New York Times, January 13, 2008 By Amy Virshup ON our first morning at Copper Mountain Resort, I watched as my 8-year-old son cut his first tracks through the powder on Vein Glory, a beginner slope below the High Point chair. “I live for this!” he shouted back to me as he bombed down the hill in a “pizza” stance, rarely bothering to turn. Read More
Pitkin County real estate sales dip in 2007. Fourth quarter sales lowest since first quarter 2006. By Rick Carroll, Jan 3, 2008, Aspen Times Click here to view full article… Read More
By Brent Gardner-Smith, Jan 2, 2008, Aspen Daily News
For Aspen’s gold-plated economy to continue to purr along in 2008, thousands of wealthy people will need to once again decide to build or buy large expensive Homes, entertain lavishly in those homes, purchase luxury goods such as jewelry and art, and continue to spend freely in the local resort marketplace.
While there are signs that some Americans may now be hesitating before making such decisions, there may be other off-setting factors, including the fact that even Aspen’s real estate prices may now look like a bargain to European consumers.
Designing, approving, building, selling, buying, maintaining and using large luxury homes in Aspen, Snowmass Village and Pitkin County is the main economic engine of the Roaring Fork Valley.
And one of the leading indicators for that sector of the economy is real estate sales.
It appears as if 2007 will have produced the second largest sum of real estate sales in Pitkin County, just behind 2006. In 2006, a record $2.4 billion worth of real estate in Pitkin County changed hands.
Through November 2007, there was $2.3 billion in real estate sales recorded, according to Land Title Guarantee Co.
And it appears as if 2008 might bring a slight chill to the local market, which is still very robust, if not surreal.
Consider that just five years ago, the amount of annual real estate sales in Pitkin County was “only” $1.2 billion.
“We’ve seen a weakening in the numbers of sales and in dollar volumes compared to where we were in 2006,” said Randy Gold, the president and owner of Aspen Appraisal Group Ltd., who recently completed a year end analysis of the Aspen and Snowmass Village real estate markets. “2006 will probably remain the record year, but so what? It doesn’t mean that 2007 was bad and it doesn’t mean the 2008 will be bad.” Read More
By Brent Gardner-Smith, 01/02/2008, Aspen Daily News For Aspen's gold-plated economy to continue to purr along in 2008, thousands of wealthy people will need to once again decide to build or buy large expensive homes, entertain lavishly in those homes, purchase luxury goods such as jewelry and art, and continue to spend freely in the local resort marketplace. Read More
The ‘Next Aspen’: Part V By David Frey, 1-02-08 Where do I look for the soul of Aspen? Among the snowboarders chowing greasy sandwiches at Johnnie McGuire’s deli? In Gucci, where handbags sell for thousands? At the foot of Aspen Mountain, where fans rings cowbells to cheer women’s… Read More
The ‘Next Aspen’: Part IV By David Frey, 1-01-08 Jackson Hole, Wyo., has tried hard to cling to its Western heritage, even as it becomes an international playground for the super-wealthy. Boardwalks still line the streets and echo with a satisfying thud under foot. The downtown is lined… Read More