The best place to live, work and play.
ITS THE PLACE AND THE PEOPLE
By Annette Velarde
Park City’s Board of Realtors agrees with locals and visitors alike: This is the place in the world to live, work and play. The scenery, active lifestyle, and unassuming attitude combine to support one of the strongest resort real estate markets anywhere. Strong sales statistics in all property sectors verify that investment in homeownership in Park City is sound, but the benefits of being part of this mountain community go far beyond a healthy return on investment.
“The fact that this company, with over 4,600 offices worldwide, has decided now is the right time to make their entry into our market under their luxury brand, Re/Max Collection, says it all.” Butch Dailey, owner of the franchise, holds the same opinion.
“I own Re/Max offices all over Utah, but the Park City brokerage is unique among my holdings,” stated Dailey. “There is no other ski town in North America with the attributes of Park City. The airport is so easy to access, there are eleven top-rated ski resorts just a few miles apart, the area has an incredibly wide variety of properties available at all price-points…the list goes on and one and points directly to the unmatched real estate investment opportunities here.” Whether it’s a ski-in/ ski-out condo, a fully operational ranch, or anything in between, it’s just minutes from the heart of Park City.
“Park City is like a world-class Bordeaux,” says Steve Roney, President and CEO of Prudential Utah Real Estate. “It’s the expert blending of a variety of different ingredients, all excellent in their own right. However, the whole becomes far more than the sum of its parts, creating a synergistically matchless result that is the best in the world.” According to him, the magic moment for Park City was the 2002 Winter Olympics. During those games, the world was allowed to view an idyllic mountain hamlet that was just minutes away from a major international airport. Olympic attendees returned home singing praises of this alpine utopia with a sophisticated population, yet unpretentious and welcoming. “Where else in the world can you move your family so they can take advantage of all the benefits of raising a family in a small town, yet with all the bread-winning opportunities of a major city?” asked Roney. I’ve traveled the globe, and I’ve found Park City is unique among ski resort towns. That’s exactly why I moved here, too.”
Christine Robinson, Executive VP and Principal Broker of Prudential Utah Real Estate, echoes Roney’s sentiments. “I’ve lived here a long time and seen a lot of changes. I can honestly say Park City has gotten better every year,” Christine continued, “The community here is very protective of our relaxed, yet socially responsible lifestyle. That results in real estate ownership opportunities that can be counted on to be steady, reliable investments.”
As Principal Broker of Summit Sotheby’s International Realty, Thomas Wright keeps a close eye on the numbers that confirm Park City real estate is perhaps the soundest investment in resort real estate anywhere in the country. “Clearly, volume is up and prices have stabilized, indicating the strong recovery of our market is here,” affirmed Wright. “The leading indicator over the past year is land acquisition, which is the precursor of new home starts. 2013 is already looking like it will be a banner year for building and sale of existing homes.”
As a 35-year resident of Park City, Jess Reid, owner of Jess Reid Real Estate, has watched Park City grow from an ex-mining town into the superstar four-season resort area it is today. He never forgets that Park City’s roots are in mining—a rough and tumble industry that persevered because everyone worked hard and stuck together. Historic Main Street is a daily reminder of the people who carved a dream out the mountains. “I find the people who invest in property here keep that sense of unity and optimism alive. While the rest of the country was watching their Real Estate take a nose dive, Park City’s dipped, leveled off, and now is on a healthy rebound,” Reid said. “I don’t think that is solely due to the obvious advantages of having a major airport 30 minutes away or three world-renowned resorts within our borders. It’s because everyone, whether they are buyers or sellers, knows Park City is a unique jewel of a community. I feel so lucky to have had a hand in shaping it and wouldn’t consider living anywhere else in the world.”
Talisker Corporation, owner of Canyons and creator of luxury residential neighborhoods, is the largest landowner and developer in the area. Bill Fiveash, Principal Broker for Talisker Real Estate, is pleased with all they have accomplished and have planned. “We’ve gone to extraordinary measures to layer thoughtful, superb planning into our projects and have them dovetail beautifully with the charming community that was already here well before the Olympics,” said Fiveash. “Park City still has enough room in both its ski villages and the surrounding area to design new and innovative real estate products that the market is requesting without losing the small-town feel we all love. In the next few years, we believe first or second homeownership in Park City is going to go from world-class to absolutely stellar!”
Jeff Spencer, Principal Broker for Resorts West Real Estate, says his clients compare Park City to a fully loaded luxury car. “Excellence doesn’t happen by accident. It’s engineered into every aspect of the whole package,” said Spencer.
He thinks that Park City has set the bar for resort towns by taking action to judiciously preserve the warm small town feel while expanding modern conveniences and services. “The advantage of owning Real Estate in Park City is its complete package of property options, especially, its rich inventory of on- mountain ski-in / ski-out homes and condominiums. Natural beauty outdoor sport choices, top-rated schools, and easy accessibility to a major metropolitan city all contribute to our strong property worth,” Jeff said. “But perhaps the single most attractive aspect of Park City is our full-time resident community. Our clients comment often on how friendly, respectful, and welcoming they are. They have that wonderful sense of belonging right from the start.”
Graig Griffin, CEO of Keller Williams Park City Real Estate, likes the numbers he sees, but says there’s more important influences for homebuyers in the area. “Everything we do at Keller Williams and in Park City is focused on the people involved. Yes, affluent clients love our real estate market. But, our agents, buyers, and sellers love being members of our community. In Park City, bling is out and thoughtfulness is in. Our eclectic citizenry treats everyone with equal respect whether you live in a mansion or a studio condo.”
Members of the Park City Board of Realtors strive not to only be people of success, but people of value. “Success is the natural result of service,” says Tami Whisker, President of the PCBR. “Our real estate agents prove that proverb true with each and every transaction.”
Find a local expert agent, 435-200-6900, parkcityrealtors.com