Park City Talk 
Foreign Nationals looking to buy with borrowed money
Sunday, April 25th, 2010 at 11:15pm. 77 Views, 0 Comments.
The first step is to obtain or show evidence of the appropriate visa (see attached).
Wells Fargo can lend to foreign nationals; albeit, it is a challenge. First, it is a minimum of 40% down. Second, there must be a complete credit package including a credit report showing at least 4 lines of credit being paid consistently for a minimum of 12 months. This can usually be accomplished with bank statements with housing expenses, car payments, credit card payments, etc. Assets are easy, unless it requires an interpreter. Income must be documented by a letter from an employer as well as the pay stubs. Self employed buyers are no longer allowed. Contact me for a direct contact with a lender in Park City to get you started in buying property here as a…
Legal issues with Short Sales and Foreclosures
Friday, April 16th, 2010 at 12:51pm. 100 Views, 1 Comments.
I'm typing as I sit in a class at the Park City Board of Realtors 4-16-10. Utah is shown on a few websites as being a non-recourse State for deficiencies in foreclosure. The fact is, they have 90 days to file against you for the deficiency.
Talisker (owner of the Canyons) buys a hotel
Monday, March 29th, 2010 at 7:21pm. 63 Views, 0 Comments.
March 29, 2010 Talisker Expands with Purchase of The Waldorf Astoria Hotel at The Canyons Toronto – Talisker announced today its purchase of Park City’s newest luxury hotel, The Waldorf Astoria, Park City, located at The Canyons. The Waldorf Astoria, Park City, opened last summer at the foot of Talisker’s ski resort, The Canyons. The hotel includes 170 rooms and condominium units, dining at Spruce, as well as the Golden Door Spa which offers an exquisite menu of services available to hotel guests and the community alike. “We are proud to add this wonderful and complementary asset to the Talisker and Canyons properties in Park City”, said Jack Bistricer Chairman and CEO of Talisker. “The Waldorf Astoria, integrated into The Canyons Resort, will expand The…
$40 Million in one week?
Monday, March 1st, 2010 at 5:44pm. 85 Views, 0 Comments.
$40MM worth of properties went under contract in just one week here at Prudential. Those are the kind of numbers I like to start March off with!
Silver Strike post auction pricing
Thursday, February 18th, 2010 at 1:07pm. 94 Views, 0 Comments.
Silver Strike Lodge
Post President’s Day Sales Program
February 18, 2010
Unit # Current Prices Square foot March 1, 2010 * Sq. Foot
301 $1,835,000 $796 $1,885,000 $818
302 $1,780,000 $777 $1,830,000 $799
307 $1,765,000 $800 $1,815,000 $823
402 $1,800,000 $786 $1,850,000 $808
704 ** $1,957,000 $787 $2,007,000 $806
Note: For units Under Contract by March 1, 2010 with a Due Diligence Period ending March 1, 2010 a $25,000 credit toward closing costs and future HOA Dues will be available. * Reflects $50,000 price increase on March 1, 2010. ** Price includes a fully…
Silver Strike Auction results Deer Valley
Friday, January 22nd, 2010 at 11:09pm. 145 Views, 0 Comments.
The Silver Strike Auction is of course the big news in Park City real estate, and the good news is that it was a great success. The developer of Silver Strike made the decision to auction off 8 of their new luxury ski-in/ski-out condominiums in an effort to jump start the market. If you have been in town these last 4 weeks you probably noticed the "AUCTION" open house signs as everyone did - has been the talk of the town in the real estate community. All the open houses, and the extensive advertising led up to last Sunday night's auction event, held at Stein Eriksen Lodge. It only took about a half hour to sell all 8 units offered for the event, and each unit sold for well above the auction's lowest set prices. In fact, on each unit, the bidding went…
30 year Canyons Ski Pass $5000
Monday, January 4th, 2010 at 5:02pm. 142 Views, 0 Comments.
Canyons Ski Area offering 30-year ski pass
Paul Foy of the Associated Press reported on the first of January that the Canyons ski area is offering a limited number of 30-year ski passes in an unusual deal tied to real-estate development.Owners and buyers at Escala at The Canyons resort are being offered the chance to buy two of the passes for $5,000 apiece.
That's a notable and rare deal for any major ski area. It works out to $166 a year -- and condo owners can lend the pass to anybody they authorize, unlike terms of regular season passes.
The condo passes stay with the real estate.
The Canyons, which normally charges $1,099 for one season's pass, won't collect any of the money from the sale of the $5,000 passes and is honoring an agreement made by former…
Linked In and Facebook for Real Estate?
Sunday, January 3rd, 2010 at 9:04pm. 107 Views, 0 Comments.
Well I'm curious to see if some of you respond back on this topic. Realtors are being 'educated' to use 'Web 2.0' to expand their sales and referral network. You can find me on Linked In at:
http://www.linkedin.com/in/richfine
But...a professional site where I communicate with clients and business associates is not seeming to be a source for NEW leads for me. Linked In is more of a way for me to stay in touch with others, not spam them for business.
So, Facebook... yes there is a Rich Fine FaceBook page. Again, not spamming my friends with Real Estate in Park City. Most of them live here already, and the others are living somewhere happily. If they come here, they know I'm in town.
Thoughts from the Social Networking crowd. Shoot me an email, I really…
Short Sales Guidelines Announced by FED
Wednesday, December 2nd, 2009 at 12:23pm. 134 Views, 0 Comments.
The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly. Park City should benefit from these rules.
To qualify under these new guidelines:
- The property must be the home owner’s principal residence.
- The home owner must be delinquent on the mortgage or close to defaulting.
- The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
- The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.
Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. Mortgage-servicing companies will get $1,000 for each completed short sale. Second-mortgage holders can receive up to $3,000 of the…
Park City Short Sales
Friday, September 25th, 2009 at 11:05am. 199 Views, 0 Comments.
This will be a three part topic... starting with education on what a Short Sale looks like in Park City. Park City and Deer Valley are affluent areas, even so, we are not immune to the economics surrounding housing.
I've created a site at www.ParkCityShortSale.com to get you a list of current Park City Short Sales from the Park City MLS and the Wasatch Front MLS. Short sales consist of a seller that owes more than the home will sell for in the current market. In a short sale, the seller has to qualify with the bank to get 'released' from some of the debt owed. That's why short sales take awhile.
Just offering full price on a short sale listing does not gaurantee you'll be the owner in a few weeks. Most short sales in Park City require a 3rd party…