Tuhaye - Talisker
The creation of a pure golf and ski community amid one of the American West's most coveted natural playgrounds. It's a protected haven of exquisite homes and homesites for 600 fortunate families. An all-season sanctuary close to Deer Valley® ski mountains, the Jordanelle Reservoir and historic Park City. Within the 10,000-acre embrace of the all-inclusive Talisker Club, Tuhaye is creating a rich and fulfilling way of life that offers each generation adventure, new experiences and transcendent beauty -- season after season, year after year.
Quick Facts
Total Units: Approximately 600 homesites
Location: Nine miles east of Park City beside the Jordanelle Reservoir overlooking Deer Valley Ski Area, Mt Timpanogogs and the Wasatch Mountains
Property Type: Luxury Single Family Homes and Homesites in a golf community
Location
Talisker has assembled nearly 10,000 acres of land located in the greater Park City area and is now developing two resort communities. The initial community, Tuhaye is a 2,000 acre golf community located nine miles east of Park City. Talisker's second community, Empire Pass is a 1,600 acre ski community located along the slopes of Deer Valley ski resort.
Amenities
Talisker is planning and building numerous amenities in each of its communities for the use and enjoyment by members. A community is more than a collection of houses -- it needs a center. At Tuhaye Park, the traditional golf clubhouse is reinterpreted as a group of pavilions to give center stage to the remarkable landscape and spectacular views. Six buildings, featuring generous porches and overhanging eaves, stone and wood finishes and large windows, will define a park with native plants and meandering footpaths that offer recreation and relaxation. Tuhaye Park will be a focus, an intimate setting for family life.
Click Here to View Some of the Properties for Sale in Tuhaye
*This information is subject to change without notice. Buyer is responsible to verify the accuracy of all information to the Buyers own satisfaction.
Western Mountain Resorts First Quarter Sales 2010
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| ASPEN*** | WHISTLER* | PARK CITY** | STEAMBOAT | SUMMIT CO | SUN VALLEY** | TELLURIDE | TETON** | VAIL | McCALL** | GRAND CO | ||
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Active Listings |
Homes | 168 | 927 | 470 | 505 | 470 | 132 | 260 | 697 | 492 | 848 | |
| Condos | 571 | 791 | 413 | 873 | 380 | 253 | 173 | 791 | 133 | 485 | ||
| Land | 102 | 850 | 736 | 347 | 290 | 147 | 222 | 283 | 1,154 | 832 | ||
| Other | 92 | 135 | 504 | 271 | 154 | 112 | 56 | 411 | 93 | 96 | ||
| Total | 932 | 2,703 | 2,123 | 1,996 | 1,294 | 644 | 711 | 2,182 | 1,872 | 2,261 | ||
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Units Sold |
Homes | 22 | 114 | 29 | 68 | 36 | 12 | 25 | 70 | 72 | 37 | |
| Condos | 41 | 133 | 33 | 91 | 31 | 23 | 18 | 145 | 14 | 33 | ||
| Land | 3 | 46 | 11 | 15 | 7 | 4 | 4 | 13 | 37 | 14 | ||
| Other | 13 | 8 | 33 | 14 | 3 | 19 | 2 | 17 | 2 | 0 | ||
| Total | 79 | 301 | 106 | 188 | 77 | 58 | 49 | 245 | 125 | 84 | ||
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Total Volume Sold |
Homes | $34,067,000 | $124,604,450 | $21,152,250 | $50,301,222 | $25,970,081 | $39,960,000 | $52,587,750 | $136,826,900 | $18,285,477 | $14,202,375 | |
| Condos | $27,654,000 | $152,500,289 | $19,707,920 | $31,952,569 | $17,345,800 | $25,914,500 | $22,124,100 | $135,220,334 | $1,829,344 | $6,473,065 | ||
| Land | $2,970,000 | $13,894,910 | $7,675,600 | $8,078,025 | $5,084,000 | $1,980,000 | $2,650,000 | $3,509,000 | $2,119,743 | $1,930,450 | ||
| Other | $2,005,500 | $685,900 | $14,907,725 | $479,500 | $474,000 | $3,897,000 | $575,000 | $23,724,500 | $512,000 | $0 | ||
| Total | $0 | $66,696,500 | $291,685,549 | $63,443,495 | $90,811,416 | $48,873,881 | $71,751,500 | $77,936,850 | $299,280,734 | $22,746,564 | $22,605,890 | |
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Average Sale Price |
Homes | $1,548,500 | $1,093,021 | $729,388 | $739,725 | $721,391 | $3,330,000 | $2,103,510 | $1,954,670 | $253,965 | $383,848 | |
| Condos | $674,488 | $1,146,619 | $597,210 | $351,127 | $559,542 | $1,126,717 | $1,229,117 | $932,554 | $130,667 | $196,153 | ||
| Land | $990,000 | $302,063 | $697,782 | $538,535 | $726,286 | $495,000 | $662,500 | $269,923 | $57,290 | $137,889 | ||
| Other | $154,269 | $85,738 | $451,749 | $34,250 | $158,000 | $205,105 | $287,500 | $1,395,559 | $256,000 | $0 | ||
| Total | $0 | $844,259 | $969,055 | $598,524 | $483,039 | $834,726 | $1,237,095 | $1,590,548 | $1,221,554 | $181,973 | $269,118 |
* In Canadian dollars
** Disclosure: Undisclosed sales are reported at 95% of list price
For More Information on Park City and Deer Valley Homes Contact:
Michael Lapay
Prudential Utah Real Estate
Mobile: 435-640-5700
Toll Free: 888-410-7653
mlapay@pureparkcityrealestate.com
http://www.pureparkcityrealestate.com/00ABFD
End of Home Buyer Tax Credit
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First Quarter Stats for the Park City Board of Realtors
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| Period | Type | Average Price | Median Price |
| 1st Q 2009 | All | $878,169 | $409,500 |
| 1st Q 2010 | All | $932,531 | $432,000 |
| 1st Q 2009 | Single Family | $1,223,644 | $507,500 |
| 1st Q 2010 | Single Family | $1,035,945 | $525,000 |
| 1st Q 2009 | Condos | $617,379 | $429,691 |
| 1st Q 2010 | Condos | $1,151,782 | $650,545 |
| 1st Q 2009 | Vacant Land | $1,056,557 | $475,000 |
| *Note: Only 14 sales of vacant land in 1st Quarter in 2009 | |||
| 1st Q 2010 | Vacant Land | $304,147 | $275,000 |
First Quarter Stats by Area:
Area
Type
Number of Sales
$ Volume
Median Price
City Limits
Single Family
32
$58,341,000
$1,450,000
Condos
79
$128,851,203
$1,285,000
Snyderville Basin
Single Family
47
$52,428,850
$664,050
Condos
47
$21,556,506
$358,000
Heber Valley
Single Family
23
$7,500,400
$310,000
Distribution of sales has shifted slightly from year-end figures for 2009. At the end of 2009 sales of Single Family Homes, as a percentage of volume was 56% and condo sales were only 39% of the market. For the 1st Quarter of 2010 single family home sales were 44% for the market, while condo sales were 51% of the market. We expect those numbers to flip-flop by years' end and expect single family home sales will remain the strongest part of the market.
Vacant land sales in the 1st quarter fo 2010 were still a small part of the total at about 5%.
Inventory levels have remained fairly stable since the fourth quarter of 2009 and have remained below 3000 units for the year so far (about 2775 units on the market right now excluding commercial properties). This compares to about 3500 units on the market a year ago.
Point Two Comparing the 12 Months Ending March 31st vs the Previous 12 Months Ending on March 31st, 2009
(April 1st, 2009 thru March 31st, 2010 vs April 1st, 2008 thru March 31st, 2009)
| Type | Time Period | $ Volume | % Change | Number of Sales | % Change | Meidan Price | % Change | |
| All | 4/1/08 - 3/31/09 | $856,499,555 | 1127 | $450,000 | ||||
| 4/1/09 - 3/31/10 | $992,274,180 | +15.85 | 1249 | +10.82 | $425,000 | -5.55 | ||
| Single Family | 4/1/08 - 3/31/09 | $444,110,619 | 454 | $590,000 | ||||
| 4/1/09 - 3/31/10 | $504,337,705 | +13.56 | 551 | +21.37 | $500,000 | -15.25 | ||
| Condos | 4/1/08 - 3/31/09 | $314,580,956 | 408 | $465,000 | ||||
| 4/1/09 - 3/31/10 | $418,709,415 | +33.10 | 466 | +14.22 | $436,953 | -6.03 | ||
| Vacant Land | 4/1/08 - 3/31/09 | $73,154,329 | 154 | $365,000 | ||||
| 4/1/09 - 3/31/10 | $63,115,600 | -13.72 | 158 | +2.60 | $342,500 | -6.16 |
When viewing the last twelve months versus the previous twelve months, in general total dollar volume is up, number os sales is up and median price is down.
Point Three Points of Interest for Our Market
We Have Had Three Straight Quarters of Improved Sales
| Time Period | Number of Sales | Total Sales Volume | Median Price |
| 3rd Q 2009 | 337 | $251,660,296 | $415,000 |
| 4th Q 2009 | 360 | $289,714,222 | $422,500 |
| 1st Q 2010 | 325 | $300,664,922 | $437,00 |
The top of our market in terms of price (using 12 months of data) for all property types in all areas was for the time period 12/1/2006 thru 11/30/2007 when the median price was $559,500. For the 12 months ending March 31st, 2010, the median price for all property types in all areas was $425,000, a 24% decrease.
Median sales price for a single family home in Park City in the year ending March 31st, 2010 was $1,352,500 which is slightly down from year end 2009 ($1,385,000) and down about 27% from the year ending March 31st, 2009, which was the peak of the market (median home price of $1,850,000).
Median sales price for a single family home in the Snyderville Basin for the year ending on March 31st, 2010 is $651,750, which is down about 6% from the previous year figure of $692,500 for the year ending on March 31st, 2009.
The Heber Valley median home price was $305,000 for the year ending March 31st, 2010, down about 10.5% from $341,000 for the previous year total.
The Kamas Valley also saw a decrease for the year ending on March 31st, 2010 with a median price of $275,000, down about 26% from the year end March 31st, 2009 price of $369,900.
The median price of a condo inside Park City limits for the year ending March 31st, 2010 was $925,000, up 20% from $735,000 for the year ending March 31st, 2009.
Median price for a condo in the Snyderville Basin for the year ending March 31st, 2010 is $329,450, down 15% from $388,000 for the year ending March 31st, 2009.
Looking at just the ski season (December 1st thru March 31st), in the ski season of 2007 - 2008, 340 properties sold in the greater Park City area. In the 2008 - 2009 ski season 156 properties sold in the same area. For the ski season that just ended (2009 - 2010), 344 properties sold in the same area.
Point Four Where We Stand Now
The Park City Board of Realtors reported a strong third and fourth quarter in 2009, compared to the first half of that year and the end of 2008. The first quarter of 2010 continues to trend with an increased closed sales dollar volume and continued steady numbers of sales.
National housing statistics presentd by the National Association of Realtors and independently by the Case-Schiller Index point to flattening home values (home prices no longer declining wiht some localized price increases). Economists have indicated the great recession ended sometime last summer, and the stock market has risen about 50% since it's low point last March.
Locally, the bottom of the real estate market in terms of number of sales was in February 2009. In looking at the first quarter stats and the rolling 12 month average for pricing, it appears that the Park City real estate market has also bottomed out in terms of pricing. Prices have not yet started to rise but on average prices have stopped declining.
Prices today are on average about 20 - 30% lower than they were at their peak, which was in late 2007 and early 2008. It should be noted that prices on individual properties or in specific neighborhoods may not be off by as much as the numbers above, while at the same time prices for some properties and for some areas are now much lower than the 30% decline mentioned above.
As for distressed properties, Notice of Defaults (NODs, which are precursors of a foreclosure) and Foreclosures are down from previous quarters. In Summit County the peak activity for NODs was the third quarter of 2009, while peak activity for foreclosures was the fourth quarter of 2009. In Wasatch County the NOD activity peaked in the first quarter of 2009, while foreclosures peaked in the third and fourth quarters of 2009. It is too soon to tell if this trend will continue or if foreclosure activity will again rise.
Point Four Looking Forward
Continued buyer activity appears likely as prices will continue to remain low for the foreseeable future. Interest reates are also quite low, so area property is more affordable than it has been for a number of years. Foreclosure activity will continue, although probably at lower rates than what we have recently seen. For the near term inventory levels will remain stable and buyers will continue to have many choices.
One of the reasons there will remain higher levels of properties for sale is that there is probably a sizable "shadow inventory" of properties that will continue to come on the market, keeping those inventory levels high. Foreclosure activity along with the higher inventory levels will keep prices from rising much this year, although by year's end we feel that we will have some price appreciation.
For sellers, pricing is still the most important aspect of getting their property sold. Correctly priced properties have a good chance of selling, while properties that are priced just a little high for the market will sit.
Projections at this point for the year indicate that we should see sales dollar volume over $1 billion again. The number of sales should top 1300. Both of these numbers would be about a 15+% improvement over 2009, and should be in line with 2008 figures. Prices could rise in the low single digit range.
For More Information on Park City and Deer Valley Homes Contact:
Michael Lapay
Prudential Utah Real Estate
Mobile: 435-640-5700
Toll Free: 888-410-7653
mlapay@pureparkcityrealestate.com
http://www.pureparkcityrealestate.com/00AAC7
Exclusive Tuhaye Park City Homesite - Offered at $692,500!
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Located at 2180 East Slingshot Way (MLS #9973256), this spectacularly located gem is located as part of the coveted Talisker Club, which offers an incredible opportunity to enjoy a myriad of social and recreational opportunities. 
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