Park City Non-Profits Need Your Help Today!

Support Park City Non-Profits Today!

This is the big day, Park City fans!

Today, November 8th 2013 is the third annual “Live PC Give PC” fundraising bonanza that benefits almost 80 local Park City Utah area non-profit organizations. You can make a small or large donation to your favorite Park City non-profit organization, support multiple groups, or make a general donation that benefits all of them!


Here’s the link:









Thank you in advance to to all of our Park City Real estate followers who show their support today and help make our community the exceptional place that it is!

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Deer Valley Homes: What is the Best Buy in Upper Deer Valley?

Upper Deer Valley Homes For Sale Update

Homes in Upper Deer Valley in the lower price bands have gotten harder and harder to find as available inventory of homes for sale has been drastically reduced over the past 24 months.

Right now if you search the Park City MLS for  Upper Deer Valley homes (most of them with decent ski access), you’ll see 22 homes in the price range of $2M to $44m.

Deer Valley Home Hunters Rejoice!

We just found a “sleeper” that’s only priced at $1,295,000!


Aspen Hollow #8 – Deer Valley Home For Sale


Interestingly, we found it in the “condos” category of properties in the MLS because the Aspen Hollow Deer Valley neighborhood is platted as a condominium development.

In reality, it’s a detached, stand-alone Deer Valley home that shares no walls with neighboring units.  Best of all, you can walk right down your steps from your deck down onto the ski run.  The ski-out back to the “Last Chance” ski run is easy.

For more information about this property, please contact us a 1-800-485-0218 or you can find more details here:

8165 Royal St. E #8 Park City, UT

Summary of all Upper Deer Valley Homes for Sale

Posted by Erik Asarian | Currently No Comments »

Why Do Banks MakeThis Foreclosure Marketing Mistake???

Just Because You’re Paranoid Doesn’t Mean They’re Not Out To Get You…

Did you know there’s a disturbing new strategy that some asset management companies and/or REO listing brokerages have begun to employ?

It’s a conspiracy designed to shield you from the best deals left in our Park City Utah real estate marketplace!

We’ve noticed a disturbing trend of some bank-owned properties being absent from the Park City MLS listing feed, which means you can’t get instant access to all of the foreclosure inventory.

We’re up in arms about this strategy because it intentionally obstructs your path to Park City investing success.  Plus, it violates our team’s core belief that has driven our clients’ foreclosure acquisition successes, which is…

**Empower You with Free Access To Comprehensive Real Estate Information Over the Internet!**

So, if you are an active or potential investor looking for a great deal in Park City or Deer Valley, pay attention now!

This is How the Park City Foreclosure Cover-Up Starts…

When seller lists their property for sale with a brokerage in the State of Utah, they have the option to enable syndication of the property in a RETS or IDX feed of the property’s MLS data.  I know this industry jargon sounds like Greek, but hang in there…

In other words, the seller has the option to broadcast their property details  to hundreds or thousands of other websites across cyberspace, or not.  If they check the “no” syndication box on their listing agreement, their property becomes invisible to the majority of  prospective buyers & investors shopping online around the world.  So if you’re a seller, it seems like a no-brainer to check the “yes” box, right?

Why This Nasty Tactic Hurts Park City Real Estate Sellers: It Violates The Auction Principle

We make a point to have a serious conversation with our seller clients about this syndication issue.  They’re hiring us to help them maximize their sales proceeds, and in the pursuit of that goal, our job is to bring as many qualified buyers to the table as possible.

Have you ever attended an auction?  The best way to drive up the price of an asset is to have multiple buyers who are competing to acquire it, right?

So why would a real estate company not want their seller clients to have this same advantage?

Why This Nasty Tactic Hurts You…and Other Potential Park City Foreclosure Investors

It’s hard to believe in this instant-information age, but apparently there are still real estate companies who use tired old tactics like only showing their own company’s listings, desperately trying to represent both buyers and sellers in the same transaction to double their commissions, etc.  We’re as disgusted as you are with these tactics…

Little do these short-sighted real estate companies know that they’re operating on borrowed time.  Sooner or later, they’ll realize that you, the educated online real estate consumer, likely knows more about market conditions than they do!

In any case, we think that’s what’s happening is some of these REO brokers are omitting their bank-owned listings from the MLS feed.  They think that if they don’t syndicate the property details, buyers will have to come directly to them for the information. 

Don’t reward these people with your phone calls!

Here’s A Better Solution:

We track the Deer Valley & Park City foreclosure inventory daily, whether the properties appear in the MLS feed or not.  We can still send you all the information you need to make an informed decision about these un-syndicated foreclosures.

Best part is, we work exclusively for you.  Frankly, we much prefer to represent only one party in a transaction, to ensure that our fiduciary responsibilities are not at all limited working on your behalf.

We’ll help you navigate through the inevitable multiple offer situations, complicated and lengthy bank required addenda, and we’ll help you spot other potential landmines (unpaid HOA dues & assessments, liens and cluds on title, etc) along the path towards your acquisition of a below-market value distress sale in Park City or Deer Valley.

Don’t Miss This Next Step…

Simply lurking out there and waiting for our Park City foreclosure updates isn’t enough to know about ALL Park City & Deer Valley foreclosures & Distress Sales.  If you’re really serious about finding one of these hidden gems that doesn’t make the feed, please call us (Tel. 1-800-485-0218) and share your specific requirements with us.  It might sound old-fashioned, but it will insure you’ll be at the top of our list of calls to make when the best distress sale opportunities come along.

Happy Foreclosure Hunting!


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Park City Real Estate Statistics – 2012 Trends

Park City Real Estate Market Stats

We thought it might help those of you who have been tracking the Park City real estate market to see a quick summary of the year-end market wide sales stats.

All real estate markets are highly localized, so it may not be safe to assume that what’s happening in your back-yard is the same as what’s happening in Deer Valley & Park City, Utah.

Here are the key takaways from the year-end 2011 Park City real estate market…

  • The number of units sold is up for the second straight year
  • Total sales volume increased for the second straight year
  • Median price of sold units decreased for the fourth straight year
  • Average sales prices decreased for the fourth straight year

Different areas of town are tracking different trends, so it may help you to break it down further and look at your specific areas of interest.  The markets for Park City homes, condos, and land are all different.

Here is a link to the complete 12 page summary of the Park City real estate market trends.

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Park City Real Estate Market Gaining Strength…

Lunch with Dr. Lawrence Yun in Park City, Utah

We joined Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS® for lunch last week.  Dr. Yun was enthusiastic for the continued recovery of resort real estate market conditions in the Park City & Deer Valley Resort areas.


Dr. Lawrence Yun-NAR Chief Economist & Erik Asarian-Branch Broker Keller Williams

Here is the rest of the story about Dr. Yun’s Park City & Deer Valley real estate market forecast

Posted by Erik Asarian | Currently No Comments »

HGTV Dream Home in Midway Utah

People are always asking us to let them know when we run across a deal that’s too good to be true…

Never have we seen a deal this good–not at auctions, trustee’s sales, tax sales, foreclosures, divorce sales, or any other highly motivated seller. How’s this for a good deal–a $2 million home–ABSOLUTELY FREE!

HGTV Park City Utah Dream Home

You’ve likely seen the massive promotional campaign launched by Home & Garden Television featuring their “Dream Home” giveway.


Each year, HGTV builds a luxury home someplace beautiful, and they give it away to one lucky family.  This year the HGTV Dream Home is in Midway, Utah just 15 minutes outside of Park City.

The home is located in a spectacular setting, walking distance from the Blue Ribbon Middle Provo River, and under the shadows of Mount Timpanogos–the tallest peak in the Wasatch Mountain Range.

You can register to with the HGTV Dream Home here…

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Park City Real Estate 2011 Year End Statistics

Park City Real Estate Market Statistics

We just finished crunching the numbers from 2011, and here are the key takeaways.   The number of units (homes, condos, land) sold increased for the third consecutive year…


Park City MLS Statistics 2011 Number of Closed Units

Total sales volume exceeded $1 billion for only the seventh year in the history of Park City and Deer Valley real estate.


Park City MLS Total Dollar Volume Sold

Median single family home prices increased for the second straight year.  The median home price on the Park City MLS is now $523,500.


Park City Utah Median Home Prices

Short sales and foreclosures accounted for 8% of the active listings on the Park City MLS in the 4th quarter of 2011, but they represented 25.6% of the closed transactions.


Park City Bank Owned Sales 4th Quarter 2011

Looking at the pipeline of properties that could become next quarter’s foreclosures, the number of property owners 90+ days delinquent on their loans increased slightly Q3, but the quarterly number of Notices of Default is still much, much lower than we saw in 2009…


Park City Pre-Foreclosures & Notices of Default

The number of properties listed for sale across the Park City MLS dropped again this quarter.  It’s now  very clear that the market has bottomed and started to recover–there is only a little over one year of supply based on the 2011 absorption rate.  This is down from nearly 40 months of available supply at the market lows.


Park City Real Estate 2011 Sales Absorption Rate

Properties are now twice as likely to sell as they were in 2009.  At the market lows, there was only a 20% probability that your home would sell.  Now that metric has increased to a 40% chance on average.  But if you own Park City or Deer Valley real estate and you’re considering selling, don’t despair…

Your chances of selling can be dramatically greater than this.  Our team actually sold 71% of the properties that we listed last year–nearly twice the average.


Park City Real Estate Listings: Percentage  That Sold in Q4 2011

Most of these graphs are backwards-looking, so what data can we look at to help us estimate where prices are heading in the near future?

Park City Real Estate Prices rise when inventory levels shrink

Based on the available inventory rapidly shrinking in many, if not most, Deer Valley and Park City neighborhoods it won’t be long until median and average prices  begin to move upward with more velocity.

You can download a pdf of our complete folio of 4th Quarter 2011 Park City Real Estate Market stats and graphs here.

Posted by Erik Asarian | Currently No Comments »

St. Regis Deer Valley Condos & Residences Update

This update should please Deer Valley bargain-hunters!

Remember back when St. Regis Deer Valley was pre-selling condos back in 2005-2008 while the resort was under construction?

No surprise–given the volatile economy–some of the prospective purchasers who had St. Regis condos and residences under contract were not able to secure financing, and they did not complete their purchases.

Here’s why their misfortune spells opportunity for you!

Some of these buyers forfeited their earnest money deposits–to the tune of hundreds of thousands of dollars per unit.

Since the developer retained (and rightly so…) deposits from some of the failed sales, these units might be good targets for acquisition at great prices!

Timing is Critical to Getting the Best Deals in Deer Valley

We have no authority to represent how the developer might respond to any aggressive purchase offers…but we strongly believe that this could be your best chance ever to acquire a St. Regis Deer Valley condo at the lowest possible price.

Please email us for more info and let’s discuss the possibilities.

PS:  If you’re curious about retail prices of St. Regis Deer Valley Condos and Residences on the Park City MLS go here:

St. Regis Deer Valley Condos & Residences for sale

PPS:  Our buyer clients don’t pay retail prices when they invest in Deer Valley right now 🙂   Email us for additional info…


Let’s be really clear…  Park City Real Estate Guide® does not represent the developer or operator of the St. Regis Resort & Residences, Deer Crest, nor is Keller Williams Park City Real Estate the listing brokerage for the project.   We are in no way affiliated with or authorized to speak on behalf of the owner, developer, or operator of the resort.

We are simply expressing our opinions about trends and opportunities we see in the Deer Valley and Park City real estate marketplace.

Posted by Erik Asarian | Currently 6 Comments »

Deer Valley Condo Fire Sale

Breaking news….We have touted the opportunities in the Red Stag Lodge before, if you are unaware of this luxury condo building you can read our earlier posts, but the most important factor is its location.

In short, these luxury condos are walking distance to the slopes at Deer Valley resort as well as the St. Regis and on the free bus line just a couple minutes from Park City’s Main Street.

We have helped a couple buyers secure fantastic deals there in the past few months and now there is some extreme motivation on the part of the bank that owns two units there. Seems the bank has bumped up against its debt limit and they are now being forced to fire sale their remaining units in Red Stag. There will be a 20% price reduction on these two units in the next couple days.

These are two bedroom, three full bath beautifully appointed condos with private hot tubs and full kitchens.

These condos sold three years ago for well over a million dollars and they will now be dropped to just $499,000! Similar sized units next door in Powder Run are on the market for twice as much! There are two of these units available and when the price change hits the MLS there will be immediate interest as this is an extreme value for its location.  Click here for details and photos Red Stag Deer Valley Best Buys

One more great Deer Valley buy is higher on the mountain in the Ridgepoint complex.

These upper Deer Valley condos offer ski in and out access to the complex, great views, as well as tennis courts and a pool.

This particular unit is priced $250,000 less than another similar unit and is the lowest priced upper Deer Valley condo available. This is also an extreme value and will go quickly.  Ridgepoint Best Buy

If you have been waiting for the right time to get a great deal in Deer Valley, your time has come!

Contact one of our team to take advantage of these incredible opportunities…

Posted by Greg Harrigan | Currently No Comments »

Luxury Ski Homes: The Colony at White Pine Canyon

Available Home Inventory in The Colony Reduced by 42.1% in Last 120 days!

homes for sale in the colony at white pine canyonWarning:  Don’t assume  the “MORE BAD NEWS…”  you see in the national media holds true in all micro-markets.

We just finished crunching the numbers for some of Park City, Utah’s hottest luxury neighborhoods, and the reduction in available luxury ski homes is staggering. Yes–you heard that correctly.

There’s now a real scarcity of well-priced properties in the luxury market between $3-6 million.

Take The Colony at White Pine Canyon, for instance.  At the beginning of the 2010/11 ski season in November 2010, there were 19 homes on the market.  Fast forward a mere 120 days, and 8 pending/closed sales later, there are only 11 homes left.    Don’t take our word for it…see for yourself:

Colony Homes sold winter 2010-11 Market Snapshot

Winter 2010-11 Colony Home Sales

Hollywood Heavy-Hitter Buys Colony Home in Private Sale

We hope you paid attention to the math and noticed there was a missing sale…there was an additional closed sale of an unlisted property to an Hollywood A-List Couple.

We won’t blow their cover here on the blog, but if you come to Park City we’ll clue you in…

What’s currently available for sale in The Colony at White Pine Canyon?

colony homes for sale park city utah

As you’ll see above, there are only a couple of options left under $5 million.  One is debt-free and motivated to sell.  The other is still living in fantasy-land regarding the value of their property in today’s marketplace.  It is over-encumbered, and could be headed towards a Trustee’s foreclosure sale.

Hint: call us immediately if you’re looking for a home in The Colony and we’ll catch you up to speed on this developing opportunity…

Click here to search for all Colony Homes For Sale in Park City Utah

Related Articles:
Promontory Real Estate Update: Best Deals Going…going…almost gone!

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