Great News! 

New Federal Conforming Loan Limit for Summit County… 

$729,750 

Effective April 1, 2008 through December 31, 2008… 

Jumbo Loans are getting harder and harder to do these days with the limited liquidity and more stringent guidelines for lenders. Stated Income loans are just about gone. Credit requirements continue to go up. This is a chance to get into the home you want at the best rates possible.  This can save buyers/borrowers $$ Thousands $$ of dollars per year.  

The new conforming loans are available for:   

• Stated Income to 90% LTV
• 100% financing to $729,750
• Limited review appraisals
• Rates as low as 5.50%
• Lower Credit Requirements
• Higher Qualifying Ratios allowed
• Automated Underwriting and Faster Approvals!
            

Karen Scott
Senior Loan Officer/CPA

1755 Prospector Avenue, Suite 201
Park City, UT  84060
(Cell) 435-901-1026
(Toll free) 877-420-2999
(Office) 435-649-2999
(Fax) 435-649-2919
karen@crescentmtg.com

  

Visit Park City Utah Real Estate to search all listings for sale from all local brokerages.

Now is a great time to consider buying your dream ski home or condo in the popular ski community of Park City Utah.  With the ski season here, sellers who are wanting to sell their ski property have them on the market to sell.  There is a great selection to choose from as well as a some great interest rates. 

Park City offers some great value for a ski community compared to other popular ski communities.  It continues to grow in popularity so buy now before it’s too late.  There are some great new ski condo projects in which flippers are trying to get out of their investment.  I see it as a great opportunity to pick up a great deal on a great property from those who need to get out of their flip. 

As a Certified Negotiation Expert and Resort & Second Home Property Specialist, I would enjoy the opportunity to help you find the perfect property in the Park City area as well as help you negotiate for the best possible price.  I also offer to my buyer clients an attractive Buyer Incentive Program which can help save buyers up to an additional $10,000 depending on the purchase price of the property.

Visit Park City Condos for Sale to search for all ski condos for sale at Park City’s world class ski resorts (Deer Valley, Park City Mountain Resort & The Canyons Resort) or to find all ski homes for sale in Park City visit  Park City Homes for Sale.

Julie Olsen, Accredited Buyer Representative

Mobile: 435-513-2848  E-Mail: julie@bestskiproperty.com 

So you are interested in buying real estate in the popular ski community of Park City Utah but not sure which Park City neighborhood will best meet your real estate desires.  As a Local Park City Realtor and Long Time Resident, I can take you on a neighborhood tour to help you determine which Park City neighborhoods to focus your property search on.  Maybe you are looking for a ski in ski out property at your favorite Park City resort or maybe your family is looking to relocate to the Park City area to raise your kids in a healthy and fun environment.   Please contact me so I can help you find the perfect neighborhood in the greater Park City area.

Visit Park City Neighborhoods to view information on the various Park City area neighborhoods and Park City Map to see where each neighborhood is located.

Julie Olsen, Accredited Buyer Representative

Mobile: 435-513-2848

E-mail: julie@bestskiproperty.com

Website: www.BestSkiProperty.com

One of the popular types of properties that second home buyers are looking to buy in the popular ski community of Park City Utah would be ski in ski out condos.  The Park City area offers a nice selection of ski in ski out condos for sale at it’s three popular ski areas : Deer Valley Resort, Park City Mountain Resort and The Canyons Resort. You can find either condos that are ready to use this ski season or those that are pre-construction projects requiring typically 10-20% down before completion.

Some of the popular areas at Deer Valley Resort you will find ski in ski out condos for sale would be the Deer Crest area, the Upper Deer Valley - Silver Lake area and the Empire Pass area.  At Park City Mountain Resort you will find some condos at the resort center or in the new Silver Star Project.  At the Canyons Resort there are projects at the base area which are currently built or under construction.  The Escala luxury ski in ski out project at the Canyons Resort will be ready for the 2008/2009 ski season. Ski in ski out condos will cost more than condos that are a short walk or drive away.  Typically ski in ski out condos will start at around $700 per square foot and can go as high as $1800 per square foot.

Julie Olsen a Park City Resort and Second Home Property Specialist can help you find the perfect ski in ski out condo.  Contact her so she can send you a list of condos for sale that are ski in ski out at your favorite Park City ski resort.

Mobile: 435-513-2848   &   E-Mail: julie@bestskiproperty.com

Visit Park City Ski Condos for Sale to view all ski condos for sale in the Park City area which include ski in ski out condos and those a short walk to the ski lift.

Infomation on Condominium sales for October 2007 in the Park City Utah area.

• 55 condos sold
• 630 active condo listings
• Average sold price was $952,299
• Average sold price was 97% of the list price
• Average Days on Market for sold homes was 175 days

Compared to October 2006 there was 20% increase in the number of condos that sold and the average price for sold condos rose by 60%.

*data obtained from the Park City Utah MLS

Visit Park City Ut Real Estate to search all condos and townhomes for sale in the Park City area.

Infomation on Single Family Home sales for October 2007 in the Park City Utah area.

• 35 homes sold
• 468 active home listings
• Average sold price was $2,024,292
• Average sold price was 95% of the list price
• Average Days on Market for sold homes was 152 days

Compared to October 2006 there was 35% reduction in the number of homes that sold yet the average price for sold homes rose by 57%.

*data obtained from the Park City Utah MLS

Visit Park City Utah Real Estate to search for all homes for sale in the Park City area.

The new Lookout at Deer Valley Development offers the next best thing to ski in ski out for a new construction luxury second home at Deer Valley Resort.

I recently visited the Lookout at Deer Valley planned unit development.  It is a great option if you are looking to purchase a new construction vacation home at Deer Valley Resort.  They offer both free standing homes as well as twin homes ranging in size from about 4300 square feet to 6200 square feet with 4 to 5 bedrooms.  Prices start in the low $3,000,000’s. The price per square foot for these luxury new homes are about $200 to $400 per square feet less than comparable ski in ski out homes at Deer Valley Resort.  The Lookout at Deer Valley has a club house with an onsite concierge and shuttle service for owners and guests.  It offers the next best thing to ski in ski out because of their convenient shuttle service for owners.  They can pick you up at your Lookout home and drop you off at the ski lift as well as pick you up.  Besides offering a ski shuttle service they will also take owners and guests to and from the Main Street area so they can enjoy a wonderful dinner at one of the many great Park City restaurants.

There are some units that are available for occupancy this year and some for next year. Feel free to call or email me so I can find out what units are still available.  Nightly rentals are allowed in this project if you are looking for a vacation home you can place in a nightly rental pool.

Julie Olsen, Accredited Buyer Representative & Resort and Second Home Property Specialist

Mobile: 435-513-2848   Email: julie@bestskiproperty.com

Visit Deer Valley Real Estate to search all Deer Valley homes, condominiums and townhomes for sale.

If you are looking to buy a single family home in the Park City Utah area and would like to place it in a nightly rental pool, be careful about the neighborhood you choose.  Not all neighborhoods are zoned to allow for nightly rentals in the Park City area.  Placing your vacation home in a nightly rental pool can help generate some income to help off set costs of ownership when you aren’t using the property.  It is best to work with one of the Local Park City Realtors who will help look out for your best interests first so that you don’t end up buying in a neighborhood that will not allow it if that is what you are looking for.  There are also some neighborhoods that don’t allow condominiums to be placed in a nightly rental pool but more do allow it than with single family home neighborhoods in the Park City area.

As a Park City Resort and Second Home Property Specialist, I will help you find the most suitable property that will best meet you and your family’s needs. 

Call Julie Olsen at 435-513-2848 or email her at julie@bestskiproperty.com Today.

Current Absorption Rates for Single Family Homes for Sale in town in Park City Utah.  Data is based on solds for the last month and current listings as of September 24, 2007.

Homes for Sale under $1,000,000

24 - Listings

5- Sold in the last month

21 weeks absorption rate for current listings

Homes for Sale $1,000,000 to $3,000,000

100 - Listings

6 - Sold in the last month

73 weeks absorption rate of current listings

Homes for Sale over $3,000,000

72 - Listings

1 - Sold in the last month

313 weeks absorption rate

Now is a good time to buy with less buyer competition and a good selection of homes to choose from.  This rate may change based on the time of the year.  The ski season tends to be a busier time for sales. 

Julie Olsen is an Accredited Buyer Representative who can assist you in finding the perfect property in the Park City area as well as help negotiate for the best possible price and terms.

Call Julie Olsen at 435-513-2848 or visit her website BestSkiProperty.com for more information on Park City Real Estate.

Current Absorption Rates for Condos for Sale in town in Park City Utah.  Data is based on solds for the last month and current listings as of September 24, 2007.

Condos for sale Under $300,000

55 - Listings

5 - Sold in last month

48 week absorption rate

Condos for sale $300,000 to $500,000

64 - Listings

3 - Sold in last month

91 week absorption rate

Condos for sale $500,000 to $1,000,000

128 - Listings

9 - Sold in the last month

64 week absorption rate

Condos for Sale over $1,000,000

264 - Listings

22 - Sold in last month

53 week absorption rate

Now is a good time to buy with less buyer competition and a good selection of condos to choose from.  This rate may change based on the time of the year.  The ski season tends to be a busier time for sales. 

Julie Olsen is an Accredited Buyer Representative and Certified Negotiation Expert specializing in the Park City Utah Real Estate market.

Call Julie Olsen at 435-513-2848 or visit her website BestSkiProperty.com