April 2009

Aspen West End Building Site Sells for $3,500,000

Aspen West End Building Site Sells for $3,500,000

A 7,500 square foot lot at the southeast corner of 4th and Bleeker sold this week for $3,500,000. Included in the price are plans for a 6,200 square foot custom home.

Given the current market conditions, this is a very strong price and sends a signal that prices are stabilizing. 

 

 

Posted by gary on April 30, 2009 in
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Aspen - The Most Expensive Zip-Code In The USA

Aspen - The Most Expensive Zip-Code In The USA

In an Forbes article by Matt Woolsey, Aspen rates as the most expensive zip-code in the USA.

The 81611 ZIP code--home to sprawling wood beam and stone ski lodges and on the south end of Aspen--is currently the most expensive neighborhood in the country, boasting a whopping $6.5 million median home sale price. Neighboring Snowmass Village(81615) and Snowmass (81654) aren't far behind: They landed at fourth and seventh place on our list of priciest ZIPs with median prices of $3.99 million and $3.7 million respectively.

 

How did Aspen grab the top stop?  Seasonality. Sales in other luxury markets like Atherton, Calif., (94027) or Beverly Hills (90210) slow in the winter, but in Aspen, the New Year rings in the high season for home sales. That means even in an off-year, Aspen is the nation's top performer. Nationwide, home prices are down, and most places are yet to hit their spring high season. At this time of year, Aspen benefits in national rankings because its highs are compared to other market's lows.

 Behind the List
Our numbers come from the Forbes Luxury Housing Index, which tracks the 500 most expensive ZIP codes in the U.S., using real estate statisticsprovided by Altos Research, a Mountain View, Calif.-based real estate derivatives research firm. Median prices represent a 90-day rolling average from April 20. ZIPs with inventory less than 10 homes were not considered
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Posted by gary on April 28, 2009 in
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Aspen Waterworks Closes

Aspen Waterworks Closes

Located at 516 E Hyman in downtown Aspen, Waterworks is one of 20 locations closing nationwide.

Posted by gary on April 27, 2009 in
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Patio Building on Hyman Avenue Under Contract

Patio Building on Hyman Avenue Under Contract

New Owners Plan To Sell Office Space To Local Businesses 

The Patio Building, home to Sandy's Office Supply and a variety of local businesses is being purchased by locals Greg and Jane Hills for an undisclosed amount.

The 12, 016 square foot building was converted into commercial condominiums years ago but the units were never offered to the tenants for purchase.

The option for scraping and replacing the building has never been considered by the Hills. "We try to bring back to life tired buildings in town," Greg Hills said. 

Posted by gary on April 27, 2009 in
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Aspen Airport Business Down From Same Period in 2008

Aspen Airport Business Down From Same Period in 2008

Enplanements in Aspen were down 9% through March compared to the first 3 months of 2008 while Denver International Airport  was down 5% and Eagle County Airport saw a 3% reduction.  Grand Junction experienced an 11% increase during the same period.

United Airlines Aspen enplanements were down 8.4%; Delta was down 39% due to schedule changes in and out of Aspen.  Newcomer Frontier started Aspen service in April, 2008.  In December, it counted 2,895 enplanements.  By March, the number had grown to 4,218.

 

Posted by gary on April 20, 2009 in
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Aspen's Real Estate Sales of the Week Ending April 13, 2009

Aspen's Real Estate Sales of the Week Ending April 13, 2009

144 Magnifico Road, Aspen

$9,500,000

5 Bedrooms/6 Baths

7,630 Square Feet

Original asking price $13,950,000

Located on a private cul-de-sac on Red Mountain.  Includes elevator, temperature controlled wine room.

River Park, Unit 1

$7,025,000

Residences at the Little Nell, Unit F400

$1,255,000

777 Ute at the Aspen Alps, Unit 2

$1,500,000

 

 

 

Posted by gary on April 20, 2009 in
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Aspen Skiing Company will not Lower Pass Prices to Compete with Other Colorado Resorts

Aspen Skiing Company will not Lower Pass Prices to Compete with Other Colorado Resorts

The Aspen Skiing Co said Thursday it will not be lowering season pass prices to compete with other Colorado ski resorts next year.  In wake of the economic struggles that faced the Colorado resorts this year, many resorts are either lowering their pass prices, or are not raising the prices from this season.  These resorts include, the Vail Resorts, Copper Mountain, and Winter Park.  Several of these resorts are offering discounted resort package passes that allow skiers to enjoy several resorts using a single, discounted ski pass.

 

Posted by rebecca on April 17, 2009 in
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Bear Sitings on the Rise in Pitkin County

Bear Sitings on the Rise in Pitkin County

Pitkin County residents need to be more bear aware as wildlife officials have confirmed that bears are coming out of hibernation and have been seen in Aspen's East End, some downtown alleys, Mountain Valley and Starwood. 

Pitkin County has strict codes on adhering to the county bear ordinance, which requires that dumpsters and trash cans be bear resistant and secured with some kind of lock.  Not doing so can incur a fine up to $1,000. 

Posted by rebecca on April 17, 2009 in
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Median Home Prices in Pitkin County on the Rise

Median Home Prices in Pitkin County on the Rise

Pitkin County home values are not only holding steady, but they are increasing in 2009.  A recent study done by Cyberhomes.com, an online real estate information portal showed an increase in meadian home values in Pitkin County of 9.72% in February ove r the same month last year.  Pitkin County placed fourth on the list of nearly 2000 counties across the country for the increase in home values.  

In addition, the report states that Pitkin County  has one of the lowest mortgage delinquency rates in the country.  The state rate is 4.8%, the country and the national delinquency rate is 7.2%, whereas Pitkin County's rate is about 1.8%.

Posted by rebecca on April 15, 2009 in
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More Proposed Steeps for Aspen Mountain

More Proposed Steeps for Aspen Mountain

Aspen Skiing Co. hopes to add some double black diamond ski terrain on Aspen Mountain for next ski season.  They want to add the terrain in the Dakine Bowl area, just to the skier's right of the existing Walsh's run.  The move would add skiing on about 2.2 acres of national forest and nearly one-half acre of private land. 

Posted by rebecca on April 15, 2009 in
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