CLICK HERE TO SEE MORE INFORMATION ABOUT THIS HOME
HEATHER FELDMAN
EQUITY REAL ESTATE LUXURY GROUP
HEATHER FELDMAN, EQUITY REAL ESTATE LUXURY GROUP PARK CITY 435-731-0803
Saturday, May 26, 2012
Promontory Ranch Club Open House today!
Come by and see this beautiful Promontory home. Open house today from 11-5
CLICK HERE TO SEE MORE INFORMATION ABOUT THIS HOME
CONTACT ME FOR DIRECTIONS 435-731-0803
HEATHER FELDMAN
EQUITY REAL ESTATE LUXURY GROUP
CLICK HERE TO SEE MORE INFORMATION ABOUT THIS HOME
HEATHER FELDMAN
EQUITY REAL ESTATE LUXURY GROUP
Saturday, May 19, 2012
Experiencing Mortgage Loan Hell?
Mortgage Loan Hell. Means something different to each person you ask.
Renters respond with ignorant bliss and an innocent questioning look on their faces. Borrowers trying to obtain a loan show a face of rage and frustration. Those caught up in the hell of bank mistakes and mismanagement show a face hardly recognizable as human.
What is it going to take for the Mortgage loan industry to get it together?
Case in point - Borrower X, excellent credit history and scores, plenty of income, sounds like it should be a slam dunk, right? Give this borrower a loan! Not so fast. This borrower has some complications that underwriters can't seem to grasp. This borrower was divorced in the last year, and as divorces go property and assets were split. In this case, the couple owned two successful businesses, each party receiving one of the two businesses in the divorce.
As we start the loan process prior to offering on a property, the loan officer gathers all of the required and customary papers to document this borrowers information. It is sent off to underwriting, approval should take 10 days or so. The first bank decides there is no history of this borrower running the business - the same one the borrower has owned and run for the last 5 years!!!
The underwriters then begin to ask for a litany of additional documentation - they want 12 months of payment evidence on a vehicle only owned for 10 months - really?!? and can't understand why 12 months isn't available. Then unreasonable paperwork shuffling :After 2 months of document gathering, with each updated bank statement or piece of documentation requested they have a list of 5 more requests to verify the same thing they already verified 2 weeks ago, but since it has taken them 2 months they need updated information and have to re verify all of the updated information. It is beyond ridiculous. This has now taken more than 2 months and they continue gathering information. Again, all from a borrower making plenty of documented income and great credit.
The underwriters seem to have a difficult time deciphering complicated tax returns and income scenarios.
It's almost like they are fast food kids and
retail workers given a crash course in
paper pushing with no concept of anything
more than a weekly paycheck and a W2 scenario, and are terrified to make a decision.
The frustration is doubled as the Utah Housing Corp has started advertising programs for down payment assisted loans available. Loans for people that have not been able to save a down payment and only a 620 credit score is required. Seriously? And this qualified, well funded borrower is being put through 2 months of HELL to get a loan?
How about borrowers that are self employed and take full advantage of all legal tax write offs? Loans are calculated on the net income, so the choice for the self employed borrower is to not take legal, allowed write offs for at least 2 years, paying a sizable tax increase to show more net income, or simply buy only what they can mostly pay cash for. Case in point - borrower Z, husband and wife are self employed, have mid 700 credit scores, good income and want to refinance the loan they took out 5 years ago down to a current lower rate. They owe $400k, their home is worth $1M. No can do. Even though they have made every payment on time and have great credit history, no lender will touch them because their net income shown is not sufficient for their current loan. Yet, there are loans out there for people that have no down payment.
I suppose it could be worse. Click on the link I found below from The Fiscal Times about loan hell stories from those caught up in the mistakes and mismanagement of existing loans.
Article from The Fiscal times with Loan Hell examples
UPDATE -
THE BUYER REFERENCED IN THE FIRST PART OF THIS POST GOT THEIR LOAN AND CLOSED ON THEIR HOME. TOO BAD IT HAD TO BE SUCH A DIFFICULT PROCESS FOR THEM!
Saturday, April 28, 2012
Park City Utah median sales price up
Park City, Utah –The highlight for the first quarter of 2012, as reported by the Park City Board of REALTORS®, is that the median sales price for vacant land and condos, in all areas, has gone up. The median sold price for condos went from $335,000 in the first quarter of 2011 to $401,628 for quarter one in 2012.
This is great news for any Park City homeowner.
A year ago, we continued to see downward pressure on prices which seems to have flattened. “Prices throughout our market seem to have stabilized, and in certain segments prices have started to increase. We saw this trend start in 2011 with single family homes, and we are now seeing it in condo and vacant land sales,” says Mark Seltenrich, statistician for the Park City Board of REALTORS®. He adds, “In certain parts of the market, and in certain areas, some pent up demand is being demonstrated and even among buyers there is little talk of prices continuing to fall.”
Click here to read the entire article
For information on any Park City, Utah home, condo or investment property, contact me at
heather@parkcityhousehunters.com
This is great news for any Park City homeowner.
A year ago, we continued to see downward pressure on prices which seems to have flattened. “Prices throughout our market seem to have stabilized, and in certain segments prices have started to increase. We saw this trend start in 2011 with single family homes, and we are now seeing it in condo and vacant land sales,” says Mark Seltenrich, statistician for the Park City Board of REALTORS®. He adds, “In certain parts of the market, and in certain areas, some pent up demand is being demonstrated and even among buyers there is little talk of prices continuing to fall.”
Click here to read the entire article
For information on any Park City, Utah home, condo or investment property, contact me at
heather@parkcityhousehunters.com
Tuesday, April 17, 2012
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:
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.
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.
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.
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.
To see any Park City Real estate, contact me at heather@parkcityhousehunters.com
SEARCH THE PARK CITY MLS
SEARCH THE PARK CITY MLS
Thursday, April 12, 2012
The Best place to live in Park City, Utah Part 2, TRAILSIDE PARK
Trailside Park
Trailside Park is one of my favorite areas – I live there! I chose this area because of the proximity to everything . Trailside Elementary is within walking distance of most Trailside homes along with a fantastic park that includes 2 soccer fields, 2 play jungle gyms, 2 tennis courts, sand volleyball, a bike pump track and a skate park! Whew! That’s a lot of fun right here!
Trailside is mostly primary residents and the homes range from the $300’s to well above $2 Million. It is super popular with families because of all the recreation and fun listed above. No kids, or older kids? The Park City free bus runs right through the center of Trailside, so easy to send your teens off to the slopes on the bus.
Park City Mountain is about 8-10 minutes from Trailside, Canyons about 6 minutes and Deer Valley about 10 minutes. Park City’s historic Main Street is only 10 minutes away as well. It's considered a little bit "out of town" compared to Old Town living, but works well for most locals. Salt Lake City is about 25 minutes from Trailside and both the I-80 fwy and the SR-40 are withing minutes making this a great commuter neighborhood. Doctors that need to be able to be down in SLC within 30 minutes when on call live in Trailside.
Redstone center is about 5 minutes away and you will find grocery shopping, movie theatres, stores like Bed Bath and Beyond, TJMaxx, WorldMarket and many others. My dentist is in that center too!
So, let’s talk about the name…Trailside Park. There are tons of trails connecting through Trailside for biking , hiking or jogging. The trails connect with Round Valley, Mountain Ranch Trails, Glenwild Trails and Silver Creek Trails. Plenty of exercise and recreation for everyone.
TRAILSIDE HOMES AVAILABLE
For more information about living in Trailside, contact me at heather@parkcityhousehunters.com , or call me at 435-731-0803
Heather Feldman
Equity Real Estate Luxury Group Park City Utah
Trailside Park is one of my favorite areas – I live there! I chose this area because of the proximity to everything . Trailside Elementary is within walking distance of most Trailside homes along with a fantastic park that includes 2 soccer fields, 2 play jungle gyms, 2 tennis courts, sand volleyball, a bike pump track and a skate park! Whew! That’s a lot of fun right here!
Trailside is mostly primary residents and the homes range from the $300’s to well above $2 Million. It is super popular with families because of all the recreation and fun listed above. No kids, or older kids? The Park City free bus runs right through the center of Trailside, so easy to send your teens off to the slopes on the bus.
Park City Mountain is about 8-10 minutes from Trailside, Canyons about 6 minutes and Deer Valley about 10 minutes. Park City’s historic Main Street is only 10 minutes away as well. It's considered a little bit "out of town" compared to Old Town living, but works well for most locals. Salt Lake City is about 25 minutes from Trailside and both the I-80 fwy and the SR-40 are withing minutes making this a great commuter neighborhood. Doctors that need to be able to be down in SLC within 30 minutes when on call live in Trailside.
Redstone center is about 5 minutes away and you will find grocery shopping, movie theatres, stores like Bed Bath and Beyond, TJMaxx, WorldMarket and many others. My dentist is in that center too!
So, let’s talk about the name…Trailside Park. There are tons of trails connecting through Trailside for biking , hiking or jogging. The trails connect with Round Valley, Mountain Ranch Trails, Glenwild Trails and Silver Creek Trails. Plenty of exercise and recreation for everyone.
TRAILSIDE HOMES AVAILABLE
For more information about living in Trailside, contact me at heather@parkcityhousehunters.com , or call me at 435-731-0803
Heather Feldman
Equity Real Estate Luxury Group Park City Utah
Friday, March 30, 2012
The Best place to live in Park City, Utah Part 1, JEREMY RANCH
I promised Park City neighborhood overviews, so here we go!
Let's start with Jeremy Ranch.
Jeremy Ranch is a community clustered around The Jeremy Ranch Golf and Country Club. Easy access to the I-80 and Salt Lake City makes Jeremy Ranch ideal for families with a commute to down to the Valley.
Jeremy Ranch is home to mostly full time residents. There are moderately priced homes on the lower part of the mountain along with townhomes and condos starting in the $200's. Larger, estate-sized homes in The Back Nine, Moose Hollow and The Trails subdivisions towards the top of the mountain, priced up to well over $1 million. Many homes have dramatic views of The Jeremy Ranch golf course and all three ski resorts.
Hiking and biking trails surround this community. Shopping is close by with Fresh Market and restaurants at the Jeremy Ranch exit off the I-80.
There is a mixture of homes styles in Jeremy Ranch. While some communities feature the rustic home style only, Jeremy Ranch has a nice combination of rustic along with a more city style of home featuring less wood and some brighter lighter feels with a little more of the Salt Lake influence.
Jeremy Ranch has an excellent Elementary School, and Golf club. Check out the links below for more information.
The down side of Jeremy Ranch is the I-80 noise from some parts of the area and the drastic diversity of price. Some buyers have a hard time to wrap their heads around spending just under $1 million for a home in a neighborhood where you can find a single family home for about $400,000.
Some feel Jeremy Ranch is too removed from town to really feel like they are in Park City. It is about 6 miles from Main Street - not really far. Super easy to Salt Lake City - about 20 minutes to Sugarhouse. Some have called Jeremy Ranch a bedroom community of Salt Lake City.
For more information about Jeremy Ranch or to view properties in Jeremy Ranch, call me at 435-731-0803 or search for properties on the SEARCH THE MLS link on this site.
JEREMY RANCH HOMES AVAILABLE
Jeremy Ranch Elementary
Jeremy Ranch Golf
SEARCH THE PARK CITY MLS
Let's start with Jeremy Ranch.
Jeremy Ranch is a community clustered around The Jeremy Ranch Golf and Country Club. Easy access to the I-80 and Salt Lake City makes Jeremy Ranch ideal for families with a commute to down to the Valley.
Jeremy Ranch is home to mostly full time residents. There are moderately priced homes on the lower part of the mountain along with townhomes and condos starting in the $200's. Larger, estate-sized homes in The Back Nine, Moose Hollow and The Trails subdivisions towards the top of the mountain, priced up to well over $1 million. Many homes have dramatic views of The Jeremy Ranch golf course and all three ski resorts.
Hiking and biking trails surround this community. Shopping is close by with Fresh Market and restaurants at the Jeremy Ranch exit off the I-80.
There is a mixture of homes styles in Jeremy Ranch. While some communities feature the rustic home style only, Jeremy Ranch has a nice combination of rustic along with a more city style of home featuring less wood and some brighter lighter feels with a little more of the Salt Lake influence.
Jeremy Ranch has an excellent Elementary School, and Golf club. Check out the links below for more information.
The down side of Jeremy Ranch is the I-80 noise from some parts of the area and the drastic diversity of price. Some buyers have a hard time to wrap their heads around spending just under $1 million for a home in a neighborhood where you can find a single family home for about $400,000.
Some feel Jeremy Ranch is too removed from town to really feel like they are in Park City. It is about 6 miles from Main Street - not really far. Super easy to Salt Lake City - about 20 minutes to Sugarhouse. Some have called Jeremy Ranch a bedroom community of Salt Lake City.
For more information about Jeremy Ranch or to view properties in Jeremy Ranch, call me at 435-731-0803 or search for properties on the SEARCH THE MLS link on this site.
JEREMY RANCH HOMES AVAILABLE
Jeremy Ranch Elementary
Jeremy Ranch Golf
SEARCH THE PARK CITY MLS
Wednesday, March 28, 2012
The Best Place to live in Park City Utah
Visitors come to Park City, fall in love and want to start a great life here. Just like I and many others did!
The tough part is how to choose which area is best for you and your family.
What should you do? Drive around? Ask some locals? Sure, both of those are great starting points, but really your Park City Realtor should be a main source for information.
If your Realtor is good, they make it their business to know the ins and outs, the plusses and minuses of each area. Jeremy Ranch is not the same as Silver Springs or Prospector etc. I don't just look at comps and stats, in most cases we have friends in each area, I have worked with the HOA's, I may even live in the area you are interested in.
My job is to figure out what is important to you. How important is it to have easy access to the I-80 fwy? What do you and your family like to do in your free time? Are your kids young enough to play at a park, and if so, how close do you want to be to it? Do you want to walk to shops and restaurants? Do you like a neighborhood feel or solitude? View or mountain feel?
I don't sit you down with a questionairre, although that might be a good option! We sit down and talk, we spend time together to really figure out what works for you. The area that is best for one buyer may not work at all for another - even if the answers are the same.
In the next few blogs I will go over some of the local neighborhoods and why they may work for you.
For all Real Estate in Park City, call me at 435-731-0803
Heather Feldman
SEARCH THE PARK CITY MLS
The tough part is how to choose which area is best for you and your family.
What should you do? Drive around? Ask some locals? Sure, both of those are great starting points, but really your Park City Realtor should be a main source for information.
If your Realtor is good, they make it their business to know the ins and outs, the plusses and minuses of each area. Jeremy Ranch is not the same as Silver Springs or Prospector etc. I don't just look at comps and stats, in most cases we have friends in each area, I have worked with the HOA's, I may even live in the area you are interested in.
My job is to figure out what is important to you. How important is it to have easy access to the I-80 fwy? What do you and your family like to do in your free time? Are your kids young enough to play at a park, and if so, how close do you want to be to it? Do you want to walk to shops and restaurants? Do you like a neighborhood feel or solitude? View or mountain feel?
I don't sit you down with a questionairre, although that might be a good option! We sit down and talk, we spend time together to really figure out what works for you. The area that is best for one buyer may not work at all for another - even if the answers are the same.
In the next few blogs I will go over some of the local neighborhoods and why they may work for you.
For all Real Estate in Park City, call me at 435-731-0803
Heather Feldman
SEARCH THE PARK CITY MLS
Tuesday, March 20, 2012
Canyons Spring Gruv is here!
Looking for something kooky to do this weekend while skiing in Park City? Head on over to Canyons for a bit of sillyness! The world famous Park City Pond skimming - while dressed in crazy costumes along with 10 days of free concertss in the Resort Village.
While you are there, check out Hyatt Escala. A true Ski-in, Ski-out property where you will be pampered like you have never been pampered before.
Waldorf Astoria is another one of Canyons specialty properties. Gorgeously decorated with a Golden Door Spa on site. You know I am there as often as I can!
For anything Real Estate Park City, contact me at 435-731-0803
Heather Feldman heather@parkcityhousehunters.com
Check out this link for more Spring Gruv information:
While you are there, check out Hyatt Escala. A true Ski-in, Ski-out property where you will be pampered like you have never been pampered before.
Waldorf Astoria is another one of Canyons specialty properties. Gorgeously decorated with a Golden Door Spa on site. You know I am there as often as I can!
For anything Real Estate Park City, contact me at 435-731-0803
Heather Feldman heather@parkcityhousehunters.com
Check out this link for more Spring Gruv information:
Wednesday, February 29, 2012
It's Snowing in Park City!
Winter is here...Powder day tomorrow.
Wish you were here? Own a piece of Park City.
www.parkcityhousehunters.com
heather@parkcityhousehunters.com
Wish you were here? Own a piece of Park City.
www.parkcityhousehunters.com
heather@parkcityhousehunters.com
Wednesday, February 22, 2012
Real Estate Predictions for 2012
Courtesy of Active Rain. Click the link below to view this as a web page.
Salt Lake City is one of the top 10 real estate markets.
Email me for information about Park City or Salt Lake City properties. heather@parkcityhousehunters.com
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