Tim Estin’s weekly blog, www.AspenRealEstateBlog.com, is released Monday mornings and sometimes in-between. The Estin Reports are released annually, quarterlyand also special reports. For blog archives, scroll to bottom of this page and search by date or topic; for Aspen Real Estate News Archives, go to that Section on the left menu bar.There’s also a “Search” Sectionforsearches by name, topic, etc.- as long as it’s Aspen Snowmass real estate related. Tim is an active Aspen real estate Broker Associate at Mason MorseReal Estatein downtown Aspen andhe welcomes your business, inquiries,and comments.

Follow @EstinAspen on twitter for regular market updates and news on Aspen Snowmass real estate.

Last Week’s Market Highlights – Aspen and SnowmassReal Estate Closings and Under Contracts: 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 link(s) to photos and property details expire after 30 days, photos and descriptions of the closed properties are posted to preserve an archive of sold market activity.

For a Spreadsheet Summary of the past week’s sales and under contract activity, see The Estin Report: Aspen Snowmass Weekly Sales Statistics Summary Nov. 14 – 21, 2010

Closed (7): MLS #’s 118283, 227826, 117745, 115673, 118845, 117235, 106986. Link is valid for 30 days until Dec. 21, 2010

MLS 118283 and 118251 – Major Downtown Aspen Commercial Property, 517 and 512 E. Hyman Ave & SW Corner of Hunter & Hyman: Sold Price: $17,750,000; Ask Price: $19,900,000. Original Price $39,000,000 since 08/08/2007. Price reduced from $39MM to $19.9MM on 9/17/10. Total days on the market, 644. The listing broker remarks are, ” Prime Corner in Aspen’s Central Core Little Annie’s to Hunter Street, 3 Parcels in 1 Extraordinary Offering! With 150′ of frontage on Hyman Ave and 100′ of frontage on Hunter Street this 15,000 SF prime corner lot is situated 1&1/2 blocks from the Little Nell and Gondola Plaza and less than 100 yards from Boogie’s and the Paradise Bakery in the heart of Aspen’s Commercial Core. The Property is alley served across its entire breadth affording investors and developers the opportunity to maximize the use of the Hyman Ave and Hunter Street frontages. The parcels being offered include the real property improvements at both the former Huntsman Gallery Building and the Little Annie’s Building. Willing to consider offers for portions of the property. Just appraised in August 2010 for $24.5M. Please see companion listing 118251. For more, go to: www.AspenLegacy.com ” Parking: 21 + assigned spaces. 2009 Taxes: $111,671. City of Aspen RETT Transfer Tax applies to buyer for approx. 1.5%. (Photo and description courtesy of Fleisher Land & Homes, Aspen)

MLS 117745 – Single family home, 6726 Castle Creek Rd, Aspen, CO: Sold Price: $1,900,000./$639 sq ft; Ask and Original List Price: $2,250,000.On the market since 8/5/10 and 97 days on the market.This is a 1975 built/1995 remodel 2,975 sq ft home with 4 bdrms/ 4 baths on 2.13 hillside acres with a one-car garage.Broker remarks, “A mountain getaway, only 6.3 miles up Castle Creek road from the round-about. Surrounded on three sides by national forest, this idyllic mountain home has stunning 180 degree views, sunny, built like a fortress! Large wood-burning, granite fireplace. Private hot tub deck.” 2099 Taxes: $3,514. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty).

MLS 115673 – Aspen condo, Aspen Villas condominium, 814 W Bleeker Street B-1 Aspen, CO: Sold Price: $875,000;$623 sq ft; Ask Price: $1,095,000. Original Price: $1,195,000 and 222 days on the market. This is a 3-floor townhome 3 bdrm/3 bath, 1,406 sq ft, 1972 built/2003 remodel condo at the “S-turn” in Aspen. The broker comments are, “Great townhome/condo in the West End, with views of Aspen Mountain from the master bedroom. End Unit, 3BR, 3BA+office completely renovated to the studs in 2003. By far the best unit in Aspen Villas for sale right now, this interior unit has no street (Highway 82) exposure. High quality finishes include: 3 zone radiant heat, Chef’s kitchen and chilled wine closet, seasonal stream outside master, living rm, and office, hickory hardwood floors, custom art-quality wrought iron, stone, and woodwork throughout. Other features include: -BEST location in Aspen for 4 mountain ski access -Sleeps six comfortably -Walk to town and music. Best location in Aspen for 4 mountain ski access -Sleeps six comfortably – Walk to town and music tent – On bike path – Light and airy living spaces.” 2010 Taxes: $2,472 Yr; HOA Dues: $1,400 Qtr. City of Aspen RETT Transfer Tax applies to buyer for approx. 1.5%. (Photos and description courtesy of Amy Doherty Properties).


MLS 118845 – Downtown Aspen commercial/historic redevelopment property, 623-625 E. Hopkins, Aspen, CO: Sold Price: $2,500,000. This is an ‘under-the-radar- commercial sale. See more about this and recent downtown Aspen sales at my 10/24 -10/31/10 blog post.

MLS 117235 – Penthouse condominium, 520 S. Original St., Downtown Aspen, CO: Sold Price: $4,400,000/$1,567 sq ft; Ask Price: $4,995,000. Original Price $5,495,000 and 136 days on the market. The broker writes, “Take the elevator to this top floor penthouse on one level featuring 3 bedrooms, 3.5 baths, 2807 square feet, two wood-burning fireplaces, vaulted ceilings, open kitchen/living/dining area, granite counters, stainless appliances, exposed wood beams, wet bar, huge private master wing, air conditioning, 3 decks, excellent storage, and big south-facing views of Aspen Mountain. Very livable as is, or take advantage of the tremendous opportunity to remodel. Located in the heart of downtown Aspen directly on Glory Hole Park and just one block to The Little Nell, the totally remodeled building contains an underground garage with assigned parking plus additional off-street parking.” 2009 Taxes: $10,161. Yr; HOA Dues: $29,520 Yr. City of Aspen RETT Transfer Tax applies to buyer for approx. 1.5%. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty).

MLS 117826 – Downtown newly remodeled condominium, 104 W. Cooper Avenue #5, Aspen, CO: Sold Price: $1,175,000/$1,161 sq ft; Ask and Original List Price: $1,275,000. and 110 days on the market. This is a sub-ground level, newly 2010 remodel of a 1972 built complex. 2 Bdrm/2 Bath, 1,012 sq ft opposite Koch Park (know for volleyball) with views of the Park and Aspen Mtn, approx. 3 blocks to Aspen Mtn Lift 1A. Broker’s remarks are, “ALL NEW INTERIOR and EXTERIOR! INTERIOR: New radiant heat in flooring. Teregren Bamboo floors. Alder wood doors and trim. Stainless steel appliances. Carrara marble island top. Silistone counter tops. Kohler and Duravit fixtures. Full size top of the line Wirlpool Washer/Dryer. 5 burner gas range. Gas fireplace. Halogen lighting throughout. Oversized windows in bedrooms. Walk-in closet. Wired for sound. Built in speakers. EXTERIOR/COMMON AREAS: All new fascade, roof, landscaping, snow-melt sidewalks, electrical. Special Assessment has been paid. Views of Aspen Mtn and Koch Park.” Taxes: Property was converted from Affordable Housing to Free Market in 2010. 2011 Property Taxes will increase to reflect the free market value as determined by the Assessor’s Office; HOA Dues: $1,116 Qtr. City of Aspen RETT Transfer Tax applies to buyer for approx. 1.5%. (Photo and description courtesy of Setterfield & Bright).

MLS 106986 – Ski-in/ski-out Woodbridge Condo Unit 33-CD, Snowmass Village, CO: Sold price: $436,000/$476 sq ft; Ask Price: $485,000. (Original Price: $785,000 and 835 days on the market since 07/20/2008.) The brokre comments are, “Ski-in/Ski-out, freshly painted, 2-bedroom unit with beautiful views. On-site parking. Close to Snowmass center for groceries and easy access to shuttle bus. All furniture, art, linen and glassware included. Great for a permanent residence or rental investment.” 2007 Taxes: $1,349 Yr; HOA Dues: $2,100 Qtr. (Photos and description courtesy of Peak Properties of Aspen Inc.)

Under Contract / Pending (8): MLS #’s 115503, 118706, 117843, 109755, 116558, 116341, 104198, 118845. Link is valid for 30 days until Dec. 21, 10. Photos 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 on twitter @EstinAspen or click “Join the conversation” below:

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 2010 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”