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RELEASED JAN 9. 2011: THE ESTIN REPORT: STATE OF THE ASPEN REAL ESTATE MARKET 2011 YEAR AND 4TH QUARTER

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The Estin Report: State of the Aspen Market 2011 Year and 4th Quarter

Tim Estin is an active Aspen real estate broker with Coldwell Banker Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly or semi-annually, annually and also special reports. For blog archives, scroll to bottom of this page and search by date or topic. Or search this site in SearchEstinAspen.com on the menu bar. If it’s about Aspen real estate, chances are there’s something about it here.

Last Week’s Market Highlights – Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Under Contract / Pending (7): MLS# 117190, 121716, 117262, 119761, 111786, 122237, 118333. This link is valid for 30 days until 2/14/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (7): MLS# 123321, 121326, 123293, 120286, 122519, 119280, 123354 . This link is valid for 30 days until 2/14//2012.

Select Aspen Solds Last Week:

MLS # 123321 – Aspen, Aspen Highlands single family home, 73 Thunderbowl Lane #10, Aspen, CO: Sold Price: $3,900,000/$669 sq ft furnished. More details below photos.

MLS # 123321 – Aspen, Aspen Highlands single family home, 73 Thunderbowl Lane #10, Aspen, CO: Sold Price: $3,900,000/$669 sq ft furnished; Ask Price: $4,350,000. (Original Price: $4,350,000 and 56 days on the market since 11/14/2011.) This is a 2007 built 5 bedroom/5 baths/2 half baths, 5,824 sq ft townhouse with 2 car garage. Broker comments are, “With 5824 sq ft of living space, this 5 bedroom property lives like a single-family home but has the convenience of townhouse. The unit has vaulted ceilings, beautiful tile and wood flooring, commercial grade appliances, a gourmet kitchen, a game room with wet bar, steam showers and a snow melt driveway. HOA fees include maintenance of the property’s exterior, use of the pool and gym at the Ritz Carlton Club, plus a limited free taxi service back and forth to town. A great home for both summer and winter.” 2010 Taxes: $27,607; HOA Dues: $5,746 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/06/2012; Sold Date: 01/09/2012. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #121326 – Aspen, West End duplex, 500 W. Smuggler, Aspen, CO: Sold Price: $2,200,000/$730 sq ft partially furnished. More details below photos.

MLS #121326 – Aspen, West End duplex, 500 W. Smuggler, Aspen, CO: Sold Price: $2,200,000/$730 sq ft partially furnished; Ask Price: $2,590,000. (Original Price: $3,567,000 and 968 days on the market since 05/27/2009.) This is a 1970 built/1999 remodeled, 5 bedroom/3 baths, 3,012 sq ft duplex with 1 car garage. Broker comments are, “West end gem two blocks from the Music Tent. Five bedroom duplex with full corner lot frontage, sunshine all day and stunning views of Aspen and Shadow mountains. Renovation completed in 2006 with top of the line hardware, appliances, cabinetry and finishes. Partially furnished and turn key.” 2010 Taxes: $5,228. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/28/2011; Sold Date: 1/10/2012. (Photos and broker comments courtesy of Morris & Frywald, Sotheby’s Intl Realty.)

MLS #123293 – Aspen, Central Core, E. Hyman Ave Townhomes duplex, 816 E. Hyman Avenue, Aspen, CO: Sold Price: $2,350,000/$1,297 sq ft furnished. More details below photos.

MLS #123293 – Aspen, Central Core, E. Hyman Ave Townhomes duplex, 816 E. Hyman Avenue, Aspen, CO: Sold Price: $2,350,000/$1,297 sq ft furnished; Ask Price: $2,495,000. (Original Price: $2,495 and 63 days on the market since 11/11/2011.) This is a 1989 built/2009 remodeled, 3 bedroom/3 baths, 1,811 sq ft duplex with 2 car garage. Broker comments are, “Excellent opportunity to purchase a beautifully remodeled 3 bedroom, 3 bath with 2-car garage and roof top deck with 360 degree views in the downtown core. Walk to the Gondola and downtown. Fully furnished, including numerous flat screen T.V.s, your Buyer could move in by Christmas.” 2010 Taxes: 6,756. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/09/2011; Sold Date: 01/13/2012. (Photos and broker comments courtesy of Chaffin Light R.E.)

MLS #120286 – Aspen, Central Core condo, 222 W. Hopkins 5, Aspen, CO: Sold Price: $789,375/$1,031 sq ft furnished. More details below photos.


MLS #120286 – Aspen, Central Core condo, 222 W. Hopkins 5, Aspen, CO: Sold Price: $789,375/$1,031 sq ft furnished; Ask Price: $849,500. (Original Price: $899,000 and 295 days on the market since 03/21/2011.) This is a 1888 built, 1 bedroom/1 bath, 765 sq ft condo. Broker comments are, “Light and bright one bedroom with ideal location only blocks from shops and restaurants. Quiet location on the top floor of an old Victorian home. Enjoy views of Aspen Mountain from the living area or the deck. Recently remodeled including beautiful bathroom with steam shower and separate laundry room. Don’t miss this great opportunity.” 2010 Taxes: $2,710; HOA Dues: $998 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/14/2011; Sold Date: 01/10/2012. (Photos and broker comments courtesy of Lorrie B Aspen.)

MLS #122519 – Aspen, Central Core, Timber Ridge condo, 100 E. Dean Street 1-F, Aspen, CO: Sold Price: $610,000/$693 sq ft unfurnished. More details below photos.

MLS #122519 – Aspen, Central Core, Timber Ridge condo, 100 E. Dean Street 1-F, Aspen, CO: Sold Price: $610,000/$693 sq ft unfurnished; Ask Price: $639,900. (Original Price: $698,445 and 141 days on the market since 08/23/2011.) This is a 1965 built, 2 bedroom/2 baths, 880 sq ft condo. Broker comments are, “Excellent opportunity to own a two bedroom, two bathroom in the Downtown Aspen core. This property is on the ground floor with South facing views located at the base of the mountain. Property has been updated and has wood floors, nice carpet in the bedrooms, granite counters in the kitchen, stone fireplace, and travertine in the bathrooms. Washer & Dryer in unit. Property sold As-Is, Buyer to verify HOA.” 2010 Taxes: $2,522; HOA Dues: $1,228 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/14/2011; Sold Date: 01/11/2012. (Photos and broker comments courtesy of Merritt Group.)

MLS #119280 – Aspen Core, Aspen Mountain Townhouses condo, 623 S. Monarch Street B, Aspen, CO: Sold Price: $780,000/$660 sq ft furnished. More details below photos.

MLS #119280 – Aspen Core, Aspen Mountain Townhouses condo, 623 S. Monarch Street B, Aspen, CO: Sold Price: $780,000/$660 sq ft furnished; Ask Price: $950,000. (Original Price: $1,199,000 and 1,419 days on the market since 02/22/2008.) This is a 1985 built, 3 bedroom/2 baths, 1,181 sq ft condo. Broker comments are, “Incredible location, within short walking distance of list 1A. Steps from the St. Regis Hotel and all that Aspen has to offer.” 2010 Taxes: $4,012; HOA Dues: $6,592 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/12/2011; Sold Date: 01/11/2012. (Photos and broker comments courtesy of Chaffin Light R.E.)

MLS #123354 – Snowmass Village, Seasons 4 Condominium, 35 Lower Bridge Road 104, Snowmass Village, CO: Sold Price: $449,000/$358 sq ft unfurnished. More details below photos.

MLS #123354 – Snowmass Village, Seasons 4 Condominium, 35 Lower Bridge Road 104, Snowmass Village, CO: Sold Price: $449,000/$358 sq ft unfurnished; Ask Price: $449,900. (Original Price: $920,000 and 988 days on the market since 04/30/2009.) This is a 1971 built, 3 bedroom/3 baths, 1,251 sq ft condo. Broker comments are, “Updated 3 bed/3 bath, top floor, corner Seasons Four Condo. This South facing property features vaulted ceilings with skylights, wood floors, wood burning fire place, and has views of Snowmass Ski area. New paint and carpet and updated kitchen. Seasons Four complex amenities include pool and hot tub and reserved parking.” 2010 Taxes: $2,878; HOA Dues: $1,719 Qtr. Town of Snowmass Village Transfer Tax of approx. 1% payable by buyer. Under Contract Date: 12/07/2011; Sold Date: 01/13/2012. (Photos and broker comments courtesy of Merritt Group.)

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

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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 Email him. The Estin Report is copyrighted 2012 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Real Estate Market, By Aspen broker Tim Estin, mba, gri.”

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