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Rob Alday & Rachel Peterman

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It’s Snowing! PC Market Update!

12-15-08
Rob Alday & Rachel Peterman
Over the last few days we have seen 43 properties come on the market, 7 go under contract, and 7 close escrow. Of note:
Snowy Main Street Park City
ACTIVE:
-Deer Valley home in the Oaks at $3.55m; 5bd/6ba, 6752 sq ft, $526psf.
-Arrowleaf unit in Empire Pass at Deer Valley for $2.575m, 3bd/4ba, 1802 sq ft, $1428psf….Deer Valley is still holding its value relatively well.
-Chatham Hills home at $1.475m; 4bd/5ba, 4089 sq ft, $360psf….this is a great location!
-Glenwild lot at $569,000….inventory is growing all over the place.
-Tuhaye lot at $725,000.
PRICE CHANGE:
-Old Town home down $800,000 to $1.75m; 4bd/4ba, 2307 sq ft, $759psf…starting to look like a fair deal.
-Empire Ave home down $650,000 to $1.295; 4bd/5ba, 2400 sq ft, $540psf…..this is a great deal if you want to be near Park City Mountain Resort!
-Park Meadows townhome down $240,000 to $625,000; 3bd/4ba, 2815 sq ft, $222psf….great deal here.
PENDING:
-Silver Star unit at $1.5m; 3bd/4ba, 1998 sq ft, $750psf…these things continue to move.
-Old Town home at $2.199m; 5bd/6ba, 3300 sq ft, $666psf…nice location and PPSF for the Buyer.
SOLD:
-Deer Valley home in Hidden Meadows at $1.375m; 4bd/4ba, 4305 sq ft, $319psf…nice buy!
-Promontory Cabin at $1.583m; 4bd/4ba, 4448 sq ft, $355psf….good to see any action at Promontory.
-Promontory lot at $427,500.
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The Snow is Coming Down in Park City

12-15-08
Rob Alday & Rachel Peterman

why aren't you here?

why aren't you here?

There’s TON OF SNOW COMING DOWN IN PARK CITY…..RIGHT NOW!!!!

From where I sit at my desk, I look directly at the base of Deer Valley and onto the Snow Park area of the resort. The white stuff has been falling consistently all day so far and it’s not a little duster….it’s a white-out!

The skiing this past weekend at Deer Valley was great but now that we’re finally getting the snow we need, the best part of the season is approaching!

So if you’ve been dreaming of whooshing down the perfect ski slopes in Park City, get your butt out here! It’s just exactly as you’ve been fantasizing ;)

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Park City Market Update

12-10-08
Rob Alday & Rachel Peterman
Over the past few days we have seen 51 properties come on the market, 14 go under contract, and 15 close. The high points are:
ACTIVE:
-Thanyes Canyon home at $799,000; 4bd/3ba, 2208 sq ft, $361psf….An amazing lot with great upside!
-Deer Valley lot in Hidden Meadows at $598,000….not too shabby of a price.
-Deer Crest home at $3.595m; 5bd/7ba, 8035 sq ft, $447psf….looks like a deal in Deer Crest!
-Chateaux at Silver Lake in Deer Valley unit at $1.485; 2bd/3ba, 1379 sq ft, $1079psf….seems really high on the ppsf! These units do rent like wildfire….but they will come down on price, as the market will determine what it is worth.
-Black Bear Lodge in Silver Lake at Deer Valley for $775,000; 2bd/2ba, 1409 sq ft, $550psf….this is right next door to the Chateaux unit (listed above) and is about half the price per sq ft!!! Which one would you buy? Black Bear is still a steal!!!
-Grand Lodge unit in Empire Pass at Deer Valley for $4.295m; 5bd/6ba, 3243 sq ft, $1324psf….it will be an interesting winter to see how the luxury ski in/ski out properties fair. Up unitl now, they have still done relatively well.
-Promontory lot at $499,000…this is a great lot for the price.
PRICE CHANGE:
-Old Town home near PCMR down to $999,000 from $1.295m; 4bd/4ba, 2435 sq ft, $410 psf….good deal for the right Buyer.
-Glenwild home down over $1m to $3.35m; 5bd/7ba, 8265 sq ft, $405psf…even the ultra-hot Glenwild has slowed!
-Promontory lot down from $699,000 to $250,000.
-Tuhaye cabin down $500,000 to $1.2m; 3bd/4ba, 3057 sq ft, $305psf….pretty good deal.
PENDING:
-Vacant Land in Old Town at $1.3m…this is a development parcel that could have a couple of homes built on it.
-Deer Valley unit at the Lodges at Deer Valley for $850,000; 2bd/3ba, 1407 sq ft, $604psf….these rent great too!
CLOSED:
-Sky Lodge unit at $228,000; 2bd/2ba, 1260 sq ft, ownership of one-eighth…these have really fallen off!
-Deer Valley lot at $1.175m.
-Empire Pass home in the Nakoma development at Deer Valley for $5.25m; 5bd/5ba, 6000 sq ft, $875psf.
-Promontory home at $1.5m; 4bd/6ba, 5968 sq ft, $251psf….nice pick up for the Buyer.
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A GREAT LOCAL DEAL - AT CHLOE LANE!!!

12-09-08
Rob Alday & Rachel Peterman

This is a post dedicated to a great local Park City boutique which is very close to my heart…I promise Rob will provide you with your Real Estate Market Update any time now, but in the meantime, don’t miss out on a great deal which Chloe Lane is graciously offering up this month!

Anyone who’s been to Park City knows that Chloe Lane is THE PREMIER PLACE to shop for fashion in this town…and - in this state - for that matter!

Chloe Lane is generously offering a $100 store credit to anyone who signs up for the Chloe Lane “Chloe Lane Rock Stars” page on Facebook. If you have a Facebook account, sign in and go directly to the “Calling All Rock Stars” page IMMEDIATELY!!!! Check this out and then join the Chloe Lane Rock Stars page

If you don’t have a Facebook account….where have you been? Living under a rock?!?! Go get yourself a login and get your butt over to Chloe Lane’s “Calling All Rock Stars” page and get yourself that free $100 credit!

Right now Chloe Lane has the most amazing inventory (in my personal and quite valid opinion) that they’ve ever had…the sheer amount of perfect holiday dresses and superior booty jeans will defy your every fashion dream! I’m not exaggerating people, I don’t want to hear about it in a couple weeks when you realize you missed out on this one…GO NOW - SIGN UP - GET YOUR CREDIT - AND GO TO CHLOE LANE (or…if you’re not lucky enough to be here in Park City before the credit expires on December 31st, feel free to go online to the Chloe Lane website at www.mychloelane.com and use it there!)

This is such a good offer - especially in tight financial times like these - the wonderful people over at Chloe Lane are being so nice to help us all out - it would almost be rude not to accept! You can use the credit for an outfit to impress your office at the company holiday party, or maybe something for Xmas with the boyfriends parents, or even a gift for your sister, your best friend, your boyfriend or your husband…any way you shake it - everyone comes out on top!

Here’s the finer details of this offer direct from the “Calling All Rock Stars” page:
Become a Facebook member of Chloe Lane Rock Stars by this Friday, December 12th and receive a $100 gift credit* to any Chloe Lane Store or redeem it online at www.mychloelane.com.** Already a Chloe Lane Rock Star, then you already have a $100 store credit on file with Chloe Lane. So invite your friends, family, co-workers and fellow Chloe Lane fans to sign up for Rock Star status!

*$100 gift credit redeemable with purchase of $200 or more, valid December 12-December 31, 2008. Not valid on SALE items.
** at mychloelane enter coupon code CLRS100
NOTHING TO ATTEND, ONLY NEED TO JOIN TO RECEIVE THE GIFT CREDIT.

…..still don’t get it?….Chloe Lane has a Facebook page called “Chloe Lane Rock Stars“, which as a loyal Chloe Lane shopper (you will be if you’re not already) you should become a fan of…we all have a little Chloe Lane Rock Star inside of us right?

So as the holiday season approaches, we hope all of our readers are enjoying our posts and the wonderful local offers like this one that we are so happy to offer. We’ll keep them coming as long as you keep reading and commenting on what we’re saying. Pray for more snow!

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A Little News on Promontory Bankruptcy

12-08-08
Rob Alday & Rachel Peterman


Alright folks, we seem to be at another lull in the Promontory bankruptcy hearings. Last week the Judge ruled that Promontory’s plan to sell the development via a 30 auction was not feasible and a sale would certainly take longer than 30 days. The hearing is scheduled to continue on December 11, and an agreement between Credit Suisse and Promontory on how the club will run after Jan. 31, 2009 will need to take place, because we are getting close to that date…..so it looks like the DIP financing will need to be extended, and possibly a longer auction period could be agreed upon.
We will keep you posted….other than that, our market is slow as everyone is preparing for ski season. Deer Valley opened this weekend and what better way to enjoy the world-class groomers than a blue-bird Utah day! We are getting snow as we speak (3:18 on Monday 12/8/08), this storm is to give us 6 to 9 inches and then we are expecting 12 to 16 inches over the weekend….THINK SNOW!

Look for a market update tomorrow.


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