Contemporary Homes Blog

How To Make The Move To Park City, Utah

By Joel Fine
Sep 17, 2018

How To Make The Move To Park City, Utah

Rob Reed

Deer Valley Resort (left) and Park City Mountain Resort (right)PARK CITY CHAMBER/BUREAU

It took me the better part of a decade to make it happen. But I had a vision. I had a goal: to leave the city and get my family to the mountains. After nine years of subtle suggestions and outright machinations, we did it. We moved from Los Angeles to Park City, Utah.

Of course, uprooting your family and moving from an urban center, where you probably have family roots and a career or business network built over many years, is no easy decision. If you value the mountain lifestyle, though, it's well worth the effort to explore the idea.

The Montage Deer Valley in the winterMONTAGE DEER VALLEY

The following is a three-step guide to making it happen.

1. Take Some Vacations

Before you even broach the topic with your family, plan a couple vacations to Park City. See what it's like to live there for a week or so, while you ski, bike, golf or just relax by the pool. My approach included both winter and summer trips. Leaving nothing to chance, we stayed at the superb Montage Deer Valley each time.

MORE FROM FORBES

Deer Valley overlooking the Jordanelle ReservoirDEER VALLEY RESORT

During the winter, the Montage is a premium ski-in/ski-out experience, where valets help with your boots in the morning and literally take them off your feet at the end of the day. From the hotel's Compass Sports ski shop, it's just a few steps to Deer Valley's Empire, Ruby, and Lady Morgan lifts with terrain for all abilities.

Like the setting of a grand European castleMONTAGE DEER VALLEY

It's quieter in the summer but every bit as beautiful. Kids five to 12 will enjoy the Paintbox "day camp" program (seriously, they will) while adults can golf, mountain bike or enjoy the spa. The downstairs Daly's Pub includes a bowling alley, and the burger at Burgers & Bourbon is perhaps the best I've ever had. And then there are fine dining options at the Apex steakhouse and Yama Sushi, both exceptional. If not for the free shuttle that will take you most anywhere in town and then pick you up, there'd be little motivation to leave.

These vacations are valuable in and of themselves. But they can also be a subtle message to your family: this is what it's like to live in Park City (even if the Montage is a slight exaggeration).

Fall in Utah's Wasatch MountainsPARK CITY CHAMBER/BUREAU

2. Live in Park City for One Year

After much negotiation, my wife and I agreed on a 12-month trial. As a Pacific Palisades native, she'd never experienced a proper winter. And neither of us knew for sure if the kids would like it — but, again, what's not to like? The plan was to rent a house for a year, starting and ending in the summer. If we didn't love it, we could move back to LA.

Ski slopes in the summerDEER VALLEY RESORT

We took advantage of our final ski vacation, which was during the kids' spring break, to visit the neighborhoods and elementary schools of Park City while the kids were in ski school. Once we identified the right combination of the two — Jeremy Ranch and Trailside were our top picks — we started to monitor for rental homes. Leases will typically run June to June due to seasonality and the school year. It's rare to find an unfurnished house for rent, which is convenient if you want to rent your house while exploring the Park City life for a year.

After a few months of the trial, my wife and kids were sold. We bought a house less than a year later. Now, after more than two years, it's impossible for us to imagine living anywhere else. Park City, Utah, is home.

3. Buy a Vacation Property

If you can't swing a full move, then a vacation property gets you part way there. As I've noticed, this starts with spending a few weeks and then a couple months each year in Park City. Eventually, the vacation home becomes permanent.

For golfers, there are three communities worth considering.

Golfing at 7,000 feetPARK MEADOWS

Park Meadows Country Club is the oldest among them and closest to downtown. The clubhouse recently underwent a complete renovation, and the course is a Jack Nicklaus design. A partnership with Chateau Deer Valleyprovides ski benefits including indoor parking, ski storage, and use of the spa facilities.

Glenwild is a mix of seasonal and full-time residentsGLENWILD

Glenwild is outside of town in a secluded valley on the other side of I-80. The course is a Tom Fazio design, recognized by Golf Digest as the best in Utah. Facilities include a restaurant, spa, gym and outdoor pool, which is open year-round. Among the three clubs, Glenwild has the best hiking and mountain biking trails within the actual property. And it's the only one that counts the Michael Jordan as a resident member.

A beach club in the mountainsPROMONTORY

Promontory is the biggest community with two golf courses designed by Jack Nicklaus and Pete Dye respectively. It also has a man-made beach and lake that supports swimming, paddleboarding, and kayaking. The Promontory Club at Deer Valley, adjacent to Silver Lake Lodge, provides a private ski lounge for members and a shuttle to and from the mountain.

Deer Valley is one of many summer music venuesDEER VALLEY RESORT

What Are the Downsides to Living in Park City? 

For those who like to recreate and enjoy the outdoors throughout all four seasons, Park City is nothing short of paradise. It has the conveniences of a big city without the pollution, traffic and crime. It has the luxuries of a mountain town without the isolation, limited services and having everyone in your business. Nevertheless, there are downsides.

First, be prepared for some athletic humility. If Los Angeles and New York City are known for beautiful people, Park City is known for fit people. You can't go to a summer BBQ without meeting an Olympian in this town. Seriously, the medal count rivals most countries. So you'll need to recalibrate your expectations...or significantly elevate your game.

Next, injury and recovery are a way of life. I made it all of 18 months before breaking my leg skiing. Another friend broke his collar bone mountain biking inside of 12 months. Both required surgery. Fortunately, the Olympian community means Park City has some of the best orthopedic surgeons and physical therapists in the world. The wall of fame at Rosenberg, Cooley, Metcalf is a who's who of winter sports athletes and their injuries.

Other than that, it's tough to think of any reason not to live in Park City, Utah.

For more Park City Utah information contact Joel Fine Realtor, Berkshire Hathaway HomeServices 435-901-2171 www.joelfine.com    Joel@FineProperty.com

Park City, Utah (Summit and Wasatch County) Real Estate Update Q1

By Joel Fine
May 16, 2017

 

Demand for real estate in Summit and Wasatch Counties leads to a record-breaking first quarter of 2017

Park City, Utah – May 11th, 2017

The number of closed sales for the first quarter of 2017 in Summit and Wasatch Counties was the highest we’ve seen since 2007 – up 20% over 2016, according to statistics released by the Park City Board of REALTORS®. Q1 also saw the highest number of pended sales on record and a 26% increase over the previous year in total dollar volume. Growth continued to morph, and expand, encompassing outlying communities in the Wasatch Back as the entire market area was pushed to new peak levels.

Single Family Homes

Micro-markets developed and shifted as low inventory affected the activity in certain neighborhoods. The median price surged upward where the supply was limited, and conversely, the number of sales surged upward where a moderate supply could be found. Broken down by area, the median price and number of units sold varied:

Park City Proper (84060) –Limited supply resulted in only slight growth overall in the number of units sold but there was a 21% median price increase reaching $1.85 M for single family homes within the City Limits.

  • Lower Deer Valley, with 17 more home sales than the previous twelve months and a median price of $2.13 M, was a hot spot of activity.
  • Still highly sought after, Park Meadows had seven fewer sales but saw an 18% price increase reaching $1.75 M.
Snyderville Basin (84098) – With moderate supply in the Basin, there were 45 more home sales than the previous 12 months – up 13%, accompanied by a price increase of 7% to $972,000.
  • Certain neighborhoods, like Summit Park, had 28% more closed sales and a 9% median price increase to $600,000.
  • The popular neighborhood of Silver Springs, where inventory has been consistently low, saw ten fewer closed transactions than the same time last year, with a slight dip in median price to $910,000.
  • In the Basin, Promontory had the highest number of transactions with 67 closed sales and median price of $2 M, indicating that new product and amenities remained in high demand.
“We have been seeing buyers who may start looking in Park Meadows or Deer Valley, then end up preferring the amenities offered in our Gated Communities. Buyers are also willing to pay a premium for new product,” says Sara Werbelow, President of the Park City Board of REALTORS®.

Jordanelle – Offering new construction but a limited supply, the Jordanelle saw little growth in number of sold units, but a giant 64% leap in median price reaching $1.49 M.

Heber Valley – Becoming increasingly popular with buyers for the bang for the buck and offering a moderate supply of inventory, the Heber Valley had a very active twelve months. With new product on the market, there were 98 more home sales – up 37% from last year, but the median price held in check to last year’s number of $397,000.

Condominiums

Within the Greater Park City Area, the condominium sales accounted for almost half the number of closed transactions in the first quarter. The number of condo sales in Old Town and Jordanelle exceeded any other area.

  • There were 134 units sold in the last twelve months in Old Town – 34 more transactions than the previous year. The median price in Old Town also shot up 31% to $583,000.
  • In the Jordanelle area, there were 190 condo sales over the last 12 months and a 30% price increase to $485,000.
  • Canyons had the highest number of condo sales in the Basin, with 116 and median price climbed to $675,000.
  • There was also a spike in the number of units sold in Pinebrook with a total of 70 with a 9% median price increas to $458,000.
“The fast paced activity in the Jordanelle condo market attests to that fact that growth continues to be oriented in that direction. Outlying areas are being perceived as simply an extension of Park City and an evolution of the larger market picture,” said Chris Hansen, Valuation Consulting Group.

Vacant Land

Vacant land did not show much growth in either sale numbers or values, but with limited supply of existing product coupled with strong demand, it may be only a matter of time before the land market awakens more fully and movement occurs.

Looking Forward

Sara Werbelow concluded, “It feels like Summit and Wasatch Counties are entering a boom time. With the number of first quarter closed and pended sales at some of the highest we have seen to date, our market area has reached pre-recession levels. Buyers are willing to travel further distances if they can find value, pushing the number of closed sales up outside the City Limits. Distance from front door to ski chair doesn’t seem to be quite as much as a factor for current home buyers. What used to be perceived as “far away” or “out of town” is not so anymore.”

Park City, Utah Thin Air Innovation Festival 2nd Annual

By Joel Fine
Mar 23, 2017

2nd Annual Thin Air Innovation Festival
Thin Air Innovation Festival, a think-tank conference which launched April, 2016, attracting business leaders from around the Western U.S., returns to Park City for a second season April 5, 6 and 7.

Kicking off Thin Air 2017 is an Opening Night event on Wednesday, April 5th at the Dejoria Center. The event explores performance leadership – how it is attained by the cultures we develop, the data we utilize, the customers we attract and the products we create.

The festival continues on April 6 and 7 with Breakout Sessions at Santy Auditorium and O.P. Rockwell venues.

Thin Air 2017 comes to its conclusion as Main Street is closed for the outdoor music concert presented by Park City Mountain Resort and Deer Valley Resort.

Schedule and Tickets

Comprehensive List of Contemporary, Modern and Mountain Modern Properties

By Joel Fine
Mar 15, 2016

I have a comprehensive list of single family homes, town homes and condos that offer a modern, mid-century modern, mountain modern and unique architecture.

If you have an interest in the above let me know and I can tailor a report for your specific interests, needs, must haves and wants.

Properties are located in Summit and Wasatch Counties in Utah.  They vary in size and price points. Some are located in golf course communities, others are ski in out properties.

Contact Joel Fine 435-901-2171 or joel@FineProperty.com or www.JUSTCALLJOEL.com  Berkshire Hathaway HomeServices Utah Properties

 

 

Get Your Ducks in a Row If You Want to Purchase Property in Park City, Utah

By Joel Fine
Mar 14, 2016

Time and again I see potential Buyers lose out on a purchase of a property (condos, town homes and single family homes) because they think getting a loan is fast and easy--no matter what I've told them or if someone else has.

For those of you thinking of purchasing property in and around Park City---get pre-qualified/qualified! In the Park City area roughly half of all transactions come from buyers who pay cash.

If you want to be in the running for a property you really need to have all your ducks in a row.  Get your credit rating cleaned up--better yet check to see what your score is!  If there are discrepancies straighten them out.  You'll be happy you did as you should get a lower interest rate.

I'm advising my clients to expect loan approval to take approximately 45 days--if it turns out to be less--FANTASTIC.  Then add another 10 days for a Settlement Date.

Happy to provide you with a list of qualified local lenders and or answer questions about the home buying process.

Local Business Love: White Pine Touring

By Berkshire Hathaway HomeServices Utah Properties
Mar 03, 2016

White Pine Touring is a staple provider of Park City reacreationalists. From Backcountry ski set-ups, to fat tire bikes, skate ski gear, helmets, alpine boots, mittens, backpacks, and all things merino wool, this locally-owned gearage has you covered.

Beyond gear, White Pine maintains a beautiful skate and cross-country ski track on the Park City golf course that offers lessons and rentals for first timers. Additional offerings include guided snowshoeing, ski touring, avalanche safety classes, rock climbing, etc... If you're looking to expand your adventure horizons and find news ways to play in the mountains, you should probably stop by...get your skis tuned while you're at it.

WHITE PINE TOURING - 1790 BONANZA DRIVE, PARK CITY, UT 84060     •      PHONE 435.649.8710

White Pine1 White Pine3 White Pine4 White Pine5

 

 

 

 

The Only Guide to PC You'll Need.

By Berkshire Hathaway HomeServices Utah Properties
Feb 25, 2016

We have a pretty big crush on our mountain town. From its 300 miles of trails, outdoor concerts, two world class ski resorts, and spiffy real estate, Park City offers both culture and lifestyle, luxury and community, mountains and merriment. Here is where eat, shop, and play.

You had us at the concrete entrance. Park City Library...if you like contemporary spaces, not to be missed. 

Eat

High West Whiskey Distillery and Restaurant

703 Park Ave Park City, UT 435-649-8300

High West is one Park City’s best culinary haunts. This saloon styled restaurant offers in-house award-winning whiskeys and new-style western dishes. We recommend the Elk Medallions and with a Dead Man’s Boots.

Handle

136 Heber Ave Park City, UT 84060 (435) 602-1155

This farm-to-table American eatery offers the best of locally sourced delights in creative dishes. Beyond the stellar food, we love the contemporary flair of the interior and the fun cocktails. We recommend the squash salad, diver scallops and clams, and the beignets.

Billy Blanco’s

8208 Gorgoza Pines Rd, Park City, UT 84098 (435) 575-0846

Park City’s best Mexican food can be found out in Pinebrook. Billy Blanco’s offers tasty tacos, salsas, and burritos in a family fun setting. We recommend the Mango Guacamole, Baja Fish Tacos, and the Fajitas.

Shop

Flight Boutique

545 A Main Street, Park City, UT 84060 (435) 604-0806

This cute Main Street boutique offers curated women’s fashion lines that we love. Being in a mountain town doesn’t mean just wearing Gore-Tex, Flight sees to that.

Dolly’s Book Store

510 Main Street, Park City, UT 84060 (435) 649-8062

This Main Street literary retreat is one of Park City’s cornerstones. Conveniently located in the same spot as Rocky Mountain Chocolate Factory, Dolly’s has a lovingly selected array of everything from Young Adult, to Non-Fiction, to beautifully crafted Thank You cards.

Splendor Beauty Emporium

1635 Redstone Center Dr # 125, Park City, UT 84098 (435) 575-1800

This darling boutique located in the bustling Redstone center carries everything from high end hand creams, to organic face wash, to Nars make-up, to yummy smelling candles. It’s also a great place for a facial or a make-over.

Night Out

328 Main St, Park City, UT 84060 (435) 649-9371

The Egyptian Theatre is one of the cultural centers of the community. In addition to being one of the host theatres for the Sundance Film Festival, the Egyptian offers a wide array of performances from bands to musical theatre.

Ski Gear

Jan’s

1600 Park Avenue Park City, UT 84060 435-649-4949

Jan’s has everything you need to spend a comfortable day on the hill. With its custom ski boot fittings, outwear lines, and ski rental program, this Park City owned and operated shop sets you up for success on the slopes.

Gorsuch

355 Main St, Park City, UT 84060 (435) 731-8051

Known for its elegant outerwear, stylish lifestyle clothing, and luxury home brands, Gorsuch ensures a degree of refinement whether you’re skiing or hosting.

Apres

No Name Saloon

447 Main St, Park City, UT 84060 (435) 649-6667

One of Park City’s most colorful haunts, No Name, as it’s known to locals, offers great bar eats, a wide selection of craft beers, and blood-warming cocktails. The interior is a tribute to western culture and make an evening out a memorable experience.

 

 

Second Quarter Market Update

By Berkshire Hathaway HomeServices Utah Properties
Aug 03, 2015

Current Park City Market Overview

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Second Quarter stats are out. As ever, Park City's multi-faceted resort market remains complex. After carefully reviewing the numbers and interpreting them, here are our thoughts.

-Our market is stable. While we are seeing gradually increasing prices and growth, it is measured and steady. There are no alarming trends with regards to sales price or inventory.

-Buyers have options. While listing inventory feels constrained in the under $1 million market, new builds and good turnover in several of our neighborhoods mean that buyers still have a lot of options. In fact, taken as a whole our inventory is the highest it's been since 2007.

-Two trends, one market. Homes valued under $1 million seem to be experiencing price increase; whereas, homes valued above $1 million seem to be readjusting. For example, the average sales price of single family homes in Park Meadows actually decreased this quarter and has been trending down this year.

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Current Pricing

IN TOWN (YTD)

Old Town Single Family Homes

Average Sale Price: $1.5 million

Median Sale Price: $1.2 million

Sales (Year to Date): 26

Upper Deer Valley Single Family Homes

Average Sales Price: $3.4 million

Median Sales Price: $2.8 million

Sales (Year to Date): 7

Prospector

Average Sales Price: $885,000

Median Sales Price: $835,000

Sales (Year to Date): 3

Park Meadows Single Family Homes

Average Sales Price: $1.6 million

Median Sales Price: $1.4 million

Sales (Year to Date): 31 (up from 24 when compared to same time last year)

Total Park City Limits Single Family Homes

Average Sales Price: $1.9 million

Median Sales Price: $1.5 million

Total Sales (Year to Date): 82 (up from 75 in 2014)

Notes on in town pricing: When compared to last year, the average price of a Park Meadows Single Family Home DECREASED by 9% when compared to last year. In Thaynes Canyon, the average sales price similarly decreased by 15% when compared to last year. Contrarily, the average sales price of single family home in Prospector increased by 9%. Again, we seem to be seeing a readjustment of pricing above $1 million in traditionally local residential areas.

BASIN 

Sun Peak/Bear Hollow Single Family Homes

Average Sales Price: $1.3 million

Median Sales Price: $852,000

Total Sales (Year to Date): 30 (up from 25 at the same time last year)

Silver Springs Area

Average Sales Price: $988,000

Median Sales Price: $978,000

Total Sales (Year to Date): 16 (down from 19 last year)

Pinebrook

Average Sales Price: $833,000

Median Sales Price: $797,000

Total Sales (Year to Date): 22

Jeremy Ranch

Average Sales Price: $956,000

Median Sales Price: $881,750

Total Sales (Year to Date): 20 (0% change from last year)

GOLF COMMUNITIES

Glenwild/Silver Creek

Average Sales Price: $1.4 million

Median Sales Price: $1.2 million

Total Sales (Year to Date): 21

Promontory

Average Sales Price: $1.7 million

Median Sales Price: $1.6 million

Total Sales (Year to Date): 27 (up from 15 last year)

 
 
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