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Market Activity - (2) Solds,(1) Under Contract, (1) Noteworthy Price Change and Residences at Little Nell Closings: Feb.1-8, 2009

Usually I do the prior week's market recap over the weekend. I'm two days late and my apology. For photos and more mls data, here's The MLS Link to the listings discussed below.

(2) properties closed:

MLS 105527: 1050 Matchless Dr.originally priced at $2.5M, this Smuggler area townhome closed at $1.625M off its last ask of $2.05M. See last week's activity for more on this property.
MLS 103565: Little Nell Condo, 1Bdrm/1Ba, 554 sq ft, closed at $775,000 from original price of $875,000. (-11.4%). This is a small unit with possibility of enclosing a patio to add approx. 50-75 sq ft extra space, great location next to Glory Hole Park and 2-3 blocks from the Gondola. It was on the market 326 days.

(1) Under Contract:

MLS 107499: 1250 Regent St. $2.99M ask price. This is a an older 1956 home, remodeled in 1999, on a duplex lot. This is either a very rare under $3M single family home purchase within walking distance to downtown Aspen, and/or a redevelopment project - and hedge - in an 'arriviste' Smuggler area on Park Ave., a row of beautiful brand new 2006-2009 contemporary homes. It will be very interesting to see the closing price.

(1) Noteworthy Price Change:

MLS 103524: 1377 Sage Court (off Red Butte Dr) This is a beautiful brand new (2007), 9,131 sqft, home with guest house on 1 acre, in one of Aspen's only river subdivisions known for river/Rio Grande Trail proximity, Shuttle Bus access and large 1+ acre lots. Priced originally at $12M, it was reduced again last week to $6.99M (-42% from original ask) or $775 sqft (from prior ask in $7M's) making it one of, if not the, best values available.

Residences at Little Nell Closings: As listed in last weeks' Jan 23-30, 2009 Mountain Business Journal:

Three Bedroom Closings (23): Price range $1M-$1.75M.This includes a closing by a well known Madoff List individual at $1.425M)
Four Bedroom Closings (5): Price range $2.25M-$2.565M