Category Archives: Featured Listings

Victory Ranch Blog

EXPERIENCE THE SERENITY OF NATURE ONLY 20 MINUTES FROM PARK CITY AT VICTORY RANCH

Our team at Jess Reid – Christie’s International Real Estate disconnected from our daily routine to enjoy endless adventures and to learn more about the real estate at Victory Ranch. Twenty-one minutes after leaving the office in the heart of Park City, we arrived at the gate and crossed that bridge the runs over the four miles of the Provo River that is exclusive to Victory Ranch, a community in the Heber/Park City area.

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Looking down the Provo river from the bridge.

We were greeted by the friendly staff as we arrived at the Freestone Lodge. The Freestone Lodge is peacefully set on the Provo River and is the gateway to over 6,700 pristine acres of beautiful rolling hills, vast untouched spaces and immaculately designed homes and cabins, that belong to Victory Ranch and their members.

Jim Moran, the Sales Director for Victory Ranch, cheerfully welcomed everyone and informed us of new programs at Victory Ranch and what sets them apart from other private communities.

Our team previewed cabins and homes with stunning décor and dramatic vistas. “I’m moving in, or I’m staying here” was a commonly heard joke among the sales team. Lunch at the Clubhouse looking over the course, was followed by a trip via golf carts up to the famous overlook at the 17th hole of the Rees Jones designed course. The overlook has 360-degree panoramic views of the Wasatch Mountains and surrounding wilderness.

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The Jess Reid – Christie’s International Real Estate agents at the 17th hole!

The Outfitters Team broke apart our group so that we could golf, ride ATVs, trap-shoot, mountain bike or fly-fish, the possibilities were endless. Read more about the activities that Victory Ranch offers here, and click to see more photos of our sales team enjoying themselves.

Our team would like to thank Jim Moran, Michelle Eastman, Brigid Flint, the Outfitters Team and staff for welcoming us and making us feel at home in Victory Ranch. The intimate experience for our team was unforgettable and we truly understand the unique offerings that Victory Ranch has for buyers looking to live life to the fullest, each and every day, or for a home away from home.

 

 

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SPRING IS IN THE AIR – PARK CITY REAL ESTATE NEWSLETTER

Spring is in the air and we have a lot of exciting things to share with you! Our newsletter is a combination of lifestyle, business and real estate in Park City. We love to share with you some of our favorite properties and give you an insider’s look at what is going on in our town. Please sign up for our newsletter if you haven’t by clicking here.

To read the most recent Spring newsletter click here.

Contact us today if you have any further questions.

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PARK CITY REAL ESTATE MARKET OVERVIEW

PCThe Greater Park City real estate market continues to improve. Our real estate market is growing at a slow but steady pace; many believe this sets the stage for positive long term growth. The overall sold volume for all areas and all properties in 2014 was up 10% from 2013 to $1.6 billion.

Condominiums and vacant land are leading our recovery. Until recently, they were lagging behind single family homes. Now, more vacation home buyers are re-entering the marketplace and buyers are confidently purchasing land for construction. Condominium sales volume for the Greater Park City area is up 22% from last year at $518M and the average sold price is up 11% at $640,776.

Single family detached homes for the overall Park City area had been strongly leading the market but sales seem to have stabilized. The sales volume is up 1% from last year and total volume for 2014 was $921M. The average sold price is up 4% and is $968,577. However, the number of transactions sold is down 3% from 983 in 2013 to 951 in 2014.

Inventory levels are still at historic lows, especially in certain price ranges and property types, which have constrained sales. However, we are beginning to see more development projects that are almost complete or in construction phases that are pre-selling. New development projects include Silver Creek Village (Silver Creek), Park City Heights (Quinn’s Junction) Echo Spur (Old Town), Village on the Green (Midway) and Blackstone Residences (Canyons). This will increase new inventory in Park City.

Deer Valley’s total sales volume has increased 13% when compared DVto last year. Average sold price for all types of properties is up 9% with single family homes showing an average sold price of $4.1M, up 26% from last year. Condominium sales volume is up 32% and the average sales price was $1.7M in 2014. Stein Eriksen Residences, a new development, will offer more luxury units for buyers.

Canyon’s real estate sales are healthy not only due to Vail’s presence but the beautiful new golf course that is ready for the 2015 season. In Summer 2015, a $50M connection between Canyons and Park City Mountain Resort will begin. We also expect to see more development projects in 2015.

Luxury home sales are on the rise. In the Park City area, we had 243 sales of homes in the $1-5M range, compared to 210 sales in 2013. In 2014, we had 14 sales over $5M compared to 11 in 2013.

Our affiliate, Leading Real Estate Companies of the World (leadingre.com), the largest network of independent Brokers worldwide, is reporting positive sales nationally, above any other network of brokers. Our exclusive luxury affiliation, Christie’s International Real Estate (christiesrealestate.com), reported increases in the luxury home market internationally. When you list your home with us we have the resources to market it across the globe. Please let us know if you are considering purchasing a home outside of Utah or anywhere in the world and we will be happy to help you take the first step.

Talisker has defaulted on approximately $163M in loans with their lender, Wells Fargo. Wells Fargo and/or a court appointed receiver is seeking to find new ownership to re-organize and support the Talisker and Tuhaye properties. In the long run, this should be a positive change for members and should not negatively affect property values in the long run.

Other market influences affecting the Park City and Deer Valley real estate markets are significant. These include installation the proposed Deer Valley – Old Town gondola, the $50M connection of Park City Mountain Resort and Canyons, major progress at the Park City Film Studio which will impact our non-snow economy positively and new regional and local traffic solutions being worked on by the Wasatch Accord planning group.

If not now, when? With the national economy growing stronger, more and more people will be continuing to look at improving their quality of life by getting involved in the Greater Park City community through real estate investments. Contact us today for specific information on any part of the market!

To see graphs comparing 2013 to 2014 for Greater Park City – click here.
To see graphs comparing 2013 to 2014 for Deer Valley – click here.

Promontory

THREE PARK CITY HOMES THAT BRING THE OUTDOORS IN

It’s the first week of Spring, and we have been enjoying the outdoors later and later each night until the sun sets. These three homes are the perfect place to relax and enjoy the outdoors from your own retreat. They encompass vistas you could look at for hours, patios that the whole family can enjoy, backyards that are suited for entertaining and more!

3304 Blue Sage Trail –  Promontory – $4,099,904

PromontoryQuite literally, this home brings the outdoors in. Perched above the 1st hole of the Pete Dye Golf Course, this Promontory home has views of the mountains and golf course. This one-of-a-kind home has a covered wrap around mahogany deck that is accented by 4 sliding pocket doors bringing the in & outside living spaces into one continuous experience not to mention hands down one of the best decks in Park City.

 

8905 N Elk Crest –  The Preserve – $3,990,000

PreserveThe architect of this newly constructed home in the Preserve knew that the home needed to embrace the outdoors. With that being said, a large 2,000 sq ft Brazilian tigerwood deck spans the length of the home. An expansive, textured, concrete patio, in-laid with polished oxide river rock and a 12 x 6 gas firepit composes an inviting focal point for outside living.

 

31 Sandstone Cove –  Park Meadows – $2,675,762

PMYou don’t see backyards like this one very often. The private oasis surrounded by 3 acres and showcases stone work, an impressive water feature and landscaping that will help to wind you down after a long hike or mountain bike ride.

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LET US SHOW YOU THE WORLD – WHAT’S NEW WITH OUR AFFILIATES?

worldWhen you list your home with Jess Reid – Christie’s International Real Estate your property is listed nationally and internationally through our affiliations with Leading Real Estate Companies of the World (LREW) and Christie’s International Real Estate. Our resources through our affiliations provide us with a network larger than any other luxury home network – in the world. This allows us to successfully market and sell your property, whether it is a local, or someone that lives halfway across the world.

If you are working with one of our agents and you are interested in buying property in the United States, or anywhere else in the world, we can refer you to a company that will be happy to find you a dream home outside of Utah.

Here are some more exciting things happening in our network:

LREW’s new website:  Ever wonder what it would be like to live in another part of the world or the country from a local’s point of view? LREW is getting ready to launch a new website. You will still be able to search real estate all over the world and on their new site; you will be able to “See what it’s like there”. Are you on social media? Check out the hashtag #leadingRElocal to see photos from agents all over the world to see what their neighborhood looks like. Don’t forget to follow us on Instagram; (@jessreidrealestate) and on Twitter (@jessreidcire).

Christie’s blog – Luxury Defined (luxurydefined.com): Christie’s new blog is a collaborative approach that shares information about luxury real estate, art and lifestyle. Check it out to read about travel, food and drink, art, interior design and market trends being seen worldwide.CHristie's WebsiteMarketing: As an affiliate of LREW and Christie’s, our company is a global – not just local – real estate company. Our affiliations provide world-class marketing and resources, allowing us to showcase listings all over the world, in digital and print advertising such as the Wall Street Journal and New York Times.

Christie’s International Real Estate’s Magazine: Want to receive a copy of the quarterly Christie’s Magazine? The magazine has listings and spectacular photography of properties all over the world and articles about luxury living. Email marketing@jessreidrealestate.com today to reserve your copy and we will ship it to you.  

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FIVE FABULOUS CONDOS UNDER $500,000 IN PARK CITY

Living in Park City, Utah doesn’t always need to come with a huge price tag. Reasons why people love living in the “Best Town Ever” include; rolling out of bed in the morning to ski or ride one of three ski-resorts, striking the dirt to hike, run and mountain bike over 300 miles of maintained trails and our small-town charm and community! Living in a condo association takes some maintenance responsibilities off the hands of the homeowner, which saves time and money so you can enjoy the reasons why you moved to Park City in the first place.

UNDER $100,000 – Excellent investment – move-in-ready and recently remodeled! – $79,900

79900– Studio – with a small kitchen and full bath
Live on the Park City FREE bus route
In the Park City School District
Step out your backdoor and onto the “Rail Trail”
Great rental income potential
– Listed by Mark Sanders, Jess Reid – Christie’s International Real Estate


 UNDER $200,000 –
Mountain bike and hike out your back door! – $165,000

Canyon Creek– Walk to Redstone Center in Kimball Junction
– Commute to Salt Lake City in under 30 minutes
– Drive to Main Street in under 20 minutes
– Easy access to the Glenwild trail system
– Amenities include a pool, fitness center, parking and more!
– Listed by Cheryl-Fine Whitteron, Equity Real Estate

UNDER $300,000 – Nestled at the base of the soon-to-be “Largest ski-resort in North America!” – $249,000

– Silver King WinterStudio with large living area and a full kitchen
– Walk to Park City Mountain Resort, Main Street, the library and City Park
– Great rental income potential
– In the Park City School District
– Amenities include a pool, hot-tub, underground parking and more!
– Listed by Kathy Penrose, Berkshire Hathaway HomeServices

 

UNDER $400,000 – Room for the whole family in Park City School District! – $324,900

349– Two bedroom/two baths (two separate units with a door in-between)
– Live on the Park City FREE bus route
– Step out your backdoor and onto the “Rail Trail”
– Outdoor pool and hot-tub
– Great rental income potential
– Listed by Chris O’Neill, Jess Reid – Christie’s International Real Estate

 

UNDER $500,000 – Live luxuriously in Deer Valley! – $495,000

DV– One bedroom/one bath
– Free shuttle service (Cadillac Escalades!)
– Fitness center and heated pool
– Heated underground parking
– Liquor store, restaurant and bar within the condo project
– Listed by Patricia Clark, Berkshire Hathaway HomeServices

 

 Whether you are an empty nester and you are ready to down-size, or you are ready to stop renting and own a piece of Park City, or if you want a home away from home and a great investment – condos under $500,000 are the perfect place to start looking. Call us today 435.649.3000 or email assist@jessreidrealestate.com – and we can find the perfect place for you!

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SKI CHALETS – CHRISTIE’S INTERNATIONAL REAL ESTATE

As the exclusive affiliate of Christie’s International Real Estate in Utah, we are able to see some of the most exceptional ski properties around the world. People who share a passion for skiing appreciate the architecture and convenience that our ski-in, ski-out real estate in Park City and Deer Valley offers. We are thankful that three of our ski homes in Park City and Deer Valley were featured by Christie’s International Real Estate in a recent album titled “ski chalets”.
Ski-ChaletsThese luxurious mountain retreats offer the perfect getaway for skiing enthusiasts looking to schuss in style…click here to view all of them! If you have interest in ski properties anywhere in the world, contact us today and we will find you the perfect Realtor.

Promontory

PROMONTORY MAINTAINS A HIGH STANDARD OF LUXURY LIVING

Promontory is one of Park City real estate’s premier mountain communities. Whether you want to relax by the fire at the new family-friendly clubhouse, “The Shed”, mountain-bike or hike trails out your back door, or play a round of golf on one of Promontory two signature golf courses, Promontory has it all.

Our team at Jess Reid – Christie’s International was invited to Promontory this week to get an update on sales in the community and preview the next new golf clubhouse.

Below are highlights from our construction and sales update:

• So far this year there has been 101 home and lot sales
• There are 367 homes that are complete
• 53 homes are currently under construction
• The average home price is $1,854,777 – up 14% from last year
• The average lot price is $357,098 – up 16% from last year
• 829 sales total to-date, in Promontory since its inception in 2004

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Jess Reid and Rich Sonntag of Promontory

The newly built Nicklaus Clubhouse is coming to a completion and will offer another gathering place for Promontory members.

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Rendering of Nicklaus clubhouse, currently under construction

Contact us today for special pricing and incentives to buy or if you would like a private tour of Promontory. Click here to view all of the homes currently listed in Promontory.

Bonnie Sellers

LUXURY REAL ESTATE ON FIRE

Bonnie Stone Seller’s, CEO of Christie’s International Real Estate, was featured on a recent episode of Fox Business to weigh in on the state of luxury real estate. The feature is titled “Luxury real estate on fire”, which tells us immediately that things are looking good in the world of lux real estate.

Seller’s begins by giving us the major stat from the Christie’s Annual Report, which indicates that luxury real estate sales are up 20% since last year. The demand is stronger and the days that luxury real estate properties are on the market is much shorter since past years.

The top markets include urban-central locations such as London, San Francisco, Hong Kong, Miami and Los Angeles. Resort sales are right behind urban-central sales – which is a good indicator for the market in Park City. As a whole, the stats of luxury real estate sales are a great global indicator for the economy.

Make sure you watch the video to get the details and see what sectors are spending their money on luxury real estate:

Bonnie Sellers

Jess Reid's Building

OFFICE SPACE IN THE CENTER OF PARK CITY – FOR LEASE

Highest traffic most visible location in town. Main floor corner office/retail space, signage is available for qualified prospect. Great private parking, remodeled building inside and out. Rare opportunity for a great retail/office space for both locals and tourists surrounded by Olympic Park, open space, Snow Creek shopping center and liquor store. Beautiful finishes and views of the ski mountain. Fully furnished including phone system! (see LA, re:inventory) High speed Internet available, 4 providers already in the bldg. Modified gross lease with incredibly low “introductory rate” ($19 sq ft modified gross!) for qualified prospects is good until Nov 30 with escalators thereafter (see LA). Tenant pays rent and any janitorial and light tub replacement for space. Owner/agent.