The coronavirus pandemic and the resulting "work from home, learn from home" paradigm have caused many who might have previously considered a second home here to shift to moving here as full-time or half-time residents. Probably the most apparent trend to emerge out of the pandemic is a growing interest among luxury real estate consumers to look for properties in attractive areas that are at least somewhat removed from major population centers. The Wasatch Back fits this bill perfectly and we are learning that buyers are seeking different types of properties due to COVID-19. For example, well-organized home offices with direct outdoor access, touchless appliances, larger in-home workout rooms - all have emerged as the new "must haves." Buyers also need better spaces for home schooling so homes with flex space are more attractive. Some consumers are even aware that copper finishes in public spaces make sense “because it doesn’t transfer any bacteria.” 

Adding to the urban flight are record low interest rates; we're hearing of 30-year fixed rates on certain loans below 3 percent! As a result of these factors, real estate along the Wasatch Back is very strong. Hopefully, the tips in this newsletter will help you achieve success in this marketplace.


From our bottom in mid-April we have seen the market continuously improve to now, where it is largely on par or better than last year's performance. This past week was no exception, with 81 new listings, 2 more than the same week in 2019. Closings this past week (57) well surpassed 2019 (47) by almost 20%. As with New Listings, Closings are following last year’s upward trajectory. We expect that trend to continue and to increase in velocity.

"The global pandemic has sparked many people
have been considering moving to Park City for years,
to finally take the step and to make their dreams come true."


With local real estate on target to match or exceed last year's activity, and new buyers coming in from all over, creating a new operating system with buyers making quick sight-unseen offers, that lends the question:

How can buyers compete in the tough market?
How can sellers maximize their potential?

Read on to get the top tips from our local KW team of experts in the field - we have more combined experience than any other brokerage in the area. 

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#1 - Get Pre-Qualified or have Proof of Funds

Now it’s absolutely crucial to get pre-approved to show sellers you’re serious when making an offer, particularly because you are likely to have competition. Multiple offers are part of our new normal. A pre-approval from a local lender shows the seller that you’re financially capable of buying a home. If you're a cash buyer, have your bank or financial advisor ready to provide a proof of funds letter to sellers to submit with your offer. 

#2 - Buyers: Be Prepared to Write Many Offers
          Sellers & Buyers:  Be Ready for Multiple-Offer Situations


With the market as heated as it is, we anticipate continued need for buyers to be prepared for competitive, multiple-offer situations. Buyers should be ready with their strategy, pricing, and terms mapped out so they can be responsive when these situations arise. This is essential to success, as timelines are typically very short.

The ins and outs of multiple offer situations can be challenging; however, we are here to advise you on tactics in these situations. We will explain what to expect and share our recommendations for how to succeed based on your situation. 

#3 - Be Available and Responsive!

Real estate moves fast, and with multiple offer situations becoming more common, buyers must be ready to sign documents and respond quickly to changes in terms. During these negotiations, it's critical that you make all parties to the transaction available and make sure you're able to receive email and text alerts. Time is of the essence!

#4 - Inventory is Low, Your Offer Shouldn't Be

This is probably not the time to be looking for a "deal." Coming into this pandemic, many investors anticipated price drops. While this may have occurred in other parts of the country, it is not our reality along the Wasatch Back. Due to the high level of competition for inventory, low offers will likely not even receive a counteroffer in many instances. 

#5 - Make Sure You're Really Ready to Buy

Be sure you're really ready to buy. If you are, you'll want to hit the points above and enter this market in a highly engaged manner. Delays and uncertainty will not serve you well and could keep your foot out of the door of your dream home. 

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#1 - Choose the Right Real Estate Agent!

Choose an agent that can provide buyers with the things they're looking for most in today's market. Here are some features that buyers find most helpful in a home search that we can provide for you:

  • The ability to take a virtual tour or walk through of the home
  • Listing and neighborhood information that is accurate and detailed
  • Plentiful, high-quality listing photos that show the property's interior and exterior
  • Access to all the digital tools to ensure a smooth, electronic transaction

#2 - Visit Competitive Properties & Price Your Home Correctly

This is where a licensed agent is highly important. We have the ability to produce a highly customized report on what similar homes in your area are selling for, how many days they are on the market, and what their list price vs their sales price is. All of this information will help you sell your home according to your own personal wants and needs. 

#3 - Keep Your Home Spotless & Appealing

To make sure your home is at the top of potential buyers' lists, we recommend keeping your house spotless. Live like you're in a model home, with no surface clutter, and keep personal decor to a minimum. If advised, consider investing in professional staging which can be a worthwhile investment. Many buyers will be utilizing zoom walkthroughs with their agents - a spotless appearance will make for a more inviting virtual experience. Make sure that the exterior curb appeal is on point as well - a tidy exterior and fresh flowers work wonders!

#4 - Identify Your Replacement Home Sooner Rather Than Later

If you are relocating within any of the towns that comprise the Wasatch Back, it's best to identify and even secure your replacement property if you have the means.  Some of today's buyers are armed with cash and are looking to relocate quickly. Your ability to move quickly, if needed, can be a real advantage. 

#5 - Do you need a contingency on the sale of your current home?

How do you buy that new dream home without being saddled with your existing home’s mortgage? We can help you put your home on the market and navigate the tricky waters of how to buy a house contingent on selling yours. Proper competitive pricing and staging of your existing home will be essential to succeed with a contingent sale. 

#6 - Don't Delay on Getting Your Home on the Market

List your home now. There are buyers waiting in the wings. Don't delay! 

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There are so many great reasons to settle down in and around Park City and Heber/Midway/Kamas. Check out some of the outstanding homes below - the best of the Park City Lifestyle!
199 White Pine Canyon Rd  |  The Colony  |  Canyons Village
6 beds  |  8 baths |  10,020 sq ft  |  4.26 acres  |  $9,500,000

Why it's great for quarantining:
  • Ski-in/ski-out luxury estate at Park City Resort in The Colony
  • Hiking and biking steps from your door
  • Large home office
  • Hot tub and sauna
  • Wine room
  • Lower level walkout family room with large wet bar and outdoor seating
  • Many decks and patios for enjoying the outdoors and views

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9734 Over Hill Road  |  Silver Creek Estates
5 beds  |  7 baths |  7,708 sq ft  |  9.27 acres  |  $4,399,000

Why it's great for quarantining:
  • 9.27 acres of privacy yet close to everything
  • 5 minutes to the freeway, open space and trails nearby in Red Hawk
  • Horses and barn allowed 
  • Short bike ride to Flying Dog ( everybody's fave)
  • No HOA
  • Easy to go off grid - on well, with septic, only need to add solar and can be off grid
  • Easy to add a pool if desired
  • Ideal for stargazing - dark skies to the north, BIG views of all 3 ski resorts

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Big Moose Yacht Club  | 657 Park Ave  |  Old Town
3 beds  |  5 baths |  3,750 sq ft  |  $4,100,000

Why it's great for quarantining:
  • In the heart of Old Town
  • Walking distance to skiing, trails, entertainment
  • Unique zoning allows for different uses and rental income opportunities

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Arrowhead Trail #9 and #10 | Tuhaye
3121 Arrowhead Trail #9  |  3 beds  |  4 baths |  3,494 sq ft  |  0.12 acres  |  $3,000,000
3123 Arrowhead Trail #10  |  4 beds  |  4 baths |  3,460 sq ft  |  0.12 acres  |  $2,375,000

Why it's great for quarantining:
  • Seamless indoor-outdoor living with glass retractable walls allowing you to enjoy the beauty of nature from your own home
  • Gorgeous views looking up the Tuhaye golf course out to Deer Valley ski runs
  • Abundant amenities include with the Tuhaye and Talisker Club membership: multiple clubhouses, swimming pools, golf, tennis, water skiing, Alpine adventures and on-mountain ski-in, ski-out clubhouse and several restaurants for dining and recreating

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White Pine Canyon Village  |  Canyons Village
3 - 4 beds  |  3 - 4 baths  |  1,935+ sf  |  Priced from $1,397,000 

Why it's great for quarantining:
  • Located in the heart of Canyons Village for the best of winter skiing                              and summer hiking and biking
  • Close to shopping and dining
  • Brand new construction 
  • Minutes from Park City's Old Town and Main St

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5437 Upper Luge Lane #34  |  Bear Hollow
5 beds  |  6 baths |  3,574 sq ft  |  0.25 acres  |  $1,135,000

Why it's great for quarantining:
  • 5 en suite bedrooms and 2 levels of living space
  • Lower level would make for a beautiful home office with mountain views and walk out to a private covered patio
  • Large deck for more fresh air off the main level
  • Social distancing at the very top of Bear Hollow Village as it faces no houses from the front because it looks over open space
  • Hiking and biking trails connect to Bear Hollow Village which also includes outdoor pool, spa, fitness center and clubhouse

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1088 Abigail Drive  |  Kamas
4 beds  |  4 baths |  2,697 sq ft  |  0.03 acres  |  $685,000

Why it's great for quarantining:
  • 4 bedrooms + home office space
  • ZERO stoplights to the SLC Airport (great for telecommuters that need to travel)
  • Trail adjacent - you can access the trails at the Retreat and now all the Jordanelle trails are coming into play with Parkway nearly completed
  • Clean, updated, and affordable!

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If you want to build your new home tailored to your needs in this "new normal", careful selection of the lot and how it will accommodate your dream home is vital. Here are some great options: 

315 N Democrat Alley

5.45 acres  |  $285,000

Why it's great for quarantining:
  • Rural living on a hillside
  • Overlooking the Kamas Valley
  • Currently farmland and open space
  • Alpaca farm & cows grazing nearby
  • Park City only 13 miles away

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1735 Red Hawk Court

24.68 acres  |  $720,000

Why it's great for quarantining:
  • 24 acres in Ranches at Red Hawk
  • Escape to your own wildlife area
  • Front row seat to our ski run views
  • 30 minutes to the airport 

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1540 Snow Berry Street

6.63 acres  |  $1,299,000

Why it's great for quarantining:
  • Over 6 acres at the top of Glenwild
  • 180 degree mountain range/ski run views
  • 20 minutes to the airport
  • 10 minutes to the ski resorts
Images courtesy of Deer Valley Resort, Park City Mountain Resort, Park City Chamber of Commerce, and the restaurants featured in this newsletter.