July 2010

Pitkin County Extends Building Permit Deadlines

Pitkin County Extends Building Permit Deadlines
The Pitkin County commissioners approved a one-time extension of building permits in the county until Aug. 31, 2011 for all building permits that have expired or will expire this year. The policy covers some 47 permits. The City of Aspen made a similar arrangement, extending permits until June 30, 2011.
Posted by gary on July 30, 2010 in
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Land Title's June, 2010 Summary of Pitkin County Property Sales

Land Title's June, 2010 Summary of Pitkin County Property Sales
Summary for the month of June
  • $115,390,224 – total dollar volume, an increase of 81% from June 2009 – and the second highest dollar volume month this year
  • 50 – total transactions, an increase of 6.4% from June 2009
  • Mid Year dollars total $573.8 million – up nearly 22% from the same time period in 2009
  • Mid Year transactions total 344 – increase of approximately 4% from same time period 2009
  • Aspen had 18 transactions ($82 million), Interval Units accounted 18 transactions ($14.8 million), Snowmass Village - 8 transactions ($14.5 million), Redstone - 2 transactions ($1.1 million), Carbondale -1 transaction ($1.9 million), Old Snowmass – 1 transaction ($650,000), Basalt – 1 transaction ($220,000), and Woody Creek – 1 ($4,470)
  • There was one sale in the month that listed a bank as the Grantor for $4 million.  This was in the Meadowood Subdivision in Aspen.  This represents approximately 3.5% of the dollar volume for the month.
  • YTD, there have been 4 bank sales in Pitkin County totaling $5.6 million, this represents for less than 1% of the gross dollar volume
  • The average single family home sold price through June is $4.4 million, a decrease of 10% from full year 2009
  • The median single family home sold price is $4.1 million, an increase of 30% from full year 2009
    • Please refer to page 4 of the PDF for additional detail by area and property type
  • Fractional dollar volume for the month of June totaled $14.8 million up 138% from last June
  • Fractional transactions totaled 18, an increase of 20% from June 2009
  • Through June, dollar volume totals $52.3 million, a decrease of 63% from mid-year 2009
  • Through June, transaction activity totals 89, a decrease of 45% from mid-year 2009
  • The fractional activity in June was heavily attributed to the Residences at Little Nell with a total of 9 transactions and $13 million, Hyatt Grand Aspen had 4 and $566,000, Ritz Carlton had 3 – totaling $397,000, and St. Regis had 2 totaling $685,000
Posted by gary on July 30, 2010 in
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Frontier and Delta Abandon Air Service To Aspen

Frontier and Delta Abandon Air Service To Aspen

Frontier Airlines confirmed Wednesday that it will discontinue its Denver-Aspen service on Sept. 30. When Republic Airways acquired Frontier last spring, it announced it would phase out the fleet of Bombardier Q400s that Frontier flew into regional markets. Coincidently, Delta confirmed it would not be back for the coming ski season, leaving Aspen to be served solely by United from Denver.

If you use the Aspen/Pitkin County Airport, make your ski season reservations quickly.  Remember that Eagle County Regional Airport is served by American, Continental, Delta, United, Mexicana and is only about 65 miles from Aspen.

Posted by gary on July 29, 2010 in
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Want To Buy Aspen's Sky Hotel?

Want To Buy Aspen's Sky Hotel?

The 90-room Sky Hotel in Aspen is for sale. Purchased in March 2001 for $14.1 million, the Pitkin County Assessor currently values the property at $30.5 million.  No price has been listed, instead the owner is calling for offers.

Posted by gary on July 27, 2010 in
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Olathe Sweet Corn Makes Annual Appearance

Olathe Sweet Corn Makes Annual Appearance

Aspen locals are anticipating the first harvest of Olathe Sweet Corn, grown in southwestern Colorado.  Know for its' unique "sweet" flavor, many restauranteurs have special recipes that include it.  If you see it on a menu, don't pass up the opportunity to try it.

Tuxedo Corn Co. began harvesting Olathe sweet corn over the weekend, and Tuxedo anticipates harvesting a record 28 million ears. Tuxedo planted an additional 200 acres of corn to meet the demands from The Kroger Co. Kroger employs Olathe Sweet Corn extensively in their summer advertising.

Photo by Gary Feldman

Posted by gary on July 26, 2010 in
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Significant Aspen Real Estate Closings - July 1 through July 14, 2010

Significant Aspen Real Estate Closings - July 1 through July 14, 2010

Mine Brown Placer 15047

Aspen

$13,014,000

Ridgerun III, Lot 46

Snowmass Village

$5,950,000

SOLD BY JOSHUA & CO.

Starwood 16, Lot R94

Aspen

$5,500,000

501 West Hallam

Aspen

$3,500,000

Silver King Place Condos, Lot 36B

Aspen

$2,600,000

Aspen West Condos, Unit 1

Aspen

$1,765,000

H/B Condos, Unit 1

Aspen

$1,384,000

Residences at the Little Nell, Unit F212

Aspen

$1,300,000

Residences at the Little Nell, Unit F303

Aspen

$1,250,000

Residences at the Little Nell, Unit F212

Aspen

$1,200,000

Photo by Gary Feldman

Posted by gary on July 19, 2010 in
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Skico Renews Discounts for 2010-2011 Ski Season

Skico Renews Discounts for 2010-2011 Ski Season
The Aspen Skiing Co. has announced that it will renew and expand some of the discount packages offered during the 2009-2010 season, including the Kids Stay, Ski Free and The Perfect Storm. The Skico reported a 4.3% increase in skier visits last season and hopes to increase again visits again in 2010-2011. Next season will be longer because Easter falls on April 24, later than usual.
Posted by gary on July 15, 2010 in
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Commissioners Approve Runway Extension

Commissioners Approve Runway Extension
The Pitkin County commissioners unanimously approved the 1,000-foot extension of the runway at Aspen/Pitkin County Airport. The runway will be extended 1,000 feet to the south.  Estimates that 15,016 more enplanements would be possible with the same number of flights because there would no longer be density altitude weight restrictions in place. The Federal Aviation Administration is expected to pick up 95% of the cost of the expansion.
Posted by gary on July 15, 2010 in
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