About Summit County, UT

The Park City real estate market currently has more than 200 homes with list prices over $200 Million. Ultra high-end luxury properties are more the norm than the exception. Ski-in ski-out homes at The Colony at The Canyons Resort, Deer Crest, Upper Deer Valley; as well as golf course homes in Glenwild, Tuhaye and Promontory often see price tags of $5 Million and above (there are 60 such homes on today on the Park City MLS). There is a listing among these that definitely stands out; the home at 5000 Royal St. in the Upper Deer Valley section of Park City, UT has an asking price of $55 million.

This price makes the home the only one on the market at over $20M. What makes this Park City luxury home worth so much more than anything else in Park City and Deer Valley? The home has all of the features that one expects of a luxury residence in Deer Valley or Park City. The residence is over 20,000 square feet; includes 12 bedrooms, 16 baths and custom built furniture throughout. The gourmet kitchen combines elements to make a professional chef feel at home while still being a comfortable living area. Outside spaces offer great functional areas amid the pines away from nearly any city feel. A large recreation room provides a location for hours of gaming fun while an indoor pool and hot tub make for alternative recreation to the outdoors. The attached garages provide ample capacity for transportation. The views of Park City from the property's hillside location are spectacular. The location of 5000 Royal St, while not slope-side is not far off the slopes at Deer Valley and minutes from Historic Main St. Park City. None of these things are uncommon among Park City and Deer Valley luxury resort residences. What 5000 Royal St offers that others do not is: a private 60+ acre estate, this size alone is something that truly sets it apart; the fact that it is so central to Park City makes it absolutely one-of-a-kind. While it would be a shame, there may be the ability to subdivide portions of the property. Another unique attribute is the attached heated garage capable of storing and exhibiting a car collection of 20 or more vehicles. The main home is surrounded by 3 acres of fenced and landscaped grounds.

The construction and materials of this luxury Park City estate complete a story. The home was built with logs reclaimed from the Yellowstone park area of Wyoming. The timbers are the structural integrity of the home as no steel beams are incorporated. This is truly "old world" craftsmanship which took years to complete. The western feel and rustic finishes are authentic and irreplaceable. The Huntsman family has many fond memories of the estate. The residence at 5000 Royal St in Park City has been an escape for Governors, Heads of State and Prime Ministers from around the world. The price of the home makes it stand apart from other multi-million dollar homes in Deer Valley, Park City, Utah or the world, but what it offers may justify the price.

Written by: a YouInParkCity.com Park City real estate professional.

Looking to increase the energy efficiency of your existing Park City home or business? Are your Questar gas bills through the roof? Let Alamo Infrared Energy Audits and Home Inspections inspect and evaluate your Park City, Utah home or business. Our modern equipment can evaluate and determine the air tightness of your new home. Leaky windows and doors as well as missing or insufficient insulation can only be detected using high performance blower doors and infrared cameras. For more information visit our website: www.utahenergyaudit.com www.umrt.com

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Looking to increase the energy efficiency of your existing Jeremy Ranch home? Are your Questar gas bills through the roof? Let Alamo Infrared Energy Audits and Home Inspections inspect and evaluate your Park City, Utah home. Our modern equipment can evaluate and determine the air tightness of your new home. Leaky windows and doors as well as missing or insufficient insulation can only be detected using high performance blower doors and infrared cameras. For more information visit our website: www.utahenergyaudit.com www.umrt.com

Alamo Infrared is the oldest and largest energy auditor for homes, businesses and government buildings in the Rocky Mountain West.

Looking for an energy efficient home in the Glenwild area of Park City, Utah? Let Alamo Infrared Energy Audits and Home Inspections inspect and evaluate your new home. Our modern equipment can evaluate and determine the air tightness of your new home. Leaky windows and doors as well as missing or insufficient insulation can only be detected using high performance blower doors and infrared cameras. For more information visit our website: www.utahenergyaudit.com

Alamo Infrared is the oldest and largest energy auditor for homes, businesses and government buildings in the Rocky Mountain West.

Silver Strike Lodge at Empire Pass, Park City, UT

The auction of eight Silver Strike Lodge condominiums at Empire Pass in Deer Valley was held on Sunday January 17^th, 2009. The developer (Ironwood) considers the results of the auction a success. The auction was attended by 32 prospective Buyers and lasted approximately one half hour. All eight units were sold and a ninth was sold a day later by the developer.

The developer auctioned the units and was not forced to do so by the bank. Sales within the Silver Strike condominiums had been reduced to one in the past 12 months after a relatively successful grand opening and early sales in 2008. Original pricing and recent sales had the price of Silver Strike at Empire Pass averaging well over $1000 per square foot. Prior to the auction, the prices at Silver Strike were approaching $1400 per square foot. Prices at auction for the Silver Strike units averaged approximately $760 per square foot.

The Silver Strike at Empire Pass condominium developer plans to offer the remaining units of developer inventory at the per square foot price of the auction. This represents a discount of approximately 40% from previous pricing. Currently there are 60 other condominiums listed for sale on the Park City MLS that are in the Empire Pass at Deer Valley area. Only 10 of the 60 condominiums for sale in Empire Pass have an offering price under $1000 per square foot.

The local Park City real estate market has Buyers that were waiting for the results of the auction to see what prices may reset to in the area. Whether or not the sellers will respond is yet to be seen. The fact that there were only 32 bidders at the auction which was heavily promoted might indicate that there are still relatively few Buyers in the marketplace. Most area REALTORS® feel that Buyers are coming back into the Park City Luxury Resort and Second Home market, the auction may be the impetus for renewed interest in ski-in ski-out homes in Park City.

For more information contact a YouInParkCity.com Park City real estate professional.