As of this Wednesday, Cold Mountain Ranch in the Crystal River Valley was placed under conservation easement, allowing minimal development on the 610 acres. The Board of County Commissioners for Pitkin County approved the resolution, adding this parcel to the 30 million acres that is already protected in the state of Colorado according to the Colorado Ownership Management and Protection. The sale will be finalized in April 2009. (more…)
Address: 561 Meadowood Drive
Subdivision: Meadowood Subdivision, located off Castle Creek Road just past the round-a-bout. Meadowood has beautiful open space for walking and cross-country skiing, tennis courts, and lovely mountain views.
Listed Price: $6,950,000
Sales Price: $6,500,000
Total Square Feet: 9,400
Bedrooms/Baths: 6 bedrooms, 6 bathrooms, 2 half-baths
Additional Amenities: Newly constructed, luxurious mountain contemporary style home with radiant heat, elevator, air-conditioning, open floor plan, master on main level, beautiful kitchen, two-car garage.
Great news was received last night for the Base Village at Snowmass. The developer Related WestPac got its long-awaited final approval Monday night for a luxury condominium hotel that will be operated by the five-star Little Nell Hotel in Aspen. (more…)
As the downvalley community in the Roaring Fork Valley has grown, so has the demand for more educators and bigger schools. In an informal meeting held last week, Superintendant Haptonstall and Principal Suzanne Wheeler-Del Piccolo addressed some rising concerns of 50 parents, including the crowding in Basalt schools and lack of long-tenured educators. (more…)
Aspen/Pitkin County airport will be the choice for more visitors and locals flying in and out of Colorado’s mountain resort areas now that commercial air traffic at Eagle County Airport is scheduled to shut down from April 15th through August 31st, 2009. (more…)
Effective 3:00 pm Friday, January 31st, Joshua & Co. took ownership of Resortquest’s Coates, Reid and Waldron real estate operations in Aspen & Snowmass. Joshua & Co. immediately opened in the former offices of Coates, Reid and Waldron in Snowmass and will share those offices with ResortQuest. ResortQuest will retain and continue to operate its vacation rental division.
Joshua Saslove, founder and CEO of Joshua & Co., characterized the acquisition as a momentous move in the local real estate industry. This is the company’s fourth upper valley location as it currently operates two offices in downtown Aspen and one at Highlands.
According to the SnowMass Sun, Joshua Saslove said “The interesting part about Snowmass is it’s got a considerable amount of new product it’s able to bring on line.” With regard to the current state of the economy, he added “This will pass. When it does, without question, Snowmass will be one of the top ski resorts in the country. And the community is developing its own vitality as well.”
Joshua & Co. was founded by Joshua Saslove in 1992 and specializes in Luxury Real Estate sales, Exclusive Rentals, Ranch Properties and Estate Management and Concierge Services for a discerning clientele. Joshua & Co. is the exclusive Christie’s Great Estates affiliate in Aspen/Snowmass, CO.
Land Title Guarantee Company released this week their report on the 2008 real estate market for Aspen and Pitkin County. Many were expecting bad news for the Aspen real estate market, so it wasn’t a surprise that some of the figures for 2008 were the lowest since 2003.
The sales volume for all of Pitkin County was $1.37 billion, a 46% drop from last year. Keep in mind that 2006 was a record high year for Pitkin County with a sales volume of $2.6 billion, and 2007 was just slightly lower at $2.5 billion. The sales volume for 2008 was at the same level as both 2003 and 2004 which were $1.1 billion and $1.6 billion, respectively.
The silver lining for 2008 was the median sales price for single family homes. Pitkin County’s single family median home price was $5.1 million, up 10% from 2007. Single family home prices went up 4% in Aspen and 7% in Snowmass Village, and Basalt real estate showed a16% increase for single family home sales in 2008.
From this report, we can confirm that real estate in Aspen, just like the rest of the world, will go up and down in sales prices and volume. Yet, the first rule in real estate–location, location, location–will always apply, making Aspen luxury real estate always in demand.
During 2008 there were 697 properties listed on the active real estate market in the Aspen area, a dramatic increase from 97 in 2007*. With so many more properties to choose from, property owners are finding ways to differentiate their property and hopefully get a better return because of it. An easy way to increase the value of a property is to remodel–making living spaces larger or updating a kitchen can make a huge difference in the selling price of a home. (more…)
