Tim Estin is an active Aspen real estate broker. 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. The best viewing experience of the Estin Report is by using Flipboard for iPad. It’ll read like a magazine!

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

Last Week’s Market Highlights – Aspen 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. 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: The Estin Report: Aspen Snowmass Weekly Sales Statistics, Mar. 13 – 20, 2011

Closed (5): MLS #’s114030, 119033, 119047, 109853, 118310. This link is valid for 30 days until 4/19/2011.

MLS #118310 – single family home, 188 Meadowood Dr, Aspen, CO: Sold Price: $3,400,000/$944 sq ft; Ask Price: $3,995,000/$1,110 sq ft. (Original list price: $5,995,000 and 1,830 days on the market since 09/30/2008). This is a extreme tale of the market in the past 3 years: where we’ve been and where we are now for some – but not all – Aspen properties. When the WSJ writes about “Aspen: The most expensive town in America”, that premise should be filtered through the prism of this sale – and the river property sale below – which says much about our market reset and the ‘new normal’ like many other luxury markets around the country. This is a bank sale of a 4 bedroom/3.5 bath, 3,602 sq ft 1997 built home on .88 acres with a 3-car garage. It was purchased by the owner on 8/31/2007 for $5,776,000. The broker comments are, “Fabulous four bedroom home with large windows, lots of sun and 360 degree views. Open living spaces and master all on one level. High end finishes and amenities include: cherry wood floors, built-in entertainment center, whirlpool tub, steam shower, snowmelt driveway, 2 snow melted patios, separate living room and family room, fireplaces in master bedroom, living room and family room, beautiful beam work throughout and a large mudroom with built in cubbies. This home sits on a very private lot on almost one acre with beautiful landscaping and is within close proximity to downtown Aspen, schools and all ski areas.”. 2009 Taxes: $18,409 Yr; HOA Dues: $63 Qtr. Under Contract Date: 02/01/11; Sold Date: 03/10/11. (Photos and description courtesy of Aspen Associates Realty Group LLC).

MLS #114030 – single family river front home, 1892 Castle Creek Road Aspen, CO. Sold Price: $6,000,000/$1,134 sq ft; Ask Price: $7,250,000/ $1,370 sq ft. (Original Price: $12,500,000/$2,174 sq ft and on the market for 2,007 days since 11/16/2007). This was a teardown/lot purchase in July 2005 by a developer who quickly built this new modular contemporary river home on the site. The new home came on the market in Nov. 2007 at $12,500,000/$2,174 sq ft. It has followed the market down since then selling now at more than 50% off it’s original list price. This is a 2007 built 4 bedroom/4.5 bath, 5,750 sq ft 2-car garage riverfront home with 2 acres. The broker writes, “Award winning riverfront home on two flat private acres. This four bedroom home is nestled up to Castle Creek and is extremely private yet just minutes to downtown Aspen. The contemporary style home has open living spaces with glass walls and large windows that create a dramatic setting, bringing the river into the design and creating a naturally light environment. This two level home is spread out across the river banks and includes a great room, living room, office. The master bedroom is on the main level with and a guest master and two additional bedrooms upstairs with a central media room. Also included is a large patio with an outdoor fire pit and a two car garage.” 2010 Taxes: $15,287 Yr. Under Contract Date: 02/23/11′ Sold Date: 03/16/11.(Photos and description courtesy of Aspen Associates Realty Group LLC).

MLS # 119033 – Aspen core Centenial Park condominium, 830 E. Hopkins #103, Aspen, CO: Sold Price: $840,000/$979 sq ft
; Ask Price: $895,000/$1,043 sq ft. (Original Price: and 93 days on the market since 12/08/10.) This is a 1-bedroom/1 bath, 858 sq ft 1976 built/2005 remodel unit. The broker’s comments are, ” Great central core location. Sounds of the river.” 2009 Taxes: $2,334 YR. City of Aspen RETT Transfer Tax of 1.5% applies to buyer. (Photos and description courtesy of Joshua & CO of Aspen, Inc. )

MLS # 119047 – Snowmass Village condo, Snowmass Villas “Blue Roofs”, 4000 Brush Creek Rd, Snowmass Village, CO: Sold Price: $481,870/$396 sq ft;
Ask Price: $494,900/$406 sq ft. (Original Price: $564,900 and 143 days on the market since 10/25/10). This is a 1969 built, 1,218 sq ft 3-bedroom/3 bath condo along the Snowmass Golf Course.The broker’s comments are, “Large 3-bedroom townhome in Snowmass Village. This property has high vaulted ceilings, granite counters, updated kitchen, fireplace and great views from the living room. Unit is three stories and has updated bathrooms, new paint, and new carpet.” 2009 Taxes: $3,200 Yr; HOA Dues: $632 Mos. Town of Snowmass Transfer Tax applies to buyer. Under Contract Date:01/18/11; Sold Date: 03/18/11. (Photos and description courtesy of Merritt Group.)

MLS # 109853 – Le Chamonix Condominium, 1501 Maroon Creek Rd, Aspen Highlands, Aspen, CO: Sold Price: $1,162,500/$498 sq ft
; Ask Price: $1,450,000/$621 sq ft. (Original Price: $2,975,000 and 776 days on the market since 01/27/2009.) This is a 1965 built/2006 remodel, 4 bedroom/3.5 bath, 2,335 sq ft townhome condo in a small complex across the street from Aspen Highlands Base Village. The broker’s comments are, “Nestled amongst large pines and located directly across from Aspen Highlands Village, this recently remodeled, four-bedroom residence offers lovely sunny decks overlooking Maroon Creek, and is just minutes from the ARC and downtown Aspen.” 2007 Taxes: $2,976 Yr. Under Contract Date: 02/01/2011; Sold Date: 03/14/11; Sold Date: 03/14/2011. (Photos and description courtesy of Joshua & CO of Aspen, Inc.).

Under Contract / Pending (9):MLS #116423, 117498, 119944, 119780, 117200, 119733, 116314, 112261, 119121. This link is valid for 30 days until 4/19/2011. Photos and descriptions of under contract properties are not posted unless special circumstances dictate.

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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 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”