ASPEN REAL ESTATE – Snowmass Village, Colo. Roaming through her 10,000-square-foot, eight-bedroom vacation home, clad in a gray hooded sweatshirt, Karen Davidson said it was time for a change. “It’s got everything but a post office,” she said of her 10-acre property here, which in addition to the main house also has two guest houses, a former stable and two barns. “I just want to downsize.”On Dec. 29 Ms. Davidson—whose husband Bill Davidson, owner of the Detroit Pistons, died last March at age 86—put her property on the market. The asking price: $47 million, making the estate, called Stony Creek Ranch, one of the most expensive listings in the country, in a resort area that has been hard-hit by the housing bust. In 2006, four area homes priced at $20 million or more sold; in 2009, just one did. After more than a year on the market, the asking price of a $60 million home on 44 acres in West Buttermilk was cut earlier this month to $47.5 million.Snowmass Village Estate. Real-estate agents say there are tentative signs of life.and the market is
more active now.
By Juliet Chung, Jan. 15, 2010 WSJ

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MLS # 114397 – 2761 Owl Creek Rd, Aspen, CO: Ask Price: $47,000,000. Link valid until 02/24/10