The Bell is Ringing

For the past couple of months I have been talking about how this is the time to be purchasing resort real estate (you are probably getting tired of hearing this from me). However, for those of you who are waiting for a bell to ring to signal the right time, the bell is ringing loud and clear. Now just what makes me say this??? Springtime in the mountain resorts is typically a very slow time of the year. But for the last few weeks I have seen the number of sales increasing each week, which is contrary to the spring buying season. I have observed that the bargain hunters have moved from a “watch and wait” position to a “buy” position. This past week was particularly striking as the sales numbers for our office for the past week totaled over $21,000,000 in sales. This is reminiscent of the good ole’ days of 2005 and 2006. When investors and bargain hunters move to a buy position they are sending a strong signal that if we are not at the bottom of the market we are so close that now is the time. Copy and paste this link in your web browser to view the number of pended sales in Park City from July 2008-April 2009: http://www.flickr.com/photos/dhanlon532/3548952415/.

Last weekend was the warmest weekend of the year so far with temperatures approaching 80 degrees. All of the outdoor enthusiasts were outside biking, hiking and playing golf. With the first warm weather of the spring the aspens suddenly leap out with their bright green and fresh leaves, it is a truly a magical time of year to watch the hills go from brown to green in just two days. Right now the aspens have leaped out to an elevation of 8000 feet with the higher elevation aspens still covered in snow. It will be another few weeks for these higher elevation aspens to leap out.

This weekend is the memorial holiday and all of the local pools open and it will be a time when parkites fire up the bbq’s and enjoy the warm days of spring. Happy Memorial Weekend!