Real Estate
From its beginnings as a mining town in the mid-1800s, Park City has grown to over 7,300 residents and is indisputably Utah’s premier resort town. From its historic Main Street and thriving nightlife to its three world-class ski and snowboarding resorts, Park City never sleeps.
A Park City home evaluation can give you insight into your house’s value.
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| Population 7,371 | Median Age 32.7 yrs | Household Size: 2.72 |
| Avg Home Value: $450,900 | July High: 75.6°F | January Low: 10.6°F |
Park City Real Estate
The Park City MLS in April 2006, had 75 homes for sale, ranging greatly in size, price and amenities. The most expensive property is a 36-acre ranch with four bedrooms and four bathrooms, asking $9.5 million. The least expensive is a $95,000 condo in a mountain resort residence club. By looking at other homes in the MLS with similar amenities, size and location to your house, you can estimate your property’s worth. However, a Park City home evaluation is a more effective way to determine your home’s worth. When you first meet with an agent, he or she will do a free Comparative Market Analysis of your property, to evaluate your property’s market value. This means the agent will compare your home to other recently sold homes in the area, taking into account features, size, proximity to schools and malls and market conditions in your area. The agent will then determine a price for your home. If you are not certain you agree with the agent’s price it is a good idea to get a separate home evaluation. You will have to pay for this service, but it can be worth it in the long run.
A professional home evaluator will come to your home and perform a Comparative Market Analysis, just as your agent did, and you can compare the results. This type of home evaluation is often called an appraisal. It helps give you an idea of how you should price your property in the MLS. When you find a buyer, the buyer’s lender will require that a home evaluation be done and that the results be submitted before he or she will allow the loan to go through. This is one reason it is a wise decision to get an appraisal now, so you don’t have to worry about it later.
There is another type of Park City home evaluation, known as a home inspection. This is done for the buyer once they are seriously considering purchasing the property. The inspection makes sure nothing in the home needs to be repaired and that evaluates the state of appliances and plumbing to make sure everything works well. Make sure you know which type of home evaluation is being discussed. Your agent will know both types of evaluations and can answer any questions you may have.
By: Erin Rigik
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®