The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado

  The Estin Report
 
Aspen real estate intelligence ©

  

Be informed, be educated, be advised by one the town's best real estate brokers according to local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource.  Original reports and over 14,000 pages of current and archived content. Call Tim for expert guidance and counsel.

   The Estin Report
      
Aspen real estate intelligence ©

 

Be informed, be educated, be advised by one the town's best real estate brokers according to local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource. Original reports and over 14,000 pages of current and archived content. For expert guidance and counsel, please call or txt 970.309.6163.

Tim Estin

Tim Estin MBA, GRI
970.309.6163 cell + text

 



Broker Associate
Aspen Snowmass Sotheby's
International Real Estate
300 S.Spring St #100
Aspen, CO 81611

 

Aspen, CO
Mountain Standard Time 
(MST)

 

Mar 2017
Low-Down

Heading into peak
season: Mar-Apr.
Sales activity rising
significantly...
think Trump trade:
Financial markets up.
Rates rising.
Inventory declining in
most desirable areas.
Market favors sellers
in West End and
Downtown Core,
but favors buyers
outside these areas
where greater 
opportunities exist.
Two tiered
pricing levels:
1) New-built
contemporary =
> greater demand
> premium prices;
2) Everything else =
 > more days on
market

< less demand 
> more negotiable
> better possible
discounts

> more seller

motivation.

During Recession,
there was little
new construction
creating a 4-5 yr
void in new product.
New product sales

now are raising 
the comparable avgs.
whch masks realtiy
for older home

for sale where

it's tougher.

 

See 4/13/17 WSJ, 
recent article

"High End Homes for Sale...
for Years..." 

 

And 2/23/17 WSJ
on 
luxury home sales,
"High-end home sellers

across the country are

offering discounts as

luxury market softens...

Buyers are very price

sensitive...If it’s not

priced right it’s going to
sit until the cows come
home...expensive

trophy estates have

generally become

challenging to sell

to today’s ...millennial

buyers....these behemoth

trophy properties… have

become very hard to sell

to the people who can

afford them.”

 

 

(See Interest Rate Historical Chart

since 1790 and

Consumer Price Calculator)

 

 

The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado

The Estin Report: Feb 2016 Aspen Snowmass Real Estate Market Snapshot was released 03/12/2016 v10.5. in Current Reports. On Monday afternoon, 3/14/16, I made some significant changes to my "Bottom Line" comments. Please review.

The Monthly Snapshots are posted on or near the 1st Monday of the month. Two additional pages have been added to these Snapshots. They are 1) Single Family Home Sales by Aspen and Snowmass Village neighborhoods; 2) Condo Sales by Number of Bedrooms. Both contain figures based on the subject month and the most recent (3) month average.

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (02/16/16) as additional re-sale properties come on the market at significantly higher prices.

Last week's Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it's about Aspen real estate, the information should be here.

_______________________

Market Activity Week 12, March 20 - 27, 2016

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.

Closed (6)MLS#'s: 140514, 142402, 141381, 141965, 142675, 140392. This link is valid until 4/26/2016.

Under Contract/Pending (7)MLS#'s: 138966, 141934, 142105, 140146, 139686, 141477, 141635. This link is valid until 4/26/2016.

Aspen Snowmass Solds Last Week: 

MLS #140514 - Chateau Roaring Fork, Central Core, 1039 E Cooper #16, Aspen, CO: Sold Price: $1,800,000/$1,125 sq ft; furnished. More details below photos.

         

MLS #140514 - Chateau Roaring Fork, Central Core, 1039 E Cooper #16, Aspen, CO: Sold Price: $1,800,000/$1,125 sq ft; furnished. Asking Price: $1,995,000. (Original Price: $1,995,000 and 200 days on the market since 08/10/2015.) This is a 1972 built, 4 bedroom/3 bath, 1,600 sq ft condo. Broker comments are "Looking for a 4 bedroom, river-front condo in the core under 2 million? Here you go. Top-floor, split level. Perfectly livable as-is with original finishes, or great remodel opportunity to flip or enjoy." 2014 Taxes: $3,696; HOA Dues: $3,934 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/23/2016; Sold Date: 03/24/2016. (Photos and broker comments courtesy of Laura Maggos Properties)

MLS #142402 - Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue 28a, Aspen, CO: Sold Price: $1,325,000/$1,394 sq ft; furnished. More details below photos.

      

MLS #142402 - Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue 28a, Aspen, CO: Sold Price: $1,325,000/$1,394 sq ft; furnished. Asking Price: $1,350,000. (Original Price: $1,350,000 and 64 days on the market since 01/20/2016.) This is a 1969 built and 2005 remodeled, 2 bedroom/2 bath, 950 sq ft condo. This is a great ground floor corner unit in need of some upgrades but with a fantastic river presence. Broker comments are "A perfectly located two bedroom two bath Chateau Roaring Fork ground floor unit with a great rental history. This rare corner unit offers great light and amazing corner living room river views looking both across the river and upstream. Plenty of balcony square footage for outdoor entertaining. A must see in person!" 2015 Taxes: $2,496; HOA Dues: $2,768 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/01/2016; Sold Date: 03/24/2016. (Photos and broker comments courtesy of Frias Properties of Aspen)

MLS #141381 - Obermeyer Place, Central Core, 601 Obermeyer 015a 015b, Aspen, CO: Sold Price: $675,000 sq ft. More details below photos.

   

MLS #141381 - Obermeyer Place, Central Core, 601 Obermeyer 015a 015b, Aspen, CO: Sold Price: $675,000 sq ft. Asking Price: $325,000. (Original Price: $325,000 and 102 days on the market since 10/19/2015.) This is a 2008 built, 1-5 units, 866 sq ft commercial industria. An ultimate downtown Aspen Man Cave. Broker comments are "HOA Dues: 0. This is ONCE IN A LIFE OPPORTUNITY TO OWN A PRIVATE 433sq.ft or 866sq.ft GARAGE IN THE CORE!! Owner will put walls back in the garage to make 2 individual private garages. Lots of upgrades. RUNNING HOT AND COLD SINK - INTERNET- HI PRESSURE WASHING BAY WITH DRAIN. BLACK SLATE TILE. FLAT SCREENT TV'S ETC. WALL TO WALL LOCKERS. THE ULTIMATE TOY SHED!! Buy 2 units together for $725,000 or choose between 14A&B for $400,000 or 15A&B for $325.000" HOA Dues: $341. Under Contract Date: 11/16/2015; Sold Date: 01/29/2016. (Photos and broker comments courtesy of Gilliam Properties of Aspen)

MLS #141965 - Hunter Creek, Smuggler, 1127 Vine St., Aspen, CO: Sold Price: $483,500/$832 sq ft; furnished. More details below photos.

        

MLS #141965 - Hunter Creek, Smuggler, 1127 Vine St., Aspen, CO: Sold Price: $483,500/$832 sq ft; furnished. Asking Price: $525,000. (Original Price: $525,000 and 98 days on the market since 12/14/2015.) This is a 1980 built, 1 bedroom/1 bath, 581 sq ft condo. Broker comments are "Best priced 1 bedroom in Hunter Creek with great views of Ajax from the private, south facing deck and master bedroom. Hunter Creek offers some of the best amenities including outdoor pool, hot tub, and newly resurfaced artificial grass tennis courts. Low HOA dues, conveniently located on the RFTA bus route and an easy walk or bike ride into town." 2014 Taxes: $1,003; HOA Dues: $221 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/03/2016; Sold Date: 03/21/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #142675 - Aspen View, East Aspen, 326 Midland 203 Avenue 203, Aspen, CO: Sold Price: $450,000/$721 sq ft; unfurnished. More details below photos.

      

MLS #142675 - Aspen View, East Aspen, 326 Midland 203 Avenue 203, Aspen, CO: Sold Price: $450,000/$721 sq ft; unfurnished. Asking Price: $450,000. (Original Price: $450,000 and 35 days on the market since 02/15/2016.) This is a 1971 built, 1 bedroom/1 bath, 624 sq ft condo. Broker comments are "Unit overlooks common outdoor space. Great light and views of Aspen Mtn. Owners are permitted to have one cat. Not pets to renters. Winter Bicycle storage provided below the building. 6 month rental restriction" 2015 Taxes: $1,152; HOA Dues: $1,241 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/21/2016; Sold Date: 03/21/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #140392 - Pines @ Owl Creek, Vacant Lot, 270 Spruce Ridge Lane, Snowmass Village, CO: Sold Price: $3,300,000. More details below photos.

        t

MLS #140392 - Pines @ Owl Creek, Vacant Lot, 270 Spruce Ridge Lane, Snowmass Village, CO: Sold Price: $3,300,000. Asking Price: $3,500,000. (Original Price: $3,500,000 and 334 days on the market since 02/25/2015.) This is a 63,205 sq ft lot. Broker comments are "Easy building site in one of the finest ski in and out neighborhoods in the world. Large wooded lot with views, close to Aspen, Snowmass Club and Village Center. Build your dream home here exactly like you want it. With new land use codes now in affect, you can build more of a house than in the past. This lot provides click in and out ski access." 2015 Taxes: $46,193; HOA Dues: $5,700 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/20/2016; Sold Date: 03/22/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)

 

Tim Estin welcomes your business, inquiries and comments. Call him at 970.309.6163 or email him from the Contact Page. Subscribe to The Estin Report and blog on twitter @EstinAspen by clicking "Join the conversation" button below or click one of the different subscription options in banner at the top of page:

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Apr 16 - 23, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Sold (9) + Pending (8) https://t.co/QyfPwre6SL
EstinAspen April 9 - 16, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (8) + Under Contract (12) https://t.co/Rih6rSDaUl
EstinAspen Apr 2 - 9, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (14) + Under Contract (6) https://t.co/Xsunmpkcdc
EstinAspen Mar 26 - Apr 2, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (13) + Under Contract (10) https://t.co/YJXwbsLZJr
EstinAspen March 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (10) + Under Contract (13) https://t.co/SBJOs9nSAT
EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG

Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin's blog represent the opinions of the author and 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 970.309.6163 or by emailThe Estin Report is copyrighted 2016 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source: "The Estin Report on Aspen Real Estate."

_______________________________________

 

 

 

 

 

Tim Estin | www.EstinAspen.com | 970.309.6163 | 300 S.Spring St | Opposite the Aspen Art Museum

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