Mason Morse Blog

Mason Morse Aspen broker Tim Estin’s complete AspenRealEstateBlog.com is released Monday mornings at his website and at times during the week.  These postings at MM are likely to be condensed because of his tech limitations. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen Tim is an active broker with Mason Morse, and he welcomes your business, inquiries and comments.

Since Jan 31st, there have been (6) big money Aspen real estate transactions over $14MM: Five (5) of these have occurred in the past 10 days alone with (3) closings and (2) going under contract; an Old Snowmass 200+ acre ranch went under contract on 2/18 with an ask price of $14MM; the sixth sale was Sony record impresario Tommy Mottola’s Aspen Wildcat Ranch which sold at the end of January for $17,750,000. A market update, two Estin Report Aspen trend graphs, MLS property links and archived photos and descriptions of these properties can be found at this link to 2/19/2011 Estin Report:Aspen Real Estate Update

Last Week’s Market Highlights – Aspen and Snowmass Real Estate Sales and Under Contract Activity: Last Week’s Aspen and Snowmass Real Estate Sales and Under Contract Activity: Last week’s real estate sales activity appears below for the upper Roaring Fork Valley for all property types over $250,000 excluding fractionals in Aspen, Snowmass Village, Woody Creek and Old Snowmass (although Residences at Little Nell and Dancing Bear are included due to their higher fractional price points). Because the MLS links below expire after 30 days, photos and written descriptions of the closed properties are posted on Tim’s website to preserve an archive of sold market activity.

Spreadsheet Summary of Last Week’s Aspen Real Estate Sales and under contract activity, see The Estin Report: Aspen Snowmass Weekly Sales Statistics, Feb. 13 – 20, 2011

Featured Aspen and Snowmass Properties Sold Last Week

MLS # 118696 – single family home in Mtn Valley Subdivision, 17 Mountain Laurel Court, Aspen, CO: Sold Price: $5,500,000/$823 sq ft; Ask Price: $5,995,000.(Original Price: $8,500,000 and on the market 1509 days since 5/15/08).This is a spec home completed at the tail end of the boom and unfortunately is a classic example of bad timing and riding the market down. This is a 2008 built 6,588 sq ft home with 6 bedrooms/6 baths/ 1 half bath and 3-car garage on .36 acres in a residential neighborhood. At this selling price, this is one of the best ‘deals’ in the past 2 1/2 years for a new home. The broker writes, “SELLER’S LOSS = BUYER’S OPPORTUNITY! PRICED TO SELL AT 30% (70 CENTS ON THE DOLLAR!)BELOW SELLER’S BREAK-EVEN PRICE. Located just 5 minutes to the Gondola & downtown Aspen, this gorgeous new home melds timeless style with state of the art custom finishes. Luxurious amenities include; sumptuous bedroom suites, wine cellar, gym/media rm, huge family room, elevator & much more. Great home for entertaining on a property that offers both privacy & terrific views of Aspen Mtn. When you don’t want to drive your guests around, there’s a convenient shuttle service to/from town. Visit this home & you will immediately feel the difference from ordinary spec homes; lovingly crafted with only the highest quality materials and workmanship that is unparalleled! The seller says, ‘Get it sold today.’ ” 2009 Taxes: 15,564 Yr. Under Contract Date: 1/20/11 ; Sold Date: 2/18/11.(Photos and description courtesy of  Lane Schiller Properties).



MLS # 115207 – Single family home in Wildridge Subdivision, 1065 Sinclair Rd, Snowmass Village, CO: Sold Price: $3,075,000/$785 sq ft; Ask Price: $3,325,000/$848 sq ft. (Original price: $3,595,000 and on the market 343 days since 03/09/10). This is a soft contemporary 2009 built 3,922 sq ft home with 4 bedrooms/5.5 baths and a 2-car garage with stunning Snowmass Mountain views. The broker comments, “Extraordinary unobstructed views from Snowmass Ski Area south to Aspen Mountain east, 3-tiered deck with 6-person hot tub. Abuts Snowmass HOA open space and the Rim Trail. Entire re-build completed in 2009. Lower level den can be converted to a 5th bedroom. Driveway coiled for snowmelt and main level equipped for auxillary air conditioning. Radiant heat throughout.” 2010 Taxes: $2,952 Yr; HOA Dues: $100 Yr. Under Contract Date:12/30/10; Sold Date: 02/16/11.(Photos and description courtesy of Aspen Signature Properties).

Closed (8): MLS #’s 111509, 118696, 119101, 118100, 119815, 115207, 119008, 119791 This link is valid for 30 days until 3/22/2011.

Under Contract / Pending (10): MLS# 117532, 118360, 118532, 116200, 116375, 119473, 116696, 119213, 116816, 109853, 119008  This link is valid for 30 days until 3/22/2011. Photos and descriptions of under contract properties are not posted unless special circumstances dictate.

Disclaimer: The statements made in The Estin Report represent the opinions of the author not Mason Morse Real Estate. They should not be relied upon exclusively to make real estate decisions. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or email.  A potential buyer is advised to make an independent investigation of the market and of each property before deciding to purchase. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable. However, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. The Estin Report is copyrighted 2011 and all rights are reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Market by Aspen broker Tim Estin mba, gri, www.EstinAspen.com”.