- Park City market has been stable, with moderate valuation increases for over 5 years.
- There has been an increase in the premium paid for new homes. They now sell for about 35% more per sf than existing inventory.
- Inventory is relatively unchanged year-over-year. Prices continue to rise in lower valuations, less in higher-end properties.
- As ever, the Park City market is complex and fragmented. Careful analysis is required to evaluate opportunities in discrete niches.
- Click here to go to my Park City Real Estate Statistics page
|Snow Park Condo - Views, SkiingPinnacle 78|
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|Upper Deer Valley Luxury CondoStage #48|
MLS 12004627 More Info
|Super-Close Ski In/Out Park City MountainSnowflower 101|
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|Park Meadows - Warm, Cozy, Charm3097 American Saddler Dr|
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Buyer and Seller Tips
Choose your Real Estate Agent Thoughtfully
Referrals / Familiarization
The best place to start is by asking friends for referrals.
If you're new to Park City / Deer Valley, do an informal driving tour. If the same name pops up on lots of signs in areas which appeal to you, you've probably found someone who specializes in that particular area.
Review Real Estate Advertising
What you want to evaluate are agent characteristics of importance to you, such as proven leadership and success, mix of properties promoted, expertise, clearly apparent experience and commitment to the profession.
Congeniality / Language Skills
In any transaction, your agent will be representing you, and presenting your offers to other parties. Is the agent likely to be easy to work with for others? – Yes, it does make a difference in the outcome! Is the agent likely to be a good communicator of your intentions and negotiating points? Is the agent realistic and candid? – You can waste a lot of time on transactions in which there are unrealistic expectations or valuations.
- You control four items: (a) Marketing ( we collaborate on our plan); (b) Condition (How to avoid unpleasant surprises: get a home inspection and repair important problems ahead of time); (c) Price (I will work on this with you, but it’s your decision how to price your property); (d) Access ( I recommend electronic keyboxes. The easier your property is to show, the more it will be shown.)
- Q/A : What's the best way to handle a low-ball offer? / Don't feel insulted. Treat it as an honest difference of opinion.
- Q/A : What's the best way to handle showings? / Be sure to leave the premises looking (and smelling) clean and fresh. If at all possible, take your pets with you.
- Q/A : My home inspection report lists a huge number of problems. / Recognize that the buyer is also feeling stress about this. In some situations, the impact of the inspection report essentially leads to a second sales negotiation.
- Work openly and candidly with your agent. Concealed or disguised emotions and feelings impede progress and effectiveness as you inspect properties, and are even more crucial when you go into transaction negotiations.
- If it isn’t working, say so! An experienced, genuinely professional Realtor can adapt, and is a good listener. And if it still doesn’t get better, the discomfort is likely to be mutual between you and your agent. You both may want to end the relationship if it isn’t going well.
- Understand “agency.” In the past, it was always the case that the agent was an agent of the seller. There is now a very complex but crucial legal form you will need to execute with your agent, which sets forth in great detail the agency relationship between you and your “buyer’s” agent. This legal and working understanding is essentiall to your transaction: it clarifies and enables your Realtor to work effectively on your behalf.
PARK CITY REAL ESTATE MARKET => Questions & Answers
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