The 289-acre property that has been known by several names over the last decade, including Sanders Ranch, Bair Chase, Cattle Creek Crossing and Cattle Creek Colorado, has a new owner and name as of last week. The property is now called “Riverbend” and was purchased by Carbondale Investments LLC, for $15 million from the Garfield County Public Trustee. (more…)
As a gesture of goodwill to the community and its constituents, Aspen Valley Hospital decided in its latest meeting to give Pitkin County taxpayers a credit in their 2009 property taxes. Due to the extreme increase in property values that occurred in the 2006-2008 period, the hospital district was slated to collect an additional property tax revenue ($1.2 million more than taxes collected in 2008). The hospital will adjust its levy to receive $3.5 million in property tax revenue, the same amount it received in 2008.
Every two years, counties in Colorado review the local real estate market and assess property values accordingly. In Pitkin County, property values saw a 34 percent increase on average from 2006 to 2008. Colorado statutes allow districts to use a temporary tax credit to lower their mill levies for one year, then have them return to the prior level the following year. Other taxing districts are expected to take a close look at their mill levies this fall to see if their increased revenue is necessary.
Several board members noted Aspen Valley Hospital has stayed fiscally healthy this year, even allowing for raises for its employees. Unfortunately, Pitkin County residents haven’t done so well-many in the community have lost their jobs or have seen their wages reduced.“It doesn’t seem fair to tax them more while we are doing well,” board member Dr. Barry Mink said. “It’s the prudent thing to do,” agreed board member Chuck Frias.
When buyers purchase a property in Aspen, most hope to 1) enjoy the area, 2) receive rental income and/or 3) sell it for a profit at a later date. If buyers anticipate performing a 1031 tax-deferred exchange when selling the property at a future date, the usage of the property should be considered. (more…)
The Aspen Business Center is getting a new grocery store. For almost two decades, the Alpine Mountain Market was the only grocery store in the Aspen Valley on the other side of the roundabout. Now, Roxy’s will take its place in providing all assortments of food, including a full deli counter.
The owners of Roxy’s wants the store to be something for everyone. It will have the basic grocery items, as well as specialty items and organic products. The store is being extensively remodeled to facilitate the new feel for the local grocery store. The new store’s owners and operators, Roxanne and Mike Lawler, also own groceries in Telluride and Rangley.
Starting a new business is always difficult, but Roxanne Lawler isn’t too concerned. “People still eat,” she said. “When people stop eating, that’s when we’re in big trouble.” The Lawlers are also banking on the ABC location, which serves as a convenient spot for residents who live off Highway 82 just outside of Aspen, and don’t want to come into town and deal with traffic and a lack of parking.
Mike Kaplan, the CEO of Aspen Skiing Company, met with Snowmass Village Town Council for their biannual meeting. On-mountain plans, skier visits and other updates were on the agenda, but the largest item of business is the future of Base Village, the partially built one million-square-foot development. (more…)
44 Magnifico sold this past week after being on the market since December 2008. David Easton & David Johnston combined their architectural design expertise to create this custom mountain country estate on a private cul-de-sac on Red Mountain. Originally listed for $15.5 million, this home sold for $9.5 million.
Anomalies are expected in locations as unique as Aspen and the Roaring Fork Valley. For example, the median price of homes in Pitkin County has actually increased unlike most counties nationwide. That’s according to Cyberhomes, an online real estate information portal. Cyberhomes showed that median home values in Pitkin County increased 9.72% in February over the same month last year, equating to a median price of $1,052,122.
Pitkin County wasn’t alone in a county that saw its median price increase, nor did it show the largest increase. There were 24 counties across the nation where home values were holding steady or actually rising from a year ago. Pitkin County came out at fourth with Morgan County, Tenn.; Rock Island, Ill.; and St. Louis, Mo taking first, second and third.
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.
