Deer Valley opened Saturday, December 8th, in the middle of a 3-day snowstorm. The Park City resorts received about three-feet of snow over the weekend with more snow forecast for this week. The skiing, while still a bit limited, is terrific. The snow is soft, with many areas of powder skiing available. This past weekend Deer Valley hosted a celebrity ski challenge, as they do every year, benefiting the Waterkeeper Alliance. This is an environmental group promoting clean water throughout the world. With the new snow, the Park City Chamber of Commerce is busily getting the word out throughout the country. This should increase our already heavily-booked ski season. The Deer Valley Ski School completely sold out of lessons for both the Christmas and President's week back in October. This is a clear indication of the quality of the Deer Valley Ski School and how popular Deer Valley Resort has become.
With Deer Valley being rated the #1 resort in North America by the readers of SKI Magazine, visitors coming to find out what we're all about are discovering how easy we are to get to and what a charming town Park City is. If you have not already booked your ski vacation for this year, quickly do so as the prime lodging is filling up.
Monday, December 10, 2007
Monday, December 3, 2007
It's Snowing!
IT’S SNOWING IN PARK CITY! We received about a foot of snow over the weekend and the forecast is for continued snow with up to six feet in the next two weeks. Park City and the Canyons are both open with limited terrain and Deer Valley opens Saturday, December 8. With continued snow and cold weather, the resorts will be opening new terrain almost daily. Click on the ski resorts button the left side of this page for the most current and accurate conditions, or call me and I will give you a first-hand report on what is happening.
In real estate news, I attended a presentation for the new Flagstaff condominium project in Empire Pass. Flagstaff is the latest of the East West Partners developments at the base of the Silver Strike lift in Deer Valley. Flagstaff will consist of 37 two-, three-, and four-bedroom condominiums with over 5,000 square feet of gathering spaces for its guests. The gathering spaces will include a pub, the first in Empire Pass, a children’s center, and a gathering and relaxing room for adults. Prices start at $2,310,000 for a two-bedroom, $2,860,000 for a three-bedroom, and $5,000,000 for a four-bedroom plus loft. Reservations for this project will start on the 19th of December and East West is offering a 7% discount to the first seven buyers. If you would like more information on this development, any of the other new developments at the ski resorts, or excellent opportunities in the resale market, give me a call or stop by my office when you’re in town.
In real estate news, I attended a presentation for the new Flagstaff condominium project in Empire Pass. Flagstaff is the latest of the East West Partners developments at the base of the Silver Strike lift in Deer Valley. Flagstaff will consist of 37 two-, three-, and four-bedroom condominiums with over 5,000 square feet of gathering spaces for its guests. The gathering spaces will include a pub, the first in Empire Pass, a children’s center, and a gathering and relaxing room for adults. Prices start at $2,310,000 for a two-bedroom, $2,860,000 for a three-bedroom, and $5,000,000 for a four-bedroom plus loft. Reservations for this project will start on the 19th of December and East West is offering a 7% discount to the first seven buyers. If you would like more information on this development, any of the other new developments at the ski resorts, or excellent opportunities in the resale market, give me a call or stop by my office when you’re in town.
December 2007
Did you know that you can ski free at Park City, Deer Valley, and the Canyons resorts? The three Park City resorts have a ski-for-free promotion to emphasize just how easy it is to get here from anywhere in the country and ski the same day. To take advantage of this program all you need to do is to fill out a voucher (click here for more information), bring in your same-day boarding pass, and an out-of-state photo ID. Bring these three items at any of the ticket booths at any of the three Park City resorts and you will receive a free lift ticket for that day.
December is the start of the ski season with Deer Valley opening December 8, and both Park City and the Canyons Resort already open. After a warm and dry November, December has started as its typical cold and stormy month. We received about a foot of snow this first weekend, and the forecast is for a series of storms to blow through in the next few weeks. As is typical, the week between Christmas and New Years, the town is booked full. However, there is still plenty of lodging available before Christmas and a great time to ski with little crowds.
In real estate there are several new developments either available now or within the next couple of weeks at all three resorts. As land and construction costs continue to increase, the new developments are becoming quite pricey, which makes many of the resale condos particularly good deals. For the most part, resale homes and condos can be purchased at below replacement costs. As the resorts continue to grow and prosper there is good opportunity for appreciation with these resale properties. Before Christmas and the first couple of weeks in January are typically a little slower here and are excellent times to get in and see what is available before the holiday rush.
December is the start of the ski season with Deer Valley opening December 8, and both Park City and the Canyons Resort already open. After a warm and dry November, December has started as its typical cold and stormy month. We received about a foot of snow this first weekend, and the forecast is for a series of storms to blow through in the next few weeks. As is typical, the week between Christmas and New Years, the town is booked full. However, there is still plenty of lodging available before Christmas and a great time to ski with little crowds.
In real estate there are several new developments either available now or within the next couple of weeks at all three resorts. As land and construction costs continue to increase, the new developments are becoming quite pricey, which makes many of the resale condos particularly good deals. For the most part, resale homes and condos can be purchased at below replacement costs. As the resorts continue to grow and prosper there is good opportunity for appreciation with these resale properties. Before Christmas and the first couple of weeks in January are typically a little slower here and are excellent times to get in and see what is available before the holiday rush.
Monday, November 26, 2007
Snowmaking
While November has been uncharacteristically warm and dry, the weather finally turned cold last week, and all of the resorts are making snow. Snowmaking has been going on continuously since Tuesday, November 20, with Park City and the Canyons having opened last weekend. The forecast is for several small snowstorms to come through this week and continued quite cold. The cold weather is allowing the resorts to open more runs every few days. Snowbird and Alta have scheduled their opening for Friday, November 30.
All of the resorts are gearing up for the winter season with the new lift at Deer Valley fully operational and just waiting for Mother Nature’s cooperation. The Village at Empire Pass is looking very good with three condominium buildings completed and sold out, another under construction with a scheduled completion of next summer, and another having just broken ground. The homes and townhouses are mostly completed. This will be the first full season with this much completed and the members-only Tower Club open, which will give the Village the feel of a wonderful ski community. Bookings for this coming ski season are strong, particularly for all the holiday seasons, and we are all looking forward to a great ski season.
All of the resorts are gearing up for the winter season with the new lift at Deer Valley fully operational and just waiting for Mother Nature’s cooperation. The Village at Empire Pass is looking very good with three condominium buildings completed and sold out, another under construction with a scheduled completion of next summer, and another having just broken ground. The homes and townhouses are mostly completed. This will be the first full season with this much completed and the members-only Tower Club open, which will give the Village the feel of a wonderful ski community. Bookings for this coming ski season are strong, particularly for all the holiday seasons, and we are all looking forward to a great ski season.
Monday, November 19, 2007
Thanksgiving Week in Park City
It is Thanksgiving week in Park City, the ski resorts are ready to open and all we need is snow. After a very wet September and October, November has been uncharacteristically dry and warm. However the forecast is for colder and snowy weather for the next couple of weeks. If this holds true, most of the resorts will be able to open by this weekend. Thanksgiving week in Park City is traditionally not overly busy. While many years we have excellent skiing, it is always chancy and most people are not planning a ski vacation this early.
I just came back from a National Real Estate convention in Las Vegas where I attended several meetings and classes dealing specifically with resort real estate. In talking with many of my resort colleagues around the country, it was quickly apparent that the Rocky Mountain resorts continue to be the shining star in the real estate market. The northeast and Atlantic coast areas seem to be the hardest hit by the real estate slowdown. Of interest were the resorts in Lake of the Ozarks in Missouri, where business is booming. They report that their sales numbers are up 30% over last year in both number of units sold and average sales price. In talking with other resort realtors, it became apparent that the doom and gloom reports in all the news media is more sensationalism than fact. While there certainly are markets that are struggling right now, the majority of the real estate markets in the US are doing just fine.
I just came back from a National Real Estate convention in Las Vegas where I attended several meetings and classes dealing specifically with resort real estate. In talking with many of my resort colleagues around the country, it was quickly apparent that the Rocky Mountain resorts continue to be the shining star in the real estate market. The northeast and Atlantic coast areas seem to be the hardest hit by the real estate slowdown. Of interest were the resorts in Lake of the Ozarks in Missouri, where business is booming. They report that their sales numbers are up 30% over last year in both number of units sold and average sales price. In talking with other resort realtors, it became apparent that the doom and gloom reports in all the news media is more sensationalism than fact. While there certainly are markets that are struggling right now, the majority of the real estate markets in the US are doing just fine.
Wednesday, November 14, 2007
Blowing Snow
All the resorts are getting ready to open! Here is a photo of Bald Mountain at Deer Valley Resort making snow this morning.
Monday, November 5, 2007
Big News at the Canyons!
The headline news this past week is that the disputed sale of the Canyons resort to either Vail or Talisker is closer to being resolved. Both Talisker Corporation and Vail have been battling each other all summer for the rights to purchase the Canyons resort. Earlier in the summer, Talisker had announced that it had reached a deal with American Ski Corp., the current owner of the canyons to purchase the resort for $100 million. Immediately after this announcement, Vail resorts claimed that they had rights to purchase the resort and filed a motion in federal court in Denver to block the sale of the resort to Talisker. At the end of October, after hearing arguments from both sides, the federal court ruled that Vail had lost out in a fair, competitive bidding situation, and that the court would not block the sale of the Canyons resort to Talisker Corp. While there still are some hurdles to overcome, this was a significant step for Talisker to proceed with the purchase. Talisker is hoping to complete the purchase before the end of this year.
As a result, savvy investors are looking to properties at the Canyons resort, either the new developments at the base or vacant land in the Colony, as an excellent investment opportunity. With the federal reserve having cut interest rates again, and the overall real estate market slower than in the past years, this appears to be an excellent time to invest in Park City.
As a result, savvy investors are looking to properties at the Canyons resort, either the new developments at the base or vacant land in the Colony, as an excellent investment opportunity. With the federal reserve having cut interest rates again, and the overall real estate market slower than in the past years, this appears to be an excellent time to invest in Park City.
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