Greg Cutt, President of I-Net Mortgage in Park City, Utah, sent me a great article about why it is a good time to buy a property right now.  I thought I would share his wisdom with others....... A Good Time to BuyWith all the negative news about the housing and mortgage industry, many people are waiting to see what happens before they make a decision to purchase real estate.  However, the time is right to purchase property now.  There are three reasons why the time is right.Interest RatesInterest rates on mortgages have fallen substantially over the past 30 days.  Rates on conforming 30 year fixed loans ($417,000 and below) are 5.25%.  Rates on Jumbo loans (amounts above $417,000) are also very good.  For example, the rate on a 7 - 1 Jumbo Adjustable Rate Mortgage is currently 5.25%.  ... 01/24/2008

Located at the top of the Jordanelle Gondola in the Deer Crest area of the Deer Valley Ski Resort, SKI Magazine along with Resorts West and Deer Valley Resort have teamed up to produce a fantastic ski home. This is much more than a little ski chalet for weekend getaways. The home features 6 bedrooms and 10 baths spread out in a space of over 13,000 square feet. I know that this number sounds huge, but the builders and designers have done a magnificent job in making this much space seem very live-able. The home is located at 9806 N Summit View Dr in Park City at an elevation of nearly 8000 feet. Access is through the gated Deer Crest community by car, and the ski runs off the Jordanelle Gondola and Deer Crest Lift are right out the door. The outdoor pool/grotto and over-sized hot tub hav... 01/18/2008

The Park City Board of Realtors statistics for the full year of 2007 indicate that Gross Sales Volume totaled $2.0 Billion, an increase of 2% over 2006, with prices up 22%. Unlike sales in other parts of the country, 2007 was the second best year on record for Park City real estate sales barely trailing 2005. Park City remains a “Best Buy” when compared to other ski resorts, such as Vail, Aspen, Telluride, or Jackson Hole. Gross Sales for Single Family Homes were $903 Million, down 1% from 2006, however, prices were up 15%. Areas that were particularly strong were Old Town, Upper Deer Valley, Park Meadows, Jeremy Ranch, Glenwild/Silver Creek, and Promontory which all showed increased sales volume and price. Condominium Gross Sales were extremely strong and up 44% to $673 Million, with p... 01/06/2008

Announcing an exciing development in Park Ctiy real estate, the start of three new luxury townhomes on Rossie Hill Drive in the Old Town area.  These Park City homes will be ready for occupancy in the summer of 2008.  The Rossie Hill homes sit on a quiet hillside location.  Convenitenly located off of Deer Valley Drive, Tahoma is an easy walk to Park City's historic Main Street.  These luxury town homes boast majestic Park City mountain views and are featured as Built Green. Built Better homes in Park City. Tahoma will be one of the first development projects in Park City to be certified "green" by Build Green Utah, an organization established to promote energy efficient construction and better building practices in Utah. Build Green Utah was started in 2006 and is fundamentally based o... 11/30/2007

I was driving home today for lunch in 67 degree weather hoping it snows tomorrow. Now don't get me wrong I live for the warm temperatures of our mountain dreamland, and because I play hockey indoors on an ice sheet, I am not as dependent on the white "Fat Flakes" that fall from the sky as most of the residents and visitors around these parts are for their recreational bliss.But, because I am a REALTOR® in a ski town, and visitors equall business, I think it is about time we got the show on the road. Let's face it - we have friends coming to town this week and they would have liked to hit the slopes bfore their turkey dinner. The bad news is they will in all likelihood be dissappointed this year. I was talking to my brother-in-law, Bill Osborne last night about this; the lack of snow and... 11/19/2007

Today is November 16th, and not even a trace of snow is on the ground here in Park City.  You can see just a little bit at the very top peaks of the mountains.  Where is all the snow?  There were previously a few resorts considering opening today, and I think the only one that managed to do it was Solitude Resort, with a 14” base of man made snow and only 2 runs open.    Park City Resort is rapidly making snow, and they still claim that they will be opening on November 21st, the day before Thanksgiving.  Wolf Mountain, Snowbasin, and Brian Head all say that they will open the following day, the 22nd of November.  You can see Ski Utah’s website for updated information at http://www.skiutah.com/ So far, it’s just not looking good!  The 15 day forecast just doesn’t show any snow coming – ... 11/16/2007

Ok - time to get the Hughes Martin Sells Team Blog up and running for good. We are excited about Park City and want to share that with everyone. I last posted in March and shame on me for not keeping up - in the meantime I have looked at other blogs to try and figure this whole real estate blogging out. After much research I think I decided that I better just DO IT! So here goes - the following is taken from our "Realty Times" Market Conditions report dated November 9th, 2007. You can read these market condition updates on Realtor.com - besure to check out our reports on Deer Valley too. Watch for reports on Midway, the Kamas Valley and other areas surrounding Park City.  Park City continues to be a great place to invest in a mountain lifestyle. While national real estate news is soundi... 11/15/2007

If you are looking for brand new, luxurious world-class resort living located in the mountains of Park City, UT at Deer Valley, The Grand Lodge at Empire Pass is your next residence.   This exclusive and exciting community is located in Empire Pass and yes, it provides you with the convenience of ski-in and ski-out access to Deer Valley's Northside Express chairlift and the new "Z" chairlift.  There are only 27 Deer Valley real estate opportunities in The Grand Lodge and with spectacular views of Flagstaff Mountain and of course Deer Valley ski trails at your doorstep, these new residences will not last long.  These Deer Valley homes showcase a fabulous exterior featuring Rustic Stone along with heated patios with grotto spas.  The interiors provide you with extras such as a 48" Wolf st... 11/12/2007

When I first started in Real Estate, I took a lot of time learning about CMA's and how to do one properly to come up with an accurate market value. I used this type of valuation up until the past few months when I started to use an Absorption Rate instead. What is an Absorption Rate? Well to put it simply, it is the amount of homes on the market, the amount of homes sold and the amount of homes listed per month, for a few months to decide how many months of inventory is out there. Do this for several price ranges around the price of the home you are listing to get an accurate idea of how long it should take for your listing to sell at a certain price. Simply put all of this information into a graph, and you will be able to give an accurate idea of how long a home will take to sell at di... 10/24/2007

        The Jeremy Ranch area is a popular family neighborhood for long term residents to enjoy a fabulous lifestyle in the Park City Utah ski community.  It offers a great value and short commute to Salt Lake City.  The Jeremy Ranch neighborhood surrounds the Jeremy Ranch Private Golf Course which is a top rated golf course in Utah.  You don't need to be a golf enthusiast to enjoy this popular neighborhood.  There are also many miles of trails that surround this neighborhood to enjoy hiking and mountain biking out your back door.  Many homes offer some spectacular mountain and ski resort views as well.Third Quarter sales for 2007 in the Jeremy Ranch area were very strong for single family homes.  There were 28 homes listed during the third quarter and 20 sold resulting in 71% of the ho... 10/17/2007

Gated golf communities add an instant sense of community to those new to an area.  So if you are a second home owner and enjoy a social life, then you may enjoy living in one of the wonderful gated golf communities in the Park City area.  This may also be a great place to live for full time residents new to the area as well.  Spending time at the clubhouse or on the golf course is a great way to network and make friends locally.  Many of the newer gated golf communities offer many other amenities besides golfing as well.  In fact, many offer social memberships if you aren't interested in the golf so that you can enjoy the many other amenities they have to offer which include skiing, fly fishing, boating and more.Visit Promontory Real Estate to view all homes and lots for sale in Park Ci... 10/16/2007

      Fall is a great time to buy a ski condo for sale in Park City UtahAre you thinking of purchasing your ski getaway this year?  Fall is a good time to consider looking and buying.  Once the ski season hits it will be more difficult to preview ski condos for sale.  Most ski condos are in a nightly rental pool and are usually occupied with guests during the ski season.  It can be a big challenge getting into see them.  So why not come out this Fall to buy your Park City ski condo and enjoy this ski season in your new purchase.  Also, you will have a better selection to choose from as well as fewer buyers to compete with- better negotiating power.  Lodging rates are very reasonable during the Fall in Park City too.Visit Park City Ski Condos For Sale to search all condos for sale at the... 10/16/2007

Take a Tour of Park City Utah's 3 amazing ski resorts.     People enjoy that Park City has the greatest snow on earth and is so easy to get to.  Visit BestSkiProperty.com to search for all properties for sale in Park City Utah.Visit Park City Ski Homes for Sale to view all the Park City listings of homes for sale at the various Park City ski areas. Visit Park City Ski Condos for Sale to view all the condos and townhomes for sale at the various Park City ski areas.Call Julie Olsen at 435-513-2848 for more information and to find out which ski properties are ski in ski out. 10/15/2007

Here is a great video that will give you a feel for what the Park City Utah area has to offer.     Park City is a great place to live full time or part time if you enjoy outdoor recreational activities year round.Visit Park City Utah Real Estate to find all homes, condos, townhomes and lots for sale in the Park City area.As a Resort & Second Home Property Specialist I can help you find the perfect home in the Park City area. Julie Olsen, ABR, CNE, GRI, RSPS, RealtorJess Reid Real EstatePark City UtahMobile (435) 513-2848   10/15/2007

 The Park City Board of Realtors statistics through the 3rd Quarter of 2007 indicate that Gross Sales Volume totaled $1.5 Billion, a decrease of only 2% from the same period of 2006, prices increased 21%.  This reflects a strong third quarter continuing to make up some ground from the first half. Gross Sales for Single Family Homes were $688M, down 4% from 2006 and prices were up 8%.  However, particularly strong were Old Town, Upper Deer Valley, Jeremy Ranch and Glenwild/Silver Creek, which all showed increased sales volume and price.Condominium Gross Sales were extremely strong and up 43% to $521M, with prices rising 48%. The Empire Pass and The Canyons area had the strongest growth in both triple digit growth and double digit price increases.Gross Sales of Vacant Land (Lots) decrease... 10/05/2007

This is a Blog I have set up in Park City talking about the events of the past week in Real Estate. I will share my most recent post with you now but you can always find this Blog at: http://winutah.com/news/?cat=51 You will notice that our market is still doing quite well.I hear our mountains are supposed to get 9-18 inches of snow in the next few days; I guess summer is officially over. Can't wait to get the skis out this year, it's been several years since I have been on the hill.Check out the following stats for the third quarter. I did a comparison so we can see how we are doing compared to the third quarter of last year.Old Town/Deer ValleySingle Family Homes - 2006 -  We had 98 homes listed and 39 homes sell Average List price was $2,048,647 Average Sold price was $1,974,016  (96... 10/05/2007

      Bear Hollow Townhome Vacation Rental by OwnerLooking for a large place to rent while visiting the Park City Utah area?  Here is a great townhome available for nightly rental by it's owner.  Go direct and save.  This luxury townhome sleeps up to 10 people and offers a private hot tub on the deck to enjoy after a long day on the slopes.       Daily Rates from $250 to $700 USDClick here for more information on this Vacation Rental and to book your stay. If you are interested in buying a Vacation Property in Park City visit BestSkiProperty.com 10/04/2007

Greetings from Park City, Utah. "Has Chicken Little Struck Again or Is the Sky Really Falling?"  The latest UCLA "Anderson Forecast" stated the nation's economic performance was "near recession".  Many of the report's dire predictions were picked up by the media, including: An expected drop in home prices through the end of 2009, particularly in Florida, California, Arizona, Nevada and parts of the Northeast.  Fewer qualified home buyers as mortgage lenders lean towards full documentation, larger cash down payments and higher income standards.  Working families with "middle-of-the-pack home prices and extremely high usage of adjustable-rate mortgages" would be most susceptible to foreclosures. What do these predictions mean for the real estate market in Park City, Utah?According to stat... 09/29/2007

Park City Utah & its surrounding areas offer a great selection of gated golf communities to choose from.     Private gated golf communities have become popular in the ski community of Park City Utah and the surrounding area.  Many offer much more than just golf such fly fishing, horseback riding, biking, hiking  and tennis to name a few.  Several have pavillions at some of the local ski areas and usually provide transportation to the local Park City ski resorts.  These new amenity rich communities appeal to all members of the family with some that even include a clubhouse specific for kids.These gated golf communities include: Glenwild in Park City with a Tom Fazio designed golf coursePromontory in Park City with its Pete Dye & Jack Nicklaus Signature golf coursesTuhaye by the Jordanell... 09/12/2007

Although, on a nationwide basis, the credit markets are in turmoil, the credit crunch is real, market disruptions may occur with lenders struggling during this challenging time, and the next few months will be critical to determine if the mortgage meltdown will result in recession; Wells Fargo Home Mortgage has the resources and will continue to provide the capital to fund Park City real estate transactions. Park City real estate values continue to increase, and there appears to be plenty of resources to support purchases.  All real estate is local and the nationwide headlines do not reflect our current growing market.  Utah has the #1 appreciation rate in the country. To learn more about our real estate and lending market, in addition to the Wells Fargo Home Mortgage Closing Guarantee,... 09/11/2007