Still pretty early in the year for any big events in town although most of the restaurants have reopened. Last summer Park City allowed the Main Street restaurants to build temporary outdoor patios on the street to allow outdoor dining and take advantage of the nice days. While only two restaurants took advantage of this last year, this past weekend driving on Main Street i saw many more restaurants building outdoor dining decks which adds a nice little flair to Main Street and is a very enjoyable way to spend lunchtime.
This past Sunday one of our newer restaurants, Talisker on Main, started serving Sunday brunch, so I felt obligated to try it out. Typical of Talisker, there was nothing simple, common, or ordinary on the menu but all was fabulous. I felt obligated to try the Eggs Benedict which was very interesting. They served three Eggs Benedict, all differently. The first was the traditional, poached egg on ham on a muffin however it came with shaved asparagus as well. The second one was a fried quail egg on pulled pork on a muffin, and the third was a breaded and deep fried egg over country fried chicken on a muffin. All served with a cayenne hollandaise sauce. Quite interesting and quite delicious.
Real estate continues to be quite active with sales spanning the entire range of homes and condos. As would be expected a lot of sales in the lower end (under $300K) for condos and lots, but we also saw a ski-in/ski-out home in The Colony with an asking price of $7.5 million sell last week. Condos around the ski resorts continue to be some of the best buys. At the Canyons resort we have a new Hyatt hotel and the Waldorf-Astoria. These two very well-known name brands are attracting a lot of visitors to the Canyons and with the money and improvements Talisker has made to the base area, (and perhaps a golf course this summer) we may finally see the Canyons Resort becoming our third world class resort. At Deer Valley the Montage Hotel in Empire Pass sold out its first offering of 15 units. The Montage had offered some terrific incentives as far as pricing and buyer incentives to jump start their sales program. While I expect the second release to come out shortly with additional buyer incentives, I do not anticipate that they will be quite as attractive as the first one was. It will be interesting to see how this plays for future sales.
A very interesting opportunity is in lower Deer Valley in a project called Silver Baron. About three weeks ago there were twelve units that had been owned by the developer and taken back by the bank and were offered for sale either individually or as a lump group. A savvy investor came in and purchased all 12 of them at a phenomenally aggressive price and is turning around and offering a select number for resale.The attractive part is that the price that he purchased them for is allowing him to put them back on the market at a price that is far below what comparable sales were this last winter for Silver Baron. He is offering these with the stipulation of a quick close but to make that attractive he is offering to carry financing until the buyer is able to secure conventional financing. This is an opportunity to acquire a relatively new condo at the base of Deer Valley at a price we won't see again.
Now, this demonstrates the importance of working with a long-time experienced agent who is tuned into the local market and where the deals are to be found. Resort markets are fast moving and when opportunities pop up, they rarely last long.
I hope that your weekend was enjoyable and if you get out to visit Park City this summer, you'll either stop by my office or call to say Hello. Remember I am always available to talk about what events are coming up, new and old standby restaurants, as well as where to go for activities.
