Blog Archives: January 2007

This article was originally published in the Mountain Business Journal, Jan 2, 2007. Locally, the past three years have been unprecedented in the Aspen/Roaring Fork Valley’s upward trajectory of real estate values. Prices are at record levels – although at any point in time in the past 50 years in Aspen they have been – and inventory is tight. The state of the housing market in much of the county may be gloomy but in the Roaring Fork Valley (Aspen, Basalt, Carbondale, Glenwood Springs) real estate values – and especially Aspen/Snowmass – continue to be strong with few, if any, signs of weakening and only isolated, property specific, areas of weakness. Along with a handful of other resorts, Aspen’s international credentials are unique. The real estate market here is cushioned by a global demand for the Aspen product – a sport, intellectual, and cultural mountain resort powerhouse that’s unmatched anywhere in the U.S. And there is a limited supply of properties here. There are many reasons for continued strong growth, and here are some national trends and more specific local trends and statistics directly impacting real estate in the Aspen area. Read More

By Tim Estin mba, gri / Broker Associate / Mason Morse Real Estate Aspen / 970.920.7387 office (Nov 2008 author's comment: lot values are down an estimated 10-20% since this article was written in '06. The current credit freeze has virtually shut down land sales and related financing. Where there have been isolated sales, prices are generally lower than those quoted in this article written during the record year in the Aspen real estate marketplace.) original article in Mountain Business Journal, March 21st, 2006) Land value drives real estate prices. And as vacant land in Aspen is almost impossible to find, much of the existing home stock built in the 1960’s through the ‘80’s becomes attractive to builders and developers for what lies beneath, not the structures themselves in spite of their apparent livability. This is not just an Aspen phenomenon. Most high end localities and resorts around the country are experiencing this ‘tear down land rush’ as well. Read More

Land value drives real estate prices. And as vacant land in Aspen is almost impossible to find, Read More