Tim Estin is an active Aspen real estate broker with Mason Morse 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.

Link to: The Estin Report: 2010 Full Year Aspen Snowmass Real Estate

Commentary: This past Friday March 4th, a cover WSJ article was released on Aspen, “The Most Expensive Town in America”. Since Jan 31st, there have been (6) big money Aspen real estate transactions over $14MM… Read the 2/19/11 Aspen Real estate Market Update with two important Estin Report Aspen trend graphs, MLS property links and photos & descriptions to these (6) properties.

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 here to preserve 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 and Statistics, Feb. 27 – March 6, 2011

Closed (11): MLS# 116749, 119406, 114608, 116375, 114555, 117666, 113071, 118465, 115087, 111897, 119489. This link is valid for 30 days until 04/05/11.

MLS # 116749 – Meadowood single family home, 99 Bluebonnet Trail, Aspen, CO: Sold Price: $3,450,000/$1,065 Sq Ft; Ask Price: $3,700,000. (Original price: $4,000,000. and on the market 269 days since 6/9/10.) This is an older 1979 built/2000 remodeled home on a beautiful Meadowood subdivision 1/2 acre lot. The house is 3 bedrooms/3.5 baths and 3,240 sq ft with a 2-car garage.Broker’s comments, “Incredible home in Meadowood. This home has it all with great views End of road privacy and your backyard opens to the ”Meadow” with acres of open space. Kids can walk through the meadow to and from the Aspen Recreation Center or School. Ski right to the backyard from Aspen Highlands on the cross country ski trail. Take advantage of what this home has to offer. Whether it is relaxing on the deck during a peaceful summer afternoon, cross country skiing out your back door, playing tennis on the Meadowood courts, or just reading a book by the wood fire this home has it all.” Sold Date:3/4/11; Under Contract Date:2/2/11. 2009 Taxes: $14,038 Yr; HOA Dues: $352 Yr. (Photos and description courtesy of ZG Realty).

MLS # 119406 – Snomwass Village condominium, 65 Campground Ln #82, Snowmass Village, CO – Sold Price: $515,000/$567 Sq Ft; Ask Price: $514,800/$567 sq ft. (Original Price: $1,175,000. and on the market for 1,248 days since 12/01/07). This is a 2 bedroom/2 bath, 908 sq ft condo.Broker’s comments, “This Terracehouse condo was totally remodeled in 2008. It includes updated bathrooms new kitchen cabinets with slab granite counter tops and hardwood floors. The new owner has the chance to add furniture and appliances that fit their tastes and lifestyle. You can enjoy incredible ski access 100 meters to Fanny hill; closer than many Base Village units, and you will have the use of the Stonebridge facilities and amenities. An incredible chance to buy a near new condo at a REO price.” 2009 Taxes: $2,689 Yr; HOA Dues: Not stated. Sold Date:02/24/11; Under Contract Date: 01/25/11. Town of Snowmass Transfer Tax of approx. 1% paid by buyer. (Photos and description courtesy of Chaffin Light Real Estate Snowmass Village).

MLS# 114608 – Aspen Highlands condo/townhome, 1501 Maroon Creek Rd Unit 11, Aspen, CO: Sold Price: $1,280,000/$640 sq ft ; Ask Price: $1,295,000/$647 Sq Ft. (Original price: $1,995,000. and on the market 581 days since 07/21/2009.)Broker’s comments, “Savor the summer months & sunshine from either the deck or patio of this newly remodeled contemporary townhome with 4 bedrooms, 3.5 baths, and 2000 square feet of warm living spaces. Features include an expansive master suite with modern bathroom & large walk-in closet, family room, or exercise room, A/V wiring throughout, top of the line appliances, fine finishes, radiant heat, lots of storage space, and ample parking. Located directly across from Aspen Highlands ski area and overlooking Maroon Creek, with quick & easy access to town via the bike path.”Remodeled in 2009. 2009 Taxes: $2,703 Yr; HOA Dues: $2,100 Qtr. Sold Date: 02/28/11; Under Contract Date: 01/11/2011. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty)

MLS #116375, Downtown Aspen Square Condo, 617 E Cooper Avenue Unit 115 Aspen, CO: Sold Price: $1,050,000/$1,253 sq ft;
Ask Price: $1,250,000/$1,495 Sq Ft. (Original Price: $1,400,000 and on the market for 283 days since 05/18/10.) This is a 2 bedroom/2 bath, 836 sq ft directly across the street from the Little Nell Hotel and the Aspen Mountain Gondola. The Aspen Square is a hotel condo complex with full front desk management, pool, jacuzzi, etc. Broker’s comments, “A rare upper level two-bedroom unit with views of Aspen Mountain. This unit is located across the street from the Silver Queen Gondola. Remodeled within the last 5 years. Enjoy the amenities of the Aspen Square: Heated pool, hot tub, fitness center, conference room, concierge and walking distance to dining and shopping.” 2009 Taxes: $4,077 Yr; HOA Dues: $29,000 Yr. Sold Date:02/25/11; Under Contract Date: 02/13/11. City of Aspen RETT Transfer Tax of approx. 1.5% due to buyer (Photos and description courtesy of Aspen Real Estate Company).

MLS # 114555 – Snowmass Village condo, 224 Snowmass Club Circle Unit 1423, Snowmass Village, CO: Sold Price: 850,000/$474 Sq Ft
; Ask Price: $895,000/$496 Sq Ft. (Original Price: $1,700,000 and on the market for 614 days since 02/18/2008). This is a 3 bedroom/3 bath, 1,795 sq ft, 1984 built/1998 remodeled townhome unit. The brokers comments, “Larger than most 3 bedroom Club Villas at 1,795 sq.ft. Corner unit with great views. Priced to sell. Assessments include heat. Snowmass Club membership included – Buyer to pay $1,000 transfer fee.” 2010 Taxes: $4,629 Yr; HOA Dues: $4,904 Qtr. Town of Snowmass Taransfer Tax of approx. 1% due to buyer. Sold Date: 02/28/11; Under Contract Date: 01/05/11.

(Photos and description courtesy of Joshua & Co, Snowmass Village)

MLS #117666 – Aspen core 4-bedroom condo, 980 E Hyman Unit 1 Aspen, CO: Sold Price: $2,143,250/$985 Sq Ft; Ask Price: $2,499,000/$1,148 Sq Ft. (Original Price: $2,750,000 and on the market 228 days since 7/19/11.) This is a 4 bedroom/4 bath condo in the heart of downtown with dead-on Aspen Mountain views and one- assigned parking space and extra unit storage. Broker’s comments, “Beautiful, elegant and large in-town four bedroom/four bath condo with additional media/entertainment room including wet bar. The property is being sold turnkey. There are two wood burning fireplaces, two patios, views of Aspen Mountain. Aspen Core location on a quiet cul de sac street within easy walking distance to Gondola, shopping, services and restaurants.Fully furnished excluding art, a few select furniture antiques TBD and some personal items. Brand new laundry machine in unit and an additional laundry room for the building.Exterior bldg painting sometime in August and/or September 2010, not an extra assesment. City of Aspen RETT transfer taxes apply to purchaser.” Sold Date: 03/04/11; Under Contract Date: 01/27/11. City of Aspen RETT Transfer Tax of 1.5% applies to buyer. (Photos and description courtesy of Mason Morse Real Estate).

MLS #113701 – Single family home in Maroon Creek Subdivision, 71 N. Willow Court, Aspen, CO: Sold Price: $5,300,000/$893 Sq Ft; Ask Price: $5,499,000/$ Sq Ft. (Original Price $7,700,000 and 534 days on the market since 09/14/09. This is a 2000 built 5 bedroom/5.5 bath, 5,932 sq ft home on approx. 1/3 acre overlookng the Maroon Creek golf course. No broker comments. 2009 Taxes: $16,631 Yr; HOA Dues: $3,363 Yr. Under Contract Date: 1/25/11; Sold Date: 3/02/11. City of Aspen RETT 1.5% transfer tax applies to buyer. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #118465 – Single family home in Horse Ranch Subdivision, 1198 Horse Ranch Drive Snowmass Village, CO: Sold Price: $3,675,000/$ Sq Ft
; Ask Price: $3,995,000/$808 Sq Ft (Original Price: $4,495,000 and on the market for 144 days since 10/11/10.) This is a 1997 built/2008 remodeled 5 bedroom/5.5 bath, 4,941 sq ft home with 2-car garage on 1.08 acres.Broker’s comments, “Refined mountain living. Priced below October 2010 appraised value of $4,750,000. With over 4900 sq. ft. of open living, this 5 bedroom, 5.5 bath home offers every amenity and high end finish of a custom residence with privacy, breathtaking views and exceptional location to Aspen/Snowmass ski resorts. The home’s radiant wood planked and flagstone floors and custom stone fireplace provide for ideal entertaining and gatherings. Kitchen appliances include LaCornue, Sub Zero, Asko. All bathrooms recently remodeled with steam showers, hand chosen granite and beautiful limestone floors. The spacious Master Bedroom has it’s own wing, views and walk out deck to a large custom stone in-ground spa.Every room is wired with a carbon monoxide detector, humidification system, air conditioning and Sur/Sound. French doors open to an outdoor radiant heat, flagstone patio. Property is an unapproved short sale.” 2009 Taxes: $14,070 Yr; HOA Dues: $175 Yr. Under Contract Date: 01/18/11; Sold Date: 03/04/11. 2009 Taxes, $14098 Yr; HOA Dues: $175 Yr. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS # 115087 – Aspen core condominium, 708 E. Hyman, Aspen, CO: Sold Price: $4,300,000/$1,664 Sq Ft; Ask Price: $4,690,000/$1,815 Sq Ft. (Original Price: $5,100,000 and on the market 364 days since 03/01/2010.) This is a 3 bedroom/3.5 bath, 2584 sq ft, 1988 built exquisitely remodeled Aspen condo with a 2-car garage.The broker’s comments, “Located just three blocks from the gondola right in the center of town. The convenience of core-living cannot be overstated. This three bedroom townhome was completely renovated with a warm, exciting contemporary palette. From the moment you enter the home you are enveloped with pleasing, high-end finishes, ebony-stained wood floors, stainless steel custom cabinetry, furniture grade built-ins and artisan tile and stonework, and more. Large open chef’s kitchen and adjacent dining area. The home encompasses three levels with outdoor terraces off the master and guest master bedrooms. The townhome comes complete with an office, two-car garage and snowmelt driveway and entry walk.” 2009 Taxes: $9,415 Yr; HOA Dues: $6,300 Qtr. Sold Date: 2/28/11; Under Contract Date: 1/30/11. Australian buyer. City of Aspen RETT TRansfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of CB The Aspen Brokers, LTD)

MLS #11897 – Starwood single family home, 801 S. Starwood Drive Aspen, CO: Sold Price: $3,600,000/$729 Sq Ft; Ask Price: $4,395,000/$890 Sq Ft. (Original Price: $4,950,000 and on the market for 604 days since 6/30/09. The seller paid $4,050,000 on 11/1/06). This is a 4 bedroom/3.5 bath, 1975 built/1997 remodeled home on 2.69 acres with 2 car garage.The broker’s comments are, “Beautifully maintained 4 bed plus office/3.5bath, 4,938 sq.ft home with expansive views, great sun, high-end finishes, warm and charming feel. Vaulted ceilings, 2 wood-burning fireplaces, office and wonderful outdoor liviing spaces with outdoor grill. Home newly furnished. Completely renovated in 1997 with designs by Bill Poss Architects, as well as additional improvements in 2002 and 2007.” 2009 Taxes: $13,988 Yr: HOA Dues: $279 Yr. Sold Date: 02/24/11; Under Contract Date: 12/13/10. (Photos and description courtesy of Chaffin Light Real Estate).

MLS #119489 – Aspen core condominium, 520 S. Original St, Aspen, CO: Sold Price: $2,000,000/$1,008 Sq Ft;
Ask Price: $1,995,000/$1,008 Sq Ft. (Original Price: $3,995,000 and on/off the market for 484 days since 5/1/09.The owner – not the bank – paid $3,380,000 for the unit on 10/02/07.) This is a bank owned sale of a 1979 built, 2 bedroom/3 bath, 1,838 sq ft condo 1.5 blocks from the Aspen Mountain Gondola.Broker’s comments, “SOLD AS-IS*BUYER TO VERIFY HOA*REO – Great ground floor condo that backs to Glory Hole Park. The home features 2 bedroom suites, 3 bathrooms, and under ground parking space. Unbelievable private fenced patio with in ground pool, built in gas fireplace, and plenty of room to relax. Bright, open floor plan with wood burning fireplace. Great location within walking distance to downtown Aspen & gondola. Don’t miss out on this great Aspen opportunity.” 2009 Taxes: $7,340 Yr: HOA Dues: $5,750 Qtr. City of Aspen RETT Transfer Tax of 1.5% applies to buyer. Sold Date: 3/2/2011; Under Contract Date: 1/26/11. (Photos and description courtesy of Mercury Alliance Mountain Properties).

Under Contract / Pending (17): MLS# 113457, 114987, 119735, 114030, 105715, 111629, 118403, 117186, 114794, 120001, 111656, 119733, 116793, 114211,119882,119162,114589,. Link is valid for 30 days until 3/29/11. Photos and descriptions of under contract properties are not posted unless special circumstances dictate.

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”