The weather today is a little grey here in Park City....it kinda makes me want to crawl into bed and watch TV...wait - better make that a movie, considering the fact that if I have to hear one more newscast about Sarah Palin - I might explode...we need some new material folks! 
So how does everyone like our new blog layout? I'm still working diligently on it but we figured we'd get something up and running in the meantime. We've got some really great pages to add so keep checking back...a lot...feel free to stop by the site 4, 5, 6 times a day if you like that's how I do it with Perezhilton.com...I can't deny myself the simple pleasures of my favorite blogs...
Now here's why you're really here - to read Rob's updates with the interesting info you're looking for...read on!
With the Federal bailout of Fannie and Freddy, mortgage rates have taken a sharp and sudden downward turn. The 30 year rate is down to 5.88% from 6.2%....the question remains, when will the banks start lending???
Here is a Park City market update:
Over the past few days we have seen 34 properties come on the market, 16 go under contract, and 12 close escrow. The high notes are:
ACTIVE:
-Pinnacle unit in Deer Valley selling one-sixth ownership for $279,000....this idea of breaking an individual unit into fifths or sixths is gaining in popularity among sellers.
-Lookout at Deer Valley at $3.44m; 4bd/5ba, 4317 sq ft, $796psf....they are still trying to get a high ppsf up there.
-Silver Lake/Upper Deer Valley home at $4.5m; 4bd/2ba, 5000 sq ft, $900psf....2 baths? and $900psf???
-Escala Lodges at the Canyons at $1.395m; 2bd/3ba, 1740 sq ft, $801psf....seems a little steap.
PRICE CHANGE:
-Greyhawk unit on Deer Valley Drive for $439,000 (down $50,000); 2bd/2ba, 1027 sq ft, $427psf....good buy on this one.
-Thayne's Canyon home down $200,000 to $999,000; 3bd/3ba, 3818 sq ft, $262psf.....great buy, but needs a large remodel....Even lots in town do not get much better than this.
-Promontory lot down $150,000 to $549,000....another good buy at on of the best developments around....people will be kicking themselves in 12 to 18 months from now for not picking up some of these deals at Promontory.
UNDER CONTRACT:
-Deer Valley home in Hidden Meadows for $2m; 5bd/5ba, 4752 sq ft, $421psf...Deer Valley is still trucking along.
-Another Deer Valley home at $1.795m; 4bd/5ba, 5573 sq ft, $322psf...a real steal!
-Caledonian unit on Main St in Old Town Park City at $2.1m; 3bd/4ba, 1992 sq ft, $1052psf...that is a big ppsf.
-Red Ledges lot at $575,000....they have been doing well this summer.
SOLD:
-Mountain Ranch Estates home at $1.3m; 5bd/5ba, 5048 sq ft, $258psf!
-Red Ledges lot for $500,000.
-Glenwild lot at $625,000...we are seeing some movement in lots out there.
-Old Town lot at $402,189...so much for an Old Town lot being worth $500,000...in this market it looks more like $400k.
Tags: blog layout, Deer Valley, Glenwild, grey hawk, lookout, market update, movie, Old Town, park city, parkcitywire, Promontory, real estate, rob and rachel, sarah palin, talisker, tuhaye
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