Tim Estin is an active Aspen real estate broker with Mason Morse Real Estate located in the center of Aspen opposite Little Annie’s Restaurant. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly, annually and also special reports. For blog archives, scroll down to bottom of this page and search by date or topic. Search this site by Aspen and Snowmass topic in SearchEstinAspen.com in the menu bar. Follow @EstinAspen on twitter for Aspen Snowmass real estate news, market updates, statistics, commentary and reports or subscribe to RSS feeds.

Since Jan 31st, there have been (6) big money Aspen real estate transactions over $14MM: Five (5) of these have occurred in the past 10 days alone with (3) closings and (2) going under contract; an Old Snowmass 200+ acre ranch went under contract on 2/18 with an ask price of $14MM; the sixth sale was Sony record impresario Tommy Mottola’s Aspen Wildcat Ranch which sold at the end of January for $17,750,000. See The Estin Report: 02/19/11 Aspen Real Estate Market Update, with two key Aspen trend graphs, MLS property links, photos and descriptions of these transactions.

Last Week’s Market Highlights – Aspen and Snowmass Real Estate Sales and Under Contract Activity: Last week’s real estate sales and market 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 preserve an archive of sold market activity.

Spreadsheet Summary of Last Week’s Aspen Real Estate Sales Statistics, see The Estin Report: Aspen Snowmass Weekly Sales Statistics, Feb.13 – 20, 2011

Under Contract / Pending (10): MLS# 117532, 118360, 118532, 116200, 116375, 119473, 116696, 119213, 116816, 109853, 119008 This link is valid for 30 days until 3/22/2011. Photos and descriptions of under contract properties are not posted unless special circumstances dictate.

Closed (8): MLS #’s 111509, 118696, 119101, 118100, 119815, 115207, 119008, 119791 This link is valid for 30 days until 3/22/2011.

MLS # 119008 – 570 Epply Drive, Starwood Subdivision, Aspen, CO; Sold Price: $19,537,000/$1,332 Sq ft; Ask Price: $19,750,000/$1,347 sq ft. (This property has been on/off the market for 893 day since 2/19/08 and was originally listed at $27,500,000.) This 14,688 sq ft home was built 1985/remodeled 2008 and has spectacular and unique Starwood 270 degree panoramic views to the east/Independence Pass, of town and to the west towards Mount Sopris. It has 6 bedrooms/6 baths/2 half baths and a 3-car garage on 4 steep hillside acres. The list broker writes, “SkyRidge…at Starwood captures the essence of the Colorado Rockies and boasts arguably the most awe-inspiring unencumbered views of any estate in North America. This visionary mountain contemporary home is newly rebuilt with technological savvy, incredible attention to detail and extravagant finish quality. This is Aspen’s most monumental and peerless View Estate. Previously listed at $27,500,000.” 2009 Taxes: $43,875; HOA Dues: $924 Yr. Under Contract Date: 1/30/11; Closed 2/18/11. (Photos courtesy of Mason Morse Real Estate)

MLS 111509 – 875 Star Mesa, Aspen, CO: Sold Price:$16,000,000/$1,160 sq ft; Ask Price: $21,000,000. (Original Price $32,000,000 and on the market 615 days since 06/10/2009). This is a new 2009 built 6 bedroom/7bath/2 half bath soft contemporary 13,786 sq ft home with spectacular high mountain panoramic views. The list broker comments are, “Extraordinary estate on 40 private horse friendly acres just 10 minutes from down town Aspen. Spectacular panoramic views of Aspen ski area. Newly built 15,000 SF modern chic home by award winning Charles Cunniffe Architects and Donna Guerra Interior Design. Includes wine room, theatre, office, gym with sauna and steam, game room, private luxury guest apartment, elevator, 6 car garage, & outdoor heated eating area with built-in grill and fire pit. Spectacular entertaining house with sliding glass doors that open onto 6000+ SF of stone patios and magnficent views. Infinity edge pool & 2 hot tubs with auto-retracting covers. Pond, waterfall, pastures for horses. Features ”green” 10 KW solar panel system & ”smart house” fully integrated technology operable remote or web access.” 2008 Taxes: $17,568; HOA Dues: TBD. Under Contract Date: 02/03/11; Sold Date: 02/15/11. (Photos courtesy of Morris & Fyrwald/Sotheby’s International RE).

MLS # 118696 – single family home in Mtn Valley Subdivision, 17 Mountain Laurel Court, Aspen, CO: Sold Price: $5,500,000/$823 sq ft; Ask Price: $5,995,000.(Original Price: $8,500,000 and on the market 1509 days since 5/15/08).This is a spec home completed at the tail end of the boom and unfortunately is a classic example of bad timing and riding the market down. This is a 2008 built 6,588 sq ft home with 6 bedrooms/6 baths/ 1 half bath and 3-car garage on .36 acres in a residential neighborhood. The broker writes, “SELLER’S LOSS = BUYER’S OPPORTUNITY! PRICED TO SELL AT 30% (70 CENTS ON THE DOLLAR!)BELOW SELLER’S BREAK-EVEN PRICE. Located just 5 minutes to the Gondola & downtown Aspen, this gorgeous new home melds timeless style with state of the art custom finishes. Luxurious amenities include; sumptuous bedroom suites, wine cellar, gym/media rm, huge family room, elevator & much more. Great home for entertaining on a property that offers both privacy & terrific views of Aspen Mtn. When you don’t want to drive your guests around, there’s a convenient shuttle service to/from town. Visit this home & you will immediately feel the difference from ordinary spec homes; lovingly crafted with only the highest quality materials and workmanship that is unparalleled! The seller says, ‘Get it sold today.’ ” 2009 Taxes: 15,564 Yr. Under Contract Date: 1/20/11 ; Sold Date: 2/18/11.(Photos and description courtesy of Lane Schiller Properties).

MLS # 115207 – Single family home in Wildridge Subdivision, 1065 Sinclair Rd, Snowmass Village, CO: Sold Price: $3,075,000/$785 sq ft;
Ask Price: $3,325,000/$848 sq ft. (Original price: $3,595,000 and on the market 343 days since 03/09/10). This is a soft contemporary 2009 built 3,922 sq ft home with 4 bedrooms/5.5 baths and a 2-car garage with stunning Snowmass Ski Mountain views. The broker comments, “Extraordinary unobstructed views from Snowmass Ski Area south to Aspen Mountain east, 3-tiered deck with 6-person hot tub. Abuts Snowmass HOA open space and the Rim Trail. Entire re-build completed in 2009. Lower level den can be converted to a 5th bedroom. Driveway coiled for snowmelt and main level equipped for auxilary air conditioning. Radiant heat throughout.” 2010 Taxes: $2,952 Yr; HOA Dues: $100 Yr. Under Contract Date:12/30/10; Sold Date: 02/16/11.(Photos and description courtesy of Aspen Signature Properties).

MLS # 119101 – single family home in Gateway Subdivision, 407 Gateway Road Snowmass, CO: Sold Price: $465,000/$205 sq ft
; Ask and Original Price: $500,000/$221 sq ft. on the market 59 days since 12/13/10. This is a 1995 built, 2,264 sq ft, 2 bedroom/2bath home with a 1-car garage. The broker writes, “Expansive views and quality finishes make this Gateway home a fantastic buy in today’s market. Located 20 minutes from all Aspen has to offer and only 10 minutes from your downvalley shopping needs. This home does not need to be remodeled thus at 500K is THE Best Buy in the Mid Valley market. Hardwood floors, central A/C and stainless appliances set this home apart from the rest. Enjoy your expansive master suite while sitting in from of the fireplace.” 2009 Taxes: $6,907 Yr; HOA Dues: $500 Qtr. Under Contract: 12/31/10; Sold Date: 02/11/11. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty).

MLS # 119815 – Capitol Peak Condominium, 60 Carriage Way #3221 Snowmass Base Village, CO: Sold Price: $825,000/$820 sq ft; Ask Price: $1,195,000/$1,188 sq ft. (Original Price: $1,385,000 and 840 days on the market since 12/24/08). This is 2008 2-bedroom 1,006 sq ft condo unit in the new Snowmass Base Village which sold out/fully under contract pre-construction in spring 2005.All Capitol Peak and Hayden Lodge units closed towards the end of 2007 and into 2008. As the economy turned, the fate of the Base Village plummeted as well. This is the first Capitol Peak 2-bdrm sale since 11/17/08 when the last unit to trade sold at $948,635/$937 sq ft on 11/17/08. The broker comments are, “best 2-bedroom value in Base Village. Corner unit with extra large deck & views of Mt Daly & Sam’s Knob ski trails.”2009 Taxes: $6,709 Yr; HOA Dues: $13,782 Yr. Under Contract Date: $01/06/11; Sold Date: 02/14/11. (Photos and description courtesy of BJ Adams and Company).

MLS # 118100 – 709 E. Main St #301, Aspen, CO: Sold Price: $515,000/$953 sq ft
; Ask Price: $599,000/$1,09 sq ft. (Original Price: $747,000 and on the market for 435 days since 12/02/09). This is a 1977 built/2008 remodeled 1-bedroom 540 sq ft condo.The broker comments are, “Excellent Aspen core live/work possibility in this top floor, south-facing, pet-friendly condo with dramatic views of Aspen Mtn. Unit has an additional 240 sq ft of heated storage with track lighting and built-ins that could possibly be used as an office space. This unique, remodeled studio lives like a one bedroom with lofted bedroom plus murphy bed area. Kitchen upgrades include granite countertops, stainless steel appliances by Sub-Zero, Jenn-Aire and Whirlpool, bathroom is beautifully tiled and has Jacuzzi tub. Other features include wood floors, in-unit washer/dryer, wood-burn fireplace with slate surround and wood mantle. Building exterior renovation completed in 2009, new roof completed in 2005, and windows replaced in 2008. 10’X 12′ loft not included in unit sq.ft. Priced to sell.” 2009 Taxes: $1,707 Yr; HOA Dues: $200/mos. Under Contract Date: 02/03/11; Sold Date: $02/18/11. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty ).

MLS # 119791 – Prime downtown commercial space in middle of Hyman St Mall, 415 E Hyman Avenue 16 Aspen, CO: Sold Price: $1,588,000/$440 sq ft; Ask and Original Price: $1,700,000/$474 sq ft and 75 days on the market. This is a 3,588 sq ft space. The broker writes, “Prime lower level commercial condominium with beautiful turn-key restaurant”2010 Taxes: $16877 Yr. Under Contract Date: 02/08/11; Sold Date: $ 02/14/11. (Photos and description courtesy of Setterfield & Bright ).

Tim Estin welcomes your business, inquiries and comments. Email him or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s Aspen Real Estate Blog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click subscribe button in the menu bar on left:

new TWTR.Widget({ version: 2, type: ‘profile’, rpp: 4, interval: 6000, width: 250, height: 300, theme: { shell: { background: ‘#333333’, color: ‘#ffffff’ }, tweets: { background: ‘#000000’, color: ‘#ffffff’, links: ‘#4aed05’ } }, features: { scrollbar: false, loop: false, live: false, hashtags: true, timestamp: true, avatars: false, behavior: ‘all’ } }).render().setUser(‘EstinAspen’).start();

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 2011 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, www.EstinAspen.com”