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.

Big News in Park City

Big news in Park City this week is that President Bush is coming into town Wednesday and Thursday on a fund-raising trip for the Republican Party. President Bush will be staying at the home of Mitt Romney in Lower Deer Valley. I’ve heard that there will be at least one protest rally here in town, so it should be an interesting couple of days.

The Memorial Day holiday has come and gone, which for everywhere except for the mountains, is the start of the summer season. Not untypical, it rained and snowed all weekend here. Snowbird Ski Resort is still open on weekends and last Friday skiers were enjoying 17 inches of new snow in mid-winter conditions. Snowbird still has a base of 116” at mid-mountain. My guess is that in the high country the snow will not completely go away before the start of the next season.

In talking with my fellow Realtors in the other Rocky Mountain Resorts everyone feels that there is a disconnect between buyers and sellers. As I have mentioned in the past, many of our buyers are coming from markets that have been strongly affected by either the real estate or economic downturn and are expecting that the western ski resorts are in the same position. In the majority of the cases, however, our sellers are not in an anxious position, do not need to sell, and can afford to hold onto their properties until prices climb again. The unfortunate part of all of this is that buyers are not getting the properties that they want even though, by comparison, today’s prices are bargains. What I am afraid is going to happen is that in the not-too-distant future the market is going to rebound (we are already seeing signs of that), and today’s prices will be a thing of the past. A great quote is, “Quality of time remaining.” Meaning, how much is your time worth to have the property that you want now and enjoying it with your family? Unless the purchase is strictly for an investment it is important to understand that the time spent with our families spending quality time together does have a monetary value and should not be overlooked.