Park City Real Estate News Blog

How is COVID-19 affecting Park City Real Estate?

By The ParkCityInvestor Team
Mar 23, 2020

While we would like to postpone showings of occupied properties while we are on lock-down, we want you to know that we are still here to to help you with your property search, facilitate virtual showings (if possible), provide a market analysis and give advise on listing your property.

As our economy fluctuates due to the uncertainty in the world markets, many questions surface relative to real estate. Here’s what we know. Real Estate has a lot more inertia than stocks, so prices tend to be more stable. We do not expect significant changes in prices in the short term.

Historically, real estate has been a solid long-term investment, particularly if you get to invest in building indelible family memories in this wonderful resort community. Inventory remains incredibly low across the nation, and with mortgage interest rates remaining low, homes will continue to be bought and sold. While there will undoubtedly be a slight pause in transactions while we all adjust to this “social distancing” paradigm, we see the likelihood of some wonderful buying opportunities in the months ahead. Having a strategy for how you want to come out on the tail end can help formulate the bridge to get there. I’d love to discuss this with you further.

During this time of uncertainty relative to the COVID-19 virus, our care and concern focuses on you, your family and loved ones, and especially the elderly and immune-compromised. Nothing is more precious than our families. We hope the precautions implemented nationwide have created a safe haven for your loved ones. The challenge of the abrupt shift for so many to virtual work and home schooling has no doubt created ripples in your routine, yet we all know it is for the greater good.

Please don't hesitate to reach out to us in regards to Park City Real Estate. The Park City Investor Team can be reached at 435.640.6966. Looking forward to talking to you!

Rare Opportunity at The Lodges at Deer Valley

By The ParkCityInvestor Team
Mar 13, 2020

2 Bedrooms I 3 Baths I 1,409 SF I 2 Lockouts

$815,000 I Bring an offer!

Lodges at Deer Valley Condos for Sale Condos for Sale in Deer Valley Utah Deer Valley Condos for SaleDeer Valley Real Estate Condos for Sale

Mortgages at Nearly 50 year Low

By The ParkCityInvestor Team
Mar 09, 2020

It is a good time to consider investment properties, cashing out, trading up, downsizing or refinancing!

The average rate of a 30-year fixed rate mortgage fell to a historic low of 3.29 percent last week. This is one of the lowest rates in almost 50 years. Sam Khater, Freddie Mac’s Chief Economist, said “Mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy.”

According to the report, rates for a 15-year fixed-rate mortgage averaged 2.79 percent, which is down from 2.95 percent from the previous week. Last year the rate for a 15-year fixed-rate mortgage was 3.83 percent. The refinance index increased 26 percent from the previous week and was 224 percent higher than the same week in 2019.

Call The Park City Investor Team at 435.640.6966 for help with your Real Estate needs.

Colony at White Pine Canyon Adding Clubhouse

By The ParkCityInvestor Team
Jan 21, 2020

The Colony at White Pine Canyon is one of the premier gated communities in Park City, Utah. The 274 homesites are some of the largest ski-in ski-out properties in the country. The developer is currently selling the final 40 lots. 172 homes have been completed, 30 are under construction and 44 owners live in the Colony full-time. The Owners and Board have voted to build a clubhouse to add value and boost owners social interactions and enjoyment. The current plan includes a smaller dining facility where the current Yurt is; as well as a larger dining and recreation facility near the gate.

<< Explore Real Estate at the Colony at White Pine Canyon >>

Lot incentives are currently offered. Call The Park City Investor Team at 435.640.6966 for more information on Real Estate in the Colony at White Pine Canyon.

Colony Park City Utah Real Estate Colony at White Pine Canyon Park City Real Estate - Canyons Village and Colony Park City

Goldener Hirsch to be completed Spring 2020

By The ParkCityInvestor Team
Jan 03, 2020

The Goldener Hirsch is nearing completion. This spectacular condo-hotel will offer 40 mountain contemporary residences ranging from studios to four bedroom floor plans with approximately 570 to 3,270 square feet of living space. Lock-out options will be available to maximize rental income. Each of the residences will be offered fully furnished. The Goldener Hirsch was built on the last remaining parcel in the heart of Silver Lake Village and a sky bridge will connect owners to the existing Inn and restaurant.

Goldener Hirsch has been designed by award-winning architect Tom Kundig. Interior design is done by TAL studio a la comfortable chic and mountain contemporary. 17 residences are still available.

Amenities for the new luxury ski hotel will include a front lobby with check-in, valet & concierge,  a lounge & outdoor patio with fire pits, rooftop pool & a hot tub with stunning views, a fitness center adjacent to the rooftop pool, a ski/boot locker room with Aprés-Ski Lounge, cafe, shuttle into town, a Conference Center and underground parking.

Deer Valley Resorts is going to manage the HOA and rentals.

Completion planned for spring 2020. All residences are sold fully furnished.

Contact The Park City Investor Team - Your Local Real Estate Experts- at 435.640.6966 for more information about how to reserve one of these spectacular residences.
 
  Condos for Sale - Deer Valley Real EstateGoldener Hirsch Deer Valley for sale

Sommet Blanc Deer Valley - New Condos & Townhomes for Sale

By The ParkCityInvestor Team
Dec 25, 2019

Sommet Blanc is a new development coming to the top of Empire Pass. It will sit adjacent to Empire Lodge and Montage Deer Valley. Sommet Blanc will consist of three slopeside residential lodge buildings with a total of 54 condominiums and six townhomes. The Alpine Villas are spacious townhomes offering approximately 5,000 square feet of living space. The Residences at Sommet Blanc include two, three, four and five bedroom floor plans. Large penthouses with spacious outdoor spaces will be located at the top of each building.

Sommet Blanc will offer the perfect combination of spectacular ski slope views, easy ski access, luxury modern alpine design and state-of-the art amenities.

Amenities and services will include an on-site restaurant and bar with ski beach patio, slope-side pool and hot tub, lobby and lounge, spacious locker room, après-ski lounge with terrace, kids activity room, fitness center, underground parking and oversized storage lockers. An on-site manager offers full-service property management and concierge services.

Starting on December 26, Reservations of Interest will be accepted which allows potential buyers to secure their place in line when the contract moves to unit specific reservations later this winter.

Floor plans, pricing and finishes are expected to be finalized by Presidents Week.

Update 1/17/19: 19 reservations of interest have been received to date.

Contact The Park City Investor Team at 435.640.6966 to receive more information about Sommet Blanc and to put in a reservation of Interest.

Silver Creek Village Real Estate Update

By The ParkCityInvestor Team
Dec 19, 2019

Hamlet Homes and Garbett Homes are the first builders to announce their projects at the new Silver Creek Village located off highway 40 and I-80.

Garbett Homes will initially build 26 Skyscape townhomes and 29 Eclipse single-family homes. This will be the first energy-rated community in Park City. All of the contemporary homes and townhomes are going to be zero-energy rated.

Skyscape consists of two and three bedroom townhomes with 1,400 to 1,700 square feet of living space and two-car garages.

Eclipse will offer nine rambler and twenty two-story single-family home residences. Buyers can choose from front-entry and back-entry garage floor plans. Each home is approximately 2,200 to 3,300 square feet with three bedrooms and a 2-car garage.

Silver Creek Village is easily accessible - less than 5 minutes from Kimball Junction and Park City. Silver Creek Village is located in Summit County and is part of the South Summit School District.

The first homes are available now. Pricing starts in the low $500's for the townhomes and $650's for the single family homes. HOA is anticipated to remain low.

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.

Silver Creek Village Townhomes for Sale Silver Creek Village Homes for Sale Silver Creek Village Real Estate

Deer Springs - New Homes at Jordanelle

By The ParkCityInvestor Team
Dec 14, 2019

Deer Springs is a new development on the east side of Jordanelle Reservoir - just minutes from the Park City city limits. The new community will consist of approximately 33 single family homes and 60 - 100 townhomes. The developer Holmes Homes is also building Wasatch Springs and Deer Waters. Floor plans will be similar to the other projects with finishes being a step up.

As of December 2019, no amenities other than a dog park are planned to keep the overall HOA low. Construction for the first eight residences is set to begin any day. Pricing for single family homes will start close to $850,000. Townhomes will be approximately $600,000.

** This project is APROVED FOR NIGHTLY RENTALS! **

While you can reserve residences, they are not yet listed on the MLS. Please call us for more info.

Contact The Park City Investor Team at 435.640.6966 for more information on Deer Springs or other developments in the Park City area.

Argent Deer Valley - Last Development in Empire Pass

By The ParkCityInvestor Team
Dec 10, 2019

Argent Deer Valley Condos for Sale Empire Pass UtahDeer Valley Real Estate - Argent Empire Pass

Argent is the final residential development coming to the Village at Empire Pass, one of the most exclusive ski areas in Park City, Utah. Argent is conveniently located between One Empire and Empire Residences, and will feature the finest in smart home technology along with expansive window walls to take in the wonderful mountain and valley panoramas. Agent is supposed to offer a lively and family-oriented environment with high-level services, amenities and the quickest access to the Silver Strike chairlift.

Amenities include a ski lounge with bar, large gathering table, ski lockers, coffee & hot chocolate service plus a media room; a kids room with arts and crafts, video and board games; the ‘Bowlski’s’ Gaming Studio will have two bowling alleys, video games, multiple TVs with surround sound, lounge seating, and an indoor putting green; Gym - Peloton-themed gym with expansive window walls for natural light and views; Skybox & Skydeck - An indoor ‘glass box’ room that is home to a shared library complete with telescope for stargazing as well as rooftop outdoor space; Outdoor Ski Beach Experience - Heated deck with extra-large hot tub, fire pit, and ski beach for outdoor après ski fun.

A Live-In Residence Manager will be assisting families in creating effortless and memorable vacation experiences. Ski Valet Staff ensures your gear is ready and waiting with fresh wax and sharpened edges. Pre-Ski & Après Ski Food & Beverage Experience is catered daily throughout the ski season.

We expect to have final pricing soon but approximate price ranges are:

  • 2 Bedrooms (1,600 to 1,700 sqft) - $2.3M to $2.6M
  • 3 Bedrooms (2,000 to 2,600 sqft) - $2.8M to $4.0M
  • 4 Bedrooms (2,700 to 3,400 sqft) - $3.5M to $5.2M
  • Penthouses (4 Bed - 3,800 to 4,000 sqft) - $6.4M to $6.8M
 

Reserve one of the last new residences in Empire Pass this winter.Construction set to start spring 2020 with an anticipated completion for the 2021/2022 ski season.

Update: 1/6/2020 - 13 reservations have been received to date.

Contact The Park City Investor Team at 435.640.6966 for more information on how to reserve a residence.
 

Other new construction developments in Deer Valley include: Empire Residences, Goldener Hirsch (Spring 2020), Snowpark Residences and Tower Club Residences.

 

Club 1981 - New Private Deer Valley Club

By The ParkCityInvestor Team
Nov 25, 2019

Club 1981 is a new private alpine club located at Silver Lake Village at Deer Valley® Ski Resort in Park City, Utah. The club features exceptional facilities and services for skiing.

Benefits include a limited number of ski passes, ski locker with boot dryer, ski valet, concierge, complimentary parking, complimentary beverage and snack bar in the clubs' private lounge, first track experiences, immediate family privileges, preferred pricing at the Resort restaurants, shops and services. Memberships are inheritable.

The full membership will be available for individuals, couples and families. Club 1981 limits its membership to 50 for the 2019/2020 ski season.

Private Deer Valley Club Private Deer Valley Club 1981

Spectacular Ski Home Listed in Park City

By The ParkCityInvestor Team
Nov 05, 2019

8 Bedrooms I 10 Baths I 17,606 SF

List Price: $18,975,000

This ski dream home is situated on 4.8 acres in the gated Colony at White Pine Canyon community. Access the great terrain of Park City Mountain - the largest ski and snowboard resort in the country - right from your door steps.

Ski Homes for Sale in Park City Utah

Contact The Park City Investor Team at 435-640-6966 for more information about this or other ski homes in Park City and Deer Valley. 

Pinnacle at Promontory

By The ParkCityInvestor Team
Oct 25, 2019

Pinnacle at Promontory is a private community situated within the gated golf community of Promontory. Pinnacle offers 64 spectacular homesites on 143 acres.

Buyers have the option to choose from three modern luxury home designs OR purchase an estate homesite on which they can build their custom residence. The Portfolio of Homes, offers semi-custom homes with approximately 5,700 square feet of living space. All homesites feature expansive views of the Wasatch Mountains, Dye Golf Course and the surrounding mountain vistas. The average homesite is two acres and allows a footprint up to 10,000 sf.. Some larger and smaller lots are available for sale.

Center of the Pinnacle community will be Skyhouse, a private clubhouse with a pool, spa treatment rooms, state-of-the-art fitness facility, showcase kitchen, and outdoor space designed to entertain and take in the stunning views.
Prices for the Portfolio of Homes start at $4.15 million.
BUYER INCENTIVES: As of October 2019, buyer incentives up to 20 percent are offered. These can be used to lower the purchase price, towards upgrades or memberships (limited time offering).
Insure that you have the best representation when buying and/or selling Promontory Real Estate. Contact The Park City Investor Team at 435.640.6966 for more information about Pinnacle or Park City Real Estate.
*These properties are not actively on the MLS. Please contact us for more info.* 
Promontory Real Estate - Pinnacle at PromontoryPromontory Real Estate - Skyhouse ClubhousePromontory Real Estate - Pinnacle at Promontory

Michael Jordan lists his Park City Home For Sale

By The ParkCityInvestor Team
Oct 25, 2019

5 Bedrooms I 8 Baths I 9,574 SF

List Price: $7.5 million

Located on 3.93 acres within the gated golf community of Glenwild, this modern elegant estate features cascading waterfalls, stunning views, a golf simulator, a stadium-seating theater, copper roofing and an infinity pool.

 
Contact The Park City Investor Team at 435.640.6966 if you are looking to buy and/or sell Park City Real Estate.
 

Colony at White Pine Canyon

By The ParkCityInvestor Team
Oct 22, 2019

The Colony at White Pine Canyon has had a good sales year so far with almost $90 million in closed real estate transactions and an additional $11.575 million under contract. As of October 15th, eleven homes and seven lots have sold. One residence and one homesite are currently under contract.

The developer at the Colony at White Pine Canyon is currently selling the final phase with a few stunning properties left located in a meadow surrounding ponds and waterfalls. The area turns into a cross-country ski track in the winter - designated for phase 5 owners only. In addition to the meadow lots, 18 of the highest elevation homesites are available with the last lot being over 13 acres.

The Colony consists of approximately 274 home sites of which 234 have sold. So far, 166 homes have been built and 29 homes are currently under construction. Lot sizes range from two to 113 acres. It is rare to find ski-in ski-out homesites of this size anywhere in the country.

Each lot owner is allowed to build within a specified building envelope. Permitted is a main residence along with a separate guest house and an accessory building. 10 ski lifts are located within the Colony to date connecting to both the Park City and Canyons Village side. All utilties including fiber optic internet are available

With almost 90 percent of preserved land, the Colony offers luxury living, ski access and privacy in one of the most beautiful areas of Park City. The Colony is located an easy 35-mile drive from Salt Lake International Airport and 5 miles from Park City's Main Street.

Get a $50k incentive when you purchase one of the 21 remaining developer homesites priced from $1.8 to $5.5 million. Homes currently range from $3.99 to $14.950.

Interested in a lot or residence at The Colony at White Pine Canyon? Contact The Park City Investor Team at 435.640.6966 for more information.
 

Colony at White Pine Canyon Park City Utah Real Estate Homes for sale Colony at White Pine Canyon Park City Utah Colony Park City Utah Real Estate

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

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