Impact of the First Time Homebuyer Credit in Park City

The creation, then expiration, then extension and expansion of the first time home buyer credit has had a significant impact on home sales across the country. How has this affected the market in Park City, Utah?    In short, Park City's market differs from the nation's as a whole in ways that mean the impact there has been much smaller than in other areas. Investors in Park City homes and real estate are disproportionately second-home buyers. This doesn't mean that the area has not seen a slowdown--even though sales are up dramatically over last year, a lot of shoppers have been waiting to buy.     There is good news as a result: this market today is the product of a period in which these buyers have been biding their time waiting for a good deal. The result: there are now plentiful deals to be found on the market, and they are starting to sell. Foreclosures and short sales are predictably moving healthily, buyers are getting their asking prices, and an environment of multiple bids on a home or property in the Park City area is once again not uncommon. And the market shows other signs of improvement:   the rate of defaults has declined, and we are now seeing much less distressed inventory on the market. This could be a time of opportunity for investors in Park City.    Learn more about the Park City real estate market from the experts at http://www.parkcityhomes.com