Fractional ownership for a vacation condo has become a popular option for those looking to purchase a vacation getaway.  The cost of full ownership has risen and requires more responsibility so that is why fractional ownership has become so popular.  

In the popular Main Street area of Park City there is a new ultra luxury fractional condo hotel project that has become a hot Park City real estate product.  It will be a 5-star full service boutique hotel with completion planned for the Fall of 2007.   In this project owners receive  1/8 deeded ownership of a specific condo which allows for 35 days of use per year.  If you decide not to use all 35 days then those not used can be placed in a nightly rental pool.   There is also a space available program in place for those who would like to use more than their 35 days of allocated use. 

Call me at 435-513-2848 if you are interested in more information on this luxury fractional condo project in Park City Utah or email me at julie@bestskiproperty.com.  

The first new full ownership condo project at the Park City Mountain Resort offered in over two decades is starting to take reservations this week for their new luxury condos at the Park City Mountain Resort Village area.  So you enjoy skiing or boarding at the Park City Mountain Resort but would like to buy a full ownership luxury condo, well now is the time.   It will be a unique project with a mountain contemporary theme.  There are only 12 condos in this luxury condo project and of those only 9 will be available to purchase.  They are either 2 bedroom condos or 3 bedroom condos with a community lounge and seasonal check in desk and they can be placed in a nightly rental pool.  This small unique project will also feature a fully equiped fitness center, heated outdoor swimming pool and hot tub, concierge service, private underground parking and dedicated owners storage.  Please Call me at 435-513-2848 or email me at julie@bestskiproperty.com  for more information on this unique opportunity for luxury condo living at the Park City Mountain Resort before the few remaining reservations are gone.  Completion is planned for the Fall of 2007 so owners can enjoy their luxury condo for the 2007/2008 ski season. 

If you are looking to buy a home, condo or vacant lot at one of the newer gated communities or at one of the ski resorts in the Park City area.  You will want to see if there is a transfer tax due upon the sale of the property.  It probably isn’t a deal breaker but it is something to be aware of that exists with many of the new developments in the Park City area. 

For example, at the Canyons Resort area there is a transfer tax that will occur each time a property is sold.  Either the buyer will pay or the seller or they may even split the tax.  At the Canyons Resort Specially Planned area the tax is 2% of the sales price.   This typically affects new projects but may also affect some of the older projects so be sure to check if the condo, home or vacant lot you are interested will incur a transfer sales tax. 

I get this information as early as possible for my buyer clients so they know the whole cost of their purchase and aren’t suprised at closing.  Please call me if you have any questions about buying real estate in the Park City area at 435-513-2848 or email me at julie@bestskiproperty.com.

The other day, I had a conversation with one of the listing agents for the new Dakota Mountain Lodge Condohotel project at The Canyons Resort area in Park City Utah.  He informed me that the Golden Door Spa will be going into the Dakota Mountain Lodge.  There will also be a nice higher end restaurant which is yet to be determined.  The announcement for the Red Door Spa hasn’t gone public yet but I thought it would be a great heads up for my Park City Real Estate blog readers. 

There will be another release of reservations for this great condohotel development  some time in Novemeber.   So contact me soon if this development might interest you so I can help you get a reservation on this great pre-construction project that offers a lot of promise.

Also, the litigation involving the proposed Canyons Resort golf course may have been resolved so construction on the golf course should start in the Spring of 2007.  It will take about two years to complete once construction starts. The Dakota Mountain Lodge will be adjacent to portions of the golf course as well as the up and coming Frostwood Lift.  The Dakota Lodge will provide ski valet services to the lift for guests and owners. 

The Dakota Mountain Lodge will be a great four seasons destination in the future with a fantastic resort spa, golfing, biking, hiking and world class skiing.  The first released units where running around $600/square foot and this next release should be slightly higher due to the Red Door Spa agreement that will be in place with this next release.  Currently the Park City Hotel condos are running around $1000/square foot and the Dakota Mountain Lodge in the future should rival the Park City Hotel with all the amenities it will have.  Now is the time to buy in the early phases for such a promising property investment.  It will require only a 10% deposit till the project is completed.

Contact me today so that we can get the paperwork ready for the next release of units.  With each new release the price will go up so don’t wait and call me today at 435-513-2848.

Whether you are buying or selling real estate in Park City Utah, consumers should strongly consider the advantage of working with a local Park City Realtor who is a member of the Park City Board of Realtors.  Local Park City Realtors have access to more information to better serve their buyer and seller clients.  They are also more up to date on the new developments in the Park City area.  Developers in Park City area regularly invite Park City board members to meetings to discuss their new projects.  There is so much new growth in the Park City area.

The advantage for buyers who decide to work with a local Park City Realtor is their agent’s affliliation with the Park City Board of Realtors.  As a member of the board they have access to the pending sales data and sold sales data besides the current active listings which helps them to better prepare a quality comparative market analysis for the property their buyer clients are considering.  A better comparative market analysis will help the buyer better know the true value of the property which helps their agent to negotiate for the best possible price.   The local realtors are also more informed of the new developments that do not always show up on the Multiple Listing Service. 

The advantage to sellers who decide to work with a local Park City Realtor is again the agents access to more information to better prepare a comparative market analysis for their seller clients.  A non-local agent without the solds sales data may over price or under price a seller’s property.  Also a non-local agent won’t be able to list the property for sale on the Park City MLS.  Most buyers looking to buy in the Park City area are working with a Park City agent who looks on the Park City MLS for available property.  The non-local agent will list on the Wasatch Front MLS so there is some exposure to Salt Lake City, Ogden & Provo agents.  Most local Park City agents subscribe to both MLS services because you can never have too much exposure.

The reason non-local agents do not subscribe to the Park City Board of Realtors or Park City MLS is the cost.  So whether you are a buyer or seller don’t cheat yourself, use a local Park City Realtor who is a member of the Park Ciy Board of Realtors they will serve you better whether buying or selling real estate in the Park City area.

There’s a great new construction ski in ski out townhome project at the Canyons Resort that offers some great value for a ski in ski out property.  These townhomes are new construction with completion to be around Fall of 2007 offering high end finishes and are running in the $600’s per square foot.  That’s a great value for ski in ski out property.  Most other ski in ski out property whether in Park City and even more so in other ski towns tends to run closer to $1000 to $2000 a square foot.   The Canyons is still in it’s earlier stages of development so it’s a great place to buy a ski condo before it is fully built out like Vail Village in which prices are at a premium.  Contact me if you would like information on this project or on any other real estate questions regarding the Park City Utah area.  You can reach me via mobile phone at 435-513-2848 or email me at julie@bestskiproperty.com.

Are you looking for security and privacy as well as a ski in ski out property?  In Park City there are a few options available.  There are options at both Deer Valley Resort a skier only resort or The Canyons Resort Utahs largest ski resort.  Besides Park City being the easiest to get to ski resort community, it also offers some of the best ski in ski out gated communities.

At Deer Valley Resort which was named #1 Ski Resort by Ski Magazine in 2005, there is the Deer Crest community and Bald Eagle community.  The Deer Crest community is a newer gated community offering views of the Jordanelle Reservoir as well as ski in ski out luxury homes.  Because Deer Crest is a newer community the homes are newer with several even underconstruction so you can possibly still choose finishes you desire before completion.  Getting to Deer Crest from the Salt Lake International Airport is a breeze too.  From the Airport to the gate house you will not encounter a single stop light.   Home prices range from about 4 million to 25 million.  The Bald Eagle area at Deer Valley Resort is an older Gated Community located near the Silver Lake area and homes generally aren’t  new construction but very nice with incredible views.  Home prices here range from about 7.5 million to 13.6 million.

At The Canyons Resort, the premier gated ski in ski out community is the Colony.  Here you will find some of the biggest parcels of ski in ski out property in the world.  Some of these parcels are even large enough for an equestrian estate.   It’s a newer community and offers many new construction opportunities as well.  Home prices here range from about 5.8 million to 25 million.

So if you like the gated community setting and would like an easy to get to ski in ski out property then Park City Utah may be the place to start looking.  If you need an agent to help you find your dream ski in ski out luxury home Please Call Julie Olsen at 435-513-2848 or email Julie@BestSkiProperty.com so I can help you find your perfect secluded ski retreat today .

I just met with the Canyons Resort Village Management Association Director the other day.  She over sees the Canyons SPA (Specially Planned Area).  There is a lot planned for in the area and they are just in the beginning stages for this up and coming four seasons village community surrounding the Canyons Resort both at the base and up on the ski hill.  Only 10% of the planned area is currently developed so it is a good time to buy in at the Canyons Village Area.  It will eventually rival ski resort villages such as Vail Village.  But the biggest advantage it will have over other ski resort villages is the easy access from an Internation Airport which is only a 30 minute drive away.  The clients I speak to say that is the #1 reason they enjoy coming out here besides the great ski terrain, weather & snow conditions.  Time is valuable and there are over 100 non-stop flight destinations from Salt Lake International Airport.  My client on the East Coast can take the morning flight in and be on the slopes that afternoon skiing. 

Now is the time to buy in the early stages to get the best pricing and the best potential for appreciation.  Contact me today so I can help you find a home or condo in the Canyons area that might fit your needs.  Feel free to also search on my website for Canyons listings on the Park City MLS at BestSkiProperty.com.  Be aware that many of the new pre-construction projects do not show up on the MLS so contact me so I can fill you in on the pre-construction projects happening at the Canyons.  At the Canyons, there are homes, condos, townhomes & condohotel opportunities as well as ski in ski out properties and luxury homes.

I recently visited the site of the new 5 star luxury condo project in the Deer Crest area of Deer Valley Resort.  It’s a new slope-side ski in out project under construction with a finish date planned for August 2008.   This new condo hotel will offer some of the most opulent amenities of any mountain resort in the world.  There will be an indulgent 17,000 square foot spa with salon and fitness facilities, a ski butler service, a ski “beach” and two resort style swimming pools.  Other amenities will include a ski apres lounge, wine & martini bar and a signature restaurant. 

The condo-hotel will be 11 stories with the top four levels holding the 26 Residences and Levels 1 thru 7 holding the 67 condo-hotel units with lock-off capabilities to optimize rental opportunities.  The condo-hotel units’ price includes furnishings and they can be placed in their rental pool.  The Residences will have their own seperate elevator from the condo-hotel units and will not be furnished to allow for individual decorators to come in to personalize the space.  The Residences will be exclusive and nightly rentals will not be allowed in this more private area. 

Please Call Julie at 435-513-2848 or email her at  Julie@bestskiproperty.com  if you are interested in more information on this amazing 5 star ski in ski out condo hotel at Deer Valley Resort before they are all gone.

The new Dakota Mountain Lodge Project at The Canyons Resort in Park City Utah had an initial first release for reservations a couple weeks ago.  It’s a condohotel project consisting of 170 whole ownership condos.  It will be located by the upcoming new Frostwood gondola and next to the proposed golf course at the Canyons Resort.  A great opportunity for an all seasons condohotel close to skiing and eventually golfing.  The Dakota Mountain Lodge will have a check in lobby, valet service, a state of the art spa and fitness center, year round outdoor pools and a full service restaurant.

You can get your best pricing on most new projects at their first release.  A couple of weeks ago the developer released 40 units for The Dakota Moutain Lodge’s first release of reservations and within a day had reservations for all 40 units.   With each new release of reservations the price typically goes up.  If you are interested in getting involved in the next release please contact me so I can help you get into this great new pre-construction project at the Canyons Resort in Park City Utah.