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 10, March 6 – 13, 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 (8):MLS#’s:141342, 141634, 134833, 136702, 142974, 142973, 134961, 142436.This link is valid until 4/12/2016.

Under Contract/Pending (8):MLS#’s:141924, 142088, 140973, 131673, 142387, 139635, 142477, 142724. This link is valid until 4/12/2016.

Aspen Snowmass Solds Last Week:

MLS #141342 – Red Mountain Ranch, Red Mountain, 649 Hunter Creek Road, Aspen, CO: Sold Price: $9,365,455/$1,039 sq ft; furnished. More details below photos.

MLS #141342 – Red Mountain Ranch, Red Mountain, 649 Hunter Creek Road, Aspen, CO: Sold Price: $9,365,455/$1,039 sq ft; furnished. Asking Price: $13,995,000. (Original Price: $16,000,000 and 147 days on the market since 10/13/2015.)

RED MOUNTAIN SCREAMING DEAL = 649 Hunter Creek Road at $9.36M/$1,039 sq ft for a beautiful quality 2002 built 9,000 sq ft home on a 39,000 sq ft lot high atop Aspen’s spectacular Red Mountain. For comparison, a dated 1986 nearby 4,496 sq ft home at 209 Hunter Rd (MLS 140037) on a 31,000 sq ft lot closed in Sept 2015 at $9.7M/$2,157 sq ft !! 649 Hunter Cr sold near lot value…the house came basically free. Possible reasons: The home had a very distinct and unique euro-style which made it a difficult sell and the layout was chopped up creating a sense of two separate “halves” of the house. This sale at a steep 33% discount to ask price, a good buy for Red Mountain, reflects these handicaps.

DESCRIPTION: This is a 2002 built, 5 bedroom/5 bath/2 half-bath, 9,013 sq ft single family home with 2 car garage on a 38,642 sq ft lot. The broker’s comments are “This Red Mountain home provides the perfect combination of mountain privacy and proximity to downtown Aspen. Listen to the serenity of Hunter Creek while you take in the picture perfect mountain views from the wrap around terrace in the summer or from the warmth of the fireplace in the winter. This elegantly timeless home features unparalleled craftsmanship and custom finishes inclusive of 16th century limestone fireplace surrounds, reclaimed beams, copper clad doors & windows. Generous gathering spaces adjoining the kitchen provide an atmosphere of warmth while entertaining. The master suite off of the main living level encompasses views of Aspen Mtn perched over Hunter Creek. Four private guest suites, fitness/yoga room and recreation area are on the walk-out middle level with breath-taking views. A Sherlock Holmes-worthy library with a full wet bar and voluminous wine room on the lowest level does not disappoint. This house and these views are a must see!” 2015 Taxes: $26,871; HOA Dues: $4,931 per Yr. Under Contract Date: 02/24/2016; Sold Date: 03/08/2016. (Photos and broker comments courtesy of Shane Aspen Real Estate)

MLS #141634 – Meadowood, West Aspen, 293 Heather Lane, Aspen, CO: Sold Price: $5,500,000/$1,238 sq ft; unfurnished. More details below photos.

MLS #141634 – Meadowood, West Aspen, 293 Heather Lane, Aspen, CO: Sold Price: $5,500,000/$1,238 sq ft; unfurnished. Asking Price: $5,750,000. (Original Price: $5,750,000 and 121 days on the market since 11/11/2015.) This is a 2006 built, 3 bedroom/3 bath/2 half-bath, 4,441 sq ft single family home with 2 car garage on a 38,677 sq ft lot. This is a very very nice home with great sense of privacy…if only there was a 4th bedroom many remarked. Broker comments are “Classic Colorado-style home designed by Poss & Associates that features the warm, comfortable finishes of reclaimed wood floors, wood trusses, Colorado buff sandstone and saturated with natural light. 800 square feet of additional FAR for expansion. Located on a cul-de-sac at the end of Heather Lane, this site offers privacy, expansive views from Aspen Mountain to Tiehack with the view of Thunderbowl front and center. South-facing terraces with covered outdoor dining, hot tub and access to the cross-country ski trails, the tennis courts and pond and the Aspen School District campus.” 2014 Taxes: $17,807; HOA Dues: $646 per Yr. Under Contract Date: 01/13/2016; Sold Date: 03/11/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #134833 – Gant, Central Core, 610 S West End Street B-201, Aspen, CO: Sold Price: $1,875,000/$1,464 sq ft; furnished. More details below photos.

MLS #134833 – Gant, Central Core, 610 S West End Street B-201, Aspen, CO: Sold Price: $1,875,000/$1,464 sq ft; furnished. Asking Price: $1,999,500. (Original Price: $2,100,000 and 612 days on the market since 06/18/2014.) This is a 1972 built and remodeled in 2010, 3 bedroom/3 bath, 1,280 sq ft condo. Broker comments are “Finally…A 3-bedroom, 3-bath Deluxe rated condo at The Gant. Sold furnished and beautifully remodeled in 2010. Excellent rental history and conveniently situated near the shuttle and pool. This is without doubt the best resort property in Aspen with 2 pools, tennis courts, gym, sauna and hot tubs. The brand new convention center and restaurant are superb and drawing rave reviews. Onsite management, plus convenient shuttle service to town and the airport make this condo extremely attractive to out-of-state and international buyers.” 2015 Taxes: $4,281; HOA Dues: $2,534 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/25/2016; Sold Date: 03/09/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)

MLS #136702 – Midland, Central Core, 601 S West End Street 13, Aspen, CO: Sold Price: $450,000/$1,187 sq ft; unfurnished. More details below photos.

MLS #136702 – Midland, Central Core, 601 S West End Street 13, Aspen, CO: Sold Price: $450,000/$1,187 sq ft; unfurnished. Asking Price: $485,000. (Original Price: $525,000 and 2,365 days on the market since 08/29/2007.) This is a 1969 built and 2013 remodeled, 1 bedroom/1 bath sub-grade 379 sq ft condo. No windows, only enclosed skylights allowing for indirect light. Broker comments are “Perfect one bedroom condo located in quiet complex, minutes from the Gondola. Recently remodeled in 2013 with all new appliances, including Frigidaire Fridge/Freezer, Samsung Microwave, and GE Stovetop! Great income opportunity or ideal location for one person! Parking pass for one vehicle, washer and dryer in unit, low HOA dues!” 2015 Taxes: $1,252; HOA Dues: $242 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/09/2016; Sold Date: 03/10/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

No photo available for this Single Family Residence in Woody Creek.

MLS #142974 – Woody Creek, 104 River Rock Lane, Woody Creek, CO: Sold Price: $1,850,000/$754 sq ft. Asking Price: $1,850,000. (Original Price: $1,850,000 and 126 days on the market since 10/08/2015.) This is a 1954 built and 1981 remodeled, 3 bedroom/3 bath, 2,451 sq ft single family residence with 1 car garage on a 38,768 sq ft lot. No broker comment. 2016 Taxes: $2,956. Under Contract Date: 10/08/2015; Sold Date: 02/11/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

No photo available for this Single Family Residence in Woody Creek.

MLS #142973 – Woody Creek, 616 Allen Way, Woody Creek, CO: Sold Price: $1,150,000/$993 sq ft. Asking Price: $1,150,000. (Original Price: $1,150,000 and 89 days on the market since 11/25/2015.) This is a 1948 built and 1970 remodeled, 2 bedroom/1 bath, 1,158 sq ft single family residence with 2 car garage on a 87,120 sq ft lot. No broker comment. 2016 Taxes: $2,229. Under Contract Date: 12/04/2015; Sold Date: 02/22/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #134961 – Crestwood, Snowmass Village, 400 Wood Road 1219, Snowmass Village, CO: Sold Price: $400,000/$444 sq ft; furnished. More details below photos.

MLS #134961 – Crestwood, Snowmass Village, 400 Wood Road 1219, Snowmass Village, CO: Sold Price: $400,000/$444 sq ft; furnished. Asking Price: $439,000. (Original Price: $579,000 and 626 days on the market since 06/20/2014.) This is a 1970 built and 2004 remodeled, 2 bedroom/2 bath, 900 sq ft condo. Broker comments are “A fantastic two bedroom, two bath ski in/ski out property in Snowmass Village. This remodeled condo includes a spacious balcony, gas fireplace, granite countertops, and pine cabinetry. With its newly renovated exterior, the Crestwood offers luxury amenities including and outdoor heated pool, therapy pools and fitness center. Perfectly located on Wood Rd. with easy ski access to the Elk Camp gondola and the Village Express lift.” 2013 Taxes: $2,373; HOA Dues: $18,797 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/16/2016; Sold Date: 03/07/2016. (Photos and broker comments courtesy of Whitman Fine Properties)

MLS #142436 – Lichenhearth, Snowmass Village, 150 Carriage Way #4, Snowmass Village, CO: Sold Price: $280,000/$422 sq ft; partial-furnished. More details below photos.

MLS #142436 – Lichenhearth, Snowmass Village, 150 Carriage Way #4, Snowmass Village, CO: Sold Price: $280,000/$422 sq ft; partial-furnished. Asking Price: $300,000. (Original Price: $300,000 and 47 days on the market since 01/23/2016.) This is a 1968 built, 1 bath, 662 sq ft condo. Broker comments are “Own at one of the best locations in Snowmass! Lichenhearth #4 is a cute studio that has a privacy screen to make it a 1 bedroom. The sliding back door opens up to the common grassy area that you can also ski into, or walk 100 feet to the year-round pool area! This unit has the only gas fireplace in the complex. Lichenhearth complex went through a major remodel to add elevators, new common space and updated corridors. Within walking distance to Base Village, you can hop on the free shuttles or each unit has its assigned, covered parking to leave a car.” 2015 Taxes: $1,105; HOA Dues: $1,955 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/29/2016; Sold Date: 03/10/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

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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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