Park City Real Estate News Blog

Argent Deer Valley - Last Development in Empire Pass

By The ParkCityInvestor Team
Dec 10, 2019

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.

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.

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

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

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. **

Mayflower Resort Park City Utah Mayflower Resort Real Estate Park City Utah Mayflower Resort Park City Utah - Military HotelMayflower Resort Park City Utah Real Estate

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. 

Victory Ranch Residence Club - Park City Utah Real estateVictory Ranch Utah Cabins and Real Estate for SaleVictory Ranch Real Estate for SaleVictory Ranch Cabins for Sale - Park City Utah Real Estate

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