Archive

March 2010,

  Did you all enjoy watching the winter Olympics?  Lots of Park City people involved.

   We want you to look closely at the information in this website right now.  It could help you make a decision as to buy or not and maybe why you should now!

    First look at the year-to-year comparison for all property types below. Condos have been the highlight of the year.

   Great prices, great financing and unbeatable locations particularly in Empire Pass make this part of our market bordering on “hot”! Lots of inventory being sold... 

 What does that mean for your plan to wait a little while?  It takes a minimum of 3.5 years to bring a building to market; planning and zoning, architectural drawings, bidding and then building.  The Empire Pass inventory is going down daily.  When the distressed and developer deals go away, the Resale Market will start moving upward.  We are at the bottom now.  Don’t miss out on the best prices since 04!

April 2, 2009, We are currently in the middle of a heavy Snow Cycle and we will have great conditions for the remaining 10 days of the season.

We have seen an increase in activity here at the end of ski season.  1 of the last 2 developer owned Larkspur units is under contract, and currently working an offer on the last.  We are looking forward to the closing of the paintbrush home that went under contract a few weeks ago. 

Below is a quick update of what is currently available and what has happened in the past 12 months.  Feel free to contact us if you have any questions.

 April 2, 2009. Below is a letter that we received from Deer Valley Lodging regarding there current situation.  I am sure Many of you received a similiar letter.  Feel free to give us a call for an inside perspective. 

 DVL: 

The U.S. economy is struggling under the pressure of a credit crisis, the magnitude of which is unprecedented in modern financial times.  This has been particularly difficult for companies in the hospitality industry, like Premier Resorts of Utah, dba Deer Valley Lodging (“DVL”), that rely upon business lines of credit to even out the inconsistencies of their seasonal business operations.  

 Added to this pressure is the fact that a broader domestic and international economic recession/depression has also resulted in far fewer vacation travelers.  As you have no doubt witnessed, lodging reservations in Park City this winter have been approximately 30% lower than what we have experienced over the previous several years.   

 As a result of these factors, our traditional sources of business financing have suddenly become unavailable to us.  Nevertheless, we are working diligently to replace those lenders in order to secure other lines of business credit.  Eventually, we feel confident that DVL will be successful in these efforts as the pressures on our economy and on the travel industry start to subside.

 In the meantime, this extraordinary situation necessitates that we delay payment of current amounts owed to condominium unit owners under our Rental Agency Agreements.  DVL plans to pay all owners the full amounts owed as soon as possible.  

Capsule Summary

  DVL is delaying payments to condominium unit owners for vacation rental revenue due for the first quarter of 2009. This delayed payment plan is necessary because:

 0.U.S. and international economic slowdown has resulted in a significant reduction of vacation travelers staying in DVL properties.

0.The economic slowdown has also forced companies to cancel planned business conventions and other meetings in Park City/Deer Valley. 

0.The credit crisis has caused many traditional sources of necessary lines of credit to become unavailable to the seasonal hospitality industry.

  DVL’s plan of action includes:

 ·        Making additional reductions in staff and business expenses. 

·        Diligently seeking new lines of credit and business capital.

 ·        Liquidating assets available to DVL’s parent corporation.

 ·        Providing unit owners with transparent accounting and regular correspondence. 

·        Beginning payments as soon as possible to reduce and retire all amounts in full.   

 Any requests for additional information should be directed to:

 Bobby Foster Director of Marketing 

Premier Resorts Direct Tel. (435) 655-4823 

bfoster@premier-resorts.com

March 1, 2008 - We are still seeing good action in real estate sales in Empire Pass.  A Paint Brush home went under contract just this week and lots of people coming back for a second look at all types of product. Most realize it is time to make a move.  It is still a “Buyers Market” and the inventory is better than we have seen in years. This pattern is typical in a ski season.  Skiers come in December and January and then come back the end of February thru Easter to consider making a purchase.    Those with their units already purchased are enjoying more and more time here.  The Talisker Club continues to expand their activities and the members love it!

January 30, 2008 - Deer Valley - Two Arrowleaf units have sold and closed since the beginning of ski season.  Add to that a Christopher Homes Twin Home is under-contract and a single family ski in and out lot in Banner wood is under contract.  Real Buyers are coming and making great buys in this part of Deer Valley.  Remember, no one rings a bell at the “bottom” of the market.  You will only see the bottom as the prices start to go up.  This is the time to make the buy.