Even though it’s an overused phrase, Mason and Morse broker Tim Estin said he’s “cautiously optimistic” ….There’s “definitely signs” that the national economy is improving, but only time will tell to what extent Wall Street’s record bonuses will affect the Aspen market, said Estin (although it’s already made an impact on the Hamptons).Other wild cards include financing and credit, and how much a seller is willing to negotiate, he pointed out. But he also points to rising local activity as a positive sign.“No longer is there a stand-off between buyers and sellers — negotiations are taking place, and categorically, there are Aspen deals for the making and unique Aspen properties — rarely if ever available — may be obtainable and within reach,” Estin wrote in a report (The Estin Report: Mid-Winter 2010 – Time to Buy? – editor) on his website. He concludes:“There’s no question, this has been a tough, very fortifying and humbling past year and a half for the local real estate market. But for the long term, there’s no other place I’d rather call home and ride out this storm than in Aspen.”
ASPEN SNOWMASS REAL ESTATE – There’s a whiff of cautious optimism in the air about the upvalley business and real estate industries, according to a real estate broker who recently developed an quasi-scientific index for measuring local confidence in those markets.
By Catherine Lutz, Mar. 8, 2010 Aspen Daily News