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 Nov 2016 YTD Aspen Snowmass Real Estate Market Snapshot will be posted late Tues Dec 19th.  The Oct 2016 Snapshot was posted on Mon Nov 7th in Current ReportsThe Monthly Snapshots are usually posted on or near the 1st Monday of the month. 

Oct 2016 Market Snapshot excerpt:

"Oct ‘16 is down considerably compared to the same time last year - as was Sep ‘16. Demand (sales) is way off; supply (inventory of properties for sale) is increasing. Prices, with the exception of unique and like-new properties, are trending downward especially as sellers seasonally adjust downward to post-summer, pre-winter realities and greater motivation sets in. An average 5-10% discount to ask price is common, and in some cases more. Pages 7 and 9 of this Market Snapshot identify sales by Aspen and Snowmass Village location/neighborhood with average sales to ask and original price discounts.

The time of maximum uncertainty is often the best time to get into the market. There have been some great buys in the past two months, and buyers would do well to dig deep, find motivated sellers and pull the purchase trigger. This "down" year is not going to last indefinitely and many believe there will be a post-election turnaround sooner than later."

The Estin Report: 2nd Quarter and 1st Half 2016 State of the Aspen Real Estate Market with narrative, charts, tables photos was posted in Current Reports as PDF (v6.6) July 20. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport. 

 

072016 Q2 H1 2015 Estin Report State of the Aspen Market cover final 96Res 350wX457

 

Click cover above for Exec. Summary and full 28-Pg Report PDF

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info Section at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (05/16/16) as additional re-sale properties come on the market at significantly higher prices.

___________


Market Activity Week 50, December 11 - 18, 2016

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr 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.  Scroll down the page for home 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 quickly find 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.


Closed (6):  MLS#s 140890, 135793, 131717, 140131, 144720, 144957. This link is valid until 1/17/2017.

Under Contract/Pending (8)MLS#s 141642, 120988, 145208, 139448, 139835, 143372, 144582, 146871 This link is valid until 1/17/2017.

 

Aspen Snowmass Solds Last Week:  

MLS #140890 - West End Vacant Lot, Tbd Smuggler Street, Aspen, CO. Sold Price: $1,750,000. More details below photos.
Aspen real estate 121816 140890 Tbd Smuggler Street 1 590W  Aspen real estate 121816 140890 Tbd Smuggler Street 2 590W  Aspen real estate 121816 140890 Tbd Smuggler Street 3 190H Aspen real estate 121816 140890 Tbd Smuggler Street 4 190H  Aspen real estate 121816 140890 Tbd Smuggler Street 5 190H Aspen real estate 121816 140890 Tbd Smuggler Street 6 190H
MLS #140890 - West End Vacant Lot, Tbd Smuggler Street, Aspen, CO. Sold Price: $1,750,000. Asking Price: $1,995,000. (Original Price: $2,850,000 and 460 days on the market since 09/02/2015.) This is a 6,619 sq ft single family vacant lot. Broker comments are "Gorgeous 6,619 square foot lot in the West End without historical restriction. It’s an easy walk or bike ride to downtown Aspen, and there is a nearby free shuttle to the ski mountains in the winter. Imagine your dream home and enjoy all that Aspen has to offer from this amazing location just 3 blocks from the Aspen Institute & Music Tent. Views of Aspen Mountain are a bonus. Great opportunity for under $2 million." 2015 taxes: $14,759. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/20/2016; Sold Date: 12/12/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #131717 - West Aspen Vacant Land - Tbd Castle Creek Road, Aspen, CO. Sold Price: $1,250,000. More details below photo.
Aspen real estate 121816 131717 Tbd Castle Creek Road 1 590W 
MLS #131717 - West Aspen Vacant Land, Tbd Castle Creek Road, Aspen, CO. Sold Price: $1,250,000. Asking Price: $1,425,000. (Original Price: $1,700,000 and 2,903 days on the market since 07/01/2006.) This is a 20.66 acres single family vacant lot. Broker comments are "“Cora May I & II”... 20 Acres in Castle Creek Valley. Driveway into partial building site. Newly vested right for up to 10,000 sq. ft. build-out. Dramatic views up and down Castle Creek valley. Forested privacy residential lot just 7 miles from Aspen Roundabout." 2012 taxes: $ 23,305. Under Contract Date: 10/31/2016; Sold Date: 12/15/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #135793 - Aspen Alps Condominiums, Central Core, 700 Ute Avenue 104, Aspen, CO. Sold Price: $1,200,000/$1,061 sq ft; furnished. More details below photos.
Aspen real estate 121816 135793 700 Ute Avenue 104 1 590W  Aspen real estate 121816 135793 700 Ute Avenue 104 2 190H Aspen real estate 121816 135793 700 Ute Avenue 104 3 190H  Aspen real estate 121816 135793 700 Ute Avenue 104 4 190H Aspen real estate 121816 135793 700 Ute Avenue 104 5 190H
MLS #135793 - Aspen Alps Condominiums, Central Core, 700 Ute Avenue 104, Aspen, CO. Sold Price: $1,200,000/$1,061 sq ft; furnished. Asking Price: $1,250,000. (Original Price: $1,395,000 and 735 days on the market since 08/19/2014.) This is a 1963 built, 2 bedroom/2 bath, 1,130 sq ft condo. Broker comments are "The Aspen Alps is a first class setup in a prime location, at the base of Aspen Mountain Gondola – even by Aspen standards. This two bedroom condo enjoys all the perks one could hope for including the renowned Alps on-site management and services, swimming pool just below the south-facing deck, Alps fitness center and spa, skiing a stone’s throw away and all the great shopping and restaurants around the corner. Reserved parking, laundry in the condo, two full bathrooms and extra storage round out the wish list at this classic Aspen condo. Enjoy!" 2014 taxes: $2,956; HOA Dues: $1,766 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/07/2016; Sold Date: 12/16/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #144957 - 20 & 40 Waterstone Way, Woody Creek, CO. Sold Price: $8,250,000/$1,121 sq ft; furnished. More details below photos.
Aspen real estate 121816 144957 20 and 40 Waterstone Way 1 590W  Aspen real estate 121816 144957 20 and 40 Waterstone Way 2 590W  Aspen real estate 121816 144957 20 and 40 Waterstone Way 3 190H Aspen real estate 121816 144957 20 and 40 Waterstone Way 4 190H  Aspen real estate 121816 144957 20 and 40 Waterstone Way 5 190H Aspen real estate 121816 144957 20 and 40 Waterstone Way 6 190H  Aspen real estate 121816 144957 20 and 40 Waterstone Way 7 190H Aspen real estate 121816 144957 20 and 40 Waterstone Way 8 190H
MLS #144957 - 20 & 40 Waterstone Way, Woody Creek, CO. Sold Price: $8,250,000/$1,121 sq ft; furnished. Asking Price: $9,900,000. (Original Price: $7.75M and on the market at various prices since 3/1/2009. An adjacent property at 30 & 50 Waterstone (#141118) sold in spring 2016 at $5.5M/$1,279 sq ft - a 4 bdrm/4.5ba, 3,286 sq ft smaller home with older caretaker home on an upper land shelf included - total 4,300 sq ft . In spring 2014, these two contiguus properties were offered together as a famiy compound at $21.5M.) This is a 2015 built, 5 bedroom/5 bath/1 half-bath, 7,356 sq ft single family residence with a 3 car garage on a 2.24 acres riverfront lot. Broker comments are "Brand new home set on over 2 acres of historic Roaring Fork riverfront. This home is a mountain modern sanctuary with two luxurious master suites, cedar heart siding, walnut floors and doors, floor to ceiling Lowen glass doors, 3 car garage, expansive red balau decks, & Rae all above grade living. Hand forged custom fire pit, hot tub overlooking the river, wet bar, 3 fireplaces. Fabulous indoor/outdoor entertaining and perfect layout for family living." 2015 taxes: $11,878. Under Contract Date: 10/25/2016; Sold Date: 12/15/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #140131 - Horse Ranch, 48 Spur Ridge Lan, Snowmass Village, CO: Sold Price: $1,850,000/$538 sq ft; furnished. More details below photos.
Aspen real estate 121816 140131 48 Spur Ridge Lane 1 590W  Aspen real estate 121816 140131 48 Spur Ridge Lane 2 590W  Aspen real estate 121816 140131 48 Spur Ridge Lane 3 190H Aspen real estate 121816 140131 48 Spur Ridge Lane 4 190H  Aspen real estate 121816 140131 48 Spur Ridge Lane 5 190H Aspen real estate 121816 140131 48 Spur Ridge Lane 6 190H
MLS #140131 - Horse Ranch, 48 Spur Ridge Lan, Snowmass Village, CO: Sold Price: $1,850,000/$538 sq ft; furnished. Asking Price: $1,995,000. (Original Price: $2,195,000 and 517 days on the market since 07/17/2015.) This is a 1995 built, 3 bedroom/3 bath/2 half-bath, 3,436 sq ft singe family residence with 2 car garage on a 19,300 sq ft lot. Broker comments are "Excellent opportunity to entertain and unwind in the heart of Horse Ranch. Just steps to the Rim Trail and minutes from the slopes, the property provides ample access to the best of the Snowmass. Decks, hot tub, yards and open living spaces provide for relaxed mountain living. Within the the Aspen School district." 2015 Taxes: $6,887; HOA Dues: $190 per Yr. Under Contract Date: 10/01/2016; Sold Date: 12/15/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
 
MLS #144720 - Meadow Ranch, 153 Meadow Ranch F-1-C, Snowmass Village, CO: Sold Price: $710,000/$552 sq ft; unfurnished. More details below photos.
Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 1 590W  Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 2 590W  Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 3 190H Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 4 190H  Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 5 190H Aspen real estate 121816 144720 153 Meadow Ranch F 1 C 6 190H
MLS #144720 - Meadow Ranch, 153 Meadow Ranch F-1-C, Snowmass Village, CO: Sold Price: $710,000/$552 sq ft; unfurnished. Asking Price: $739,995. (Original Price: $779,995 and 179 days on the market since 06/14/2016.) This is a 1976 built and 2015 remodeled, 2 bedroom/1 bath/1 half-bath, 1,284 sq ft townhouse. Broker comments are "Newly remodeled 2 bedroom, 2 bath condominium in the Meadow Ranch neighborhood. Quiet location away from Owl Creek Road. Great family location close to the little red school house and a short walk to public transportation. Open floor plan with high ceilings, granite countertops and stainless steel appliances. Perfect for a first time homebuyer or small family." 2016 Taxes: $2,131; HOA Dues: $6253+1500 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/01/2016; Sold Date: 12/16/2016. (Photos and broker comments courtesy of Aspen Associates Realty)

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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