Blog

Our subject matter is largely made up of questions we are asked by clients and other individuals considering Park City as a place to own or to visit. Most of the questions we are asked pertain to our Golf and Ski communities, but we welcome any questions relating to the Park City market or any real estate topic. We will address every question honestly and answer to the best of our ability. We respect our competition but we don’t shy away from discussing differences in product and services when asked. In addition to answering your questions, we enjoy sharing stories of our clients successes, open houses and Golf, Ski and community events of significance.

 

Best of Tuhaye and Talisker

By Darrick Olsen
Oct 05, 2015

Owners of Park City/Deer Valley second homes and ski condos, who have enjoyed Park City/Deer Valley as their second home and their family ski vacation tradition, are deciding now that the kids are grown, this is the place for mom and dad to make their primary residence.   With the new golf clubhouse open and operating, Tuhaye is the ideal family community to reside, continue the family tradition for more generations and have the best of both worlds - The Talisker Club at Empire Pass and The Mark O'Meara designed Tuhaye Golf Course.

Our new listing at 9945 N. Timpanogos Court is Prominently situated on one of Tuhaye's hilltop sites this home has views of the Mark O'Meara golf course and Deer Valley Ski Resort. This 5 bedroom, 7 bathroom  home has a large open area and more intimate spaces to capture the spectacular views.  The luxurious finishes include materials used from a varied palette and enhance this very functional and easy flow floor plan.  The kitchen and culinary facilities allow for intimate family dinners and entertaining for groups. Every room in the house invites guests to relax. Includes furnishings and state of the art Meridian theater and electronic equipment.9945 N Timpanogos Circle Kamas-MLS_Size-001-1-019945TimpanogosCir01-1800x1200-72dpi9945 N Timpanogos Circle Kamas-MLS_Size-004-5-039945TimpanogosCir03-1800x1200-72dpi

It's all about Timing - Real Estate, Golf & Prom

By Darrick Olsen
May 13, 2015

Yogi Berra put it well, "You don't have to swing hard to hit a home run.  If you got the timing, it'll go".   Those words can also be applied to real estate, golf and asking a girl to Prom.  Park City High School Senior, star basketball player and not too shabby golfer, Logan Holbrook, has the right idea about all three.   It's all about timing.  From the tee box in this photo, Logan confidently hit eight golf balls into the back yard of the girl he asked to Prom - May I Take You To Prom From Logan - one word on each ball.  His timing was perfect.  Of course, his Realtor found the right house.

Swinging For Prom Teeing Off For Prom

The timing for golf properties at Jeremy Ranch, Victory Ranch, Glenwild, Park Meadows, Red Ledges and Promontory is perfect.  The number of new construction starts for luxury custom homes is still increasing.  I spoke to one excavator, who has more than 50 holes to dig.  All are in one of the superior private golf communities located in the Park City/Deer Valley area.

For the first time in quite a few years, on June 20th, Promontory will be holding a launch for new developer lots.  The prices will be between $560,000 and just over $1mm.   Along with the Nicklaus Hillside Village model homes, the Grand Opening of the Nicklaus Painted Valley clubhouse will be held.

This is one of those opportunities that not only will a buyer need to time perfectly, they will need to have all the relevant  information, as well.  Logan had the timing.  How did he find the right location?  Promontory is a superbly planned community that has been approved for almost 1,900 units.  What's new?  What's the best of the new?  What are all the nuances associated with a developer launch?   What Promontory product may fit your needs just as well, if not better?  Which Private Golf Community is the best fit for your particular lifestyle?   How do you get all Luxury Golf Community information?  Which Realtors know all the golf product in the Park City area?  Who has the information that is most valuable to you?

Trabaccone-Olsen    The only two names you need to know.

My friend needs a realtor. Will you...YES!!

By Darrick Olsen
Feb 28, 2015

During the past week, we have been previewing homes, in order to do a market analysis for a new client, who was referred to us by...well, we don't drop names - let's just say an existing client, who

Every Thing You Need Every Thing You Need - $3,800,000

paid us the compliment of another referral.  And, we are sharing this valuable information with you.   Our new client is interested in private communities that are about 15 minutes from  Old Town Park City and 30-40 minutes from the Salt Lake City International Airport.   Their price point is above $2mm.  We conducted our research in the  requested communities.  We found that the listing and sales prices for 2014 increased over 2013.   For 2015,  sales of homes priced $2mm and up are on the rise.   Ask and we'll send you our list of the homes,  we have toured and have determined are very good values.

  Here is an example.  In the Talisker community of Tuhaye for 2014 the highest sales prices were achieved by two of our listings.  In January 2014, our listing at 10050 N. Uinta Drive sold for $1,850,000.  In October 2014, our listing at 9885 Timpanogos Court sold for $1,850,000.   "Yesterday's ceiling is tomorrow's floor".   As of February 2015, there is a pending sale in Tuhaye - a gated, private golf course community - with a listing price of $2,495,000.  Our sources indicate that the sales price is definitely above the $2mm mark.   Stay tuned.
For the past three years, a gradual and consistent stair step increase in listing and selling price has been the indicator not just of a recovering market, but also validation of a stable and improving real estate market.  Combine that validation with decreasing  inventory,  increasing demand and the current projections for consistent population growth in and around Park City, Utah...there isn't one person reading this, who needs me to explain more.   But, I will.  Contact me.
 

Fall Golf

By Joe
Sep 15, 2014

The best weather, fall colors, easy tee times everywhere. What else would one want? Eight public golf courses in and around the Park City area with prices at $38 to $50 per round with a cart. Want to walk? Save yourself $14. In the Midway/Heber area try Wasatch Mountain and Lake courses, Soldier Hollow Silver and Gold courses. Homestead Resort's Crater Springs Golf Course. In Park City and just below Parley's Canyon are the Park City Municipal Course, Mountain Dell Mountain and Lake courses.

 

Beautiful Fall Colors at Wasatch Mountain State Park Lake Course. Beautiful Fall Colors at Wasatch Mountain State Park Lake Course.

What more could one want? What more could one want?

Wasatch Mountain State Park Golf Course Wasatch Mountain State Park Golf Course

 

Results of the Annual Tuhaye Club Golf Championship

By Darrick Olsen
Aug 27, 2014

J. Patrick Prothro, Tuhaye Gross Champion and Eric Hastings, Tuhaye Head Golf Pro J. Patrick Prothro, Tuhaye Gross Champion and Eric Hastings, Tuhaye Head Golf Pro

Held at the Tuhaye Golf Course, the 2014 champions are Pat Prothro, who won the gross and Bill Reed, who won the net.  The course was in excellent condition and played well.

The Tuhaye Golf Club house construction is still underway. The windows and doors are being installed, with the opening date planned for the winter of 2014/2015.

Interest in Tuhaye homes and building lots continues to increase and is expected to transition into increased sales.

Red Ledges Real Estate Market

By Darrick Olsen
Aug 25, 2014

The Park City Board of Realtors luncheon was held at Red Ledges on Aug 21, 2014. Sales at Red Ledges are robust. Both vacant land and single family homes are selling well. Driving through Red Ledges, it was exciting to see all the new construction and completed homes. Although the Jack Nichlaus signature course is one of the tougher courses in the area to play, the weather was mild and the golfers we spoke with were very pleased. Red Ledges is one of many Private Golf Club Communities. We would be pleased to assist you not only with our expertise of Red Ledges, but the Private Golf Communities of Victory Ranch, Tuhaye, Promontory and Glenwild, as well. As one famous art dealer put, "An artist does not necessarily know his best work. That is why you consult with an expert". We feel this same theory applies to local Real Estate. Let our expertise help you find the hidden jewel. - Click here to read more!

Tuhaye Member-Guest 2014

By Joe
Jul 30, 2014

Tuhaye Member Guest Winners

Kyle Arnold and Guest Overall Winners

 

The Tuhaye Twin Feathers Member-Guest tournament was held this past weekend. It was a three day event full of fun and excitement with a playoff that was spectacular. Usually, three holes determine the winner but this year five players went for the green on the 9th hole (Par 4) with their tee shot. Two shots landed within 8-12 feet from the hole. The tie for first place continued with four more holes where Kyle Arnold and his guest finally won. Pat Prothro missed a three foot put to take second with his partner, Jeff Keye.photo 3photo 2

SECOND QUARTER STATISTICS – SOME GOLF COMMUNITY TRENDS

By Darrick Olsen
Jul 18, 2014

Looking through the just released second quarter Park City Board of Realtors statistics, we found some interesting data relating to some of our gated golf communities.

Promontory: It was no surprise that single family continues to be strong at Promontory, but the recent performance of high-end building lots caught our eye. Many potential home buyers seem to favor custom build projects vs. the purchase of existing inventory. We see price as one factor but also Promontory is seeing a big move to contemporary design. These buyers are finding great value in building sites that feature golf course frontage and big views. Prices of high-end lots are moving up and activity is increasing. There are still a few homes available at less than replacement cost and the cabin product is strong with 12 cabins currently pended.

Glenwild: Lot prices are steady and lot activity is up. Lot prices still make it possible to build custom homes at prices competitive with existing resale inventory and resale single family prices are moving up with list prices starting at $1,799,000.

Tuhaye: Building lot activity is down, but prices are up reflecting buyers preference for top quality lots vs. the lowest priced lots. With only 15 resale single family homes now available – all listed at below replacement cost – existing single family at Tuhaye is certainly a high value opportunity with prices starting at $915,000.

The Golf Season

By Darrick Olsen
May 27, 2014

Question:

How long is your golf season and do the gated golf communities shut down when the golf season ends?

Answer:

Our golf season generally runs from May to October- so a little over 6 months. Our cool, dry mountain summers have proven very attractive to golfers from Arizona, Texas, and the South who contend with heat and humidity during those months. You will like how much better your driver works at this altitude. Based on the ever expanding list of activities available at the gated golf communities, the 6 months of the year without golf are packed with activity – no sign of a shut down. We are a true four seasons climate with beautiful fall colors, world famous winters (our long time tagline of “world’s greatest snow” is no exaggeration) as we proved to the world as host of the 2002 Winter Olympics. In spring, if you don’t like the weather, just wait a minute. The Talisker Club has world class mountain facilities at Deer Valley, Promontory has a members ski lodge at Deer Valley and the other golf communities feature ski/winter sports programs. Club facilities including fine dining and children’s activities continue strong operations and members take full advantage of Park City’s winter/holiday season. Christmas and the Sundance Film Festival are prized events that draw many out of state owners to visit during the off season for golf.

How is the market for Golf property in the Park City Area?

By Darrick Olsen
May 23, 2014

Question:

How is the market for Golf property in the Park City area?

Answer:

Demand is strong in our market. The number of sales in our market is up 15.6% in the past 12 months. Medium prices have increased 2% in the past year and distressed sales were less than 6% of first quarter 2014 sales. Inventory declined 3.9% over the past year and is at historic lows since 2007. Having summarized the Park City Board of Realtors first quarter statistics, we should point out that our market is highly segmented and these numbers give only a crude answer to your question. We are working on more detailed statistics that focus on the 10 golf and ski communities we have defined and focus on. Our unsubstantiated feeling is that the golf communities are strengthening led by strong improvement in home site sales and prices (especially the high end) and a resurgence of new construction (custom vs. spec homes). Many high quality resales are still selling below current replacement cost.

 
 
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