Local Area And Real Estate News

Deer Valley ranked #6 in Best Places for Second Homes

By Todd Anderson
Mar 12, 2011

            The March 5th, 2010 edition of Barron's PENTA ranked Deer Valley, UT as #6 among the top 15 places to own a second home. PENTA is a standalone quarterly pullout section of Barron's which focuses on individuals with $5M or more to invest.             In considering the rankings Barron's focused "In seeking out and ranking these havens, we looked for beauty, comfort, convenience, a range of lifestyles and -- always the paramount criterion at Barron's -- value. We wanted prices that had clearly hit bottom and were either rising or ready to rise."  The article also notes that "home prices in moneyed enclaves climbed more than 10% last year".             The accolades are great; Deer Valley deserves to be named one of the best places in the country to own a second (or first) home. Deer Valley without a doubt ranks among the top spots in the world for the criteria of beauty, comfort, convenience and range of lifestyle opportunities. The Barron's article notes that the proximity of Park City to Salt Lake International Airport gives the area an advantage over other rocky mountain ski destinations. Reasons why Deer Valley and Park City, UT in general are worthy of these accolades are too numerous to list.             The Barron's PENTA article goes on to name and include a photo of a home in Tuhaye as the place to be in Deer Valley. The article notes that sales in 2009 in Tuhaye were 0 while the median price for 2010 was $1.3M (there were 9 single family home sales shown across the Park City MLS for the area in 2010).  Worth noting within this is the fact that nearly all of the sales were bank REO or distressed sales (something that wasn't mentioned in the article). These sales may represent the new market values for the area and very well may mark the bottom of the market in which case the value proposition for Tuhaye is very strong. Tuhaye has great views of Deer Valley though it is not necessarily part of what locals and Park City real estate professionals recognize as Deer Valley.             This is not the first time that Park City and Deer Valley have been recognized as one of the world's best places to own a vacation home; the fact that this trend continues points to the fact that what makes this are desirable has not changed.             Call the YouInParkCity.com Group of Keller Williams Park City Real Estate to discuss the current opportunities for home ownership in one of the best places to own a (first or) second home Deer Valley, Utah (888)968-4672.

Recognizing Park City, UT Strengths

By Todd Anderson
Oct 12, 2008

          Amidst all of the recent horrible national housing and economy news Park City, UT has received some great accolades. In addition to the release of The SKI Magazine readers' poll recognizing Deer Valley as the top ski resort in North America (see our www.YouInParkCity.com blog post from September 24), Park City has been mentioned by Forbes Traveler and featured in a USA Today article this past week.           In the ForbesTraveler.com article which falls under their "Inspirations" section, travel writer Sarah Tuff Dunn in naming Park City, Utah as one of the 20 prettiest towns in America says:

"I was struck by just how blue the sky was, and how dry the air, during a ski trip one March. I was used to soggy or icy conditions back East. After I skied seemingly bottomless powder at nearby Deer Valley, the whole town of Park City (which looked like a candy village, thanks to all the different colors of the Victorian buildings) seemed like it was on some crazy high from the sun, the snow and the altitude."

Photographer Krist (who also contributed to the list) sums up the intangible quality shared by the pretty towns on his list: "They haven't been homogenized, they still have their local character-and the charm is real."Park City Barn Winter

        See http://www.forbestraveler.com/best-lists/americas-prettiest-towns-story.html for the rest of the list.           While Forbes was recognizing the beauty of Park City, UT, the USA Today was touting how easy it is to get here. Beauty can be very subjective, but location isn't. Larry Olmstead, travel writer for the USA Today, notes in the Friday Oct 10, 2008 article titled: Second homes: Park City is just a hop, skip and a ski slope away:

With ski towns, getting there is rarely half the fun. Many, like Aspen and Telluride, are hours from a major airport. Moreover, small mountain-town airports operate at the whims of nature.

But the ski resorts surrounding Salt Lake City are the most accessible in North America, a city-bus ride away from a major hub airport that rarely closes. Three of the biggest Utah resorts can be found in one place: historic Park City.

        The article goes on to describe real estate opportunities in and around Park City's three resorts - The Canyons, Deer Valley, and Park City Mountain Resort - see (http://www.usatoday.com/travel/destinations/secondhomes/2008-10-09-park-city-utah_N.htm?csp=34 ).           What stands out most is the age old real estate mantra: location, location, location. While Park City is experiencing the same economic and finance pressures as the rest of the Nation, the town has something that won't change. Park City is a very desirable place to be. For those of us lucky enough to live here, we are in a place that many people come to vacation. For those who own a second home here, you have a beautiful place to go and recharge your batteries that is easy to get to from most places in the USA. Our location and the scarcity of beautiful and easily accessible towns will keep home values in Park City stronger in times of economic uncertainty.           For information on the average costs of housing in the Park City area see the neighborhood sections of http://www.youinparkcity.com/ or call us at 888-968-4672.         Posted by Todd Anderson Todd@YouInParkCity.com

 
 
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