If you want the Park City lifestyle but need to commute to Salt Lake City frequently, Jeremy Ranch may be the perfect neighborhood for you. Conveniently located off Interstate 80 between the Summit Park and Kimball Junction exits, Jeremy Ranch is a community of custom homes built around the beautiful Jeremy Golf and Country Club. Golf Digest once ranked this private club designed by Arnold Palmer #1 in Utah. If you’re not a golfer, that’s ok too — owners are not required to be members. There are also plenty of hiking and biking trails accessible from the neighborhood. Jeremy Ranch is also home to the Jeremy Ranch Elementary School and has a park-n-ride so you can catch the free Park City Transit bus into town or carpool to Salt Lake. Below is just a sampling of the homes available. See ... 05/06/2011

So much of Park City's economy is tied to the three major resorts in the area: Deer Valley, Park City Mountain Resort, and the Canyons. Fortunately, those resorts all understand their obligation to help promote a clean, healthy environment. And the city helps do its part too. Park City is committed to clean, renewable energy. That is demonstrated by the city's commitment to the Blue Sky program from Rocky Mountain Power. Through the program, individuals and businesses can purchase blocks of renewable energy. Each purchase helps build a market for renewable energy and supports community-based projects.You can learn more about Park City's Blue Sky efforts or you can sign up for Blue Sky yourself. Consider buying one or several blocks when you move into your new home. 05/05/2011

A question that is not often asked by new buyers is, “what is the difference between a townhome and a condo”? Quite honestly, I am not sure why more people don’t ask this question because confusion seems to exist, even among some appraisers and new real estate agents.  There are differences between the two types of housing and they do matter. For the most part, and without getting too complex, the difference between the two is how the real estate is titled and therefore owned. Two common ways to own a property is Fee Simple (owning land) and Condominium (owning defined space).   Not always, but generally, a condominium is titled a "Condominium." This means that the owner of a condo owns the insides of an individual unit and that all home owners of the development have an undivided inter... 05/04/2011

As stated in the previous post, once your offer has been accepted your work begins!  As a buyer you will have to do your due diligence.  What is that you may ask? Well, it entails a few things. Getting a home inspection and an appraisal on the property are some of the first things you should do. You will want to make sure this home is really everything it appears to be.  You may also want to speak with some of the neighbors.  You could ask the neighbors if they know anything about the property that might make you think twice about purchasing it.  All these items will need to be taken care of in the allotted time that is designated in the signed contract.  If you happen upon anything you are not comfortable with concerning the home, as long as you let the seller know about it in writing ... 05/04/2011

Looking for Bank-Owned/Foreclosures or Short Sales in Park City, UT? Check out Jeff Lorenzen Park City Real Estate. I've just added a new page for Deals. It includes links to Bank-Owned/Foreclosures in the area. And there's another link to Short Sales in Park City, Utah.     Would you like these emailed to you as they come on the market? Email me. And, if you see something you like, let me know and I can help you out. Keep in mind, these aren't the only deals in Park City. Sometimes, a well priced home can be just as good a deal. 05/03/2011

What's mud season, you ask? Elsewhere known as shoulder season, mud season here in Park City is the period between when the ski resorts close for winter season and when things really get going again for the summer season. Often this is the middle of April through the end of May. Unfortunately, due to the still melting snow and the spring showers, the trails are too muddy to ride. What can you do to pass the time until the lifts open for biking and hiking in the summer??? Maybe hit the gym and get a little more in shape. Or dust off your road bike and rack up some early season miles. Maybe settle for a jog along the road or on one of the many paved trails in town. Or sit and watch the grass grow. But don't despair -- It will soon dry up and you be back out enjoying the trails again in no... 05/02/2011

Some more photos of the neighborhoods here in beautiful Park City, Utah. These are just some of the out-of-town neighborhoods (i.e. outside of city limits) available. Photos of in-of-town Park City neighborhoods are available in an earlier post.   Kimball Junction   Biking and hiking trails in Pinebrook   Jeremy Ranch   Summit Park   Promontory   Deer Mountain above the Jordanelle Reservoir   Other out-of-town neighborhoods in Park City, Utah include The Canyons, Olympic Park, Silver Springs, Old Ranch Road, Glenwild/Silver Creek and Trailside. If you are interested in making any one of these wonderful out-of-town neighborhoods, or any other neighborhood in Park City, your home, please let me know. It really is an awesome place to live. All photos by the author, Jeff Lorenzen. 05/01/2011

So, you have found the perfect home and want to make an offer. The question is, how do you decide what that offer should be?! A few things to consider before making an offer: How long has the home been on the market? Has the asking price been dropped lately? What are similar homes going for in the area? Are there repairs or cosmetic items that need to be addressed? Are you going to ask the seller to cover the cost for these repairs or will you take care of them? Do you want the seller to contribute to closing costs?  (I always tell my clients that it never hurts to ask because you never know what the buyer is willing to do to make the sell).  When you have considered the above and want to make an offer, be sure you don’t send in an offer that is unrealistically low (this may offend the... 04/26/2011

Once you a have met with a mortgage broker and have found out what you qualify for, the fun begins! I recommend sitting down and making a list of what you want in your new home.  Put on paper everything you would like and make sure the items are listed in order of importance.  Most likely, it will be extremely difficult to find a home that has everything on your list. This is, unless, you have unlimited funds and build a home yourself!  By prioritizing a list of must haves and wants you will find what you can do without.  Most often, your ideas of what is most important will differ from your spouse, so make sure to discuss what is important to both of you.  By going through this exercise, you will save yourself time by avoiding homes that do not fit the criteria. This in turn, will spa... 04/19/2011

With the addition of another 20" of snow this weekend, Park City's snowpack is probably at its apex. April's high sun angle and warming trend tends to melt the snow faster than we get it. So how did we do? Park City Mountain Resort reports a base of 128" and a total of 424" having fallen this winter so far. Not a bad day for April. They have extended their season until April 17. Canyons reports a base of 135" and a total of 389" having fallen this winter so far. They also have extended their season until April 17. Deer Valley closed for the season on Sunday, which is great news for those of us who live nearby: snomobile assisted snowboard runs will be great for at least the next 2 months! Their 134" base will keep us all smiling for a while. It's not too late to plan your ski trip to Pa... 04/11/2011

Has anybody else noticed that available inventory of homes for sale in The Colony Park City, Utah's exclusive ski-in/ski-out gated community has dropped more than 41% in the past 120 days? Here's the complete story about homes in The Colony... 04/07/2011

Some photos of the beautiful neighborhoods here in Park City, Utah. These are just some of the in-town neighborhoods (i.e. inside city limits) available. Photos of out-of-town neighborhoods are available in a later post.   Main Street after a summer rain, Old Town, Park City   Freestyle Moguls under the lights, Lower Deer Valley   Ski Beach, Silver Lake Lodge, Upper Deer Valley   Deer Crest   Other in-town neighborhoods in Park City, Utah include Thaynes Canyon, Empire Pass, Aerie, Prospector, and Park Meadows. If you are interested in a home in any of these wonderful in-town neighborhoods, or any other neighborhood in Park City, please let me know. It really is a great place to live. All photos by the author, Jeff Lorenzen. 04/02/2011

Not quite ready to hang up the skis or snowboards yet? Good news: both Park City Mountain Resort and The Canyons have extended their 2010-11 seasons until April 17, 2011. This gives you and additional week of skiing. We've had great snowfall already this winter and there are still a few more storms in the forecast. And you can probably score some good deals on late-season lodging. So grab your skis and boards and come on out to Park City. Deer Valley April 10, 2011 Park City Mountain Resort April 17, 2011 The Canyons April 17, 2011 03/30/2011

In January, representatives of the Western Mountain Resort Alliance met in Vail and discussed the current state of resort real estate. The Park City numbers were impressive: In 2008, Park City had 737 transactions averaging $617,631/transaction. The 2009 slump hit us hard, both in volume and price: 472 transactions averaging $567,527. 2010 showed that, while volume was up, price continued to decline: 579 transactions averaging $554,903. It seems that the condo and vacant land market is to blame for the average price decline. The average price for a single family home in Park City has increased to $800,297 (in 2010) from $631,075 (in 2009). In the past year, we have seen a 26% increase in the number of transactions but only a 16% increase in overall volume. This spring could be a great t... 03/25/2011

The average home sales price in Park City, Ut real estate market during February, 2011 was down to $793,720 and average $per square foot dropped to $198.50.  This represents a decrease of 18.8%, or $184,030 in the average sale price and 12% decrease in average $ per square foot for year-over-year single family home sales in February.  So far in 2011, the average $ per square foot for single family homes in the Park City, Ut real estate market is approximately $208 sqft which is 5.8% below 2010's average.   Aaron PetersMLS Utah 03/23/2011

  This week in Park City, 21 properties have closed. Another 49 have come on the market and 36 have dropped their prices! In other news, the Park City Chamber estimates a total of 96,279 visitor nights this week, a 9.7% increase over last year. While New York City residents enjoy 70 degree weather, Park City revels in a superb snowpack and epic skiing. See our Real Estate update and visit our NEW website! 03/18/2011

Park City, UT real estate sales thus far for 2011 are mirroring what we saw in 2010. There is a slight increase in sales volume, but the sample size is too small to make many strong predictions as to what the year will bring. See http://parkcityutahhomes.blogspot.com/ for early 2011 data. 03/18/2011

If you are looking for a home in Park City, Utah, be sure to check out the All New Jeff Lorenzen Park City Real Estate Website. This is a complete redesign and overhaul of the entire site. It now features more timely information about life in Park City and buying and selling homes in the area. And the website features a greatly improved property search. You can quickly and thoroughly search the entire Park City MLS with ease. News The home page now includes a News section under the Featured Properties. This will include everything from new listings to restaurants to activities to do in the area. This content will be updated frequently, so check back often! Park City Property Search The site features many ways to search the Park City MLS — check out the Property Search link. Then you can... 03/11/2011

Yes, folks, Park City is all grown up. In addition to making National news for exciting film festivals, world class skiing and creating Winter Olympians, Park City is on the radar for foodies. Bill White, (Bill White Enterprises: Chimayo, Grappa, Wahso, Windy Ridge, Windy Ridge Bakery and Ghidottis) has been nominated for the James Beard Foundation's 2011 Restaurateur of the Year award. The award recognizes management skills in the restaurant field and Bill White Enterprises, with 600 employees, has certainly been striving to excel. The award winner will be announced May 9 in NYC and Park City will be watching.   03/02/2011

            Two years ago two leading Park City, Utah property management companies went out of business.  Their downfall led to many unpaid bills to local vendors, employees, local government entities, and owners of the properties that the companies managed.              The Summit County attorney recently determined that according to the laws of the state of Utah, the firms did nothing illegal in not paying home and condominium owners their share of rental revenues. The Summit County attorney was quoted as saying "It was bad business practices. Horrible decisions were made, but it was not fraud." The law in Utah and the contracts signed by owners allow for the co-mingling of funds and code leaves the oversight of nightly rental managers to local Park City authorities. Many other state... 02/27/2011