The Estin Report: May and YTD 2015 Aspen Snowmass Real Estate Monthly Market Snapshot was released late Monday, 06/02/15 inCurrent Reports. The Snapshots are released on or near the 1st Monday of the month.
The Estin Report: The 4th Quarter and Year 2014 State of the Aspen Real Estate Market was released online Feb 7th inCurrent Reports.The print edition is available in racks around town and at Sotheby’s offices at 415 Hyman St Mall and 300 Spring Street (my office) opposite the new Aspen Art Museum.
See recent Before/After redevelopment ‘flip job’ examplesin Miscellaneous Info. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (last -05/07/15) as additional re-sale properties come on the market at significantly higher prices.
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date to 2008. Or useSearchEstinAspenin the menu bar to search by topic, address, subdivision, complex, date, etc. If it’s about Aspen, the information should be here.
Market Activity Week 26, June 21 – 28, 2015
Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.
Closed (5):MLS #’s:139023, 132235,134563,137134,138881. This link is valid until 07/28/2015.
Under Contract/Pending (12):MLS#’s:125140,134787,136332,138074,138716,138870,139107,139289,139431,139471,139548,139630. This link is valid until07/28/2015.
Aspen Snowmass Solds Last Week:
MLS #139023 – Castle Creek, West Aspen, 250 N Hayden Road, Aspen, CO: Bank REO Sale. Sold Price: $5,600,000/$754 sq ft; unfurnished. More details below photos.
MLS #139023 – (More photos to be posted late Monday). Castle Creek, West Aspen, 250 N Hayden Road, Aspen, CO: Bank REO Foreclosure Sale. Sold Price: $5,600,000/$754 sq ft; unfurnished; Asking Price: $5,290,000. (Original Price: $10,500,000 and on the market since 05/08/2007.) This was a unique opportunity to purchase a Rocky Mountain compound in Aspen at a significant discount. There were (2) starting bids at full ask price. Bidders were told to bring their “best and final”, and one of the buyers made a higher bid after that deadline. The other buyer was allowed to make another bid creating a “double round” of bids, and the final sold price ended up at $5.6M. In hindsight, the property was consistently priced ahead of the market, and consequently followed the market down throughout the entire financial crisis downturn. In the past 7-8 years, the property was neglected and experienced significant deferred maintenance. Most prospective buyers would agree the residential improvements on the property – the Main house, Guest House and Caretaker Apartment above the 3-car Garage for a total of 7,017 sq ft – will require substantial renovation at a likely cost of at least $1.5 – $3M to maximize value …to restore the property to estate level grade. This is a 1994 built, 5 bedroom/2 bath/ 1 half-bath, 5,161 sq ft single family home with 3 car garage on 8.3 acres or 364,161 sq ft lot. Broker comments are “Pristine private setting of 8.3 acres covered with aspen trees yet located just 8 minutes to the heart of Aspen (3.5 miles). With expansive views of Mt. Hayden, the large main house, private ADU/caretakers 1,117 square foot 2 bedroom cabin, and large 739 square foot guest suite above the oversized 3 car garage, this property is offered far below its replacement cost. Although it needs TLC, this estate property offers a substantial upside. Don’t miss out on this great Aspen opportunity! Sold as-is. Buyer to verify all information including HOA.” 2014 Taxes: $7,533; HOA Dues: $1,500 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/04/2015; Sold Date: 06/26/2015. (Photos and broker comments courtesy of Mercury Alliance Mountain Properties)
MLS #138881 – Pomegranate, West Aspen, 39060 Highway 82 6, Aspen, CO: Sold Price: $1,275,000/$1,069 sq ft; furnished. More details below photos.
MLS #138881 – Pomegranate, West Aspen, 39060 Highway 82 6, Aspen, CO: Sold Price: $1,275,000/$1,069 sq ft; furnished; Asking Price: $1,350,000. (Original Price: $1,350,000 and 903 days on the market since 12/01/2007.) This is a 1972 built and 2008 remodeled, 3 bedroom/2 bath, 1,192 sq ft condo with 1 car garage. This condo complex is located outside the town of Aspen, between just east of the Buttermilk Ski Area. Broker comments are “Beautiful Luxury top floor Condo with GORGEOUS VIEWS of Highlands, Buttermilk. Overlooking golf course. Remodeled to the studs, with one car garage. Must see to appreciate.” 2014 Taxes: $1,818; HOA Dues: $735 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/10/2015; Sold Date: 06/24/2015. (Photos and broker comments courtesy of Frias Properties of Aspen)
MLS #134563 – Columbine Condominiums, Central Core, 801 E Hopkins Avenue, Aspen, CO: Sold Price: $980,000/$1,190 sq ft; partial furnished. More details below photos.
MLS #134563 – Columbine, Central Core, 801 E Hopkins Avenue, Aspen, CO: Sold Price: $980,000/$1,190 sq ft; partial furnished; Asking Price: $1,125,000. (Original Price: $1,175,000 and 1,526 days on the market since 08/07/2008.) This is a 1976 built, 1 bedroom/1 bath/1 half-bath, 823 sq ft condo. Broker comments are “Beautiful Super High End extra large 1Br Central Core condo. Tumbled Marble Master Steam, Custom Tile Work throughout, Granite and Marble, Stacked Stone Fireplace. All High End Appliances, French Doors open to a 450 Sq Ft Stamped Concrete Private Patio with Hot Tub and Direct Views of Aspen Mtn, All Day Sun, Custom Alder Dutch Door, European hardwoods, 1 off street parking space, A Must See Unit. Great Short Term Rental History” 2013 Taxes: $1,546; HOA Dues: $1,500 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/02/2015; Sold Date: 06/19/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #132235 – Gant, Central Core, 610 W West End Street K-103, Aspen, CO: Sold Price: $825,000/$833 sq ft; furnished. More details below photos.
MLS #132235 – Gant, Central Core, 610 W West End Street K-103, Aspen, CO: Sold Price: $825,000/$833 sq ft; furnished; Asking Price: $879,000. (Original Price: $950,000 and 859 days on the market since 11/12/2011.) This is a 1972 built and 2013 remodeled, 2 bedroom/2 bath, 990 sq ft condo. Broker comments are “The Gant is the premier complex in the heart of Aspen, offering unparalleled amenities and services to owners and guests. A quick complimentary shuttle ride or a short stroll and you enjoy world class skiing, shopping and dining in Aspen. Offering first floor convenience, a spacious floor plan, and convenient parking, this luxurious 2 bedroom condominium is close to the outdoor swimming pools, hot tubs, tennis courts as well as providing wireless access, fitness facilities, and concierge services. This unit is located next to Ute Avenue for a short walk to the Aspen Club, area trails or the Silver Queen Gondola.” 2012 Taxes: $2,508; HOA Dues: $22,890 per Year. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/04/2015; Sold Date: 06/24/2015. (Photos and broker comments courtesy of McKinley Sales)
MLS #137134 – Pioneer Condos, Central Core, 915 E Hopkins Avenue 5, Aspen, CO: Sold Price: $500,000/$924 sq ft; unfurnished. More details below photos.
MLS #137134 – Pioneer Condos, Central Core, 915 E Hopkins Avenue 5, Aspen, CO: Sold Price: $500,000/$924 sq ft; unfurnished; Asking Price: $550,000. (Original Price: $550,000 and 186 days on the market since 12/18/2014.) This is a 1974 built and 2013 remodeled, Studio/1 bath, 541 sq ft condo. Broker comments are “Rare ground floor corner studio in the ”core.” Low HOA dues, designated parking space on quiet street just steps to malls & gondola. Perfect for local or second homeowner.” 2013 Taxes: $884; HOA Dues: $525 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/20/2015; Sold Date: 06/22/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
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Disclaimer: The statements made in The Estin Report and on Aspen broker 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 at970.309.6163or by email.The Estin Report is copyrighted 2015 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Report on Aspen Real Estate.”