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The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (5) and Under Contract (5): Mar 18 - 25, 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 AND 4TH QUARTER released Jan 9, 2012

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

On Sat. March 17th, the Fox Crossing auction was held. A condo listed near $4.1M and three $2M lots were auctioned. The condo is apparently under contract as is one of the lots. See below for more info on the auction, and call me if you'd like more specific information. These two properties are scheduled to close in 30 days.

See recently posted Feb 2012 Aspen Snowmass Market Sales Charts with commentary. Going forward monthly 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 (5): MLS# 112798, 118464, 124477, 121525, 123040. This link is valid for 30 days until 04/25/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5): MLS# 117573, 114062, 116968, 120089123644. This link is valid for 30 days until 04/25/2012.

Select Aspen Snowmass Solds Last Week:

MLS #117573 - Aspen, Central Core single family home, 214 W. Cooper Avenue, Aspen, CO: Bank sale - Sold Price: $4,450,000/$917 sq ft unfurnished. More details below photos.

MLS #117573 - Aspen, Central Core single family home, 214 W. Cooper Avenue, Aspen, CO: Sold Price: $4,450,000/$917 sq ft unfurnished; Asking Price: $4,700,000. (Original Price: $11,500,000 and 1,763 days on the market since 10/06/2008.) This is a bank sale. Buyers shown this property frequently commented that they felt it required $500,000 - $1M in upgrade costs above the purchase price. This is a 1978 built/2007 spec remodel, 5 bedroom/5 bath/1 half bath, 4,849 sq ft single family home with 1 car garage. The List broker comments are, "This fabulous 5 bedroom home is perfectly situated right in the core of Aspen with unmatched views of Aspen Mountain! Perfect for the family offering two separate living areas, a billiards/media room, wet bar, 3 fireplaces, patio and deck, a small 1 car/storage area, elevator, hot tub and beautiful finishes." 2010 Taxes: $16,545. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/25/2010; Sold Date: 03/16/2012. (Photos and broker comments courtesy of McKinley Sales.)

MLS #116968 - Snowmass Village, Melton Ranch single family home, 155 Sinclair Road, Snowmass Village, CO: Sold Price: $2,000,000/$585 sq ft furnished. More details below photos.

MLS #116968 - Snowmass Village, Melton Ranch single family home, 155 Sinclair Road, Snowmass Village, CO: Sold Price: $2,000,000/$585 sq ft furnished; Asking Price: $2,495,000. (Original Price: $2,995,000 and 678 days on the market since 06/21/2010.) This is a 1977 built/2004 remodeled, 4 bedroom/3 bath/1 half bath, 3,413 sq ft single family home with 2 car garage. The upstairs open living /kitchen/dining area with a two-sided fireplace and surrounded by Snowmass Mountain views is spectacular. This was a very popular and frequently shown listing. Broker comments are, "Located on the free shuttle route 2 minutes from the mountain, this home was virtually rebuilt in 2004 with new everything and is in immaculate condition. The 180-degree views from every room showcase Snowmass Mt., Snowmass Golf Course, Burnt Mt., Aspen Mt. and the Hunter Creek Valley. Extensive landscaping, high-end custom finishes, and its private location make this home a joy to show! Great value." 2011 Taxes: $7,079; HOA Dues: $200 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/16/2012; Sold Date: 03/23/2012. (Photos and broker comments courtesy of SDS Real Estate, Inc.)

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 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 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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