What Makes Park City Real Estate Valuable? Park City Miner’s Day Celebration

            The upcoming Labor Day weekend traditionally marks the end of summer, and here in Park City, Utah we celebrate it a bit differently. Park City, UT was founded as a mining town rich in silver. The boom here continued until the government went away from the idea of backing the US Dollar with silver; and the relative collapse of silver prices. This made way for the “silver that is mined today” represented by tourism and outdoor activities: skiing, snowboarding, golfing, hiking, biking, fishing, etc. But more than these activities, it is the funky nature of the town and community that make people want to own a vacation home or live here permanently. Things like the upcoming Miner’s Day celebration add value and lifestyle differences to our town.

            Miner’s Day in Park City is a full day of celebrations:

• The day starts with a pancake breakfast in City Park at 7:00 am (presented by St Mary’s Catholic Church)
• The Funky 5K Fun Run starts at 8:30 – perfect to work off those pancakes (sponsored by Arts-Kids go http://www.arts-kids.org/events-funky-5k.html to register)
• 10:45 Features the “running of the balls” down Main St. a fund raiser for Park City Rotary Club (think of a “rubber duckie” race done with tennis balls down Main St.)
• At 11:00 am the parade starts down Park City’s Historic Main St.
• Music in the park will run from 11:45 am – 5:00 pm at the City Park Stage
• Noon-3:00 pm keeps you in City Park with a BBQ Lunch (sponsored by DW Healthcare Partners)
• Kid’s races take off from City Park Stage from 12:30-1:00 pm
• From 2-2:45 is the annual Mucking & Drilling Competition – this really puts the life of a miner in Park City into perspective; skiing is so much easier

            Miner’s Day in Park City, Utah is one of those yearly (this is the 113^th annual celebration) events that is great to attend. You are bound to see friends you haven’t seen in a while, and no doubt you will have a great time.

            Events like the Miner’s Day Celebration are what makes Park City a special place to live and part of the lifestyle that adds value to real estate in Park City.

            For information about how to make the Park City lifestyle yours by purchasing real estate in Park City, contact a realty professional with YouInParkCity.com.

                We have talked for years about what is or is not a best buy and at $16,000,000 this one of a kind home named Deerfield Estate, in the Deer Crest area of Deer Valley, Utah without a doubt, qualifies. 

                Every week we look at homes in the Park City Real Estate and Deer Valley markets. Very rarely are we awed by a condominium or home.  In the Deer Crest area of Deer Valley there are many very well done homes, the “Ski Dream Home” and others come to mind but this estate home on 4 acres is a notch above. In looking for adjectives I landed on elegant, sophisticated and comfortable. While most of the Deer Crest homes and lots are ski in ski out very few provide direct skier access to Deer Valley’s Snow Park Lodge.  At the end of the ski day there is a private gondola to take you home.

                The home’s statement of detail and quality starts when you enter the private gate to Deerfield Estate and continue up the drive to a grand vaulted portico from which hangs a custom iron lantern.  The entrance to the home is two massive hand carved oak doors with antique bronze hardware that originally graced a Chicago mansion.

                Deerfield Estate has all of the amenities one would expect in a luxury Deer Valley home but the finishes are in a class  of their own;  hand hewn posts, beams and trusses, hand painted tiles, custom bronze sconces and lighting fixtures and much more. To my chagrin many of the items needed to be explained to me by Bruce Martin, owner of Bruce Martin Interiors of Sun Valley, Idaho.  http://www.brucemartininteriors.com/index.html

                Created as one of the crown jewels of the Achristavest group, its team of designers and craftsmen took full advantage of this site’s breathtaking ski area and Jordanelle Reservoir views. There is even a intimate sitting area above the gondola from which the view is truly 360 degrees.  This luxurious home gives you the feeling of being in the heart of the Deer Valley Resort and yet in a world of your own

                Deerfield Estate is conveniently located ½ mile from the St. Regis, 1 mile from the Deer Crest gate and only 2 miles from the base of the Deer Valley Ski Resort’s Snow Park Lodge.  Through the back entrance to Deer Crest it is only about 20 minutes to the private airfield in Heber.  So if you are looking for the privacy with convenience, sophisticated elegance, and want that one of a kind ski mountain estate in Park City, UT; this home might be right for you.

                Originally priced at $28,975,000 and reduced to $15,875,000 for auction this estate quality home easily qualifies for the YouInParkCity.com Best Buys list.

                For more information on Deerfield Estate or to register for the upcoming auction, contact Rob Harris or Todd Anderson at the YouInParkCity.com group (888)968-4672.

 Sealed Bid Auction with Published Reserves for 11 Luxury Park City Residences

            Another Park City Real Estate auction is set for August 27,2010. This marks the fourth or fifth such auction for the calendar year. This one may prove to be a bit different from the others.

            This auction is different in that it is confined to a small number of luxury Park City, UT area properties and that all of them have set a published reserve price. Reserve prices in most cases are millions less than the highest asking prices these homes have seen in the past. The properties for sale in this auction represent some of Park City’s truly exclusive addresses. These luxury homes are in Upper Deer Valley, Deer Crest, Old Town, The Colony, Tuhaye and Promontory. Unlike some of the other auctions we have seen, these properties are not developer owned, or bank distressed sales. These owners have grouped together to share marketing costs to try and create a buzz. Published reserve prices range from $1.5M to just under $16M.

            The auction is being publicized nationwide through print ads in the Wall St Journal, NY Times, Chicago tribune and the like in most major metropolitan areas that represent the homes or workplaces of many Park City and Deer Valley second homeowners.

            The Sellers will sell the property if an offer comes in above the published reserve price. The auction is a sealed bid auction rather than a live auction. Sellers will open all bids, if there is more than one bid above the reserve price, potential buyers will be notified that they are in a multiple offer situation and will be asked to bring their “highest and best offer”.

            As was the case for some of the previous auctions in Park City, the results of this auction may help to reset pricing in the luxury homes sector of the Park City real estate marketplace.

            For more information about the homes to be auctioned, pricing and placing a bid for a home, contact a real estate professional with the YouInParkCity.com Group. 1(888)968-4672.

 What Makes Park City Real Estate Valuable? The Kimball Arts Festival

            I as I was driving into work today with my wife, she mentioned that it was the Arts Festival that brought her to Park City. Ask a local why they live in Park City, UT and many will answer that they came here for a winter and never left. In my wife’s case, it was pictures from the Arts Festival that was the draw that put things over the top.

The annual Kimball Arts Festival is one of the many things beyond the skiing, biking, golf, snowboarding, hiking or … that make Park City, Utah special. It is a vibrant piece of the local Park City community (residents and vacationers alike actively volunteer to help with the festival).  Local amenities like the Arts Festival make Park City Real Estate Valuable by adding to the Park City Lifestyle.

            This year marks the 41^st annual Kimball Arts Festival. The festival runs Friday August 6^th (6pm-8pm) Through Sunday August 8^th (Sat 9 am-7 pm, Sun 9 am-6pm). Note that the Friday evening opening is a special “local” event that is free (suggested $10 donation goes to the Kimball Arts Center) and the least crowded time of the festival.

            The Kimball Arts Festival in Park City, UT is touted as one of the top ten arts festivals in the country (don’t ask me who said this). Each year they receive more than 1000 applicants for only 325 spaces. Tents line the middle of Main St as the area is closed to traffic for the weekend to make way for the anticipated 45,000 attendees. Only the Sundance Film Festival and Fourth of July Parades in Park City put so much pressure on Historic Main St. Things will be crowded, but that is part of the lure. It is impossible to walk through without running into friends you haven’t seen in a while.

            Music has been a recent addition to the Arts Festival with 3 different stages running throughout the festival. A free film screening by the Sundance Institute will be held on Friday night at Park City’s City Park. Local restaurants have also gotten into the spirit with the “Taste of Art” offering festival goers special pricing and limited time menu offerings.

            Real Estate for parking in Park City is at a premium during the Kimball Arts Festival. Follow the signs and directions of the volunteers. Plan on parking away from the festival and walking in or hopping on a free shuttle.

            For more festival information go to: http://www.kimballartcenter.org/

            Have a great time, and when you find yourself thinking “If I owned a home in Old Town I could just walk over to events like this on Main St.” contact your YouInParkCity.com Group Keller Williams Real Estate Professional to make it possible. (888)968-4672