December 2008

Rental Reductions

Rental Reductions

In lieu of the recent downturn in the real estate market, it comes as no surprise that the luxury rental market has also been effected.  In an article in today's Mountain Business Journal, Aspen rental agents claim they are reducing rates on average 20-30 percent.  Homes that went for $25,000-$30,000 per night last year are fetching a fraction of that this holiday season, and despite the price reductions, many luxury homes are sitting empty during this historically busy week in Aspen. 

In the past, top dollar renters were an easy find in Aspen, however, the new spin on the market has forced rental agents to work harder for their renters and exceed every expectation. 

Posted by rebecca on December 31, 2008 in
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Deal of the Week

Deal of the Week

Dancing Bear Ranch 

8500 Snowmass Creek Road 

Price: $11,926,281

Subdivision: Wildcat Ranch

Square Feet: 6,700

Acreage: 503

Characteristics: 5 Bedrooms, 5 baths

 

 

Posted by rebecca on December 30, 2008 in
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Highlands Pizza Company Opens at Aspen Highlands

Highlands Pizza Company Opens at Aspen Highlands

Featuring Aspen Brewery beer and virtually every style of pizza including Chicago deep-dish, New York-style thin crust, whole grain thin crust, and traditional pies, Highlands Pizza Company is now open for breakfast, lunch and dinner, offering sit-down dining and pizza by the slice.

 http://www.eataspen.com/fulllisting.php?row=62

 

 

Posted by gary on December 26, 2008 in
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Aspen's Real Estate Sale of the Week Ending December 16, 2008

Aspen's Real Estate Sale of the Week Ending December 16, 2008

$9,800,000 

Monarch Penthouse (405 South Monarch, Unit 302)

4 Bedrooms, 4 Baths

3,632 square feet

$2,700 price per square foot

Finished in 2008

Across from Wagner Park in downtown Aspen, the Monarch offers ski lockers, air conditioning, parking and owner pets are welcome.

 

 

 

Posted by gary on December 24, 2008 in
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Aspen Music Festival 2009 Winter Schedule

Aspen Music Festival 2009 Winter Schedule

One of the most popular summer attractions in Aspen can now be found in the winter.  Each winter the school features several key musicians at Harris Concert Hall.  The 2009 Artist Recital Series offers a gregorios lineup of top classical artists, including violin sensation Joshua Bell (Feb. 12), joined by pianist Jeremy Denk; Colorado Symphony Orchestra music director Jeffrey Kahane (Feb. 16) performing on the piano; flutist Marina Piccinini and piano virtuoso Andreas Haefliger (Feb. 25); and rising-star pianist Simone Dinnerstein (March 14) who returns after a triumphant and highly individual performance of Bach’s Goldberg Variation, here last summer.

For more information on the winter and summer concert schedule, please visit Aspen Music Festival's website: http://www.aspenmusicfestival.com/

Posted by rebecca on December 23, 2008 in
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Base Village Grand Opening...At Last!

Base Village Grand Opening...At Last!

The new Snowmass Base Village premiered to locals and visitors this week.  Junk and Liquid Sky were two businesses among many that welcomed patrons through their doors for the first time on Monday.  At least one more restaurant, Buchi, a Japanese tavern is slated to open in January.

The creation of the Snowmass Base Village has been the planning process for at least nine years.   Related WestPac, who is developing the new base village is experiencing challenges securing financing for the Little Nell Residences, however, they hope to open it December 2010, one year after the slated opening of the Snowmass Viceroy Resort.

Posted by rebecca on December 23, 2008 in
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New Listing: West End, Aspen, Colorado

New Listing: West End, Aspen, Colorado

Price includes plans for four bedroom contemporary house with detached guest house.  Great West End lot close to Music Tent, Aspen Meadows, and the Aspen Institute.  South facing, views and great sun exposure.  Existing structure is non-conforming condominiumized duplex, tear-down.  Offered in "as-is" condition.  See listor regarding leases.

For more information on this listing, please visit: http://www.garyfeldman.com/mls/details/108694

Posted by rebecca on December 22, 2008 in
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Overnight Parkers Beware!

Overnight Parkers Beware!

The city of Aspen has initiated it's Snow Tow program.  City officials warn locals and visitors not to park their car in the central core of Aspen between the hours of 3:00am-7:00am or they will be towed.  The city uses this time to remove excess snow from the streets. 

The first day of the program this year left at least twenty-five drivers wondering where their car was Thursday morning.  The fine for being towed is $135, and if towing victims wait too long to claim their car, the fine jumps to $270 plus $5 a day storage fee. 

 The areas effected by the Snow Tow program are marked by small signs posted under the parking sign. 

As an alternative, officials are encouraging people to park in the Rio Grande parking garage.

Posted by rebecca on December 19, 2008 in
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Aspen Appraisal Group Tells Realtors What They Already Know...It's A Buyer's Market

Aspen Appraisal Group Tells Realtors What They Already Know...It's A Buyer's Market

Randy Gold of Aspen Appraisal Group gave his state of the real estate economy speech at this month's Aspen Board of Realtors meeting.

"We are not going to know where the bottom was until we are well on the road to recovery" said Gold.  "In past recessions our market really suffered very little.  This time it is more broad-based."

Single family homes in Aspen are off about 36% through the first 11 months of 2008 compared to the same period last year.  Property listings have increased 24% for the same period.

The same scene is playing out in Snowmass Village where home sales are off 10% over last year while listings are up 33%.

"We are firmly in a buyer's market," Gold said. 

 

Posted by gary on December 18, 2008 in
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Aspenites Anticipate Another Record Snow Year

Aspenites Anticipate Another Record Snow Year

Here we go again.  It's deja-vu.  Just like last year, we experienced mild weather through Thanksgiving and are now in the midst of a series of major snow storms that have dumped heavy snows to the area.

According to the Aspen Skiing Company's records, it snowed 11 days between Thanksgiving and today last season and it has snowed 11 days during the same period this season.  63 inches s far this year at the top of Aspen Mountain compared to 72 inches during the same period a year ago.

The 30 inches of snow that has fallen between last Saturday and today has increased the Roaring Fork River Basin's snow-pack to 106% of average.  According to the National Resources Conservation Service, the federal agency that measures the snow-pack, an automated site at the 10,600 foot elevation east of Aspen measured a snow-pack 39% above average.  The Roaring Fork has one of the highest snow-packs among the river basins in Colorado.

Posted by gary on December 17, 2008 in
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