Quality Of Life - Reasons to Live in Park City

1.    Cost of Living: Moving from high-tax states like New York and California can reduce living costs substantially, especially given new tax laws. According to TaxFoundation.org, Utah ranks middle of the pack nationally (25th) for state income taxes with a maximum rate of 5%. For combined sales tax, Utah is 29th at 6.77%. As for property taxes, the Beehive State is 40th at an average of 0.65%. However, the property tax rate in Summit County (Park City) is only 0.463%. According to some back-of-the-napkin math, you'll get three- to four-times as much house for the money compared to LA's West Side. And property values appreciated 9.9% annually as of Q1, which ranks fifth in the country according to the FHFA.

2.   Education: The public school system is the best in the state, and Park City High School ranks in the top 2% nationally. Park City public schools let out at 12:30pm on Fridays so students can go skiing or participate in other sports. There is also Winter Sports School, a charter high school that operates on a reverse schedule to accommodate winter competition and travel. If private school is preferred, Park City Day School goes from kindergarten to eighth grade and has been under the leadership of Ian Crossland for the past year.

3.   Convenience: Salt Lake City International Airport is a 30- to 45-minute drive from town (no traffic), from where a flight to LA or San Francisco is about 1.5 hours. To accommodate growth, the Utah Department of Transportation has been widening highways, resurfacing roads and expanding traffic circles on a huge scale this year, all of which is well ahead of any congestion issues.

4.   Business Opportunities: The Beehive state is booming. The Salt Lake/Provo/Park City triangle, dubbed Silicon Slopes, is an emerging tech powerhouse. This is supported by two universities (the University of Utah and BYU) as well as big tech companies (Adobe, Microsoft) and several startup unicorns (Banjo, Domo, Qualtrics).

5.   All Four Seasons: Summers are actually better than winters. High temperatures average about 80 degrees F with low humidity. In early June, the aspen trees and wild flowers explode into bloom. Soon the mountainous landscape becomes a tapestry of rich greens that seem to glow as the sun sets after 9:00 pm on the summer solstice. Just 25

minutes away is the Jordanelle Reservoir, which supports boating, paddleboarding, wake surfing, fishing or just relaxing on a pontoon boat for the day. Lest I forget, Park City is home to seven golf courses.

6.   Mountain Biking: Park City holds the distinction of being the very first Gold Level Ride Center, deemed as such by the International Mountain Bike Association (IMBA). "It all stems from a commitment to master planning," says IMBA's VP of Programs, James Clark. "The sheer miles of trails are fantastic, but what’s important is that they function as a cohesive network, with signage and trail connections that create a model riding area." That network includes nearly 500 miles of singletrack trails that appeal to all ability levels. Plus, Deer Valley runs the lifts for mountain biking and is continually building trails to expand its world-class bike park. 

7.   The State of Utah: Park City is one of many gems in a state full of natural riches. Utah is home to five of the premier National Parks: Zion, Bryce Canyon, Arches, Canyonlands, and Capital Reef — all within a few hours drive time. Renowned mountain biking and off-roading destination, Moab, Utah, is a five-hour drive and also offers access to rafting on the Colorado River. A little further and you can be in The Grand Canyon, Grand Teton, and Yellowstone National Parks.

8.  Some of the Best Ski Resorts in the World: At 7,000 feet above sea level, Park City has a year-round population of about 25,000 and is home to two ski resorts: Deer Valley Resort and Park City Mountain Resort. The former was voted the #1 ski resort in North America by SKI Magazine (2018) and is exclusive to skiers. The latter has the most skiable terrain (7,300 acres) in the United States and is open to snowboarders.

9.   More Amazing Ski Resorts: There are many more world-class ski resorts within an hour's drive: Alta, Snowbird, Brighton, Solitude, Snowbasin, and Powder Mountain to name a few. Not to mention Powderbird Helicopter Skiing, which picks up in town.

FREE HOME EVALUATION….$495 VALUE

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From: Paula Higman

890 Main Street 5-101

Park City, UT 84060

435.602.8228 Call or Text today...

FREE HOMEEVALUATION….$495 VALUE

4th Quarter Real Estate

HOME IMPROVEMENT ADVICE
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Does Your Home Have An Odor?

You’ve worked hard to get your home ready to sell. You’ve cleaned, decluttered and painted. But there’s still one more thing you need to do – make certain your home smells great for every showing.

Here are four things to keep in mind to ensure your house smells fresh and clean for potential buyers:

Stuffiness. Energy-efficient homes lock in odors. Open the windows and air out stale, musty rooms. Steam clean carpets and curtains, wash all bedding, and store stinky athletic gear and out-of-season clothing and shoes away.

Pets. From goldfish to iguanas to cats and dogs, all pets produce odors. Dogs need baths, and most need brushing. Cat boxes need daily scooping. Animal cages need constant cleaning. Steam clean all fabric surfaces where pets sleep and play with their toys.

Food odors.  If you love foods like garlic, cabbage and fish, your kitchen holds odors, too. Clean your oven, burners, sink drains, and any other equipment that may carry odors. Grind up a lemon in the disposal and let the water flow. Clean out the refrigerator.

Mold and mildew. If you can smell moisture, it will soon turn worse. Check pipes and floors for leaks. Toxic mold can grow anywhere that contains cellulose, poor light, and low air circulation. Replace cloudy shower curtains and wash towels frequently. Replace cleaning and dish sponges with fresh scrubbing tools.

To keep your home showing-ready, wash dirty clothes and bed linens frequently. Take baby diapers and other disposables to the outside trash every day.

A good rule of thumb is – if you can’t remember when you cleaned it last, clean it now

MORTGAGE ADVICE
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Your Rights As a Borrower

When you shop for a mortgage loan, you have certain rights that are guaranteed by the federal government’s Consumer Financial Protection Bureau. Knowing your rights will help you get the best loan possible.

You have the right to:

1. Receive equal treatment by the lender, so that a credit decision isn’t based on your race, color, religion, national origin, sex, marital status, age, or whether any of your income is from public assistance.
2. Shop for the best loan type for you, whether adjustable or fixed rate, and compare the fees of different lenders.
3. Be informed about the total cost of your loan including the annual percentage rate (APR), points and other fees. Your interest rate is based on your credit history and credit scores, the borrowed amount and how much you’re putting as a down payment.
4. Receive a Loan Estimate and Closing Disclosure Form, formerly known as a Good Faith Estimate, before you agree to the loan and pay any fees. Compare the exact loan product you want as offered by two or more lenders.
5. Know which fees are not refundable if you decide to cancel the loan agreement, such as the fee to research your credit.
6. Ask questions about loan terms and fees that you don’t understand.
7. Know the reason if your loan was turned down.

Ask your lender to show you the advantages and disadvantages of each loan product so you can choose the best one to suit your needs. As always, consult your financial advisor before making any decision.

HOMEOWNERS’ ADVICE

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Winterize Your Home

Winterizing your home is one of the best ways to get comfortable and save energy costs. It’s not too late to get a few projects done before the holidays, so here’s a short weekend list of to-dos to help you.

Check the furnace. Typically, a heating system has a heat/cooling source, distribution system, and thermostat, so there is plenty of room for error. Make sure that your system is properly inspected and cleaned and has fresh filters according to maintenance directions. Call a master certified plumber to look for potential dangers such as carbon monoxide leaks.

Check detectors. Since you’ll be indoors more, it makes sense to also check smoke and carbon monoxide detectors. According to EPA.gov, smoke detectors with a UL rating have a useful life of 10 years so don’t just push the button to see if it’s working. Stick a real flame source, such as a candle or a match, to see if the detector can actually pick up on the smoke being emitted.

Check insulation. Energy leaks put a hole in your wallet, so do your best to identify and seal all leaks in your ceiling/attic and cracks in or around your windows and doors. A quick way to check if you have enough insulation is to go into your attic and look at your rafters-if you can see ceiling joists you can add some more insulation. Though this will be an expensive process, your heating costs will drop right away.

FINANCIAL ADVICE

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Quick Ways to Build Equity

Equity is the percentage of market value that you own in your home. Your lender owns the rest, so your goal should be to pay the lender’s share (the principal) down and build your share (equity) up.

You don’t need to go to extreme lengths to pay down your mortgage. Just follow these few easy tips

1. Buy wisely. Buy as much home as you can without straining your resources, so you can occupy your home longer. Moving and closing costs eat away equity.
2. Pay a little extra. Pay a little more every month toward reducing your principal. Use bonuses or cash back on your credit cards to apply to your mortgage. Making one extra payment a year could shorten your loan payoff by as much as four years, saving you thousands of dollars in interest.
3. Pay off other debts. Don’t incur new debt. Spend less on automobiles, dinners out and other expenses. Pay off credit cards and student loans as quickly as you can, so you’ll have more money available to pay toward your mortgage.
4. Make improvements. Keeping your home repaired and updated helps you preserve equity by making market value higher.
5. Let time work for you. Think of your home as a savings account where the money you put in can be retrieved one day – with interest. Historically, homes have increased in value as much as three percent a year in normal markets, which is a great way to build instant equity.