glenwild: Park City Market Update - 12/10/08 06:01 PM
Over the past few days we have seen 51 properties come on the market, 14 go under contract, and 15 close. The high points are: ACTIVE: -Thanyes Canyon home at $799,000; 4bd/3ba, 2208 sq ft, $361psf….An amazing lot with great upside! -Deer Valley lot in Hidden Meadows at $598,000….not too shabby of a price. -Deer Crest home at $3.595m; 5bd/7ba, 8035 sq ft, $447psf….looks like a deal in Deer Crest! -Chateaux at Silver Lake in Deer Valley unit at $1.485; 2bd/3ba, 1379 sq ft, $1079psf….seems really high on the ppsf! These units do rent like wildfire….but they will come down on … (1 comments)

glenwild: A GREAT LOCAL DEAL - AT CHLOE LANE!!! - 12/09/08 11:50 AM
 
This is a post dedicated to a great local Park City boutique which is very close to my heart…I promise Rob will provide you with your Real Estate Market Update any time now, but in the meantime, don’t miss out on a great deal which Chloe Lane is graciously offering up this month!
Anyone who’s been to Park City knows that Chloe Lane is THE PREMIER PLACE to shop for fashion in this town…and - in this state - for that matter!
Chloe Lane is generously offering a $100 store credit to anyone who signs up for the Chloe … (0 comments)

glenwild: A Little News on Promontory Bankruptcy - 12/08/08 04:57 PM
 
Alright folks, we seem to be at another lull in the Promontory bankruptcy hearings. Last week the Judge ruled that Promontory’s plan to sell the development via a 30 auction was not feasible and a sale would certainly take longer than 30 days. The hearing is scheduled to continue on December 11, and an agreement between Credit Suisse and Promontory on how the club will run after Jan. 31, 2009 will need to take place, because we are getting close to that date…..so it looks like the DIP financing will need to be extended, and possibly a longer auction period … (0 comments)

glenwild: Wait for it....PROMONTORY UPDATE!! - 12/05/08 05:55 PM
 
I know everyone is waiting on news to come out of the courtroom regarding the bankruptcy at Promontory. As of Friday afternoon, we do not have anything…look for something to come out over the weekend. However, the Jack Nicklaus course at Promontory was just awarded the #3 new course by Golf Digest. Even amongst the bankruptcy at Promontory, the development is still collecting awards! I bet you will not see that at Yellowstone Club, Tamarack, or other developments that Promontory is sometimes thrown in with…As I have said before, I whole-heartily believe that Promontory will emerge from this bankruptcy stronger … (1 comments)

glenwild: Promontory News and Market Update...Want Some? - 12/01/08 05:38 PM
Okay folks, this week looks like it could be key in the Promontory bankruptcy hearings. Today was the deadline for objections to Promontory's Disclosure Statement, and on Thursday and Friday the Court will determine the adequacy of the Disclosure Statement.We're back from our turkey induced coma and our little trip to Florida to see Rob's family.  Now we know you've been waiting on pins and needles for info on Promontory and a Market Update...so here it is already!  ;)  
Our market did not have much activity over the Thanksgiving period, but we did see 18 properties come on the market, 2 … (0 comments)

glenwild: Pre-Turkey-Day ParkCityWire Market Update - 11/24/08 09:36 PM
WOW!  There are lots of prices dropping and deals to be had in Park City, Utah right now...it's wonderful that we are still seeing some movement in the market and that buyers are still willing to purchase properties...even in this topsy turvey market...don't believe me?  Well just take a look below....
Over the past few days we have seen 29 properties come on the market, 5 go under contract, and 5 close escrow. The notable ones are:
ACTIVE:-Thaynes Canyon home at $2.95m; 3bd/3ba, 4670 sq ft, $631psf...a truly amazing 3 acre lot in Iron Canyon, but the home is note very desirable.....you … (0 comments)

glenwild: Mid November ParkCityWire Marktet Update - 11/21/08 07:27 PM
 
Over the past few days we have seen 48 properties come on the market, 15 go under contract, and 6 close escrow. Of note:
ACTIVE-Old Town condo on Heber Ave at $1.495m; 2bd/3ba, 2181 sq ft, $685psf...not a bad deal for this nice place...walk to everything including Town Lift!-Old Town home at $1.495m; 4bd/4ba, 3106 sq ft, $481psf...nice deal and these Seller's finally got real. It was on the market a few months ago at $2.1m.....this would be a great property to pick up!-Deer Valley unit for $1.495m (looks like this is the price of the day); 3bd/4ba, 3106 sq ft, … (0 comments)

glenwild: Signs of Life at Promontory and a SCREAMIN' DEAL too! - 11/18/08 05:17 PM
Just in the past few days we have seen 2 homes go under contract at Promontory.Maybe the activity can be attributed to the reorganization plan...but that has not been agreed upon by the court...so then again, maybe not.None the less, any activity is good to see. I would have to imagine that there is some pent up demand due to people holding off until the bankruptcy is settled....Not to say that the market at Promontory will do a one-eighty when the bankruptcy is finally settled, but I would look for a good bit more activity than what we saw this summer.People … (0 comments)

glenwild: Park City Market Update...Deals GALORE! - 11/17/08 04:37 PM
Over the past week we have seeesaten 71 properties come on the market, 20 go under contract, and 14 close escrow. Of note:
ACTIVE:-Aspen Springs lot at $895,000....great views in an area where lots rarely come available.-Deer Valley home at $1.995m; 5bd/5ba, 4286 sq ft, $465psf....not too bad of a deal in an area that has seen its prices hold up relatively well.-Deer Valley townhome at Silver Lake at $829,000; 3bd/2ba, 1576 sq ft, $526psf....great price for the location and rental income.-Flagstaff unit at Deer Valley's Empire Pass for $3.06m; 3bd/4ba, 2140 sq ft, $1430psf...it should be an interesting winter as … (0 comments)

glenwild: Promontory Club Bankruptcy Discussion - 11/11/08 11:31 AM
Below is a brief recap of what has taken place over the past month in the Promontory bankruptcy hearings.
As you will see, a reorganization plan that is headed up ny Credit Suisse has been proposed by Pivotal , but nothing has been agreed upon. The agreement will hopefully take place after Thanksgiving. The way it sounds, Pivotal (the original owner of the project) seems to be mostly cut out when it comes to the future of Promontory.
Here is the recap and schedule of future events:January 31, 2009 - Target date for emerging from Bankruptcy.December 5, 9:00 am - Continued Disclosure … (2 comments)

glenwild: Friday Night in Park City...What To Do? - 11/07/08 05:14 PM
Friday!  Friday!  Friday!Yep, it's finally here!Don't get me wrong, I love my job and all...but sometimes the weekend just feels so good...Even here in our little hamlet of Park City, Utah there is lots to do.People who haven't been to Utah often get the impression that the "state is dry" or that "it's hard to get a drink" here....or that "there's no bars or night life"....but that - my friends - is simply not the case!
And to prove it to you, I will now present you with a list of things to do on Friday night in Park City...and if … (0 comments)

glenwild: Promontory Bankruptcy Update - 11/06/08 04:26 PM
UPDATE ON PROMONTORY BANKRUPTCY SITUATIONLate last Friday night the attorney's for Pivotal Group, the developer of Promontory, filed their plan of reorganization with the Bankruptcy Court. Because we know you do not want to wade through the 175+ pages of legal jargon, here are the highlights:
-A new entity will be formed to take over the development-The new entity will be headed up by Credit Suisse.-The original development plan will stay in place. This means the 2 to 3 remaining golf courses and other amenities will still be part of the plan.-Certain employees will remain.-Lot sales will resume and sales prices … (2 comments)

glenwild: Park City Powder Already...ABODE news and an Update - 11/05/08 04:23 PM
It's snowing like mad here in Park City today!  It's been coming down since yesterday and we've got at least a foot now!  Not too shabby...There's definitely a good base coming in for the ski resorts and the snow machines are on full blast adding to it.There's a wonderful excitement in the air in Park City what with the new results of the presidential election and the whiteout we're having with all the glorious powder we can't wait to ski on.
If you're happy about the election results or not, you can take heart in the positive thoughts of a ski vacation in … (0 comments)

glenwild: Local's Ski Passes & Candidates Weigh-In On Housing Issues - 10/27/08 06:10 PM
the tail end of Fall Just a quick reminderto Park City locals that if you're interested in getting the locals price on Deer Valley ski passes or even coupon packages...you better get in gear and do it soon...October 31st is the deadline for Deer Valley.  I'm not sure of the deadlines for PCMR or The Canyons but I'm sure theirs are approaching as well...Let us know that you got your pass or coupons and Rob and I will meet you out on the slopes...I'll be the one in the neon dragon ski pants!  ;)
Now for something slightly more relavent to … (2 comments)

glenwild: Halloween Update & a Market Report - 10/27/08 06:06 PM

The weather is turning a bit nippy here in Park City....we're nearing the end of Fall and heading into our beloved Winter!  You can feel it in the air...the townies are restless  ;)But before we all start stretching out hammies and waxing the skis we'll have to focus on Halloween and then Thanksgiving for a while.  Halloween in Park City is a BLAST!  Not only do we have just TONS of fun parties to attend and crazy people all dressed up to watch, but we've got the annual Howl-o-ween Dog Parade down Main Street...want details on this?  Just check out … (0 comments)

glenwild: Boring Debate Last Night...Exciting Real Estate Market Update TONIGHT! - 10/16/08 10:41 PM
Snow Capped Mountains Fall Colors and Snow Capped Mountains The Last of Park City Fall here is an update:Over the past few days we have seen 23 new properties come on the market, 12 go under contract, and 16 close escrow....If you look at the past market reports you will notice that if you add the pendings and closings together they are close to equaling what is coming on the market. Not that everything that goes under contract closing, but an interesting trend that we have going!
The high points from the past few days are:
ACTIVE:-Old Town home at $969,000; … (0 comments)

glenwild: A Monday Market-Update…The Stock Market’s Up…How About the Real Estate Market? - 10/13/08 05:58 PM
Over the past few days we have seen 25 properties come on the market, 13 go under contract, and 15 close escrow.....an interesting point is that 74 properties have changed price!

More Fall Colors
Pretty Colors in Park City  

The View is Great from Up Here
This market is adjusting and I would have to say that the overall sentiment in the economy has a lot to do with that. People are scared and want/need to cash out of properties....With that being said I have some clients looking to buy property as opposed to putting more of thier … (0 comments)

glenwild: Who's Hungry for a PC Real Estate Market Update? - 10/07/08 05:38 PM
Over the past few days we have seen 28 properties come on the market, 13 go under contract, and 10 close. The high points are:
ACTIVE:-Old Town home for $3.7m; 4bd/5ba, 3401 sq ft, $1088psf...this one has been on the market before and actually started at $4.7m! If they are looking to get that price it might be another 2 years.-Trailside unit in Upper Deer Valley at $1.85m; 4bd/6ba, 3300 sq ft, $560psf..nice ppsf.-Lodges at Bear Hollow unit for $299,000; 3bd/2ba, 1122 sq ft, $266psf...this is a steal folks!-Glenwild home at $3.75m; 5bd/6ba, 7373 sq ft, $509psf....great home in a fabulous … (0 comments)

glenwild: Debate-Day Market Update - Park City - 10/02/08 01:46 PM
Today is Debate Day for the Vice Presidential Candidates and the whole country is no doubt interested to see how the whole thing will turn out.  Which ever candidate you are routing for, tonight's debate could really be telling.
On another note, all the local developments in the Park City area are gearing up for the impending ski season and higher quantities of visitors and potential buyers.  The kinetic energy around here as the season nears, tends to intensify over the months as more and more tourists arrive and business in all areas swells. 

three little birdies in thier nest
In … (0 comments)

glenwild: How About a Market Update?!?! Happy Monday! - 09/29/08 06:34 PM
Over the past few days we have seen 20 properties come on the market, 12 go under contract, and 9 close escrow. Of note, we have:
ACTIVE:-Park Ave condo at $975,000; 3bd/3ba, 1628 sq ft, $598psf...seems a tad high, but we'll see.-Black Bear Lodge unit in Deer Valley at $1.995m; 4bd/6ba, 3575 sq ft, $558psf... a great deal for being across the street from Deer Valley in Silver Lake!-Glenwild lot for $865,000.
PRICE CHANGE:-Main St. building at $1.6m, down $399,000....this one is only about 950 sq ft, but a great location! It looks like they are willing to move on price … (0 comments)

 

Rob Alday & Rachel Peterman

Park City, UT

More about me…

Snow Park Realty

Address: PO Box 4154, Park City, UT, 84060

Mobile: (435) 729-0022

Office: (435) 729-0022

Email Me

Daily updates on Park City's real estate happenings and relevant community information




Links

Archives

RSS 2.0 Feed for this blog