Park City Real Estate News Blog

Snow Park Residences at St. Regis Deer Valley

By The ParkCityInvestor Team
Oct 17, 2019

The Snow Park Residences at The St. Regis Deer Valley is the highly anticipated new phase of St. Regis Deer Valley. The nine exclusive residences are going to be located at Snow Park Lodge in Lower Deer Valley - between the funicular and Black Diamond Lodge. These residences are perfect for anyone looking for: new construction, luxurious and contemporary finishes, easy access year-round as well as close proximity to the lifts, ski school, summer concerts and the Deer Valley Academy and summer camp. The development will offer a family-style restaurant as well as an on-site members' lounge and terrace.

Each owner will benefit from two parking spots, a Deer Crest Club family membership, access to all St. Regis amenities including the pool, fitness center, room service, concierge and ski valet. All utilities will be included in the HOA as well as complimentary shuttle service up to five miles.

The Snow Park Residences at St. Regis Deer Valley are comprised of four x two-bedroom residences, four x three-bedroom condos and one x two-story penthouse. Each residence will have one lock-off bedroom that can be rented out to maximize rental income. Finishes include Rift-cut red oak hardwood floors in the living and dining room, kitchen and foyer. The beautiful kitchen will feature Wolf/Sub-zero appliances and an under-counter wine refrigerator. The kitchen and bathrooms will have elegant natural Quartizite stone countertops and Waterworks fixtures. All master bathrooms come with steam showers and heated floors. Owners will enjoy walk-in closets and plenty of storage. Each residence has a climate-controlled bonus area, laundry rooms with full-size washer and dryer, large heated balconies and individual HVAC controls for each residence and lock-off. Square footage ranges from approximately 2,500 to 4,200 square feet.

The developer has broken ground and is confident for a completion in the summer/fall of 2020.

The Snow Park Residences will be available for reservation December 1, 2019. Let us know if you are interested so you don't miss out when they become available! Contact The Park City Investor Team at 435.640.6966.

Snow Park Residences for sale St Regis Deer ValleyDeer Valley Real Estate Snow Park Deer Valley Condos for Sale

Stunning Properties in Heber City for Sale

By The ParkCityInvestor Team
Oct 14, 2019

Heber City is one of the fastest growing towns in North America. With its close proximity to Park City and Utah County, it is a great opportunity for anyone looking for the mountain lifestyle at a lower price point. The Heber Valley offers everything from the perfect starter home to large ranch properties and contemporary estates in the private Red Ledges golf community. Surrounded by stunning mountain vistas, Heber offers endless outdoor activities: blue-ribbon fly-fishing, golf, cross-country skiing, boating, mountain biking and much more. Heber has a small airport. Salt Lake City International Airport is 45 minutes away.

Contact The Park City Investor Team at 435.640.6966 for more information about Real Estate in the Heber Valley.

Heber City Real Estate

Park City Real Estate Market Remains Strong

By The ParkCityInvestor Team
Oct 08, 2019

A question we get quite frequently is whether the market is going to see a recession soon. We wish we had a crystal ball and were able to answer this question. In the past few years we have seen properties appreciate up to 13 percent per year in a lot of areas in and around Park City. Currently, we may not see the same hikes, but instead, prices are stable. Properties are still moving in all price ranges. In fact, in the past couple of months we have seen properties move in price ranges we rarely see activity in. River Meadows Ranch sold for $32 million, a $25 million Deer Valley ski home went into escrow within two weeks on the market and several people are buying multiple million dollar new-construction condominiums simply to combine them to one large luxury residence.

The Park City market is for sure very different from other real estate markets. We do see a lot of cash purchases and many sellers are not in the need to sell or discount their properties.

Over the past few months we have come across some interesting articles on Inman.com, CNBC.com, Business Insider and Inc.com.

Is it better to invest into real estate instead of the stock market?

The Dow Jones has gone from a low of 6,469 in March of 2009 to 26,599 in the end of June 2019. In the recent months, we have seen buyers enter the Park City market with the long-term investment set mind to avoid the day-to-day stock market volatility.

Of the five potential options suggested by Forbes for investing in a volatile stock market, real estate financed with fixed-rate debt may protect investors against rising interest rates. Long-term rental properties can certainly perform well during an inflationary period. People always need a place to live. On the other hand, while not a lot of nightly-rental properties in Park City generate a return of 6 percent or higher, most of them do cover all expenses and owners tend to cash-in on long-term appreciation.

We hope you found this information helpful. Please contact us at 435.640.6996 if you have any questions about the Park City real estate market, or if you or anyone you know may be looking to invest into a property prior to winter. We appreciate your business.

Ranch Property for Sale Utah Homes for Sale in Deer Crest Utah

New Undercrossing at Mayflower

By The ParkCityInvestor Team
Oct 03, 2019

Construction on a new undercrossing at Mayflower is scheduled to start March 2020 and will provide convenient resort access for Sky Ridge and Star Harbor owners. The new portal beneath U.S. Highway 40 will allow easy east-west crossing and help reduce congestion. It will also offer sidewalks and bike lanes.

Sky Ridge, a new master-planned community on the north-west shore of Jordanelle, will feature over 485 homesites on 670 acres. Sky Ridge has a strong commitment to sustainability and reducing traffic congestion. The community will offer transportation for owners and their guests to Deer Valley, Canyons Village, Mayflower Resort and the Park City Transit Center. It will also feature charging stations for e-bikes and electric vehicles.

98 of the 132 homesites in Phase 1 are sold or reserved. The remaining lots range from 0.16 to 0.27 acres. Pricing starts at $216,000. Amenities at Sky Ridge will include an equestrian facility, small golf academy, club house with infinity pool, fitness room, spa, grocery cafe and game room. The amenities will be public to keep the HOA low.

Interested in investing into the area of the future Mayflower Resort? Contact The Park City Investor Team at 435.640.6966. 

Sky Ridge Park City Utah - Mayflower Resort Park City

 

Park City Real Estate Market Update

By The ParkCityInvestor Team
Sep 30, 2019

The second and third quarter market reports confirmed that the overall year-over-year housing statistics for Summit and Wasatch Counties continued to show healthy appreciation with increases in both average and median sales prices as well as dollar volume as reported by the Park City Board of Realtors® Multiple Listing Service.

The greater Park City market in general continues to show great stability in single family homes. Despite an 8% drop in number of homes sold, the median sale price rose 14% year over year. During the same period in 2018, the median sale price gained 13%, indicating a sustained period of steady, consistent growth. Nationally prices grew at a steady 5% during the same period, with Idaho (11.4%), Utah (7.7%) and Tennessee (7.2%) showing the highest increases year over year.

Condominium and vacant land sales did not fare as well with condominium sales volume down 6% and land sales down 21%, despite respectable gains in median sale price of 4% and 6% respectively.

Inventory hits its annual peak level during summer. Going into fall, buyers will be challenged to find variety in the currently available inventory in all segments of the market. The resale market in general remains strong, buoyed by increasing costs to build driven by rises in both materials and labor. Custom homes now cost between $500-600/sq. ft. to build and can take as long as 16-24 months to complete, making the resale market more attractive for some buyers. New school facilities in south Summit and Wasatch counties are making homes there even more attractive to home buyers with younger children.

Real estate in the Wasatch Back consists of highly segmented markets with nuances that vary significantly from one neighborhood to another and one house to another. Comparisons are hard to read on paper due to the unique features of individual properties, such as views, amenities, condition, style, location, age, and inventory.

Please reach out to The Park City Investor Team at 435.640.6966 for a more detailed analysis of your specific property needs.  

Mayflower Resort Update

By The ParkCityInvestor Team
Aug 21, 2019

Information about the new Mayflower Resort have been released by the media last week. While official building permits have not yet been approved by the county, here is what we know so far:

Extell owns 5,600 acres located adjacent to Deer Valley Resort®. This new Resort Village will be accessible from U.S. Highway 40 at the Mayflower exit and will include:

  • 1,520 private residential residences ranging from estate lots to luxury condominiums
  • 3 luxury and lifestyle-branded hotels with 825 rooms and commercial units
  • 600 skier parking spaces
  • 95,000 square feet of workforce housing
  • A 68,000-square-foot recreation center that will be open to the public
  • 6 new ski lifts
  • 2 magic carpet conveyors
  • A connecting lift to Deer Valley Resort and
  • A large ski beach that will lead into the village.
 

There will be an extensive snow making system and trails for all ability levels.

Center of the village will be a MIDA hotel covering 615,000 sf and an additional 75,000 sf of commercial and conference space. One floor will be available to Active Duty Military and Veterans will at reduced rates. About 55 residences will be for sale.

Initial ground clearing and road excavation has already started. Two tunnels will be put in to connect the Mayflower real estate area with the Deer Crest side.

Groundbreaking for the MIDA hotel and convention center is scheduled to begin next spring. Mayflower Mountain Resort is currently scheduled to open in the winter of 2021-2022. Whether Deer Valley Resort will manage the new lifts still has to be determined.

Contact The Park City Investor Team at 435-640-6966 for more information about Mayflower Resort and get on our list to be notified as soon as new resort properties become available for sale.

** All information provided is deemed reliable, but is not guaranteed and should be independently verified. **

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St. Regis Deer Valley Phase 2

By The ParkCityInvestor Team
Aug 05, 2019

St. Regis Deer Valley is going to release Phase 2 this fall. Phase 2 will consist of nine very exclusive and private residences at Snow Park. Located between the St. Regis funicular and Black Diamond Lodge, this project will be unlike any other condo product that has ever been available in Lower Deer Valley. All residences will have south-west views, nice balconies, luxurious mountain contemporary finishes, climate controlled owner storage, one assigned and one floating parking spot and much more.

Owners will receive a membership to the new Deer Crest Club at Snow Park and are able to use all amenities at St. Regis such as their pool, fitness center, ski valet, shuttle service etc. The building will also feature an intimate but family-friendly Italian restaurant.

The developer is hoping to have the project completed by summer/fall 2020.

Contact The Park City Investor Team at 435-640-6966 for more information on how to reserve one of the residences in Phase 2 of St. Regis Deer Valley.

New Development: Remund Farms Midway

By The ParkCityInvestor Team
Jul 30, 2019

Remund Farms is a new development in Midway brought to you by Watts Living – a local developer that also built Dutch Fields and Dutch Canyon. Located steps from Memorial Hill, this 50-acre community consists of 97 homesites of which 39 will be released in phase 1.

Remund Farms offers five home plans with approximately 2,793 to 4,400 square feet of living space with three to five bedrooms and either a two or three-car garage. All homes will implement Green technology such as SmartHome climate control and security systems, dual-zone heating and air, LED lighting as well as high-efficiency insulation, furnace and air conditioning units. The interior space will feature 10-foot main floor ceilings, a gas fireplace, granite/quartz countertops, Moen fixtures, stainless steel Kitchen Aid appliances, walk-in pantry and much more.

The developers dedicated 30-acres to open space, 15 acres are protected wetlands and the community has three spring-fed ponds.

Amenities at Remund Farms are to include walking trails, parks, large open spaces, an activity barn, pool, club house and fitness center, lakes, gardens and playgrounds. In addition to that, the Heber Valley offers three championship golf courses, blue-ribbon fly fishing at the Provo River, water sport activities at Deer Creek and Jordanelle Reservoir as well extensive trail systems for hiking, biking and snow shoeing.

Contact The Park City Investor Team at 435-640-6966 for more information about Remund Farms. Pick your home site today!

Midway Utah Homes for Sale Homes for Sale Midway Utah Remund Farms Midway Utah Real Estate

Victory Ranch Real Estate Update

By The ParkCityInvestor Team
Jul 11, 2019

Victory Ranch real estate sales are strong with lots of new construction going in. Currently a very popular product are the lake cabins. Stony lake offers fishing, paddle boarding as well as a boat house. Only three of the stunning cabins overlooking the water are still for sale. The Castaway cabins surround the fishing-only Castaway pond. The Castaway Cabins sold so quickly that the developer added two additional homes to the original master plan. Prices starting at $2.595 million with a full membership.

Victory Ranch also introduced its Residence Club. The Residence Club offers a fractional ownership option for those who love the community but do not want to commit to a full-time residence. The sixteen mountain contemporary cabin residences are located just above the Kamloop Trail with views of the Upper Provo River. Each owner is granted six weeks of carefree vacation per year with access to member services, concierge, storage, an electric Moto vehicle and all amenities. The two floor plans offer three bedrooms or three bedrooms + a bunk room with approximately 2,015 to 2,858 square feet of living space. Each cabin has an open concept floor plan, cutting edge kitchen appliances as well as solar power, a hot tub, outdoor fire table and a two-car garage. For those who are local an "Unlimited Golf Upgrade Option" is available and allows immediate family and accompanied guests to golf whenever you want with no green or cart fees.

Contact The Park City Investor Team at 435-640-6966 for more information about Victory Ranch Real Estate. 

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Stein Eriksen Family Residence for Sale

By The ParkCityInvestor Team
Jul 05, 2019

The personal residence of ski legend and Deer Valleys iconic Stein Eriksen is for sale. The European-style mansion offers almost 8,000 square feet of living space, five bedrooms, seven baths, a modern care-takers apartment perfectly suited for long-term guests. The property features a pond, two streams and water features. The home is located on a private cul-de-sac with stunning views of the Park City Municipal Golf Course and Park City Mountain Resort.

Contact The Park City Investor Team at 435-640-6966 to learn more about the property and Park City Real Estate.

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Tuhaye introducing New Exciting Concepts

By The ParkCityInvestor Team
Jun 21, 2019

The new development team at Talisker laid out exciting new concepts for the club. Besides adding new, state-of-the-art amenities, Talisker is striving towards delivering new levels of hospitality, service and most importantly memorable experiences. As a Talisker member you can enjoy amenities and golf in Tuhaye, access the iconic ski-in ski-out Tower Club in Empire Pass, enjoy backcountry activities and wine/dine in the exclusive member-only restaurant and lounge on Main Street. Courchevel on Main Street is set to open this summer. Tuhaye is adding a Kids Pool Pavilion, and Moondance Park with playgrounds, volleyball courts, soccer field, dog park, zip lines as well as an ice rink in the winter. The iconic Tower Club in Empire Pass is currently being renovated. Talisker is adding a new full-service spa, a new Wildstar Kids Camp and they are expanding the Fitness Center. The Outdoor Living experience will be enhanced with new pool, pavilion, fire pits, hot tubs and ski beach. The Outpost on Guardsman Pass offers a back-country yurt which is a perfect starting point for horseback riding, tubing, snow shoeing, snowmobiling, and much more. A club boat is available for water sports and shuttle services are offered between all Talisker locations.


New Talisker-Approved Properties 


Tuhaye - Whispering Hawk will offer three to four bedroom mountain contemporary cabins with 1,890- 3,288 sf. of living space and views of the golf course and surrounding mountain range. Prices starting at $1.6 million

Tuhaye - Morningstar will offer approximately 30 shared ownership options for five-bedroom cabin homes with 5,700 sf of living space. Perfect for anyone who wants to "test" Tuhaye life. The limitation on shares allows for an easier resale down the road.

Only 4 of the 14 Tower Club Residences in Empire Pass are still available for sale. These spectacular residences offer prime ski-in ski-out access in a boutique-hotel-style setting with some of the best amenities in Empire Pass. The Tower Club Residences offer three, four and five bedroom floor plans.

Moonshadow Estates offer a rare, limited opportunity to build your home of choice in Empire Pass - Deer Valley. This enclave of eight estate-sized custom homesites do no building restrictions. You can build as modern or traditional as you want.

 

Contact The Park City Investor Team at 435-640-6966 for more information about Talisker, Tuhaye and Park City Real Estate.
 

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Colony at White Pine Canyon Real Estate Update

By The ParkCityInvestor Team
Apr 22, 2019

The Colony at White Pine Canyon had a good first quarter of 2019 with four homes and five home sites sold. Three additional homes are currently under contract and scheduled to close soon. The total sales volume for the first quarter is $34,955,000.

In 2018, the Colony saw $113,440,000 in sales volume with 12 homesites and 7 custom homes sold.

Right now, 27 homesites are available, priced from $1.9 million to $5.5 million, and 10 custom homes for sale, priced from $5,975,000 to $14,950,000.

The Colony at White Pine Canyon features some of the largest ski-in ski-out lots in the country with home sites averaging six acres in size. The Colony is a gated community nestled within the largest ski and snowboard resort in North America. It is surrounded by more than 400 miles of single-track hiking and biking trails in the summer. Over 90 percent of the 4,600 acre development is dedicated to open space.

Interested in Park City property?

Contact The Park City Investor Team at 435-640-6966 for more information. Set up your property tour today.

Colony at White Pine Canyon Real Estate

New Development in Pinebrook: Discovery Ridge

By The ParkCityInvestor Team
Mar 25, 2019

Discovery Ridge is a new 72-acre residential development that is going to be located on Kilby Road which connects Summit Park and Pinebrook.

Discovery Ridge will consist of 67 residences of which 42 are going to be single-family homes, four are duplexes and 21 townhomes. Each residence will have a two-car garage. If a reservation is made during the construction phase buyers can select from three color palettes and other interior features.

The development can be accessed just passed Weilemann – School of Discovery and will stretch over to Woodward. It will feature 75 percent of open space and backs up to an additional 780 acre Toll Canyon Open Space Park. Amenities will include a basic trail system and two community play grounds.

30-night minimum for rentals. Up to two dogs and cats allowed.

Discovery Ridge is located in the Park City School District. Phase 1 includes thirteen townhomes and two twin homes starting at $680,000.

The Reservation process has begun and the first foundations are to be poured.

Insure that you have the best representation when buying and/or selling Park City Real Estate. Contact The Park City Investor Team at 435-640-6966 for more information about Discovery Ridge and how to reserve one of these residences.   

Discovery Ridge Pinebrook - Townhomes and Single Family Homes for Sale Discovery Ridge Real Estate for Sale Park City Utah Discovery Ridge Pinebrook Park City Utah

Park City Investor Awarded Best Performing Group for KW Park City

By The ParkCityInvestor Team
Mar 05, 2019

Friday night was a big night for The Park City Investor Team. At the Annual KW Utah Awards Gala we were named the Top Producing Team for KW Park City. In addition to that, Drew earned the Triple Gold Medallion Award while Annett earned a Silver Medallion and was awarded Rookie of the Year in the team category.

Thanks to all of our clients. We love what we do and are looking forward to working with you for many years to come!!

Park City Real Estate Agents

Properties taking Reservations - NOT listed on MLS

By The ParkCityInvestor Team
Feb 22, 2019

CANYONS VILLAGE

** Pendry Park City at Canyons Village has received over 40 reservations of interest. Monday specific unit reservations will be finalized and the developer will raise the prices!!

** Ridge at Canyons Village located on Red Pine Road between Silverado and Sunrise Lodge, Ridge will feature spacious four and five-bedroom residences.

** Viridian at Canyons Village - townhomes across from Waldorf Astoria. On the golf green. Steps from the Frostwood Gondola.

** White Pine Canyon Village at Canyons located on White Pine Canyon Road adjacent to Black Rock Residences - steps from the Lower Village Cabriolet.

DEER VALLEY

** New Larkspur building featuring 3 luxurious townhomes. Currently all reserved. Backup position possible.

** Moon Shadow Estates in Empire Pass features 8 lots for sale. Lots are starting at $2 million and allow homes up to 8,000 SF. As opposed to other areas in Deer Valley limited building restrictions exist and it is possible to build an ultra modern home. Reservations are being taken.

** Tower Club Residences in Empire Pass only 4 of the 12 Residences are still available for reservation.

JORDANELLE

** Klaim at Jordanelle - these will go fast! Townhomes starting at $600k. Nightly Rentals allowed.

** Mayflower Lakeside - only 8 of 48 residences remaining - new condos featuring lake views and easy access to the Deer Valley gondola. Once Sky Ridge is finished an equestrian center and golf academy will be in close proximity.

** Skyridge - located on the west-side of Jordanelle. Currently taking reservations for lots in Phase 1.

** Tuhaye - lots of new construction coming up. The developer will break ground on a number of new modern 2 to 3 bedroom villas. Each cabin home will feature large window fronts to showcase the spectacular views of the golf course and mountain vistas. Prices starting at $1.5 million and purchase will include a full Talisker membership. Amenities include a championship golf course, club house, pool, fitness center, spa, access to Tower Club in Empire Pass and a new lounge/restaurant on Main Street. More to come!

** Victory Ranch - now offering 1/8th Fractional Interest residences starting at $395,000.

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