Thoughts on East Creek Ranch

East Creek Ranch is the new home development on the north side of I-80 near the Highway 40 exit. You could think of it as “Silver Creek Valley.” We spent some time researching it and walking around the area this weekend. Here are some random thoughts:

• Homes range in size from 2600 sq ft to 5000 sq ft.
• Prices range from $660K to $890K
• Many of these homes are going to have a great view of the mountain range (and Canyons). It’s that view of Park City that you get when driving in from Wyoming.
• These houses seem CLOSE TOGETHER. They aren’t as close as Silver Springs houses but they are going to be larger. This is likely going to feel cramped when built out.
• People are used to seeing a wide open field with sheep there. It will look very different with 60+ houses down in that valley. This is going to change the feel of the Park City drive-by substantially.
• Will the Walmart Neighborhood Market go here or by Home Depot?
• No basements? Why?
• Woodside Homes, the builder, is offering 30-year FHA loans for these properties with a 5.5% APR. According to bankrate.com FHA loans are often given with less stringent qualifications and requirements. That’s “great” for our community.
• We listened to two of Park City’s top realtors on the radio Friday. They were talking about how people were buying at Jordannelle because homes started at about $500,000 and the homes were new. What will this (and Park City Heights) do to home values in Pinebrook, Jeremy, and Silver Springs? Do you want to live in a 10 year old home in Silver Springs for $600,000 or new home here for $650,000?
• The again, according to those same Realtors, home prices are topping out at $750K in Pinebrook and Jeremy Ranch, due to the maximum loans people can get. Who is going to be able to get a loan for $800K here? These likely are the same buyers who would be buying in Pinebrook or Jeremy.
• People living out on the road behind these houses aren’t going to be happy. There goes the view and the likely reason they were out there in the first place.