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Home Buying in Park City : Real Estate Advice

  • All125
  • Local Info4
  • Home Buying23
  • Home Selling4
  • Market Conditions5

Activity 25
Wed Sep 2, 2015
Daimon Bushi answered:
I am not sure how to search specifically on trulia, but i can tell you that there are very few bank owned/foreclosure homes available in today's market place. Currently there are only 2 bank owned and 2 short sale listings currently available in Park City. If you would like to be sent automated emails of new foreclosures/bank owned listings, please contact me directly and I will be happy to set you up.

Daimon Bushi
Principal Broker Rising Star Realtors
435-200-4959
DaimonBushi@gmail.com
... more
0 votes 1 answer Share Flag
Sun Jun 28, 2015
mike mike asked:
Wed May 20, 2015
Nick Coleman answered:
Hi Kelley,

You're looking at the right time ... short-term/seasonal rentals have opened up again. There are a few places I would suggest looking:

- ParkRecord.com - our local newspaper .... look in the classified section for rentals. With the end of ski season, you'll see properties showing up constantly for summer rental.
- VRBO.com, homeaway.com, or parkcityrbo.com -- book a rental directly with an owner. During ski season, these are generally nightly rentals. But, owners will rent by the month in the summer.
- Coalitionmgmt.com - property management company that focuses on monthly rentals
- GreaterParkCityProperties.com - monthly rentals
- We're a vacation town, so obviously there are a lot of other property management companies that during the ski season will deal with nightly rentals. But, in the summer, they may also rent those same properties on a monthly basis. If the above don't work out, try these. There are to many to list individually ... but Google "park city vacation rentals" or "park city seasonal rentals" and you see a pretty good list to check.

On the location, Park City runs a free bus that services both Park City and surrounding neighborhoods. So, your son could live out of town and get to work without a car. You just want to ask if the unit is on the bus route.

Nick Coleman
Equity Real Estate - Luxury Group
435.640.7781
... more
1 vote 1 answer Share Flag
Fri Apr 24, 2015
Rjrj3224 answered:
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 9 answers Share Flag
Sun Mar 22, 2015
Jeff Tomlinson answered:
Gary,

The best resource for doing so is a realtor. The reason being is that they generally know about the process and usually have connections within the industry. You can get list from them and sometimes the bank will publish these lists as well. Keep in mind that banks will only list or sell their properties with agents since they know the process and the banks don't have to hire or have a staff of agents.

Jeff
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0 votes 1 answer Share Flag
Mon Nov 17, 2014
Katrina Authement answered:
HI Jason,

I would love to help you find the right neighborhood in Park City. Choosing the right neighborhood is very important. As you know every neighborhood is different and a lot of factors will go into making that decision.

Some of the questions that will need to be answered for example are: Will you be commuting to Salt Lake City for work? Do you want to walk to restaurants, shopping, nightlife, entertainment, etc. or do you mind a short drive? Is access to public transportation important? What about schools?

There are many wonderful neighborhoods in Park City. I would love the opportunity to help you select the right one for you.

Please let me know how I can help. I look forward to hearing from you.

Sincerely,

Katrina Authement
Coldwell Banker Residential Brokerage
ABR, GRI, MCNE, NCS, SFR
435.640.1488
katrina@katrinaauthement.com
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0 votes 15 answers Share Flag
Tue Mar 18, 2014
Sharon Eastman answered:
Hi Steve, Sorry for seeing your question so late...and you have probably been inundated with agents offer their services to help you relocate. I would love to help you find a place. Working with a few other buys in your price range so know what is available. Please shoot me your email and I will fill you in. Sharon@SharonSellsParkCity.com Best of luck to you...you will LOVE Park City! ... more
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Wed Dec 4, 2013
Darrell Johnson answered:
Trulia.com is usually pretty good about providing information about homes listed on the Multiple Listing Service (MLS). This time, however, they are a little bit off the mark. Although the Trulia Listing has the home listed in Park City and zip code 84060, the beginning of the Listing Details in the Trulia listing starts with the phrase "WALK TO MIDWAY VILLAGE". Accordingly, if you adjust your MLS search to look for the same home in Midway Utah, you will find that the home in question was already sold in July -- and can be found in the Park City Multiple Listing Service under Listing # 9995192. ... more
0 votes 3 answers Share Flag
Sun Sep 29, 2013
Todd Anderson answered:
Park City condos will tend to cover HOA fees taxes and insurance, but not much more as a general rule. You'll need to consider the shape it is in and whether or not it will need a remodel soon. Also, the weeks that you plan on using the condo will impact the rental revenue.

Consider it an investment in lifestyle.

Call me to discuss your options and opportunities further.

Todd Anderson
(435)901-1417
Todd@YouInParkCity.com
... more
1 vote 3 answers Share Flag
Thu Sep 19, 2013
Lizadawg answered:
Try this one.. He might do a lease for you as he is trying to sell it...
115 Crestview Dr #3
Park City, UT 84098
6 bed, 3 full, 1 partial bath 3,061 sq
0 votes 4 answers Share Flag
Thu Sep 19, 2013
Lizadawg answered:
Try this one... 115 Crestview Dr #3
Park City, UT 84098
6 bed, 3 full, 1 partial bath 3,061 sq

I know he is looking to unload it at around $500K.
0 votes 3 answers Share Flag
Sun Jan 6, 2013
Heather Feldman answered:
Cam,
Typically families that move here from other areas and would have put their kids in a private school in their old area place their kids in public school here in Park City. We have 4 elementary schools and we also have a dual immersion program for Spanish and French.

I have a 12 year old son that has been in the Park City school district since 1st grade at Trailside Elementary and we have had a great experience. Of course, check out the Park City schools website, call the individual schools and speak with the principal. When we were considering moving here in 2005 we walked through the school with the Trailside principal to get a feel.

Please feel free to contact me about any other questions you may have regarding Park City vs Salt Lake City. Check out today's air quality rating. SLC gets an inversion where the smog gets trapped in the valley and air quality is poor. Here in Park City we don't get that at all. Google it. I am sure you will find plenty about it.

Another good thing to know is you can buy a home here for less than you think. You can spend in the high $300's for single family up to multi millions. Condos are available for even less.
Copy the address below to search the MLS here.
http://search.parkcityhousehunters.pcmls.com
Thanks
Heather Feldman
Equity Real Estate Luxury Group
435-731-0803
heather@parkcityhousehunters.com
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0 votes 3 answers Share Flag
Sat Jan 5, 2013
Nick Coleman answered:
I had the same decision when we first moved to Park City ... commute to SLC and good internet connectivity.

My suggestion is to look at neighborhoods between Parleys summit (pass you come over out of SLC when coming too Park City) and the turn into Park City: Jeremy Ranch, Pinebrook, Summit Park and Timberline,. You can be downtown SLC in 20-25 minutes. Internet connectivity in most of the neighborhoods (although there are a few pockets with issues). But, for example, in Summit Park, we're getting 25mps over Comcast cable. And, friends in Pinebrook get similar speeds.

If the commute time is really important, then I would suggest not purchasing along the corridor between I80 and Park City. During ski season, that can occasionally get backed up (of course, backed up means extra 10-15 ... so, it isn't extreme).

Pinebrook and Timerline will have the large lots ... around an acre and are pretty quite. Jeremy Ranch lots are smaller. Summit Park lots vary greatly in size and most are fairly vertical.

Hope that helps -- and, think you'll love living in Park City. Feel free to give me a call/emaill for more information on a specific property or to see one.

Nick Coleman
Equity Real Estate Luxury Group
435.640.7781
nick@parkcitysold.com
http://www.parkcitysold.com
... more
0 votes 6 answers Share Flag
Wed Jan 2, 2013
Jim Bradley answered:
I would prefer the West Side of Jordanelle Reservoir. On the West Shores of the lake you are the closest to the Mayflower Ski Lift to gain access to the World renowned Deer Valley Ski Resort. In the Summer months you are right next to the lake access where you can Paddle Board, and with a Motor Boat you can water ski and of course fish on the lake as well. A few miles to the South on Highway 40 you can spend some time fly fishing on the Middle section of the Provo River. Not bad having so much so close. Although if you are more inclined to spend time on a Golf Course the East side of the lake is where your will find two golfing course communities.

Best Regards,

Jim Bradley
Equity Real Estate Luxury Group
801-599-1089 Call or Text
... more
0 votes 3 answers Share Flag
Sun Sep 23, 2012
Sharon Eastman answered:
Hi Guys,

Note the date on this posting....I already sold him something :-)
0 votes 9 answers Share Flag
Sat Aug 18, 2012
Nick Coleman answered:
2780 Eladar Place went under contract on August 10, 2012.

You can see the current status (link to Park City MLS) of the the property at: http://bit.ly/2780EladarPlace

If you're interested in other homes in the Solamere Deer Valley neighborhood (i.e. those around 2780 Eladar Place) , you can see them at: http://bit.ly/Solamere

Let me know how I can help,

Nick Coleman
Equity Real Estate Luxury Group
Email: nick@parkcitysold.com
Phone: 435.640.7781
Web: http://www.parkcitysold.com
... more
0 votes 3 answers Share Flag
Sun Jul 29, 2012
Nick Coleman answered:
I'll need to make a few assumptions as I try to answer that question ... but, you can adjust them to match your exact situation First we'll look at the cost and revenue assumptions

Property Price: $500,000
Mortgage (assumes 30% down): $1,700/month or $20,400/year

Property Maintenance: $2,500/year
Property Utilities: $2,400/year
Property Insurance: $600/year
Property Tax: $5,000/year
Property HOA: $3,600/year

Property Management Costs: 50% of rental (they find the renter for you ... do it yourself at VRBO.com)
Number of ski days (days resorts are open): 155 days
Number of ski days rented (75%): 117 days
Avg. ski season rate: $500/night
Gross ski season: $58,500

Number of off-season/summer days rented: 90 days
Avg. off-season/summer rate: $150/night
Gross summer season: $13,500

Gross Yearly: $72,000
Net (after $36K Prop. Mgt): $36,000
Net (after $14.7K expenses): $21,300
Net (after $20.4K mortgage): $900

You could save a considerable amount by managing the rental yourself (using VRBO.com) and hiring maid service to clean up (a lot of folks charge renters a $150-$200 cleaning fee in addition to the nightly rental rate).

I also have a spreadsheet I've put together that can let you do 'what-if" scenarios. Just call and I'm happy to send that to you for free and with no obligation.

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

Nick Coleman
Equity Real Estate Luxury Group
435.640.7781
Mail: nick@parkcitysold.com
Website: http://www.parkcitysold.com
... more
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