered in 1800

*2^nd largest silver strike in the United States

*2000 miles of tunnels

*In the 1800’s, the east side of Swede Alley was a Chinese settlement(Rossi Hill)(need to find out why they named it Swede Alley!)

*1969 Treasure Mountain ski resort(Park City Mountain Resort)

*Park City has 44% of all skier days in 2010 in Utah

*Expenditures by ski visitors….33% on mountain/67% off mountain

*Edgar Stern, the developer of Deer Valley Ski Resort, had luxury

hotels in New Orleans. Hence, the name Royal St. in Deer Valley

*3.5M visitor nights….55% winter/45% summer

*Visitors…21% from NYC/20% from LA

*76% of $ spent in winter

*The new hotel, Montague in Empire Pass…over Xmas, 35% of their

guests were first time visitors to Park City

SKI SEASON IS ALMOST HERE…..AN UPDATE ON THE DEER VALLEY, PARK CITY MOUNTAIN AND CANYONS RESORTS

2010-10-27T07:25:00.000-07:00

Deer Valley Resort at the Sterling chairlift

A foot of snow has arrived and ski season is a month away. With La Nina weather system projected this winter, it should be an epic snow year! Deer Valley Resort was named #1 in North America again for the 4^th year in a row. The resort has expanded their food and beverage operations. Park City Mountain Resort has new runs as well as an improved, lighted terrain park. The Canyons has placed the gondola near the people mover and improved a lift with heated seats and a plexiglass “bubble” on each chair and new runs. REMEMBER….purchase season passes by Sunday, October 31^st, while preseason rates apply. Attached are the 3 resorts websites for your review.

Experts agree the Park City real estate has hit the proverbial bottom and is much more active. Inventory has decreased and demand has increased. Sales have increased 39% as compared to 2009 year to date. All projections are for a strong market during the ski season. Statistics are as follows:

Sold Sales Volume Ave. Sales Price

2009 764 576,102,507 $754,061

2010 1063 790,640,850 $743,783

Change +39% + 37.2% -1.4%

Call or email with any questions or input. There are some excellent buys still available…..a vacation/2^nd home/investment property for ski season as well as the beautiful Park City mountain summers. Look forward to seeing you….stop at my Silverlake office when you are skiing.

Karin

Ski Park City Utah at Deer Valley Resort

2010-2011 Season Pass Sales at Park City Mountain Resort

Shop for a season pass at The Canyons

Back on Market, $299,900 Beautiful Townhome in Silver Springs

2010-10-18T06:25:00.000-07:00

2 bd, 2 ba
Approx. 1,448 sq ft
End-Row Townhome
Offered at $299,900
MLS #9982217

Virtual Tour

Beautiful wide-planked hardwood floors, built in custom bookcase/study area, unique round table breakfast bar with high end appliances. Open space with lush landscaping, redwood deck w/hot tub, hiking trails and tennis courts compliments this lovely townhome.

Walking distance to school and Park City bus route. Designer furnishings negotiable. A perfect primary home/vacation home or investment property. A must see for an excellent price!

524 ACRE RANCH AS INVESTMENT OPPORTUNITY or FAMILY LEGACY

2010-10-06T14:13:00.000-07:00

Can be developed as six 80 acre ranches, available at less than 25% of 2010 appraised value.

Seller financing available

Breathtaking views and magnificent mountain retreat encompassing an entire naturally preserved Canyon....an exclusive "Sanctuary" for a family legacy or development parcel. A corporate retreat, an equestrian ranch, a hunting lodge.. .a unique property for many uses. 524 acres of heavily forested land, adjacent to 10,000 acres of BLM land, this stunning property is located in the Huntsville/Ogden Valley. Nestled between 3 top ranked ski resorts (Powder Mountain, Snow Basin, Wolf Mountain), facing Pineview Reservoir with 28 miles of shoreline with marina, sailing and fishing. Final planning approval projected for 1 to 6 secluded estates captures the unmatched mountain views in a natural wildlife environment. 9 miles of hiking & horseback riding trails lead you to many stunning promontories. Winter snowmobiling, snow shoe or cross country ski ...an unparalleled paradise. Priced at $2,750,000/$5248 an acre

Park City/Summit County Market Update

2010-09-08T09:43:00.000-07:00

The good news....less inventory, increase in median sales price, (small percentage) stronger sales.

(Click on the image for a larger view)

Park City Market Update

2010-08-11T10:33:00.000-07:00

The following is an excellent profile of our Park City real estate market statistics in graph form. When reviewing, keep in mind the areas covered…the main area is Area 1-9, which encompass Park City and Deer Valle (from the white barn into town) and areas 10-23, which is the outskirts of town. The 1st two graphs show the trend of sales over a 10 year period. The 2nd set of graphs show statistics from January, 2007 to the present.Overall, these show prices have decreased and sales are stronger and increasing. FYI….the Condominium Median Sold Price graph is somewhat misleading, as it jumps up substantially in the fall of 2009. The reason was the St. Regis and Empire Pass new construction was completed and buyers who had purchased preconstruction then closed on the units.

Please call or email with questions or input. Park City real estate is an excellent investment and a 2nd home paradise!

Park City Calendar Of Events & Festivals

2010-06-08T07:48:00.000-07:00

The summer has begun and the snow on the mountain tops is finally melting. Our summers showcase three of the finest golf courses in the intermountain region, mountain bike competitions, outdoor concerts and nationally recognized music and art festivals.

The attached is a calendar of events for Park City, Utah from the Chamber. Take a look and plan on coming to the mountains...so much to do and see. A peaceful and pristine mountain town, with a short, 30 minute drive to the Salt Lake airport for travel,the ease in arriving to this gorgeous resort destination is unsurpassed. Our second home owners find the real estate market continues to be strong,in comparison nationally, and is affordable for investment and/or enjoyment. Come and visit....a great place to enjoy the winter AND summer!

Park City Calender of Events

The Park City Real Estate Market

2010-05-04T08:11:00.000-07:00

Over the past 2 years, we have seen a substantial decrease in prices in the Park City area. It has now hit bottom, as seen in other areas of the country, and the market here has strong activity. The following is an article from the Park City Board of Realtors in regards to sales stats and info on prices, seen in the Park Record newspaper. When sales are 107% in comparison to first quarter, 2009, (yes, we all know 2009 was quite weak), it shows people are buying second homes as well as moving here full time. Of course, the more demand, the less supply and prices will gradually increase in the coming months.

What a great town we live in! The PC ski resorts are now closed (Snowbird is open with 33 inches of new snow) and the "mud season" is here, although several inches of snow fell here last night. With the coming summer season of outside concerts, 4th of July parade, International Jazz Festival and Art Festival, hiking and biking, we are waiting to enjoy the summer Park City lifestyle. Plan on coming to PC to see how the summer is as great as the ski season.

Buyers No Longer Waiting ... Home Sales Continue at Increased Rates
Park City Board of Realtors, First Quarter Statistics, 4/2010

Park City, Utah – April 26, 2010 – Overall real estate sales dollar volume for first quarter 2010 was $303 million, up 107% from first quarter 2009 figures of $147 million, according to the Park City Board of REALTORS®. The number of sales for the first quarter was 325, an increase of 95% from 167 sales in the first quarter of 2009. Sales increased across the board for almost all property types.

"It is good news for area homeowners and homebuyers that the bleak market conditions that we experienced a year ago have now ended" said Mark Seltenrich, President of the Board of REALTORS®. "The primary reason that sales have increased is because many sellers have reduced their prices to the new market conditions, although better general economic conditions and increased consumer confidence have also helped" Seltenrich said. Prices today are on average about 20-30% lower than they were at their peak, which was in late 2007 and early 2008.

"We hit the bottom of our market in terms of the number of sales in February of 2009", Seltenrich said, "and have now had three consecutive quarters of increased sales". "It now appears that we may also be bottoming out in terms of the price declines that we have seen over the past two years" Seltenrich said. „Prices have not yet started to rise, but appear to have stopped falling. Buyer activity is steady, and properties that are priced correctly have a good chance of selling. In addition, low interest rates along with the lower prices are making real estate more affordable than ever" he added.

Sales of Single-Family Homes
Sales of single family homes increased 73% for the first quarter of 2010 compared to the first quarter of 2009. Distribution of sales has shifted slightly from year-end figures for 2009. In 2009 sales of single family homes as a percentage of volume was 56% while condo sales held 39%. For the first quarter 2010, single family home sales were 44% of the market, with condo sales assuming a 51% share. "These numbers are expected to flip-flop by years‟ end with single family home sales regaining their position as the strongest part of the market" Seltenrich said.

Median Price of Single-Family Homes
The median price of single-family homes sold within the Park City limits for the year ending March 31, 2010 was $1,352,500, down 27% from the year ending March 31, 2009, which was the peak of the market. For median sold price information, comparisons are for the one year period of April 1, 2009 through March 31, 2010 compared to April 1, 2008 through March 31, 2009.

Median sales price for a single family home in Snyderville Basin for the year ending March 31, 2010 is $651,750, which is down 6% from the previous year figure of $692,500.

Heber Valley median home price was $305,000 for the year ending March 31, 2010, down 10.5% from $341,000 for the previous year.

Kamas Valley also saw a decrease for the same time frame with a median home price of $275,000 down 26% from the prior year.

Sales of Condominiums
Condominium sales for the first quarter of 2010 increased 118% over the first quarter of 2009.

Median Price of Condominiums
Prices of condos in the Park City limits were up 20% for the year ending March 31, 2010. The median price for a condo inside Park City limits was $925,000. However, Seltenrich was quick to report that prices are not going up but rather this increase was caused by a large number of high end condo sales in the Deer Valley area, causing the median price to rise. In fact, many of these high end sales were at prices 30-40% below where they were priced a year ago.

Median price for a condo in the Snyderville Basin for the year ending March 31, 2010 is $329,450, down 15% from $388,000 for the same period in 2009.

Looking Ahead
Inventory levels have stabilized since fourth quarter 2009, remaining below 3,000 units for the year compared to 3,500 on the market a year ago. However, inventory will remain at about this level for some time due to a sizeable "shadow inventory" of properties that have not yet come on the market. This "shadow inventory" of homes includes delinquent loans and real-estate owned (REO) property that has not yet reached the market. REO properties are foreclosed homes taken back by the bank for liquidation. In addition, in more broad terms this "shadow inventory" also includes non-distressed properties whose owners are waiting for improved market conditions before they will sell.

Seltenrich adds that for sellers, "pricing is still the most important aspect of getting their property sold". Correctly priced properties have a good probability of selling, while properties priced just a little high for the market will most likely sit. As for buyers, Seltenrich warns them "not to wait too long, as many of the best priced properties have already sold and at some point these great prices will be gone". In addition, interest rates are beginning to rise, making any purchase with a loan more expensive.

Park City Market Statistics

2010-02-16T06:00:00.000-08:00

It's another beautiful day here in Park City! I think you'll find the following statistics interesting. Click each graph for a larger view, or click here for a larger version.

Deer Valley Real Estate News Update

2010-02-15T12:33:00.000-08:00

NOW FOR SALE
THE MONTAGE DEER VALLEY HOTEL
OF EMPIRE PASS

The construction you have seen when skiing Empire and Lady Morgan is the Montage Hotel, with 1 to 4 bedroom residences now available. Fifteen residences are being released for sale. In previewing this under construction condominium hotel, all projections are for stunning, high end residences. The resort will offer 84 private residences for ownership, with ski concierge and a dedicated concierge staff, a 35,000 square foot resort spa and pool, après ski terrace, numerous restaurants….an incredible mountain lodge. And added are the Talisker Club amenities!

The private owners' lounge will be home to the residential concierge staff for travel and transportation arrangements, valet parking, luggage and sports equipment shipping and unpacking, grocery stocking, reservations, catering, business services, and childcare.

The privileges of early ownership:

1.The residences are priced from $2,040,000 to $7,860,000 with a 20% discount on those prices

2. First come, first choice

3.Private, FIRST TRACKS guided skiing at Deer Valley Resort

4.Two years of Deer Valley Resort season Passes

5. All expense-paid stay at Montage in Beverly Hills or Laguna Beach

The newest luxury condominiums in Empire Pass! The Montage adds to the renowned luxury properties now open…the St. Regis (Deer Valley) and the Waldorf-Astoria (The Canyons).

Silver Strike Lodge Auction Update

All 8 auction condominiums sold at the Auction with an additional 6 sold in the following weeks. The prices were approx. 50% less than the original asking price. There are 5 developer condominiums presently on the market.

Flagstaff

Six Flagstaff condominiums are now under contract just in the past few weeks...the momentum of the Silver Strike Lodge auction national marketing. A stunning design of floor plans, high end finishes and well appointed amenity areas, Flagstaff is definitely one to preview. Go to their website, www.flagstaffempirepass.com to review these beautiful condominiums. The developer is discounting the prices from 30% or more for the first to purchase in the coming week. Competing with Silver Strike.

For the latest on these exciting developments in the heart of beautiful Deer Valley, please don't hesitate to contact me!

Incredible Price Reduction!

2010-01-14T07:29:00.000-08:00

PARK CITY REAL ESTATE NEWS….REDUCED OVER $2,000,000 TO

$5,250,000

Sanctuary Ranch

MAGNIFICENT 524 ACRES NEAR SNOWBASIN AND POWDER MOUNTAIN

This truly is the deal of a lifetime. Please click the link above to learn more about this spectacular Utah ranch.

2010 Sundance Film Festival

2010-01-14T06:51:00.000-08:00

JANUARY 21st – 31st

Whether you will be flying across the country or a Park City local, the Sundance Film Festival is getting ready for your presence. Every year the festival selects 200 films from more than 9,000 submissions. More than 50,000 people attend screenings in Park City, Salt Lake City, Sundance and Ogden. The festival is the premier showcase for new work from American and international independent film makers. The festival comprises competitive sections for American and international dramatic and documentary films, both feature-length films and short films. The Festival has changed over the decades from a low-profile venue for small-budget, independent creators from outside the Hollywood system to a media extravaganza for Hollywood celebrity actors, paparazzi, and luxury lounges. Experience live music, panel discussions with leading filmmakers and filmmaking’s newest talent.

Tickets

OPEN TICKET SALES JAN. 18-31st

Didn’t make it in time to register for individual tickets? No problem. Simply come to one of our Main Box Offices or purchase online directly.

WAITLIST TICKET SALES JAN. 21-31st

To Waitlist, arrive at the theatre of your screening choice 2 hours before the scheduled time.

DAY OF SHOW TICKETS JAN. 22-31st

Come in to the Park City Main Box Office at the Gateway Center to get tickets to previously unavailable screenings. Each morning at 8:00 am a limited number of tickets to that days screenings are released

Come and check out movie stars and the locals…both are fun to watch!!

Deer Valley/Empire Pass Condominium Auction

2010-01-01T08:58:00.000-08:00

Silver Strike Lodge at Empire Pass in Deer Valley announced it would be auctioning eight ski in/ski out condos at bids starting at $1.15M, almost 50% less than the previous prices. Located at the top of Deer Valley Resort, these two, three and four bedroom condominiums have different floor plans and sizes. Each luxury condo has incredible views, concierge service, direct access to Silver Strike lift on Deer Valley Resort, private ski lockers and owners lounge and high end finishes. Also included is a full Talisker Club membership, with access to private restaurants on the slope, golf, pools, spas……

The auction will be held on January 17, 2010 at Stein Erickson Lodge. Representation by a realtor is encouraged by the developers. Please contact me if you are interested in this tremendous offer. Preregistration is required, so I am happy to register you, or if you prefer, you may fill out this form or the Broker Referral form at the following website, www.auctionsilverstrike.com, filling in “Karin Gage/Summit Sothebys Realty." Let me know and I will keep you updated with ongoing information and send you the Empire Pass market activity of on the market and sold comparisons.

If you have interest in this incredible deal on luxury real estate in Empire Pass, Deer Valley, I look forward to working with you.

Karin

Market Update

2009-12-19T08:27:00.000-08:00

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

2009-12-10T12:12:00.000-08:00

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!

2009-12-09T20:55:00.000-08:00

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

2009-12-09T20:47:00.000-08:00

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!

2009-12-03T12:22:00.000-08:00

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

2009-11-28T18:43:00.000-08:00

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

2009-11-28T18:41:00.000-08:00

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

2009-11-01T14:39:00.000-08:00

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

2009-11-01T14:12:00.000-08:00

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

2009-11-01T13:55:00.000-08:00

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