Summer Heat Wave

Well I suppose better late than never, but hot weather finally got hot here, and by hot I mean in the mid-80s, although Salt Lake has been approaching 100 degrees each day these past few weeks. Fortunately it’s short-lived and next week is supposed to cool off into the high 70s, to low 80s. As we have been saying for the past 2 months, each morning when we get up, "just another boringly beautiful day in Park City". Summer is rapidly winding down but music continues. This coming weekend, Leo Kottke is performing at our local Egyptian Theatre and this should be a great show that I’m looking forward to seeing.

In real estate news, I’ve been running some numbers on some different developments in Park City, and what is particularly striking to me is Empire Pass in Deer Valley. For the past few years we’ve had anywhere from 50-80 units for sale at any given time but in looking at it yesterday, there are only 20 condos for sale in all of Empire Pass. While this may seem like a lot, there were over 40 condos sold last winter and nothing new is being built. There are three more building pads available in Empire but nothing is started and even if they were to break ground today it would be two years before anything was developed. For sometime now we’ve been saying watch out in Empire Pass as what looks like an unlimited supply of condos will quickly run out and once again, buyers will be left saying, "Why didn’t I...?"

Just a short blog today as I am off taking clients to golf at Tuhaye on a beautiful summer afternoon. Hope you are enjoying your summer and plan to ski park City this winter.