Park City Historic Old Town

Does the Realtor you found on the internet sell in the area you are looking?

Does the Realtor you found on the internet really sell in the areas they say? How to find out and save yourself huge disappointment. 

You are like many internet searchers out there. You do a reasonable amount of searching - you research the area, the activities available, the schools, parks, property taxes, maybe even the restaurants. You even research to find the Realtor that looks to be the best for your needs. Their website says they serve your area...but do they?

There are no internet police determining whether Realtors actually have sold real estate in the areas they claim to service.

When Realtors create their websites they choose certain cities they clain to service. There are no internet police determining whether they actually know the areas , have made any sales in the areas or for that matter have ever even visited the areas they claim to service.  

 

I've seen it time and time again. Especially here in Park City Ut with America's Largest Ski Resort, Park City Mountain Resort. Realtors all over Utah have Park City on their list of areas they service. They want to sell that expensive home here just like the local Park City agents do. There's one problem - not only do some of these agents live 30-70+ miles away, they do not know the areas nor the neighborhood nuances. Most have never sold a home in Park City or Deer Valley and many of these Realtors do not even have access to the Park City MLS. 

I wish there was a little more truth and integrity in this industry. But until there is, the onus is on you, the buyer or seller to ask the right questions.

Asking questions can help ferret out the real local Park City Ut ( or any area) Realtors from the posers.

Here are a few questions  you can ask to help determine whether the Realtor you see online that looks so great is for real or just hoping you won't know the difference.  

  1. Ask them to...

Costly Mistakes Greedy Sellers Make

Greedy Sellers make costly mistakes

I see it every day. Our Park City Market is looking good. Really good. Homeowners decide it's time to take their equity out of their property and move up ..or down. Awesome idea, Right? 

Here is where the problem comes in - they see the home down the street sold for $xxxx. Wow. That's a great price. Mine must be worth $xxxx plus another $100,000. Maybe, but probably not. 

I am all for pushing the limits so sellers leave NO money on the table...

I am all for pushing the limits so sellers leave no money on the table, but there are limits to what the buyers will swallow. Say a home on your street of similar size, similar lot size was recently upgraded  and sold for $500 per sq ft. about a month ago. The market continues to increase, and your seller thinks that even though their home is not quite as nice and maybe their location is not quite as good, they want to list theirs at $600 per sq ft. Really? 

Most buyers have been watching the market via the internet or in person and know exactly what the house down the street looked like. They will have a hard time paying much more for your home even if it is of the exact same quality let alone if it is lesser quality. 

Don't make this costly mistake. Remember the old "Bird in the hand" adage? In theory this buyer is already excited about your neighborhood or they wouldn't be watching it. Buyers will wait until a better value comes along and grab that one. Don't get greedy and they will realize yours is a great opportunity and not an overpriced mistake. 

Want to know what your home is worth in Park City Utah? Call me today!

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Park City Utah Prices are Rising and Market Statistics

PARK CITY UTAH 2015 YEAR END REAL ESTATE STATISTICS

Park City, Utah – January 26th, 2016

Summit and Wasatch County property prices rise at a steady market pace in 2015

At the end of the fourth quarter of 2015, the year-end statistics reported by the Park City Board of REALTORS® indicated a slow but consistent annual increase in both the number of closed sales and the median sales price for single family homes, condominiums and vacant lots in Summit and Wasatch Counties.The total dollar volume for 2015 was up 10% over 2014, reaching $1.85 billion, with single family homes sales accounting for the highest dollar volume by property type.

Single Family Home Sales

Within the City Limits (84060), the median sales price of a single family home was 17% higher than the year before, reaching almost $1.52 million, but the number of closed sales decreased by 12%.

By neighborhood, Old Town had the highest number of closed sales with a total of 52 with a 6% increase in median sales price to $1.31 million. Thaynes Canyon had the highest jump in median sales price – up 46% from 2014 to $1.82 million with a total of 11 closed sales for the year. Park Meadows had seven fewer sales than last year but the median sales price was up 11% to $1.44 million. In Prospector, the median sales price increased 6% to $740,000, but there were only 11 closed sales for the year (down 39%), which demonstrates how low inventory of active listings can affect the number of sales in certain neighborhoods.

“Higher median prices of homes within Park City Limits and lower number of unit sales is reflective of demand outpacing inventory."

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Park City Utah - Sundance Film Festival 2016

SUNDANCE FILM FESTIVAL 

PARK CITY UTAH, JANUARY 21-31

Yes, it's that time again. The star studded Sundance Film Festival is a fabulous opportunity to step out into Park City, looking and feeling expensive and luxurious to part in first run movies, movies by new directors and writers and storytelling like available nowhere else. Is there an Oscar Winner out there? Maybe. But you'll never know if you don't watch. Don't forget to attend the parties too!

I'm not a movie afficianado,  I had chose one movie in each category I would like to see. Not necessarily for the artistic value but just because. 

See below for links to the different Sundance Film Festival 2016 categories AND movies that look interesting...

US DRAMATIC MOVIE GUIDE

Goat - Just on the name you have to wonder if it's worth a watch, plus Nick Jonas is in it!

US DOCUMENTARY MOVIE GUIDE

Bad Kids - One person making a huge difference in kids lives

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Park City Ut Old Town New Construction - take a sneak peek!

Park City Old Town's New Construction is on fire!

New construction homes are few and far between. Take a sneak peek of 908 Woodside. This soon to be listed ski home is only 120 yards to the Town Lift run that takes you to the largest ski resort in the USA, plus an easy walk to Park City's Historic Main Street. It has everything you could ever want! 

View from the Rooftop Deck

This Old Town New Construction home will feature:

5 bedrooms, 4 baths

Sleeps 12

Modern clean lines with a warm feel

FABULOUS ROOFTOP DECK!

Stainless Steel Viking Appliances

Fully Furnished with design by CCG Howells Interior Design

1 Car Garage

Air conditioning

Audio system

Entertainment room

French Oak floors, Reconstituted Walnut cabinets ( very cool)

Granite and Quartz counters throughout

Owner/Agent

Front of home showcasing the heated driveway

Stainless steel tile accent in Bunk Room Bath.

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Park City Utah and the 'Vail Effect'

Park City, Utah, Real Estate and the "Vail Effect" Has it changed our town?

This morning I saw a story KUTV posted  about the concern of Real Estate prices rising because of  "Vailienation" - meaning Vail's coming to town has caused Real Estate prices to rise and has priced out many of our locals. The story brought out quite a few negative comments about the growth. 

Yes, Vail coming to our ski town has changed things. Park City Utah is different from when I moved here 9 years ago, but it was also different in 2006 than it was when I first skied here in 1978 too. Growth happens. Anytime you have a super desirable place to live, people find out about it and it changes. 

Anytime you have a super desirable place to live like Park City, people find out about it and it changes and grows. 

Talk to your parents and grandparents about how things were at the beaches in California  20 or 30 years ago. My husband's parents tell stories of how they could have purchased land at Jamboree and Pacific Coast Highway - prime land in Newport Beach-  for $49,000 in the 70's when it was an orange grove. Things change. I grew up in Las Vegas back in the day where the Mob ruled, traffic was light and the town was relatively small. Not the same place it was when I lived there either. Things change. 

Has it really changed our real estate values? Sure. Areas that are close to the resort like Old Town in Park City proper or The Colony at Canyons - now known as Canyons Village at Park City, Park Meadows and a few more have really jumped in the last year or so and you will find homes in those areas valued at $100,000,000 to upwards of $500,000,000. But, did you know that homes under $500,000 are still available? Condos are available under $300,000? You may not be able to walk to the lift, your drive to the resorts may be 6-10 minutes. 

Do you realize what that means...

Park City Mountain 2015/2016 Preview video

Exciting to watch history unfold here in Park City. 

Big changes at Park City Mountain Resort for 2015/2016

season. 

Call me to view properties in Old Town Park City - Get your piece of history now. 

Heather Feldman

435-731-0803

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Park City 4th Quarter Real Estate Stats


January 23, 2015
For further information, contact Park City Board of REALTORS®

Park City, Utah – January 23, 2015 – Highest 4th Quarter sales since Q4 of 2005 with inventory at a new low

Though the total number of closed sales, including single family homes, condominiums and vacant land, within the Greater Park City Area at year-end was slightly lower than 2013, total dollar volume was 8.7% higher and the median sales price was 5.5% higher, according to the Park City Board of REALTORS®. Led by a spike in condominiums sales, the number of closed transactions across the Park City MLS in the fourth quarter of 2014, marked the highest number of fourth quarter sales since 2005.

Condominium SalesThe big news of Q4 was the huge jump in number of pended sales in October creating a rush of closed sales in the last quarter of 2014, culminating in a 49% increase over 2013. The number of condominium sales for the entire market area at quarter end was 808, which is 10% higher than last year’s number. Condominium sales in Park City Proper bounded ahead of last year’s number, as well in Q2 and Q3 of this year, to end 2014 with 376 sales – up 6%. The median price of $542,450 was 5% higher than last year’s number.

By area, Old Town had the highest number of condominium sales at 166 – a 6% increase – with a median sales price reaching $390,000. Board President, Nancy Tallman shares, “There was a definite uptick of 4th quarter condominium sales near the base of PCMR. We can't be sure whether this is the so-called ‘Vail Effect’ or just the settlement of the lawsuit and the certainty that the resort would be open this season. Whatever the reason, the sales speak for themselves.” Two other areas of interest include Empire Pass with 37 condominium sales, up 68% from last year, with a median price of $2.8 million, and Park Meadows which dipped 13% in the number of sales but soared...

6030 Mountain Ranch Dr, Park City Utah

6030 Mountain Ranch Dr, Park City Utah 84098

Upper Mountain Ranch with breathtaking, unobstructed views of Canyons ski resort.  Beautiful architecture with a family friendly  floorplan while offering rustic but luxurious finishes.  Wonderful entertaining home with large great room, front deck and rear patio. Theatre room in the expansive lower level with billiard room, wine cellar and wet bar.  5 bedroom, 4.5 baths , with two office/flex spaces.  Designer features include Wolf appliances, hardwood floors, massive great room stone fireplace. Granite and a generous use of stone throughout with bronze and glass tile accents.  Trails right outside your door. Minutes from all 3 ski resorts.  Buyer to verify all information to their satisfaction.Call me for more information

Heather Feldman

Equity Real Estate Luxury Group

435-731-0803

Heather@ParkCityHouseHunters.com

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Buying a Home to Renovate Can be a True Bargain…or Not!

Buying a Home to Renovate Can be a True Bargain…or Not!

 

For many decades, Hollywood has made box office gold creating comic films about the hilarious possibilities that nightmarish house remodels present: from Mr. Blandings Builds his Dream House to The Money Pit (and even Under the Tuscan Sun), audiences delight in the shifty tradesmen and rotting timbers that define the genre.

If you’re an energetic Do-it-Yourselfer without much remodeling experience, Job One is to gather professional opinions to minimize the likelihood of costly discoveries. But before you even get that far, there are some general concepts that veteran turnaround investors know. These are disqualifiers that make it much more likely that buying a home in Park City Utah will be a shrewd investment instead of dollar demolisher.

 Bad house, bad neighborhood

Is it worth buying a fixer-upper in a rundown or otherwise somewhat undesirable neighborhood? It can be tempting—especially when the asking price makes buying such a home a seemingly unbelievable value. But ignoring the ‘location, location, location’ truism is risky business. In many cases, such an investment may yield a diamond in the mud—a renewed structure that will never rise in value until the whole neighborhood rises in value (which could be never). Safer choices will be found in neighborhoods that don’t need remodeling themselves.

Bad house, good intentions

Buying a home in Park City Ut—especially when the neighborhood is fine and the price is more than right—can give rise to overly emotional decision-making. It can be tempting, when a property is almost okay, to make an instantaneous decision…but if you find yourself making excuses for this or that drawback, or finding yourself indulging in a bit of wishful thinking here and there, take a breath! Hopeful eyes may easily transform to fixer-uppers...

What is the first impression buyers get of your Park City for sale home?

What impression is your Park City Ut House for Sale Sending? 

 

You never get a second chance to make a first impression.

It’s a saying that job applicants (at least the successful ones) take to heart. It’s why a lot of serious primping goes on before a blind date. It’s why movie directors spend as much time as it takes to light and prepare the first shot that will introduce their lead actress. And if you’re going to have a house for sale in Park City this summer, it’s why it’s worth it to take pains to make its first impression as strong as possible.

Making any Park City house for sale’s debut a success doesn’t have to break your back or your bank account. Here are some simple, affordable projects that can be done in a single weekend:

Update Exterior Lighting

For prospective buyers whose first look at your house for sale comes in an evening drive-by, exterior lighting plays a leading role. If your lighting setup is more than ten years old, you may be able to do a quick transformation by replacing outdated fixtures with stylish new ones. If twilight showings are likely, consider adding a lighted path from driveway to door.

You've got to get them in the door to sell them on the features of your Park City Ut  home.

Warm Up the Front Porch

There’s an emotional component that goes into making a house for sale—one that’s truly “inviting.” Often, the key factor is whether prospective buyers can easily picture themselves and their family enjoying an afternoon or evening in the place. Think about whether investing in a few pieces of attractive, comfortable-looking outdoor furniture you could place on the front porch (or other outdoor space) could help buyers picture themselves enjoying a leisurely after-dinner conversation…and...

SUMMER EVENTS IN PARK CITY UT

Summer fun in Park City Ut

Looking for lots of great things to do this summer? Check out the links and video below and go have fun!

Spend the 4th of July in Park City!

FRIDAY, JULY 4, 2014

7:00 am • Pancake Breakfast in City Park
$7 adults, $5 kids 12 and under.

8:00 am  • Cole Sport 5k Mountain Fun Run
Pre-registration until 5 p.m. on July 3
MORE INFO & REGISTRATION

11:00 am • 4th of July Parade • Main Street, Park City
Famous 4th of July Parade with over 70 floats celebrating Park City's Historiy


10:00 am - 9:00 pm  • Celebration in City Park 
Rugby games, live music, Rotary BBQ, beer garden, and children's activities at...

Park City Mountain #50 Skiers Subway

Park City Mountain's 50th Anniversary

Imagine riding a rail car up a mining tunnel after waiting up to an hour just to ski!

Watch this video detailing Park City Mountain's lift system of the past. 

Contact me to live the dream in Park City or Deer Valley

Heather Feldman

435-731-0803

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Park City's Best Neighborhoods, Old Town

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.

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