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The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (8) and Under Contract (6): Apr 22 - 29, 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

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

Click image for executive summary and full report pdf

The Estin Report: Q1 2012 State of the Aspen Market Published 4/22/12

Under Contract / Pending (6): MLS #This link is valid for 30 days until 05/29/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (8): MLS# 121251, 123961, 118805, 121936, 121797, 125210, 118464, 125158. This link is valid for 30 days until 05/29/2012.

Aspen Snowmass Solds Last Week:

MLS #118464 - Aspen, West Aspen, Castle Creek single family home, 927 Castle Creek Road, Aspen, CO: Sold Price: $4,600,000/$1,120 sq ft partially furnished. More details below photos.

MLS #118464 - Aspen, West Aspen, Castle Creek single family home, 927 Castle Creek Road, Aspen, CO: Sold Price: $4,600,000/$1,120 sq ft partially furnished; Asking Price: $5,900,000. (Original Price: $18,950,000 and 1,974 days on the market since 10/16/2006. The is an extreme example of unrealistic pricing from the get-go colliding with the economic crisis in the fall 2008. This is a beautiful riverfront property with an older refurbished home. The market then, and now, will not support excessive pricing of older product...not when newer spec built homes can be purchased at discount pricing. There is, however, a premium for riverfrontage properties but just how much that is, we are only now starting to get a real sense of.) This is a 1982 built/2006 remodeled, 4 bedroom/5 bath/1 half bath, 4,107 sq ft single family home on 19.48 acres with 2 car garage. Broker comments are, "Stunning 4 bed/5.5 bath home directly on Castle Creek with views towards the Highlands Bowl and unrivaled privacy. Located on a secluded and pristine 19 acre site with mature flower and herb gardens, as well as, a generous yard surrounded by dramatic moss covered boulders fronting an incredible stretch of Castle Creek just minutes to downtown Aspen. Updated and luxurious master suite with his and hers custom bathrooms and walk-in closets, generous guest suites and open kitchen, dining and great room area round out this rare and charming estate. Ask listor about current lot line adjustments." 2011 Taxes: $13,073. Under Contract Date: 03/22/2012; Sold Date: 04/20/2012. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #118805 - Aspen, Central Core, Ute Place single family home, 17 Ute Place, Aspen, CO: Sold Price: $6,300,000/$879 sq ft unfurnished. More details below photos.

MLS #118805 - Aspen, Central Core, Ute Place single family home, 17 Ute Place, Aspen, CO: Sold Price: $6,300,000/$879 sq ft unfurnished; Asking Price: $6,950,000. (Original Price: $12,950,000 and 1,348 days on the market since 0/16/2008. Well located but dated home in the beautiful Aspen core Ute Place Subdivision.) This is a 1988 built, 6 bedroom/6 bath/1 half bath, 7,166 sq ft single family home with 2 car garage on 0.69 acres. Broker comments are, "Spacious and graceful home with vaulted ceiling living room in an ideal location within walking distance to gondola, shops and restaurants. Concierge on site for services which include free shuttle to Aspen ski mountain and Ruby Park bus station during ski season." 2011 Taxes: $19,995; HOA Dues: $18,600 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/28/2012; Sold Date: 04/25/2012. (Photos and broker comments courtesy of Joshua & Co.)

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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