Mason Morse Aspen broker Tim Estin’s complete AspenRealEstateBlog.com is released Monday mornings at his website and at times during the week. These MM postings are condensed. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen . He welcomes your business, inquiries and comments. Email him or call 970.920.7387.
Last Week’s Market Highlights – Aspen Snowmass Real Estate Sales and Under Contract Activity: Last week’s real estate sold and under contract activity appears below for the upper Roaring Fork Valley for all property types over $250,000 in Aspen, Snowmass Village, Woody Creek and Old Snowmass excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of the closed properties are posted here to preserve an archive of sold market activity. For past sales, scroll to page bottom and search by time period.
Commentary – Signs of a market bottom?
One particular builder/developer has been especially active in the past five weeks acquiring 3 properties, two Historic West End projects and one river front property – all slated for some form of redevelopment. It is often noted that when locals start to purchase vacant land and projects, it should be regarded as a marker for the market bottom. Local knowledge and smart money sniffing values and looking towards the future…(go to The Estin Report blog post for more.)
Under Contract / Pending (6): MLS# 121271, 119174, 121671, 120147, 114683, 119466. This link is valid for 30 days until 7/26/11. Photos of under contracts /pending are not posted unless special circumstances dictate.
Closed (8): MLS# 116364, 120448, 117707, 114250, 120654, 116504, 119161, 121581. Link is valid for 30 days until 7/26/11.
Featured Sold Aspen Property Last Week
MLS #116364 – Downtown Aspen Townhome, 719 E Hopkins Avenue #201 Aspen, CO: Sold Price: $6,470,420/$1,278 sq ft; Ask Price: $7,295,000/$1,441 sq ft. (Original Price: $11,975,000 listed on 12/12/08 for 70 days. It didn’t sell, was withdrawn for 14 months and came back on the market on 4/15/10 at $8,735,000 for another 406 days.) Ask Price: $7,295,000/$1,441 sq ft. The property is featured because it is one of the few ‘new’ construction townhomes that has been available in Aspen’s downtown core. There is little new construction taking place anywhere in the Aspen area, much less downtown. This is one of the newest spec projects completed during the economic crisis. More info below the photos.
MLS #116364 – Downtown Aspen Townhome, 719 E. Hopkins Avenue #201 Aspen, CO: Sold Price: $6,470,420/$1,278 sq ft; Ask Price: $7,295,000/$1,441 sq ft. This is a 2010 built 5 bedroom/4 bath/3 half bath, 5,061 sq ft townhome in the center of downtown with 2-car garage. The broker’s comments are, “This brand-new 5-bedroom townhome is a showcase for sophisticated in-town living. Red sandstone steps lead up to modern spaces complemented by wide plank European oak floors, color-integral plaster walls and decorative lighting. Light cascades through south-facing windows and a 345 square-foot patio reveals grand Aspen Mountain views off the main living area. The open kitchen features stainless appliances by SubZero and Viking and walnut custom cabinetry. Other quality finishes and amenities include Ann Sacks stone tiles in the baths, custom millwork and copper roof, air-conditioning, elevators and temperature controlled wine room.” 2010 Taxes: $19,000; HOA Dues: TBD. Under contract date: 05/16/11; Sold Date: 06/17/11. City of Aspen Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of CB The Aspen Brokers.)
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”.