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REVIEW

Winter 2012

Mountain Property

Par k C it y, D ee r Va l l e y a nd I nte r n ational New s

PARK CITY 2011 REAL ESTATE SNAPSHOT In 2011, property sales were up 17% over 2010 levels but prices were generally lower or flat. The difficulty of obtaining financing, the auctions, short sales and bank owned properties that occurred in our marketplace helped to reset overall values. Well priced properties that were considered “steals� have now sold and the available inventory is down by 18% from 2010. In 2011, the Historic District had 46 single family home sales with a median price of $817,500. In Park Meadows, there were 51 sales of single family homes with a median price of 1,224,401 and in Jeremy Ranch there were 47 sales with a $624,000 median price. The number of condominium sales (96) in lower Deer Valley was up 66% from 2010 with a median price of $640,000. In upper Deer Valley, the number of sales was down 29.2% and the median price was $1,290,000. In Park Meadows, the median price was $355,000 with 27 sales. This number reflected the number of Racquet Club Village town home sales at prices lower than in past years. In the Snyderville Basin, there were numerous distressed sales in Canyon Creek, Powderwood, Fox Point and Bear Hollow. The median price in 2011 in the Olympic Park area which includes Bear Hollow was $308,129. The Promontory Community has resolved many of its past issues and experienced a big resurgence in 2011 with the sales of many of the bank owned property homes and lots. There were 45 single family home sales at a median price of $1,150,000 and 78 lots sales at a median price of $145,000. It continues to be a sought after area because of its diverse amenities and appeal to multi-generational families.

DEER POINTE VILLAS AT DEER CREST This Deer Crest neighborhood will consist of six buildings with a total of twelve villas. Each villa has over 6200 sq .ft. with 3 levels, 3 fireplaces, an incredible kitchen, theatre room, wine cellar and outstanding finish work. The first building is completed and both villas have sold. The project does not have direct ski access at this point, but there is a proposed short ski lift for the future. Meantime, they are working with the Deer Crest Club to have complimentary memberships included in a purchase. We have been told that a new buyer can pick the pad site and the end unit is available. The views from this site over the Jordanelle and Deer Crest are spectacular. The asking price of $3,000,000 with the opportunity for customization is a good value for the quality of this home as the first two villas sold for $3,800,000 and $3,900,000.


LOCAL KNOWLEDGE GLOBAL REACH DEER VALLEY MUSIC FESTIVAL We are privileged to have the Utah Symphony and Opera as a main Deer Valley attraction each summer. Sitting on the lawn with a circle of friends and a scrumptious picnic from Deer Valley’s gourmet cooks while music soars around you is truly food for the mind and soul. Are you aware that there are concerts in the winter as well? Don’t’ miss this one on February 9th at 7:30 PM in the Eccles Center. The Symphony will be playing Beethoven’s Fifth Symphony as well as the lovely Mendelssohn Violin Concerto. To obtain tickets call 801-355-2787 or visit www.utahsymphony.org.

SUMMIT LAND CONSERVANCY Open space, view corridors and wildlife habitat have been under increasing pressure in our community. The formation of the Summit Land Conservancy back in early 2000 was as a direct result of these pressures and the realization of the value these open spaces have to the quality of life in Summit County. As the only Accredited Land Trust in Utah, this organization holds easements and monitors over 2000 acres in Summit County. Many of you are familiar with some of the lands that have been protected. Empire Canyon, the McPolin Farm, and Round Valley are among many of the areas that if fully developed would have an impact to those of us living and recreating in Park City. The 1300 acres of Round Valley is a crown jewel in our community and we have the opportunity of adding the Osguthorpe parcel, the last remaining 120 acre piece to this jewel. The deadline February 10, 2012, to raise the remaining funds is just around the corner and we need your help. Please donate whatever you can as every donation brings us closer to our goal. For details see www.summitlandconservancy.org.

DEER VALLEY MONTAGE This first class family resort at the base of the ski lifts in Empire Pass continues to have great appeal. With a variety of restaurants, spa, and services, this Montage has attracted guests from around the world. In 2010, there were 14 sales. The current winter release of 9 furnished residences (8th and 9th floors) and 7 unfurnished residences (10th and 11th floors) offers a 16% price discount and a host of other sales incentives through April 15, 2012. Two Montage residences have recently been pended.

Maire Rosol, Associate Broker, Certified Internation Property Specialist (CIPS) NAR President’s Liaison to Sweden 435.901.2247 | 435.640.0438 mrosol@mrosol.com mrosol.com | topmtnproperties.com


Featured Properties Deer CREST

HOLIDAY STAG LODGE RANCHETTES

Stunning 6 bedroom ski in/out home with a contemporary flair and awesome views in a quiet gated community. A true masterpiece. $6,600,000

A one of a kind restored 5 bedroom Victorian mansion in a gorgeous park like setting. Its spacious verandas, pond, water features and outdoor living space are exceptional. $3,999,000

Ski into the patio from Deer Valley’s Success ski run and enjoy this remodeled and furnished 4 bedroom town home with a massive sandstone fireplace and warm ambiance. $2,800,000

GRAND LODGE

ASPEN HOLLOW

HISTORIC DISTRICT

A perfect 4 bedroom ski retreat in an amenity filled lodge with patio door just a few steps from the Northside Ski Lift. Unique floor plan furnished in a relaxed alpine style. $2,430,000

Inviting ski from updated 4 bedroom furnished town home nestled in the aspens with a private back deck, hot tub, 2 family rooms each with a fireplace, and a cool master suite. $1,495,000

This quintessential Old Town 5 bedroom residence with its own apartment was built in 1896 and restored in 1991. It’s a true gem and steps from Main Street’s fun and activities. $1,365,000

PINEBROOK

SNYDERS MILL

PARK CITY VILLAGE

Located in the Ecker Hill neighborhood aspens, this 5 bedroom home was custom built with many unique features. Owners have moved to it is easy to see and a must see. $779,000

Delightful 3 bedroom stucco home located close to Canyons Ski Resort and Willow Creek Park with hardwood floors, spacious master, French doors and private patio. $599,000

Cozy studio at the base of the Park City Mountain Ski Resort. Upgraded with granite counters, slate floors and new appliances. Great rental and great amenities. $130,000


MAIRE’S NEWS Everyone knows that I am an adventurer and love to see what lies beyond. People are always asking me where I am going next. Hopefully, it will be to St. Petersburg in Russia in May 2012 but in 2011, my overseas travels included a trip to Sweden as the National Association of Realtors® President’s Liaison. Along with my friend, Kathryn Hunt, from Marco Island, Florida, we visited real estate offices in Malmo and Helsingborg in Southern Sweden and Stockholm. What incredibly beautiful cities! In December, I attended the International Real Estate Federation (FIABCI) winter business meetings in Lisbon. As a newly elected Director of the USA Chapter, we participate in these global meetings sharing ideas, our properties and networking. . After Portugal was a brief visit to Paris to the French Real Estate Association’s (FNAIM) annual conference. These events are a superb way of connecting with other real estate associates in other countries. The October Sotheby’s International convention in Miami was a terrific gathering and we got updates on new technologies and marketing tools. With such a worldwide recognized brand, it is essential to be aware of the very best ways to present a property. Plus there were terrific networking opportunities. I have developed some great relationships with real estate brokers in The Hamptons, Westchester County, Miami Beach, Toronto and the Bahamas.

Maire Rosol, Associate Broker, Certified Internation Property Specialist (CIPS) NAR President’s Liaison to Sweden 435.901.2247 | 435.640.0438 mrosol@mrosol.com mrosol.com | topmtnproperties.com


Feb Newsletter MRosol