Mason Morse Blog

Archive for November, 2011

The Estin Report Aspen Snowmass Real Estate Weekly Market Update: Closed (4) and Under Contract (6): Nov. 20 – 27, 2011

Posted by Tim Estin on November 27th, 2011

Coldwell Banker 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 at testin@masonmorse.com or call 970.920.7387.

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Last Week’s Market Highlights Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. Because the MLS links below expire after 30 days, photos and written descriptions of select closed properties (primarily those with excellent photography) are posted at my full blog post to attempt to preserve a public archive of sold market activity.

Aspen Market Commentary:

11/21/11 Aspen High End Surges Onward; Over $15MM Category +300% in 2011: : Read full blog post and Listen to KAJX/Aspen Public Radio Tues. 11/22/11 interview

Under Contract / Pending (6): MLS #s 120920, 123341, 123097, 123269, 120282, 116529. This link is valid for 30 days until 12/27/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (4): MLS #s 119757, 113700, 118569, 122055. This link is valid for 30 days until 12/27/2011.

Select Aspen Solds Last Week:

MLS #119757 – Aspen, West End single-family home, 631 W. Bleeker Street, Aspen, CO: Sold Price: $4,250,000/$1,044 sq ft unfurnished. More details below photos.

MLS #119757 – Aspen, West End single-family home, 631 W. Bleeker Street, Aspen, CO: Sold Price: $4,250,000/$1,044 sq ft unfurnished; Ask Price: $4,995,000. (Original Price: $4,995,000 and 279 days on the market since 02/13/2011.) This is a 2006 built, 4 bedroom/4 bath/1 half bath, 4,070 sq ft single-family home with 2 car garage in the West End. Broker comments are, “Put a modern twist on the Victorian era! This newly-built home located in the desirable West End is one of Aspen’s finest residences. From the Italian porcelain to the state-of-the-art home theatre, this four-bedroom, and four-and-one-half bathroom home has it all. There is a nice feel of openness with the Aspen Historical Society Museum and park located across the street. Find yourself close to everything Aspen has to offer from skiing at one of our four world class ski-areas in the winter and the Aspen Music Festival & School in the summer.” 2010 Taxes: $9,492. Under Contract Date: 09/28/2011; Sold Date: 11/18/2011. (Photos and broker comments courtesy of Aspen R.E. Co.)

MLS #113700 – Aspen, West Aspen single-family home, 9 Pyramid Road, Aspen, CO: Sold Price: $8,670,000/$956 sq ft furnished. More details below photos.

MLS #113700 – Aspen, West Aspen single-family home, 9 Pyramid Road, Aspen, CO: Sold Price: $8,670,000/$956 sq ft furnished; Ask Price: $10,750,000. (Original Price: $11,800,000 and 744 days on the market since 11/04/2009.) This is a 2006 built, 5 bedroom/6 bath/2 half bath, 9,067 sq ft single-family home with 3 car garage in the Aspen Tennis Club subdivision. Broker comments are, “Award-winning contemporary home filled with light and built with energy efficiency and access to the outdoors in mind. Furniture and furnishings by designer Larry Laslo. Turn-key. Comfortable, Japanese gardens, views, gym, media, many extras, etc. Within 3 minutes of town.” 2010 Taxes: $16,008; HOA Dues approx: $1,000 Yr. Under Contract Date: 09/09/2011; Sold Date: 11/17/2011. (Photos and broker comments courtesy of Joshua & Co of Aspen.)

Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author not Coldwell Banker Mason Morse. They should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. 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. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or by email. The Estin Report is copyrighted 2011 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri, www.EstinAspen.com”

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Tags: aspen real estate, Estin Report, market activity, market report, market statistics, sales activity, tim estin, Tim Estin blog
Posted in Aspen, For Buyers, For Sellers, Front Page, Local, News, Real Estate, Uncategorized | Comments Off

The Estin Report: Aspen Snowmass Real Estate Weekly Market Update- Closed (8) and Under Contract (5): Nov. 13 – Nov. 20, 11

Posted by Tim Estin on November 21st, 2011

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Market Commentary

Lest there be any uncertainty that high end Aspen property sales are falling off amidst sovereign and debt crisis fears, last week there were (2) significant sales at $15M and $16.050M for large 2010 built spec homes (details below). From Jan 1st – Nov 20th this year, Aspen single family home sales above $15MM are well ahead of 2010 (+300%), 8 sales versus 2, and 2009 (+100%) levels, 8 versus 4. In total sales above $7.5M, Aspen single family home sales are +100% over 2010, 32 this year versus 16 last year, and +129% above 2009 sales, 32 versus 14 solds. In addition, there are currently two more Aspen properties under contract at ask prices $8.9M and $10.75M (link is valid for 30 days until 12/20/11). Go to full post for complete comments.

Under Contract / Pending (5): MLS #s 120825, 119280, 122814, 119972, 120286. This link is valid for 30 days until 12/20/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (8): MLS #’s 117001, 114243, 117735, 114620, 122556, 114966, 119937, 113416. This link is valid for 30 days until 12/20/2011.

Featured Aspen Sold Properties Last Week:

MLS #117001 – Aspen, Central Core 2010 new single-family home, 24 Little Cloud Trail, Aspen, CO: Sold Price: $16,050,000 /$1,570 sq ft furnished. More details below photos.

MLS #117001 – Aspen, Central Core single-family home, 24 Little Cloud Trail, Aspen, CO: Sold Price: $16,050,000/$1,570 sq ft furnished, -27% off original price; Ask Price: $18,850,000. (Original Price: $22,000,000 and 509 days on the market since 06/22/2010.) This is a 2010 spec built, 6 bedroom/6bath/3 half bath, 10,221 sq ft single family home with 2 car garage. Broker comments are, “Magnificent brand new home offering sweeping views, privacy and impeccable detail and interior design by Donna Guerra. This in-town estate in a small gated enclave is a true legacy property with unbelievable custom details for the most discerning buyer. Extras include library, media room, breakfast room, recreation room, two foyers, elevator, wine/dining room, outdoor sky lounge, 700 additional square feet of storage, terraces, and more.” 2010 Taxes: $13,189. Under Contract Date: 10/08/2011; Sold Date: 11/16/2011. (Photos and broker comments courtesy of SDS Real Estate, Inc.)

MLS #114243 – Aspen, new 2010 Red Mountain single-family home, 151 Nighthawk Drive, Aspen, CO: Sold Price: $15,000,000 /$1,401 sq ft furnished. More details below photos.

MLS #114243 – Aspen, new Red Mountain single-family home, 151 Nighthawk Drive, Aspen, CO: Sold Price: $15,000,000 /$1,401 sq ft furnished, -37% off original price; Ask Price: $17,500,000. (Original Price: $23,900,000 and 687 days on the market since 12/29/2009.) This is a 2010 spec built, 5 bedroom/7 bath, 10,702 sq ft single family home with 3 car garage. Broker comments are, “This stunning new residence blends cutting edge design and technology. Massive windows bring views from Independence Pass to Mt. Sopris into every room. The open floor plan is equally suited to intimate dinner parties and large formal gatherings. The home includes a family/media room, wine room, gym with juice bar, and a spa. This home was featured in Architectural Digest.” 2010 Taxes: $14,248. Under Contract Date: 10/11/2011; Sold Date: 11/16/2011. (Photos and broker comments courtesy of Frias Properties of Aspen. Buyer represented by Coldwell Banker Mason Morse RE.)

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Tags: aspen real estate, coldwell banker, Estin Report, market activity, mason morse, sales activity, sales statistics, snowmass real estate, statistics, tim estin, update
Posted in Aspen, For Buyers, For Sellers, Front Page, Lifestyle, Local, National, News, Real Estate, Uncategorized | Comments Off

The Estin Report: Aspen Snowmass Real Estate Weekly Market Update: Closed (6) and Under Contract (10): Nov. 6 – 13, 2011

Posted by Tim Estin on November 14th, 2011

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Under Contract / Pending (10): MLS #s 119006, 120514, 122030, 121838, 121840, 119776, 119050, 118477, 118787, 118417. This link is valid for 30 days until 12/13/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (6): MLS #’s 121184, 116678, 116625, 118477, 122611, 117046. This link is valid for 30 days until 12/13/2011.

Featured Sold Aspen Properties Last Week

MLS #116678 – Aspen, West Aspen single-family home, 501 W. Buttermilk Road, Aspen, CO: Sold Price: $6,000,000/$778 sq ft furnished. Newer 2008 home sells at -53% discount to original 2008 list price. More details below photos.

MLS #116678 – Aspen, West Aspen single-family home, 501 W. Buttermilk Road, Aspen, CO: Sold Price: $6,000,000/$778 sq ft furnished; Ask Price: $6,950,000. (Original Price: $12,750,000 and 1,019 days on the market since 11/26/2008.) This is a 2008 built, 7 bedroom/7 bath/2 half bath, 7,707 sq ft West Buttermilk single-family home on 37 acres. Broker comments are, “Eclectic mountain home on 37 private acres in West Buttermilk with irrigation, landscaping, rolling hills, & wide open views. Features include 7 bedrooms, 7 full baths, 2 half baths, 7,707 square feet, finishes of marble, granite, & onyx, imported custom doors, hardwood floors, grand foyer with fireplace, large sunken living room with exposed beams & two-sided fireplace, gourmet kitchen with custom cabinetry, sitting area & fireplace, office/sitting area adjacent to the master suite, steam shower & spa tub in master bath, wine room, media room with wet bar, exercise area, 791 square foot three car garage, large patio with fire pit & built-in grill, and an exceptional caretaker apartment with separate entrance, 2 bedrooms, 2 baths, and a garage. Lot split potential and in process.” 2010 Taxes: $27,727. Under Contract Date: 10/17/2011; Sold Date: 11/07/2011. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #116625 – Aspen, West Aspen half duplex, 1134 Cemetery Lane #B, Aspen, CO: Sold Price: $3,550,000/$834 sq ft unfurnished. More details below photos.

MLS #116625 – Aspen, West Aspen half duplex, 1134 Cemetery Lane #B, Aspen, CO: Sold Price: $3,550,000/$834 sq ft unfurnished; Ask Price: $3,850,000. (Original Price: $4,290,000 and 528 days on the market since 05/29/2010.) This is a 2009 built, 5 bedroom/5 bath/1 half bath, 4,254 sq ft West Aspen half duplex with 2 car garage. Broker comments are, “Fantastic new half duplex. Lives like single family home. Custom high-end finishes throughout, too numerous to list. Outstanding unobstructed views of Independence Pass and Aspen Mountain. Contemporary and tasteful architectural designs. 2010 Taxes: $9,992; HOA Dues: TBD. Under Contract Date: 10/14/2011; Sold Date: 11/08/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

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Tags: aspen real estate, coldwell banker, Estin Report, market activity, market report, mason morse, sales activity, sales statistics, statistics, tim estin, update
Posted in Aspen, For Buyers, For Sellers, Front Page, Lifestyle, Local, National, News, Real Estate, Uncategorized | Comments Off

The Estin Report: Aspen Snowmass Real Estate Weekly Market Update – Closed (5) and Under Contract (8): Oct. 30 – Nov. 6, 2011

Posted by Tim Estin on November 12th, 2011

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.

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

Click image

Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Under Contract / Pending (8): MLS #s 121701, 113416, 105925, 120436, 113935, 120263, 113436, 122899, 112738. This link is valid for 30 days until 12/06/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5): MLS #’s 122493, 113958,112738, 119167, 115525. This link is valid for 30 days until 12/06/2011.

Select Aspen Sold Properties Last Week

MLS #115525 – Aspen Highlands, Thunderbowl Townhome, 53 Thunderbowl Lane 11, Aspen, CO: Sold Price: $3,900,000/$680 sq ft. unfurnished. More details below photos.

MLS #115525 – Aspen Highlands, Thunderbowl Townhome, 53 Thunderbowl Lane 11, Aspen, CO: Sold Price: $3,900,000/$680 sq ft. unfurnished. (Original Price: $4,850,000 and 584 days on the market since 03/26/2010.) This is a 2007 built, 5 bedroom/5 bath/2 half bath, 5,733 sq ft Aspen Highlands condo with a 2 car garage. Broker comments are, “New, luxurious townhome centrally located within steps of Aspen Highlands Ski Area and the core of Aspen Highlands Village. With 5,733 sq. ft. of living space, this property lives like a single-family home but has the lock-and-go convenience of a town-house. Nowhere in Aspen will you find the high level of finish including custom cabinetry, granite tops, hand-hewn wood flooring and soaring ceilings in this price point. For the avid skier and summer enthusiast, this Thunderbowl Townhome is the place.” 2010 Taxes: $27,321; HOA Dues: $5,746 Qtr. Under Contract Date: 09/23/2011; Sold Date: 10/31/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Chaffin Light Real Estate Snowmass Village.)

MLS #112738 – Aspen, Central core, Riverview Condominium complex, 1020 Hopkins Avenue 2, Aspen, CO: Sold Price: $975,000/$928 sq ft. furnished. More details below photos.

MLS #112738 – Aspen, Central core , Riverview Condominium complex, 1020 Hopkins Avenue 2, Aspen, CO: Sold Price: $975,000/$928 sq ft. furnished; (Original Price: $1,499,000 and 802 days on the market since 08/17/2009.) This is a 1973 built, 2 bedroom/2 bath, 1,050 sq ft Riverview condo. Broker comments are, “Riverfront. Perfect remodel candidate in the popular Riverview building. 2 balconies, 1 on the river and one facing south. Pool, generous storage, assigned parking, owner pet ok. Private location at the end of Hopkins next to the foot bridge, yet core area convenience.” 2010 Taxes: $3,348; HOA Dues: $1,236 Qtr. Under Contract Date: 10/21/2011; Sold Date: 10/28/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Frias Properties of Aspen.)

Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author not Mason Morse. They should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. 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. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or by email. The Estin Report is copyrighted 2011 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri, www.EstinAspen.com”

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Tags: Aspen Broker, aspen real estate, Estin Report, market report, sales statistics, tim estin, weekly update
Posted in Aspen, For Buyers, For Sellers, Front Page, Lifestyle, Local, National, News, Real Estate, Uncategorized | Comments Off