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March 6 - 13, 2011: The Estin Report: Aspen Snowmass Weekly Sales & Statistics: Closed (4) and Under Contract/Pending (4)

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Mason Morse Aspen broker Tim Estins complete AspenRealEstateBlog is released Monday mornings at his website and at times during the week. These postings at MM are 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.

Link to: The Estin Report: Aspen Snowmass 2010 Year End Summary

General Comments: Of note last week is the fact that 3 of the 4 closings were distressed sales. Our market has not been driven by these sales, but it remains to be seen the extent to which - if any - they will impact non-distressed sales and prices. In general, market activity continues to pick-up as we move full throttle into the spring break season. Since Jan 31st, there have been (6) big money Aspen real estate transactions over $14MM: Read the 2/19/11 Aspen Real estate Market Update with two important Estin Report Aspen trend graphs, MLS property links, photos and descriptions to these (6) properties.

Last Week's Market Highlights - Aspen 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: The Estin Report: Aspen Snowmass Weekly Sales Statistics, Mar 6 - 13, 2011

Featured Sold Aspen Snowmass Property Last Week

MLS #117414 - Single family Snowmass Village home, 71 N. Ridge Ln, Snowmass Village, CO: Sold Price: $2,500,000/$669 sq ft; Ask Price: $2,895,000/$774 sq ft. (Original Price:$3,195,000 and 250 days on the market since ). This is a 1989 built/2010 remodeled, 4 bedroom/4.5 bath, 3,739 sq ft home on almost 1 acre with a 2-car garage. The broker writes, "Designed by local architect, Graeme Means and rebuilt by Toby Morse. Virtually a brand new home sited among the trees in quiet lower Ridge Run. Every room designed to take in the great outdoors. Covered patio, many decks, big open great room, gourmet kitchen, huge garage for cars, storage and toys. Easy natural landscaping, 2nd popcorn kitchen for the kids." 2010 Taxes: $5,662 YR; HOA Dues: $125Yr. Sold Date:3/08/11; Under Contract Date:01/21/2011. Town of Snowmass Village Transfer Tax of 1% payable by buyer. (Photos and description courtesy of BJ Adams and Company).

Closed (4): Closed (4): MLS #117414, 116010, 117334, 106889. This link is valid for 30 days until 4/12/2011 Under Contract / Pending (4): MLS# 115984, 111104, 117040, 119941. This link is valid for 30 days until 4/12/2011. 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".

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Spreadsheet Summary of Last Week's Aspen Real Estate Sales and under contract activity, see
March 6 ]13, 2011: The Estin Report: Aspen Snowmass Weekly Sales Activity Page 1 By Tim Estin 970]309]6163, Broker Assoc. Mason Morse Real Estate, www.EstinAspen.com Closed (4): MLS #117414, 116010, 117334, 106889 Under Sold $/ Ask $/ MLS# Status Type* St# Street Area Sub/Loc Contract Date Sold Date Sq Ft Sold Price Sq Ft Ask Price Orig. Price** DOM*** 106889 C DP 1240 Snowbunny West Aspen SnowBunny 2/18/2011 3/8/2011 $ 658 $ 3,100,000 $ 742 $ 3,495,000 $ 6,950,000 945 117414 C SF 71 North Ridge Snowmass VillagRidgeRun 1/21/2011 3/8/2011 $ 669 $ 2,500,000 $ 774 $ 2,895,000 $ 3,195,000 250 117334 C DP 138 Lupine East Aspen MtValley 1/4/2011 3/7/2011 $ 825 $ 3,490,000 $ 1,016 $ 4,295,000 $ 4,295,000 241 116010 C SF 106 Haystack Lane Old Snowmass LittleElk 11/8/2010 3/4/2011 $ 210 $ 575,000 $ 263 $ 720,000 $ 999,000 309 Under Contract / Pending (4): 115984, 111104, 117040, 119941 Under Sold $/ Ask $/ MLS# Status Type St# Street Area Sub/Loc Contract Date Sold Date Sq Ft Sold Price Sq Ft Ask Price Orig. Price *DOM 111104 P DP 268 Mtn Laurel East Aspen MtValley 3/3/2011 $ ] $ 859 $ 2,995,000 $ 4,995,000 671 119941 P SF 904 Cooper Central Core None 3/4/2011 $ ] $ 1,302 $ 3,350,000 $ 3,350,000 13 115984 P SF 1993 Faraway Snowmass VillagRidgeRun 3/7/2011 $ ] $ 985 $ 4,250,000 $ 4,250,000 320 117040 P SF 75 Capitol Creek Rd Old Snowmass Capitol Creek 3/4/2011 $ ] $ 392 $ 969,000 $ 1,075,000 1237 P = Pending (Under Contract) Information is from sources deemed reliable but cannot be guaranteed. SMV = Snowmass Village *Property Types: SF = Single Family Home; CO = Condo; CM = Commercial; SL = Single Vacant Lot; VL = Vacant Land; MH = Mobile Home ** Original Price = Often this number is misleading because it may only represent the original price as of that particular listing cycle, not the beginning price when first listed. ***DOM = estimated total Days on Market for this specific listing period. Additional research would have to be done to determine if actual DOM is more than one listing period. 031311_TheEstinReport_Aspen_SMV_WeeklySalesStatistics_www.EstinAspen.com

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