Banks Want to Dig Deep Into Your Private Business
One of my clients has a good paying, steady job. He is working on a loan with a large, national bank in Park City. He is buying a home from a relocation company. His loan was approved, subject to us providing the bank with the following information: • Proof that the relocation company was not [...]
Real Estate Lessons from the Bike Swap?
Last weekend we participated in the Park City Bike Swap, sponsored by Young Riders. My son and daughter had outgrown their 20 inch bikes long ago. I decided that they could “trade up” by selling their old bikes in the swap and buying new ones. What does this have to do with real estate? Stay [...]
Macro Real Estate Trends
All of the real estate news points to these 5 trends: 1. Consumer confidence in real estate is increasing. 2. Foreclosures, notices of default, and the percentage of Americans behind on their mortgage payments are all decreasing. 3. Home prices are still about 30% below the peak in 2006. This varies by neighborhood in Park [...]
Turnkey Rental Business-Townhome Included
Have you dreamed about owning your own business? The current owner of this condo has established a turnkey vacation rental business at this Red Pine Chalet located steps from Canyons Village. See www.vrbo.com/113163 to view the internet marketing program. This savvy business owner makes her guests feel at home by providing high quality beds, a [...]
Great Investment Condominium
Canyon Creek J-37 is a third floor unit that comes with a garage. Currently rented for $975/month and managed by Canyon Creek property management, this is a carefree investment. One bedroom/one bath and walking distance to Redstone. Canyon Creek has a clubhouse, gym, swimming pool and spa. $129,900.
Park City Spring Real Estate Update
Our real estate market has stabilized over the past 12 months. Last year, 88 single family homes sold in the first quarter of 2011 and 75 in the first quarter of 2012. Condo sales were also flat, with 103 in the first quarter of 2011 to 100 in the first quarter of 2012. Vacant land [...]
Home Improvements Buyers Love
Spring is around the corner and many people are thinking about a home addition or remodel. I am often asked my opinion about whether an improvement will make a house more valuable and/or more marketable. My standard suggestion is to make the improvement if you can afford it and plan on staying in your [...]
Sales of Second Homes Soar to Highest Level Since 2005
Sales of second homes, which include vacation and investment homes, soared in 2011 to their highest market share since the height of the housing boom, according to an annual report from the National Association of Realtors (NAR). Sales of investment homes climbed 64.5% in 2011, while vacation homes increased 7%. Combined, second home sales accounted [...]
Affordable Condo w/Million Dollar Ski Run Views
One of Park City’s lowest priced two bedroom condominiums. Walk to shopping, dining, Park City Mountain Resort, movies, and restaurants and only a 10-minute walk to Historic Main Street. If you don’t feel like walking, you are on the free bus route. There are also two assigned parking spaces for added convenience. Although centrally located, [...]
Deja Vu All Over Again
“Why are Americans so gloomy, fearful and even panicked about the current economic slump? The slump is the longest, if not the deepest, since the Great Depression. Traumatized by layoffs, US consumers have fallen into their deepest funk in years. Says University of Michigan economist Paul McCracken, “This is more than just a recession in [...]
