Each year in its October issue, SKI Magazine publishes rankings of the major ski areas in North America based on reader input. This year Deer Valley is once again rated the number one ski resort in North America. The poll is based on input from readers of SKI Magazine who answer a survey asking them to rate resorts that they have visited. Deer Valley was rated number one in 11 of the 18 categories surveyed. These included grooming, on-mountain food services, and guest services. While all the categories are important in the ranking we are especially proud of the guest services ranking. Since its inception, Deer Valley has strived to set the standard for guest services and remarkably, over the last 26 years, has maintained the standard. Guests coming to Deer Valley are always impressed by the friendliness and helpfulness of all the resort staff. From ski check attendants to lift operators, restaurant personnel to mountain hosts, Deer Valley hires with the expectation that their guests will be treated as if they were staying in a fine hotel. This commitment to service and quality of ski experience has proved to be a winning combination as Deer Valley’s skier numbers increase every year and it has been rated the number one North American ski resort three out of the last seven years.
This commitment to excellence has translated to booming real estate sales in Deer Valley. The new Empire Pass area has been exceedingly popular with most of the condominium buildings selling out prior to completion of construction. Empire Pass features a variety of ski-in/ski-out condominium buildings, townhouse condominiums, and single family homes. Last winter, the first phase of single family homes, The Paintbrush at the Village at Empire Pass, sold all of their 18 homesites. This winter, there is a new area of homes called Nakoma. There will be 16 homes built with direct ski-in/ski-out access to the new Lady Morgan Express chairlift. These homes will be around 5,000 square feet, of the quality expected of Deer Valley, and all will have spectacular views of the ski runs of Deer Valley and the town of Park City.
With fall quickly arriving, we had our first frost this morning. We are seeing an increase in buyers looking to pick up a ski condo for this winter. This past week we have seen several condominiums in both lower and upper Deer Valley have contracts accepted. Our fear for this winter is a lack of inventory. The number of condos listed for sale is about 25% less than we had at this time last year. While there still are some excellent opportunities, they are selling faster than new units are coming on the market.
September is one of the most beautiful months in Park City, with daytime temperatures in the mid 60’s to 70’s, and chilly nights. The fall leaves have started to turn, which makes hiking and biking the local mountains especially beautiful. This is a great time to come out and visit, to enjoy fall in the mountains, and to see what’s new at the ski resorts and real estate opportunities at the various resorts.
Monday, September 10, 2007
Wednesday, August 29, 2007
Miner's Day in Park City
This coming weekend of September 1, 2, and 3rd, while most of the country celebrates Labor Day weekend, here in Park City, we pay tribute to our mining history with “Miner’s Day” celebrations on Monday, September 3rd. This is another example of the small-town flavor of Park City, where we have our traditional parade down Main Street, then activities at City Park. These activities are topped off by the mucking and drilling contests.
These contests involve both and current and former miners from the area, who pit their skills against each other. The drilling competition involves a large block of granite rock in which the miners hoist a heavy and unwieldy pneumatic drill and see who can drill five holes in the smallest amount of time. The mucking competition involves a small ore-cart with a pneumatic scoop shovel attached to the front. This cart and scoop are on a railroad track and are controlled by the operator who moves the scoop into a pile of waste rock and dumps it into the cart behind. This is again a time competition to see who can fill the cart in the least amount of time. The mucking and drilling contests have become the highlight of the day and always draw a large crowd.
We have all been hearing the daily news about the difficulties with the mortgage industry and its effect on the housing market. Park City’s local lenders have been making a point of letting everyone know that because they have portfolio lenders, they are able to make loans on homes, condos and land here in the area. While we have seen some slowdown in the market because of the national news, vacation property is still desirable and Park City remains one of the most desirable resorts in the U.S.
All three ski areas have new home and condominium developments being completed for this upcoming ski season. These developments all have terrific ski access and come in a variety of product from townhouses to homes to multi-level condominium buildings and a little bit of vacant land for homesites. Deer Valley resort is just completing two new condominium buildings on the mountain. Arrowleaf B and the Grand Lodge, both in Empire Pass, are in the final completion stages. At Park City, two new condominium projects: the Lowell, located in the resort center at the base of the mountain, should be completed early this winter, and Silver Star, which is a new project with its own lift, is also being completed. The Canyons resort has several new condominium projects either under construction or about to break ground. With the new lift expansions at the Canyons, these will have very convenient ski access.
Miner’s Day weekend is the traditional end to summer and in Park City, the leaves have begun to change. With the shorter days and cooler nights, the red leaves of the maples are starting to dot the hillsides. This is a terrific time to come out and visit, enjoy the beautiful fall colors and see what’s new at the resorts. For the latest information on any of the new projects or resale condos, please give me a call.
These contests involve both and current and former miners from the area, who pit their skills against each other. The drilling competition involves a large block of granite rock in which the miners hoist a heavy and unwieldy pneumatic drill and see who can drill five holes in the smallest amount of time. The mucking competition involves a small ore-cart with a pneumatic scoop shovel attached to the front. This cart and scoop are on a railroad track and are controlled by the operator who moves the scoop into a pile of waste rock and dumps it into the cart behind. This is again a time competition to see who can fill the cart in the least amount of time. The mucking and drilling contests have become the highlight of the day and always draw a large crowd.
We have all been hearing the daily news about the difficulties with the mortgage industry and its effect on the housing market. Park City’s local lenders have been making a point of letting everyone know that because they have portfolio lenders, they are able to make loans on homes, condos and land here in the area. While we have seen some slowdown in the market because of the national news, vacation property is still desirable and Park City remains one of the most desirable resorts in the U.S.
All three ski areas have new home and condominium developments being completed for this upcoming ski season. These developments all have terrific ski access and come in a variety of product from townhouses to homes to multi-level condominium buildings and a little bit of vacant land for homesites. Deer Valley resort is just completing two new condominium buildings on the mountain. Arrowleaf B and the Grand Lodge, both in Empire Pass, are in the final completion stages. At Park City, two new condominium projects: the Lowell, located in the resort center at the base of the mountain, should be completed early this winter, and Silver Star, which is a new project with its own lift, is also being completed. The Canyons resort has several new condominium projects either under construction or about to break ground. With the new lift expansions at the Canyons, these will have very convenient ski access.
Miner’s Day weekend is the traditional end to summer and in Park City, the leaves have begun to change. With the shorter days and cooler nights, the red leaves of the maples are starting to dot the hillsides. This is a terrific time to come out and visit, enjoy the beautiful fall colors and see what’s new at the resorts. For the latest information on any of the new projects or resale condos, please give me a call.
Wednesday, August 22, 2007
Jazz Festival Weekend
This weekend, Deer Valley is the host for the annual Park City International Jazz Festival. This is the tenth year for the Jazz Festival, which has grown to host both the stars and up and coming stars of the jazz world. The festival this year will be Friday night, Saturday evening, and Sunday afternoon.
Summer is beginning to wind down, but our activities are still going strong. Recent rains have kept the mountains exceptionally green for this time of the year, and the hiking/biking trails are less dusty than July. The hot summer days are over, evenings are cooler, and late August/September are terrific times to visit.
With all the recent news about lenders going out of business and difficulties in obtaining financing for properties, many buyers and sellers are concerned about the effect on our market. While we believe that this will certainly have some effect on our market, we also feel that our buyers tend to be strong enough that financing is not as much of an issue here as in some other markets. Because of the type of properties and the price point, we do not deal in the sub-prime market and for the majority of our second-home owners, qualifying for the purchase of a vacation home is rarely an issue. Our sellers also tend to be strong enough that they do not have to sell and therefore, do not feel pressured to drastically lower prices in order to get a property sold. The majority of our owners feel that the market for vacation properties is still strong, and that at worst case, they have a terrific home to visit and in many cases, are receiving excellent rental income.
The winter ski season is quickly approaching, and this is an excellent time to be looking for ski property. The town is a little bit slower, so it is easier to get into properties and sellers tend to be more negotiable now than during the ski season.
Summer is beginning to wind down, but our activities are still going strong. Recent rains have kept the mountains exceptionally green for this time of the year, and the hiking/biking trails are less dusty than July. The hot summer days are over, evenings are cooler, and late August/September are terrific times to visit.
With all the recent news about lenders going out of business and difficulties in obtaining financing for properties, many buyers and sellers are concerned about the effect on our market. While we believe that this will certainly have some effect on our market, we also feel that our buyers tend to be strong enough that financing is not as much of an issue here as in some other markets. Because of the type of properties and the price point, we do not deal in the sub-prime market and for the majority of our second-home owners, qualifying for the purchase of a vacation home is rarely an issue. Our sellers also tend to be strong enough that they do not have to sell and therefore, do not feel pressured to drastically lower prices in order to get a property sold. The majority of our owners feel that the market for vacation properties is still strong, and that at worst case, they have a terrific home to visit and in many cases, are receiving excellent rental income.
The winter ski season is quickly approaching, and this is an excellent time to be looking for ski property. The town is a little bit slower, so it is easier to get into properties and sellers tend to be more negotiable now than during the ski season.
Monday, August 6, 2007
Successful Arts Fest!
This past weekend the Park City Arts Festival was held, and was extremely successful. Artists from all over the country exhibited their wares on Main Street, and the street was busy with buyers. This event is one of the highlights of the summer, and is eagerly anticipated by residents and visitors.
The next major event coming up is August 24-26, and is the Park City International Jazz Festival. This three-day event features world-renowned jazz artists and is held at Deer Valley Resort. This event is always a sell-out, so early ticket purchases are encouraged.
August in the mountains signals the end of the summer heat. Days are a little cooler, summer thunderstorms are more abundant, and the mountains are very green. August and September are perfect months to come visit, go hiking or mountain biking on the mountain trails, or just relax and soak up the summer sun.
The next major event coming up is August 24-26, and is the Park City International Jazz Festival. This three-day event features world-renowned jazz artists and is held at Deer Valley Resort. This event is always a sell-out, so early ticket purchases are encouraged.
August in the mountains signals the end of the summer heat. Days are a little cooler, summer thunderstorms are more abundant, and the mountains are very green. August and September are perfect months to come visit, go hiking or mountain biking on the mountain trails, or just relax and soak up the summer sun.
Tuesday, July 31, 2007
It's Arts Fest Weekend!
It's hard to believe that the 38th annual arts festival is already here. This Friday, Saturday, and Sunday, Main Street is closed to traffic, and vendors come from all over the country to display their wares. The Park City Art Festival is always the highlight of the summer. Activities on Main Street range from many music venues, restaurants showing off their fare, fabulous variety of arts and crafts, and of course, one cannot forget the people-watching. About 50,000 people will attend the festival over the weekend.
In the meantime, the summer thunderstorms have returned. Days start off with crystal clear blue skies, cloud up and storm for an hour or two in the afternoon, then clear up again for the evening. Summer thunderstorms in the mountains are one of the delights as the days are cooler, and much needed moisture comes into the forest. The next two months, August and September, are some of the best here in the mountains. While the days are still warm, they are not as hot as July, and the evenings start to cool off. Temperatures were in the low 40s last Monday morning. August is also very busy in town, with many of the condos full of summer visitors. While this is once again terrific for owners, it does make showing the condos a little more difficult again. Many of our visitors are now starting to look towards the winter, and looking for a ski condo for the season. This is a great time to come out, as there are still some excellent values to be found.
In the meantime, the summer thunderstorms have returned. Days start off with crystal clear blue skies, cloud up and storm for an hour or two in the afternoon, then clear up again for the evening. Summer thunderstorms in the mountains are one of the delights as the days are cooler, and much needed moisture comes into the forest. The next two months, August and September, are some of the best here in the mountains. While the days are still warm, they are not as hot as July, and the evenings start to cool off. Temperatures were in the low 40s last Monday morning. August is also very busy in town, with many of the condos full of summer visitors. While this is once again terrific for owners, it does make showing the condos a little more difficult again. Many of our visitors are now starting to look towards the winter, and looking for a ski condo for the season. This is a great time to come out, as there are still some excellent values to be found.
Monday, July 23, 2007
Big Changes at the Canyons
The big news this week is that American Ski Corporation the owner of The Canyons resort here in PC, has sold the ski resort to Talisker Group. Talisker is a Toronto-based real estate development company that is developing the new Empire Pass area at Deer Valley as well as the Tuhaye golf course. This is exciting in that Talisker will bring an influx of money and renewed energy to the Canyons. For several years now, American Ski Corporation has been struggling financially, which left the Canyons resort in limbo. There is tremendous development potential at the Canyons, but ASC did not have the funds to realize this. While Talisker has not and is not a ski area operator, the bet around town is that Vail resorts will take over the day-to-day operations of the resort. Tune in for more details on this.
Summer is in full swing here, with music and art festivals weekly. The mountain trails are full of hikers and bikers, the golf courses are running at capacity, and the various pools around town are full. Come out, enjoy the cool mountain summers, and find out about exciting opportunities at the Canyons resort, Deer Valley, and Park City resorts.
Summer is in full swing here, with music and art festivals weekly. The mountain trails are full of hikers and bikers, the golf courses are running at capacity, and the various pools around town are full. Come out, enjoy the cool mountain summers, and find out about exciting opportunities at the Canyons resort, Deer Valley, and Park City resorts.
Monday, July 9, 2007
Summer Activities
The July 4th holiday has come and gone and there really is nothing quite like the small town festivities that Park City enjoys on Independence Day. From the very quaint parade to activities in City Park, and the beautiful firework display with Park City Mountain Resort as a backdrop.
This week in Park City, we continue with the Wednesday night free concerts at Deer Valley, which are a locals highlight as well as this Saturday, Lyle Lovett and K.D. Lang will be performing in Deer Valley. Another event this week is the Park City Food and Wine Classic, running Thursday through Saturday. This is an opportunity for local chefs to show off their talents as well as pairings of fine wines from around the world. Friday night is a highlight with wine, food, and jazz as you stroll up and down Main Street Park City.
While we’ve had a very hot summer, for us, nights are still pleasantly cool, and extremely enjoyable. The hiking trails are in top condition, and the high altitude wildflowers are in full bloom. This is a great time to come out, enjoy the cooler summers at higher elevation, and take in all of the activities available, such as golf, tennis, biking, hiking, and all of the water sports, including terrific fly fishing.
In real estate news, there are several new developments under construction at all of the resorts, that are very interesting, and much easier to see during the summer months than in the winter. Summer is a perfect time to come out, look at real estate, as there are often exceptional bargains to be had, and access to properties is much easier now than during the busy winter months.
This week in Park City, we continue with the Wednesday night free concerts at Deer Valley, which are a locals highlight as well as this Saturday, Lyle Lovett and K.D. Lang will be performing in Deer Valley. Another event this week is the Park City Food and Wine Classic, running Thursday through Saturday. This is an opportunity for local chefs to show off their talents as well as pairings of fine wines from around the world. Friday night is a highlight with wine, food, and jazz as you stroll up and down Main Street Park City.
While we’ve had a very hot summer, for us, nights are still pleasantly cool, and extremely enjoyable. The hiking trails are in top condition, and the high altitude wildflowers are in full bloom. This is a great time to come out, enjoy the cooler summers at higher elevation, and take in all of the activities available, such as golf, tennis, biking, hiking, and all of the water sports, including terrific fly fishing.
In real estate news, there are several new developments under construction at all of the resorts, that are very interesting, and much easier to see during the summer months than in the winter. Summer is a perfect time to come out, look at real estate, as there are often exceptional bargains to be had, and access to properties is much easier now than during the busy winter months.
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