In my executive summary for the Estin Report 3rd Quarter 2014 State of the Aspen Real Estate Market released in Current Reports, I wrote about the anticipated Aspen building trade shortages. The Aspen Daily News picked up on the story:
From The Estin Report Q3 29014 released Nov. 5, 2014:
“Word on the street is that local tradespeople are busy—designers, architects, high-end contractors and subcontractors—and labor prices and material costs are rising. Most important, because so many skilled workers left the industry post-crisis in the past five years, an Aspen labor shortage is predicted.
The nitty-gritty from the trenches:
• City of Aspen building permit application process now requires 4-6 months versus 1-2 months in 2010 through 2013.
• Design trends are focused on contemporary style with clean lines and space for art collections (as influenced by the new Aspen Art Museum); timber homes are out.
• Buyers continue to hunt value and, when considering scrapers and remodels, seek ways to capture additional square footage to add value improving exit options.
• We’re about 8-12 months into a new cycle—not a boom, but a protracted redevelopment cycle—and it’s going to get busier.”
Link to article Nov 17, 2014 ADN
One of the (5) brand new 2014 Aspen homes currently for sale:
991 Moore Drive in the exclusive Five Trees subdivision is the highest elevation home within the City of Aspen. It is brand new construction – 2014 built – fully furnished 10,0000 sq ft home with 5 bdrms/6 ba/2 hba with a 3-car garage on 1.27 acres priced at $16,950,000. Please contact Tim Estin 970.309.6163 for additional information. (Photo courtesy of Aspen Snowmass Sothebys International Real Estate).