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.

New Estin Aspen Real Estate Website to Go Live on Mon Dec 4, 2017

The new website is upon us. It will launch sometime Monday 12/4/17 or before. The infrastructure is new (we migrated from a Joomla backend to WordPress), the design is new and most importantly, the funtionality has vastly improved for property search, property viewing and details, 1-Click searches and blog and… Read More

Congress’s New Tax Bill May Affect 2nd Homeowners from E. Hampton to Lake Tahoe, Bloomberg News 11.10.17

"In Aspen, Colorado, as much as 70 percent of second homes are purchased with cash", so the interest deduction is irrelevant, said Tim Estin, a broker with Aspen Snowmass Sotheby’s International Realty. “Our market relies on the winds of the ultra-rich, who will be getting a reputed tax break anyway that should more than make up for the loss of the mortgage deduction,” said Estin, who writes the Estin Report on the Aspen market. “For the rich, a mortgage is more a source of cheap funds - bankers line up to loan them real estate money in the hopes of relationship building - and the deduction aspect is almost ancillary.”

Link to article by Rob Urban and Prashant Gopal, Bloomberg News, November 10, 2017 Read More

Deal: Beautiful 35 Acre Woody Creek Ranch Closes at $13M / $1,016 sq ft Furnished.

Oct 22 - 29, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (11)

The Estin Report: Oct 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on 11/14. The Snapshots are usually posted on or near the 1st Monday of the month.

Sep 2017 Bottom Line
"We are on a remarkably similar path to 2015, the biggest year since the Great Recession.
• Through Sep 2017 YTD, total Aspen and SMV combined dollar sales have exceeded Sep 2015 YTD by 4.3%, $1.165B vs $1.117B.
• Unit sales are also similar: (327) in 2017 YTD vs (331) in 2015 YTD.
• And luxury sales of properties over $10M are tracking 2015: there have been (21) in 2017 YTD vs (23) in 2015 YTD.
Listing Inventory for..." Read more

Added to Sep 2017 Snapshot Summary (and in the future to all Monthly Snapshots):

Deep Dive: Sales by Location (Pgs 7 & 9 of Snapshot)

- Aspen: Sales by Neighborhoods
 - Snowmass Village: Sales by Neighborhoods

The Estin Report: Mid-Year 2017 State of Aspen Real Estate
was released in the summer 2017 in Current Reports. The 32-Page report is available on-line as PDF and in a print edition in kiosks at the airport, the info booth across from Paradise Bakery town and at Sothebys offices at 415 E Hyman in the Mall and 300 S Spring opposite the Art Museum.

"Flip Job" Examples: See recent Before/After Redevelopment in the Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (07/4/17) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 44, Oct 22 - 29, 2017

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.  Scroll down the page for home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it's about Aspen real estate, the information should be here.

Closed (7):  MLS#s 151357, 143793, 148027, 148077, 148846, 150411, 146717. This link is valid until 11/29/2017.

Under Contract/Pending (11): MLS#s: 151222, 141809, 144508, 151372, 143239, 147369, 149428, 149918, 150734, 151072, 151302. This link is valid until 11/28/2017.

Aspen Snowmass Solds Last Week: 

MLS #150411 - 0391/0401 Woody Creek Road, Woody Creek, CO. Sold Price: $13,000,000/$1,016 sq ft; furnished. More details below photo.

MLS #150411 - 0391/0401 Woody Creek Road, Woody Creek, CO. Sold Price: $13,000,000/$1,016 sq ft; furnished. Woody Creek single family home for sale. Ask Price: $13,950,000. (Original Price: $13,950,000 and _ days on the market since _.) This is a studio/2 half-bath, 12,785 sq ft single family home with 3 car garage on a 35.14 acres lot. Broker comments are "Sophisticated, timeless, livable, Italian farmhouse on 35 acres. A bucolic ranch featuring a 5-bedroom main home, guest home, horse barn, trout ponds & Woody Creek meandering the length of the property. Bountiful wildlife & endless outdoor adventure! The attention to detail is astounding: antique chestnut floors & intricate stone work add elegance & warmth to this estate home. The turn-of-the-century historic barn, new state-of-the-art barn with multiple stalls & paddocks, riding arena & lush pastures will appeal to the equestrian. Wine connoisseurs will appreciate the beautiful tasting room. The perfect gathering place complete with indoor/outdoor entertaining spaces, private guest wing, two media rooms & a home spa/gym area. This property has it all only 15-minutes from Aspen." 2015 taxes: $26,602. Under Contract Date: 08/28/2017; Sold Date: 10/24/2017. (Photos and broker comments courtesy of Compass)

MLS #148027 - Durant Condos, Central Core, 748 S Galena Street 5-D, Aspen, CO. Sold Price: $3,425,000/$2,048 sq ft; furnished. More details below photos.

MLS #148027 - Durant Condos, Central Core, 748 S Galena Street 5-D, Aspen, CO. Sold Price: $3,425,000/$2,048 sq ft; furnished. Aspen condo for sale. Ask Price: $3,650,000. (Original Price: $3,650,000 and 223 days on the market since 03/10/2017.) This is a 1969 built, 4 bedroom/3 bath, 1,672 sq ft condo. Broker comments are "No carrying skis up and down stairs here. Ski in & out of you backdoor in this elegant four bedroom penthouse level residence on Aspen Mountain. Seller has paid the over $460,000 in assessments for the newly completed exterior remodel which included new snowmelted walkways, new walkways to the residences, retaining walls, exterior facade, new windows, and more. Radiant floor heat, 9 foot ceilings, steam shower, W/D, Jacuzzi tubs, gas range, cooling, and sky lights. New bike storage and signage is currently being completed. An entirely new pool and hot tub are planned for this fall." 2016 taxes: $5,857; HOA Dues: $6,245 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/14/2017; Sold Date: 10/19/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen) Read More

845 Roaring Fork Road on Half Acre Closes at $11.6M/$3,608 sq ft.

Oct 8 - 15, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (10) + Under Contract / Pending (9)
The Estin Report: Sep 2017 Aspen Real Estate Monthly Snapshot has been posted in Current Reports.The Snapshots are usually posted on or near the 1st Monday of the month. 

Sep 2017 Bottom Line
"We are on a remarkably similar path to 2015, the biggest year since the Great Recession.
- Through Sep 2017 YTD, total Aspen and SMV combined dollar sales have exceeded Sep 2015 YTD by 4.3%, $1.165B vs $1.117B.
- Unit sales are also similar: (327) in 2017 YTD vs (331) in 2015 YTD.
- And luxury sales of properties over $10M are tracking 2015: there have been (21) in 2017 YTD vs (23) in 2015 YTD.

Listing Inventory for..." Read more 

Added to Sep 2017 Snapshot Summary:

     Deep Dive: Sales by Location (Pgs 7 & 9 of Snapshot)

            - Aspen: Sales by Neighborhoods
            - Snowmass Village: Sales by Neighborhoods
The Estin Report: Mid-Year 2017 State of Aspen Real Estate
was released in the summer 2017 in Current Reports. The 32-Page report is available on-line as PDF and in a print edition in kiosks at the airport, the info booth across from Paradise Bakery town and at Sothebys offices at 415 E Hyman in the Mall and 300 S Spring opposite the Art Museum.
"Flip Job" Examples: See recent Before/After Redevelopment in the Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (07/4/17) as additional re-sale properties come on the market at significantly higher prices.
__________________________
Market Activity Week 42, Oct 8 - 15, 2017
Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.  Scroll down the page for home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it's about Aspen real estate, the information should be here.
Closed (11):  MLS#s 151220, 142830, 143847, 144011, 144413, 148870, 149766, 150149, 150295, 150394, 150402. This link is valid until 11/14/2017.

Under Contract/Pending (6): MLS#s 144099, 145025, 147458, 147936, 151040, 151134. This link is valid until 11/14/2017.

Aspen Snowmass Solds Last Week:  
MLS #151220 - Second Aspen Company Subdivision, West End, 845 Roaring Fork Road, Aspen, CO. Sold Price: $11,600,000/$3,608 sq ft. More details below photo.
NO PHOTO AT PRESENT
MLS #151220 - Second Aspen Company, West End, 845 Roaring Fork Road, Aspen, CO. Sold Price: $11,600,000/$3,608 sq ft. Aspen single family home for sale. Ask Price: $11,600,000. This is a 1977 built/2010 remodeled, 5 bedroom/4 bath/1 half-bath, 3,215 sq ft single family home with 2 car garage on a 26,942 sq ft lot. There was another neighborhood sale (posted in the July 16 - 23, 2017 blog) at 805 Roaring Fork Rd  a 1983 built and 1997 remodeled, 4 bedroom/3 bath/1 half-bath, 4,170 sq ft single family home with 2 car garage on a 19,729 sq ft lot (almost 1/2 acre). The Roaring Fork Rd neighborhood is a well-known cul de sac of approximately (22) properties largely held by two prominent families. Broker comments are "Sold before MLS." 2016 taxes: $12,912. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/07/2017; Sold Date: 10/03/2017. (Photos and broker comments courtesy of Compass)
MLS #144413 - Hallam Addition, West End, 625 Gillespie Street, Aspen, CO. Sold Price: $6,250,000/$1,298 sq ft; unfurnished. More details below photos.
        
MLS #144413 - Hallam Addition, West End, 625 Gillespie Street, Aspen, CO. Sold Price: $6,250,000/$1,298 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $6,995,000. (Original Price: $7,500,000 and on the market since 11/19/14.) This is a 2007 built, 4 bedroom/4 bath/2 half-bath, 4,813 sq ft single family home with 2 car garage on a 4,890 sq ft lot. The property has been on the market for almost 3 years and was a difficult sell. Reasons? While neighborhood is one of the best, the house layout is awkward and the design uniquely challenging. The ground floor entry level contains awkward miscelaneous rooms without much defintition (e.g. is it a library or a living room adjacent to the front door? There's an outdoor screened in dining patio on the ground level but the kitchen is upstairs.)  and the sub-grade bedroom spaces are chopped up and almost undefinable (publisher comments). Broker comments are "Just steps from the Aspen Institute and the Music Tent, this home exemplifies what West End living is all about. Nestled in this highly desirable neighborhood, downtown is just a leisurely stroll or bike ride away. Complemented by the location is an inviting contemporary home boasting elegant style, clean lines, generous windows, quality finishes and views toward Aspen and Red Mountain. Three levels accessed by elevator or stairs open into a great room, well-appointed kitchen and master on the upper level, while the entry level provides family room space, an office, guest master suite and screened seasonal patio. The lower level offers two additional bedroom suites, media room with wet bar, wine room, and exercise room. A detached two car garage is easily accessible by snow-melted walkway and offers plenty of storage space and a dog wash. Bring your imagination and ideas to make this home the perfect Aspen retreat. Unfurnished and in "like new" condition." 2015 taxes: $16,574. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/14/2017; Sold Date: 10/12/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall) Read More

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