Real Estate Volume Down 41% as Market Looks for Equilibrium

By Curtis Wackerle
The month of June illustrates the staggering drop-off in Pitkin County’s real estate market.

In June 2006, the total dollar volume of real estate sales in Pitkin County was $374.5 million, the highest monthly local sales volume in the last five years and likely of all time. This June, however, sales were at $63 million, according to the latest figures from the Land Title Guarantee Company.

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Second homes: High living in Aspen, even without the snow

Aspen has been a boom town since it was founded in 1879, thanks to rich natural silver deposits.  The value of silver waned, but Aspen never did because locals found something even more valuable in the hills: snow.  The first ski lift arrived in 1939, and Aspen's second-home popularity - and cost - have soared ever since.  

Set Apart

An all-star design team, led by David Johnston of David Johnston Architects, came together to create this Aspen architectural beauty, dubbed "Riverfront Masterpiece."The result is a home that stands out from the rest on the market, worthy of being called "Best of the Best" for its stunning architecture.

Download the complete story and photos of the property.

Aspen Market Showing Signs of Life

By Troy Hooper, Aspen Daily News Staff Writer

Buyers are beginning to return to the Aspen real estate market, after giving it the cold shoulder during the final few recession-laden months of last year.

Nobody’s beating down anybody’s door, but brokers say they are showing more properties, writing more contracts and closing more deals than they were just a few months ago.

Saslove Realty Expands With New Hires

Joshua Saslove, founder and chief executive officer of Joshua & Co., an Aspen real estate company known for handling transactions for the discriminating real estate buyers and sellers, has announced that broker, Gary Feldman, has joined the firm as managing partner.

Ho-hum ... Two real estate sales eclipse $25 million in same week

PITKIN COUNTY — Last week's sale of the Elk Mountain Lodge wasn't the only real estate transaction in Pitkin County to hover in the $26 million range.

A Wildcat Ridge estate was acquired for $26 million, just undercutting the $26.5 million that the 17-bedroom, 28,000-square-foot Elk Mountain Lodge, near the ghost town of Ashcroft, fetched.

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Gary's Q&A in Aspen Peak Magazine

Gary Feldman

Years in the business: Since 1977. In Aspen since 1985.

Main area of focus: "Recently [it's] been on the race for Aspen's high-end residential properties on behalf of my buyers.  When my luxury buyers win the race, they often refer me to their friends.  In 2004, my most expensive sale was Meanwhile Ranch for $15,000,000; my least expensive was a building site for $275,000."

How Much Real Estate $1 Million Buys

Time was (and not so long ago), that seven figures could buy you something really special. A penthouse with amazing views. A stunning Hamptons home. A really, really great place in California. On the beach.

But in nearly every corner of the U.S., the days of million-dollar mansions are, sadly, over. Welcome to an era of million-dollar bungalows, garden apartments and two-bedroom condos (in need of renovation).

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