Spring PRICE Melt
The snow in Utah might be piling up but the prices are melting. Check out the below spring savings:
ALTA
Alta Season Passholders, Silver Card holders & Powder Card holders can purchase a day pass for a friend for $49/day April 5 - April 16. Pass holders must present pass at the ticket window for offer. Limit one pass/day/person.
Season Passholders from ski areas around the country can ski for $49/day. Pictured pass must be shown at the ticket window for offer. Limit one pass/day/person (regular price is $66).
Alta will offer $49 lift tickets the last year days of the season, April 23, 24 & 25.
BRIGHTON
Friday, April 9: Customer appreciation night- $16 night skiing for anyone. Saturday, April 17: Beach Bash! Half price skiing when you wear your beach duds.
PARK CITY Receive a free night of lodging at a participating Park City lodging property AND a free day of skiing or snowboarding at one of Park City’s resorts with the purchase of a three night lodging and lift ticket package. Offer valid now- April 11, 2010. Click here for details.
PARK CITY MOUNTAIN RESORTSpring prices after April 12:
Adult (ages 13 and 64) - $ 65
Seniors (ages 65 and up) - $ 45
Children (ages 7-12) - $ 40
POWDER MOUNTAIN
Powder Mountain is celebrating spring by offering significant discounts any day of the week.
$45- Ticket Window Price for Anyone (Regular Price $58)
$40- Utah residents, Active or Retired Military and Holders of a Season Pass Elsewhere
$30- Utah residents 62 - 69 years of age
$31- Child 7 - 12 years of age
6 & younger and 80+ Free
SNOWBASIN
Save Big by bringing your season pass from another resort to Snowbasin. Adults tickets will be $41 mid-week and $53 on the weekend.
SNOWBIRD
Snowbird will be offering a spring season pass starting April 1 for $299 that is valid through the end of the season (traditionally Memorial Day Weekend, conditions permitting). We recommend taking all of April off so you can ski for less than $10 a day. Spring passes can be purchased at the Snowbird ticket office or by calling 801-933-2215 between 8:30 a.m. and 3:30 p.m. daily.
SOLITUDE
Stay at Solitude Mountain Resort for three nights and the First night is FREE. Plus, adults ski FREE each day.
April 1 - 18: Local adults can ski for $39 and $29 for juniors.
Tags: deer valley, old town, park city, park city real estate, park city wire, parkcitywire, utah skiing
Talisker Corporation, which last year acquired The Canyons ski resort in Utah following the dissolution of American Skiing Company, on Monday announced its purchase of one of Park City’s newest luxury hotel, The Waldorf Astoria, Park City, located at The Canyons. The property, connected to the ski resort with its own gondola lift, is also known as Dakota Mountain Lodge.
“We are proud to add this wonderful and complementary asset to the Talisker and Canyons properties in Park City,” said Jack Bistricer Chairman and CEO of Talisker. “The Waldorf Astoria will expand Talisker’s Definitive Alpine Living experience.”
Talisker is developing real estate in several Park City area communities, including The Canyons ski resort, Empire Pass at Deer Valley Resort, Tuhaye golf course community, and others comprising more than 13,000 acres throughout the area.
It seems like the trend in the Park City real estate market this ski season is to see about 14 new properties come to market each day, about the same number have a price change (99% to the down-side), 6 go under contract on a daily basis, and 4 close….that is what we have seen over the past 10 days as well. Some high points:
NEWLY ACTIVE:
-Aspen Springs home at $1.425m; 5318 sq ft; $267psf; 5bd/5ba….looks like a great home!
-Ridgepoint townhome in Upper Deer Valley at $905k; 2137 sq ft; $423 psf; 3bd/3ba
-Bear Hollow Village townhome short-sale at $450,000; 2290 sq ft; $196psf; 4bd/4ba…there are some great deals out at Bear Hollow!
-Promontory lot in Painted Sky at $300k. Great price! The bottom feeders will eat this one up fairly quick.
PRICE CHANGE:
-Lot in Old Town down from $636k to $298,000!
-Deer Valley lot down from $1.095m to $549,000!
-St Regis Deer Crest unit down from $3.495m to $2.995m
-Arrowleaf unit in Deer Valley’s Empire Pass down from $1.695m to $999,000 (2bd/3ba)! Empire Pass for under $1m is a great price point!
-It looks like all Victory Ranch lots have been reduced about 20% to 30%…great development, but as you can see from above you can’t give away vacant land!
PENDING:
-2 new homes on Rossi Hill in Old Town. Both around $1.5m; 2800 sq ft; 4bd/4ba—built right and priced right.
-Pinnacle unit in Lower Deer Valley at $1.075m; 4bd/4ba; 3460 sq ft.
-Flagstaff unit in Deer Valley’s Empire Pass at $3.2m; 3bd/4ba; 2324 sq ft—it will probably close escrow closer to $2m.
-Bear Hollow townhome at $560k; 4bd/4ba; 2777 sq ft
-7 homes and 1 lot in Promontory…homes ranging from $999,000 to $2.5m and the lot went under contract at $239,000…a ton of movement there!
-Red Ledges lot at $565,000.
CLOSED:
-Old Town home at $600,000; 2bd/2ba; 1000 sq ft; $600psf.
-Deer Valley home at $3.325m; 7000 sq ft; 6bd/7ba; $475psf—not a bad price for the Seller.
-St Regis Deer Crest unit at $1.54m; 1502 sq ft; 2bd/2ba; $1025psf
-Arrowleaf unit in Deer Valley’s Empire Pass at $1.39m; 1973 sq ft; 3bd/4ba; $704psf…that is the price established by the auctions in Deer Valley…more auctions this weekend!
-Flagstaff unit in Deer Valley’s Empire Pass at $1.716m; 2324 sq ft; 3bd/4ba; $738psf…whatta know??? in the $700s per sq ft range!
-Three Promontory lots at $237,510; $100,000; $125,000
Auction at the Lookout at Deer Valley coming up this Saturday…we will have results for you when they come out. Call me for any further information (435.729.0022).
Here is some info on the new product at Red Ledges:
The Heights at Red Ledges luxury homesites feature semi-custom homes ranging from 3,500 square feet to 4,600 square feet. Owners have the ability to customize their home’s exterior and interior and have the option to choose between three signature home models, including: Chamonix, Torino and St. Moritz. Each can be designed to fit a unique style of living from mountain rustic to traditional and contemporary.
“The Heights is a stunning collection of homes perfectly positioned for owners to take advantage of the lifestyle offerings at Red Ledges,” said Todd Cates, Red Ledges vice president and project manager. “The homes will not only have grand mountain views, but will also overlook the future Village Center and the 2nd, 3rd and 4th holes of the 9-hole Nicklaus Design short course. This is a great option for owners who want a custom product with a simplified and convenient construction process.”
The Heights is being designed and built by CSE and Associates, Incorporated of Scottsdale, AZ. The award-winning builder has more than a decade of experience in the design and construction of semi-custom homes in high-end, luxury real estate communities, such as DC Ranch and Silverleaf in Scottsdale, Arizona and Promontory in Park City, Utah.
The Heights, which start at about $1.5 million, encompass gourmet kitchens, luxury baths, elegant interior features and open space ideal for families. A Torino style model is currently under construction and scheduled to be ready for touring summer 2010. The collection was also designed in partnership with DTJ Architects and HRI Interior Design to capture the essence of luxury and relaxation in the beautiful mountain setting.
Tags: Add new tag, bear hollow, deer crest, deer valley, deer valley real estate, empire pass, glenwild, old town, park city, park city real estate, park city realty, park city wire, parkcitywire, promontory, promontory real estate, red ledges, talisker, upper deer valley, victory ranch real estate
See an interesting article from Barron’s below. Some items of note:
-The percentage Park City has fallen compared to the other destinations is somewhat shocking…while there numbers might not be 100% correct. Even if the numbers are 15% off, it is still a huge discrepancy.
-I don’t really agree that we are seeing a “come-back” in the luxury real estate market….It seems like more of a sense of just having a pulse return.
-The Park City real estate market “might” have reached the bottom, but that does not mean we will see a “V-shaped” recovery…as mentioned previously on this blog, we will probably bounce along the bottom until the inventory gets reduced to a reasonable level…probably 2 more years.
-Still Park City is rated the #4 place to own a second home….great accolades for the place many of us view as a true paradise.
Here is the article:
AT LONG LAST, THE MARKET FOR LUXURY REAL estate is coming back to life.
Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward.
In Greenwich, Conn., realty brokers say, the final months of 2009 were almost record-setters for sales volume, as two years of pent-up demand was unleashed. Even the megadeal is back. In Beverly Hills, film producer Jeffrey Katzenberg just plunked down $35 million for an 8,700-square-foot home on six acres.
There’s nothing like a stabilized economy and a huge rebound in stocks to send folks looking for the perfect manse. The return of hefty Wall Street bonuses hasn’t hurt, either.
With all that in mind, and with summer just around the corner, Barron’s sized up the market for upscale second homes, one of the greatest luxuries of all. We scoped out dozens of deluxe enclaves across the country, speaking with brokers, homeowners and others. Our conclusion: Now could be an excellent time to buy.
Prices are way down — 40% off the peak in some locations. Seemingly at or near bottom, they are starting to attract the first wave of bargain hunters — and not just families in need of R&R. Hard-nosed investors also are on the prowl, says Jan Reuter, head of residential real estate at U.S. Trust Bank of America Private Wealth Management: “We’ve seen an uptick in buying in just the last couple of months.”
More Penta Articles
To help you in the hunt, Barron’s has selected the 10 best places in America for second homes. These alluring locales have it all: gorgeous houses, spectacular views, world-class golf, fishing and skiing, fine dining and great shopping. You’ll find the complete range of lifestyles, from peaceful and easy to vigorously social.
Some warnings: 1) Our selections are every bit as subjective as tastes in homes themselves. 2) The prices cited are based mainly on conversations with locals, because hard data isn’t available. 3) Your plush new retreat may take some time to rise in value. Serious appreciation will require a better economy and, quite possibly, another big rally in stocks.
But hey, you could do worse than marking time in paradise.
Mary Sloan
1. Maui Consistently rated the “Best Island in the World” by travel experts, this Hawaiian beauty underwent a growth spurt during the past decade that some critics bemoaned as excessive. But the southern coast, anchored by the hamlet of Wailea, has weathered it all well. One of the first master-planned resort communities in the nation, it’s a balanced blend of understated gated communities, luxury resort hotels, three excellent golf courses, a tennis center and, of course, several crescent sandy beaches. Wailea has 500 single-family homes, and their views are stunning: lush, verdant hills, brilliantly blue ocean and, after the steamy sun showers, rainbows over the horizon.
Median Price: $1.5 million
Drop From Peak: 27%
Neighbor: Oprah Winfrey
2. Kiawah Island, S.C. Languid elegance defines South Carolina’s coast, and Kiawah, just off Charleston, may be its ideal expression. The island has one developer, Kiawah Development Partners, and an architectural review board that protects the 4,500 or so properties from the excesses often seen when wealth meets water. It has 10 miles of hard-sand beaches and abundant wildlife: bobcats, gray foxes, loggerhead turtles and more. Its Ocean Course has long been favorite of golfers; it hosted the 2007 Senior PGA Championship. Want to tee up some culture? Charleston is just 45 minutes away.
Median Price: $1.4 million
Drop From Peak: 21%
Neighbor: Dan Marino
David Dietrich, Corcoran
3. The Hamptons Long the favored retreat of high-powered New Yorkers, the Hamptons are a just now experiencing a fresh jump in home sales, realty brokers say. Credit the revival in Wall Street bonuses. Southampton, bastion of old money, is known for its grand estates, but lovely homes can be found in what not long ago were potato fields. In chic East Hampton, the choicest real estate is on Georgica Pond. Alas, most of the area’s finest properties never come to market. Once you own a home in the Hamptons, you own it forever.
Median Price: $1.5 million
Drop from Peak: 30%
Neighbor: Steven Spielberg
4. Park City, Utah Skiers love Park City for its powdery winters, but homeowners relish the summers, too. The crowds thin out, life slows down and the tall aspens lining the nearby Wasatch range shimmer in the breeze. The one-street Old West downtown is dotted with classic Victorian houses, while Deer Valley, an understated year-round resort community, sits on the eastern edge. Its namesake ski hill has been crowned by readers of Ski Magazine as North America’s top ski resort for three years running. For $100,000, you can join the nearby Talisker Club, with links designed by PGA Tour Champion Mark O’Meara. Bonus: Salt Lake City International Airport, a Delta Air Lines hub, has direct flights to the East and West Coasts.
Median Price: $1 million
Drop From Peak: 45%
Neighbor: Robert Redford
BJ Adams and Co. Real Estate
5. Aspen, Colo. Aspen isn’t just a year-round playground; it’s also a cultural oasis, the home to the Aspen Institute think tank, a world-class symphony, and dance and art festivals. The four major ski hills speak for the themselves. The Maroon Creek Club includes a challenging golf course designed by Tom Fazio. The city’s West End has a mix of 19th-century Victorians and modern abodes not far from the “beachfront” — downtown neighborhoods within walking distance of the lift. The posh shopping is so good that some folks never find their way up to the trails.
Median Price: $5.6 million
Drop From Peak: 6%
Neighbor: Jack Nicholson
6. Pebble Beach, Calif. Golfer Jack Nicklaus once said that if he had one last round to play before he died, it would be at Pebble Beach. The site of four U.S. Opens, The Links are rated the No. 1 public course in America by Golf Digest for 2009-10. There are several other public and private golf courses within the guarded gates of the verdant Del Monte Forest, which surrounds the community of Pebble Beach. Stunning estates not far from the first tee offer sweeping views of Monterey Bay. Duffers who buy in can play the Golden Bear’s dream course every day.
Median Price: $1.1 million
Drop Since Peak: 20%
Neighbor: Clint Eastwood.
7. Palm Beach This Florida island hovers above reality, and at $30 million-plus, so do its finest pads. Oodles of socialites and tycoons wouldn’t have it any other way. Neither would Jimmy Buffett, Rush Limbaugh and too many other boldface names to mention. In addition to the never-ending social whirl, residents like the shopping on Worth Avenue and the beauty of Addison Mizner’s Mediterranean-style architecture. Mortals can enjoy the town by buying “over the moat” — in Jupiter, North Palm Beach, Palm Beach Gardens and Delray Beach.
Median Price: $3.5 million
Drop From Peak: 11%
Neighbor: Henry Kravis
Sotheby’s Intl Realty
8. Captiva/Sanibel Island, Fla. Sitting off the coast of Fort Myers, a nerve center of America’s foreclosure crisis, the barrier islands of Captiva and Sanibel are the very picture of laid-back living. Linked by a bridge at Sanibel’s northern point, the islands are renowned for their pristine beaches and abundant seashells. Then there are the hiking trails; half the island is a nature preserve. The late Robert Rauschenberg is, even in death, one of the largest landowners. His 35-acre spread, complete with studio, is intact on Captiva’s northern end.
Barron’s Penta inaugural list of second-home communities from the Hamptons to Hawaii.
Median Price: $3.5 million
Drop From Peak: 40%
Neighbor: Ted Koppel
9. Asheville, N.C. Nestled in the mountains of North Carolina, Asheville offers a four-seasons lifestyle with just enough culture and good restaurants to keep urban-withdrawal pangs at bay. Some homebuyers come from the Northeast, and many come from Florida to beat the heat. The locals call them “halfbacks,” since Asheville is halfway up the East Coast. The town has a university and a thriving art scene. We like the 1920s-vintage Tudor homes in the Biltmore Forest district, once part of the adjacent Biltmore Estate. The funky Grove Park neighborhood is also worth a look.
Median Price: $700,000
Drop From Peak: 38%
Neighbor: Andie McDowell
Gasparilla Properties
10. Gasparilla Island, Fla. Katherine Hepburn used to rent a beach house here, and it’s easy to see why. The small island off Florida’s southwest coast has been lovingly preserved: The Gasparilla Act, a state law passed in 1980, put a tight lid on population density, building heights and commercial development. Golf carts — some customized to resemble ‘57 Chevys — are the favored mode of transportation. The historic downtown has gracious homes, and the waters around the island are renowned for tarpon fishing. To check it out, check into the plush Gasparilla Inn.
Median Price: $1.8 million.
Drop From Peak: 18%
Neighbor: Harrison Ford, frequent visitor.
It can also be viewed on http://online.barrons.com/article/SB126783139173756813.html
Tags: deer valley, deer valley real estate, empire pass, glenwild, glenwild real estate, park city, park city real estate, park city realty, park city wire, promontory, promontory real estate, red ledges, silver star, talisker, talisker club, tuhaye, upper deer valley, victory ranch real estate
As we roar into March, the Park City real estate market is seeing some nice activity (relatively speaking) and our tourism numbers seem to be stabilizing.
When compared with 2009 the quantity of sales is up a little more than 15%; however, the average sales price is down about 30%…I think we can deduce that our market is extremely over-saturated and Seller’s better get real if they really want to sell.
Another interesting observation, no units at the Montage Deer Valley have gone under contract in the 3 weeks they have been available. Here is another look at the skinny for the “First Track Buyer’s Program” at Montage Deer Valley:
As for the current activity in the Park City real estate market, we are seeing an average of 10 new properrties come to the marketplace on a daily basis, 10 go under contract daily, 4 transactions close, and another 6 go under contract. some highlights:
ACTIVE:
-Deer Lake Village townhome in Deer Valley at $875,000; 4bd/4ba; 1898 sq ft; $461psf…seems high.
-Deer Crest home in Deer Valley at $3.9m; 5bd/7ba; 5808 sq ft; $689 psf…not too bad for ski in/ski out.
-Stag Lodge unit in Upper Deer Valley at $3.79m; 4bd/5ba; 3397 sq ft; $1116 psf…reaching a bit on this price!
-Glenwild lot at $399,000….not a bad deal
-9 Promontory lots! Ranging from $169,000 to $444,000…as soon as they clear inventory at Promontory, more seems to stack up. (On a side note, Promontory is seeing a lot of sales activity…not at great prices though)
PRICE CHANGE:
-Sky Lodge fractional unit (one-eighth ownership) at $189,000…down from $300k
-Thaynes Canyon home (short sale) down $24,000 to $675,000; 4bd/3ba.
-Lookout at Deer Valley townhome down $500,000 to $2.495m…looks like Seller’s are dropping prices in preparation for the auction.
-Promontory home down $700,000 to $2.5m; 6bd/8ba…nice home and a short sale.
PENDING:
-Old Town Park City home at $975,000; 3bd/4ba; 1959 sq ft; $498psf…great deal on a new home across from City Park.
-Deer Lake Village unit in Deer Valley at $790,000; 4ba/4bd; 2021 sq ft; $390 psf.
-2 Flagstaff units in Deer Valley’s Empire Pass…these units are offering major discounts (see below, under CLOSED) as a ripple effect from the auction at Silver Strike…looks like the developers are listening to what the market said at the auctions.
-April Mountain townhome $1,089,000; 4bd/4ba; 2948 sq ft; $370psf…great deal on this one.
-2 Promontory lots at $125,000 and $95,000…whoa!
-Red Ledges lot at $595,000
CLOSED:
-Lofts on Deer Valley Drive townhome at $910,000; 3bd/5ba; 3203 sq ft; $284 psf…screamin’ deal!
-Bellearbor home in Silver Lake at Deer Valley at $3.05m; 5bd/6ba; 5100 sq ft; $598psf.
-Flagstaff unit at Deer valley’s Empire Pass at $1.386m; 2bd/3ba; 1757 sq ft; $788psf….they were asking $2.31m and it closed right at the number the auction at Silver Strike set as the going rate….almost 40% off asking price!
The most recent report from the Mountain Travel Research Program (MTRiP) said at “halftime” for the ski season many resort towns are reporting numbers slightly behind last year and occupancy down one percent for the first half of the winter. The good news is reservations for the next six months are up almost 10 percent, it said.
Media covering tourism has recently reported that traveler confidence is rising. A survey conducted by the symposium revealed that 41 percent of respondents say their business is below what it was this time last year, but over 64 percent believe they’re meeting or exceeding expectations for this point in the season.
About 78 percent believe the season will end at the same or better levels than last year and almost half expect the economy to improve in 2010.
It feels like this winter is a little less crowded, but Sundance was the only time that seemed really off….other than that it is more the mid-week where we seem to be seeing lulls…people seem to be coming to Park City and Deer Valley for long weekends instead of full week vacations.
Tags: deer valley, deer valley real estate, empire pass, glenwild, glenwild real estate, park city, park city real estate, park city realty, park city wire, promontory, promontory real estate, red ledges, silver star, talisker, talisker club, tuhaye, upper deer valley, victory ranch real estate
