The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (8) and Under Contract / Pending (8): Nov 11 – 18, 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 to search by topic, address, date etc. If it’s about Aspen real estate, it should be here.

The Estin Report: Q3 2012 State of the Aspen Real Estate Market released Monday 10/22/12.

Click image for full report

The Estin Report: October 2012 Market Snapshot Aspen Snowmass Real Estate

released Nov. 7, 2012 v4.2

Click image for Oct. 2012 snapshot summary and pdf

Last Week’s Market Activity – 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 most closed properties (with excellent photography) are posted to preserve an archive of sold market activity. For sales in the past month, scroll down page, and for earlier dates use the down arrow and search by time period or use SearchEstinAspen.

Three (3) more vacant lots sold last week. From Jan 1 – Nov. 18, 2012, there have been 28 vacant lot closings, and an additional (7) lots are currently under contract, compared to (21) sold during the same period last year. Vacant lot sales are up +33% over last year.

See comments on 10/22/12 from The Estin Report: 3rd Quarter 2012 State of the Aspen Market “Vacant Land Sales Surging: There has been a dramatic increase in vacant land sales this year and it continues. Through the 3rd Quarter, Sept 30, 2012, there have been 23 land sales this year versus 12 last year same period, +92%. The dollar value of these sales has jumped to $65M this year from $27M, +144%. This does not include the sale of older teardown properties which appear in the MLS as residential property with improvements not vacant land. Buying land and building new offers a reasonable hedge against continued market uncertainty and against the slow pace of an improving marketplace. As there is relatively little new construction occurring at present due to uncertain macro conditions and still difficult but improving loan qualification conditions, by the time one completes construction of a new Aspen home in 18—24 months, demand for this scarce product should be high, supply low and premium pricing a realistic outlook…”

Under Contract / Pending (8): MLS #:126218, 124037, 125060, 126211, 126461, 125721, 117718, 126986/126996. This link is valid for 30 days until 12/18/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (6): MLS #: 126749, 122089, 123588, 126194, 113702, 127100. This link is valid for 30 days until 12/18/2012.

Aspen Snowmass Solds Last Week:

MLS #122089 – Aspen, East Aspen, Aspen Grove single family lot, 287 Mcskimming Road, Aspen, CO: Sold Price: $2,800,000. More details below photos.

MLS #122089 – Aspen, East Aspen, Aspen Grove single family lot, 287 Mcskimming Road, Aspen, CO: Sold Price: $2,800,000; Asking Price: $3,495,000. (Original Price: $14,950,000 [$6.5M for the land and $8.45M for pre-construction new-built home] and 1,280 days on the market since 08/17/2007). This is a 0.81 acre single family lot located in Aspen Grove subdivision. Broker comments are, “.81 acre lot with views of Aspen & Ajax. Preliminary schematic plans for a 10,505 square foot home plus a 607 square foot garage by architect Stan Mathis are included. An exceptional opportunity to build your own custom home, or save 12-18 months of design, planning & approval time by selecting the impeccable design already permitted. Just 1 mile east of downtown, Aspen Grove offers a fabulous alternative to the roundabout & defines the peaceful & quiet surroundings of the east side of Aspen.” 2011 Taxes: $23,234; City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/17/2012; Sold Date: 11/16/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #126194 – Aspen, West Aspen, Stage Road PUD single family lot, 373 Relay Road, Aspen, CO: Sold Price: $2,350,000. More details below photos.

MLS #126194 – Aspen, West Aspen, Stage Road PUD single family lot, 373 Relay Road, Aspen, CO: Sold Price: $2,350,000; Asking Price: $3,260,000. (Original Price: $4,500,000 and 2,269 days on the market since 01/29/2007.) This is a 2.47 acre single family lot in the Stage Road subdvision in West Aspen. Broker comments are, “Pristine & private 2.47 acre building site in West Aspen, with spectacular mountain & river views. Build up to 7,500 square feet above grade plus a 1,000 square foot ADU, or purchase a TDR and built up to 11,000 square feet above grade with unlimited below grade space. FAR rights are vested for 18 years. Enjoy an outdoor lifestyle on the 17 acre nature reserve with private fishing on the Roaring Fork River and room for the horses. Plans have been prepared by award winning Charles Cunniffe Architects for a 20,000 square foot home. Just minutes to the ski slopes and downtown Aspen.” 2011 Taxes: $0.96; HOA Dues: $1,551 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/30/2012; Sold Date: 11/16/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #113702 – Aspen, McLain Flats, Starwood single family lot, Lot 55 S. Starwood Drive, Aspen, CO: Sold Price: $1,925,000. More details below photos.

MLS #113702 – Aspen, McLain Flats, Starwood single family lot, Lot 55 S. Starwood Drive, Aspen, CO: Sold Price: $1,925,000; Asking Price: $1,975,000. (Original Price: $3,750,000 and 1,195 days on the market since 11/03/2006.) This is a 4.37 acre single family lot in Starwood subdivision in McLain Flats. Broker comments are, “4.37 pristine, private wooded building site at the end of South Starwood Drive in Aspen’s only gated community. Expansive mountain vistas includes Aspen Highlands, Snowmass Mountain, Mt. Daily, Capital Peak, and Mt. Sopris. Follow path to partially cleared activity envelope w/ viewing platform. Site study by Rich Carr of CCY Architects on file. Guest house allowed. Owner Financing possible. HOA information available www.starwood.org.” 2011 Taxes: $32,459; HOA Dues: $1,202 Yr. Under Contract Date: 08/31/2012; Sold Date: 11/18/2012. (Photos and broker comments courtesy of Peak Properties of Aspen.)

MLS #127100 – Snowmass Village, Woodbridge condo, 35 Upper Woodbridge Road, 6ab, Snowmass Village, CO: Sold Price: $350,000/$382 sq ft furnished. More details below photos.

MLS #127100 – Snowmass Village, Woodbridge condo, 35 Upper Woodbridge Road, 6ab, Snowmass Village, CO: Sold Price: $350,000/$382 sq ft furnished; Asking Price: $390,000. (Original Price: $390,000 and 70 days on the market since 09/06/2012.) This is a 1973 built/2009 remodeled, 2 bedroom/2 bath, 916 sq ft condo. Broker comments are, “Wonderful two-bedroom Woodbridge condominium with beautiful finishes and easy access to everything of Snowmass. This unit is located on the lower part of the complex with easy access to the parking area and town shuttle, with minimal stairs to climb. Rated deluxe with flat-screen TVs, gas fireplace and remodeled bathroom with heated floors. Ready for rental guests and full-time residents alike, the unit boasts leather sleeper sofa and loveseat, full dining table with plenty of seating, and plenty of beds for everyone. The living room and patio offers a great view towards the ski area in the winter and a private feeling in the summer with the mature landscaping. Woodbridge Condominiums underwent a recent exterior remodel, including new stairways, timber entrances and stacked stone chimneys to add to the mountain ambience. The pool and Jacuzzi are just across the common area from this unit, along with the laundry facilities. Property management company visits the complex on a daily basis, too.” 2011 Taxes: $1,189; HOA Dues: $2,100 Qtr. Under Contrct Date: 09/15/2012; Sold Date: $11/14/2012. (Photos and broker comments courtesy of Joshua & Co.)

MLS #126749 – Snowmass Village, Timberline condo, 690 Carriage Way, Unit 303, Snowmass Village, CO: Sold Price: $300,000/$515 sq ft furnished. More details below photos.

MLS #126749 – Snowmass Village, Timberline condo, 690 Carriage Way, Unit 303, Snowmass Village, CO: Sold Price: $300,000/$515 sq ft furnished; Asking Price: $325,000. (Original Price: $425,000 and 465 days on the market since 06/02/2011.) This is a 1972 built/1998, 1 bedroom/1 bath, 582 saq ft condo. Broker comments are, “Top floor studio with a large sleeping loft, which functions as a one bedroom. Sleeps 6 comfortably. Located directly on the ski slope with excellent ‘high amenity’ management. Nice down valley views, morning and evening sun. A rarely available, Timberline Lodge condominium.” 2011 Taxes: $1,201; HOA Dues: $563 Mo. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/26/2012; Sold Date: 11/16/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123588 – Bank Owned Sale: Old Snowmass, Gateway To Snowmass single family home, 459 Gateway Road, Snowmass, CO: Sold Price: $360,000/$141 sq ft unfurnished. More details below photos.

MLS #123588 – Bank Owned Sale: Old Snowmass, Gateway To Snowmass single family home, 459 Gateway Road, Snowmass, CO: Sold Price: $360,000/$141 sq ft unfurnished; Asking Price: $374,900. (Original Price: $592,020 and 342 days on the market since 12/09/2011.) This is a 1978 built/2006 remodeled, 4 bedroom/3 bath, 2,548 sq ft single family home on 1.12 acres. Broker comments are, “Single family home located in Old Snowmass, bright and open floor plan with vaulted ceilings. Wood flooring, gourmet kitchen, and beautiful patio with great views. Some structural issues, sold ”as-is”. Contact agent for info. Seller requests potential buyers to contact Chase Loan Officer, Jeremiah Glass at 303.444.2073 or jeremiah.l.glass@chase.com. Water is billed quarterly based on usage. Property is sold ”As Is” including any existing appliances, plumbing, heating and air conditioning and electrical systems.” 2011 Taxes: $4,603. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/02/2012; Sold Date: 11/14/2012. (Photos and broker comments courtesy of McKinley Sales R.E. Group.)

Tim Estin welcomes your business, inquiries and comments. Email: tim@estinaspen.com 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 one of the different subscription options in banner at the top of page:

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Aspen Snowmass Real Estate Weekly Market Update Report Closed and Under Contract