utah real estate: Park City’s Best Vacation Rental Condos
- 11/14/18 01:47 PM
Many people dream about buying a condominium in Park City that serves as a second home that pays for itself when not in use. This week's blog is a list of condos with the best rate of return in Park City. We've included opportunities at every price point! Click HERE to read more! … (0 comments)
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utah real estate: Park City Neighborhood Spotlight: The Aerie
- 12/13/17 01:42 PM
“Aerie”
noun ae·rie \ ˈer-ē , ˈir- , ˈā-(ə-)rē \
“an elevated often secluded dwelling, structure, or position”.
Looking at the definition of the word, I’d say The Aerie—the neighborhood where Old Town, Prospector and Lower Deer Valley intersect—is aptly named.
In this week's blog, I will be highlighting my top reasons why The Aerie is one of Park City's best areas. Click HERE to learn more about this beautiful neighborhood and what it has to offer.
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utah real estate: Client Poll: Best Park City, Utah Restaurants
- 11/15/17 11:21 AM
According to the Park City Chamber Bureau, there are over 150 restaurants in Park City, Utah. Not too shabby for our small-but-growing town. There is a place for every mood, whim and craving. In fact, there are so many options that it can be difficult to decide where to go! This pleasant predicament gave me a fun idea: to poll my clients and see which restaurant is their favorite.
The number one winner is Shabu!
ShabuSince 2004, the Valaika brothers (Kevin and Bob) have been serving up freestyle Asian cuisine. This experienced duo is known for creating dishes that are both regional and … (0 comments)
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utah real estate: Is the Open Concept House Here to Stay?
- 08/24/17 09:12 AM
Is the Open Concept House Here to Stay?
From the house you grew up in to your Great Aunt’s current one, some homes were built in the days when more doors seemed tantamount to more value. But in today’s day and age, the open floor plan is all the rage. Builders are constructing homes with this in mind, and others are tearing down walls left and right. But is the open concept house here to stay?
Click HERE to read more!
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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)
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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.
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utah real estate: Home Prices are Projected to Increase
- 05/22/13 04:48 AM
9143 Flint Way
The Case-Shiller index of home prices in the 20 largest metros reported January prices were up 8.1% over the previous year. That was the largest annual gain in over 6 years. In Park City, this number was up 12% within city limits, where the median price of a home hit $1,312,500.
Experts have projected that U.S. home prices will appreciate by 5.4% in 2013. If we assume that prices will rise about the same 5% over the next twelve months, here is the difference a buyer will pay if they wait a year.
$500,000 home would be $525,000.
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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)
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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)
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utah real estate: A Sign of the Times-Mega Mansions are Selling
- 04/30/13 08:50 AM
I read a really fun article in Forbes called “The Era of the $100 Million House” by Morgan Brennan Click here for the article
The article discusses the rise of $100 million homes for sale around the United States. Here are some qualities shared by these mega estates:
Location. The home must be in an expensive zip code. Beverly Hills, Hillsborough, New York City, Miami, and Dallas all have listings in excess of $100 million. Size. The homes are typically larger than 10,000 square feet. Amenities. If you can conceive it, you can achieve it, given a … (3 comments)
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utah real estate: Thinking of Selling Your Park City Home? Why You Should List Now
- 04/09/13 09:45 AM
There is an adage in Park City that when the snow melts the “For Sale” signs sprout. This is generally true, but this year seems to be different than most, due to a lack of inventory and an increase in buyer demand.
The first quarter of 2013 we closed 94 single family homes in Park City and the Snyderville Basin, compared to 78 during the same period in 2012. What makes this statistic especially interesting is that while demand was up 21%, inventory was down 26%.
Rising demand means sellers are able to command more favorable prices and terms for … (0 comments)
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utah real estate: Could Park City Become Home to the World’s Wealthiest?
- 03/22/13 08:33 AM
One Hyde Park is a condominium in London where apartments sell for nearly $12,000/square foot. Clearly this development is the ultimate in luxury that only the uber-wealthy of the world can afford. Many of the residences are owned by off shore trusts making it difficult or impossible to track the actual residents. The press has speculated owners hail from Kazakh, Russia, Ukraine, Britain, Nigeria, China, Saudi Arabia, and Qatar, but the developer will not confirm or deny this.
One Hyde Park boasts beautiful architecture and floor to ceiling windows to maximize views and light. What other amenities attract billionaires?
The … (0 comments)
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utah real estate: Why Moving Up NOW Makes Perfect Sense
- 03/12/13 08:17 AM
Two years ago my clients, Dr. and Mrs. Smith (not their real names, but the rest of the story is factual) purchased a condominium at Bear Hollow Village. They paid $485,000. They used the condominium for the past two summers and for family ski trips. They donated a week at their condominium to various auctions. When they weren’t using the condominium, they rented it.
Just before last Christmas, Mrs. Smith told me that she really wanted a single family home when her family visits Park City during the summer of 2013. Her kids are active in sports and want a … (0 comments)
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utah real estate: Home Building is Back and so is Vacant Land
- 03/05/13 07:56 AM
Housing inventory is low nationwide and in Park City. During the economic slump, construction loans were impossible. Housing prices fell so low that building did not make sense. The situation has changed.
The number of lots listed for sale in Park City has dropped by almost 30% since the peak. This is the result of two dynamics at play: (1) distressed lots were sold and absorbed and; (2) some sellers took their lots off the market to wait out the real estate slump.
The number of lots sold in the final quarter of 2012 was up 136% over the … (0 comments)
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utah real estate: "Never lose sight of your dreams."
- 02/27/13 03:13 AM
“Never lose sight of your dreams.”
That is a quote from Tony Robbins.
What were your dreams 10 years ago? Have you lived them or lost sight of them? Maybe they have evolved. Most of us get busy. We focus on the immediate demands we face and forget why we are working so hard.
Perhaps your dream is to downsize your cost of living. You dream of moving to a smaller home so you can use your cash on recreation, travel, or an additional home. Perhaps you want to spend more time with your family in an idyllic … (2 comments)
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utah real estate: Park City, Utah Real Estate Trends
- 01/24/13 06:34 AM
For those of you with short attention spans, here are the 2012 over 2011 sales trends for Park City, Utah. These sales are similar to trends seen in other parts of the United States and have continued into 2013.
Inventory -down
Median sales price-slightly up
Sales volume-up 15%
Number of sales-up 9% over 2011 and 61% over 2009
Distressed sales-down
The combination of all these factors points to a continued strong market in 2013. For further details about actual numbers or particular neighborhoods, please contact me at 435.901.0659 or nancytallman@gmail.com
… (1 comments)
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utah real estate: Save Thousands of Dollars and Heartaches - Use a Buyer’s Agent
- 01/16/13 07:55 AM
The photo above was taken last week as the new Directors and Officers of the Park City Board of Realtors were sworn in. (I am wearing all black.) Every single realtor in this photo is an excellent buyer’s agent. But why do you need one? It is so much “easier” to buy a home without silly contracts and negotiations. How much value do real estate agents add if you already found the property you want to buy?
In a word, plenty. Below are 4 things that can go wrong with a “do it yourself” approach:
You are paying cash so … (2 comments)
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utah real estate: Low Appraisal? Don’t Settle!
- 01/03/13 08:39 AM
Remodeled Unit
Buyers and their agents stress about appraisals because they kill transactions.
A buyer of one of my condominium listings was approved for financing, the property inspection went well and everything was humming along….. until the buyer’s agent received a copy of the appraisal. The condo appraised for significantly less than purchase price. To say that everyone involved in this transaction was disappointed is an understatement. I decided not to settle for this appraisal.
To go back one step, I should explain that I always meet the appraiser at my listings. I do not assume the appraiser has seen … (3 comments)
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utah real estate: 5 Real Estate Trends to Look for in 2013 as Reported by THE KCM CREW
- 12/27/12 08:31 AM
Based on my assessment of the Park City real estate market, this blog, posted on kcmblog.com is spot on. I couldn't have said it better. Enjoy!
Predicting trends during volatile economic times in American is no easy task. However, we are going to give it our best shot. We strongly believe these are the five real estate items we should keep an eye on in 2013:
Demand for Housing Will Continue to Surge
The housing market has turned the corner and there is no reason to believe that buyer demand will not maintain momentum throughout 2013. Household formations shot up … (0 comments)
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utah real estate: How Much Would You Pay for this View?
- 12/23/12 05:30 AM
P.S.—IT INCLUDES A GOLF CLUB MEMBERSHIP VALUED AT $75,000
If you are interested in being part of one of the premium communities in the Park City area for a STEAL, I’ve got a great deal for you—but you have to act fast!
The above lot is located at Red Ledges and is priced at just $130,000 and it includes a $75,000 golf membership.
This lot is a golf course frontage homesite on the future 9 hole short course. The price has just been reduced to $150,000, including the $75,000 golf club membership.
Red Ledges is on fire! They have … (4 comments)
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Many people dream about buying a condominium in Park City that serves as a second home that pays for itself when not in use. This week's blog is a list of condos with the best rate of return in Park City. We've included opportunities at every price point! Click HERE to read more! … (0 comments)
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