This week we are reviewing mortgage applications, remodeling regrets and 5 Spectacular Road Rides in and around Park City.

Buyers are reemerging in the housing market much faster than anticipated and Realtor Magazine shares that Mortgage Applications Continue Surprising Rebound. Mortgage applications are often an indicator of future home buying activity, and applications for home purchases have increased for five consecutive weeks. After increasing 6% last week compared to the previous week, applications for home purchases are now just 1.5% lower than a year ago, the Mortgage Bankers Association’s seasonally adjusted index shows. The rebound is significant considering purchase volume was down 35% annually just six weeks ago as the U.S. ramped up its battle against the COVID-19 pandemic.

Record low mortgage rates and strong pent-up demand are bringing home buyers back to the market as states begin to reopen. The average contract interest rate for the 30-year fixed-rate mortgage decreased from 3.43% to 3.41% last week (with 0.33 points on the loan). Refinance applications, meanwhile, are falling. Applications for refinancings dropped 6% last week and reached the lowest level in activity in more than a month. However, refinance applications are still 160% higher than a year ago as homeowners continue to lock in lower rates.

Realtor Magazine has another great article in Homeowners’ 5 Biggest Remodeling Regrets. Remodeling any aspect of a home can be a big job and a lot can go wrong when owners aren’t adequately prepared. Houzz, a home remodeling website, asked a panel of renovating experts the most common remodeling blunders they see. Here are a few of their responses.

Not budgeting properly. Underestimating the costs of a project can be a dire mistake that could leave homeowners either with an unfinished property or having to incur a financial loss. Have a detailed budget so you don’t run out of money. Remodeling experts advise always including a 10% to 20% buffer in the budget for any unexpected costs when tackling a remodel.

Assuming DIY will save you money. Remodeling experts call it the “DIY trap,” and rookie remodelers are especially prone to it. It’s not always cheaper to do a project yourself. It may not look right and could take triple the amount of time to complete than if you would have just hired a pro. “Limit your DIY tasks to things such as painting and simple landscaping jobs, and dedicate your time to project managing the renovation,” experts told Houzz.

Selecting the cheapest contractor. Another common pitfall is to go with the cheapest quote from a contractor. You don’t want to have to redo poor work. Don’t just focus on the affordability of a contractor’s quote but evaluate fully what it specifies, experts recommend. Gather quotes from at least three contractors and compare them in detail. Also, evaluate the quality of their work through project photos and professional recommendations.

Failing to describe what you want accurately. Know exactly what you want before you start and use the right words to describe it. Create idea books; search online for ideas online or in magazines; and have a specific list of layouts and finishes you desire. Become familiar with the proper terminology of those looks and finishes so you communicate them correctly to the pros, the experts recommend.

Not researching the material options. In the same regard, choosing materials often requires some homework. Builders or contractors may fall back on the same materials they always use, but that doesn’t always mean those are right for the project. “Spend time researching the various materials options available—including looks, price, pros and cons, sustainability, durability, and which ones are best suited to your location, and take this information to your builder,” Houzz notes. “Armed with this knowledge, you can decide together the most suitable materials and finishes for your project.”

View more common remodeling mistakes at Houzz.com.

Thinking about a bike ride, the team at Park City Magazine have a new article that we wanted to share - Biking Guide: 5 Spectacular Road Rides in and around Park City.

Empire (a.k.a. Guardsman) Loop - Length: 35 miles - Start on Kearns Blvd (Hwy 248), heading east toward Kamas. Take in some jaw-to-the-floor views—and steep uphill—with this heart-pumping, grueling ride. Head out of town on Highway 248 toward pastoral Kamas, approximately 14 miles. Roll past some pastures, and turn right onto Lambert Lane, then right onto Hill Top Road, then right onto SR 32, which turns into River Road after crossing Hwy 40 (look for fly-fishermen as you near the Provo banks). Then, turn right onto Pine Canyon Road and dig in for a serious climb, skirting Wasatch Mountain State Park and up to Guardsman Pass. When the road comes to a T above Midway, take a right and ascend to the summit overlooking Deer Valley Resort’s chutes, the state park, and beyond. Take a breath in the thin air (well above 9,000 feet at this point) and then start the fun descent down Hwy 224 (Marsac Avenue), either continuing to Old Town via the fast mine road or taking Wheaton’s Way connector (on the right, just before the old silver mine) to switchback down Royal Street and return to Old Town via Deer Valley Drive.

Brown’s Canyon Loop - Length: 30 miles - Start on Kearns Boulevard (Hwy 248), heading east toward Kamas. Roll into rural Summit County as you hop off of Highway 248 onto North Democrat Alley (2000 W) via a left turn, a quieter cruise (i.e., virtually no traffic). You will encounter a small section where asphalt gives way to some packed road base, but the majority is hard surface with more cows and horses than vehicles along the way. Turn left onto Wooden Shoe Lane into Peoa (keep an ear out for a concert in the park), which turns into SR 32. Turn left up Brown’s Canyon and pop back onto busy Highway 248 for the return to the “big” city.

Old Ranch Road/Home Depot Loop - Length: 15–16 miles, depending on route. From Old Town, head north on Highway 224 and turn right onto Old Ranch Road, shortly after passing the Canyons base of Park City Mountain. Quick with relatively limited elevation gain, this close-to-town loop is perfect for getting acquainted with the local landscape. Weave through Old Ranch Road—past neighborhoods, alfalfa pastures, and horse property—turn right at the frontage road (Highland Drive), and then turn left to cross over Highway 40. Take a right in front of Home Depot on the frontage road back to the intersection with Highway 248, and turn right to head back into town. Or, get away from vehicular traffic and do not hop over Highway 40, instead taking Highland Drive to the paved Silver Quinn’s Trail. Continue on the trail system past the Park City Ice Arena and under Highway 248, and turn right onto the Rail Trail—thereby staying on trails rather than heavily traveled road back into town.

Weber Canyon (out and back) - Length: 60 miles or more, depending on how far out one rolls. Start on Highway 248 and take Brown’s Canyon to Wooden Shoe Lane, which turns into Rob Young Ln (W 3700 N). Then, turn left on SR 32 and continue straight through on N New Lane, and turn right on Weber Canyon. This tree-lined country ride leads to Smith and Morehouse Reservoir, part of the Uinta-Wasatch-Cache National Forest land, which means the occasional camper may overtake a Weber Canyon–bound cyclist. But for the most part, this is peaceful pedaling. Once you arrive at the Smith and Morehouse turnoff, the rest of the ride is hard-packed gravel.

Wolf Creek Pass (out and back) - Length: 80-ish miles. Park at the South Summit Aquatic Center in Kamas (or ride there via Highway 248 and SR 32 through Kamas for extra miles). Think sunflower-strewn meadows and backside views of the Uinta-Wasatch-Cache National Forest. Start this adventure on Lower River Road to Woodland, then take a right at the red church onto Bench Creek Road, and continue onto SR 35 to Wolf Creek Pass. Crank those pedals a total of 50 miles to Hanna, or keep going. The road is paved all the way to Duchesne, 30 miles farther.

Before you go - Mountain weather is changeable, so layer up. Take altitude into consideration; don’t be afraid to stop for your oxygen-depleted lungs’ sake or to make way for a moose, and bring plenty of water and snacks to avoid bonking. Grab a Mountain Trails Foundation (mountaintrails.org) map, available at most sports retailers and coffee shops (or online) to plot your route, or download Trailforks or MTB Project apps for real-time GPS guidance. And consider purchasing a copy of Park City’s Prime Cuts 3, the newest edition of the go-to trail guidebook by longtime local riders Paul Boyle, Mark Fischer, and Charlie Sturgis (available at local retailers).

Special thanks to Scott House of White Pine Touring, Charlie Sturgis of Mountain Trails Foundation, Ben Liegert of Snyderville Basin Recreation, Todd Henneman of Storm Cycles, and Chris Erkkila of Deer Valley Resort for sharing trail- and road-riding expertise.