The Madoff clients of Aspen are coping with staggering losses, seeking advice from lawyers and tax experts and, in a few cases, considering selling their homes. A couple of friends launched a support network, the Phoenix Group, vowing to "rise from the ashes."Adding to the anguish, many of their names… Read More
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.
“Looking Up at Last” – Merrill Lynch Wealth Mgmt Luxury Home Report
Published by Merrill Lynch Private Banking and Investment Group, Oct. 25, 2012 An exclusive city-by-city analysis of the high-end residential real estate market suggests that those waiting for a meaningful recovery to set in need wait no longer. Click for Report pdf Resort Report Mixed Excerpt: Venerable high-end resort towns, while too small to be included in Merrill Lynch's survey of Zillow data, share the same long-term appeal of properties in Manhattan or San Francisco: a natural supply limit. As Michael Feder, president and CEO of research and analysis firm Radar Logic Inc., puts it, "They aren't making new oceanfront property in the Hamptons anymore." That's not to say such areas weren't hit hard during the crisis. "Prices in Aspen, Colo., dropped 25% to 40% after 2008", says Tim Estin, a broker at Coldwell Banker Mason Morse Real Estate in Aspen, Colo., and the publisher of The Estin Report, a monthly and quarterly analysis of the Aspen/Snowmass home market. Since then, the recovery has been a bit all over the map, Estin says. The total amount of money spent on Aspen homes surged 20% year over year in 2011, then retreated 37% year over year in the first half of 2012, then surged 55% this past summer. A lot of this has to do with the degree to which a very few number of very expensive homes can skew the market in an area like Aspen. For example, through the first half of 2011, 12 properties sold for more than $10 million, whereas during the same period this year, there were just five transactions of that magnitude. But perhaps a more telling statistic is the total number of units sold. That number — which was up 26% for the summer of 2012 vs. the summer of 2011 — suggests to Estin that while some high-end buyers may still be putting their vacation dreams on hold amid lingering uncertainties about the economy, more are recognizing that now may represent "an unprecedented opportunity" to acquire properties at prices not seen in nearly a decade. Read More
The Estin Report Aspen Snowmass Real Estate Weekly Sales and Market Statistics: (6) Closed and (5) Under Contract / Pending and Purchase Power of Low Mortgage Rates: Oct. 10 – 17, 10
Follow@EstinAspen on twitter for blog posts and news on Aspen real estate. Click the twitter button directly below or the “conversation” button at the end of this post. At twitter, you’ll have the option of signing up for a twitter… Read More
USFS Looking to Sell Five West End Aspen Lots, ADN
ASPEN REAL ESTATE - The five lots the U.S. Forest Service is looking to carve out of its Aspen West End property and sell via an online auction could each fetch between $2 and $2.5 million, according to a local real estate expert, and accommodate at least a 3,200-square-foot house... Aspen real estate broker Tim Estin [with Coldwell Banker Mason Morse] said that there have been two land sales in the West End this year, and two additional lots are under contract.A 7,500-square-foot corner lot at 501 W. Hallam closed for $2 million in January, Estin said, while another 6,000-square-foot lot closed for $4 million in April. There is an active listing for a 6,000-square-foot lot near the Forest Service’s land that has been on the market for 832 days, Estin said. The original list price of $2.68 million has been lowered to $2.48 million, he said. Based on that and other asking prices for West End lots, Estin estimated the parcels could each go for $2 to $2.5 million, although he said the Forest Service’s motivations and timeline will have a lot to do with the final sale price. Estin also suggested that the Forest Service might be wise to not put all five lots to auction at once. “Five lots would be flooding the system a bit,” he said. Snelson said the agency has taken that concern into account, and is evaluating all strategic options. By Curtis Wackerle, Sept. 12, 2012 ADN The USFS property in Aspen, bordered by Hallam and 7th St on the bottom, is slated for redevelopment. Five lots in the upper right are to be sold to fund a project that includes a new admin. bldg. and visitor center, at lower left, and other facilities. Courtesy AT and U.S. Forest Service Read More
Most Expensive Aspen Property Ever Offered at $220M Is Sold By Bank for $46M
Aspen Real Estate Market Last Week's Sales: July 7 - July 14, 24 - Week 28 Read More
Madoff Case Impacts Aspen: “Aspen Madoff List”
In today’s Aspen Daily News, the front page article alleges an estimated 50-100 Aspen investors, possibly as many Aspenites as Palm Beachers, have been affected by the Madoff/Wall St investment fraud... Excerpt: With their cash evaporated, some local Madoff victims are expected to sell their Aspen homes… Read More
Aspen West End Contemporary Home Sells for $16M/$4,287 SF Furn
Aspen Real Estate Market Last Week's Sales: Jun 25 - Jul 2, 23 - Week 26 Read More
May 18 – 25, 2014 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Under Contract / Pending (4): Three Downtown Aspen Commercial Buildings Sell Last Week
A recent 5/13/14 news article on strengthening Aspen property sales cited Jan-April 2014 Estin Report stats. The Estin Report April 2014 Monthly Market Snapshot of… Read More
Testimonials from Clients and Experts
Excerpts “Consummate, professional, perseverance, experienced, outstanding, clients get his best stuff, quiet, unassuming, discrete, no nonsense, highly respected by the real estate community, league of his own, kind, reliable, dedicated, unmatched data focus, calm, consistent, problem solver, generous,… Read More
The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (11) and Under Contract / Pending (7): Dec 30, 2012 – Jan 06, 2013
Last weeks sales activity is published below. Scroll down page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date. Read More
Pitkin County Strives to Keep Public Lands in Public Domain, ADN
Since 2002, the family of Leslie Wexner, a billionaire who founded Limited Brands and Victoria’s Secret, has spent $84.5 million on their county land holdings beside Mount Sopris, according to public records. That’s $2.5 million more than the county’s open space program has spent in total since it was… Read More
Oct 16 – 23, 2016 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (11) + Under Contract / Pending (5)
The Sept 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on Mon Oct 3rd in Current Reports.The Monthly Snapshots… Read More