Archive for the ‘Park City Neighborhoods’ Category

Deer Valley Real Estate Ski Tour #2

Saturday, February 22nd, 2014

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

Tuesday, December 17th, 2013

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

 

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

 

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

 

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

 

Bellearbor Home in Upper Deer Valley

Trails End 1

Park City Utah’s Hottest Real Estate Neighborhood

Wednesday, July 31st, 2013

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

 

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

 

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

 

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

 

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

 

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

Promontory Golf and Real Estate Review

Saturday, June 8th, 2013

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

 

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

Promontory Real Estate

Views from “The Shed” at Promontory

 

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

 

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

 

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

 

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

 

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

Red Ledges Golf Real Estate & Community Update 2013

Thursday, May 16th, 2013

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

 

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

 

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

 

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

Montage Deer Valley Real Estate

Friday, December 2nd, 2011

 

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

 

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

 

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

 

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

The Montage Deer Valley


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Lower Deer Valley Real Estate 2011

Wednesday, November 16th, 2011

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

 

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

 

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

 

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

 

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


Search Lower Deer Valley Real Estate

 

Promontory ‘Steals’ Getting Harder to Find

Sunday, February 13th, 2011

             A look at sales for 2010 shows that the Promontory Club area of Park City was one of the sales “hot spots”.  87 Homes and Vacant Lots were sold in the Promontory area during 2010. This accounts for over 9% of all the sales in the greater Park City area for the year.

            To date there have been about 800 lot sales in Promontory and there are currently about 300 completed homes with another 25 under construction. The Promontory area was hit hard by the economic downturn, but recent indications show that investors and value shoppers are buying the deals up quickly. The developer is waiting to release new areas and building lots when they feel that prices and inventories warrant new product.

            Promontory executives currently consider any lot priced under $300,000 or home priced at less than $300/sq ft to be a distressed sale.  Given these parameters, all but one of the 52 lots that sold last year were distressed, and nearly 70% of the 35 homes that sold last year were distressed properties.

            A look at the current inventory shows an inventory level of slightly more than one year for vacant lots, but most still fit within the developer’s distressed category (there are 64 lots for sale in Promontory and 50 of them are priced under $300K, ten are actually under $100K).  Current available Single Family Homes in Promontory total 74 including 4 bank REO’s and 8 short sales with a total of 19 being offered at less than $300/sq ft. The offerings in the distressed category (less than $300/ sq ft) represent less only 10 months worth of inventory at last year’s absorption rate. To put this number in perspective, the absorption rate for Park City as a whole is over 24 months.

             So far this year, 8 sales have closed in the Promontory area of Park City and there are 20 sales pending. Current trends show prices within Promontory on the rise and inventory levels falling. The deals are getting harder to find and Buyers need to react quickly.  Current levels of distressed homes in the greater Park City area are down considerably from their peak.

             For more Promontory Ranch Club information and assistance finding the Park City home that is a “steal” in your book, contact a realty professional with YouInParkCity.com.

Park City Real Estate’s Jordanelle Area

Wednesday, September 22nd, 2010

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

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

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

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

What Makes Park City Real Estate Valuable? #3

Friday, June 4th, 2010

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

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

            Today’s topic: The Kimball Art Center

Kimball Arts Center | Park City, UT

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

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

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

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