The Estin Report Aspen Snowmass Real Estate Weekly Market Update Closed (6) and Under Contract (10): Nov. 6 – 13, 2011

Tim Estin is an active Aspen real estate broker with Coldwell Banker Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly or semi-annually, annually and also special reports. For blog archives, scroll to bottom of this page and search by date or topic. Or search this site in SearchEstinAspen.com on the menu bar. If it’s about Aspen real estate, chances are there’s something about it here. Follow @EstinAspen on twitter for Aspen Snowmass real estate news, market updates, statistics, commentary and reports or subscribe to RSS feeds with the button on the left.

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

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Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Last Week’s Market Highlights – Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Under Contract / Pending (10):MLS #s 119006, 120514, 122030, 121838, 121840, 119776, 119050, 118477, 118787, 118417. This link is valid for 30 days until 12/13/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (6): MLS #’s 121184, 116678, 116625, 118477, 122611, 117046. This link is valid for 30 days until 12/13/2011.

Select Aspen Snowmass Sold Properties Last Week
MLS #116678 – Aspen, West Aspen single-family home, 501 W. Buttermilk Road, Aspen, CO: Sold Price: $6,000,000/$778 sq ft furnished. Newer 2008 home sells at -53% discount to original 2008 list price. More details below photos.

MLS #116678 – Aspen, West Aspen single-family home, 501 W. Buttermilk Road, Aspen, CO: Sold Price: $6,000,000/$778 sq ft furnished; Ask Price: $6,950,000. (Original Price: $12,750,000 and 1019 days on the market since 11/26/2008.) This is a 2008 built, 7 bedroom/7 bath/2 half bath, 7,707 sq ft West Buttermilk single-family home on 37 acres. Broker comments are, “Eclectic mountain home on 37 private acres in West Buttermilk with irrigation, landscaping, rolling hills, & wide open views. Features include 7 bedrooms, 7 full baths, 2 half baths, 7,707 square feet, finishes of marble, granite, & onyx, imported custom doors, hardwood floors, grand foyer with fireplace, large sunken living room with exposed beams & two-sided fireplace, gourmet kitchen with custom cabinetry, sitting area & fireplace, office/sitting area adjacent to the master suite, steam shower & spa tub in master bath, wine room, media room with wet bar, exercise area, 791 square foot three car garage, large patio with fire pit & built-in grill, and an exceptional caretaker apartment with separate entrance, 2 bedrooms, 2 baths, and a garage. Lot split potential and in process.” 2010 Taxes: $27,727. Under Contract Date: 10/17/2011; Sold Date: 11/07/2011. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #116625 – Aspen, West Aspen half duplex, 1134 Cemetery Lane #B, Aspen, CO: Sold Price: $3,550,000/$834 sq ft unfurnished. More details below photos.

MLS #116625 – Aspen, West Aspen half duplex, 1134 Cemetery Lane #B, Aspen, CO: Sold Price: $3,550,000/$834 sq ft unfurnished; Ask Price: $3,850,000. (Original Price: $4,290,000 and 528 days on the market since 05/29/2010.) This is a 2009 built, 5 bedroom/5 bath/1 half bath, 4,254 sq ft West Aspen half duplex with 2 car garage. Broker comments are, “Fantastic new half duplex. Lives like single family home. Custom high-end finishes throughout, too numerous to list. Outstanding unobstructed views of Independence Pass and Aspen Mountain. Contemporary and tasteful architectural designs. 2010 Taxes: $9,992; HOA Dues: TBD. Under Contract Date: 10/14/2011; Sold Date: 11/08/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #118477 – Aspen, Mclain Flats single family lot, TBD Mclain Flats Road, Aspen, CO: Sold Price: $2,000,000/$252,844 acre. More details below photo.

MLS #118477 – Aspen, Mclain Flats single family lot, TBD Mclain Flats Road, Aspen, CO: Sold Price: $2,000,000/$252,844 acre; Ask Price: 2,750,000. (Original Price: $2,750,000 and 396 days on the market since 10/07/2010.) This 7.91 acre single family lot is located in the prestigious White Horse Springs subdivision. Broker comments are, “Outstanding panoramic views from the most acreage currently available for sale on McLain Flats. Priced 60% to 75% less than the other two listed lots, this represents a great buying opportunity for an end user or developer. Included are architectural plans by Gretchen Greenwood for a 5,000 sq. ft. home. FAR permits home of up to 5,750 (or larger with TDRs) plus caretaker home and barn.” 2010 Taxes: $28,289. Under Contract Date: 10/18/2011; Sold Date: 11/07/2011. (Photos and broker comments courtesy of SDS Real Estate, Inc.)

MLS #122611 – Aspen, central core Aspen, Concept 600 condo, 600 E. Main #408, Aspen, CO: Sold Price: $1,160,000/$1,221 sq ft furnished. This sale is affirmation that ‘quality and newness’ sells. More details below photos.

MLS #122611 – Aspen, central core Aspen, Concept 600 condo, 600 E. Main #408, Aspen, CO: Sold Price: $1,160,000/$1,221 sq ft furnished; Ask Price: $1,299,000. (Original Price: $1,299,000 and 71 days on the market since 08/31/2011.) This is a 1972 built/2011 remodeled, 2 bedroom/2bath, 950 sq ft Concept 600 condo. Broker comments are, “This 2 bedroom, 2 bathroom core condo is for the discerning Buyer who expects the best. Its contemporary fresh flair exudes refined class without pretentiousness. Remodeled in 2011 with extraordinary attention to detail and space, a property of this caliber is a rare gem. Features include: views, garage parking, balcony, air conditioning with humidifier, hardwood floors, fantastic kitchen, gas fireplace, custom cabinetry, honed marble slab counters and backsplash, whirlpoool tub, 3 flat screen TVs, insulated doors, triple pane windows, soundproofed floors, walls and ceilings, amazing storage, reverse osmosis drinking water, solar shades, high end HER appliances, large capacity washer/dryer, Thermador french door refrigerator, Bosch dishwasher, 6 burner gas range. Beautifully appointed.” 2010 Taxes: $3,135; HOA Dues: $2,000 Qtr. Under Contract Date: 09/29/2011; Sold Date: 11/10/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl. Realty.)

MLS #117046 – Aspen, West Aspen single family home, 942 Juniper Hill Drive, Aspen, CO: Sold Price: $772,000/$254 sq ft furnished. More details below photos.

MLS #117046 – Aspen, West Aspen single family home, 942 Juniper Hill Drive, Aspen, CO: Sold Price: $772,000/$254 sq ft furnished; Ask Price: $1,175,000. (Original Price: $1,675,000 with 508 days on the market since 06/18/2010.This propertty sold at -54% off original ask price.) This is a 1975 built/1982 remodeled, 4 bedroom/4 bath, 3,031 sq ft Brush Creek Village single family home situated on 2.23 acres. Broker comments are, “Great family home overlooking the Continental Divide and Aspen Mountain. Private setting on 2.23 acres with huge south-facing deck. Home features open floor plan, exposed beams, expansive glass, high ceilings for a light and sunny living space. Big views of the valley only 0.8 of a mile from Highway 82.” 2010 Taxes: $5,502; HOA Dues: $250 Qtr. Under Contract Date: 09/08/2011; Sold Date: 11/08/2011. (Photos and broker comments courtesy of Chaffin Light Real Estate Aspen.)

Recent market articles and report:

“Sales of Colorado Mountain Resort Homes in July Lowest in Years”, 09/09/11 Business Section, Denver Post
“Mega-mansion Deals Spur Rebound in Aspen Market”, 07/17/11 Sunday Business, Grand Junction Sentinel
The Estin Report: 1st Half 2011 State of the Aspen Market (released 07/14/11)

Tim Estin welcomes your business, inquiries and comments. Email him or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s AspenRealEstateBlog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click subscribe button in the menu bar on left:

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