Home Buying in Park City>Question Details

Carrie, Home Buyer in Scottsdale, AZ

Considering Parks Edge and The Retreat for a 2nd home. insights into these developments/developersbuilders? Any issues? outlook for area?

Asked by Carrie, Scottsdale, AZ Sun Jun 24, 2012

We are out of state looking for a vacation home.

Help the community by answering this question:

Answers

10
park's Edge and The Retreat, as everything else in the area seem to be selling fast. Are prices expected to rise? Zillow predicts a 3.3% decrease in the next year.
0 votes Thank Flag Link Fri Apr 24, 2015
When answering questions about homes, I always ask about the buyers lifestyle ... that helps answer in terms that are applicable to them as individuals.

Both developments are few things in common:
Pros:
- Both are Green builds ... that means less environmental impact as well as lower utilities
- Both are by the same developer (GCD) and are one of the few active new developments in the Park City area.
- Reasonable pricing for new construction

Cons:
- Both are on the outskirts of Park City, which might impact their rental income potential (ski vacationers tend to want to be closer to the slopes). But, also means less tourist traffic impact.
- Need to drive to slopes
- Need to drive to shopping and picking up groceries

You can see all the current properties for sale in both these communities and those around the Jordanelle at: http://www.parkcitysold.com/fine/real/estate/newsearch/lndgn…

Let me know if you have questions ... and, also ask about help with your closing costs

Nick Coleman
Equity Real Estate Luxury Group
435.640.7781
http://www.parkcitysold.com
0 votes Thank Flag Link Sun Jul 29, 2012
Yes, Carrie, prices are still in the range of a Buyer's market. There are some great units at the bottom of Main Street called Park Station. There are two 4 story brick buildings witha pool between the two buildings. At the height of the boom one sold at $525,000. right now there are two units available at an asking price of $309,000. HOA dues are low and the building is a stone's throw to the Town Lift and on the busline. these are 1400 SF+ with two bedrooms and two full baths. In my mind, the value and future appreciation is in a loction in town.

Ginny
0 votes Thank Flag Link Fri Jun 29, 2012
I have read these varied and interesting perspectives on Parks Edge and the Rustler. Since they are my listings I feel very qualified to give my two-cents. I have lived in Park City for twenty years and watched it explode into the suburban community it has become. There are many positive aspects to our rapid growth, as well as the downsides one expects when any small communities triples in size.

Parks Edge and The Rustler are GCD developments--one of the few builders who has and is coming through the recession standing with both feet on the ground. Do your homework before purchasing in a new community, check the things you don't see on the outside. We spend an average of $35,000 more per unit to "build green" which no one has bothered to define. How does a 38% savings in energy costs sound? How do $180.00 per month HOA's sound in comparison to the exorbitant monthly fees necessary to maintain those "older units" closer to Main Street?

Lat week while holding my normal Sunday afternoon open house at Parks Edge, one of our buyers dropped in to say hello. "We are so happy we purchased here," she said. "We have run the air conditioner every day this summer, and our utility bill was $30.00 last month. Last winter, our gas and electric bill combined averaged around $70.00. per month." It takes a lot of nightly rental income--which is split with a property management company--to justify paying as much as twice or more for an older property of comparable size--and with less ammenities.

As agents, it is our responsiblity to provide all of the information in a fair and balanced manner, allowing our clients to purchase the property that best suits their needs. It is also our responsiblity to know all of the facts. Parks Edge does not look at the lumber yard, we do have views, and we are set so far back from the road, the highway noise is not an issue. We are located on a fifteen acre compound with a 2.5 acre open park, miles of hiking trails, picnic pavillions, and a pond. Our quality inside and out cannot be found anywhere in Summit or the immediate Wasatch County area. It is true we don't have bus service, but as the demand grows, like all tax-fed ammenities, this will come. Visit us at www. parksedgeparkcity

As far as our other project, The Rustler in Hideout Canyon, if you think we don't have views, let me refer you to our website: http://www.liveatrustler.com A picture is worth a thousand words. We sold twelve units in three months and currently have a waiting list. These units are GCD built green construction, luxury twin homes featuring main-level living. The floorplans and finishes are outstanding, and the views rival those of multi-million dollar homes anywhere in Deer Valley.

When purchasing a home in another area, interview your agent. Make certain they are unbiased and willing to show you everything--whether it takes an extra five minutes or not. It is your money, spend it wisely.

To learn more about Park City and the surrounding area, call or visit me on line.
Cheryl Fine-Whitteron
435 225-2998
http://www.relocateparkcity.com
0 votes Thank Flag Link Fri Jun 29, 2012
Carrie,
The Retreat and Park's Edge are great communities. As other agents have mentioned, they are not in Park City proper, but they are within minutes to the resorts and restaurants. From either of those communities you can be on Main Street within about 7 minutes. You are close to Park City's historic Rail Trail for running, walking and biking and Quinn's Junction that has playing fields and the ice arena is super close too. For the price, you can't find a comparable unit in Park City - older and smaller, but not what you have out there.

In Park City, it is tough to find a newer property with a clubhouse and pool for such a great price.
As far as resale, Park City will always sell faster. Another thing these 2 communities are missing is Park City's free bus. Properties on the free bus are always in demand.

Please feel free to call me if you would like to discuss individual floorplans or locations available.
Heather Feldman
Equity Real Estate Luxury Group
435-731-0803
0 votes Thank Flag Link Sun Jun 24, 2012
Thanks all for all info. We are not looking to rent but just use for vacation home. We noticed sq ft pricing seemed to be lower out there but wasn't sure how that area is perceived and if there were any red flags with any of these builders/developers or that area. How about PC prices? Still a buyers market?
0 votes Thank Flag Link Sun Jun 24, 2012
Are you considering renting the unit when you are not able to use it yourself? If that is the case, then the nightly rental market in Park City is significantly stronger. I would suggest you consider Park Station not only for nightly rental potential but also for appreciation. These units are under valued at this time.
0 votes Thank Flag Link Sun Jun 24, 2012
These developments are located in Wasatch County as opposed to Summit County where Park City is. The future development in that area is in the thousands of units, so location will be important. These units are in a convenient location as far as access, but they have no views and are relatively close together. They are priced at the lower end of the spectrum for being near Park City, but located next to a building supply company and a soon to be built gas station. Builder is reputable and the green design of Parks Edge is a plus, but there are many options in the area.
It is a buyers market, be sure to look at all options in the areas that may suit your needs. If you need assistance with your research, please contact me.

Thank you,
Greg Harrigan
Realtor Certified Negotiation Expert
Keller Williams
435 714 0909
greg@parkcityrealestateguide.com
0 votes Thank Flag Link Sun Jun 24, 2012
I think that the highway noise and dust will hold down potential resale on these units. They are now priced at about $200+ per square foot. I think you should see Black Rock at well under $200/SF before buying at the Retreat or Park's Edge.

Ginny Schulman
435-602-3600
0 votes Thank Flag Link Sun Jun 24, 2012
Park's Edge is a great little community and the developer is doing a lot of expansion. What you get for the price is hard to beat anywhere else in the area. Built using Green products and of high quality. The Retreat is also very similar and would not be a bad choice either.

Area is expanding well just outside of PC above the Jordanelle and these will start selling even more when inventory in Park City starts to dwindle.

Let me know if I can help you take a look at either development.

Ben Fisher
RE/MAX Associates
435-962-0192
0 votes Thank Flag Link Sun Jun 24, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer