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The Estin Report: Aspen Snowmass Weekly Sales and Statistics: Closed (5) and Under Contract/Pending (2): May 1 - 8, 2011

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

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

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 at my website to preserve an archive of sold market activity.

Closed (5): MLS # 118947, 118532, 117200, 116793, 115026. This link is valid for 30 days until 6/7/2011.

Under Contract / Pending (2): MLS # 111859, 120654. This link is valid for 30 days until 6/8/2011.Photos of under contract properties are not posted unless special circumstances dictate.

Featured Aspen Sold Property Last Week

MLS #117200 - Single family home, Meadowood Sub-division, 181 Larkspur Lane, Aspen, CO: Sold Price: $6,975,000/$696 sq ft; Ask Price: $7,995,000/$798 sq ft. (Original Price: $12,750,000 and 944 days on the market since 11/16/07). This is a new 2007 built, 10,021 sq ft home with 5 bedrooms/5 baths/3 half baths and a 3-car garage and separate artists studio. Depending on buyer opinion, my experience indicated this property probably required at least $1M in redesign and upgrade work because of design peculiarities and limitations. This additional expense should be factored into the total sold price adding a minimum of $100 sq ft to the price. The broker's comments are, "Situated on .93 acres of land amidst 100 yr old conifers & mature gambel oak trees, Meadowood Manor offers 10,021 square feet of opulent indoor living space as well as 3711 square feet of outdoor entertaining space. Spectacular views from Hunter Creek to Willow Creek can be enjoyed from the floor-to-ceiling windows as well as from the expansive decks, patios, & terraces. Features include cathedral ceilings, custom cabinetry & millwork, integrated color plaster walls, master suite w/2 private balconies & sun-drenched office, gourmet kitchen with professional-grade appliances & separate butlers pantry, 5 fireplaces, wine cellar, intimate library, authentic stonework accented with Italian stucco, sustainably harvested exotic wood floors, & remote studio space w/a variety of potential uses." 2010 Taxes: $35,869 Yr; HOA Dues: $3,112 Yr. Under Contract Date: 03/18/2011; Sold Date: 5/03/2011.(Photos and description courtesy of Morris & Fyrwald, Sotheby's Intl Realty.)

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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