Posted by Heather Feldman on Monday, December 9, 2013 at 7:53 PMBy Heather Feldman / December 9, 2013Comment
Park City’s Old Town has a colorful history
and is full of character.
Old Town reflects the rich mining history of Park City, which was incorporated as a city in 1884, eighteen years after silver was discovered in its mountains.
Many of the original commercial and residential buildings still remain, reflecting the Victorian architecture of that era. Main Street in Old Town is known for its great shops, world class restaurants, art galleries and unique character.
You'll see multi-million dollar penthouses on Main Street right next to inexpensive condos. There are spacious ski-in, ski-out homes and small miner’s cottages, right next to homes that are maintained beautifully next to rental properties in need of some love. That’s the beauty of Park City’s Old Town. It’s not cookie cutter subdivision bland. The beauty is in the diversity, the diversity of homes and of residents. Approximately 50% of the homeowners are full-time, the other 50% are either second home owners or investment/rental properties.
Land is at a premium in Old Town. It is hard to find lots to build on - nobody wants to let them go!
From Old Town you can walk to Historic Main Street for dining or shopping. The City has installed stairs at intervals to get you up to Lowell and down to Park Ave. You are in the middle of all the action. Many of the Old Town homes are within walking distance to Park City Mountain Resort for skiing or hiking and biking in the summer.
Prices range from the $200’s for a condo up to $8+ Million dollars for a large home on a large lot. The average home right now is 3-4 bedrooms, 1 car garage, 2000 sq ft and runs between $799,000 and about $900,000.
Posted by Heather Feldman on Thursday, December 5, 2013 at 7:34 AMBy Heather Feldman / December 5, 2013Comment
When is a short sale a good deal?
Short sales are not as plentiful as they once were, so be sure you are willing to undertake this lengthy process.
Short sales can snag a great property for a buyer at a screaming deal…sometimes. Short sales can take months and months before the bank accepts an offer, it can be one of the most aggrivating purchases you can make, and it isn’t always your best deal. If you would like more detailed information about Short Sales, read on…
Buyers make the mistake of assuming because it is a short sale
it is automatically their best deal.
Sometimes they’re right. Many times the seller owes such large amounts to the bank and the bank(s) price the home based on what they are willing to take, not what the current market dictates.
So, in a nutshell here is how the typical short sale works: Seller decides/needs to sell, they owe more on the home than they can sell it for. Maybe they bought at the top, maybe they borrowed against the home – either way their loan is too high. The seller goes through a difficult process to get the bank to agree to allow a short sale Bank agrees to a short sale, home is placed on the market.
Some sellers continue to maintain the home, others do not Short sale homes are sometimes not available to show very easily, or are not listed with the local brokerage ( have to wonder about their motives – to sell it or squat until they are booted out?) Pricing: Most banks won’t tell the Seller or the Agent what they feel an acceptable price is, and it is left up to the agent to list...
Silver Springs is a diverse area comprised of several different neighborhoods all within minutes to the I-80 and the three ski resorts here in Park City.
Ranch Place is a always hot area to buy or sell. Ranch Place consists of single family homes in a community backing to the Swaner Nature Preserve. The homes are typically from about 2500 sq ft up to over 4500 sq ft and most will feature a Mountain rustic look with some open beam work and log accents. The age of the homes varies, most built in the mid 1990’s, and many have undergone a remodel. The homes sit on lots between ¼ and ½ acre. This type of proximity lends itself to a cozy neighborhood feel.
Southshore/Northshore neighborhoods are both situated around lakes available for the residents use along with a lake-side park with playgrounds and picnic areas along with a covered pavilion for gatherings.
South Shore is the smallest single family home community within the Silver Springs area of Park City; containing 82 single family homes. South Shore has a small recreational lake accessible to all residents. South Shore homes...