All Blog Entries by Joel Rosenfield

I moved to Park City full-time 2010 after being a frequent visitor. I now own and manage several long-term rental properties in Park City.  In 2015, I joined my wife Julie Olsen as a Real Estate Sales Agent after a nearly 30-year career as a Computer Engineer. I grew up and attended college in Ohio before moving to New England, where I first tried skiing and fell in love with the sport. Before moving to Park City, I lived in the Washington, DC area in Northern Virginia for 20 years. In addition to being an avid skier, I enjoy mountain biking, golf, and going to Park City's numerous outdoor concerts.

There are currently 18 blog entries published by Joel Rosenfield.

 

I'm not one to overhype things, but we have had a ton of snow so far this season. After a big teaser storm in early October with the remains of that still on the upper elevations, we had a series of storms over Thanksgiving weekend and just concluded another storm cycle a couple days ago. Park City Resort has already opened about 1/3 of their terrain, and they've been opening new terrain every day. The snow is cold and skis great, both on groomed runs and off-trail. Deer Valley opens for the season on Saturday and should have similar conditions. 

I got lucky on Monday and got to the top of the Tombstone chair on the Canyons side right when they dropped the rope for the first time this season, and I got to ski 2 feet of virgin powder. Can't say

343 Views, 0 Comments.

 

 October in Park City, what a difference a couple weeks makes! 

I've been meaning to write an update in market conditions for some time, but the answer today is the same as it's been for a few years. Prices continue to steadily rise, inventory is still low. Most values have exceeding their pre-recession highs, but some have not with differing conditions in different developments. Modern finishes continue to command a premium, and there continues to be a considerable amount of new construction. 

 Construction continues in Upper Deer Valley and Empire Pass with Goldener Hirsch Residences coming along and Empire Residences has started committing to purchase contracts. One Empire Pass is now complete and is spectacular with very few units left. At

527 Views, 0 Comments.

A lot of our clients like to track our weather from wherever they live, and I don’t blame them – I used to do it myself before I lived here.  He’s how I follow storms and what to look for in weather.  Things can be different here in the mountains, so here some things I’ve observed living here. As with all weather, storm prediction is kind of a crapshoot; a great forecast can fizzle out and a weak forecast can strike gold. But these sites at least put some parameters around our hopes and expectations.

There are a lot of choices for information, but my go-to source is OpenSnow Utah, written by Evan Thayer. He offers a concise daily forecast that can be a bit technical, but is worth the effort. The website has a lot of information like 10-day outlook

962 Views, 0 Comments.


Many of our clients are interested in buying Park City real estate as an investment. These properties fall into two main categories: long term tenants and nightly (vacation) rentals. For nightly rentals, my rule of thumb is that if you pay cash and don’t use it yourself, after expenses a typical return on investment in Park City is about 2%. I’ve found this figure to be remarkably consistent across a broad range of properties, from fractional ownership at the Grand Summit in Canyons Village to luxury condos in Empire Pass at Deer Valley. With limited owner use, this is often enough to defray your carrying costs. You may do a bit better with a full-time rental property, but of course you wouldn’t be able to use it yourself.

As an investment

1,186 Views, 0 Comments.

Overall, sales prices are up about 10% in 2015 over 2014 and price per square foot is up 7%.  There are basically no more bank-owned or short sales available, and if one exists there is a likely a serious problem with the property that makes it unmarketable.  We see demand from all types of buyers – primary homes, second homes, and investors for both long-term and short-term rental properties.  There are new developments both under construction and in the works in most categories – primary homes, condos, and second homes and condos at the resorts, in private communities, and in Old Town. In Old Town in particular, many historic homes are being underpinned to add square footage and modern features while preserving the historic exterior.

The numbers

1,800 Views, 0 Comments.

 

Good question, and there are several answers!  There is Old Town, Park City proper, the Park City school district, those areas with a Park City mailing address, and the Park City “area”.  People within each of these areas often consider themselves to live “in Park City” (me included!) though some people may disagree what areas should be counted as being within Park City. 

When many people think of Park City, they think of the old mining town area of Old Town and also the ski resorts. Others think of “Park City proper”, the incorporated city in Summit County, Utah , that has about 8,000 year-round residents.  It is comprised of the area ranging from Deer Valley to the south, Park City resort to the west, the McPolin Farm White Barn and Park

1,158 Views, 0 Comments.

It’s a great time to visit Park City and Deer Valley resorts from now until they close for the season on April 10, 2016.  Now that we’re past the Daylight Savings Time change, the sun sets after 7:30pm and so you can have to best of both worlds of ski season and shoulder season – ski all day, and still have time to check out properties for sale!

Even if where you live the snow may have melted and flowers have started blooming, there’s still plenty of great skiing here in Park City.  Spring is coming here too, but not so quickly.  As we transition into April, crowds start to die down and it’s easier to find lodging.  And since lodging is easier to find, nightly rental properties are easier to get into to view as well.

When it comes to the quality

1,444 Views, 0 Comments.

Do you think issues such as development, affordable housing, and traffic are the hottest topics in town?  Think again -- the hottest topic is when and where dogs can go off-leash.  Dogs must be leashed at all times in both Park City and Summit County except in designated dog parks, but those laws were routinely ignored by many who want a large area for their dogs to run around. There have been some unfortunate incidents of off-leash dogs attacking people, other pets, or wildlife and this has galvanized both the off-leash and on-leash sides of the discussion.

Park City Council recently changed course and allowed off-leash dogs in two areas where dog owners had often let their dogs run off-leash anyway: the grassy area near the library on Park Ave. and

1,568 Views, 0 Comments.

Yes!

Although our laws have some quirks, you definitely can walk right into a bar and say, "I'd like a Maker's Mark on the rocks, please" and that's what you'll get. Glass of wine with dinner? No problem. Beer with lunch on the slopes? Sure thing. If you want a particular mixed drink, my suggestion is to just ask your bartender or server what they can do for you.  They know what can and can't be done under the law.  It can get complicated; I'll try to summarize what you need to know and skim over the rest. If you want to know more, don't hestitate to reach out to us in comments, email, or give us a call!


Flight of sake at Shabu on Main Street

This is one of the most common questions we get about visiting and living in Park City. We understand the

2,958 Views, 0 Comments.

It's finally here!  In addition to access, the gondola provides new spectacular views of the region.  Looking back toward the Park City side, you see the King Con runs in the foreground and the Uinta mountains in the background.

Now if you start at the Park City side, you can easily take a couple runs on the Canyons side, maybe have lunch at the renovated Cloud Dine on the top of the Dreamcatcher and Dreamscape chairs.  Just in case you end up on the "wrong side" at the end of the day, there's a dedicated bus that will take you back to where you started.  That's in addition to the free Park City bus service.

NOTE to beginners: there are no green runs on the Canyons side beyond the terminus of the gondola.  However, on a bluebird day like

1,486 Views, 0 Comments.