Park City Life Realty Blog

Reach out to set up a showing for this new listing!  Details below. -Doug 435-731-0170

Winter 2022/2023 was one to go down into the history books for the biggest snowfall ever recorded in this area.  For those of us that live in Park City and love snow sports, the fun continues.  Ski resorts have extended their closing dates, nordic ski grooming continues, as well as the newly popular ski touring up Treasure Mountain at PCMR in the morning and evenings. 

As always, please call on Doug Almstedt with your real estate needs. -Doug 435-731-0170 doug.almstedt@gmail.com

Check out the beautiful new listings by Summit Sotheby's.  Use our Advanced Search to view a complete list of real estate listings in Park City and surrounding areas.  Doug - 435-731-0170

Let's take a look at how real estate in our mountain town is doing comparted to others in the West.

Click here to view the full 2023 Resort Report. 

Please reach out to Doug with any questions.  435-731-0170 doug.almstedt@gmail.com

A trusted relationship with you realtor is imperative.  Over the years we've worked hard to provide the best service to Park City home buyers and sellers.  Many of our clients become friends in the process.

If you're interested in learning more about feedback provided to Park City Life Realty, please visit our "about" page to review the testimonials provided by past clients.  These testimonials can be found on Google review and Facebook reviews as well. 

I'm always happy to chat real estate with you!  Doug - 435-731-0170

My family and I choose the Park City lifestyle purposefully.  A life full of variety, beautiful scenery, peaceful landscapes, abundant recreation, we couldn't love it more.  Partner with me to buy or sell your Park City real estate, and allow me to assist in the Park City Life. The video below is an excellent example of what the Sotheby's creative team can do for marketing. - Doug 435-731-0170

It's important to keep up with the current real estate market conditions, after all real estate is a large investment for most of us.  Talk a look at the metrics below regarding the average sold price and let me know if you have any questions regarding your specific Park City area neighborhood. Doug - 435-731-0170

What features are you looking for in your next home? Or, are you considering enhancing your current home with state of the art features?  Give me a call, I'd be happy to discuss what options are most appealing to home buyers.  Doug 435-731-0170

We're fortunate in Park City in that we see less of an effect in home values as other markets fluctuate.  Please call to discuss the current Park City market conditions. Doug, 435-731-0170

Recently, we’ve heard a lot about high interest rates making property ownership less affordable. On one hand, this is true but let’s take a deeper look at the effects of higher interest rates on the local real estate market first. 

During the Pandemic, prices went to a record high in a short period of time. Now that the craze has subsided and interest rates are higher, properties in Utah are sitting on the market much longer without selling, some not receiving showings or offers. This is bringing prices down, as well as encouraging Sellers take a much harder look at offers that are below asking price. The higher interest rates have started to push home prices down, which can help offset the current interest rate.

With the tables starting to turn from a strong Seller’s market, we’ve been able to negotiate Seller paid concessions off the purchase price that Buyers have used to “buy down the interest rate”. In other words, the Seller pays you a credit that your lender can use to reduce your monthly payment for 2 or 3 years, or even permanently, depending on the loan program. This gives you 2-3 years to refinance the loan, and interest rates are likely to go down in future years. 

Purchasing your home in Utah with less demand in the market will likely yield a lower purchase price.  Ultimately this will make the property more affordable to you.  If you wait for interest rates to decrease, it will likely result in a higher purchase price once inflation is considered, and the market recovers later this year or early next year.

If history tells us anything, waiting to buy property in Park City will end up costing you more.  Please reach out and I can get you in touch with a local lender who can further explain the “Buydown Programs”.  

Let’s connect on your real estate needs this year!  Doug – 435-731-0170

Buydown: Definition, Types, Examples, and Pros & Cons (investopedia.com)