April 2009

Condo sales for in town Park City which includes: Deer Valley, Old Town, Aerie, Prospector and Park Meadows areas where down in the number of transactions by 57% compared to 1st quarter of 2008.  The average sold price for the 1st quarter of 2009 for in town condos was $905,656 which was down by 40.2% compared to the 1st quarter of 2008. 

Condo sales for the outskirts of Park City which includes: The Canyons, Olympic Park, Silver Springs, Kimball Junction, Pinebrook, Summit Park and Jeremy Ranch areas where down in the number of transactions by 53.8% compared to 1st quarter of 2008.  The average sold price for the 1st quarter of 2009 for condos in the outskirts of Park City was $479,443 which was up by 0.8% compared to the 1st quarter of 2008.

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Single Family home sales for the first quarter of 2009 for in town area which includes: Deer Valley, Old Town, Thaynes Canyon, Aerie, Prospector and Park Meadows areas where down in the number of transactions from the first quarter of 2008 by 33.3%.  In 2009 there were 12 sold homes.  The average sales price was up by 70.8% compared to the first quarter of 2008.  This unusual situation may have been due to four home sales in the Empire Pass area in which homes were new construction and under contract more than likely in 2008 but construction finished in 2009.  The average sales price was $3,880,429 for the first quarter of 2009.

Single Family home sales for the first quarter of 2009 for the outskirts of Park City which includes: The Canyons, Olympic

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Getting a loan for a Condohotel is very difficult in this current economic climate.  Not all condos are challenging but Condohotels which are condos with a front desk are a major challenge these days.  I am finding that there are some loans available but that the interest rates are very high and in the range of about 8% to 9%.  I find this really suprises buyers who see some very low interest rates being advertised by banks.   Banks not only look at the buyer but they also look at the type of property that the buyer wants to purchase.  Banks look at condohotels as a high risk property.  

If you are looking to get a good deal on a condo in Park City and plan on getting a loan to purchase a condo, then you really need to consider what type of a condo it

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I met with one of the representatives who works for East West Partners which isone of the key developers for new ski in ski out homes and condos at the Village at Empire Pass at Deer Valley Resort in Park City Utah. It's a great ski in ski out project on the best part of the mountain at Deer Valley Resort.  One of their current condo projects is Arrowleaf A and Arrowleaf B. They will be opening at the end of August 2006 a model condo to show the quality finishes that they will be offering in the Arrowleaf Project.  The Arrowleaf Project is located adjacent to the Silver Strike Express Chairlift and the ski runs that take you to the lift. The views are spectacular.  It is also located across the ski run from the Tower Club which is the private ski club for…

Last week my client's condo in Pinebrook just went under contract in 3 weeks. She was completely amazed and thought it might take several months.  There were about a dozen similar condos on the market with none under contract in the last couple of months.  This spring I had become an Accredited Home Staging Professional through StagedHomes.com.  This condo was my first to use my new staging skills and it worked wonders. Staged homes do sell faster in a slower market.  She was also pleased with the price I helped negotiate for her as well.