Park City investment property

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...

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 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...

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...

Busy Park City Households and Home Showings Can Mix!

Busy Park City Households and Home Showings Can Mix!

 

Selling your home quickly and for the highest price possible demands that the Park City  showings be proactively appealing: that is, more than just a passive display of the residential “merchandise.” To make the most of the advantageous situation that any showing or open house should be, both you and your Realtor® must adopt the approach of any successful salesperson—namely, being certain every potential customer is shown the best aspects of the product. When it comes to Park City Ut home showings, that means staging and making your home available to view. 

Most of the advice you’ll read about staging follows the same general formula: organizing rooms; maintaining exterior landscaping; updating aged features; eliminating clutter. What’s sometimes missing from those guides is a practical problem: a prescription for showings when the home in question is currently housing a family busy with schoolwork, after-school extracurriculars and full time professional obligations—in other words, modern life!

Say Yes to your Park City Ut Realtor's showing requests! You can't sell your home if buyers can't see it. 

No matter how unlikely it might seem, for families whose schedules are already overloaded (and then some), proactive showings are indeed possible! Here are some of the proven ways busy families keep their Park City Ut homes in peak shape:

 Neutralize Décor: To maintain a home livable for a busy family at the same time it’s ready to display requires muting some of the practical as well as decorative elements. It’s a delicate balance that means first removing idiosyncratic design elements, then also keeping as many personal items as possible out of sight but readily accessible when needed....

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...

Gains in Park City Ut Real Estate nowhere near 'Bubble' level

Gains in Park City Utah Home Prices

Nowhere Near ‘Bubble’ Territory

 

For the past two years national home prices have risen sharply, which might lead to the conclusion that they are overpriced. In fact, if we’re to believe the most recent report by real estate website Trulia, they are still 5% undervalued when measured against long-term fundamentals. So will this summer’s home prices in Park City  be broaching unsustainable levels—or will they be reasonable?

The Problem of Measuring Only Home Price Increases

Real estate price increases by themselves are poor indicators of over- or undervalued real estate. Because of the headlong drop in real estate prices in 2007, throughout most of the country, prices have increased significantly without approaching the previous highs. A well-publicized example is in Las Vegas, where prices have increased by almost 60% over the last couple of years, yet by many yardsticks remain affordable. Park City neighborhoods are hovering in the pre-bubble prices with a few exceptions. 

How Home Affordability Is Measured

There are a number of different ways of measuring whether home prices in Park City Ut could be considered to be over- or undervalued. They include looking at how current prices compare with long-term trends; how prices measure up against average incomes; the comparable cost of renting, etc. The Trulia report used a wide range of these indicators to emerge with a complete picture of the affordability of real estate across the country. Not all research confirms Trulia’s assertion. According to the Fitch Sustainable Home Price Model, national prices are overvalued by something like 15%. Critics note, however, that the Fitch model is distorted by prices in some of the markets selected – particularly California....

Buying a Home with no Disclosures - caution

Energetic Due Diligence for a Bank Owned Property  Vacant in Park City Utah 

 

Suppose that in the course of buying a home in Park City, your eye is drawn to a bank-owned home,a home held in a trust, or a second home. There are many reasons why you could find yourself buying a Park City or Deer Valley home that’s currently vacant—which can also mean that the usual owner disclosures are not to be had. There are perfectly innocent reasons why this situation develops. Suppose the sellers of the property have just inherited it. How would they know that water tends to pool under the house during a strong rainstorm? Or that unpermitted repairs were made to the electric wiring in the kitchen? 

If thoughts like these cause beads of sweat to pop out all over your forehead, don’t fret. This summer we can find you plenty of alternatives in Park City’s traditional housing market. But before you automatically pass on a vacant home because of unknowns in its history, you should know that, with due diligence, you can still end up with a home that is worth your money and a safe place to live!

When you consider a vacant home, the most reliable information will come after you’ve arranged an inspection.

The inspector’s report will let you learn what you’re getting into before you buy—and whether it’s in safe and livable condition. Most homes that fall vacant due to circumstances like divorce or a move are well cared-for and in decent shape; others, long abandoned, are more likely to have fallen into disrepair. Without any owner disclosures, you’ll be on your own to discover potentially major issues like leaking pool equipment or pest problems.

Even after you’ve had a thorough inspection, there is still a good chance you will encounter at least some surprises. There are some elements of a home that can’t really be properly inspected—like...

Park City Rental Property Investments - Rentals in High Demand

Park City Ut. Rental Property Investments

They’re Out There and They're in High Demand!

 

 When any investor first begins to mull over the idea of acquiring a rental property in Park City Utah  it’s usually in competition with an array of other investment types—each with its inherent plusses and minuses. Some of them are new ideas (new technology company stocks; new forms of commercial exchange)—but real estate is definitely not one of those. It may not be innovative, but being a landlord has always been one of the leading sources of passive income.  

Right now long term rentals are in high demand in Park City. 

What is exciting about rental property is why it has always been recognized as a sound investment. When the income from a Park City  rental property is able to pay for its own underlying mortgage, it self-propels its growing equity. The rental property’s investment value grows as the loan is paid down month by month, year after year. Added to that is any appreciation in its market value.

And with the best Park City rental property scenario, when rental income exceeds mortgage and other expenses, it will even throw off an extra income stream.

Needless to say, choosing the right rental property in Park City is worth the effort! Much of that effort involves making a serious effort to map out and project values, income and expense:

  • Neighborhood: Consider how the overall desirability of the neighborhood is likely to affect its appeal to tenants. Are there attractive amenities like parks, shopping and entertainment venues? What do the local classified ads reveal -- is the area’s vacancy rate high or low? How do rental prices compare with adjacent neighborhoods?
  • Project Ancillary Expenses:  Determine the historical property tax rates, and what future rate changes...

Silverado Lodge new listing!

Silverado Lodge at Canyons Resort Park City Utah

Newly listed Silverado Lodge Studio

Fully furnished newer build in Canyons Resort complete with fabulous ameneties.

Pool with Spa,  Fitness room, Steam Room everything you could want in a resort property!

Great way to break into the Park City market at the growing Canyons Resort.

Call me for a showing! 

Heather Feldman

Equity Real Estate Luxury Group

435-731-0803

 

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