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The Estin Report: Aspen Snowmass Real Estate Weekly Market Update: Closed (5) and Under Contract (3): Nov. 27 - Dec. 4, 11

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Coldwell Banker 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 . 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, read a 12/1/11 article in the Aspen Times about high end property closings in November selling at steep discounts to original ask prices and Listen to KAJX/Aspen Public Radio Tues. 11/22/11 interview with Tim Estin.

Under Contract / Pending (3): MLS #s121326, 122662, 117227. This link is valid for 30 days until 01/04/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5): MLS #s 112413, 119497, 122848, 122265, 119958 . This link is valid for 30 days until 01/04/2012.

Aspen Snowmass Solds Last Week:

MLS #112413 - Aspen, Red Mountain single-family home, 379 & 389 Ridge Road, Aspen, CO: Sold Price: $22,750,000/$1,470 sq ft unfurnished. More details below photos.

MLS #112413 - Aspen, Red Mountain single-family home, 379 & 389 Ridge Road, Aspen, CO: Sold Price: $22,750,000/$1,470 sq ft unfurnished; Ask Price: $25,850,000. (Original Price: $35,000,000 and 830 days on the market since 07/27/2009.) The "Sold" information has yet to be entered into the Aspen MLS. An 12/1 article in the Aspen Times stated this property had sold just before Thanksgiving. This property consists of two, 2008 built homes. The main house has 5 bedrooms/5 baths/3 half baths, 11,300 sq ft with 3 car garage. The guest house has 5 bedrooms/5 baths/1 half bath, 4,848 sq ft with 2 car garage. Broker comments are, "Rare opportunity to own a luxury compound consisting of 2 contiguous lots on over 2 acres. Front row views of Ajax, Indy Pass, & the entire valley from this newly sustainable constructed, certified built green, Thermal solar-ready mountain contemporary estate with timeless finishes, 5 bedrooms, 5 full baths, 3 half-baths, 11,300 sq ft, open floor plan, hardwood floors, gourmet kitchen w/granite counters, gym/6th bedroom, theater w/8 ft Dolby hi def screen & surround sound, 1600 bottle wine enclave, gracious master suite, huge rec room, 4 fireplaces, 3 washers & dryers, resistance pool, A/C, 3 car garage, multiple decks & patios, & beautiful outdoor spaces. The 4,848 sq ft guest home w/5 bedrooms, 5.5 baths, & 2 car garage provides numerous options for an enhanced lifestyle. HERS energy rating is 57. Certified ''Built Green'' with 260 accumulated points. Full PV system. Thermal Solar ready. Copper roof." 2010 Taxes: $52,771. Under Contract Date: 11/01/2011; Sold Date: 11/23/2011. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby's Intl Realty.)

MLS #119497 - Aspen, newly remodeled Central Core Aspen West condo, 104 W. Cooper Street, Aspen, CO: Sold Price: $2,100,000/$1,597 sq ft furnished. More details below photos.

MLS #119497 - Aspen, new remodeled Central Core Aspen Westcondo, 104 W. Cooper Street, Aspen, CO: Sold Price: $2,100,000/$1,597 sq ft furnished; Ask Price: $2,275,000. (Original Price: $2,550,000 and 308 days on the market since 01/24/2011.) This is a 1972 built/2010 remodeled, 2 bedroom/2 bath, 1,424 sq ft condo. The exterior of the 6-8 unit complex was completely redone and expanded in 2008/2009. This is one of the very few "like-new" small complexes recently done over during the recession, and the location opposit Koch Park is superb. Broker comments are, "Stunning remodel completed in 2010, of one of the best condo locations in town. Elegant, chic European styling has transformed this property into Aspen's newest A++ location. Overlooking Koch Park it's an easy walk to the lifts or in for dinner. Top of the line appliances include Sub Zero and Wolfe. Air conditioning helps make this a good rental opportunity. Covered year round balcony; 2 off street parking spots." 2010 Taxes: $3,816; HOA Dues: $1,800 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/04/2011; Sold Date: 11/28/2011. (Photos and broker comments 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 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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