February 2014

Snowmass Village Sale November 8, 2013

Snowmass Village Sale November 8, 2013

605 Horse Ranch Drive

Horse Ranch

Snowmass Village

$1,987,500

Four bedroom/four baths

3,248sf

Sold price per square foot $612

Asking price $2,295,000

87% of asking price

This beautifully furnished mountain contemporary home is located on one of few premiere lots offering commanding views of the world class Snowmass Ski Resort. Backing up to Horse Ranch Open Space, all day sun drenches the main living areas and expansive walk out decks and patio terraces. This striking home comes turn-key with incredibly comfortable living spaces and exquisite finishes including stone, wood, granite and stainless. Watch hot air balloons in the sky above and elk grazing in the adjacent open space. Minutes to world class skiing and Championship golf at the Snowmass Club. (per Aspen MLS)

Posted by GaryFeldman on February 10, 2014 in
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Significant Aspen Sale November 12, 2013

Significant Aspen Sale November 12, 2013

10 Ridge Place

Red Mountain

Aspen

$14,725,000

Five bedrooms/six full baths/2 partial baths

9,082sf

Sold price per square foot $1,621

Asking price $17,250,000

85% of asking price

Perfectly situated on 1.3 acres on the Ridge of Red Mountain, the architecture of this refined estate complements the intimate connection with the magnificent mountains. Direct views of Aspen Mountain & downtown Aspen, sweeping views of all of the mountain ranges from Independence Pass to Mt. Sopris, as well as surprising views of Hallam Lake & the Roaring Fork River. Custom designed by Robert Trown, with a dramatic great room, entertaining area w/sunken bar, 9 gas fireplaces, generous dining room, gourmet kitchen, spacious master suite w/two balconies, fully-equipped gym, massage room with steam & sauna, 3,000 bottle climate-controlled wine room, stone & reclaimed wood floors, Lutron lighting system, infinity edge pool w/waterfall, and lavish patios & decks. An exquisite property! (per  Aspen MLS)

Photo by Gary Feldman


Posted by GaryFeldman on February 10, 2014 in
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Aspen Sale November 1, 2013

Aspen Sale November 1, 2013

951 Red Mountain Road

Aspen

$5,050,000

Four bedrooms/three baths

3,574sf

Sold price per square foot $1,413

Asking price $5,295,000

95% of asking price

Almost an acre of flat useable land mid-way up Red Mountain. Approximately 10,146 Sq. Ft. available for redevelopment that includes 4000 Sq. Ft. below grade, 750 Sq. Ft. garage exemptions and 5,396 Sq. Ft. above grade. The current home built in 1976 has four bedrooms and is sited away from Red Mountain Road. Plenty of flat land for a pool and other amenities. ( per Aspen MLS)

Posted by GaryFeldman on February 10, 2014 in
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A Look Inside with Robyn Scott

A Look Inside with Robyn Scott

Robyn Scott Interiors, Ltd. is an award winning full-service boutique firm specializing in modern classic design. Robyn Scott and her design team focuses on design concept-to completion through ARTITEXTURE. Her approach has proven effective in luxury residential and hospitality projects throughout the United States and Mexico. ARTITEXTURE- A holistic approach to interiors where Texture, Art and Furnishings become an Expression of the Architecture.

Marketing Trends: Trend in Furnishings - A current trend that we are seeing are rugs handcrafted in India, that are made by sewing together hand-woven carpets to form a Starwood Remodelpatchwork pattern. You will find several variations on this trend in the market, everywhere from a lower price point product emulating a vintage look found at West Elm to a higher priced and higher quality authentic piece found at Isberian Rug Company in Aspen/Basalt, Colorado. While this rug style has an old world look, it looks great in a modern interior.


Trend in Fixed Finishes - A new trend in the market place is thin stone which are thin porcelain slabs that are a perfect material for cladding surfaces such as fireplace surrounds, countertops, and bathroom or mud room walls… This is a great alternative to real stone. It is durable, contemporary, allows for many innovative design solutions and easy to maintain. We look forward to specifying this in one of our upcoming residential projects.


To complement Robyn Scott's Design business and to fulfill the market needs, Robyn Scott and Bonnie Merritt have created an online interior design company called Room Workshop. Room Workshop is an online interior design experience that gives you professional interior design coaching, complete room designs, shopping lists and a detailed execution list.


Robyn Scott, Principal
701 East Valley Road, Suite 207
Basalt, CO 81621
Office (970) 927-5354
Mobile (970) 309-1164
Email rscott@rsidesigns.com
Website www.rsidesigns.com

Posted by User One on February 06, 2014 in
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Winter Wonderland

Winter Wonderland

After showing property in Old Snowmass on Saturday morning, I had to pull over to capture the Roaring Fork River after two days, and 28", of snow.

Posted by Brooke on February 03, 2014 in
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Aspen 2013, by the numbers

Aspen 2013, by the numbers

2013 was a transitional year for the upper Roaring Fork Valley real estate market — a year of stabilization and balance in some areas, and clear growth in others. We’re still finalizing our analyses (look for the comprehensive big picture in our 2013 ASPEN REPORT, out in February) — but here are some of our initial findings…

In a nutshell, there are now 9% fewer sellers and 6% more buyers, who are spending 5% less money in Aspen, Snowmass Village, and Basalt than they were a year ago. So how does that speak to the strength of the market?

“It puts upward pressure on prices,” says Michael Adams , of our company and senior number cruncher. More buyers than sellers makes prices rise over time, Michael explains, “and in general, rising prices are a positive market force.”  In fact, we found that the average price per square foot stabilized and turned upward in 2013. Rising 7.5%, it was the largest growth in prices since 2007.

In addition, discounts off of list prices have been the lowest since 2008, ranging between 5-9% in all three communities.  Key resort indicators also trended upward last year. In Aspen and Snowmass Village combined, the number of sales, dollar volume, and average price per square foot were all trending in the right direction. (Even though there was a slight dip in total dollar volume, it was focused in the luxury segment of the market, and it wasn’t enough to turn down the trendline, explains Michael.)

The biggest winners of 2013, in terms of transaction volume, dollar volume, and/or price per square foot were condominiums in Aspen’s core and in Snowmass Village, and somewhat surprisingly, Snowmass off-mountain homes (meaning not ski-accessible…ski-accessible homes in Snowmass Village actually fell in all these indicators, an anomaly that really doesn’t concern us, but requires more explanation than is the intention of this blog).

Even so, the 5% drop in spending that we mentioned should be clarified. Because of the huge prices involved, the luxury market — defined as over $7.5 million — can greatly skew statistics. For example, in 2013, a $44 million sale in the Snowmass area, if included with the other 26 home sales there, raises the average home sale price by $1.6 million!  This is one reason we’re reporting the luxury market separately, and it’s also one example of the danger of hastily gathered statistics. It’s what led Mark Twain to pen that there were “lies, damned lies, and statistics.”

Separating out the upper end of the market “reveals some healthy growth in the overall market,” says Michael. So while market indicators appear to be down for single-family homes in general last year, homes under $7.5 million actually showed 7% more sales, 12% drops in average discount, 9% fewer days on the market, and a 2% rise in price per square foot.

“It’s a better look at what the market is really doing,” says Michael.

To show how much the upper tier of the market can distort the picture, there were 389 sales under $7.5 million in Aspen last year (up 28%), for a total dollar volume of $673 million (up 9%). The over-$7.5 million segment included just 22 sales (down 27%), but a whopping $291 million in dollar volume (down $85 million, or 23%).  Note that those 22 sales accounted for nearly a third of the total home sales volume in 2013.

Gary Feldman, one of our company’s brokers who specializes in luxury properties, agrees that the high end of the market is its own animal.  ”The ultra-luxury market sets its own pace,” says Gary, who discussed this segment in more detail in one of our December posts. “When they feel it’s time to buy, they buy. They’re more market leaders than market lemmings.”

There were 14 home sales over $10 million in 2013, compared to 17 in 2012, says Gary, although “you have to put an asterisk on that.” While the luxury market was technically down in 2013, changes in the present tax code, anticipated in 2012, led to a flurry of high-dollar sales at the end of that year. “Without that, many more deals would have closed in 2013,” he noted.

According to Gary, 2013 was essentially a continuation of Aspen’s luxury market rebound, and the gap continues to narrow between what buyers in that range are willing to pay versus what sellers are willing to take.  ”When the gap is fairly small, then you have an active marketplace,” he says.  It’s a market worth watching. Although inventory is going down, there remain 67 properties for sale over $10 million, with 25 of those listed at $20 million or more.

[Source: http://theaspenskinny.com/2014/01/31/aspen2013-by-the-numbers-2/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheAspenSkinny+%28the+Aspen+skinny%29 - Photo by BJ Adams and Company]

Posted by Brooke on February 03, 2014 in
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