We've Moved!

My website, KarinGage.com has been fully redesigned! As such, we're moving my blog into that site; you can now find it at KarinGage.com/blog. So please, stop by for the latest in Park City and Deer Valley real estate information.

SUMMER IN THE MOUNTAINS

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

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

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

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?

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

The Greatest Snow on Earth

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

Deer Valley Resort at the Sterling chairlift

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

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

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

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

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

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

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

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

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!

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

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

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

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)