Housing prices could jump 9.7% in 2013

According to JP Morgan, housing prices could jump up to 9.7% in 2013. That would be the highest increase since the boom in 2006.  Here is the message: BUY NOW BEFORE PRICES GO UP!
Click the link below to see the whole article:

http://blogs.wsj.com/economics/2012/12/14/home-prices-could-jump-9-7-in-2013-j-p-morgan-says/?goback=.gde_662007_member_198719613

Call me for any Park City Utah housing needs
Heather Feldman
435-731-0803

SEARCH THE PARK CITY MLS

The Best Place to live in Park City Utah, Part 3, Old Town

Old Town is the perfect place to live for many residents. They like the bustling energy, the closeness to all things Park City. Read on to see if Old Town sounds right for you:

Click here to see information about this Old Town Home

Park City’s Old Town has a colorful history and is full of character. Old Town reflects the rich mining history of Park City, which was incorporated as a city in 1884, eighteen years after silver was discovered in its mountains. Many of the original commercial and residential buildings still remain, reflecting the Victorian architecture of that era. Main Street in Old Town is known for its great shops, world class restaurants, art galleries and unique character.

You will see multi-million dollar mansions next to small miner’s cottages, homes that are maintained beautifully next to rental properties in need of some love. That’s the beauty of Park City’s Old Town. It’s not cookie cutter subdivision bland. The beauty is in the diversity, the diversity of homes and of residents. Approximately 50% of the homeowners are full-time, the other 50% are either second home owners or investment/rental properties.

Click here for more information about this Old Town home

From Old Town you can walk to Historic Main Street for dining or shopping. The City has installed stairs at intervals to get you up to Lowell and down to Park Ave. You are in the middle of all the action. Many of the Old Town homes are within walking distance to Park City Mountain Resort for skiing or hiking and biking in the summer.

Prices range from the $200’s for a condo up to $8 Million dollars for a large home on a large lot. The average home right now is 3-4 bedrooms, 1 car garage, 2000 sq ft and runs between $799,000 and about $900,000.

Click below to see some Old Town properties available for purchase.

Search Park City's Old Town Homes

 

To see any Park City Real estate, contact me at heather@parkcityhousehunters.com
SEARCH THE PARK CITY MLS 

Park City condo under $100,000!

Did you ever think it was possible? This featured property is small but stunning. The owners have done such a great job with the space and have made it gorgeous to boot!

You are looking at the brand new sleeper sofa with seating cubes that convert into ottomans or eating trays. Notice the beautiful colors on the walls along with the coordinated wall coverings and artwork. They have really made this a Zen-like retreat.

This condo is only a studio, but boasts beautiful wood floors, a flat screen Tv, convertible eating/working table and tons of smart storage.

Take a look out your window to see
Park City Mountain and check out how much snow
they have!

This fabulous condo is in Prospector Square which is a 10acre development with 9 condo buildings, a pool, convention center and Theatre. Prospector Square is an official Sundance Film Festival venue too!
Offered at $87,500.  Buy it for yourself or buy it for an investment. Great rental numbers at Prospector.

Call me today for a private showing!
Heather Feldman 435-731-0803

Is your Realtor doing a good job with your listing?

Touchy subject, I know.

How do you know if your Realtor is doing a good job with your property?

If it sells have they done a good job? If it doesn't sell are they doing a poor job?

Here are some guidelines to follow when evaluating whether your agent is worth holding on to, or when choosing an agent:


1. Do they answer their phone and email? Not just when you call, but for potential buyers and other agents. I cannot tell you how many times I call on a property to show it or ask questions for a potential buyer and never get any communication back. Test your agent. Have your friends and associates call just to see what happens. If your agent is not calling/emailing back within a reasonable time frame, this is a red flag. Many times buyers and agents will move on to the next property and not even bother to show it.



2. Is your property listed in the appropriate MLS? How unfortunate for the seller that wants to help out a friend with their real estate career and lists their property in the wrong area. In Park City, we have our own MLS that covers the Wasatch back - Park City, Midway, Heber ,Oakley and surrounding areas. Many times a home will be listed with a Salt Lake agent who is not a member of our MLS, so when the agents that work and sell up here pull properties to show, that one won't show up, and most likely won’t be shown.



3. Is your property being marketed in the most effective way for your area? Each area has a proven method for marketing that works. Some areas it is the newspaper, other areas it is a local magazine or radio program. For many resort areas the internet is the most effective tool available. Find out not just the circulation of the marketing tool, but the results of the marketing tool. When looking for a buyer in a resort market like Park City, they aren't usually reading our local paper or listening to KPCW, our local radio station. They begin their search on the internet, they ask their friends for a referral to a local Realtor. Then they start their search.



4. Has your agent helped you prepare your home for sale? Prior to listing, your agent should conduct a walkthrough with you and help with suggestions for decluttering, staging and a list of items to fix. Your agent should tell you how important these things are in the sales process. If a home appears dirty or unkempt, buyers will subconsciously look for deferred maintenance and wonder how the seller could possibly keep up with maintenance when they can’t even keep up with the daily clutter. I offer my sellers a no charge 1 hour consultation with a home staging expert to really give them the edge on the competition.



5. Pricing. Even if you and your agent do everything possible to stage and prepare your home for showing, price will determine whether you get activity and offers. In today’s market price is everything. Every agent should know the maximum activity will come in the first few weeks of listing the property. Having said that, is your agent sharing the feedback with you? Are you acting on it?





6. The key to helping the seller make the right choices is feedback. Feedback comes in two forms - agent feedback from showings, and market feedback in terms of how the homes with which you are competing are responding. Are other similar properties selling and yours is not? Examine why - most of the time it will come down to price.

We know that the majority of the time the buyer that purchases your home will be represented by a Realtor other than the listing agent. So if there are no showings by agents, then they are not all on vacation. They are showing other homes that their buyers think offer the most value. Overpriced properties will only be shown to demonstrate to buyers why another home is a good deal, and they will sit unsold.



So ask your Realtor for a market update. Use this information wisely. Your agent can send you a detailed report where you can look at each and every property that has sold. Were they really better than yours or just marketed better and priced right?



For all of your Park City, Utah Real Estate needs call me today.

Heather Feldman

435-731-0803

Park City/Solutude Tramway audio update from KPCW

Just a quick update audio clip from KPCW, our local radio station.
Tramway interview with Bill Malone

Rental demand on the rise

I love being right!
I have been preaching this for years. I  watched it happen in the last down cycle and here it comes again. In light of the recent recession and unprecedented number of foreclosures, rentals are in high demand. I think we all know what happens to prices once something is in demand...prices rise. It only makes sense...people have to live somewhere. If they can't buy, they rent.

Here in Park City, rentals are tough to find and not cheap. Especially if you are looking mid-ski season. Good Luck!
Check out this article from Inman News about just that - rental demand on the rise.

Inman News Rentals on the Rise

Are you ready to be a landord in Park City? Make some money on your investment and wait for the equity? Contact me at 435-731-0803 or heather@parkcityhousehunters.com

Octoberfest and beautiful fall color at Snowbird

Today was a fall color capturing day and some great fun at Snowbird's Octoberfest. Great fun - We toured the market place, ate some great bratwurst and enjoyed the gorgeous fall color.
See the short video below for the Alpenhorn concert at the top of the Tram. Very cool.

Octoberfest was busy today! The picture below was taken from the Chicadee lift.

Pic looking toward the Salt Lake valley from top of Snowbird.

The most exciting part of the day was not caught on film...when I went head over bull on the mechanical bull ride! I have heard a rumor that there is a video out there somewhere...

Beautiful valley on the way to Midway via Brighton.



Stock Market Alternatives for your IRA's and 401K's

Stock Market give you a beating in the last few days or over the last few years? There is an alternative for your IRA or 401k money. Buy some income producing property and take control of your future!

By moving your IRA or 401k money to a self-directed IRA, you can hold real estate, tax deeds and many other items. I am only concerned with holding of Real Estate. There are many guidelines to go along with the many benefits.

Here is how it works;
First you choose a self directed IRA administrator like Mountain West IRA to move your money to. No penalties  - you are not withdrawing, just rolling over. Next, you identify an income producing or investment property to purchase here in Park City, with me as your Buyer's agent. Vacant land can also be held by a self-directed IRA with the intent that this property will increase in value and someday make you some money. This property can be purchased in full by your self-directed IRA, or there are loans available for certain properties. The loans are non-recourse and are loaned to your IRA based on the income producing history of the property, not your personal credit or income.

Now, you can't buy that ski home for your personal use, the IRS does not allow that type of usage. However, you can buy that ski home or condo for your future financial security. In theory, this income producing property will hold its own and cover most expenses, and hopefully gain in equity as our market recovers. Of course, there is risk involved. If you had your IRA in the stock market and it falters, you are affected. If you have your IRA money in Real Estate and the market falters, you are affected. In both scenarios you are only affected if you need to sell while the market is experiencing a downturn.

There are so many scenarios to explore along with the rules and guidelines, I recommend calling a professional. This is a very simplified summary.

Are you in Park City on August 11th? John Galane of Mountain West IRA will be giving an 8 hour in-depth class about how to hold real estate in a self-directed IRA. See flyer below. I have represented a buyer using Mountain West IRA as their administrator of their sself-directed IRA, and the process was easy. Quite painless. I am happy to answer questions about how that transaction went and how we could find a property for you. Call me at 435-731-0803