Open Houses
POCKETS OF OPPORTUNITY
NOW IS THE TIME TO BUY!
Up-Dated April 2009
In the last few months there have been several properties sold at incredible values throughout the ski resorts of Park City, Utah. Although it is true that Park City ski real estate has not been hit as hard economically as many other parts of the country; there are pockets of opportunities. Now may be the perfect time to make your dream of owning a ski condo in Park City or Deer Valley become a reality.
Although prices throughout the Park City ski resort real estate market are holding steady, there are definitely pockets where really good values can be found and every now and then a “Must Sell" circumstance pops up. The trick is to be the first one to find the “must sell” circumstance and be ready to take action.
The best way to find your Park City ski deal is to determine what resort you are interested in, specifically determine the location, amenities, type and size ski condo you want, make arrangements for your financing, if necessary, and then “lie in wait”. You cannot expect a multitude of good deal properties to come on the market and wait for you to discover them by yourself. You won’t find huge lists of foreclosure properties in the ski areas of Park City. You will need to work closely with a Realtor who is keeping a close eye on the market, with your preferences in mind. Preferably, you want to develop a relationship with one Realtor who will call you first when they sniff out a “must sell” circumstance. Then it is up to you to be prepared, make quick decisions and “pounce” to capture your “desired prey”.
I never thought I would see the day of million dollar price reductions and the words “all reasonable offers will be contemplated” on some of the finest homes in Park City and Deer Valley neighborhoods. It is definitely a buyer’s market and the supply is much larger than the demand. However, you must keep in mind that one of the main differences between the real estate market in the major ski resorts of Park City, Utah and other parts of the country, is that many of the Sellers do not need to sell. Plain and simple, they can wait out these challenging economic times, until the market once again shifts into a seller’s market and they are in the driver’s seat.
Opportunities are not lurking around every corner and foreclosures are not abundant. You will however, be able to choose from some of the best properties in the ski resort community. There is a much large inventory than we have seen for many years, with properties located in some of the best areas – close to the slopes and activities. Your good deal may be to find one of the best properties in the ski resort “available for sale”. Those of you who have looked at property for sale in ski resorts will understand what I am saying. During the past 10+ years, it has been difficult, if not impossible, to find a property for sale in one of the most desirable areas of any Park City ski resort. When I say one of the most desirable properties, I mean, ski-in ski-out, pristine views, close to town and activities yet secluded and surrounded by nature. Some of these dream ski properties are currently available.
The time is right for “good deals” in the mountains of Park City. Whether you want to take advantage of the opportunity of buying a highly desirable, rarely available ski condo for market rate (normally sold for 15%-25% above market, if they can be found) or become an educated, agile hunter, who is willing to patiently wait until the moment is right to spring into action on a “must sell” opportunity; now is one of the best times!
There are no open houses at this time.
