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Show ? | ~The Dog Days of Summer ; ' | 1996 CANYONS REAL ESTATE SALES FOR THE 1995-1996 SEASON BY ALEX MILLER | ‘During the 1995/1996 ski season and so far into the summer, the real estate market in Big and Little _ Cottonwood Canyons has continued to be very strong. In Little Cottonwood Canyon values continue to rise as available inventory continues to fall. In Big Cottonwood Canyon where the new Solitude Resort Village promises to bring as many as 150 or more condominiums to market, values, as indicated by early sales in the resort’s gorgeous Creekside Lodge, started high and will go higher. ) It seems that the Wasatch front is a particularly good place to invest at the moment. Of course there is the minor consideration that you needed an average of $250,000 to buy a condominium in either one of the canyons in the past year. As of this writing many of the properties in the $250,000 range are gone and an investor can now look forward to spend_ ing $350,000 and up to get in Big Cottonwood Canyon, and as much as $450,000 to get into Little Cottonwood Canyon. | These averages are very broad so I will sort them out in the following paragraphs. However, they do correctly indicate a very definite up trend in the value of properties in both Big and Little Cottonwood canyons. - 7 : | are selling at a substantial discount to average prices in the canyon and they enjoy a terrific location, these lodges are real values. The market seems to agree. In the past three years listings in these lodges have dwindled from nine availabilities in each lodge to two listings in the Lodge at Snowbird and two listings at The Inn. | On the lower end of the price spectrum, an occasional listing at Hellgate condominiums offers a buyer the possibility of a two bedroom condominium of between 1200 and 1400 square feet for between “Big Cottonwood Canyon still offers hope for mere mortals” | $150,000 and $200,000. Alas, there are no current listings. The Hellgate has great views but it also has intermittent access problems in the winter. Big Cottonwood canyon still offers hope for mere mortals. Certainly the new Solitude Resort Village development offers deluxe units at deluxe prices, but there is still the occasional lot of land in the canyon for the ~ $100,000 to $125,000 and a very occasional older Some examples of sales in the past calendar year include a sale in the prestigious The View condominiums in Alta. A two bedroom condominium in this property, whose name indicates its principle _ virtue, but which is also one of the purest “ski in / ski out” properties in the Snowbird/Alta area, recently sold for $500,000. This pencils out to a startling $335 _ ‘per square foot. There are currently no availabilities in this project but it is certain that subsequent pricing should be in the same neighborhood. This represents home for around $150,000. However, things are changing rapidly in Big Cottonwood Canyon. af _ while a three bedroom unit sold for $500,000. Current listings in this 40 condominium project are limited to two properties: a three bedroom residence of about 1950 square feet for $580,000 and a four bedroom free standing condominium of about 2400 square feet for $695,000. There is a very limited amount of land available in Little Cottonwood Canyon. In the last year, two parcels of about one third acre each sold at the Powder Ridge develop_ ment for $300,000. The Powder Ridge development is located at the base of Westward Ho ski run. While there is no more land available at Powder Ridge there are some condominiums available on a pre-sale basis. I’ve seen the plans and they’re gorgeous. The only other lot currently listed in the canyon is three quarters of an acre by the Hellgate condominiums. It enjoys over 300 feet of frontage on Little Cottonwood Creek and at $250,000 it is one of the least expensive ways to get into the canyon. The lot - located right in the ‘Canyon have sold or are under contract. A large 3000 square foot plus private home recently sold for $490,000 and another home, a little smaller, has sold for $390,000. | Even though there is currently a scarcity of listed properties in Big Cottonwood Canyon, it contains over a thousand private homes of various descriptions (scabrous to surpassingly elegant) so there is a broader range of prices. Two companies in that canyon keep a close eye on availabilities: Canyon Properties at 596-0406 and Solitude Real Estate at 536-5704. 7 3 As far as this reporter can ascertain, the market is strong and well Olympic supported. The coming people’s willingness to invest in Utah ski properties, but it hasn’t really pushed the prices up. More important factors include: Salt Lake City’s over all growth, reasonable interest rates, improved rents and sheer lack of inventory. Even at current prices properties in either of these canyons do not seemed over priced for the market. Lack of inventory is testimony to this fact. | higher price anda shorter turn around time. the Creekside’s fabulous units at the location at the bottom of Solitude’s Apex chair and the amenities — which include, among other things, an on site restau‘rant and underground heated parking these prices _ seem absolutely reasonable. Future plans for the _ For the aspiring real estate investor of moderate means the market can be summed up by a paraphrase of a noted real estate speculator and occasional novelist, “It was the best of times, it was the worst of times” FOOTHILL P-a€@areess QR vy BM Do You Dreamor.. © Leading the pack while biking the Wasatch Crest Trail? hm ° Skiing High Rustler, or Boarding Great Scott, non-stop, , from top to bottom?* Running the Salt Lake Classic? MAKE YOUR DREAM A REALITY How? nt With Personal Training. Personal Training is just that; an individualized program oe ain to meet_your needs. Kathleen Leopardi can help assess your needs, and Ei SOON AL TRATNINICS| motivate you to stick with a progressive program. | Kathleen Leopardi holds a BS in Exercise and Sport Science from the University of Utah. She is certified with the American College of Sports Medicine, and is also a Certified Strength Conditioning Specialist. Kathleen specializes in cardiovascular fitness, weight loss/gain, and weight training. GROUP CROSS TRAINING CLASSES ) | Throughout the last two years, Kathleen has been teaching cross training classes two nights a week. The group eo Classes are taught two evenings a week for | 1/2 hours. Classes include aerobic, and anaerobic exercises, using weight training and flexibility to get an overall body workout. Come join the fun and get fit for your favorite seasonal activitities KATHLEEN LEOPARDI FOOTHILL PERSONAL TRAINING 80]-484-2828 of the best values in the Snowbird resort center, have recently sold at prices from $213,000 to $337,500 for one and two bedroom units. Inasmuch as these units of the games has had a noticeable effect in Given Lest you throw your hands up in despair it should canyon right know are substantially less pricey. The Lodge at Snowbird and The Inn at Snowbird, both : Creekside Lodge sold for between $359,00 and $364,000 and a one bedroom unit sold for $248,000. bedroom does have some winter access issues. be pointed out that some the centerpiece of one of Utah’s most desirable vaca- tion enclaves. tis At least two private homes in Big Cottonwood In short prices are high but they seem to be headed higher at a fairly steady rate of 6-8% a year. In this market premium properties enjoy both a_ In the last year two the high end of pricing in Little Cottonwood Canyon. ‘Another long time favorite in the canyon is The Village at Sugarplum. These town house style condo- | miniums always sell well. The sale of a two bedroom unit in this project sold in the past year for $400,000 Solitude Resort Village promise to make this lodge hhen 4€ matters! \-Kathleen Leopards Page 11 SUS Siomelcom Call 801-484-2828 to book a FREE personal training session with Kathleen. Experience a structured exercise program designed specifically for YOU!!! ly | |
