In The News

Where Homes Are Flying Off the Market—and Where They're Lingering Longest

By ParkCityIs.com
Mar 22, 2018

| Mar 12, 2018

Why do home buyers and sellers alike track days-on-market stats every bit as obsessively as money managers fixate on the Dow, baseball fans on weight-on-base averages, or "Bachelor" fans on ambush breakups? Well, it all depends on which side of the sales aisle you're on. Sellers, of course, want their homes to move to closing as quickly as possible, maybe even spurring a sweet price war en route. Buyers, on the other hand, are eager to avoid said price wars and maybe even have a bunch of different homes to choose from.

But contrary to what you might assume from reading real estate news headlines, there are metro areas where homes aren't being snapped up at a breakneck pace. It's a big country, after all. So we got curious. What could we learn from how long homes spend on the market in different metros?

The realtor.com® team of data wizards set out to learn where "For Sale" signs are coming down about as quickly as Tickle Me Elmo toys flew off the shelves circa 1996—and where abodes are taking the longest to sell. It turns out, those two opposing lists portray clashing versions of America's real estate market today.

Buyers and sellers, take note(s)!

“That info can give home buyers an idea of how much competition they face, how limited homes are in the market, and how quickly they need to make a decision if they find a home they like,” says Chief Economist Danielle Hale of realtor.com.

And sellers can get a reality check about how long their home should spend on the market—if it's priced right and in good condition.

"It helps them get an idea of how long they have to move somewhere else,” Hale says. “In a really hot market, you can probably sell your home without making updates. But if you make updates, your home is more competitive.”

Nationally, the median number of days on the market is falling—there are too many buyers and not enough properties for sale, particularly in booming tech hubs. It hit a low of 60 days in the high-home-buying season of both May and June 2017, according to realtor.com data. That's down from 89 days in June 2012. (Our data go back only to May 2012.)

To figure out where these home-buying headaches are the worst (or are relatively painless), we looked at the median number of days that for-sale homes in the 300 largest metros spent on market from February 2017 through January 2018.* We limited our rankings to just one metro per state to ensure some geographic diversity.

Ready? Get set? Let's first go look at those boiling-hot metros where homes spend the least time on market.   SALT LAKE CITY #3

READ THE FULL ARTICLE : https://www.realtor.com/news/trends/hot-markets-where-homes-are-flying-off-shelves-and-where-theyre-not/

 

 

Winter 2017/2018 Local Neighborhood Guide

By ParkCityIs.com
Dec 05, 2017

The Winter 2017/2018 LIVING: Mountain Real Estate Guide is now available. Check it out at http://joom.ag/CVKL

*Now available with embedded videos!

Utah is aging beautifully...

By ParkCityIs.com
Aug 24, 2017

Utah was ranked the best state to grow old in.
A new survey from Caring.com ranked all 50 states on how great a place they are to grow old in. The rankings were based on categories including quality of care, cost of living and available health care.

[embed]https://youtu.be/DgYf7NpnMjQ[/embed]

Article:

Successful Art festival

By ParkCityIs.com
Aug 15, 2017

After a successful Arts Festival, the Arts Festival Partners are ready to roll up their sleeves and start planning a Park City Arts and Culture District.

Park City’s Largest Outdoor Dinner Party

By ParkCityIs.com
Jun 08, 2017

Outdoors in the heart of Park City

This is not your average dinner party! Loosen your belts, Park City’s Savor the Summit returns to historic Main Street for the largest dinner party in the state. On Saturday, June 17, 2017 at 6 p.m., over 25 restaurants will be serving their specialities to over 2,500 participants, al fresco, as the sun sets behind Main Street. Park City’s biggest outdoor dinner party offering diners a unique celebration of fabulous food, drink and live music while seated in the middle of Main Street. Park City best restaurants will showcase their culinary talents in an open air community celebration. It’s a summer solstice party of wine, dining and music set in a unique setting. To join the party you’ll need to make reservations with your favorite restaurant. Menus range in price with some restaurants offering wine or beverage pairings. View the list of participating restaurants below and make your reservation today – this event will sell out!

https://historicparkcityutah.com/news/2017-summer-event-preview

LOCALLY SOURCED EATS IN PARK CITY AT THE HYATT CENTRIC

By ParkCityIs.com
Jun 07, 2017

Yum!  We can meet over lunch or dinner and discuss the Whole-ownership opportunities! Hyatt Centric Park City offers a prime ski-in & out location at the Canyons Village; giving you instant access to America's largest ski resort- Park City Mountain.   Email Us: Team@ParkCityis.com

 

https://saltlakemagazine.com/locally-sourced-eats-park-city-hyatt-centric/

 

You skied it!   Now golf it!

By ParkCityIs.com
Jun 06, 2017

 

 

 

 

 

 

 

 

 

 

Canyons Golf at Park City.

http://www.parkcitymountain.com/activities/golf.aspx?CMPID=BAC_UT_PC

Park City is a Four Season Town

By ParkCityIs.com
Jun 02, 2017

Yes, Park City is very much a four-season town. Just look at all there is to enjoy throughout the year.

 

 

 

 

 

 

 

 

 

 

 

TRAVEL

The Four Seasons of Park City

Park City offers so much more than the Sundance Film Festival—all year long

Anyone who knows of Park City, Utah likely associates it with the Sundance Film Festival, the 10-day event celebrating independent filmmaking from around the world. But the city itself has so much more to offer—all year round.

Scott House moved from Michigan to Park City because he loved the winters there. But he soon discovered endless activities stretching beyond that season. "I spend most of the spring, summer and fall on my mountain bike," says House who works with the outdoor retailer jans.com and with White Pine Touring. "I love the diversity of activity available to me. There is always something to do outside, which is really special."

Yes, Park City is very much a four-season town. Just look at all there is to enjoy throughout the year.

For the full article: https://www.chase.com/news/010716-park-city-seasons 

One More Step-Canyons Village

By ParkCityIs.com
Nov 11, 2016

DSC_0133 copyLast week, the ski resort maintenance building at Canyons Village at Park City Mountain Resort was demolished in preparation for the new season. The removal of this eye sore bodes well for the Frostwood area, which includes the developments of Juniper Landing, Viridian and Waldorf Astoria Park City. These developments are all poised to capture the current energy and continued evolution of Canyons Village.

As the backhoe began to tear the building down, cheers erupted from those observing from the Waldorf’s deck including their staff, TCFC executives and Berkshire Hathaway HomeServices Utah Realtors ®, who represent many projects in the area. Champagne and pastries provided by Waldorf Astoria added to the joyful morning.

Larry White, TCFC’s CEO and his team have worked diligently to comply with the agreements made long ago between Canyon’s SPA and the County. The demolition of the maintenance building was part of that agreement.  The expanded 11th hole of the Canyon’s golf course, and its green will occupy the site. This week, we are happy to report one more milestone achieved in the Canyons Village plan.

Real Estate Information:  ParkCityIs.com

Team@ParkCityIs.com | Tyler 435-640-3588 | Peggy 435-640-0794

First Quarter- Park City, UT Real Estate

By ParkCityIs.com
May 03, 2016

Exterior_800x600_1288032Greater Park City Area

Single Family Homes Sold this Quarter: 180

Average Single Family Sale Price: $1.3 million

Median Single Family Sale Price: $722,000

Condominiums Sold this Quarter: 151

Average Condo Sale Price: $800,000

Median Condo Sale Price: $500,000

Wasatch County

Single Family Homes Sold this Quarter: 58

Average Single Family Sale Price: $584,000

Median Single Family Sale Price: $434,000

Condominiums Sold this Quarter: 35

Average Condo Sale Price: $429,000

Median Condo Sale Price: $355,000

Reach out for a comprehensive overview of Park City's market and your neighborhood's trends. Call the Marty- Richardson Team. 

Peggy Marty 435-640-0794 | Peggy@ParkCityIs.com

Tyler  Richardson 435-640-3588 | Tyler@parkCityIs.com

In the News

There's Only One Park City.

In true Park City fashion, the entire town seemed in attendance at Legacy Lodge for Vail Resort's announcement of One Park City, its new brand and resort launch. After the intro video, Vail's Chief Operating Officer and Chief Marketing Officer spoke about the new brand and Vail's progress-to-date on its $50 Million improvement plan.

Our biggest takeaway: the largest resort in America is now operating right here in Park City. After $50 million in capital improvements, which will be completed in time for opening this winter, mountain visitors will have access to 7,300 acres of ski terrain, 17 peaks, and a resort that extends 6.5 miles in length.

The new Quicksilver gondola is proceeding on schedule and will be operational for the 2015-2016 season. Vail Resorts settled on the name "Quicksilver" because it denotes Park City's mining history and the speed of the 8-person, state-of-the-art conveyance, which transports riders from the base of Silverlode to the Flatiron Lift via Pinecone Ridge in just 8 minutes.

The restaurant formerly known as Snow Hut, has been re-named Miners Camp and will seat 500. Additional improvements and expansions will be made to Red Pine Lodge (capacity will be expanded by 250 seats), Summit House, and Legacy Lodge. Snow making has also been added to Iron Mountain and near the gondola.

The new consolidated resort will operate under the name, Park City. The logo was re-purposed from Canyons Resort and has the tagline, "There is only one. Park City."

 

In the News

 

Vail Releases Details of Improvement Plan

Today, Vail Resorts shared their action and improvement plan with regards to Park City Mountain Resort and Canyons Resort. The plan includes more than $50 million in improvements that will take place in just one season, making it the most ambitious ski resort improvement strategy to date. The changes will create the largest ski resort in America by combining Park City Mountain Resort and Canyons Resort. Here are some specific improvements listed in Vail's comprehensive press release:

The Interconnect Gondola. An eight-passenger, high-speed two-way gondola from the base of the existing Silverlode Lift at Park City to the Flatiron Lift at Canyons. The gondola will also have an unload at the top of Pine Cone Ridge to allow skiers and riders the opportunity to ski into Thaynes Canyons at Park City via gated ski access or to the Iron Mountain area at Canyons through new trails that will be created from Pine Cone Ridge. 

Upgrade of King Con and Motherlode Lifts at Park City. The King Con  Lift will be upgraded from a four-person to a six-person, high-speed detachable chairlift. The Motherlode Lift will be upgraded from a fixed-grip triple to a four-person, high-speed detachable chairlift. 

New Snow Hut Restaurant, Upgrades to Summit House Restaurant at Park City and Expansion of Red Pine Lodge Restaurant at Canyons. The plan calls for building a completely new Snow Hut restaurant at the base of the Silverlode Lift and next to the Park City terminal for the Interconnect Gondola, with 500 indoor seats and a top-of-the-line kitchen and culinary experience. The plan also includes an upgrade to the "scramble" area inside the Summit House restaurant to improve the flow of diners and increase seats. At Canyons, the Red Pine Restaurant will be renovated to accommodate an additional 250 indoor seats. 

Snowmaking and Other Improvements. The plan features additional snowmaking on two trails in the Iron Mountain area of Canyons which will become increasingly central ski terrain given its proximity to the Interconnect Gondola. The plan also includes almost $5 million of "catch up" maintenance and upgrades at Park City, given the lack of spending at the resort over the past few years. 

"This comprehensive capital plan for Park City and Canyons is one of the most ambitious and impactful plans undertaken at any resort in industry history, transforming the experience at both resorts and creating the largest single ski resort in the U.S. with more than 7,300 acres of skiable terrain," said Blaise Carrig, president of the mountain division for Vail Resorts. He added, "The improvements offer skiers and riders more terrain and upgraded lifts to enhance the guest experience and reduce crowding and lift lines, new and upgraded restaurants, more snowmaking and an overall ‘touching up’ of all aspects of the resorts. The plan was based on feedback from guests and the local community as well as discussions with the senior operating teams at the two resorts. We look forward to continuing to work with the county and the city and are hopeful we can bring this plan to life for the 2015-2016 ski season."

 

In the News

In the News

Deer Valley Purchases Solitude

DEER VALLEY RESORT, PARK CITY, UTAH (October 3, 2014) – Deer Valley Resort has entered into an agreement to purchase Solitude Mountain Resort and will begin operating the resort on May 1, 2015.

“Solitude is an incredible resort and provided a huge opportunity for us to expand our offerings right here in Utah,” said Bob Wheaton, president and general manager of Deer Valley Resort. “Solitude is in unique position with their widely varied terrain that attracts both local and destination skiers. We are ecstatic to be able to add the resort to the Deer Valley® family.”

“The DeSeelhorst family has enjoyed being a part of Solitude’s history for almost 40 years. We are proud of what we have been able to accomplish at the resort and in our mountain community,” said Dave DeSeelhorst, owner and general manager of Solitude Mountain Resort. “We feel very fortunate for the opportunity to have worked with so many amazing people in our industry and most importantly being able to work with our incredible staff at Solitude over the years. It is exciting to pass on this unique and beautiful resort to one of the best resort operators in the country, Deer Valley.”

For the upcoming 2014-15 ski season, Solitude will operate as usual under the leadership of the DeSeelhorst family. To foster the most effective and strategic change over, select Deer Valley staff will work alongside Solitude staff during the next six months to evaluate resort operations and gain knowledge about the Solitude brand and culture. Deer Valley will then take full ownership of Solitude Mountain Resort on May 1, 2015.

 

In the News

 

Park City Mountain Resort Sells to Vail for $180. Million

September/ 2014

Powdr Corp. has sold its Park City Mountain Reosrt to Vail Reosrts, ending a tumultuous year for Utah’s most popular ski destination.

"Selling was the last thing we wanted to do, and while we believe the law around this issue should be changed, a protracted legal battle is not in line with our core value to be good stewards of the resort communities in which we operate," Powdr CEO John Cumming said in a statement. "A sale was the only way to provide long-term certainty for PCMR employees and the Park City community. My family and I are extremely grateful to have had the opportunity to play a role in making PCMR what it is today, and we deeply appreciate the dedicated employees and all of the people who have supported us over the years."

The deal requires Vail Resorts to retain Park City Mountain Resort employees.

Powdr owned the Utah resort for more than 20 years, growing it into one of the most popular ski areas in North America.

According to Vail's Press Releases, with the acquisition, all aspects of the previously disclosed litigation with respect to PCMR have been settled and this dispute will no longer pose any future threat to disrupt the operation of the resort.

"First and foremost, we are very pleased to bring a permanent end to this dispute and provide assurance to the guests and employees of PCMR, and to everyone in the Park City community, that they no longer have to worry about any disruption to the operation of the Resort. This has been a difficult period for everyone involved and I commend John Cumming and Powdr Corp. for helping to find a solution to this situation," said Rob Katz, chairman and chief executive officer of Vail Resorts.

"Park City Mountain Resort is one of the most spectacular mountain resorts and iconic brands in the ski industry and I am proud to have the resort become a part of Vail Resorts. The acquisition will allow us to immediately bring Park City Mountain Resort onto the Epic Pass, which will now offer skiers from across the country and around the world access to 22 resorts. We look forward to working collaboratively with the entire Park City community, as well as city and county officials, as we chart the future for the resort, including how we can best bring the Canyons and Park City ski experiences together to create the largest mountain resort in the United States," he added.  

Mountain operations of PCMR and Canyons will remain separate for the 2014-2015 ski season. However, the Epic Pass and Epic Local Pass will be valid at PCMR. All PCMR passes for the 2014-2015 ski season will continue to be honored and can be exchanged or upgraded for a season pass that will also be valid at Canyons. The majority of all lift tickets sold at either resort will be valid at both PCMR and Canyons.

 

Canyons in the News

Patrick Meek:
Ultimate Weekender, 
HHonors Team Member and Sponsored U.S. Olympic Athlete

Speed skater Patrick Meek, is not only an U.S. Olympic hopeful but a team member at the Waldorf Astoria Park City. He hasn't taken much time off the ice recently in his preparations for the Sochi 2014 Olympic Winter Games and the Waldorf Astoria Park City has worked around Patrick's speed skating schedule to help make his Olympic dreams come true.

 

Canyons Golf Course making headway

 Completion expected by September 2014
 Aaron Osowski, The Park Record

  

 

 

 

It has been a much-delayed project through a development process that occurred over a decade ago, but at long last completion of the Canyons Resort Golf Course is expected in less than a year's time.

The 6,256-yard, par-70 course designed by Gene Bates and the Bates Golf Design Group will feature over 1,000 feet of elevation change. According to Guicho Pons, Officer with TCFC Finance Co., the course is expected to be completed by Sept. 30, 2014.

"[The course] was part of the original SPA (Specially Planned Area) agreement in 1999 and for whatever reason it was never done," Pons said. "We started construction in June and made really good progress over the last five months."

MVC Construction and Landscapes Unlimited have been contracted in the construction of the course and Pons said that "substantial progress" has been made on 14 holes with rough grading complete on the remaining four holes. Several holes are "virtually completed," he added, except for tees and greens, as the window for seeding closed.

TCFC Finance Spokesperson Todd Burnette said that, since they had to work with predetermined terrain in designing the course, there were challenges involved in construction.

"The challenges in building the course will end up being interesting features for players," Burnette said. "Elevation changes and elevated tees will provide incredible views from the Uinta Mountains to Old Town and all three ski areas."

Pons said they are almost finished with the irrigation systems on 14 holes. There are no irrigation systems on the rough graded holes and the course will utilize what they call a "fertigation" system which allows fertilizer to be applied directly through the irrigation system.

The irrigation system will also feature a computer system that can accommodate different "micro-climates" for the various holes. Pons said that, for instance, the holes on Willow Drop have a different micro-climate than holes near State Road 224.

Burnette calls the course "very unique" and said it has the ability to be a strong driver of out-of-state tourism during the summer, especially for corporate groups.

"There really hasn't been a golf course set up [in the area] to take advantage of large corporate groups," Burnette said.

Dave Dubois, a resident of Sun Peak and president of the Sun Peak Homeowners Association, said he and other residents near Canyons Resort are excited about the completion of the course's construction.

"We're all looking forward to having it completed. The holes look great and the paths seem first-rate," Dubois said.

Dubois did note that those residents near some of the construction have complained of dust being blown by their houses on windy days, so the establishment of green grass will be welcomed by many.

Pons said the course, which has an expected total cost of $25 million, has not received many complaints. The only notable complaints have been related to the rock cuts that have taken place on the hill near the Miners Club and Fairway Springs.

"We tried to minimize the environmental impact of the course. People complain about the rock cuts but don't realize that all of that material that came out was used in the golf course," Pons said.

Crews also employed a rock crushing machine that crushed material to be used as topsoil for holes farther down the hill, Pons said, which minimized the hauling of enormous amounts of material up and down the hill.

"The main thing to note is that we've listened to all of the residents' concerns and addressed [them]," Burnette said. "The vast majority of property owners are looking at this as a very positive thing."

For photos and information about the Canyons Golf Course, visit canyonsresortgolfcourse.com.