Blog Archives: September 2012

Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… Read More

ASPEN REAL ESTATE - Aspen real estate agent Tim Estin, of Coldwell Banker Mason Morse Real Estate, expects gradual improvement to continue this year, with an emphasis on gradual. He reported in his online newsletter in mid-July that national economic uncertainty was creating a “wait and see” attitude among prospective buyers in Aspen. There is consensus that the Aspen-area real estate market has settled at or near the bottom, Estin wrote, but many buyers remain unsettled.“Whereas cautious optimism prevailed at the beginning of this year, there seems to be greater uncertainty at the half year mark,” Estin wrote in July. By Scott Condon, September, 21 2012 AT Read More

Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… Read More

ASPEN REAL ESTATE - The five lots the U.S. Forest Service is looking to carve out of its Aspen West End property and sell via an online auction could each fetch between $2 and $2.5 million, according to a local real estate expert, and accommodate at least a 3,200-square-foot house... Aspen real estate broker Tim Estin [with Coldwell Banker Mason Morse] said that there have been two land sales in the West End this year, and two additional lots are under contract.A 7,500-square-foot corner lot at 501 W. Hallam closed for $2 million in January, Estin said, while another 6,000-square-foot lot closed for $4 million in April. There is an active listing for a 6,000-square-foot lot near the Forest Service’s land that has been on the market for 832 days, Estin said. The original list price of $2.68 million has been lowered to $2.48 million, he said. Based on that and other asking prices for West End lots, Estin estimated the parcels could each go for $2 to $2.5 million, although he said the Forest Service’s motivations and timeline will have a lot to do with the final sale price. Estin also suggested that the Forest Service might be wise to not put all five lots to auction at once. “Five lots would be flooding the system a bit,” he said. Snelson said the agency has taken that concern into account, and is evaluating all strategic options. By Curtis Wackerle, Sept. 12, 2012 ADN The USFS property in Aspen, bordered by Hallam and 7th St on the bottom, is slated for redevelopment. Five lots in the upper right are to be sold to fund a project that includes a new admin. bldg. and visitor center, at lower left, and other facilities. Courtesy AT and U.S. Forest Service Read More

Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… Read More

ASPEN REAL ESTATE - A spec home in Aspen’s Smuggler neighborhood recently sold for $4,225,000, an amount that is 68 percent less than its original, 2006 pre-construction price. It was most likely the greatest single-family home discount in the Aspen area since the economic downturn began four years ago, according to one broker’s calculations. Tim Estin, a broker with Coldwell Banker Mason Morse, spent some time doing research and calculations before publishing the sale on his Estin Report real estate blog. He found only one other discounted sale that might have been close—a green-built spec home at W/J that sold for $6 million, a 57 percent discount from the original nearly $14 million price. The five-bedroom, 8,000-square-foot home at 802 Gibson Avenue was the last of the three spec homes called the Aspen View Residences to sell. The home, near the corner of Lone Pine Road and adjacent to the Smuggler trailer park, was put on the market at the end of 2006—at the height of the real estate boom—before its completed construction in 2008—just before the crash. It was originally listed for $13.16 million. By Catherine Lutz, Sept. 7, 12, ABJ Link to article Read More

Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… Read More