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Market Highlights from Last Week:

o (4) Aspen Core condos closed. Condo sales in general have been very slow, but this represents a noteworthy pick up in a single week’s period. And two of these condos were prime river front properties.
o (4) Aspen vacant lots and/or lots with tear down homes went under contract…some of the best deals right now are land opportunities. For more information on vacant land sales, go to June 18th post, The Estin Report: Aspen Snowmass Vacant Land Report 2004 – 2010 (to June 22, 2010) and search this site under “vacant land:”

Last Week’s Aspen and Snowmass Sales and Under Contract Activity: Last week’s real estate sales activity appears below for the upper Roaring Fork Valley for all property types over $250,000 excluding fractionals in Aspen, Snowmass Village, Woody Creek and Old Snowmass (although Residences at Little Nell and Dancing Bear are included due to their higher fractional price points). Because the MLS link(s) to photos and property details expire after 30 days, photos and descriptions of the closed properties are posted to preserve an archive of sold market activity.

For a Spreadsheet Summary of the past week’s activity, see The Estin Report: Aspen Snowmass Weekly Real Estate Sales Statistics Sept. 12- 19, 2010

Closed/Solds (4): MLS#’s 109043, 107225, 114778, 108982 Link is valid for 30 days until 10/19/10.

MLS # 109043 – 916 E Hopkins Unit 1, Queen Victoria Condominium, Downtown Aspen, CO:
Sold Price:$1,100,000/$611 sq ft; Ask Price: $ 1,499,000. /$834 sq ft (Original Price:1,999,999. and 610 days on the market). This a ground/partial sub-grade level 3 bdrm/2 bath, 1,800 sq ft . Broker remarks, “Large 3 bd Condo with private yard on the Roaring Fork. 1800 ample sq ft to live large while being walking distance to all of town. Great open living and dining room with wood burning fireplace. Oversized master suite. great unit, very well priced. Motivated Seller, Owner carry/finance possible Call for details. Bring all offers.” 2009 Taxes $4,620 (requires verification) ; HOA Fees: $2,173 Qtr.
City of Aspen RETT transfer tax of approx. 1.5% applies to buyer. (Photos and description courtesy of Carol Dopkin Real Estate)

MLS # 107225 – Chateau Eau Claire Condominiums, 1034 E Cooper 26-A Aspen, CO:
Sold Price: $1,750,000/$1,287 sq ft; Ask Price: $1,800,000/$1324 sq ft. (Original price: $2,600,000 and 743 days on the market). This is a river front 3 bdrm/3 bath, 1,360 sq ft Aspen Core condo built in 1974. The listing broker’s comments are, “On the river! Three- bedroom, two-bath unit in the popular Chateau Eau Claire complex. Bright, with morning sun. Master bedroom and living room overlook the Roaring Fork. Two wood-burning fireplaces. Artwork and Indian artifacts excluded.” 2008 Taxes: $4,255 Yr; HOA Fees: $$3,738/Qtr.
City of Aspen RETT transfer tax of approx. 1.5% applies to buyer.(Photos and description courtesy of Aspen Real Estate Company).

MLS #114778 – Creektree Condos, 729 E. Bleeker, Downtown Aspen, CO
: Sold Price: $3,100,000/$1,206 sq ft; Ask Price: $3,450,000/$1,359 sq ft (Original list price: $3,995,000 and 343 days on the market). This is a 1976 built/ 2006 remodeled 4 bdrm/3 bath river front condo. The broker remarks, “There is unique Zen to this core property within walking distance of everything as river, trees, and privacy coalesce to forge this special enclave. Creektree is one of Aspen’s vintage spots and like a fine wine it just keeps getting better. Located directly on the Roaring Fork River and facing Aspen Mountain, this in town location is among the most coveted.” 2008 Taxes: $6,797 yr; HOA Fees: $300. per mos.
City of Aspen RETT transfer tax of approx. 1.5% applies to buyer.(Photos and description courtesy of Mason Morse Real Estate).

MLS # 108982 – Chateau Snow Condo, 926 Waters Ave #301, Aspen Core, CO
: Sold Price: $1,500,000/$1,228 sq ft; Ask Price:$1,550,00/$1,269 sq ft. (Original List Price: $1,695,000 on 1/08/2009 and 600 plus days on market). This condo went under contract 07/25/2009.) It closed 8/31/10 but was not entered in MLS until this past week with an incorrect date. Because this property has been under contract for over a year, the closing price may be indicative of unique circumstances and not representative of current sold prices. More research would be necessary for an actual opinion. This is a 2 bedroom/2 bath, 1,221 sq ft top floor 1969 built/ 2006 partially remodeled condo in a small 6-8 unit complex 2 blocks from the Ajax Gondola. The list broker writes, “Enormous top floor, 2 BR, 2 bath condominium facing Aspen Mountain with great views. Air Conditioned. Wood burning fireplace, windows on 3 sides. Common areas have been upgraded. Quiet 7 unit building, with only 2 apartments per floor. Great parking, low monthly costs. Ski storage.” 2008 Taxes: $3,291 yr; HOA Dues: $2,567 Qtr.
City of Aspen RETT transfer tax of approx. 1.5% applies to buyer.(Photos and description courtesy of Morris & Fyrwald/Sotheby’s International Real Estate)

Under Contract/Pending (9): MLS #’s 107945, 107946, 116111, 116284, 102523, 116733, 116632, 117783, 111498 Link is valid for 30 days until 10/19/10. Photos and description of Under contract listings are not posted unless special circumstances dictate.

Tim Estin is an active Aspen Snowmass real estate broker and he welcomes your comments, inquiries and business. Email him or call 970.920.7387. Subscribe to The Estin Report and blog on twitter @EstinAspen or click “Join the conversation” below:

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Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or by email.. The Estin Report is copyrighted 2010 and all rights reserved.. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri,”