Park City-Deer Valley 4 year real estate history

By Delia Reece

Apr 26, 2010

The enclosed graphs show the “pended” or properties that went into escrow from July 2006 through April of 2010. You can see that the bottom of our real estate market was in November of 2008. The escrows in 2010 almost match the numbers for 2007. The “closed sales” graph also shows the bottom of the market was February of 2009. The closed sales in 2010 are also close to the 2007 numbers. Our real estate market has improved dramatically in the past 14 months. However; prices in general have not been going up. Please contact us with any questions.

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Park City-Deer Valley Update

By Delia Reece

Apr 26, 2010

The enclosed graphs show that the “pended” or sales that went into escrow from December to April 2010 had a 202% increase in condominiums; a 214% increase in single homes; and a 408% increase in vacant land from the same time period in 2009. The “closed” sales show a 204% increase in condo sales; a 220% increase in single family homes sales; and a 350% increase in vacant land sales from the same time period in 2009. Our real estate market has improved dramatically in the past 14 months. However; prices in general have not been going up. Please contact us with any questions:

Tags: Deer Valley, Park City, Real Estate, Statistics
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Deer Valley concert: “Earth, Wind and Fire”

By Delia Reece

Apr 22, 2010

Get ready to make your plans to be here August 20 to see “Earth, Wind and Fire at Deer Valley. This Grammy Award-winning ‘70’s super band incorporates jazz, soul, gospel, pop, disco, blues and rock ‘n’ roll into their dynamic performances. Tickets go on sale to the general public Monday; May 3.

Tags: Concerts at Deer Valley, Deer Valley Summer Concerts
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Deer Valley Summer Concerts

By Delia Reece

Apr 20, 2010

Get ready to make your plans to be here August 8 for Michael McDonald at Deer Valley. Tickets go on sale to the general public Monday; May 3.

Tags: Deer Valley, Deer Valley Summer Concerts
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LOCATE YOUR LIFESTYLE

By Delia Reece

Apr 19, 2010

If you are looking for a new home, it is important to communicate with your Realtor about any special aspects of your lifestyle that will influence your choice of properties. Information about your particular needs relative to location, home features and amenities will help your real estate agent find the perfect home for you and your family.

Are you a gourmet cook who loves hosting dinner parties? Do you want to accommodate personal hobbies, such as painting, photography, or woodworking? Will your decision be influenced by the availability of a community gym or tennis courts? Does your son need space to rehearse with his hard rock band? Are you a telecommuting professional who needs a home office? Are you planning to enlarge your family? Is there someone in your household who cannot climb stairs?

Knowing the significant factors that will influence your housing decision will help your real estate agent narrow the selection of homes on the market in the Park City area.

For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 1-800-553-4666.

Tags: Craig's Weekly Tips, Real Estate
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Deer Valley powder skiing late season!

By Delia Reece

Apr 15, 2010

Deer Valley received over 70 inches of snow in the first 5 days of April!

Tags: Deer Valley, Skiing
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POPULARITY OF VACATION / INVESTMENT HOMES

By Delia Reece

Apr 12, 2010

It might surprise you to learn that a third of all homes sold during the past year were second homes – those to be used as a vacation residence or investment property. This was revealed in the “2008 Investment and Vacation Home Buyers Survey,” conducted by the National Association of Realtors. The survey showed that 12 percent of home sales were vacation homes, while 21 percent were purchased for investment purposes.

Even in a generally sluggish sales market, the appeal of owning a private vacation home is strong. It provides a get-away retreat from the stresses of a busy work and home life.

“Vacation home purchases are largely tied to lifestyle consideration,” it was noted in the NAR report. “Households seek to own an additional home in a desirable destination.”

Other buyers see the current market as an opportunity to acquire homes as investments, sometimes at below-market bargain prices. The purchase of a home for investment is a dollars-and-cents decision resting in part on current cash flow from rental income and expectations of future profit gains. The motivation to buy investment homes is partially driven by investors seeking to diversify their assets and generate income.

For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 1-800-553-4666.

Tags: Craig's Weekly Tips, Real Estate
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WHEN A PROFESSIONAL MARKETS YOUR HOME

By Delia Reece

Apr 05, 2010

Promoting the sale of a home requires planning. When a real estate professional takes on a home listing, they develop a systematic approach to selling the property. As the homeowner, it’s essential for you to be informed about your realtor’s business plan for selling your home. Feel free to ask your realtor questions to help you understand the process. Who are the potential buyers for your particular location and price range? What forms of media will be used to advertise the listing? Will the home be promoted with multiple photos and a virtual tour of the property? How will the realtor work with other local real estate professionals?

Part of your agent’s job is to protect you by screening buyers, identifying those who are serious and pre-qualifying those who have the resources to make a credible offer. Realtors specialize in the art of communication and negotiation. They will escort buyers through your house to maintain your privacy and protect the security of your home.

Your real estate agent is your skilled collaborator in the campaign to market your home successfully.

For rock solid advice on buying or selling real estate, call The Reece Team toll free at:

1-800-553-4666.

Tags: Craig's Weekly Tips, Real Estate
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1Q 2010 Deer Valley RE Sales show 300% increase!

By Delia Reece

Apr 02, 2010

Silver Strike Lodge

What a difference a year makes! Real estate sales for the first quarter of 2010 are up dramatically, with 64 properties selling in the last 90 days. Total sales volume in Deer Valley from Jan 1 thru April 1 2010, was approx $143M, the sales to list price ratio approximately 89%, average 'Days on the Market' was 122. Compare this to the same time period in 2009, where only 21 properties sold in all of Deer Valley. Total sales volume was $59M, list to sold ratios were 94%, and average 'Days on Market' 323.

Taking a closer look, what does this reveal. Buyers are feeling more confident and coming back into the market as they realize these prices are probably the lowest they're going to be. Interest rates are still low, and sellers who didn't sell their properties last year are lowering prices and giving more concessions. Savvy buyers are taking advantage of motivated sellers, developer auctions, and 50% off premium ski-in/out properties. It truly doesn't get an better than this. Now truly is the perfect time to own in Deer Valley.

Please contact me if you'd like to get a report of the local market statistics; dreece@pureutah.com

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