Deer Valley Real Estate Tip of the Week: Tax Savings On Your Vacation Home

By diana

Jun 17, 2013

April 15^th has passed but it is never too early to start thinking about how to save money on your taxes for next year. If you own a 2^nd home in Park City or Deer Valley, it’s time to take a look at the tax advantages that come along with your vacation home.

If you and your family use your vacation home exclusively, you can write off all the interest you pay on your mortgage - up to $1.1 million of the total debt you owe for all of your properties. And you can also deduct your property taxes.

When you rent out your Park City home more than 14 days a year, the tax rules get more complicated, because you need to separate out costs between private vacation use, maintenance and rental use. You can still deduct a percentage of your mortgage and property taxes, plus property management fees, and you can even claim depreciation deductions on 80% of your home’s value.

Whether your Park City vacation home is reserved for private or rental use, be sure to consult your tax advisor to see how you can save at tax time. For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 866-709-8018. Craig has been a full time Park City resident since 1973 and a full time real estate agent since 1978.

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Deer Valley Specialist Real Estate Tip Of The Week: Home Accents That Shine

By diana

Jun 10, 2013

You’ve prepared your Park City home for sale; the floors the walls and furniture are spotless. Neutral colors abound. So where’s the pizzazz? Use your accessories to dazzle potential home buyers and enhance the look of luxury for your home. Neutral furniture, such as beige or off white sofas and chairs will pop with a few silk throw pillows arranged artfully as well as beautiful jewel tone cashmere throw.

Let them get a feel for the spa like bathroom, with its candle scented atmosphere, Jacuzzi and spa touches like bright white fluffy towels just waiting to be touched!

An overstuffed ottoman in front of a chair invites the buyer to come on in and put up their feet in front of the fireplace or bring a book to the deck’s outdoor living room. When a buyer’s coming, nothing will say ‘home’ to them like the smell of cookies or fresh popcorn as they walk in the door. It tells them this is a place ‘I can relax and get away from the hustle and bustle of the world outside, have my cookie or my glass of wine by the pool and just kick back with my shoes off and enjoy the scenery.

For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 866-709-8018. Craig has been a full time Park City resident since 1973 and a full time Park City real estate agent since 1978.

Beautifully decorated Flagstaff Condo in Empire Pass

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Deer Valley Specialist Best Buy Of The Week: Bristlecone Condo In Deer Valley

By diana

Jun 06, 2013

Our Deer Valley real estate best buy of the week is a newly listed condo for sale in Lower Deer Valley. It is located in the Bristlecone Development which is less than 1/2 mile to Deer Valley Resort and within walking distance to Deer Valley Grocery Cafe. This Bristlecone condo for sale has been completely updated with great attention to detail including: bathrooms with quartz counter-tops, glass tile showers, and glass euro doors. The kitchen also has quartz counter-tops, brush nickel fixtures, and new glass tile back splashes.

This Lower Deer Valley condo is one level and has 3 bedrooms, 2 bathrooms, and a light and airy open floor plan. It has features a private one car garage, additional covered guest parking, and a built-in owner lock out closet to store all your ski gear. But what really sets this Bristlecone condo apart is the large covered back patio with hot tub, that backs up to open space. The open space has a beautiful pond where you can watch all the wildlife drinking and playing in the beautiful landscape! You also get unobstructed views of Deer Valley Ski Resort to enjoy all year long.

If you need to get to Old Town it as easy as walking outside and getting on the free park city bus. You could also ride you bike since it is a little less than 2 miles away. This condo comes turn key, so just bring your toothbrush and move right in! Listed at $738,000 this is a rare find in Deer Valley, with all the recent upgrades and fantastic views. Bristlecone condos rarely come onto the market so don't lose this opportunity to own a great ski condo in Deer Valley!

Please contact us at 1-866-709-8018 for more information on this condo or real estate for sale in Park City or Deer Valley. Click the link below to see more photos and information about this Deer Valley best buy:

Deer Valley Best Buy

*Photo courtesy of Prudential Utah Real Estate

Views of Deer Valley Resort from Bristlecone back deck

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Buying A Summer Home In Park City

By diana

Jun 03, 2013

It’s gorgeous, you want it. The next question is, should you buy? Buyers who are looking for a Park City summer home will often buy without keeping in some simple things. When you’re out looking, remember:

Don’t buy on impulse – Take your time.
Every house tells a story, so work your connections - find someone who knows a neighbor and ask questions about the house you want.
Don’t forget that you’re not going to be there all the time and there are things to consider like upkeep and utilities.
Think about the weather. Would you rather put on a sweater or a swimsuit?
Do you want to live in the most popular spot in the area? Yes, the house is gorgeous, but take into consideration the location. If you’re going to spend your entire weekend worrying about when to leave on Sunday to beat the traffic, it might be best to re-think.
Trust your Realtor to help you make a good decision.

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Park City Real Estate Best Buy Of The Week: Home For Sale in Midway

By diana

May 30, 2013

This week for our Park City real estate best buy of the week we are featuring a newly listed home for sale in picturesque town of Midway. The town of Midway is located 20 minutes from Park City and is close to Wasatch State Park, Solider Hollow, and Deer Creek Reservoir. Midway is modeled after a Swiss town, making you feel like you are living in the alps of Austria or Switzerland. There are cute shops and restaurants located in the town center which is just a few miles away. Plus the town of Heber is only 7 minutes away and offers even more stores and restaurants and big box stores for all your needs.

This home for sale in Midway is located on a quiet, tree lined street on a half acre of land. It is a single story home with 3 bedrooms, 2 baths, and large 3 car garage. It also features a large deck with hot tub, beautiful views, new rock fireplace, air conditioning, jetted master tub, and whole home sound system. Enjoy the perfect summer weather in the large back yard with beautiful trees and privacy.

This best buy in Midway is listed for sale at $445,000. A great value for someone looking to enjoy the peace and beauty of the Wasatch mountains. Soldier Hollow was home to the 2002 Olympic Nordic Skiing competition and offers many cross country skiing trails in the winter and great hiking and biking trails in the summer. They also have a golf course to enjoy in the summer. Wasatch State Park also offers 2 golf courses to play on in the warm months. Deer Creek Reservoir offers boating, kayaking, paddle-boarding, and fishing.

To see for photos and information please click the link below:

Midway Best Buy Home For Sale

*Photo courtesy of Prudential Utah Real Estate

Midway Home For Sale

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Deer Valley Specialist Real Estate Tip Of The Week: Word of Mouth Marketing

By diana

May 28, 2013

When selling your high-end Deer Valley or Park City home or condo, I market to a network of qualified buyers that reaches around the globe. And I work with our Prudential team of professionals to create an array of beautiful cutting-edge marketing products to present your property at its best. But I also recommend another simple, but highly effective marketing strategy: old-fashioned word of mouth.

Neighbors can make great salespeople. They already love the neighborhood, and they may know someone who wants to move to the area. And because they know your property and you, they can assure the buyer that you are a trustable person who will sell them a house in good condition.

If you rent out your Park City property as a vacation home, some of your best prospects could be among your renters, who have first-hand experience of your home.

So before you put your home on the global market, tell your neighbors, renters and Facebook friends about your plans to sell. Who knows? Your buyer could be just a neighbor away.

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Park City Real Estate Best Buy Of The Week: Home For Sale in Old Town

By diana

May 22, 2013

This week we are featuring a newly listed home for sale in the Old Town area of Park City, Utah. This historical home is located in the heart of Old Town within walking distance to Main Street's shops, restaurants, and galleries. Another great benefit of being in the heart of Old Town is access to the town lift, which is a short one block walk from this Old Town home.

This Victorian home occupies two lots and has two bedrooms and three baths. It has an updated kitchen with a beautiful cathedral ceiling and window seat, dining room, family room, and an additional office/parlor. There is amazing architectural detail through out this historic home that can't be found in newer built homes in Park City. Other features include: a wood burning fireplace, stunning wide plank hardwood floors, and cute front porch to enjoy the beautiful Park City summers.

What really sets this Old Town home apart is the fact that is has a back yard with hot tub and PLENTY of off street parking! Parking is a rare thing in Park City's Old Town and if you can find a home with off street parking it is a definite plus. It is also very rare to have a back yard space in Old Town, and this home has that too.

This Park City real estate best buy is only one of four homes listed for sale under a million dollars that are located in the heart of Old Town. There are other homes listed for sale in Old Town but they aren't within walking distance to Main Street and the town lift, two very important factors because it is always about location, location, location! This Old Town best buy is listed at $880,000 and won't be on the market long due to the large demand in this area of Park City and very low inventory.

If you are interested in this Old Town home please give us a call right away at 1-866-709-8018. Please click the link below to see more photos and information.

*Photo courtesy of Prudential Utah Real Estate

Old Town Home For Sale

Home for sale in Old Town

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Deer Valley Specialist Real Estate Tip of the Week: Buying In a Resort Location

By diana

May 20, 2013

Buying a home in a beautiful resort location such as Park City, UT, can be the fulfillment of a lifelong dream – to live in a place where you can enjoy year-round outdoor recreation, rich cultural opportunities and the support of a close-knit community. Since personal lifestyle and locations vary greatly, it is important to ask yourself some questions about any area you are considering:

Does the area offer a variety of outdoor activities that you love? The best investment locations are close to skiing in winter, and have areas for walking, tennis and golf for summer. Park City offers all of those things plus world class mountain biking and hiking trails.

Is the local real estate market growing, with strong home sales and increasing home prices? These are signs of a healthy market. A popular area where buyers outnumber the inventory of homes is a good investment. Park City is seeing the lowest inventory since 2007, so this is great sign that is a good time to invest.

Are there excellent hotels, spas, restaurants, shops and art galleries nearby? Park City has several high end hotels including: Montage Deer Valley, Ritz Carlton Deer Valley, Stein Eriksen Lodge, and the Waldorf Astoria Park City. Plus the Hyatt and Hilton are new additions that have come to Park City in the last year at the Canyons Resort. Property values will grow in a prime location with world-class guest services. With the addition of these well-known and popular resorts Park City will continue to see growth.

With your REALTOR’s help, you can find the perfect resort location to fit your particular lifestyle.

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Real Estate Housing Market Report For May

By diana

May 14, 2013

REAL Trends just came out with their real estate housing market report for May and things are definitely looking up in real estate not just in Park City but around the nation.

REAL Trends reports that: "The May 2013 report shows that the rate of housing sales increased strongly in April growing 16.2 percent from April 2012. The annual rate of new and existing home sales for April 2013 was 5.731 million up from the 4.932 million recorded in April 2012. These are the strongest year over year results this year. The average price of homes sold increased by 7.9 percent in April 2013 compared to April 2012."

Real estate in Park City is also experiencing what the rest of the country is, with the best first quarter since 2007. Sales dollar volume is up 28 percent over last year, and current inventory is lower than it has been since 2006. That means that Park City properties are going quickly when placed on the market especially Park City single family homes.

Click on the link below to see the full report from REAL Trends:

http://realtrends.com/blog/real-trends-real-estate-housing-market-report-may-2013

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Dere Valley Specialist Real Estate Tip of the Week: 2013 Cost vs. Value Report

By diana

May 13, 2013

It’s that time of year again for Remodeling Magazine’s annual Cost vs. Value Report. This report not only shows us how recent construction costs compare to resale values, it also gives us a glimpse into the overall health of the real estate market. And the good news is that this is the first year in a long time where the return on remodeling projects has improved. According to the report, the recoup average on all 35 projects they studied rose significantly since last year.

Top of the list for resale value are new front doors, bathroom remodels, new siding and kitchen upgrades, all of which will give you better value for your dollar than last year. And according to the National Association of Realtors this positive sign coincides with the direction of the real estate market as a whole (home values improving nationwide).

To choose the most cost-effective projects, check out www.costvsvalue.com and consult with your Park City REALTOR® about what upgrades are most popular with your target buyers.

Whether your vacation home is reserved for private or rental use, be sure to consult your tax advisor to see how you can save at tax time. For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 866-709-8018. Craig has been a full time Park City resident since 1973 and a full time real estate agent since 1978.

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