ASPEN PITKIN COUNTY REAL ESTATE – About $10 billion in Pitkin County property value, or 24 percent, vanished between mid-2008 and mid-2010, according to numbers disclosed this week by the county assessor’s office.The numbers, which total the most recent assessments all of the county’s 22,787 taxable properties, show $26.96 billion in local real estate value. That’s down from the $36 billion calculated in 2010.Overall taxable assessed property value in Pitkin County stands at $2.79 billion for 2011, down from $3.68 billion in 2010. Taxable value is determined by taking the total actual value and dividing according to a formula set by the state.“We expected a significant drop in value this year,” Pitkin County Assessor Tom Isaac said. “And it sure is.”The overall valuations include both private homes and commercial properties. The values are based on the real estate market as of June 30, 2010. Valuation notices to homeowners were sent in May.This year’s valuations for the first time reflect the crippling effect of the national recession on the local real estate market. By law, Colorado county assessors survey all properties every two years and gauge value based on comparable sales. The calculations stand for two years, until the next survey is completed.
By Andrew Travers, August 5,,2100 ADN

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The owner of this photo found online writes, "In July of 1880 DRC Brown, my grandfather, and Henry Cowenhoven had their first glimpse of Aspen and the Roaring Fork Valley “… we left for Aspen next morning and it took us all that day to make eight miles, which brought us within four miles of Aspen. In the morning we broke camp about 10 o’clock and at 2:30 p.m., in July 1880, we had our first view of the Roaring Fork Valley and, to me, it was the most wonderful sight I ever beheld…” The next morning my grandfather and Mr. Cowenhoven bought a lot on which to build their general store and a house. They paid $75 for it."