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The Estin Report Aspen Snowmass Real Estate Weekly Market Update: Closed (4) and Under Contract (1): Mar 4 -11, 2012

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Coldwell Banker Mason Morse Aspen broker Tim Estins complete post on the prior week's Aspen property sales is released Monday mornings at his website and at times during the week. The Estin Reports: State of the Aspen Market are available there also. These CBMM postings are condensed. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen. He welcomes your inquiries, comments and business. Call 970.920.7387 or email: testin@masonmore.com

THE ESTIN REPORT: STATE OF THE ASPEN REAL ESTATE MARKET 2011 YEAR released Jan 9, 12

Go to EstinAspen.com for executive summary and full report

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 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Market Commentary

See just posted Feb 2012 Aspen Snowmass Market Sales Charts with commentary. Going forward monthly real estate sales snapshots will be published on the 1st Monday of each month.

An article in the Aspen Business Journal three weeks ago provides an in-depth review of data and reports on Aspen real estate 2011 performance and where we are headed. It includes an interview with Tim Estin. See the Feb. 6, 12 article, "Aspen Real Estate: Improvements with Caveats in 2011".

Under Contract / Pending (1): MLS# 120366. This link is valid for 30 days until 04/11/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (4): MLS# 123765, 124567, 113946, 122173. This link is valid for 30 days until 04/11/2012.

Aspen Snowmass Solds Last Week:

MLS #123765 - Aspen, Red Mountain, Pitkin Green single family home, 999 Willoughby Way, Aspen, CO: Sold Price: $16,000,000/$1,590 sq ft unfurnished. More details below photos.

MLS #123765 - Aspen, Red Mountain, Pitkin Green single family home, 999 Willoughby Way, Aspen, CO: Sold Price: $16,000,000/$1,590 sq ft unfurnished; Asking Price: $19,950,000. (Original Price: 19,950,000 and 77 days on the market since 12/28/2011 although it had been privately marketed since the summer.) This is a 2005 built, 7 bedroom/7 bath/1 half bath, 10,060 sq ft single family home with 3 car garage. Broker comments are, "This exceptional home is located in the prestigious Pitkin Green area of Aspen. The unique property enjoys panoramic views of Aspen, Highlands and Buttermilk ski mountains as well as Independence Pass. The large flat site is a rarity in the Pitkin Green neighborhood and offers serenity only a few minutes from the heart of downtown Aspen. Abundant amenities include a theater, wine room, large recreation room with access to the exceptional landscaped garden and extensive stone paved decks. Expansive outdoor entertainment areas include a barbeque, fireplace, fire pit, Jacuzzi and rock sided stream. The generous master suite includes a wood paneled library, large walk in closets and two fireplaces. Details and Amenities Seven bedrooms, seven baths, two half bath." 2010 Taxes: $29,106. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/01/2012; Sold Date: 03/01/2012. (Photos and broker comments courtesy of Joshua & Co.)

MLS #113946 - Snowmass Village, Wood Run Place condo, 425 Wood Run Road, Snowmass Village, CO: Sold Price: $1,725,000/$991 sq ft furnished. More details below photos.

MLS #113946 - Snowmass Village, Wood Run Place condo, 425 Wood Run Road, Snowmass Village, CO: Sold Price: $1,725,000/$991 sq ft furnished; Asking Price: $1,995,000. (Original Price: $2,900,000 and 1,080 days on the market since 08/28/2008.) This is a 1983 built/2008 remodeled, 3 bedroom/3 bath/1 half bath, 1,739 sq ft condo with assigned underground parking. Broker comments are, "Step right out, literally, of your front door onto the slopes from this beautifully remodeled 3 bedroom/3.5 bath condominium with custom design and exceptional decor. This unit has been completely remodeled in 2008 from the studs with the finest of finishes. Offered completely furnished. Convenient to both the Snowmass Village Mall and new Base Village with direct ski access to Fanny Hill. Assigned underground parking. Hiking and biking trails abound out your door in the summer time. It's hard to resist." 2011 Taxes: $4,176; HOA Dues: $27,143 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/03/2012; Sold Date: 03/08/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's.)

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 Real Estate. They should not be relied upon exclusively to make real estate decisions. A potential buyer 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 testin@masonmorse.com. The Estin Report is copyrighted 2012 and all rights reserved. Use is permitted subject to the following attribution: "The Estin Report: State of the Aspen Market, By Aspen broker Tim Estin, mba, gri."

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