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Last Week’s Market Highlights – Aspen and Snowmass Real Estate Sales and Under Contract Activity: Last Week’s Aspen and Snowmass Real Estate Sales and Under Contract Activity: Last week’s real estate sales activity appears below for the upper Roaring Fork Valley for all property types over $250,000 excluding fractionals in Aspen, Snowmass Village, Woody Creek and Old Snowmass (although Residences at Little Nell and Dancing Bear are included due to their higher fractional price points). Because the MLS links below expire after 30 days, photos and written descriptions of the closed properties are posted to keep an archive of sold market activity.

Spreadsheet Summary of Last Week’s Aspen Real Estate Sales and under contract activity, see The Estin Report: Aspen Snowmass Weekly Sales Statistics, Dec. 12 – Dec. 19, 2010

Closed (6):MLS#s 111504, 114065, 113465, 104135, 116558, 116397. This link to MLS Photos and property details is valid for 30 days until 1/18/2011.

MLS # 116397 – East Aspen single family home in Morningstar Subdivision, 131 Popcorn Ln, Aspen, CO: Sold Price: $4,550,000/$918 sq ft; Ask Price: $4,895,000. (Original price: $7,250,000 and 571 days on the market since 6/24/09.) This is a French Chateau inspired 2008 built home with 3 bedrooms/4 baths /and 2 half baths, 4955 sq ft on 2.2 acres with pond and waterfall. The listing broker remarks are, “Stunning European chateau located on over 2 acres with total privacy, water rights, large pond with waterfall, dock for fishing & swimming, and separate custom-built wooden playhouse. Features include 3 bedrooms, 4 full baths, 2 half-baths, 4955 square feet, geothermal wells for heating & cooling, unique floor plan, quality finishes, hardwood floors, vaulted ceilings, multiple gas fireplaces, and a 2 car garage. Located in the exclusive Morningstar subdivision, which is adjacent to the North Star Preserve & National Forest land and on the banks of the Roaring Fork River – just a seven minute scenic drive to the downtown core of the quintessential mountain resort town of Aspen, yet a world away.” 2009 Taxes: $16,277; HOA Dues: $3437 per qtr. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty). See link to brochure for a beautiful North Star Preserve view lot overlooking the 310 acre nature preserve for sale with development rights approved for a 10,750 sq ft home.

MLS # 104135 – (2) vacant lots 1.5 miles up Castle Creek Rd, Hardy Subdivision, 507-405 Hardy Rd, Aspen, CO: Sold Price: $6,500,000; Ask Price: $7,900,000. (Original Price $10,000,000 and 1,012 days on the market since 03/06/2008). Two lots sold at 31 and 26 acres each with development rights to fall 2011 for 7,000 sq ft homes on each with right s to build agricultural buildings (barns, etc.) because lots are over 20 acres, I believe. This should be verified. The listing broker writes, “One of Castle Creek’s most desirable settings featuring ideal southern exposure and awesome views of Mt Hayden and the Aspen Highlands Bowl …The expansive 57 acre wooded site overlooks Castle Creek and offers maximum sun from the widest segment of Castle Creek Valley. There are two lots and they can be purchased separately or together.50% owner financing available.” 2009 Taxes: $36, 681 Yr. (Photos and description courtesy of Chaffin Light Real Estate Aspen).

MLS # 113465 – Fifth Avenue Condominium, downtown at Aspen Mountain Base, 800 S Mill Street #103 Aspen, CO: So;d Price: $950,000/$674 sq ft; Ask Price: $950,000. (Original Price: $1,125,000 and 428 days on the market since 10/15/09). This is a certifiable deal in my mind – 2 large bedroom/3 baths, 1,410 sq ft built 1969/ remodeled 1999 with lots of volume throughout and recently remodeled. Listing broker writes, “Large two bedroom plus loft, 3 bath condo. 14 foot living room ceilings, nice decor, washer/dryer & furnished with some exclusions.” 2009 Taxes:$4,515 Yr; HOA Dues: $4,297 Qtr. Under Contract Date: 11/05/09; Sold Date: 12/17/10.City of Aspen RETT transger tax of 1.5% applies to buyer. (Photos and description courtesy of BJ Adams and Company).

MLS #116558 – Gant Condominium, full amenity Aspen condo complex, 610 S. West End St, Aspen, CO
: Sold Price: $1,150,000/$1,179 sq ft; Ask Price: $1,295,000. (Original price: $1,750,000 and 751 days on the market since 02/27/09). This is a 2 bdrm/2 bath, 975 sq ft, 2009 remodeled Gant condo. The listing broker writes, “Highly sought after top floor 2 bedroom in the prestigious B building, newly remodeled. In a park like atmosphere just 3 blocks from the center of Aspen activities. Price reduced from $1,750,000.” 2009 Taxes: $4,062; HOA Dues: $20,623 Yr. City of Aspen RETT transfer tax of 1.5% payable by buyer. Under contract date: 11/11/10; Sold Date: 12/16/10. (Photos and description courtesy of Carol Dopkin Real Estate).

MLS # 114065 – ski-in/out Snowmass, Crestwood Condominiums, 400 Wood Road 1121 Snowmass Village, CO. Sold Price: $770,000/$769 sq ft; Ask Price: $895,000. (Original Price $1,350,000 and 1,075 days on the market since 11/21/07).This is a 2 bedroom/ 2 bath, 1,008 sq ft condo locate, directly on the ski slope, built in 1970/ remodeled 2005 in anticipation of the new Snowmass Base Village completion in 2011. The listing broker writes, ” Fantastic location in the Crestwood – ground floor, corner unit that literally steps out onto the ski slope, directly adjacent to the ski bridge to Base Village and the gondola. Rated VIP and completed remodeled, this two bedroom is light and spacious and enjoys sweeping views of the valley. Great rental property.” 2009 Taxes: $2,674 Yr; HOA Dues: $15,523 Yr. Under Contract Date: 10/27/10; Sold Date: 12/10/10. Town of Snowmass Transfer Tax of 1% payable by buyer. (Photos and description courtesy of Chaffin Light Real Estate Snowmass Village.)

MLS # 111504 – Hunter Creek Condominium, 414 Vine Street Aspen, CO: Sold Price: $635,000/$723 sq ft; Ask Price: $749,000. (Original Price $825,000 and 562 days on the market since 5/26/09). This is a 2 bedroom/ 2 bath, 878 sq ft condo on the Aspen bus shuttle line and within walking distance to Smuggler Mountain, parks, services and downtown Aspen. The listing broker writes, “414 Vine Street Aspen, CO”. Under Contract Date: 10/26/10; Sold Date: 12/09/10. (Photos and description courtesy of Mason Morse Real Estate).

Under Contract / Pending (6): MLS #’s 118340, 114875, 106251, 118862, 112300, 111897. This link to MLS Photos and property details is valid for 30 days until 1/18/2011. Photos and details of under contract properties are not posted unless special circumstances warrant.

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Disclaimer: The statements made in The Estin Report and on 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 970.920.7387 or by email.. The Estin Report is copyrighted 2010 and all rights reserved.. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri,”