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Utah Travel Headlines

Friday, February 01, 2013

Selling The Park City Dream

Might you be interested in a nice ski bungalow? There is one for sale in the Park City area for just $21.9 million. It is a cozy “Ski Dream House,” a 13,500-square-foot home owned by the vacation rental company Resorts West that has 6 bedrooms, 15 fireplaces, a ski bar and backdoor access to DeerValley ski slopes.

The home is described in this article in the New York Times. The article talks about the recovering Park City real estate market. The focus is on how the Sundance Film Festival is used as a marketing tool to get prospective buyers to come to the resort community. It includes interesting insights about the area, describing why it is a great destination for vacationers as well as vacation home buyers.

Below are excerpts from the article.

Where else can ski enthusiasts own a home with backdoor access to the slopes at a top-notch ski resort like Deer Valley? Not in Aspen, which is surrounded mostly by public land. The sense of exclusivity has drawn a bevy of movie moguls and celebs here to Park City, from Jeffrey Katzenberg to Will Smith, who have bought multimillion-dollar ski homes in the area.

“The last few years we had to beg to get people to come” during Sundance, Mr. Benson said. “Real estate wasn’t really a hot topic. But this year that has changed. The people are actually spending money to be here. They aren’t here because they had free tickets. They are looking at high-end homes. It is 2006 all over again.”

An eight-bedroom Park City ranch sold last week for $16 million to a dot-com billionaire from California. A 63-acre estate owned by Jon Huntsman Sr., the richest man in Utah, has an interested buyer after being listed for $44 million, the highest asking price ever in Utah, said Paul Benson, a broker with Sotheby’s in Park City. A giant ski cabin that Mr. Katzenberg, the DreamWorks co-founder, commissioned some 20 years ago and used to entertain friends like Bill and Hillary Rodham Clinton, is on the market for $20.5 million.

There is even talk from the president of Deer Valley Resort of putting in a gondola chair lift on Main Street that would give direct access to Deer Valley from downtown.

Read the entire article.

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