Category Archives: Website & Technology

Sponsor-of-the-Thin-Air-Festival

THIN AIR PARK CITY INNOVATION FESTIVAL

We are excited to kick-off the Thin Air Innovation Festival tomorrow in Park City, as sponsors! The Thin Air Innovation Festival will be the first tech conference ever to be held in Park City. This year’s topic will be Innovation in Human Performance.

The event will bring about 1,200 founders and CEOs of tech companies from around the world to Park City. It will be held April 6-8, 2016 and the theme this year is Innovation in Peak Human Performance. The event kicks off April 6th at the Eccles Center with Kevin Plank, founder of Under Armour, as the keynote speaker. To get tickets to the Evening Keynote event on Wednesday night, April 6th visit Thin Air’s website or call us today! The event will wrap up with a free concert by Thievery Corporation on Main Street on Friday. See you there!

Sponsor-of-the-Thin-Air-Festival

PM

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.

PC

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.

Jess-Reid

Jess Reid – 30 years – Still alive and kicking

Jess-ReidOne day, while supporting a local car wash, Jess Reid paid with his credit card. The cashier glanced at the name on the card. “Jess Reid?” he said. “I have been driving by the Reid Building for years and I thought you were dead.” It has been a joke ever since. Reid, founder and president of Jess Reid – Christie’s International Real Estate, not only has an iconic building in Park City but has also been a mover and shaker in the city for the past 35 years.

“I meet so many people who are surprised when I tell them who I am. I guess it makes me seem ancient having a building named after me – but yes, I am still here at the Reid Building every day,” Reid said, “I’m not dead yet.”

In 1978, Reid managed a Park City branch of the largest real estate firm in Utah, but he soon sought to make a change. Reid started his own real estate company, Jess Reid Real Estate in 1983, and shortly afterward listed the village at the base of Park City Mountain Resort. “I remember when there was no Park Meadows or Deer Valley, and you could buy a lot in Silver Springs for $19,000 and a furnished condo at Park City Mountain Resort for $30,000. Things have come a long way since then,” he said. In the 1980s, Reid’s team listed and sold many projects around town, most of them bank-owned.

Reid was the founding president of the Park City Chamber Bureau, on the founding board of directors and served as president for the Park City Board of Realtors and Park City Rotary club. Reid was a recipient of the Park City Leadership Award and served as a former board member and chairman of the Utah Travel Council.

After working at a large corporate real estate company, Reid feels his mid-sized boutique firm with just over 30 agents proves that bigger doesn’t always mean better. The firm is coming out of the Great Recession and celebrating its 30-year anniversary. Reid says it is gratifying that he has had so many people support him throughout the years, including several agents that have been with him between five and 20 years. “Agents stick around because Jess is a knowledgeable resource and he’s always there for us,” one of the agents said.

Jess Reid – Christie’s International Real Estate has adapted to the time and the market. “Technology is a huge part of the business today,” Reid said. “We recently built a cutting-edge website that is not only current and easy to use but the perfect tool for searching the entire Park City Multiple Listing Service. It is also a great resource for everything in our community and we post relevant information on all of our social media platforms.”

The company is affiliated Christie’s Art Auction House as well as Leading Real Estate Companies of the World (LREW). “We have a nice balance between local, national, and international affiliations,” Reid said. “Our affiliations with Christie’s and LREW are beneficial to our customers because they bring in leads from outside sources that are interested in buying our clients’ homes or selling their own.”

Reid has had offices in Upper and Lower Deer Valley for the past 15 years. After four recessions, Jess Reid – Christie’s International Real Estate has successfully been around longer than any other company in town. They must be doing something right.

Website Wednesday – Greater Park City & Deer Valley Neighborhood Summaries

Need to get familiar with the Greater Park City area? We have made it easy with our detailed neighborhood summaries on our website. We are happy to share with you what we think makes each neighborhood particularly unique.

Each neighborhood summary includes:

  • A description and highlights about the community
  • Hyperlinks to important local organizations and landmarks in the community
  • Low and high real estate prices for single family homes, condominiums and vacant land
  • Links – to map search single family homes, condominiums and vacant land that are in the neighborhood that you are learning about
  • Links to other neighborhood summaries that are near the one that you are currently viewing
  • And, a showcase of homes that are in the currently for sale in the community

Some of our popular neighborhood summaries include: Old Town, Park Meadows, Upper Deer Valley, Lower Deer Valley and our overview of the Montage.

If you would like a detailed market overview for a specific neighborhood, more information or would like to set up a tour of a specific area, don’t hesitate to contact us!

Website Wednesday – Social Media

Since the launch of our new website we have also increased our use of social media. We encourage you to enjoy the benefits of our constantly up-to-date blog and social media sites and join our conversation on these sites. Via social media, we will share valuable information such as market updates, new listings, real estate news, Park City and Deer Valley events, news and more!  This Website Wednesday, we would like to share with you the other places that we are online so that you can find us no matter where you are:

Facebook_like_button_thumbFind us on Facebook!

Follow us on Twitter!

+1 and add us to your circles on Google +

Follow us on Linked In!

Welcome to our new website!

We are so excited to launch a new website that was long overdue. We took our time to build our website with everything that you could ever need when buying or selling a house in the Greater Park City area.

To help you get the most out of our new website, this will be the first post of a new series we will call “Website Wednesday”. Each Wednesday we will take you on a tour of our website and tell you about highlights of the site, how to search easily and how to save searches – right on our own site!

For this week’s introduction and celebration of the launch let’s do a quick overview of the highlights on our new site:

1.     Search– right from our homepage you can start your search for any type of property in Park City. Just fill in the parameters and begin your search, the results page is unbeatable with a map built in of all the properties that meet your requirements.

1.      My Dream Home – Your Search Manager- Save your favorite properties and searches right on our website. Create a free account and come back to compile all of your favorite properties and get free updates when something hits the market that meets your search requirements.

2.      It’s responsive – which means you can access www.jessreidrealestate.com on your phone, on a tablet and of course on your computer and view it simply. This means there is no need to download a mobile app; search or contact us right from your phone on the go!

3.      Our Blog- check out our blog for market updates, featured properties, what’s going on in Park City and more. We have the inside, local scoop on everything here in Park City. You can count on us to keep you updated!

4.     Neighborhood Summaries your one stop shop for everything that you have ever wanted to know about our different communities within Park City. Our neighborhood summaries include links, price charts, and descriptions plus, you can view all properties that are for sale in the area right from the neighborhood summary page.

5.     Community Links let Jess Reid-Christie’s International Real Estate guide you in the direction that you need for just about anything related to Park City. Our community links are organized in a fashion so that you will be able to find what you need quickly and efficiently.

Start exploring and contact us if you have any questions or if you would like us to cover something specific about our website in the next Website Wednesday blog post!