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The Estin Report: Aspen Snowmass Weekly Sales and Statistics: Closed (10) and Under Contract (12): July 31 - Aug 7, 11

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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 MM postings are condensed. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen . Tim welcomes your business, inquiries and comments. Email him or call 970.920.7387.

Link to The Estin Report: 1st Half 2011 State of the Aspen Market (released 07/14/11)

See "Mega-mansion Deals Spur Rebound in Aspen Market" , 07/17/11 Sunday Business, Grand Junction Sentinel

Last Week's Market Highlights - Aspen Snowmass Real Estate Sales and Under Contracts appear 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 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.

Under Contract / Pending (12): MLS#'s 119173, 118982, 122030, 116713, 121660, 121839, 118765, 121183, 120946, 122171, 118855, 117543, This link is valid for 30 days until 9/6/11..Photos and descriptions of under contracts /pending are not posted unless special circumstances dictate....The Lacocina Penthouse units featured below that recently went under contract mid-June are noteworthy both for their high visibility as a 2007/2008 pre-recession launched central downtown Aspen project

Closed (10): MLS#'s 121737, 104789, 113092, 119706, 119095, 113495, 121653, 119238, 122301, 119629 This link is valid for 30 days until 9/6/11.

Featured Sold Aspen Properties

CLOSED: MLS # 112732 and #119620, Lacocina Building, 308 E. Hopkins Penthouse Unit 2 and Unit 3, (Link valid for 30 days until 9/7/11) Downtown Aspen, CO: Sold Price for both unfinished units $6,275,000/$1,132 sq ft. Ask Price: Unit 2: $3,995,000/$2,010 sq ft; Unit 3: $7,995,000/$2,257 sq ft. Upon going under contract, the ask price of the units was reduced to $2.75M and $5.75M each unit or $8.5M sold together. The buyer was represented by Tim Estin.

308 E. Hopkins Penthouse Unit 3 floorplan

308 E. Hopkins Penthouse Unit 3 model

View east toward Independence Pass

308 E. Hopkins Penthouse Unit 2 floorplan

308 E. Hopkins Penthouse Unit 2 model

SOLD: MLS # 112732 and #119620, Lacocina Building, 308 E. Hopkins Penthouse Units 2 and Unit 3, Downtown Aspen, CO: Sold Price for both unfinished units $6,275,000/$1,132 sq ft ; Ask Price: Unit 2: $3,995,000/$2,010 sq ft; Unit 3: $7,995,000/$2,257 sq ft. (Original Prices: Unit 2: $5,500,000, and Unit 3: $9,950,000, $15.45MM and on the market for 669 days since 08/19/09.) These are two brand new rare Penthouse units in the center of downtown Aspen. The price is for the finished units: Unit 2 is a 2 bedroom/2.5 bath, 1,998 sq ft condo with 1-car garage parking; the top floor Unit 3 is a 3 bedroom/3.5 bath, 3,542 sq ft absolutely killer unit with 824 sq ft of patio space and 1-car garage parking. Both are accessed with private off-street entry and elevator. The broker's description is, "One of a kind opportunity to own a brand new top floor penthouse in the central core of Aspen with direct views of Aspen Mountain and Independence Pass! Design features include a flexible & functional floor plan, elevator, gas fireplace, air conditioning, and spacious snow melt patios o enjoy the outdoor setting year round. Walk to everything including dining, shopping, entertainment, and local parks. Opportunity to select final finishes and trim. This location is unmatchable...Main Street to Monarch Street, left on East Hopkins Avenue. Property is on the left between Elevation & Lu Lu Wilson restaurants." Approximate 2010 Taxes Unit 2: $2,877 Yr and Unit 3: $5,125 YR; HOA Dues: $500 mos Unit 2 and $829 mos Unit 3. Under Contract Date: 06/16/11; Sold Date: 08/08/11. City of Aspen RETT Transfer Tax of 1.5% payable by buyer.(Photos and description courtesy of Morris & Fyrwald, Sotheby's Intl Realty.)

MLS #104789 - 62 acre vacant land, Tbd Woody Creek Road Woody Creek, CO: Sold Price: $3,000,000/$48,387 per acre MLS #104789 - 62 acre vacant land, Tbd Woody Creek Road Woody Creek, CO: Sold Price: $3,000,000/$48,387 per acre; Ask Price: $3,300,000. (Original Price $4,700,000 and on the market 1,184 days since 5/1/08.) The broker's comments, "Newly-created lots vested until April 9, 2013. 5750 FAR, or 7500 FAR with one TDR (TDR not included). Huge views, water rights, irrigated meadows, simple protective covenants, dogs allowed, exclusions. Very rare property located above Compass School. Purchase both Parcels 1 (MLS #104791) and 2 at the same time for a reduced package price, $6,900,000.Directions: 1st right past Woody Creek Tavern onto road to Lenado, left at Compass sign, go uphill" No other information available. A 12.6 acre nearby parcel - small compound - with front and center better views similar to photos above with 1970's built/2000 remodeled Main House, 2 guest and caretaker cabins, pool, mature beautiful gardens and irrigated fields closed in early April 2011 at $3.9M. (Photos courtesy of Morris & Fyrwald, Sotheby's Intl Realty.)

Disclaimer: The statements made in The Estin Report and on Tim Estin's blog represent the opinions of the author not Mason Morse. They hould 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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