Park City, Deer Valley Year-End Stats Look Great

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 'Salesperson of the Year'

Home sales in the Park City and Deer Valley areas increased 18.44 percent in 2013 compared to the number of homes sold in 2012. We’re seeing these kinds of numbers all over the state and it’s great to see just how much things are looking up.

A report from the Wasatch Front Regional Multiple Listing Service (WF-MLS) notes a total of 282 homes were sold in 2012. That’s when we saw a mind-blowing 35.58 percent increase in home sales over 2011 when only 208 Park City homes and Deer Valley homes sold. The growth slowed somewhat from 2012 to 2013 when 334 homes sold throughout the year. Slow, steady growth is more desirable than false housing bubbles that confuse the market, so I’m encouraged by what I see.

Those of us in the real estate industry often look at “current days on market” (CDOM) for housing market health indications. Granted, no single statistic will tell us how the local housing market is fairing; but, when you look at the big picture including how fast homes are selling, how many homes sell, the price at which they sell, and new inventory, it’s easy to get a good feel for the current situation.

Park City, Deer Valley Homes Sold Faster in 2013

We saw the market begin its recovery in 2011 when the median CDOM was 127 days. That’s a long time to wait for a home to sell and it has a tendency to make people nervous. In 2012 that number decreased by 14.17 percent to 109 days. In 2013 the median CDOM was just 87 – that’s 20.18 percent faster than in 2012.

Buyer Beware, Prices Rising

In 2011 the median home price in the Park City/Deer Valley area was $462,500. Now, that’s obviously higher than the state median home price; remember, we’re talking about world-class resorts here where high-dollar homes are in good supply. Believe it or not, that price was disconcerting to some homeowners (because it was low for the area). In 2012 the median home sold price increased 8.7 percent to $502,750. We all said, “That’s better.” In 2013 the median home sold price climbed to $590,000 (a 17.35 percent increase). For the time being, it’s nowhere but up from here. Prices in the area can still be considered bargains; and, interest rates are still very appealing. The bottom line? It’s time to buy. Please note in the stats chart that the median asking price for homes was $725,000.

Inventory Holding Steady

Park City’s home inventory, and Deer Valley’s inventory is holding steady. New listings were up slightly in 2013 compared to 2012 (.74 percent higher). In 2013 a total of 544 new listings came on the market at a median asking price of $725,000.  Of the new listings added in 2013, 61.40 percent sold.

In 2012, homeowners listed 540 homes on the WF-MLS. The median asking price was $675,000 and 52.22 percent of those sold.

In 2011, WF-MLS added 626 new listings at a median asking price of $685,000. Yes, the asking price was higher than what we saw the following year; but then, only 33.23 percent of those listings sold.

The inventory in these areas of Summit County is looking good and we’re seeing the market come back into balance.

If you are in the market for a Park City home for sale or a Deer Valley home for sale, please visit www.allparkcityhomes.com today. If I can help you find that vacation home, an executive home for sale or the perfect family home, call me at 801-673-3333. I’m here to make sure you find the right Utah real estate for you.

2014 Sundance Film Festival to Host Special Preview

30th Anniversary of the Sundance Film Festival

130919 • A Portrait of Marina Abramović, directed by Matthu Placek, will compete with other short films in the 2014 Sundance Film Festival. Photo by Michael Berlucci is courtesy of the Sundance Film Festival.

(EDITOR'S NOTE: The following is an excerpt from a press release courtesy of the Sundance Institute originally published online on Jan. 13, 2014.)

Park City, UT — Sundance Institute today announced that the 2014 Sundance Film Festival will host special preview screenings of Boyhood by Richard Linklater, premiering Sunday, Jan. 19, 9:45 p.m. at the Eccles Theatre, 1750 Kearns Blvd, Park City, UT 84060. The 2014 Festival takes place January 16-26 in Park City, Salt Lake City, Ogden and Sundance, Utah.

With the addition of Boyhood, the 2014 Festival will present 121 feature-length films, representing 37 countries and 54 first-time filmmakers, including 35 in competition. These films were selected from 12,218 submissions (72 more than for 2013), including 4,057 feature-length films and 8,161 short films. Of the feature film submissions, 2,014 were from the U.S. and 2,043 were international. One hundred feature films at the Festival will be world premieres.

Boyhood / U.S.A. (Director and screenwriter: Richard Linklater) — Filmed over short periods from 2002 to 2013, Boyhood is a groundbreaking cinematic experience covering 12 years in the life of a family. At the center is Mason, who with his sister Samantha, are taken on an emotional and transcendent journey through the years, from childhood to adulthood. Cast: Patricia Arquette, Ethan Hawke, Ellar Coltrane, Lorelei Linklater.

Sundance Institute 

Founded by Robert Redford in 1981, Sundance Institute is a global, nonprofit cultural organization dedicated to nurturing artistic expression in film and theater, and to supporting intercultural dialogue between artists and audiences. The Institute promotes independent storytelling to unite, inform and inspire, regardless of geo-political, social, religious or cultural differences. Internationally recognized for its annual Sundance Film Festival and its artistic development programs for directors, screenwriters, producers, film composers, playwrights and theatre artists, Sundance Institute has nurtured such projects as Beasts of the Southern Wild, Fruitvale Station, Sin Nombre, An Inconvenient Truth, Spring Awakening, Born into Brothels, Trouble the Water, Light in the Piazza and Angels in America.

While you're visiting Utah for the Sundance Film Festival, why not tour some of the amazing homes for sale in the area. Please browse our listings at www.allparkcityhomes.com. Need assistance purchasing the perfect Park City resort property? Call or text Joel Carson at 801-673-3333 today.

Park City Resort Celebrates 50 Years

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 'Salesperson of the Year'

Park City Mountain Resort opens Nov. 23. Get ready! This season is going to be epic because the resort is celebrating its 50^th anniversary.

The celebration will last throughout the 2013-14 season and (like everything else in this golden community) it is going to be grand. If you lived in Park City, you’d be home by now.

One of North America’s great ski towns, Park City will host the huge announcement of the first-ever U.S. Olympic Freeskiing team in January 2014. The announcement will follow the team’s final qualification event – the Visa U.S. Grand Prix – for halfpipe and slopestyle to prepare for the Sochi 2014 games. Now would be a fantastic time to purchase a Park City investment home, or a Park City vacation home if you love to be right in the center of the action.

The resort has dubbed this, “A season fifty years in the making.” Recent controversy surrounding the resort over legal lease issues makes this a very important public relations event for the resort and the entire community.

The resort’s anniversary kickoff party will start with a ribbon-cutting ceremony. The resort first opened in 1963 as Treasure Mountains Resort. Many people will be hunting for treasure at the resort during the kickoff on Nov. 23 in the form of one-of-a-kind mementos the resort says it will give away all day.

Following is a list of events as described by the resort on its official website:

9 a.m. sharp: The lifts begin turning! Each person on the 'First Chair' at all lifts open on Opening Day will receive a commemorative 50th Anniversary t-shirt. Hot beverages and snacks will be available in the Plaza.

2 p.m.: Aprés Concert on the PayDay Deck with the Motherlode Canyons Band, part of the Miller Lite Après Concert Series.

While you’re in Park City, why not tour some of the fabulous homes for sale there. Take time to browse through our listings at www.allparkcityhomes.com. Mark a few favorites and then contact me to schedule a private showing. It’s going to be a great season, why not enjoy it from the comfort of your own Park City home?

Haunted Salt Lake Homes Come to Life

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 'Salesperson of the Year'

Looking for a haunted Salt Lake City home? They’re not hard to find! This year autumn winds have blown a wide variety of spooks into Northern Utah and for now, at least, they’re occupying homes along the Wasatch Front. Honestly? I don’t recommend buying these haunted houses; but if you’re up for a good Halloween scare, you might want to stop in for a guided tour.

Following is a list of the top three Northern Utah haunted houses as ranked by viewers on HauntWorld.com.

#1-Castle of Chaos

5576 S Redwood Rd Taylorsville, UT Phone: 801-904-2270 Email: info@castleofchaos.com

1100 W. Riverdale Rd. Riverdale, UT 84405

168 E. University Pkwy Orem, UT 84058

In 2011 The Travel Channel named The Castle of Chaos “One of America’s Scariest Halloween Attractions. The horrific crew has been terrorizing its victims for more than a decade. There are now three Castle of Chaos haunted Salt Lake Area homes to entertain you!

The largest of the three Castles of Chaos is in Taylorsville. It features “five levels of fear” and boasts a “Buried Alive Coffin Slide.” It also features five levels of, uh, fun?

Level 1 – The Mansion
Level 2 – The Caverns (new)
Level 3 – Nightmare in 3D
Level 4 – Chaos Asylum
Level 5 – X-Scream™ Dungeon

This haunted house is said to be so scary you have to sign a waiver just to enter.

#2-Zombie Apocalypse               

4425 N. Thanksgiving Point Way
Lehi, Utah 84043
Phone: 801-768-4000
Email: info@zombieutah.com

What could be more fun than a Zombie Apocalypse? This Lehi, Utah house was ranked second by HauntWorld.com fans. Why? Zombies have moved into the XSI Sports Factory at Thanksgiving Point this Halloween season and that could present a real problem for the Wasatch Front. Are you prepared? Most fans of this fun attraction agree on one thing: zombies eat brains. What a way to get in the mood for some frightening fun this year.

#3-Nightmare on 13^th

300 W. 1300 S.
Salt Lake City, UT 84115
Phone: 801-467-8100
Email: tbarber1234@gmail.com

This house of horrors boasts 13 levels of fear! According to the spooky house’s website, “You are traveling to another dimension; a dimension of fear and screams. In this journey you will encounter your most recognizable fears: cannibalistic clowns, demons of hell, rotting corpses of the grave and slithering serpents from the dark depths.” Sounds like a good time, huh?

While you’re out celebrating the spirit of Halloween, take time to check out some un-haunted Salt Lake City homes for sale! We have plenty of homes on the Wasatch Front Regional Multiple Listing Service that are completely spook-free!

Feel free to browse our website www.allutahhomes.com 24/7 where you will find photos, directions and detailed information about all kinds of great Utah homes for sale.
I hope your Halloween is a happy one!

$25 Benefit Days Lift Tickets to Ski Park City

(file photo: Park City Mountain Resort)

News from Park City Mountain Resort

Park City, UT - A limited number of specially priced $25 Park City Mountain Resort (PCMR) Benefit Days lift tickets are now on sale at the Park City Museum, Park City Mountain Resort and select retail locations in Park City and Salt Lake City. These lift tickets must be purchased in person, are limited to a maximum of four to a person, and are valid from opening day through December 20, 2013.

All proceeds from this year’s Benefit Days ticket sales will go directly to the Park City Museum, dedicated to preserving, protecting and promoting Park City’s rich history and heritage. Since 2003, PCMR’s Benefit Days sales have raised more than $550,000 for non-profit organizations in the Park City area.
“We’ve shared a close connection with the Park City community for 50 years, and Benefit Days is a special way for us to give back,” said Jenni Smith, president and general manager of Park City Mountain Resort. “As we reflect on the last half century and celebrate our Golden Anniversary, the Park City Museum – with its mission of preserving Park City’s rich history – is the perfect beneficiary this year.”

“The Park City Museum is delighted to be named this year’s recipient of Benefit Days lift ticket sales, “ said Executive Director Sandra Morrison. “Proceeds from Benefit Days support our exhibit ‘Mines to Moguls: 50 years of Park City Skiing’ which celebrates the resort’s history. Proceeds also benefit 1,200 Park City school students scheduled to explore this exhibit through free field trips.”

On display November 22, 2013 through May 2014; the Park City Museum’s “Mines to Moguls” exhibit explores the resort’s history from its opening in 1963 to its subsequent expansion, the resort’s development as a world-class racing venue, the introduction of snowboarding to the mountain, and its turn as the world’s host during the 2002 Winter Games.

Benefit Days tickets are available for purchase at the Park City Museum, Park City Mountain Resort’s Resort Services Office, Jans and Cole Sport retail locations in Park City, and Sports Den in Salt Lake City.

Park City Mountain Resort is scheduled to open for the season on November 23.
___________________________________
The preceding information was released by UtahSkiandSnowboard.com on Oct. 11, 2013.

Park City is a fabulous resort community in Summit County on Utah's Wasatch Back. If you're ready to buy the perfect vacation home, browse listings for Park City homes for sale at www.allparkcityhomes.com 24/7. You'll find photographs, detailed information, maps and more!

Hints of Settlement Talks by Park City Mountain Resort, Talisker Land Holdings, LLC Surface

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 'Salesperson of the Year'


It sounds like Park City Mountain Resort (PCMR) and Talisker Land Holdings, LLC have come together to at least talk about the high-profile lawsuit that has had the two companies (as well as their parent companies and associates) entangled in battle for at least 17 months, according to a Sept. 27 Park Record article by journalist Jay Hamburger.

Just a brief recap for those of you who are new to the frustrating situation brewing in and around our state’s world-class ski resort: PCMR, owned by Powdr Corp. occupies property in Summit County, Utah currently owned by Talisker. PCMR has leased the property for decades and has invested millions of dollars in improvements to better the resort. Talisker claims PCMR missed its deadline to renew the long-standing lease. PCMR claims the intention to renew the lease was clearly expressed. When lease negotiations broke down, Talisker turned to Vail Resorts. Vail operates nearby Canyons Resort. The Park City resort operator claims Talisker wronged PCMR by negotiating with Vail on the lease of property just below the Park City resort. It appears Vail is poised to take over the Park City Resort in the event PCMR is ousted.

According to the Park Record, 3^rd District Court Judge Ryan Harris participated in a telephone conference with representatives of Talisker and PCMR on Sept. 26 during which hints of confidential settlement negotiations were made repeatedly. This comes after PCMR won two major legal battles including the right to keep private important client/attorney emails exchanged between the company and its attorneys at the time the lease was due for signing.

PCMR was also recently granted the privilege to revamp a lawsuit filed against Talisker with new charges that the land owner negotiated with Vail and ignored PCMR’s first right of refusal. The recast lawsuit came in under seal. Hamburger wrote, “A second version of the 23-page lawsuit was filed shortly after the conference with approximately three pages blacked out, or redacted. The sides did not object to the release of the second version with the approximately three pages kept private. The original version is the official document, though. The redacted pages involve 17 sentences or short paragraphs.” In late 2012, Harris dismissed parts of the case, and his recent decision allowing PCMR to expand the case was a major victory for the resort, Hamburger said.

Talks of a settlement come as a little bit of a surprise. The battle has been heated and bitter.
The new lawsuit reportedly added new parties as defendants United Park City Mines Company and Talisker were both named in the original case which now includes new defendants:

• VR CPC Holdings, Inc.
• Flera, LLC
• Talisker Canyons Leasco, LLC
• Talisker Canyons Finance Co, LLC
• 10 unnamed corporations

If you’ve been following this case, I think you’ll agree the new developments are fascinating. There a lot riding on the end result for the star-studded community and obviously for all the corporate players ready to tangle over what has become an incredibly valuable property with a golden reputation.

Park City condos, Park City vacation homes, cabins and Park City executive homes remain among some of the most sought-after properties on the Utah market today. Please browse the many available properties at www.allparkcityhomes.com

Thumbs Up for 2013 Third Quarter Home Sales Statistics

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 'Salesperson of the Year'

Utah home sales showed continued improvement during the third quarter of 2013 when compared to the same period of time in the three years prior. Sales increased by 10.05 percent and the median sold price jumped 12.99 percent, according to the Wasatch Front Regional Multiple Listing Service.  Inventory increased in the third quarter and homes sold 30.95 percent faster.

Utah Home Sales Steadily Increase
Compared to the 9,874 Utah homes sold in the third quarter this year, 2010 sales look bleak—only 5,935 homes sold in the third quarter that year. In 2011 sales increased 28.59 percent to 7,632. Sales in 2012 increased 17.56 percent over the previous year (8,972). This year’s sales demonstrate a steady long-term increase with a 10.05 hike over 2012.

Median Home Prices Continue to Climb in Beehive State
In the third quarter of 2010 the median home price was $195,000. That price dipped by 10.77 percent in 2011 when the median home price was $174,000. By 2012 Utahans had begun to see a slight increase in the median home price; it was up 6.9 percent over the previous year at $186,000. This year the third quarter median home price is 12.99 percent higher than it was in 2012 at $210,153. This is an encouraging sign of improvement in the housing market here overall.

Utah Homes for Sale are Selling Faster
In the third quarter of 2010 home sales were dragging. The current days on market (CDOM) was 77. Homes started to move a little faster in 2011 when the CDOM dropped 3.9 percent to 74. In 2012 Utah home sellers saw a 43.24 percent improvement when the CDOM dropped to 42. This year? The CDOM is at the lowest it’s been in years at 29. It could be home buyers are recognizing the likelihood that interest rates will go up as the jobless rate goes down. Some are worried about low inventory; although new listings are up 23.95 percent this year over last year’s third quarter. Others want to take advantage of low prices while they last.

Inventory Holding Steady
Home sellers must be feeling better about the housing market as more and more homes are being added to the statewide inventory; more homes were listed during the third quarter this year than were listed for the previous three years.

In 2010 a total of 1,5040 homes were listed in the third quarter with a median asking price of $194,900. Of those new listings, 39.46 percent sold.

In 2011 new listings dropped by 14.29 percent. A total of only 12,891 homes were listed with an even lower asking price (2.57 percent lower) of $189,900; 59.20 percent of those listings sold.

By 2012 the inventory situation was starting to look a little bleak. New listings dropped further in the third quarter (-1.42 percent). The median asking price was higher than the year before (5.32 percent) and a whopping 70.60 percent of the third quarter new listings sold. This year, listings were up 23.95 percent higher than those in the previous year; 15,752 homes were listed with a median asking price of $227,900; 62.68 percent of the new listings sold during the third quarter this year.

The bottom line? We’re seeing more homes sell for more money at higher prices than they have since 2010. These are all healthy indicators.

It remains to be seen what kind of impact the government shut down will have on fourth quarter sales. I’ll be here watching and will report information to you as it becomes available.
If you’re ready to buy a new home in Utah, call me today at 801-673-3333. Feel free to browse our fully searchable inventory at www.allutahhomes.com any time, 24/7.