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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

An article in the Aspen Business Journal two 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 (4): MLS# 121986, 121423, 122389, 121341. This link is valid for 30 days until 03/19/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (3): MLS# 121716, 121490, 123435. This link is valid for 30 days until 03/19/2012.

Aspen Solds Last Week:

MLS #121716 – Aspen, Central Core, Enclave At Aspen, Townhome, 411 S. West End Street Unit 5, Aspen, CO: Sold Price: $5,475,000/$1,452 furnished. More details below photos.

MLS #121716 – Aspen, Central Core, Enclave At Aspen, Townhome, 411 S. West End Street Unit 5, Aspen, CO: Sold Price: $5,475,000/$1,452 furnished; Ask Price: $5,950,000. (Original Price: $5,950,000 and 280 days on the market since 05/12/2011.) This is a three level townhome 3 blocks from Aspen Mountain Gondola, 1995 built/2011 remodeled, 4 bedroom/4 bath/1 half bath, 3,769 sq ft condo with 2 car garage. Broker comments are, “Only a block from downtown, the Enclave residence encapsulates the perfect setting for Aspen-style entertaining or relaxing. Impressive two-story entrance that opens into a gracious foyer and staircase with great room style living and gourmet kitchen areas upstairs. Two luxuriously appointed master suites feature a master bath, large closet with built ins, and a cozy sitting room with built in fireplace. Other features include a family/media room, two guest rooms, and elevator. Residence is offered turn key.” 2011 Taxes: $14,241; HOA Dues: $3,500 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/13/2012; Sold Date: 02/16/12. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #121490 – Aspen, Central Core, Aspen Mountain Townhouses, 623 S. Monarch, Base of Lift 1A area, Aspen, CO: Sold Price: $1,150,000/$929 sq ft. More details below photos.

MLS #121490 – Aspen, Central Core, Aspen Mountain Townhouses, 623 S. Monarch, near base of Lift 1A, Aspen, CO: Sold Price: $1,150.000/$929 sq ft; Ask Price: $1,250,000. (Original Price: $2,400,000 and 973 days on the market since 12/19/2008.) This is a 1985 built/2008 remodeled, 3 bedroom/2 bath, 1,238 sq ft townhouse. Broker comments are, “This exquisitely designed, furnished and air conditioned home is being sold turnkey. The open living area seats eight for dinner, a perfect gathering area after a big ski day. The Master is its own level with highest quality finishes and plumbing fixtures. Jacuzzi tub, steam shower and Toto toilet/bidet combo. Just a few steps from Aspen Mountain and the St. Regis pool and spa.” 2010 Taxes: $4,626; HOA Dues: $6,092 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/14/2012; Sold Date: 02/14/2012. (Photos and broker comments courtesy of Carol Dopkin Real Estate.)

MLS #123435 – Aspen, Central Core, Lift One condo, 131 E. Durant Avenue Unit #203, Aspen, CO: Sold Price: $912,000/$1,013 sq ft furnished. More details below photos.

MLS #123435 – Aspen, Central Core, Lift One condo, 131 E. Durant Avenue Unit #203, Aspen, CO: Sold Price: $912,000/$1,013 sq ft furnished; Ask Price: $1,025,000. (Original Price: $1,195,000 and 259 days on the market since 02/11/2010.) This is a 1972 built/2010 remodeled, 2 bedroom/2 bath, 900 sq ft condo near Lift 1A at the base of Aspen Mountain. Broker comments are, “Recently renovated and fully furnished this 2 bedroom 2 bath faces north and enjoys the coveted location of Lift One in the core of Aspen. Excellent Amenities. Good Rental income to help cover expenses. Association assessments vary each month based on rental income and occupancy. Common expenses vary each month; based on unit income as a % of the total income for each month, for all condos.” 2011 Taxes: $2,254; HOA Dues: Varies per month. City of Aspen Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/28/2012; Sold Date: 02/15/2012. (Photos and broker comments courtesy of BJ Adams & Co.)

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 subscribe button in the menu bar on left:

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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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