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.

 

Sky Silver - A Cool Style Lounge

By Darrick Olsen
Jan 30, 2016

?Imagine sitting an open house in the coolest style lounge for Sundance 2016.  Once the Silver Queen Hotel, the upscale urban flats at Sky Silver offer the ultimate in Old Town Park City location and lifestyle.  Enjoy quick access to Park City's Main Street, Park City Mouskysilver and mainntain Resort via the Town Lift, Deer Valley Resort, restaurants, shopping and entertainment.  Designed by the Elliot Workgroup, the floor plans are sophisticated, thoughtful and encompass the historical elements of Park City.  The Penthouse has a rooftop terrace and is ideal for entertaining, lounging or enjoying a sunset.

 

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

Another Incredible Park City Summer!!

By Darrick Olsen
Sep 14, 2015

Samsung Photos 178PowellOur summer started one way.  After after we pulled it out of the ditch, it turned out to be incredible.  Here's to our new association with Engle & Voelker.

To all our past, current and future clients -

THANK YOU,  Darrick and Joe

Sundance 2015 Have You Ever Met A Celebrity At The Sundance Film Festival?

By Darrick Olsen
Jan 24, 2015

No.  I've never met a celebrity at the Sundance Film Festival.   I don't seem to recognize them, until the moment has past and somebody says to me, "Hey, that was...".   While eating at Redrock Cafe,  I've had dinner next to Cameron Diaz.   I didn't know, until the waiter told me.   At the Park City Market, I was in line behind Kevin Bacon.   I didn't know, until  the cashier asked, "Did you talk to Kevin Bacon?".    Coming out of the Sky Lodge, I walked past Ryan Kwanton a few years ago.   I know that, because my wife said, "That was Ryan Kwanton".

The only Celebrity that  I have seen is Cheech Marin.   He lives in Park City.  He drives a yellow Lambroghini.  Actually, I recognized the yellow Lambroghini first.  I saw Cheech in the Deer Valley parking lot.  I've never met Cheech, but I keep hearing what a cool guy he is.  So, Cheech...next time....  And I last summer, I drove past Katherine Heigle as he came through the  gated entrance to  Maple Ridge Ranches.  Katherine has a home there.   Again, somebody had to tell me.

What is your take away?  I'm focused on Real Estate.  I know this town.   I know the neighborhoods.  I know the restaurants.   I know where to find and how to help you buy Real Estate.

We Are Bullish On Park City and Deer Valley

By Darrick Olsen
Nov 24, 2014

Bulish on Park CityAfter spending two full days scoping out real estate, everything we have seen tells us the real estate market is improving and will keep improving.   Not only is new construction underway in every neighborhood we visited, each neighborhood has multiple homes in various stages of construction and re-model.  It seems spending $4.5m for a home and another $2m remodeling it is the new normal.   The dramatic increase in the amount of commercial construction provides additional validation that we are in a Bull Market.  Not a speculative market, but a solid and legitimate increase in real estate prices and value.   What did we confirm on our two day tour?   Approximately 90 percent of the new residential construction are custom built homes.  An almost equally large percentage of development product has reservations made and end users waiting.   The commercial development under construction is owner use or has already been leased.  Overall inventory is low.  So, what's missing? Answer:  New homes in ski and golf communities.  It's no secret buyers want new.  It is very difficult to find a buyer a new or very recently remodeled and updated product of quality that has a modern/contemporary, new and fresh feel; and a simple, functional floor plan.  Not only did Joe and I spend two full days last week, we spend at least one day a week every week - much like a picker hunts for art and antiques - looking for the best lots, builders, architects and locations for our clients.  We know Park City, Deer Valley and the surrounding areas.  If you want to know what we know, give us a call or contact through our web site.  Bulish on Park City

Market Snapshot The Colony Ski-in/Ski-Out at the Canyons

By Darrick Olsen
Oct 15, 2014

A quick snapshot of Real Estate stats in the Colony shows the importance of location. In 2013, there were 7 single family home sales ranging between $2.25million and $4.8 million with an average price of $4.25 million. To date in 2014, there have been three single family sales between $5.4 million and $8.5 million with an average sales price of $5.76 million. That is a 35 percent increase. Currently, there are three pending sales single family sales with a listing price between $4.99 million and $8.4 million and an average listing price of $6.34 million.

In 2013, 16 building lots sold between $950,000 and $3.5 million with an average sales price of $1.45 million. So far in 2014, 18 lots have sold between $1.19 million and $3.05 million with an average sales price of $1.61 million. That is an increase of twelve percent in sales volume for the first 10 months of 2014 and an average price increase of just under a five percent in sales price. The news for the real estate market at The Colony is that sales volume should be equal or be better in 2014 than in 2013 and the average sales price in 2014 is up considerably.

This is a further indication that along with the excellent local economy, Vail coming to Park City is having positive impact on the real estate market. The Colony is a premier ski-in/ski-out luxury residence location at the Canyons Ski Resort.  We are locals living in Park City and are always excited to help you navigate this incredible ski terrain, as well as our real estate territory.

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

 

Early Morning Air

By Joe
Aug 07, 2014

IMG_0995 IMG_1009 IMG_1022

Hot Air Balloon Rides Hot Air Balloon Rides

The early morning air in Park City brings out the hot air balloons. There were a number of hot air balloons, both private and commercial. For a little over $150 per person, you can get a one hour ride from a number of commercial operators. Exciting, beautiful and very serene.

Deer Valley Concerts

By Joe
Aug 05, 2014

On Saturday night, Deer Valley hosted the Utah Symphony and "Super Diamond". This Neil Diamond cover band played to a pretty much sold out crowd.  IMG_1031

Super Diamond Good times at Super Diamond

 

Deer Valley hosts the Utah Symphony along with numerous other performers during the summer season.

For more information:  http://www.deervalleymusicfestival.org

Utah Symphony and Conductor Jerry Steichen Utah Symphony and Conductor Jerry Steichen

IMG_1056 Super Diamond

IMG_1050 IMG_1055

UPDATE: PCMR v. Talisker

By Darrick Olsen
Jul 31, 2014

 

Some current news regarding the fight for Park a City Mountain are sort.

PCMR v. Talisker: mayor expresses doubts about progress

Statements 'devoid of any real or meaningful solution,' Thomas says Jay Hamburger, THE PARK RECORD POSTED: 07/29/2014 01:20:37 PM MDT13 COMMENTS

Mayor Jack Thomas on Monday issued a prepared statement that appears to express doubts about the progress being made by Park City Mountain Resort and Talisker Land Holdings, LLC as the two sides in a high-profile lawsuit attempt to reach an agreement through mediation.

A filing late last week by Talisker Land Holdings, LLC apparently prompted the mayor's statement. Talisker Land Holdings, LLC and Vail Resorts indicated they would not oppose a PCMR request to stay the enforcement of an eviction order if the resort side posts a bond. The amount of the bond has not been set. Vail Resorts is overseeing the case as part of its long-term agreement to operate the Talisker corporate family-owned Canyons Resort. The deal could be extended to the disputed land underlying most of PCMR's terrain depending on the outcome of the case.

"This latest statement by Talisker only further confirms what has become an all too disturbing pattern of public statements devoid of any real or meaningful solution. For either party to operate the resort next season, each must be willing to compromise and leave something on the table," Thomas said.

Thomas, meanwhile, says there "appears to be a serious disconnect between what both Talisker/Vail and Park City Mountain Resort (PCMR) claim they want and what the community is getting - a fully operational ski resort next season and beyond."

He said there needs to be an agreement that ensures PCMR operates during the upcoming ski season. There have been increasing worries in recent weeks, particularly by the business community and City Hall, about the impacts of PCMR not operating during the 2014-2015 ski season.

"Any attempt to lighten the burden of litigation by narrowing the issues is positive and reassuring. Yet it remains unclear what Talisker/Vail is giving up by this action, and provides no solace for the thousands of area residents and businesses who continue to live in uncertainty," Thomas said.

City Hall was largely uninvolved in the case until recently. Park City leaders, though, became worried about the effects on the community, including the local economy, if PCMR did not open for a ski season or operations were greatly scaled back as a result of the lawsuit.

Thomas in mid-June sent a letter to the top executives at PCMR parent Powdr Corp. and Vail Resorts saying he and the Park City Council were "disappointed" in the progress. Thomas in the letter said City Hall would pay to hire a mediator. The judge ordered the sides into mediation shortly afterward.

The mayor's Monday statement:

"While we applaud Talisker's statement that they are mindful of the uncertainty this legal proceeding is having on the community and the upcoming 2014/2015 ski season, there appears to be a serious disconnect between what both Talisker/Vail and Park City Mountain Resort (PCMR) claim they want and what the community is getting -- a fully operational ski resort next season and beyond.

This latest statement by Talisker only further confirms what has become an all too disturbing pattern of public statements devoid of any real or meaningful solution. For either party to operate the resort next season, each must be willing to compromise and leave something on the table.

Any attempt to lighten the burden of litigation by narrowing the issues is positive and reassuring. Yet it remains unclear what Talisker/Vail is giving up by this action, and provides no solace for the thousands of area residents and businesses who continue to live in uncertainty.

Though Talisker claims minor progress, there remains an immediate need for a short-term solution that confirms resort operations this year. If the parties cannot mutually agree upon a bond amount, Talisker/Vail and PCMR should continue to consider a broad range of attainable short-term solutions that meet their public commitments to support our community, businesses, and residents with a fully operational resort.

Lastly, it shouldn't be lost on anyone that this so-called "non-opposition" statement comes at a time when mediation is underway, yet PCMR and Talisker/Vail still have not accounted for resort operations for the 2014/2015 ski season."

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.

 
 
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