Tim Estin MBA, GRI

Aspen CO Real Estate Broker
Call Tim:(970) 309-6163

Use this site as an Aspen real estate resource. The Estin Report has been accumulating Aspen real estate information online since 2005, and the reports include historical market information dating back to 2003-2004. Search by MLS #, date, topic, address, condo complex, development name, etc. If it is Aspen Snowmass real estate related, it is likely to be here.

The Estin Report © – Aspen as a Safe Harbor

By Tim Estin mba, gri / Broker Associate / Mason Morse Real Estate Aspen / 970.920.7387 office (excerpted from original article in Mountain Business Journal, Jan. 2nd, 2006) In last week’s column (Dec 21-26th), I focused on major demographic and socio-economic trends strongly favoring continued growth in real estate demand in Aspen and the Roaring Fork Valley. This week, I’d like to make a case – subjective, not entirely quantifiable - for Aspen as ‘safe harbor’, as a relatively safe and prudent arena from a wealth preservation perspective to buy and hold real estate Read More

Aspen 2008 Economic Outlook: Will the Rich Keep Spending, ADN

By Brent Gardner-Smith, Jan 2, 2008, Aspen Daily News

For Aspen’s gold-plated economy to continue to purr along in 2008, thousands of wealthy people will need to once again decide to build or buy large expensive Homes, entertain lavishly in those homes, purchase luxury goods such as jewelry and art, and continue to spend freely in the local resort marketplace.

While there are signs that some Americans may now be hesitating before making such decisions, there may be other off-setting factors, including the fact that even Aspen’s real estate prices may now look like a bargain to European consumers.

Designing, approving, building, selling, buying, maintaining and using large luxury homes in Aspen, Snowmass Village and Pitkin County is the main economic engine of the Roaring Fork Valley.
And one of the leading indicators for that sector of the economy is real estate sales.

It appears as if 2007 will have produced the second largest sum of real estate sales in Pitkin County, just behind 2006. In 2006, a record $2.4 billion worth of real estate in Pitkin County changed hands.

Through November 2007, there was $2.3 billion in real estate sales recorded, according to Land Title Guarantee Co.

And it appears as if 2008 might bring a slight chill to the local market, which is still very robust, if not surreal.

Consider that just five years ago, the amount of annual real estate sales in Pitkin County was “only” $1.2 billion.

“We’ve seen a weakening in the numbers of sales and in dollar volumes compared to where we were in 2006,” said Randy Gold, the president and owner of Aspen Appraisal Group Ltd., who recently completed a year end analysis of the Aspen and Snowmass Village real estate markets. “2006 will probably remain the record year, but so what? It doesn’t mean that 2007 was bad and it doesn’t mean the 2008 will be bad.” Read More

The Estin Report © – Aspen Land Values and Opportunities: Winter & Spring 2007

By Tim Estin mba, gri / Broker Associate / Mason Morse Real Estate Aspen / 970.920.7387 office (Nov 2008 author's comment: lot values are down an estimated 10-20% since this article was written in '06. The current credit freeze has virtually shut down land sales and related financing. Where there have been isolated sales, prices are generally lower than those quoted in this article written during the record year in the Aspen real estate marketplace.) original article in Mountain Business Journal, March 21st, 2006) Land value drives real estate prices. And as vacant land in Aspen is almost impossible to find, much of the existing home stock built in the 1960’s through the ‘80’s becomes attractive to builders and developers for what lies beneath, not the structures themselves in spite of their apparent livability. This is not just an Aspen phenomenon. Most high end localities and resorts around the country are experiencing this ‘tear down land rush’ as well. Read More

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