Park City, Utah is nestled in the Wasatch Mountains, this community offers all the benefits of resort living, with conveniences and opportunities of a metropolitain city. The town sits at 7,000 feet above sea level and is a short 30 minute drive to Salt Lake City International Airport, allowing us to remain one of the only resort destinations worldwide that can provide such advantages.
Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.
Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.
Interest Rates Are Super Low – Is Now the Perfect Time to ‘Flip’ a House?
With interest rates at an all-time low and houses flying off the market at record rates, is it a good time to get into real estate investing? A fix-and-flip property can be a good foray for first-time investors who don’t want to deal with property management or being a landlord.
While real estate investing (or REI) may be less risky than, say, day-trading meme stocks, it could be a challenging time for first-time investors to enter the market.
I feel that this is actually a very risky time for a first-time real estate investor to flip. Flips are selling for more now, but substantially fewer homes are being flipped because the market is so tight and bargains are extremely difficult to find.
In my opinion, it’s an incredibly dangerous time for home flippers. The market is crazy hot, and the opportunities to buy homes at a price that makes financial sense are limited.
Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.
Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.
Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.
Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.
According to 2021 National Association of Realtors data, there was a 244.5% year-over-year increase in the number of home sales in the United States priced above $1 million in May.
For more trends and stats, view our 2021 "A Look At Wealth” luxury real estate market report!
While Park City is most often thought of as a ski destination, its off-slope activities are plentiful. For when you want to give your ski legs a break, or just try something new, consider the following:
November 2021 Statistics for Single Family Homes in Park City Proper (84060)
November 2021 Statistics for Condos/Townhomes in Park City Limits (84060)
“All real estate is local” has never been truer than now. Pricing, availability, and demand vary widely from neighborhood to neighborhood, reinforcing the need for a local REALTOR to buyers through the jungle of competing bids and rising prices. We offer a full-service real estate brokerage to help you buy and sell in the Park City and Deer Valley luxury communities.
Call or text me today for more information: +1 (435) 602-8228
According to Coldwell Banker’s recent survey, 45% of Gen Z & Millennials are likely to say owning a home is an important financial goal for them. Check out our other survey findings!
_____________________________________________
View Magazine
The latest edition of the View Magazine is online and in print!
Check out the hottest homes on the market throughout Utah today!
Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.
Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.
Housing Market Settling into New Normal (YEAR IN REVIEW)
Monthly home value growth slowed further in October, on the heels of monthly slowdowns in September and August, continuing to bring the astronomical pace of growth down from its record highs earlier in the summer.
The Home Value rose 1.3% from September, to now $312,728, up 19.2% from October 2020 level. The annual growth represents an all-time high in data dating back more than 20 years, and the monthly pace is higher than at any point recorded prior to the pandemic — but is still down notably from the recent high of 2% set in July. The average October monthly appreciation in the U.S. from 2015 through 2019 was 0.4%. In other words, even as the market cools, it is cooling off from an exceptionally hot starting temperature.
Home values didn’t drop in any of the 50 largest U.S. metros, but monthly home value growth decelerated in 42 of them. The slowest monthly growth was seen in Milwaukee (0.1%), San Francisco (0.3%), Buffalo (0.3%), and St. Louis (0.4%), while the fastest was in Raleigh (2.7%), Nashville (2.4%), and Atlanta (2.3%). Still, even as the overall slowdown in the market continued, October also provided early indications that the slowdown in home value growth is itself slowing down: the decline in monthly growth was slightly smaller than the decline recorded in September from August.
Housing Market Settling into New Normal (October 2021 Market Update)
I am currently working on an update for the third quarter of 2021 real estate in Park City. At first glance, I am seeing many neighborhoods of Park City increasing in the number of transactions and total volume sold. There are areas that have dropped significantly as well because we are at record lows for inventory.
The areas of Empire Pass, Silver Creek, and the golf course communities just don't have many options available on the market which naturally slows sales. But we'll see the overall volume climb as prices have increased. Park City currently has 72 single-family homes on the market that are built and we had 797 sales in the past year. 797 sales divided by 12 months give us 66 sales per month, which is 1.09 months of inventory. The lack of homes and condos for sale in Park City is choking out the market which will lead to real estate stats that don't tell the full story.
As far as I see the market is still hot and if a property hits the market you need to be able to act fast. This means knowing where you want to be, having all your lending lined up, and if a specific property will work for you.
Give me a call to discuss the different neighborhoods in the Park City area so I can narrow down your search and help get your up to speed on the areas that will work best for you.
Need More Information? Call or Text Me Today (435) 602-8228
Playing Catch-up: Putting the Recent Home Building "Boom" in Context
The number of homes listed for sale in America ticked down in October, marking the end of 2021’s modest inventory rebound that began in May and leaving current levels down by more than a third from pre-pandemic norms. But how did we get here? Why are there so few homes available to buy, even as homebuilders seem to currently be firing on all cylinders to develop and sell more homes?
More than 1.5 million residential building permits were issued between February 2020 and February 2021 — a benchmark level of housing construction surpassed in every building boom since the 1970s. The problem is that after permit activity bottomed out in 2009 at the depths of the housing crisis, it took more than 11 years to get back to that threshold. The new home construction market today very much remains in catch-up mode, recovering from a decline that was both much steeper and took longer to come out of than in any previous construction cycle.
Total residential permit activity has continued to grow dramatically throughout the past 18 months — hitting a new post-Great Recession peak of 1,687,300 permits issued in the 12 months from August 2020 through August 2021 — leading some to wonder if builders are actually creating a new glut of housing. But this year’s pace of homebuilding represents only the first full year of above-trend construction in 11-plus years, and in truth, builders are only just beginning to meet the housing deficit and feed housing demand that has only been growing since the end of the Great Recession.
Give me a call to discuss the different neighborhoods in the Park City area so we can narrow down your search and help get you up to speed on the areas that will work best for you to live in or have a second home.
