The Estin Report: Feb 2016 Aspen Snowmass Real Estate Market Snapshot was released 03/12/2016 v10.5. inCurrent Reports. On Monday afternoon, 3/14/16, I made some significant changes to my “Bottom Line” comments. Please review.

The Monthly Snapshots are posted on or near the 1st Monday of the month. Two additional pages have been added to these Snapshots. They are 1) Single Family Home Sales by Aspen and Snowmass Village neighborhoods; 2) Condo Sales by Number of Bedrooms. Both contain figures based on the subject month and the most recent (3) month average.

See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (02/16/16) as additional re-sale properties come on the market at significantly higher prices.

Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date to 2008. Or useSearchEstinAspenin the menu bar to search by topic, address, subdivision, complex, date, etc. If it’s about Aspen real estate, the information should be here.

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Market Activity Week 11, March 13 – 20, 2016

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.

Closed (9):MLS#’s:127956, 142620, 140330, 141001, 141794, 131673, 137107, 132975, 141360.This link is valid until 4/19/2016.

Under Contract/Pending (8):MLS#’s:137234, 142118, 137124, 138891, 142462, 142813, 142913, 143035. This link is valid until 4/19/2016.

Aspen Snowmass Solds Last Week:

MLS #127956 – Townsite of Aspen, West End, 308 N 1st Street, Aspen, CO: Redevelopment property. Sold Price: $9,000,000/$2,325 sq ft; unfurnished. More details below photos.

MLS #127956 – Townsite of Aspen, West End, 308 N 1st Street, Aspen, CO: Redeveloment property. Sold Price: $9,000,000/$2,325 sq ft; unfurnished. Asking Price: $7,500,000. (Original Price: $7,500,000 and 870 days on the market since 12/19/2013.) This is a 1890 built and 1987 remodeled, 5 bedroom/5 bath/2 half-bath, 3,870 sq ft single family home with 1 car garage on a 12,004 sq ft lot. This property sold on Aug. 15. 2015 but is being recorded in the MLS now for the first time. There are (2) normal size West End lots at 6.000 sq ft each that sold to the same buyer at $4.2M (east side lot with historic home pictured) and $4.8M (west side corner lot). The property had 10-15 full priced offers, but the sellers condition that they (an estate) find a suitable replacement property hampered the selling process – they were unwilling to agree to a time limitation to find/secure the replacement. Buyers balked. In this case, the longer it took to find that replacement, demand for this exquisite size holding and location soared as the market took off. Broker comments are “This rare ESTATE in one of the West End’s most desirable locations offers a private park-like setting on a large corner lot yet it is less than a 3 block walk to downtown Aspen! The generously proportioned Victorian home was most recently remodeled in 1989, has 9′ ceilings, a comfortable layout & includes a charming detached playhouse/office. The property consists of 2 legally subdivided 6000sf lots, each with 3240sf of FAR. This property enjoys some of the West End’s best views including unobstructed views of Aspen Mtn., Independence Pass, Red Mtn.,Shadow Mtn., Willow Peak and Buttermilk. Lot 1 (MLS 13243) can be purchased separately at $4.5M and Lot 2 (MLS 132433) can be purchased separately at $3.85M, subject to HPC approvals to modify existing home. See listing broker for details.” 2011 Taxes: $15,316. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/06/2015; Sold Date: 08/17/2015. (Photos and broker comments courtesy of Aspen Core Realty)

MLS #142620 – Central Core, 827 E Dean, Aspen, CO: Sold Price: $4,135,000/$2,188 sq ft; furnished. More details below photos.

MLS #142620 – Central Core, 827 E Dean, Aspen, CO: Sold Price: $4,135,000/$2,188 sq ft; furnished. Asking Price: $5,250,000. (Original Price: $5,250,000 and 33 days on the market since 02/05/2016. The property sold on April 15, 2015 at $3.9M) This is a 1954 built, 3 bedroom/3 bath, 1,889 sq ft single family home on a 6,000 sq ft lot. Broker comments are “Rare, one of a kind, quintessential ski chalet located right in the heart of Aspen- close to restaurants, shops, and one block from gondola. Spacious, sunny backyard borders open space of Glory Hole Park – perfect for summer entertaining! Expansive great room with brand new gas fireplace, new carpet. Hot tub just off patio. Separate cottage offers private quarters with bathroom. Great family home or rental investment. Approvals in progress to expand to 6 bedrooms with pool. Plans are available upon request.” 2015 Taxes: $8,833. Under Contract Date: 02/17/2016; Sold Date: 03/09/2016. (Photos and broker comments courtesy of Aspen Agency, Inc.)

No photo available in MLS for this Central Core condo.

MLS #140330 – Fasching Haus, Central Core, 718 S Mill Street 6, Aspen, CO: Sold Price: $1,850,000/$1,483 sq ft; furnished. Asking Price: $1,947,000. (Original Price: $1,995,000 and 230 days on the market since 07/29/2015.) This is a 1969 built and 2005 remodeled, 3 bedroom/3 bath, 1,247 sq ft condo. Broker comments are “Handsomely tailored with beautiful upgrades and impeccable taste, along with a prize location puts this Aspen core ski condominium at the top of your list. The open, very livable main living area on the top level and three bedroom suites are all thoughtfully designed to fit the way today’s family lives. Sip your morning coffee among the trees that surround your back patio that overlooks the lovely pool area. Soak in the Jacuzzi among twinkling lights and under starlit skies – it’s only a few steps from your back door. On the private, Mill Street side of the Fasching Haus. Here, you are steps to the Remede Spa in the St. Regis and two blocks from Lift 1A, the Aspen Mountain gondola, and downtown.” 2015 Taxes: $3,204; HOA Dues: $3,448 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/08/2016; Sold Date: 03/15/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)

MLS #141001 – Le Clairvaux, Central Core, 803 E Durant Avenue 3, Aspen, CO: Sold Price: $1,050,000/$1,093 sq ft; furnished. More details below photos.

MLS #141001 – Le Clairvaux, Central Core, 803 E Durant Avenue 3, Aspen, CO: Sold Price: $1,050,000/$1,093 sq ft; furnished. Asking Price: $1,089,000. (Original Price: $1,089,000 and 175 days on the market since 09/15/2015.) This is a 1965 built, 2 bedroom/2 bath, 960 sq ft condo. Broker comments are “What a great location! Just two blocks to the Silver Queen Gondola. Super convenient … no stairs. Aspen Mountain view, south facing, lots of light. Assigned parking space right in front of your door. Gas fireplace, new GE full size stacking washer/dryer. New top up, bottom down Levelor blinds in the living room, Granite counter tops, solid core 6 panel fir doors. Storage.” 2014 Taxes: $2,517; HOA Dues: $1,996 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/14/2015; Sold Date: 03/15/2016. (Photos and broker comments courtesy of Frias Properties of Aspen)

MLS #141794 – Gant, Central Core, 610 S West End Street C-104, Aspen, CO: Sold Price: $885,000/$907 sq ft; furnished. More details below photos.

MLS #141794 – Gant, Central Core, 610 S West End Street C-104, Aspen, CO: Sold Price: $885,000/$907 sq ft; furnished. Asking Price: $949,000. (Original Price: $995,000 and 119 days on the market since 11/20/2015.) This is a 1972 built and 2010 remodeled, 2 bedroom/2 bath, 975 sq ft condo. Broker comments are “Kept vacant for ease of showing. Located in a prime location within the complex this well-appointed condo features wood-burning fireplace, granite counters in kitchen and bath, wood ceilings, and private patio. Offered turnkey, Destination Hotels manages the Gant, giving world class service to Aspen’s premier resort. The property has two pools, hot tubs, gym, café, state of the art conference center, and hard/clay tennis courts, free shuttle service to/from the airport, to shopping, the mountain or dinner. Let your investment take advantage of the income from rentals when not in residence. This is an opportunity not to be missed! And don’t forget your pet, a privilege extended to owners only. Condo is cozy with wood-burning fireplace, private patio, granite counter tops, wood ceiling and stainless appliances. As an owner you may bring your pet with you! This unit is the least expensive condo in the complex! Now that’s smart shopping!” 2014 Taxes: $2,429; HOA Dues: $24,290 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/10/2016; Sold Date: 03/18/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #131673 – Wood Run, Snowmass Village, 90 Edgewood Lane, Snowmass Village, CO: Sold Price: $8,100,000/$1,772 sq ft; furnished. More details below photos.

MLS #131673 – Wood Run, Snowmass Village, 90 Edgewood Lane, Snowmass Village, CO: Sold Price: $8,100,000/$1,772 sq ft; furnished. Asking Price: $9,500,000. (Original Price: $10,995,000 and 900 days on the market since 09/20/2013.) This is a 1997 built, 4 bedroom/3 bath/1 half-bath, 4,570 sq ft single family home with 2 car garage on a 40,075 sq ft lot. Broker comments are “Enjoy the ease of skiing – Adam’s Avenue Ski trail is just out your door. A stunning home with a natural stone exterior, it is warm and inviting from the moment you enter this beautiful mountain estate. A perfect floor plan for quiet evenings with family and friends or entertaining larger parties. Extensive use of the windows brings in harmonious views of the ski slopes and surrounding scenery. The handsome master suite has its own fireplace, expansive ceilings and a large, glamorous, his and her bath and closets. Additionally, there are two guest suites, a bunk room and den for your family members or guests. Ski down to the Base Village and catch the gondola. At the end of the day, return home to enjoy a soak in the hot tub or sit in front of the fireplace.” 2015 Taxes: $21,411; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/20/2016; Sold Date: 03/14/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #137107 – Wood Run, Snowmass Village, 546 Edgewood Lane, Snowmass Village, CO: Sold Price: $4,675,000/$1,026 sq ft; furnished. More details below photos.

MLS #137107 – Wood Run, Snowmass Village, 546 Edgewood Lane, Snowmass Village, CO: Sold Price: $4,675,000/$1,026 sq ft; furnished. Asking Price: $5,250,000. (Original Price: $6,250,000 and 447 days on the market since 12/23/2014.) This is a 1979 built and 1989 remodeled, 5 bedroom/5 bath/1 half-bath, 4,556 sq ft single family home with 2 car garage on a 32,235 sq ft lot. Broker comments are “This SLOPESIDE HOME FRONTS ADAMS AVENUE SKI RUN! This is the REAL DEAL FOR SKI-IN, SKI-OUT ACCESS and VIEWS! Simply click ”PHOTOS” and see for yourself. This well maintained 5 bed,5 1/2 bath home is being offered fully furnished and accessorized. 4 stop elevator, 2 outdoor jacuzzis, Beautiful summer flower gardens. For the buyer who wants TRUE SKI ACCESS!!!” 2014 Taxes: $22,436; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/31/2015; Sold Date: 03/14/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #132975 – Top of Village, Snowmass Village, 855 Carriage Way Aspen Trails #109, Snowmass Village, CO: Sold Price: $1,417,375/$787 sq ft; furnished. More details below photos.

MLS #132975 – Top of Village, Snowmass Village, 855 Carriage Way Aspen Trails #109, Snowmass Village, CO: Sold Price: $1,417,375/$787 sq ft; furnished. Asking Price: $1,595,000. (Original Price: $1,795,000 and 759 days on the market since 02/17/2014.) This is a 1974 built and 2004 remodeled, 4 bedroom/3 bath/1 half-bath, 1,800 sq ft condo. Broker comments are “A very rarely available 4 bedroom at Top of the Village. Ski in/out right to the living room door. Walkway from street level right to the door. Remodeled throughout. Stone surround fireplace, granite kitchen and bathrooms, new paint. Great rental history! Super on site rental management.” 2015 Taxes: $3,661; HOA Dues: $15,181 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/26/2016; Sold Date: 03/18/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #141360 – Crestwood, Snowmass Village, 400 Wood Road 1203, Snowmass Village, CO: Sold Price: $397,000/$413 sq ft; furnished. More details below photos.

MLS #141360 – Crestwood, Snowmass Village, 400 Wood Road 1203, Snowmass Village, CO: Sold Price: $397,000/$413 sq ft; furnished. Asking Price: $400,000. (Original Price: $400,000 and 164 days on the market since 10/06/2015.) This is a 1970 built and 1985 remodeled, 2 bedroom/2 bath, 960 sq ft condo. Broker comments are “A corner condominium with vaulted ceilings located on the coveted Crestwood front row, directly adjacent to Fanny Glacier! Easy access to the Elk Camp Gondola, the Village Express six-pack and Base Village Plaza. The two-level floor plan is a favorite to allow for privacy between parents and kids or multiple adults on a ski trip. The corner location features additional windows and a large, wrap-around deck. Value priced for someone to update and create their own mountain get-a-way. Disclosure: By Crestwood Board directive, the association will require the removal of the current wood-burning fireplace and the installation of an approved gas-burning fireplace appliance by June 1, 2016. See listor for details.” 2015 Taxes: $1,725; HOA Dues: $14,636 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/21/2016; Sold Date: 03/18/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)

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Disclaimer: The statements made in The Estin Report and on Aspen broker 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 at970.309.6163or byemail.The Estin Report is copyrighted 2016 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Reporton Aspen Real Estate.”

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