Sunday, August 16, 2009

Cold days in August...

The past couple of mornings have been like October in Deer Valley! Near frost temps, well below 40 in the early morning. Summer will really seem short this year!

We rode the infamous "Wasatch Crest" mountain trail from Park City Resort to Salt Lake last week. A classic mountain ride, 26 miles total along the crest of the ridge between Park City and Big Cottonwood Canyon... About four hours in the saddle, including "Puke Hill" and the Millcreek Pipeline Trail. Here's a view of "Desolation Lake" from the trail, near The Canyons Resort. Yeah, that's me above with the trusty steed.

Real Estate: Deer Valley continues to rack up consistent new pending home & condo sales... five since August 1 for a total of $10m. Three of these over $2.5M list price. Interesting that a two bedroom "Arrowleaf" at Empire Pass dropped price to below $1.4M, and sold quickly. I have said that a furnished 2 bedroom Arrowleaf will sell when listed below $1.5m and a three bedroom below $2m. That has proven true.

The Huntsman estate is now listed at $55m. Halfway up Royal Street on the right side. 22,000 sf lodge on large acreage.

Next post I will try to include a fresh photo of the St. Regis.... this luxury Starwood Hotel is slated to open this November... We'll see, but either way, it is incredible that 59 reservations for purchase of suites/condos at the St. Regis are still holding! That is a whopping $190Million in contracts, with an average of $3,2M per. These pending sales may start closing escrow this fall and constitute a big bump in the 2009 Deer valley closed sales stats! The biggest/best one is at $9M list price! Yes, still some available if you want to get in the game! Contact us for an update!

Is it time to consider Buying into the market? The media hints at National numbers seeking a bottom... The Deer Valley market... maybe, and considering sales prices now average below 90% of list in many areas, it's a good time to take advantage of some Sellers who may need to sell! How do you find out? Help us learn what Deer Valley property type and style you would most like, and then target the best value in the category with an offer that will make you smile if accepted.

Best Buys: A two bedroom Arrowleaf at or below $1.5M. A three bedroom at or below $2M. A house at "Alpenrose" offered at $1.8m... "short sale" offering, so beware of mousetraps and long delays.

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