JUST LISTED
PCMLS# 9984870 WFMLS# 966770
On the 6th Tee Box at Victory Ranch
Views of Golf, meadows, conservation area and the picturesque Cliffs.
JSSD assessment has been paid in full.
See More Information on Victory Ranch Club
Talisker Expands with Purchase of The Waldorf Astoria Hotel at The Canyons
Talisker recently announced its purchase of Park City’s newest luxury hotel, The Waldorf Astoria Park City, located at The Canyons.
The Waldorf Astoria, Park City, opened last summer at the foot of Talisker’s ski resort, The Canyons. The hotel includes 170 rooms and condominium units, dining at Spruce, as well as the Golden Door Spa which offers an exquisite menu of services available to hotel guests and the community alike.
“We are proud to add this wonderful and complementary asset to the Talisker and Canyons properties in Park City”, said Jack Bistricer Chairman and CEO of Talisker. “The Waldorf Astoria, integrated into The Canyons Resort, will expand The Canyons’ offerings and Talisker’s Definitive Alpine Living experience.”
Talisker is developing real estate in several Park City area communities, including The Canyons ski resort, Empire Pass at Deer Valley Resort, Tuhaye golf course community, and others comprising more than 13,000 acres throughout the area. As the creator of the remarkable Talisker Club, Talisker has been recognized by the Robb Report as the Best of the Best of Mountain Resorts, and by Travel + Leisure Golf’s America’s Top 100 Golf Communities.
About The Waldorf Astoria Park City
The Waldorf Astoria Park City is located in one of the most beautiful natural settings in the West. Waldorf Astoria Park City and Golden Door Spa is the first ski-in, ski-out resort added to The Waldorf=Astoria Collection. The property boasts luxury accommodations; a Golden Door Spa; the award winning Spruce Restaurant; meeting space; pools and kids camp. Outdoor patios with fire pits, and hot tubs provide guest areas of relaxation for use year-round. The Frostwood Gondola provides exclusive access to The Canyons mountain amenities.
The property’s 105 full ownership residences are appointed with custom designed furniture and carpeting, natural colors and rich interiors to create a casual yet elegant atmosphere. Available in studio to four bedroom configurations, residences, starting at $299,000 and are fitted with fireplaces, flat screen HDTVs, spacious baths with jetted tubs and Euro showers, washer & dryers and private patios or balconies. Residences offer a large gourmet kitchen featuring Viking appliances and granite counter tops.
The Golden Door Spa, one of only six in the world, housed in the Waldorf-Astoria Park City. The 16,000 square foot facility includes 15 treatment rooms featuring signature Golden Door offerings as well as a full-service hair and nail salon and a custom menu of fitness classes, including cardio, yoga, meditation, stretching, Pilates, Kinesis and resistance training.
Waldorf Astoria Park City is the first outpost of the award-winning Spruce Restaurant of San Francisco, a sophisticated restaurant offering seasonally inspired, Contemporary American cuisine created by Executive Chef Mark Sullivan. The 5,000 square foot restaurant hosting 140 indoor and seasonal outdoor seating includes private dining areas and a lounge, all with sweeping views of the surrounding Wasatch Mountain Range. The restaurant offers an unparallel wine and spirits program, including handcrafted cocktails and an extensive wine list of more than 1,400 wines from vineyards around the world.
Please contact me for sales information about the Waldorf Astoria Park City.
Tim Gaebe
435-602-0657
tgaebe@pureutah.com
Summit County called one of
America’s wealthiest counties
According to Forbes.com, it’s an anomaly
by Andrew Kirk, OF THE RECORD STAFF
Posted: 03/10/2010 12:47:13 PM MST
Last week, Forbes.com assembled a list of America’s top 25 richest counties. With a median household income of $85,258 in the 2008 calendar year, Summit County made No. 22 on the list.
That’s probably no surprise to people familiar with the community and the price of housing here, but what may be surprising is the fact that it’s one of very few vacation communities and the only one not adjacent to a major metropolitan area.
The latter point is the explanation Forbes-writer Francesca Levy gives for why these 25 counties are so wealthy. Almost all of the counties are within driving distance of the Washington, D.C. and New York City metropolitan areas. Two are in the Bay Area: Marin across the Golden Gate Bridge from San Francisco and Santa Clara to the south in Silicon Valley. All the rest are bedroom communities for Denver, Colo.; Atlanta, Ga.; Nashville, Tenn.; and Baltimore, Md.
People with high-paying jobs often want to live in beautiful suburban areas with good schools. All 25 counties match that description, but Salt Lake City is not comparable in size to those other seven cities.
What accounts for Summit County’s wealth?
Mark Seltenrich, president of the Park City Board of Realtors, helps people look into moving here all the time. He said its proximity to Salt Lake City is only piece of a larger pie.
“Utah isn’t known for the high wages of the coasts,” he said. “People who live here they’re bringing the money with them.”
There are plenty of Summit County residents who commute to Salt Lake City, but for several reasons Park City has become attractive to people who can work anywhere. Some residents telecommute or have home offices. Others travel for work – like airline employees – and need close proximity to a major airport.
Park City’s year-round outdoor recreation makes it popular with people with enough money to retire early, or who are looking for quality of life in the place they choose to reside, he said.
Many parents also scrutinize school districts carefully.
Aspen, Colo., for example, has great quality of life, but their public education system isn’t as good as Park City’s, he said. All wealthy areas have private schools, but many parents feel their child gets a more “normal” or well-rounded experience in public schools.
Additionally, Park City has many long-time residents who preserve the community’s character. It’s a real town, not just homes surrounding a ski resort, he said. Many people value a feeling of community.
All of these factors make Summit County an attractive place to locate one’s primary residence – not just a place to buy land or have a vacation home. That’s probably why it’s the only resort town on the list, he said.
And the richest county in America? Loudoun in Virginia just outside of Alexandria.
![[icon]](http://barrons.wsj.net/public/resources/images/OB-HT700_ba_cvr_BA_20100306010550.jpg)
Barrons – 10 Best Places for Second Homes
By STEVEN M. SEARS
March 8, 2010
Prices of luxury real estate are finally starting to rise, as bargain hunters swoop in. Some of the best deals are in second homes with pricesoff as much as 40%.
AT LONG LAST, THE MARKET FOR LUXURY REAL estate is coming back to life.
Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward.
In Greenwich, Conn., realty brokers say, the final months of 2009 were almost record-setters for sales volume, as two years of pent-up demand was unleashed. Even the megadeal is back. In Beverly Hills, film producer Jeffrey Katzenberg just plunked down $35 million for an 8,700-square-foot home on six acres.
There’s nothing like a stabilized economy and a huge rebound in stocks to send folks looking for the perfect manse. The return of hefty Wall Street bonuses hasn’t hurt, either.
With all that in mind, and with summer just around the corner, Barron’s sized up the market for upscale second homes, one of the greatest luxuries of all. We scoped out dozens of deluxe enclaves across the country, speaking with brokers, homeowners and others. Our conclusion: Now could be an excellent time to buy.
Prices are way down — 40% off the peak in some locations. Seemingly at or near bottom, they are starting to attract the first wave of bargain hunters — and not just families in need of R&R. Hard-nosed investors also are on the prowl, says Jan Reuter, head of residential real estate at U.S. Trust Bank of America Private Wealth Management: “We’ve seen an uptick in buying in just the last couple of months.”
To help you in the hunt, Barron’s has selected the 10 best places in America for second homes. These alluring locales have it all: gorgeous houses, spectacular views, world-class golf, fishing and skiing, fine dining and great shopping. You’ll find the complete range of lifestyles, from peaceful and easy to vigorously social.
Some warnings: 1) Our selections are every bit as subjective as tastes in homes themselves. 2) The prices cited are based mainly on conversations with locals, because hard data isn’t available. 3) Your plush new retreat may take some time to rise in value. Serious appreciation will require a better economy and, quite possibly, another big rally in stocks.
But hey, you could do worse than marking time in paradise.
#1 – Maui
#2 – Kiawah Island, SC
#3 – The Hamptons, NY
#4 – Park City, Utah
4. Park City, Utah Skiers love Park City for its powdery winters, but homeowners relish the summers, too. The crowds thin out, life slows down and the tall aspens lining the nearby Wasatch range shimmer in the breeze. The one-street Old West downtown is dotted with classic Victorian houses, while Deer Valley, an understated year-round resort community, sits on the eastern edge. Its namesake ski hill has been crowned by readers of Ski Magazine as North America’s top ski resort for three years running. For $100,000, you can join the nearby Talisker Club, with links designed by PGA Tour Champion Mark O’Meara. Bonus: Salt Lake City International Airport, a Delta Air Lines hub, has direct flights to the East and West Coasts.
Median Price: $1 million
Drop From Peak: 45%
Neighbor: Robert Redford
#5 – Aspen, CO
#6 – Pebble Beach, CA
#7 – Palm Beach, FL
#8 – Captiva/Sanibel Island, Fla
#9 – Asheville, N.C
#10 – Gasparilla Island, Fla.
Now is the time to purchase your second home in Park City, Utah. With auctions and price reductions as much as 40% in luxury developments, you won’t find a better time to invest in Park City.
Search Park City Real Estate Now
Silver Strike Lodge
Flagstaff at Empire Pass (up to 40% off)
Village at Empire Pass
Lookout at Deer Valley Auction (up to 59% off)
Westgate Lodge at The Canyons Auction
Tim Gaebe
Prudential Utah Real Estate
435-602-0657
www.parkcitysecondhome.com
2010- A Value Driven Market
Prudential Utah Real Estate Spring Newsletter
A timely convergence of opportunities—dropped prices, low interest rates, availability of product and motivated sellers—have created a “perfect storm” of value in Park City’s real estate market. This opportunity may be a fleeting squall, however, as the nation rises out of a recession. For buyers looking for a refuge for their families, now is the perfect time to take advantage of Park City’s excellent values and excellent choices.
Reduced Home Prices
Home prices in the Park City area have dropped considerably, offering better values than we may see for several decades. While no one can predict with certainty if the local market has hit rock bottom, total sales volume in Park City has climbed slowly but steadily each month since November 2008*.
Search Park City distressed condos for sale
Search Park City and Deer Valley distressed homes for sale
Reduced Interest Rates
Even if Park City real estate prices fall again, they would need to drop another full 10% to balance out a 1% rise in interest rates. While most believe the first scenario is unlikely, rising interest rates are almost certain to occur. “Going back over 30 years, my data shows that interest rates are at a near historic low,” says Rick Klein of Mountain Summit Mortgage. “Between now and the middle of 2010 would be an excellent time to take advantage of interest rates,” offers Klein.
Limited Availability of Product
In contrast to most of the nation, the supply of quality housing product in Park City has thus far been able to keep up with the demand. However, the relatively small size of resort developments means that this wide selection of product may not last long. Unlike urban projects that offer hundreds of units, Park City’s new construction can quickly become scarce.
Empire Pass in upper Deer Valley has seen increased sales over the winter. The Montage Deer Valley will open in December 2010, offering residences for private owners, Flagstaff at Empire Pass has been offering as much as 30% to 40% off, but this won’t last long.
Motivation of Sellers
Because our market held up better at the beginning of the national housing downturn, area sellers were reluctant to lower their prices. Today, sellers, developers, and lenders alike are now seeking debt relief, minimizing cost of carry, and working to remove non-performing loans from their books. But, this seller incentive may be short lived; if sellers believe the market will correct, they may quickly become less motivated.
Promontory Ranch Club is offering some of the most incredible real estate deals in Park City. With lots starting at $100,000 and nearly completed homes starting at $595,000, now is the to purchase your dream home.
The simultaneous convergence of market forces and an overall soft economy could not offer a more favorable time for buyers. You won’t want to miss it.
Search Park City Real Estate now
Tim Gaebe
Prudential Utah Real Estate
435-602-0657
www.parkcitysecondhome.com
Promontory Ranch Club is a second home mountain community overlooking Park City and Deer Valley, Utah. It is a place that brings families together, strengthens friendships and allows a true sense of community to flourish. At Promontory Ranch Club, up to five signature golf courses are planned for this private gated community, currently offering the Pete Dye Championship Course and the Painted Sky 18-hole Jack Niclolas, not to mention three world-class ski resorts within minutes of Promontory. Ranch Club members will also enjoy their own exclusive ski lodge at Deer Valley.
Jack Nicklaus does it again. Set against a stunning mountain backdrop in Promontory’s scenic Painted Valley, the course will delight the senses and reward players of all abilities. The Painted Valley Golf Course is rated the toughest course in Utah and in 2008, was rated the 3rd Best New Private Course in the country by Golf Digest Magazine.
My favorite, The Pete Dye Canyon Golf Course has received numerous accolades, including Golf Inc. magazine’s “2003 Golf Development of the Year.” Anchored by the architecturally astounding Pete Dye Clubhouse, this course is a sanctuary devoted to the appreciation of golf and the comfort to family.
Experience the West the way it was won: on horseback! Manager Adrianna Silvestri commands an equestrian club that stands as a significant testament to Promontory’s commitment to horse training, riding performance, and blue ribbon care.
Designed exclusively for the equestrian members of Promontory, the Equestrian Center provides an ideal experience for every level of rider, whether you envision a family trail ride or you long to learn fine horsemanship.
Indulge and revitalize at the Spa and Fitness Center.
Kids are always welcome! A complete list of activities,including a Kids Clubhouse for ages 4-12 await your family members.
CONVINCED? Promotory is one of the best buys in Park City real estate. With lots starting and $100,000 and homes from $595,000, isn’t it time to invest in Promontory?
Search Promontory Lots now
Search Promontory Homes Now
PROMONTORY RANCH CLUB
Let me know if I can help you find the perfect home at Promontory.
Tim Gaebe
Prudential Utah Real Estate
www.parkcitysecondhome.com
435-602-0657
Tuhaye Golf Club is nestled along the eastern slopes of the Jordanelle Reservoir, just minutes from Park City and Deer Valley. With 10,000 acres of land and a 20-mile trail system, hikers, mountain bikers and nature lovers of all ages can always find someplace new to investigate. More than a pure golf and ski community, Tuhaye is a timeless living environment brought to life by a visionary team of lifestyle creators.
Simply by owning a home or homesite at Tuhaye, you are welcome to a five-star world of amenities at Tuhaye as well as the Talisker Club at Deer Valley, the best of all possible worlds in one all-inclusive membership.
Search Tuhaye condos and homes for sale
Lots are unbelieveably priced starting at just $275,000
Search Tuhaye lots for sale
Prudential Utah Real Estate is the listing agent for Victory Ranch Club. They have just announced that the 30% discount on remaining lots will end March 31, 2010. This is an incredible opportunity to purchase a lot and build your dream home.
The new Rees Jones golf course has created an enormous “buzz”. Many who played it have stated that it is the best golf course in Utah. A world-traveling PGA pro said, “Most amazing in-land course I’ve ever played”. Rees Jones, golf writers and other aficionados believe it may be rated in the top 100 courses in the United States. This will soon attract a greater interest from the nation-wide market.
Prudential has offered Freestone Friday’s throughout the winter with only a couple left. Contact me at 435-602-0657 if you’d like more information about these events. We had an incredible catered dinner as well as learning how to roll sushi at the last party; High West Distillery is catering the next event. I’d love for you to be my guest.
Search Victory Ranch Lots for sale
Search Victory Ranch Homes for sale
Even though it’s still winter, the fishing has been outstanding!
Come join me!
Tim Gaebe
Prudential Utah Real Estate
435-602-0657
more info on Victory Ranch
The following article was recently published in the Park Record regarding the recent auctions in Park City.
More developers want to auction off new units
Success of Silver Strike Lodge prompted two more in March
“The folks we’re selling to are very, very smart,” he said. “They’re buying now below replacement costs, and sooner or later that’s not going to happen anymore, we’ll run out of supply first.”
by Andrew Kirk, OF THE RECORD STAFF
The Park Record, Park City, Utah
Posted: 02/19/2010 05:02:22 PM MST
On Dec. 26, The Park Record reported that developers of the Silver Strike Lodge at Empire Pass would auction off eight brand-new units. The developers thought this may have been a first for Park City. In essence, it was a kind of experiment, and response to the article indicated some wished them well, others thought it was a charade. As a result of the auction on Jan. 17, all but one of the units in the lodge have now been sold, and two other Park City developers have signed up with the same auction company Accelerated Marketing Partners.
Developer Matt Mullin said in December he wanted to put Silver Strike Lodge units on the auction block because willing buyers are out there, they just aren’t buying because they’re worried about overpaying. An auction allows the buyers to come forward and together establish the true market value of a unit without any suspicion of someone getting a better deal. It also allows for a quick disposal once the agreed-upon value is established.
Mark Waltrip, chief operating officer for Westgate Resorts will offer 44 condominium residences at The Lodge at Westgate Resort & Spa on March 28. Located at The Canyons, these condominiums are much smaller than those at Silver Strike Lodge (they average at about 750 square feet) a but have much better amenity packages, Waltrip said. The Silver Strike Lodge condos sold for about 40 percent of true retail, and Waltrip said he’d be more than happy with the same.
Because the units are smaller, at a good location and fully furnished, he expects them to sell quickly. And like Matt Mullin, that’s part of the appeal of the process. Westgate manages timeshares and wants to be rid of the unsold whole-ownership condos at the Park City resort, he explained. “This is a good approach to sell off balance of our inventory,” he added. “This is not a company in trouble You’re dealing with a 42-year-old company servicing (this resort) to the same level we’re servicing all other resorts.”
The other developer, Henry Sigg, will auction off seven “homes” in the Lookout at Deer Valley development , close to the Silver Lake Village on March 27. They’re all “condos” he said, but some are attached, some detached ranging from 4,317 to 5,866 square feet. Sigg, too, said he’s perfectly fine letting the units go for less than market price. It’s about moving inventory, he said. The market has gone through a correction, and in order for stability to return, inventory levels need to go down. “You’ve got to remember, prices in the heyday were too high to begin with,” he said. When auctions dispose of units quickly it spurs demand. The same number of units it takes a whole season to sell can find buyers in a single day. They also attract a variety of bidders, which drives up the winning bid. There’s a need for transparency in real estate, he said. “People have trepidation. They don’t want to overpay. People are comfortable when they know what the guy next door paid, they like knowing they got the same deal everyone else is getting,” he said.
Could the popularity of the method drive down prices too far? Ken Stevens of Accelerated Marketing Partners said not with this kind of uniqueness in each development. When similar properties are auctioned en masse, that might happen, but there are no other seven homes like the ones at Lookout and no other vacation condos with the amenities offered by Westgate. Also, buyers come in and go out of the market every four to six months so it’s always changing. But there’s a finite amount of product to be sold, he said. These quick sales will speed the day when buyers are all confident the market has hit bottom and price pressures will resume. “The folks we’re selling to are very, very smart,” he said. “They’re buying now below replacement costs, and sooner or later that’s not going to happen anymore, we’ll run out of supply first.”
PRE-REGISTRATION IS REQUIRED
Call or email Tim Gaebe at 435-602-0657 to receive complete details on Westgate auction and The Lookout at Deer Valley auction pricing
Although I am not a member of the auction sales staff, I work hand-in-hand with the developer and have the most current and up-to-date information on the The Lodge at Westgate Resort & Spa auction and Lookout at Deer Valley auction. I look forward to assisting you as your un-biased buyer’s agent.
Tim Gaebe
435-602-0657
tgaebe@pureutah.com
www.parkcitysecondhome.com
Silver Strike Lodge at Empire Pass – only 5 units remaining
!!!!!! AUCTION PRICING – WITHOUT THE AUCTION !!!!!
FINAL RELEASE OF 5 UNITS WITH AUCTION PRICING THROUGH 3/1/2010
Don’t miss out, only 5 units remaining at Silver Strike at auction pricing.
Contact Tim Gaebe for a list of availabe units and pricing
Tim Gaebe
Prudential Utah Real Estate
435-602-0657
www.parkcitysecondhome.com
