Category Archives: Luxury Homes

Room_Printed-Walnut-e1517855885192

6 Reasons Why Luxury Vinyl Flooring is Trending

Luxury Vinyl Plank FlooringThe International Builders Show was last month in Orlando, Florida.  The show is sponsored by the National Association of Home Builder’s (NAHB), and attracts building industry professionals from around the globe.  Attendees were tasked with taking in over two dozen football fields’ worth of building manufacturers’ wares.  A product article I read boiled it down to a top 11 list, but I was most excited about a flooring product that the NAHB expects will really start trending by the spring.  It’s called Luxury Vinyl Planks (LVP).

As a broker I go into a lot of homes. I see a surprising number of laminate floors.  Granted they have definitely improved over the years.  They tend to be less “clicky” underfoot and are looking more like real wood.  (Heck, even formica’s come a long way, baby.)  But you can certainly tell it’s not hardwood.  People opt for laminate for practical reasons.  It’s a very good cost alternative, especially for dog lovers seeking a scratch resistant material.  But now there’s an attractive alternative to the alternative that’s definitely worth considering, especially since recent technology has really upped its game.  Luxury vinyl plank flooring is quickly becoming the new alternative to premium hardwood floors, and a more attractive option over cheaper looking laminates.

What is luxury vinyl?

Welcome to the wonderful world of “Smart Flooring”.  Luxury vinyl planks create a beautiful and resilient, durable floor that stands up to real life.  It’s an exciting alternative to hardwood flooring, or Pergo, the leader and most recognized brand of laminate flooring.  Luxury vinyl planks are individual planks of vinyl as opposed to sheets.  It’s often mistaken for real hardwood because it looks and feels so real.  Some people in the flooring world claim it looks even better!  Be clear there are different grades of luxury vinyl and price points.  The highest grade and fastest growing segment of the market is known as an Engineered Vinyl Plank (EVP).  Coretec Plus, made by US Floors pioneered this segment of the market in 2012.

Advantages of Engineered Vinyl Planks

1     Looks and Feels Real
Luxury vinyl planks have a highly realistic look and the feel of hardwood.  High end vinyl planks are individual pieces with beveled edges and real texture and graining, so they look real (unlikely sheet vinyl or cheaper vinyls or laminate which has simulated graphics).  The planks are installed in a randomized way so they also look more like real hardwood.

2     Comfort and Warmth
Engineered vinyl planks are about 8mm thick and are constructed in layers – with the top being vinyl; the middle a strong, highly dense fiber board core; followed by an attached under layer that provides more cushioning, insulation and sound-proofing.  As a result EVP have great warmth and texture underfoot and because of the construction they sound like wood floors.

3     Water Proof
You can have a high-end look and not have to worry about water.   The high quality luxury vinyl planks are waterproof.  EVPs are perfect for spaces that have water or may have moisture such as kitchens, bathrooms, mudrooms, basements and laundry areas.

4     Easy to Install/Maintain
Flexibility is the name of the game with luxury vinyl planks.  The floating, click-able floor is practically indestructible and can be installed at any point during construction.  It can even be installed easily over existing floors.  It does not require any time for acclimation.  The planks fits easily around already installed cabinetry.  Vendors provide matching moldings and quarter-round to hold the floor firmly in place.  The system requires less adhesive and does not call for heat guns, seam tape or power stretchers.  Exceptionally durable, with superior scuff and wear resistance it requires no refinishing.  It’s more scratch resistant than hardwood, but less than laminate.  Planks are easily removed and replaced if you do experience scratching.  So save those extra planks!

5     Saves Money
LVPs are a great budget-sensitive option.  The glue-down product is the least expensive.  The floating floor product (EVP) is more expensive than laminates and more affordable than  hardwood.

6     Wide Selection of Styles/Colors
With a few different plank sizes and color choices in categories of darks, greys, lights, mediums and multi-tonal there are plenty of stylish options.

The rising popularity of luxury luxury vinyl colorsvinyl planks as an alternative to hard wood is similar to the uptick in quartz versus granite counter tops.  Quartz is a formidable countertop contender as it’s a material that offers both beauty and practicality at a competitive price.  Whereas granite can stain or chip and requires periodic resealing, quartz is highly durable and does not need maintenance.  I predict the luxury vinyl product is going to move in and take over as the wood alternative and be even more popular than laminates.  Its practical qualities combined with a high quality aesthetic is its real strength and selling power.

4 Tom Ward color cropped low res


Tom Ward, Realtor

CLA, CSA, CRS, e-Pro, GRI, SRS


 I have been a full-time agent with Jess Reid | Christie’s International Real Estate since 1994 and am devoted to Park City’s Neighborhood home sales.  I have a passion for the art and science of home resales and a track record for delivering “results that move you”.  Don’t hesitate to call or email me for information regarding the selling process.  It’s never too early to start preparing for a sale!

Tom@PCNeighborhoods.com • 435-647-3727
pcneighborhoods.com/endorsements 

alder-and-tweed

WHAT ARE THE INTERIOR DESIGN EXPERTS SAYING?

We called our friends over at Alder and Tweed, an interior design firm in Park City, to get an update on what’s hot this season. Here is what is currently trending:

  1. Factory windows: We love the pained glass and industrial look of factory windows and glass. For those clients who don’t want to take a risk or incur the expense of replacing the windows in their house, we think it looks great as a shower enclosure as well.
  1. Gold plumbing fixtures and hardware: Don’t think this is your parents 80’s brass, the new gold fixtures have warm finishes and make a space feel cozy and current.
  1. Black and White: Think white cabinets with black lighting fixtures and black wood floors, there’s something fresh and fabulous about this contrast that people are asking for again and again!

Deer crest Residence from Alder and Tweed on Vimeo.

These are just a few of their favorite things right now. Remember, some people still love the old cabin feel with lots of logs, some people love the super mountain-modern feel, and some like a mixture of both! Check out Alder and Tweed’s website to see current looks and get some ideas for your property. Let us know if you have any questions or would like us to put you in touch with them!

We are so excited that Alder and Tweed recently helped us give all three of our offices a makeover. Feel free to stop in and see our new updated look, we are in love with the textured wallpaper and patterned carpet that made our offices feel very current but timeless!

Mountain Retreats

MOUNTAIN RETREATS BOOKLET – CHRISTIE’S INTERNATIONAL REAL ESTATE

We are excited to have two of our properties in Park City featured in Christie’s International Real Estate’s Lifestyle Collection. The Mountain Retreats book features homes from around the world that are tucked away in the mountains. To view an electronic version of the book or if you would like a hard copy contact us today!

Mountain Retreats write up Promontory Mountain Retreat Deer Crest Mountain Retreat

Empire-Pass-Interior-with-View

RARE NEW PROJECT IN EMPIRE PASS – ONE EMPIRE PASS

We have the inside scoop on One Empire Pass, the new ski-in, ski-out development in Empire Pass, Deer Valley that has an estimated completion date of winter 2017-2018. One Empire Pass will have 27, three and four bedroom, units that will feature spectacular views of Deer Valley Ski Resort, Old Town Park City and the Uintas.

One Empire Pass 1

The project is being designed and managed by a team of seasoned developers from East West Partners. East West Partners has conceived many successful projects including: Shooting Star, Larkspur, Paintbrush, Arrowleaf and Flagstaff in Empire Pass, along with other projects in Bachelor Gulch and Beaver Creek in Colorado. Their design is unique and is tailoring One Empire Pass to buyers who want a high-end ski-property that has all of the amenities and features that are sought after. Two, three and four bedroom residences will be offered and prices will range from $2.5M-$4M.

Empire-Pass-Interior

Amenities and features include:

  • Private elevator access to each unit
  • Large living and kitchen areas with views
  • 10 feet tall – floor to ceiling windows
  • Two over-sized hot-tubs on the “amenity deck”
  • A hammock garden and large patio for lounging outside
  • Talisker membership available
  • Large ski-lockers accompanied by a bar and breakfast/après ski lounge and ski-valet
  • Live-in residence manager
  • Mountain-contemporary interior design by Barclay Butera

Contact us today for more information about One Empire Pass and for a tour of the building site.

Aerial-2

Empire-Pass-Interior-with-View

RARE NEW PROJECT IN EMPIRE PASS

We have the inside scoop on One Empire Pass, the new ski-in, ski-out development in Empire Pass, Deer Valley that has an estimated completion date of winter 2017-2018. One Empire Pass will have 27, three and four bedroom, units that will feature spectacular views of Deer Valley Ski Resort, Old Town Park City and the Uintas.One Empire Pass 1

The project is being designed and managed by a team of seasoned developers from East West Partners. East West Partners have conceived many successful projects including; Shooting Star, Larkspur, Paintbrush, Arrowleaf and Flagstaff in Empire Pass, along with other projects in Bachelor Gulch and Beaver Creek in Colorado. Their design is unique and is tailoring One Empire Pass to buyer’s who want a high-end ski-property that has all of the amenities and features that are sought after.Empire-Pass-Interior

Amenities and features include:

  • Private elevator access to each unit
  • Large living and kitchen areas with views
  • 10 feet tall – floor to ceiling windows
  • Two over-sized hot-tubs on the “amenity deck”
  • A hammock garden and large patio for lounging outside
  • Talisker membership available
  • Large ski-lockers accompanied by a bar and breakfast/après ski lounge and ski-valet
  • Live in residence manager
  • Mountain –contemporary interior design by Barclay Butera

Contact us today for more information about One Empire Pass and for a tour of the building site.

 

Apex-2

INTRODUCING APEX THE FIRST SKI-THROUGH VILLAGE DEVELOPMENT

We are excited to have information about the newest project in Canyons Village, Apex. Apex will be the first ski-through development in Canyons Village at Park City Mountain.

Canyons Village  is the base of the, now, largest ski resort in North America. With $50 million dollars in improvements made by Vail Resorts, Park City Mountain now offers:

• Over 7,300 skiable acres, 2 gondolas, and 38 lifts
• Only a 30 minute commute to Salt Lake City International Airport
• New on and off-mountain dining optionsApex---Canyons-Village

Apex – Canyons Village

Apex will offer slope-side living with dramatic vistas and is offering:

  • Apex offerings 63 Residences
  • Prices range from $1.4m–$3.0M+
  • Featuring a range of bedrooms 3, 4 & 5
  • Floor plans spanning approximately 2,000–3,800 sq ft*
  • 2 packages for interior design options – mountain contemporaryApex
    The stunning clubhouse at Apex offer owners private access to 5,800 sq ft of amenities including a:

    • Fitness club
    • Heated outdoor pool
    • Splash pad and 2 hot tubs
    • Fire pit
    • Club room and bar
    • Dedicated concierge
    • Treatment rooms
    • Game room

    APEX is managed by Vail Resorts Hospitality

 

Arrowleaf 2

TALISKER FORECLOSURES DONE!

Written by: Jess Reid

As of today, November 17th, 2015, the final foreclosure sale was conducted for Talisker properties at the County Courthouse. The underlying lender, Wells Fargo, made a credit bid for $35M for the properties in Summit County only. On October 29th, Wells Fargo also made a winning credit bid for $35M for the Wasatch County based properties.

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Arrowleaf in Upper Deer Valley

At the foreclosure sale, there were approximately 70-75 people attending. However, the only bid was placed by Wells Fargo.

No one seems to know yet what Wells Fargo will do with the properties or if they already have buyers waiting in the wings. My best guess is that by essentially taking back these properties on a credit bid it will clean up any complications related to the prior owner (Talisker). I am told that a credit bid is when the lender takes a property back for the amount of debt owed and others participating bidders would need to beat the lender’s bid. This would allow Wells Fargo to have more control over the disposition of the properties. Wells Fargo may want to break up the big bundle of properties and sell off parcels separately to bring more money in to either minimize their losses or make money on the sale.

We will keep you posted as this historical event continues to unfold.

Park Record Articles on the matter:

Developers ‘salivating’ as Talisker land heads to auction – November 13
Bank is the only bidder – November 17

Sales-Volume-Park-City-Logo

MARKET OVERVIEW – MID YEAR 2015

MARKET REPORT – PARK CITY REAL ESTATE 2015 MID YEAR

Click below to view the market report:

The Greater Park City real estate market has the highest number of closed sales and total dollar volume, for the first half of the year in 2015, since 2007. The market is growing at a steady pace and is showing many notable improvements. The overall sold volume for our market is up 6% to $827,826,405, for the first two quarters.

Single family homes have an average sales price of $1,047,661 and the number of sales is up 9%. Old Town saw a healthy 45% increase, with an average sales price of $1.5M. Promontory, Jordanelle and Glenwild also had a prominent increase in sales volume.

Condominiums are continuing to lead our recovery. Condominium sales volume is up 15% and the average sales price is $721,455, which is up 8%. Prospector had the highest jump in sales with 25 sales compared to 8 in the first half of 2014.

Vacant land sales volume is down; 17% to $82,010,103. Although, lot sales volume in Promontory is up 29%, in Jordanelle it is up 11%. In Lower Deer Valley the average sales price for a lot is up 70% to $590,946, compared to the first half of 2014. A lot of this volatility is related to lower inventory – especially as areas in the city limits get built out.

Deer Valley vacant land and condominiums are currently the most amplified sector in the area with the sales volume up 51% collectively. Single family home sales are down 17%, which we believe is due to lack of inventory. Condominium sales are higher than home sales with newer ski-to and from properties increasing in value. Condos near the base of the resort are selling quickly, being remodeled and are considered a good value with room for appreciation.

Synderville Basin offers home buyer’s more space for a more reasonable price then living in Park City proper. However, prices in Synderville Basin are increasing. The median sales price for a single family home is $850,000 up 18% from one year ago.

A large range of prices is evident in Park City. Although we have a high average sales price there are areas that offer great locations for a great value that could significantly appreciate with a remodel. For example, condos in Prospector range from $100-300,000, lower-end condos in Old Town start at $200,000, older single family homes in Park Meadows start at $750,000 and new construction condos in Kimball Junction, at Bear Hollow Ridge, start at $305,000.

Other market influences worth noting include the final expenditures of our walk-ability bond. This includes enhanced bike paths, pedestrian paths and tunnels at highly trafficked areas to improve safety and enjoyment for walkers and bikers. The Mountain Accord working with Greater Salt Lake City is making progress on solving traffic congestion in the area, among other things, as we have increasing seasonal and year-round population. This is important to carry on the quality of life that the Greater Park City area provides.

Inventory levels have been consistently low since 2012. As of July 1, our inventory was higher than it has been in a year. However, our segmented market shows that inventory in many desirable areas and price ranges is low.

There is only one. Park City. Our town is now home to the largest ski resort in America with over 7,000 acres of skiable terrain. Vail Resorts has initiated many improvements as part of a $50 million dollar project, which includes the new 8-person Quicksilver Gondola that will connect Park City Mountain Resort and Canyons Resort.

Luxury home sales in the overall Greater Park City area have increased and there is an increasing number of high-end buyers that have re-entered the market since the great recession. The number of sales over $1M have seen a 17% increase with 149 sales over $1M

in the first two quarters. $5M – $10M sales are healthy but are constant with last year so far.

Auctions have been introduced as a current trend in our market. This year, four homes over $6M sold. Jess Reid – Christie’s International Real Estate is pleased to have represented a client that purchased one of the homes listed at $11,750,000.

Christie’s International Real Estate releases a White Paper annually that gives us an insight on the global luxury property market. In 2014, US $1M plus sales were up 16%, over 2013. In 2012-2013 they reported an explosion in urban luxury home sales growth. However in 2014, we are excited to see that second-home resort markets are red hot, leading the growth in luxury property sales. The report shows that the average price in a lifestyle and regional resort market is about $1.5M. Park City’s median home price for the first two quarters of 2015 is $1.34M.

Life in Park City is something that we are thankful for every day. Our sense of community and our unique mountain-town that offers abundant open space is unlike any other place in the world. Call us today to learn how you can make Park City your home or get-away from home.

CONTACT US! With three locations in Park City and Deer Valley we are ready to answer any questions you have about the market and would be happy to provide you with a more detailed market report of a specific area or property type.

To view Greater Park City graphs – click here

To view Deer Valley graphs – click here