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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 just 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 (11): MLS# 124507, 124451, 123373, 121797, 121961, 117043, 124229, 122406, 123792, 124323, 113946. This link is valid for 30 days until 04/04/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (8): MLS# 115247, 123671, 123928, 124507, 124451, 123937, 123632, 121785 . This link is valid for 30 days until 04/04/2012.

Aspen Snowmass Solds Last Week:

MLS #115247 – East Aspen, Aspen Club condo, 1426 Crystal Lake Road, Aspen, CO: Sold Price: $1,950,000/$865 sq ft unfurnished. More details below photos.

MLS #115247 – East Aspen, Aspen Club condo, 1426 Crystal Lake Road, Aspen, CO: Sold Price: $1,950,000/$865 sq ft unfurnished; Asking Price: $2,250,000. (Original Price: $2,850,000 and 740 days on the market since 03/10/2010.) This is a 1976 built, 4 bedroom/3 bath/1 half bath, 2,600 sq ft condo with 2 car carport. Broker comments are, “Enjoy the quiet east end of Aspen from this spacious 2600 square foot, 3 or 4 bedroom Aspen Club Townhome. Open living area with lots of light, 3 fireplaces, 2 car carport, upgraded finishes and much more.” 2011 Taxes: $4,801; HOA Dues: $5,226 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/19/2012; Sold Date: 02/28/2012. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #123671 – Aspen, Central Core, Der Berghof Condominium, 110 E. Cooper Avenue #8, Aspen, CO: Sold Price: $760,000/$526 sq ft furnished plus approximately $650,000 additional Special Assesment due to buyer upon purchase for renovation completion of complex. More details below.

MLS #123671 – Aspen, Central Core, Der Berghof condo, 110 E. Cooper Avenue #8, Aspen, CO: Sold Price: $760,000/$526 sq ft furnished plus approximately $650,000 additional Special Assesment due to buyer upon purchase for renovation completion of complex to commence spring 2012; Asking Price: $1,375,000. (Original Price: $1,375,000 and 72 days on the market since 12/18/2011.) This is a 1962 built/2013 remodeled, 2 bedroom/3 bath, 1,444 sq ft condo. Broker comments are, “Opportunity knocks for new construction in the core. Get in on the ground floor for top floor opportunity. Great loft condo with incredible Aspen Mountain views. Building will be totally rebuilt/remodeled April 2012. Additional 600 square feet will make this property a two bedroom plus den, three bath unit on two levels with two balconies. Fully approved plans are available for review. Views, walk to town, parking. See Listing Agent for details. Special Assessment paid at closing by Seller and included in purchase price. 2010 Taxes: $1,675; HOA Dues: $970 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/12/2012; Sold Date: 02/28/2012. (Photos and broker comments courtesy of SDS Real Estate.)

MLS #123928 – Aspen, Central Core, Cooper Street Lofts condo, 311 S. Aspen Street #1, Aspen, CO: Sold Price: $650,000. More details below photo.

MLS #123928 – Aspen, Central Core, Cooper Street Lofts condo, 311 S. Aspen Street #1, Aspen, CO: Sold Price: $650,000; Asking Price: $690,000. (Original Price: $775,000 and 49 days on the market since 01/13/2012.) This is a 1976 built/2008 remodeled, 1 bedroom/1 bath, 733 sq ft condo. Broker comments are, “Manhattan meets Aspen in this open and edgy industrial chic 743 SF downtown Aspen loft. Gut remodel by distinguished award winning architect Harry Teague completed in 2008. All new wiring and plumbing. Loft features stylish blend of materials including concrete block perimeter walls, real plaster interior walls and ceiling, tile and wood floors. Small pet friendly building with easy to use back yard, low HOA dues and assigned 1-car parking. There is an additional 200 sqft of storage in unit for all your toys. Stroll or bike everywhere”” 2011 Taxes: $1,811; HOA Dues: $665 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/31/2012; Sold Date: 03/01/2012. (Photos and broker comments courtesy of Broker Direct of Colorado.)

MLS #124507 – Aspen, West Aspen single family home, 3100 Little Annie Road, Aspen, CO: Sold Price: $3,425,000 unfurnished. More details below photos.
MLS #124507 – Aspen, West Aspen single family home, 3100 Little Annie Road, Aspen, CO: Sold Price: $3,425,000 unfurnished; Asking Price: $3,400,000. (Original Price: $3,400,000 and 64 days on the market since 12/28/2011.) This property is unique with 3.5 acres and an off the grid, solar powered 2 bedroom/1 bath, 929 sq ft single family home. Broker comments are, “Irreplacable property. Totally self-contained, solar-powered heat (radiant) and electricity with generator back up. Superb construction.” 2007 Taxes: $1,974. Under Contract Date: 12/30/2011; Sold Date: 03/01/2012. (Broker comments courtesy of Aspen Snowmass Sotheby’s.)

NO PHOTOS IN MLS

MLS #124451 – Aspen, Gant condo, 610 S. West End Street, G-302, Aspen, CO: Sold Price: $1,450,000/$1,618 sq ft partially furnished; Asking Price: $1,450,000. (Original Price: $1,450,000 and 113 days on the market since 02/27/2012.) This is a 1973 built/1998 remodeled, 2 bedroom/2 bath, 896 sq ft condo. 2011 Taxes: $3,806; City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/20/2012; Sold Date: 02/17/2012. (Broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123937 – Snowmass Village, Two Creeks single family lot, 111 Timber Ridge Lane, Snowmass Village, CO: Sold Price: $3,350,000/$1,227 ac. More details below photo.

MLS #123937 – Snowmass Village, Two Creeks single family lot, 111 Timber Ridge Lane, Snowmass Village, CO: Sold Price: $3,350,000. Asking Price: $3,500,000. (Original Price: $3,500,000 and 45 days on the market since 01/16/2012.) This is a 2.73 acre, single family lot with ski in-ski out access in prestigous Two Creeks subdivision. 2011 Taxes: $42,948; HOA Dues: $1,115 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/27/2012; Sold Date: 02/27/2012. (Photos courtesy of Joshua & Co.)

MLS #123632 – Snowmass Village, Ridge Run single family home, 280 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $2,300,000/$539 sq ft furnished. More details below photos.

MLS #123632 – Snowmass Village, Ridge Run single family home, 280 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $2,300,000/$539 sq ft furnished; Asking Price: $2,495,000. (Original Price: $2,495,000 and 75 days on the market since 12/14/2011.) This is a 1987 built/1996 remodeled 4 bedroom/4 bath, 4,265 sq ft single family home with 2 car garage. Broker comments are, “A true work of art created by Frank Lloyd Wright protégé, Don Erickson. Designed “in-the-round,” the home has a perfect flow for entertaining. Tall ceilings, dramatic stone towers, circular skylights, and a soaring two-story rock fireplace. Views of Mt. Daly and slopes. Multiple outdoor entertaining areas. Elevator, indoor spa. Easy ski access to gondola and hiking/bike trails. A compelling price for a high-quality home.” 2011 Taxes: $8,022; HOA Dues: $90 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/29/2011; Sold Date: 02/27/2012. (Photos and broker comments courtesy of BJ Adams & Co.)

MLS #121785 – Snowmass Village, Brush Creek Village single family home, 91 Solar Way, Snowmass Village, CO: Sold Price: $862,500/$321 sq ft furnished. More details below photos.

MLS #121785 – Snowmass Village, Brush Creek Village single family home, 91 Solar Way, Snowmass Village, CO: Sold Price: $862,500/$321 sq ft furnished; Asking Price: $975,000. (Original Price: $975,000 and 246 days on the market since 06/29/2011.) This is a 1981 built, 4 bedroom/3 bath/1 half bath, 2,684 sq ft single family home. Broker comments are, “Great Views, legal rental apartment. # bedroom house currently rented for $2300/mo. Studio rented for $1100/mo. Lots of development options, but can move right in and have studio help with mortgage.” 2011 Taxes: $4,634; HOA Dues: $450 Qtr. Under Contract Date: 12/01/2011; Sold Date: 03/01/2012. (Photos and broker comments courtesy of Sweeney Real Estate.)

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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