If we look back to real estate trends spanning the past 100 years it's apparent that these trends generally tracked the inflation rate.  Between 1996 and 2006 housing prices suddenly doubled while household incomes followed a more traditional path.  What caused this to happen?  Follow the link below to learn how the introduction of adjustable-rate mortgages (ARMs) lead American into an inevitable real estate crisis and what we could have learned from observing the past:

http://www.realtor.org/rmonews_and_commentary/opinion/1004_commentary_history

According to Ski Magazine a new survey has found Colorado to be the fourth-happiest state in the nation. It also turns out that, among the Top 5, three are what we would consider skiing states: Utah (No.1), Wyoming (No. 3), Colorado (No. 4). And hey, if you throw Minnesota (No. 5) in there -- they sure love their nordic skis in Minnesota -- skiing states take all but one of the Top 5. That leaves Hawaii in the No. 2 slot as the happiest nonskiing state. (Being able to surf every day of the week must count for something, right?) The moral here is pretty clear: Move to a ski state, get happy.

As Luxury Ski Areas Go Into Deep Freeze, Sellers Capitulate to Market Realities

This title is from an article in the October 30, 2009 Wall Street Journal.  Written by Nancy Keates, this article discusses the real estate markets as it relates to ski town and resort markets.  The following excerpt is about specifically Park City

 Park City, Utah, a popular destination with a mix of high and moderately priced homes, has shown some signs of stabilization. The number of homes sold as of August of this year was the same, 50, as it was by August 2008, an improvement over the winter. But pricey Upper Deer Valley is still struggling.

"I'm willing to go another year," says Craig Mogel, a developer in Deer Valley who initially listed a home he built at $9.95 million in the fall of 2007 and reduced the price by $1 million a year later.

To read the article in its entirety which discusses the high end real estate market in Aspen, Vail, Sun Valley, and Hawaii, click on this link An Avalanche of Price Cuts by Nancy Keates.

Two sisters talking: the brunette says to the blonde, "I'm dating a Brazilian man!" The blonde says, "You tramp!  How many is a brazilian?"

OK, so fall is in the air already. The temp for the early morning bike ride (at 6:30) is a brisk 37 degrees...brrrrrrrrrrr. The first scare-a-crow is on the farm trail, there are signs of fall colors in The Colony which means winter is just around the corner. Yeah baby!

Each year, the Robb Report spotlights the best in new autos, yachts, watches, resorts, wines and more. This year, Talisker has been awarded the Best of the Best for Mountain Resort Community.

Within the Vacation Homes section, Talisker appears alongside categories such as: Best of Fractional (Ritz-Carlton Club), Destination Club (Exclusive Resorts), Golf Resort Community (Kiawah Island) and Beach Resort Community (Hualalai).

Robb Report: Best of Best - Talisker [PDF]

Rick Klein from Mountain Summit Mortgage spoke at this morning sales meeting and shared some very interesting statistics.  This graph illustrates the sales activity for condos, single family homes and land.  As you can see, there has been a slow and steady increase in sales, particularly in the single family home segment for the past 3 months, however vacant land sales remain or weakest segment of the market.  This is very encouraging news.  With home sales on the rise, it's clear that Park City is still a magnet community despite the current economic conditions.

We had the pleasure to visit and get a private tour of Red Ledges yesterday.  Located in Heber, this beautiful community offers some of the best views in all of Northern Utah.  Red Ledges includes a Jack Nicklaus Signature 18 hole golf course (par 72), a Cliff Drysdale tennis academy and even a public equestrian center that will offer boarding and horseback riding on the endless miles of trails through Red Ledges and the adjoining property.  Pools, a spacious fitness center, a casual restaurant and a day spa are all part of the complete amenity package.  Lots, homesites, cottages, custom homes, there is something for everyone.  And the prices....there are some incredible deals to be had (think Mercedes Benz as an incentive).

Click on the attached link http://redledges.com for more information.