About Park City's Glenwild

While things still look to be hot at Glenwild in the housing market, we are still seeing some good deals on lots in the development to acquire. Please contact me for more info on those robalday@yahoo.com or 435.729.0022.

In the past few days we have seen 64 properties come on the market, 14 go under contract, and 15 close. Of note:

NEW ON THE MARKET:
-Black Bear Lodge unit in Upper Deer Valley's Silver Lake Village at $2.195m; 4bd/6ba, 3575 sq ft, and $613 psf is not bad for Silver Lake....especially with being 50 steps to the slopes, and having conceirge service, a suburan shuttle, pool, and workout facilities.

-Ridgepoint townhome which is a fixer upper in Upper Deer Valley and has great views for $1.225m, 3bd/3ba, 2137 sq ft, and at $573 psf this could be a good investment with a little rehab.

-Aerie home at $1.598m; 4bd/3ba, 5862 sq ft, and at $272psf you would not be able to buy the lot and build this one for less that that...this one also has AMAZING views!

PRICE CHANGE:
-Parkwood Place condo in the Old Town development closes to the Town Lift raised the price on two of their preconstruction units by $50,000 on one and $390,000 on the other!

-Ontario Lodge unit in Upper Deer Valley that has been on the market a year has come down from $1.025m to $795k for a 3bd/4ba, 2019 sq ft condo....this guy must need OUT!

-Promontory spec home came down half a million dollars from $3.495m to $2.995m! This Sunset Ridge home is 5bd/7ba, 7800 sq ft, and at $383 psf is under valued at Promontory....could be a good pick up for the right person that wants Promontory for the long term.

PENDING:
-Deer Lake Village town home in Lower Deer Valley at $1.25m; 4bd/4ba, 2035 sq ft, and at $614 psf that is pretty strong for Lower Deer Valley prices.

CLOSED:
-Silver Bird condo in Upper Deer Valley that was a fixer upper at $900,000; 3bd/4ba, 2348 sq ft, and at $383 psf for Upper Deer Valley is drastic! This guy looked like he need to bail too.

(Just a side note, if you look at the two above transaction that sums up our market....in some places we are seeing strong numbers and in others there might be a fire sale. A total mixed bag.)

-4 Silver Strike units in Deer Valley's Empire Pass all at over $1150 per sq ft.

The big news around town is that President Bush is coming to town Wednesday and Thursday for fund-raising events for John McCain. Mr. Bush will be staying in Deer Valley at former Massachusetts Governor and former Presidential candidate Mitt Romney's home. Helicopters have been seen flying around town gearing up for the Presidents visit. One protest party, labeled the Bush Bash BBQ, has been scheduled at City Park.

Interest rates for fixed-rate mortgages fell slightly this week on news of both weaker industrial production in April and consumer sentiment falling in May to its lowest level since June 1980. The 30 year fixed rate fell to 5.98% from 6.01%....last year we were at 6.37% for a 30 year rate. Except last year lenders were actually lending!

Over the long weekend we saw 33 properties come on the market, 13 go under contract, and 5 close. Don't forget to check our blog at www.parkcitywire.com for some of the posts you see here as well as additional information.

Of note:

PENDING:
-St Regis unit at $2.8m; 1331 sq ft, 2bd/2ba....Over $2100 psf, that is huge for this market. St Regis is pulling higher prices per foot than Empire Pass as of today.
-2 lots at Tuhaye at $695k and $795k.....vacant land is a tough sell these days, but Tuhaye and Talisker are plugging along with a few sales here and there.

ACTIVE:
-Deer Crest Estate at $8.4m; 12477 sq ft, 6bd/10ba. This home is a must see for the buyer that needs it all and is willing to pull the trigger.
-Glenwild home for $5.995m; 8500 sq ft, 5bd/6ba.A splendid contemporary mountain retreat over looking the Glenwild golf course offers views, serenity, and comfort. This spectacular home exemplifies a level of excellence that serves as a foundation for the entire community. Among the exciting features in this 8500 sq ft exquisitely crafted home are a unique 2 story master with an on-grade walkout plus its own 400 sq ft balcony with spa hookup, custom compound curve exposed steel beams, stadium seat theater with 4 tiers, art sconces, and theater lighting, Italian tile and glass work throughout, Eucalyptus cabinetry, 1000+ sq ft of on grade entertainment space of the great room, and much much more.....