Sunday, February 7, 2010

Big sales in Park City. Nice House in Larchmont.

Where the heck is Larchmont...?    In the scheme of things, Park City and Deer Valley real estate includes some pretty nice properties.   Beautiful Montana sized estate homes in The Colony, ski in/out trophy homes in Deer Valley, and luxury condo residences at St.Regis, Stein Eriksen Lodge, and soon, The Montage at Deer Valley.

Nothing funny about those properties...  all superior and 5 star/5 diamond.  Here, however,  is a look at perhaps the funniest short real estate video clip we've seen in a long time...   check it out....Overpriced in Larchmont

Big sales continue in Park City, Deer Valley, and The Canyons

   Remarkably, or not so remarkably, deeper pockets continue to acquire high end homes and condos in our market.    In the last 30 days, we've seen thirteen closed sales of over $2m each, and another 13 new pending sales on properties listed over $2m.    The closed sales include a home at "Parkwood Place" at the Town Lift, for $5.7m and a home in Promontory for $3.5m!    Also, two (yes, 2) closings at the St. Regis totaled $17.5m.   Yep... the Pizza guy.  

And these are not necessarily fire sales...  some discounted 10-12% yes...The sale in Promontory was listed at $3.9m... a first class, premium property, individual owned... not a short sale, not a foreclosure.  

Included in the newly pended sales are a beautiful estate in The Colony at The Canyons, listed at over $8m, and a penthouse suite at the "Flagstaff Lodge" in Deer Valley, listed at $5m.     Also, three pending sales in the Glenwild/Preserve golf course area, each listed over $3m,

To date, we've seen 30 of the 59 contracted sales at St. Regis closed.    Still working on the remaining 29!  That's cash into our real estate market, even if those have indeed been in escrow for 2-3 years!

Is our general market turning... yes and no, and certainly maybe.   But that's like asking if it's raining in France.   Yeah, probably somewhere.   Either way, we're seeng some very exciting high end sales while many other market segments are still flat.    The Park City market has certainly fared better in the last year than all the other rocky mountain ski resort markets.   More on that later!

Al Johnson
Sothebys Intl Realty
435 640-6008  

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