Scroll down page for prior week’s market activity.

The Estin Report: Monthly Sales Snapshot is published on the 1st Monday of every month. The March 2012 Snapshot will be published later today April 2nd or by Tues. April 3rd latest.

THE ESTIN REPORT: STATE OF THE ASPEN REAL ESTATE MARKET 2011 YEAR AND 4TH QUARTER released Jan 9, 12

Click image or link for executive summary and full report

Tim Estin is an active Aspen real estate broker with Coldwell Banker Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly or semi-annually, annually and also special reports. For blog archives, scroll to bottom of this page and search by date or topic. Or search this site in SearchEstinAspen.com on the menu bar. If it’s about Aspen real estate, chances are there’s something about it here.

Last Week’s Market Highlights – Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Market Commentary

See recently posted Feb 2012 Aspen Snowmass Market Sales Charts with commentary. Going forward monthly sales snapshots will be published on the 1st Monday of each month.

An article in the Aspen Business Journal three weeks ago provides an in-depth review of data and reports on Aspen real estate 2011 performance and where we are headed. It includes an interview with Tim Estin. See the Feb. 6, 12 article, “Aspen Real Estate: Improvements with Caveats in 2011”.

Under Contract / Pending (8): MLS# 123284, 118550, 124040, 110129, 124650, 120458, 122917, 123013. This link is valid for 30 days until 05/01/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5): MLS# 122406, 123792, 123338 124875, 118863. This link is valid for 30 days until 05/01/2012.

Exceptional Aspen Commercial Property Under Contract:

MLS #118550 – Aspen, Central Core, Aspen Townsite commercial building, “Bidwell Building”, 434 E. Cooper Avenue, Aspen, CO: Asking Price: $27,000,000. More details below photos.

MLS #118550 – Aspen, Central Core, Aspen Townsite commercial building, , “Bidwell Building”, 434 E. Cooper Avenue, (Center of downtown) Aspen, CO: Asking Price: $27,000,000. (Original Price: $30,000,000 and 526 days on the market since 10/18/2010.) This is a 1965 built commercial building designed by reknowned Aspen architect Fritz Benedict, with multiple retail, restaurant and office tenants occupying a total of 16,954 sq ft. Broker comments are, “100% A+ location commercial building with many possibilities. Tenants include Kemosabe, Sports Center, Keating Gallery, Hunter Bar, Le Tub and office tenants.” 2011 Taxes: $119,411. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/24/2012; Proposed Close Date: 09/24/2012. (Photos and broker comments courtesy of Setterfield & Bright.)

Aspen Solds Last Week:

MLS #122406 – Aspen, McLain Flats, Starwood single family home, 70 Larson Drive, Aspen, CO: Sold Price: $7,800,000/$982 sq ft furnished. More details below photos.

MLS #122406 – Aspen, McLain Flats, Starwood single family home, 70 Larson Drive, Aspen, CO: Sold Price: $7,800,000/$982 sq ft furnished; Asking Price: $8,750,000. (Original Price: $11,850,000 and 581 days on the market since 08/16/2010.) This is a developer built spec home 2008 built/2010 remodeled, 5 bedroom/5 bath/2 half bath, 7,940 sq ft single family home on 2.63 acres with 2 car garage that sold as a bank short sale on 7/2/10 for $5.5M/$757 sq ft. The buyer did some minor remodel work then turned around and put it back on market In Aug ’10 at $11.85M. Even at sold price $7.8M, a tidy return was made. The broker comments are, “This newly constructed home sits at top of Starwood, Aspen’s only gated community, with spectacular views of all four ski mountains and the entire Elk Range. With no detail overlooked, this fully furnished home features a country kitchen with an outdoor cooking center, state of the art home theater, full home sound and lighting, wine storage and tasting room, multiple family/entertaining spaces, extensive outdoor entertaining areas, air conditioning, radiant heat, elevator, and hot tub. Starwood also offers tennis courts, cross country skiing and common pastures to board your horses.” 2011 Taxes: $25,179; HOA Dues: $500 Yr. Under Contract Date: 02/28/2012; Sold Date: 03/30/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123792 & 124323 – Aspen, Red Mountain single family home, 200 W. Reds Road, Aspen, CO: Sold Price: $7,250,000/$1,127 sq ft unfurnished. More details below photos.

MLS #123792 & 124323 – Aspen, Red Mountain single family home, 200 W. Reds Road, Aspen, CO: Sold Price: $7,250,000/$1,127 sq ft unfurnished; Asking Price: $8,500,000. (Original Price: $10,500,000 and 475 days on the market since 03/14/2011.) This is a 1988 built, 6 bedroom/6 bath/1 half bath, 6,428 sq ft single family home with 2 car garage on 1.06 acres. Broker comments are, “Stunning views of Aspen Mountain, Highlands,Tiehack at Buttermilk and Independence Pass from absolutely every room. Master Suite and Guest Master Suite on Main Level. Four en-suite bedrooms downstairs all with private access to the outdoors. Soaring Wood ceilings, one wood burning and one gas fireplace and a centrally located custom kitchen equipped with SubZero quality appliances add to homes appeal. A quick and beautiful 1.8 mile drive to the center of town. Great opportunity to build your dream home. Build 10,749 square feet with two TDR’s (not included), 6,749 sq. ft. above grade and 4,000 sq. ft. below grade. Enjoy stunning views of Aspen Mountain, Highlands, Buttermilk, Mt. Sopris and Independence Pass. Existing home on property may be lived in during the process.” 2011 Taxes: $16,241. Under Contract Date: 02/23/2012; Sold Date: 03/29/2012. (Photos and broker comments courtesy SDS Real Estate.)

MLS #123338 – Aspen, East Aspen, Eastwood single family home, 122 Eastwood Drive, Aspen, CO: Sold Price: $1,867,000/$828 sq ft unfurnished. More details below photos.

MLS #123338 – Aspen, East Aspen, Eastwood single family home, 122 Eastwood Drive, Aspen, CO: Sold Price: $1,867,000/$828 sq ft unfurnished; Asking Price: $2,395,000. (Original Price: $2,850,000 and 1,568 days on the market since 11/26/2008.) This is a utterly “retro” charming 1973 built, 4 bedroom/2 bath/1 half bath, 2,253 single family home. While arguably a lot sale, the house has enough charm to keep it as is – a small wonderful little ski haus from a bygone era. Broker comments are, “This home is a good old fashioned ”aspen mountain” home with incredible views towards Independence Pass. HIgh on a hill with almost all day sun, the home is on two 2 levels and all the rooms have views. The lot is covered with pine and aspen, offering privacy and that ”woodsy” feel. The irrigated fenced in entry is filled with flowers in the summer. Just a few minutes walk or bike ride in to town but in a world of it’s own. Take the house ”as is” or do a redevelopment project to expand the home and add a garage. Homes on both sides of this house have been redeveloped to full developemnt potential. New roof in 2010 with 7 year warranty. Washer and dryer new in 2010. 2011 Taxes: $6,164. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/07/2012; Sold Date: 03/23/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #124875 – Aspen, West End single family home, 331 W. Bleeker Street, Aspen, CO: Sold Price: $3,275,000/$1,004 sq ft furnished. More details below photo.

MLS #124875 – Aspen, West End single family home, 331 W. Bleeker Street, Aspen, CO: Sold Price: $3,275,000/$1,004 sq ft furnished; Asking Price: $3,275,000. (Original Price: $3,275,000 and 0 days on the market since 03/30/2012. One should say the property was never “on” the market and the sale occurred privately.) This is a 2003 built, 4 bedroom/4 bath/2 half bath, 3,260 sq ft single family home with 1 car garage. Broker comments are, “Sold before MLS.” 2011 Taxes: $7,767. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/30/2012; Sold Date: 03/30/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #118863 – Snowmass Village, Pines At Owl Creek single family ski in/ski out home, 564 Mountain Crest Lane, Snowmass Village, CO: Sold Price: $5,750,000/$1,041 sq ft partially furnished. More details below photos.

MLS #118863 – Snowmass Village, Pines At Owl Creek single family home, 564 Mountain Crest Lane, Snowmass Village, CO: Sold Price: $5,750,000/$1,041 sq ft partially furnished; Asking Price: $6,925,000. (Original Price: $9,950,000 and 927 days on the market since 07/01/2009.) This is a 2008 built, 6 bedroom/6 bath/1 half bath, 5,520 sq ft single family home with 3 car garage in the prestigous Pines at Owl Creek area – known for newer and somewhat larger Snowmass ski-in/out homes. Broker comments are, “Beautifully designed ski in/ski out home with great views. Large living space built for entertaining. Large decks with two outdoor fireplaces, stone and hardwood flooring, two master bedroom suites, large bunk room, brand new construction.” 2011 Taxes: $22,802; HOA Dues: $5,404 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/14/2012; Sold Date: 03/30/2012. (Photos and broker comments courtesy of Alpine Real Estate, Inc.)

Tim Estin welcomes your business, inquiries and comments. Email: [email protected] or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s AspenRealEstateBlog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click one of the different subscription options in banner at the top of page:

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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 Email him. The Estin Report is copyrighted 2012 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Real Estate Market, By Aspen broker Tim Estin, mba, gri.”

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