Wednesday, December 16, 2015

House Porn

Some folks enjoy food photos. Babs is more into property listings.

Posted By on December 16, 2015, 4:00 AM

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Cruising the Interweb for house porn is just plain fun. When the kids are in bed, that's when you'll find Mom and Dad on their iPads, looking at dream homes. Sales data in the multiple-listing service is not published on public sites. Zillow relies on public records and Utah is not a public-disclosure state when it comes to real estate sales prices, so their "Zestimates" are not accurate. Allow me to indulge your real-estate fantasies for a moment or two this season.

The highest sales price reported of a Utah property in 2015 was of a new home in Park City in a gated area called The Colony. The 17,606-square-foot home has eight bedrooms, 10 bathrooms, eight fireplaces and a four-car garage on five acres of mountain land, and it is a ski-in/ski-out location. It was sold for $12,750,000 by Summit Sotheby's International Realty in Park City.

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That company also holds the record this year for the highest sale of a condominium, at the Montage in Deer Valley. Condo buyers got all catty a few years ago when City Creek in downtown Salt Lake City was built and condos were selling for $600 per square foot. This 4,870-square-foot Montage unit sold for $7.5 million, or $1,540 per foot. There were four bedrooms, five baths and three fireplaces, all on one level of the 12th floor, and the HOA fee is $12,000 per quarter ($48K per year). This was one of the remaining penthouses in the building, and it had stunning views from an altitude of 8,200 feet, with seven balconies. Owners in the Montage get use of the 35,000-square-foot spa and wellness retreat on the property and access to private ski valets that warm your boots before you hit the Deer Valley slopes. If you've got the money, don't panic yet—there's another Montage unit currently for sale (through Summit Sotheby's on the same floor). It's a bit larger, at 5,400 square feet, and a bit more money—at $9.25 million.

The most expensive home currently for sale in Utah is up in the Springville hills. The $35 million price tag includes a home with about 50,000 square feet, three levels, six bedrooms and 12 bathrooms. There's an indoor swimming pool with water slides, a lazy river and hot tub, a movie theater (of course), bowling alley, indoor shooting range, indoor basketball court and meeting rooms. It is owned by Tom Mower, the founder of Neways and now owner of Sisel. It was built in 2010, making it one of the largest homes in the country to be built in the last few years. You can get a virtual tour of it at UtahRealEstate.com/1275695. The price just dropped from $40 million—so run to the nearest lender! If you put 20 percent down, your monthly principal and interest payment (at 5 percent per year) would be $147,626.

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