Rob Harris

The Chateaux at Silver Lake in Deer Valley is a fantastic option for people who are considering the purchase of a condominium in Deer Valley and want the potential for rental income. The home owners recently signed a contract with the Stein Eriksen Lodge to manage the property which, in my opinion, makes the future even brighter.

When a client is interested in generating rental income one of the key factors I look for is the ability for a property to generate revenue on a year round basis. Obviously the Chateaux at Silver Lake's location at mid mountain in Deer Valley generates winter revenue. But what about the spring, summer and fall? With over 9,000 square feet of meeting space the Chateaux has the ability to attract meetings, weddings and other special events throughout the year. Contracting with the Stein Eriksen Lodge will go a long way toward enhancing the perception of the Chateaux in the mind of meeting planners. Convention services, banquets and room standards will all go up a notch. Under the watchful eye of the Stein Eriksen staff the Chateaux's impressive amenities and services which include a large atrium lobby, on-site check-in, evening turndown service, concierge and bell services, complimentary wireless service in each guest room, outdoor heated pool and hot tub, fitness center, specialty shops, underground parking and a gourmet restaurant and lounge will all shine a little brighter.

Another asset that the Stein Erikson Lodge brings to the Chateaux is an experienced sales and marketing team. These people have been working for years developing relationships with groups that appreciate what Park City and Deer Valley have to offer and demand the high level of service and attention to detail that Stein's provides. This group will hit the street running and should have an immediate and positive impact on rental income for those fortunate enough to own a condominium at The Chatezux at Silver Lake.

Park Meadows Golf Real Estate in Park City

Park City real estate can boast of having many fine golf communities completed or nearing completion. These include Glenwild, Tuhaye, Promontory Ranch, Hideout Canyon, Victory Ranch and Red Ledges. Promontory features two courses, an equestrian center, club houses and numerous kids programs. Tuhaye has one course (plus another in the works), a ski boat on the Jordanelle Reservoir, many kids programs but is unique in that its membership includes the Talisker Club amenities at Deer Valley ski resort. Victory Ranch will have an exceptional course but what separates it from the other clubs is that it has private river frontage on the Upper Provo River and fantastic fly fishing, Red Ledges will open its Jack Nicklaus designed course 4^th of July weekend and will have world class tennis facilities and other amenities. Glenwild's crown jewel is its Fazio designed golf course. It is a golf country club type of community complete with workout room, restaurant and swimming pool. All of the above are gated communities.

I think Park Meadows Country Club, which often seems to fly under the radar screen, is worth considering when a family is deciding to purchase a primary residence or vacation home in a Park City and wants golf to be a part of their Park City lifestyle. It is not a gated real estate community and does not have many of the built in programs and amenities associated with these other clubs. On the other hand it is located within the Park City town limits which means all of the activities and amenities in Park City are readily available to families that purchase a home in Park Meadows and join the Park Meadows Country Club. Some of the amenities in Park City are the Racquet Club, the free bus system, the Skate Park and City Park. The Park City restaurants, clubs, events and shopping match its real estate in being world class.

Park Meadows Country Club, originally designed by Jack Nicklaus, was renovated last year by John Harbottle. Park Meadows has a swimming pool, restaurant and workout room. It is adjacent to the Park City Racquet Club and is part of the city-wide free Park City bus system, a real plus for getting kids to and from all that Park City, Utah has to offer.

No one knows what Park City real estate areas will appreciate more rapidly as we climb out of this recession but if I had to put money on it I would bet homes, condominiums and lots inside of the Park City town limits to bounce back more rapidly just based on the principle of scarcity.

If you are considering the purchase a home or condominium in the Park City or Deer Valley area and want to live on or near a golf course don't forget to take a peek at Park Meadows.

For more info on Park City Real Estate contact a YouInParkCity.com Keller Williams Park City Real Estate specialist.

Park City's New St. Regis at Deer Valley

Several clients have asked me if the new St. Regis at Deer Crest will be open for the 2009/2010 Deer Valley® ski season in Park City. After my tour yesterday of this amenity rich hotel I have to say I believe it will. Everywhere I looked I saw people working, over 400 of them in fact. The 100% wool carpet is going in; kitchen equipment is being hooked up for the banquet kitchen as well as Chef Jean Georges new restaurant. The final touches are being added to features like the waterfall, and the fire garden (my name for it) next to the "ski beach" slope-side pool area. After watching the steady progress over the last couple of years all of the pieces seem to be coming together for the Park City and Deer Valley ski season opening.

Another question I can now answer is: what justifies the price? The condominium and residence units will be appointed at least as well as the other newer luxury homes and condominiums in the Canyons, Empire Pass, Old Town and Upper Deer Valley. I didn't see a residence or condominium without a fantastic view; even those on the first level appear to be about forty feet above the Deer Hollow ski run and look up to other ski runs. But when one considers the Five Star Services and amazing common area which owners of the Residence and Condominium units will include the price seems in line. In my opinion this will be one of the finest real estate offerings in Park City or Deer Valley.

Granted Park City Real Estate has experienced a down turn but I think scarcity will play a role in these condominiums and residences bucking the trend. If you want the level of service, the on hill location and the common area amenities that the St. Regis offers there are only 32 units still available, 8 residences and 24 condominiums. I can't help but think there are 32 more families out there that will see the value in this exceptional project.

For more information on the St. Regis and other Park City and Deer Valley real estate opportunities please contact us.

Rob Harris - YouInParkCity.com

In Park City and Deer Valley, Utah summer is here, well almost, and the lift assisted mountain biking and hiking program at Deer Valley Resort which opens June 19^th will be a great way to see the beautiful mountain views, the wildlife and the wildflowers all of our spring showers will bring. You can see all of this without a lot of uphill hiking or riding. For more information on the Deer Valley Resort lift assisted hiking and biking programs see the YouInParkCity.com news release.

For the adventurous home buyer looking for that perfect Park City home or condo biking can also be a great way to see some of Park City and Deer Valley real estate and a few fantastic neighborhoods. With the lift assisted program you can easily visit Upper Deer Valley communities like Bald Eagle, Black Bear Lodge, the Chateaux at Silver Lake, Stein Erikson Lodge, Stag Lodge just to name a few. Continuing down the mountain to Lower Deer Valley it is an easy ride through some of Park City's great communities like Solamere, the Lodges at Deer Valley, Silver Baron, Pinnacle, Fawngrove, Deer Lake Village, Black Diamond Lodge and many others. If you have the energy, just continue downhill into Old Town where you can visit one of the fine restaurants for a light lunch for a well deserved beverage before continuing on to Prospector Square, Park Meadows or Thaynes Canyon.

Park City is, for many homebuyers, as much about lifestyle as it is about the home or condominium you purchase. Some of the communities are gated and if you want to get into tour individual homes or condominiums you will need a REALTOR®. So, if you want to take a ride and visit some great Park City homes we are offering our services (think of it as a summer ski tour). Just contact us and let us know you want to do a Deer Valley or Park City home tour on bikes and we schedule some time with you.

Park City real estate, like else where in the country, is experiencing a buyers market. Most of the people I have been working with lately are in search of a "great deal". To many people this means a property that is priced below previous sales. This is certainly one element to consider but we have also been finding value in another area; the remodeled property that is priced at or just slightly above previous sales.

When the market was in its frenzy with multiple offers and not enough sellers many people saw the increased equity in their Park City home or condo as an opportunity to renovate their home. Investors jumped into the market with the intent to buy, fix and flip a unit. But markets change and some investors entered the market at the end of the cycle. As a result there are properties in most areas that have undergone extensive renovations and can be a much better value than one that is just "priced to sell". You may be able to buy that "fixer upper" at a discount but after your remodel will you still come out ahead? The answer is often no.

We think you can find some strong values in investor owned properties. These people, while seeking to maximize their returns, may be willing to break even or sell at a loss in an effort to free up their cash and "keep their money working" via other investment opportunities. Some people, myself for instance, who have remodeled their primary residence will usually decide to stay put unless they have to relocate for work. See blog post of April 21, 2008

The advantage of buying remodeled homes and condos is two fold. If you decide you want to own it long term you don't need to do much to bring it up to today's standards; it already has the granite counter tops, fresh paint, new carpet and nice cabinetry. So, when the market moves up and you decide to sell the property it will be positioned ahead of those that have not undergone the renovation. In the interim, you don't have to do the work and/or live in a construction project.

So when you are having the http://www.youinparkcity.com/ group help you find a best buy in the Park City real estate market don't be surprised if one of the opportunities we uncover isn't necessarily the least expensive.