Unfortunately, I was misquoted in a 07/11/14 article on the improving Aspen real estate market.

The article states, “In an interview, Estin said it is probably more precise to say that the market is poised to blast off.”

I never wrote nor said that in or about my Q2/H1 State of the Aspen Market Report. On Fri 9 AM 7/11/14 the article was corrected online: “The Aspen real estate market appears to be at lift-off stage — the second quarter and first half of 2014 is what a decidedly improving market looks like,” Tim Estin wrote in his “Estin Report,” a quarterly analysis of the market. Estin is an associate broker with Aspen Snowmass Sotheby’s International Realty.”

I wrote the following:

“The Aspen real estate market appears to be at lift-off stage—the 2nd Quarter and 1st Half of 2014 is what a decidedly improving market looks like. It’s likely that we’ll look back on this period as the time when the Aspen real estate market finally turned upward (barring any unforeseen disruptive macro events).

A rapidly falling inventory of Aspen properties for sale, combined with greater demand from more confident and eager buyers hoping “to get in while they still can,” suggests that the market in general and prices—especially for unique, high quality, new, or newly remodeled offerings—are poised to rise. In some neighborhoods and for specific properties, this has already started.

I said explicitly the following:

“The market is changing. For the first time in close to 6 years, demand has exceeded supply…that is significant, but that even using the term ‘lift off ‘ might be too strong, because readers might construe it as ‘blast off’ “.

I work very hard trying to figure out what’s going on, portraying it with an honest, open discussion. I am biased towards a conservative approach. I do not lean towards hyperbole, hype or exaggeration. My reporting is based on the facts, not predictions or prognostications, but I do try to make sense of it all, what’s happening, which does require a straight forward opinion..

Regrettably, this will be long remembered as the “blast off” article because that is the takeaway.

The full report will be published online early next week. I hope you will read it for your own interpretation.

Tim Estin

Click image for enlarged view of Q1-Q2 2014 State of the Aspen Market Chart