Luxury Real Estate

By Tim Estin mba, gri Broker Associate, Mason Morse Real Estate – Aspen

If you missed these, here are some recent Aspen real estate article links (archived in the Aspen Real Estate Archives Section of www.EstinAspen.com):

* Mar 10-16, 2010, Snowmass Sun, “Looking for Positives in Snowmass Real Estate”

* March 8, 2010 ADN: “Fractionals Down, Residential Real Estate Sales Up Slightly in Jan & Feb”

* March 4, 2010 ADN: “Aspen Survey Shows Rising Confidence in Local Real Estate & Business”

For Prospective Buyers: There is a common refrain in the market right now which goes something like this, “Sellers are facing the end of the season and looking at a big gap of non-activity during the off-season and continued uncertainty regarding the reality of a budding national and local economic recovery. It would seem these sellers would be a lot more motivated now to get a deal done than have to hang onto inventory (and carrying costs) through the off-season and face an uncertain summer.”

This is especially true in Snowmass where activity will come to an abrupt end when the ski mountain closes, and in all reality, won’t pick up again until next winter 2010/2011. Winter is the selling season in Snowmass Village: summer is very quiet.

There’s a feeling that once – or if ? – sellers make it through the spring without selling, they’ll feel stronger – they made it through the worst – and therefore perhaps more emboldened to hold to their prices this summer…” . Without meaning this to sound like ‘brokerspeak’, the suggestion is that the best time for a buyer to strike may be now. But…then again … there’s also sentiment saying that “prices could still go lower” but there does seem to be almost universal local concurrence that the big price hits have already been factored into the marketplace and that more price decreases may be incremental, not significant.

Here is this past week, March 7 – 14, 2010, Aspen and Snowmass Village real estate sales activity for all property types over $250,000 excluding fractionals. For other weekly period activity, see Tim Estin’s regular weekly blog posts on “Aspen Snowmass Real Estate Activity”.

Ø Closed (0): There were no closings this past week.

Ø Under Contract/Pending (6): MLS#’s 111639, 113338,109509, 114703, 111770, 104357, Link will expire in 30 days. Valid until4/13/2010. Breakdown: (2) Aspen single family homes – Red Mountain and West End, (1) Old Snowmass home, (1) Aspen condo, (1) Aspen Highlands condo and (1) Aspen/Cemetery Ln Duplex.

Disclaimer: The statements made in The Estin Report and on Tim Estin’s Aspen real estate blog represent the opinions of the author, not Mason Morse Real Estate, and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or at testin@masonmorse.com. The Estin Report is copyrighted 2010 and all rights reserved. Use is permitted subject to the following attribution:”The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri, www.EstinAspen.com”