Posted by Lynette Thorn on Wednesday, June 26th, 2013 at 1:10pm.
Right now, in the Park City and Deer Valley areas, property prices are rising, and inventory is starting to tighten. If you are a buyer, take a close look at your criteria; you may be able to tweak it to find plenty of new possibilities.
With your current list of criteria in hand, look at what has sold in the last two months. Have any properties sold that match what you are looking for? If not, your criteria might be unrealistic, and should be adjusted. The more detailed your criteria is, the fewer properties you will find that match it.
Here are five ways to tweak your search so that you have a net to throw out, and more chance to find the perfect place:
- Price. If you are searching for a property that specifically matches your ideal monthly payment, and very few properties are available in that range, you may need to adjust your search price. Have you spoken to a local lender and been pre-approved? You may be surprised and the price range he or she recommends. Also, remember that most every list price is negotiable, and properties in our area are selling for 95-98% of their list price. Adjust your price range accordingly.
- Neighborhood. Talk with your agent about your favorite neighborhoods to find out if there are neighborhoods with similar attributes that you might not know about.
- Bedrooms/Bathrooms. Are you searching for a condo with three bedrooms and two baths, but what you could really use are two bedrooms, two baths, and an office? Do you really need two full baths, or could one of them be a ¾ bathroom?
- New Construction vs. Established Building. Is your timeline flexible enough to allow you to purchase a buildable lot and construct a home to your specifications? This would enable you to have more of your personal criteria met. Conversely, are you narrowing your focus to only new construction, so you can have that new home feel? Many established homes have been recently remodeled, and can still give you that brand new sensation.
- Relocating with Unrealistic Ideas. Are you coming from a different climate, and looking in Park City for a home with a swimming pool, fruit trees/garden, or air conditioning? Keep in mind that certain criteria are regional, and our region might be very different than the one you are coming from.
If you adjust your search in just one or two areas, it can really broaden the pool of possibilities. You might find that if you take the time to review the specifics of what has recently sold, and what is currently available, there are many wonderful mountain properties to choose from in the Park City and Deer Valley areas.
Click here if you are a buyer ready to clarify your search. It will take you to our Smart Buyer page, which has a buyer form for you to complete with your search details. OR, you can send us an email with your criteria, questions, or to find out what has sold recently by clicking here.