park city utah real estate: What Park City Ski Resort Changes Mean for Real Estate - 10/14/14 08:30 AM

Vail + PCMR Vail Resorts purchased Park City Mountain Resort on September 12, 2014 for $182.5 million. The announcement meant that season ticket holders would be able to use their Vail Epic pass at Park City Mountain Resort in addition to Vail’s 21 other ski resorts, including Park City’s Canyons Resort. Vail also announced plans to connect Park City Mountain Resort with Canyons Resort next year, creating the largest ski resort in North America, totaling over 7,000 acres. What does this news have to do with Park City real estate? Everything.
Immediate Market Impact Ski in/ski out properties at both … (0 comments)

park city utah real estate: Deciding Whether to Remodel or Sell - 10/07/14 07:35 AM
My home was built in 2000, the year my 14-year old son was born. We have lived there since 2003. When I compare my house to many others I show and sell, I regularly come down with a case of house envy. I have learned that styles change about every 5 years and even a newer home can become dated in a hurry. When faced with this situation, how do you decide whether to remodel or sell? Here are some points to help with that very decision.
When to Remodel This would include remodeling your own home or investing in a … (1 comments)

park city utah real estate: Best Places to Find Real Estate Agent Reviews - 10/01/14 05:07 AM
It’s easy to get lost online when searching for a real estate agent to represent you in the sale or purchase of a Park City home.  When doing a search for “Park City Utah real estate agent reviews” on Google, the following websites came up in the order displayed below.  How useful are these sites in finding an experienced agent who specializes in the Park City market? Read my comments on each.
Park City Real Estate Agent Reviews Case Study The entire first page of Zillow displayed agents who work for brokerages outside of the Park City area.  It wasn’t … (0 comments)

park city utah real estate: How Accurate are the Park City, UT Zestimates? - 09/16/14 07:56 AM
Zestimates are the estimate of a home’s value on the website They are sometimes used by real estate clients to discuss the list price or initial offer on a home. A couple of weeks ago, a client called and told me the Zestimate of her home was $1.2 million. Was it time to sell? My estimate of the market value was closer to $900,000. This got me thinking about Zestimates and segued nicely into this week’s blog post.
How Accurate are Zestimates in the Park City Market? To answer this question, I decided to do a small case study. I chose … (2 comments)

park city utah real estate: 5 Park City Real Estate FAQs - 09/09/14 07:26 AM
As the Park City Real Estate Strategist, I often get questions about price trends, down payments, and more. Here are my answers to some common questions about the Park City Real Estate Market.
What is the current trend in single family home prices? The median price in Park City has been stable for the past 12 months, but is up about 10% since 2012.  Nationally, home prices increased about 10% according Case Shiller and 5.9% according to FHFA.  The Park City market is highly segmented.  Some neighborhoods have seen over 10-15% increases in pricing over the past year and others have bloated … (0 comments)

park city utah real estate: 5 Reasons Not to Do “For Sale by Owner” - 08/19/14 07:28 AM
I was sitting down to write this week’s blog but I came across this article by Keeping Current Matters and frankly couldn’t have stated it any better myself. Would like to share their article with you here. Please leave your comments and questions on the subject of FSBO.

Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.
Here are five of our reasons:
1. There Are Too Many People to … (2 comments)

park city utah real estate: It’s Shoulder Season, Park City! - 05/07/14 08:52 AM
65° and sunny. 40° and rainy. Six inches of snow. What do they have in common? They are all weather possibilities during spring in Park City, Utah.
It’s that time of year again. In what is generally referred to as the “shoulder season”, the town is letting out a collective sigh after another successful ski season under its belt. On the tails of being named Outside Magazine’s Best Active Town last fall and some fantastic powder days this past ski season, the first quarter of 2014 real estate sales showed an increase in sales volume of 16.6% over the first quarter of 2013. We holidayed. We … (0 comments)

park city utah real estate: Are Real Estate Agents a Commodity? - 02/26/14 07:07 AM


With Zillow, Trulia, and other home search sites easily available, what value does a real estate professional bring?  
Clients don’t need me to find properties for them.  The truth is, most of my buyer clients send me lists of the homes they want to see.  However, a list of properties for sale is essentially useless without a deeper understanding.  My clients know that the neighborhood knowledge, understanding, insider information, analysis, and negotiation skills that I bring to the table are how I provide value.

A great real estate agent will … (0 comments)

park city utah real estate: 11 Reasons to List During the Holidays - 12/10/13 07:43 AM
People who look for a home during the Holidays are more serious buyers! Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you! Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you! Houses show better when decorated for the Holidays! Buyers are more emotional during the Holidays, so they are more likely to pay your price! Buyers have more time to look for a home during the Holidays than they do during a working … (0 comments)

park city utah real estate: Buy That Fixer-Upper-Uncle Sam Will Finance the Improvements - 10/16/13 06:32 AM

FHA 203(k) loans are a great tool for buyers who are looking to buy distressed, old or run down properties that require improvements.  They can also be used to finish a basement, add a room or remodel a kitchen.  These loans are perfect for buyers with more vision than cash and who want to live in the home for at least one year after taking ownership.
The financing is based on the purchase price negotiated for the home plus the cost of improvements.  FHA will finance up to 110% of the after-improved value of the home.  The buyer must come … (1 comments)

park city utah real estate: Why Hiring a Realtor Saves you Money - 10/10/13 09:18 AM

1.     Looking for a new home or trying to sell yours?  Realtors network with one another and in today’s fast real estate market can often match buyers and sellers before a home even hits the market.  Realtors are familiar with the local inventory and know about homes that recently left the market.  This saves time and money for both buyer and seller.  Example:  A local real estate agent just showed and sold a home I recently took off the market.  This was a win-win for both the buyer and seller.
2.     Realtors know the sales process.  They understand the terms … (0 comments)

park city utah real estate: 5 Things to Consider When Purchasing a Vacation Home in Park City, UT - 10/02/13 09:08 AM

*photo by Rachel Sharwell
With property values on the rise and interest rates still bottoming out, I’ve received many inquiries from people looking to purchase a vacation home or rental property in Park City.  While the process of purchasing a vacation home is similar to purchasing a primary residence, there are a few insider tips to finding the best property.
1.     How are you going to pay for the home?  
If you have the cash to spend, you can usually negotiate a more aggressive price.  If you are financing, you need to understand the financing considerations for the property … (0 comments)

park city utah real estate: Should You Trust Online Home Valuations? - 09/03/13 07:50 AM

I chose 5 Park City properties that closed last week.  I compared the closed price to the “estimated value” using a popular website.
1226 Lowell Avenue-closed for $866,000; estimated $919,000.  Accuracy:  94% 9041 Daybreaker Drive-closed for $731,000; estimated $787,000.  Accuracy 93% 605 Mountain Holly Lane-closed for $2.5 million; estimated $2.3 million.  Accuracy 92% 1717 Teal Drive-closed for $419,000; estimated $503,000.  Accuracy 83.3% 3320 Tatanka Trail-closed for $2,089,694; estimated $2,150,000.  Accuracy 97% In contrast to other states, where the sale price is public record, Utah is a non-disclosure state.  That means the sale price is not public record.  The sale price … (2 comments)

park city utah real estate: 3 Commitments to Steal a Property - 07/23/13 07:49 AM
“The housing market has bottomed. It’s not too late to get involved. I still think buying a home is the best investment any individual can make. Affordability is still at an all-time high.”—John Paulson (Billionaire who made his fortune by predicting the real estate meltdown in 2007.)
If you are looking to pick up an investment property or looking to get a great deal on a new home, these are proven tips to win.  The most important concept to remember is that there is a lot of competition for good deals and proper preparation is essential. Skipping any of these steps … (0 comments)

park city utah real estate: We Love Park City Photo Contest - 06/26/13 12:19 PM
Do you love Park City? Do you love photography? We are looking for beautiful pictures depicting life here in our unique mountain town. You do not need to be a professional photographer to enter. Whether you like the architecture, the mountain scenery, or the many art, cultural or outdoor activities our area has to offer, enter your best photos of life in Park City, UT now.


park city utah real estate: New Restaurant for Summer Excursions - 06/20/13 10:39 PM

I was sad to see the Yolk restaurant in Kamas boarded up.  We used to go there for breakfast when we were in the Kamas area, which locals know as the “Gateway to the Uintas”.   “Mirror Lake Diner” opened in that same location last month and it is a great addition to the Kamas Valley.  I was out that way to meet our Sotheby’s photographer, Kyle, and arrived early and hungry, so I decided to give this restaurant a try.  It’s really attractive on the outside and the inside is just as warm and inviting.  The menu tells the story … (0 comments)

park city utah real estate: How to Look Like a Wine Genius - 06/18/13 12:14 PM

I like to drink wine, but I am certainly no expert.  Like most people, I tend to stick to the brands and grapes I am familiar with.
When I visited Los Angeles earlier this month for the Sotheby’s Global Networking Event, I was introduced to a fantastic new resource-Sotheby’s Wine!
Sotheby’s Wine is both a retail wine merchant and auctioneer, with a store in the lobby of Sotheby’s headquarters building in New York, at 72nd and York and on the world wide web at  The retail business applies the same exacting standards used in the traditional auction business, … (0 comments)

park city utah real estate: A Real Estate Conversation - 05/28/13 11:16 AM


park city utah real estate: Latest Real Estate Trend: Sold but Not for Long….. - 05/14/13 08:09 AM

Anyone who pays attention to real estate trends knows that inventory is at record lows which is driving an increase in prices and creating somewhat of a panic among buyers.  (See my post from last week for the actual Park City Statistics).  People who are seriously looking to make a purchase are frustrated by the number of multiple offers and homes that are sold before they even hit the multiple listing service.  There is an impulse to make an offer and “tie up” the first house that meets most of the buyer’s needs, even if that house doesn’t have … (4 comments)

park city utah real estate: Park City Market Update - 05/07/13 08:55 AM

Here is a quick snapshot of what is happening in the Park City real estate market:
Compared to the first quarter of 2012-
Number of sales are up 17%. Sales dollar volume is up 28%. Best first quarter since 2007. Lowest inventory since 2006. 21% decrease in listings. Distressed properties (foreclosures and short sales) make up only 3% of active listings and accounted for 13% of sales compared to 13% of sales in the first quarter of 2012. Single family homes sales increased 18%. Median sale price of single family homes rose 30% to $619,500.  Median home price within Park … (0 comments)

Nancy Tallman, Real Estate Strategist (Summit Sotheby's International Realty) Rainmaker large

Nancy Tallman

Real Estate Strategist

Park City, UT

More about me…

Summit Sotheby's International Realty

Address: 1750 Park Avenue, Park City, UT, 84008

Office: (435) 901-0659

Mobile: (435) 901-0659

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