Jazz Fest

This weekend is the annual Jazz Festival at Deer Valley. (http://www.parkcityjazz.org/) The headline acts for this year’s festival are Blues Traveler, Big Bad Vodoo Daddy and the Rippingtons. This three day event runs Friday through Sunday at the amphitheatre in Deer Valley. Also performing at the festival will be the Park City High School Jazz Band. The Park City High School Jazz Band is quite well know and has won numerous awards throughout the state and the country. The outdoor amphitheatre in Deer Valley is a terrific venue for concerts, located at the base of the resort with excellent views of the local mountains. As you can see from the headline acts, the festival is not a pure jazz festival, but a combination of jazz and blues. If you are an aficionado of jazz or blues, this annual event should be on your calendar of must “to dos”.

The various golf course communities around the Park City area continue to flourish. Last weekend I was fortunate enough to have an opportunity to play at the Glenwild Golf Course, designed by Tom Fazio. The Glenwild course is an 18-hole championship course, set in a beautiful valley just to the north of Park City, with spectacular views of the Wasatch Range. The clubhouse at Glenwild is arguably the most beautiful of all the clubhouses around the area, with outdoor dining overlooking the golf course with views of all three Park City ski resorts. While Glenwild does offer a pool and tennis courts, the emphasis is certainly on the golf. Our Glenwild is a small community which is just about completely sold out, offering only re-sale lots and custom homes.

Last week I was at the Promontory Golf Course showing homes to a prospective buyer. Promontory has two golf courses, a Pete Dye Championship Course and the newly completed Jack Nicklaus Signature Course. I have not had the opportunity to play the Nicklaus Course yet, but word has it that is probably the best course in the state. Promontory differs from Glenwild in that, while golf is certainly the major attraction, it is not their only focus. Promontory has a wonderful spa/clubhouse with an indoor/outdoor pool adjoining a Children’s Center and a Members Clubhouse. Promontory also features an equestrian center, tennis courts and many miles of hiking/biking trails. Come winter the center court of the tennis facility converts to an ice skating rink and the hiking/biking trails convert to cross country ski trails. Promontory has made a conscious effort to offer recreational activities for the entire family. Promontory expects to start its third course this next summer which will be an Executive Course.

Tuhaye, one of the newest courses in town, features a Mark O’Meara Signature Course and is situated just to the east of Park City. Along with the golf pro shop, Tuhaye has completed it spa and fitness center with an outdoor pool and poolside café. This past Sunday I was fortunate enough to spend the afternoon at the Tuhaye pool overlooking the golf course with views up to Deer Valley. We decided that the views from the Tuhaye pool are the best of the three resort spas. Next in works for Tuhaye will be the Members Clubhouse and a 9-hole Executive Course. Tuhaye also has plans for an 18-hole Fazio Championship Course.

Just under way in the neighboring town of Heber is a new golf course community called Red Ledges. Red Ledges is also featuring a Nicklaus Signature Course and offers incredible views of Mt. Timpanogos. The course is well under way and at least 9 holes should be open by next summer. Currently Red Ledges is selling home sites and will soon be offering patio homes for sale as well.

As with many ski resort towns, Park City is going through a change from strictly a ski town to a Four-Seasons Resort and Golf Mecca. If you are a golf enthusiast, high altitude golf is extremely enjoyable as the thinner air allows us to feel like John Daly. The local courses should be open well into October so make plans to come out and visit us and enjoy the beautiful fall weather.

Hiking in Park City

July is one of the best months for hiking in the local mountains. With the late and very wet springs that we just had, the wild flowers are just now in full bloom. As we walk along any of the numerous trails in Park City there is an amazing array of colors with Columbine, Lupine, Bluebells and Mountain Daisies all in full bloom. Walking under the canopy of towering Aspens, it is easy to get distracted. It is also the time of year that deer and moose are taking advantage of the tender new foliage and are constant companions on the trails. We are very fortunate here in Park City to have an organization such as the Mountain Trails Foundation which builds and maintains many miles of hiking/biking trails. One of the most popular trails is know as the mid-mountain trail. This trail begins at mid-mountain Deer Valley at an elevation of 8,200 feet and follows the 8,000 foot contour across the mountains through Park City Mountain Resort, the Canyons Resort and ending just to the north of the Utah Olympic Sports Park. One of the great things on this trail is that there are numerous entry and exit points so that whether you have all day or just an hour or two, there are wonderful loops.

One of my favorite areas for hiking is in the Uinta Mountains just to the east of Park City. The Uinta’s contain most of the high elevation peaks in Utah, with peaks ranging from 12,000 to over 13,000 feet, contain about 500 lakes and, for the most part, is a wilderness area accessible only by hiking or horseback. This range offers spectacular views and is a must visit for outdoor enthusiasts coming to Park City.

In real estate news, I am seeing some signs of an improving real estate market here. I’ve been receiving an increased number of calls lately for people looking to pick up an investment or ski condo this summer. And while the national economic news is still pretty dismal, many buyers are beginning to look at our prices as a good investment. Last week I visited a new golf course project called Red Ledges in a neighboring town of Heber, about 20 minutes from Park City. Red Ledges will feature a Nicklaus Signature course as well as a Cliff Drysdale Tennis Academy, and offer some of the most beautiful view of Mount Timpanogos and the Wasatch Range. The golf course is currently under construction and at least nine holes are expected to be open for next summer.

The Mark O’Meara course at Tuhaye is now in it’s third full season of operation and people that I have taken there to play feel that it is the most interesting and enjoyable of the private courses around the area. Lot and home sales in Tuhaye are doing well and I have been meeting several new owners who are calling Tuhaye “Home”

Upcoming events to look forward to is the Park City Arts Festival the first week of August and the Deer Valley Jazz Festival August 21-24. If your schedule permits you to visit Park City during any of these times these are definitely events to participate in.

Busy Week in Park City

Busy week in Park City About 12 years ago I created an alliance of boards of Realtors at destination ski resorts throughout the Rocky Mountain states. With the purpose of sharing market and resort information. The Rocky Mountain Resort Alliance has 12 member boards in four states plus British Columbia, Canada. Our members are in Utah, Colorado, Idaho, and Wyoming. This coming weekend we are holding our spring meeting here in Park City. There are about 20 Realtors from the non-Utah resorts coming here to share information on their markets and issues that are facing the resorts. Over the years this has proved to be one of the most informative and beneficial meetings that I attend. Even though I always hear news from the other resorts, it is best when I am able to speak with my compatriots one on one and be able to get an in depth picture of their market. Watch for a report on the meetings next week.

In local real estate news, business is definitely picking up. Late last week I received an offer on a townhouse in the neighboring community of Heber and yesterday I received a second and backup offer. We have not seen multiple offers in quite some time and hopefully this is an indication that for good properties properly priced, buyers are out there. Also late last week I received an offer on a Deer Valley condo that I have listed and while the negotiations are ongoing, buyer and seller are very close and I am confident that ultimately we’ll see a sale. For the end of May, early June when the town is still quiet, as it is still snowing every week, this activity is very promising for the summer. In speaking with a potential buyer this morning, I again reiterated (and he agreed) that whether it be two or three years from now we are going to look back at this year very wistfully. I suspect that many buyers are beginning to realize this and understand that while sellers are negotiating this may not be the case for much longer. Real estate markets and particularly resort real estate markets can flip from a Buyer’s Market to a Seller’s Market or visa versa very quickly and with little advance notice. The savvy investors understand that the time to purchase is not at the bottom of the market but as the market is approaching the bottom. All too often everyone waits for the market to hit bottom to purchase. If a significant number of buyers all come into the market at close to the same time the market quickly changes to favor sellers and buyers may have lost whatever gains they thought they had realized by waiting.