Aspen Peak - Niche Media - Aspen living at its peak
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broker round table from right: The exterior view of a home at 220 W. Hallam St., listed by Maureen Stapleton; the living room of Touchstone Ranch at Starwood, listed by Gary Feldman for $18.9 million. On the Rise with the real estate market recovering, consider the assessments of these experts when deciding if now is the right time to make an investment. by murat oztaskin Karen Toth, President, Aspen Board of Realtors Broker Associate CNE, Aspen Snowmass Sotheby's International Realty Myra O'Brien, Broker MCNE, Aspen Snowmass Sotheby's International Realty The lower-priced and smaller-sized single-family homes are making the Aspen market today. Core condos, duplexes, and townhomes are where I suggest investors focus their search—the deals are disappearing, if not [already] gone. However, given the land sales rush of last year, I expect an increase in the listing of larger newly constructed homes in the near future. 415 E. Hyman Ave., 970-429-3760, 970-379-9374; aspensnowmasssir.com Erik Berg, Owner/Broker, Portfolio Aspen Properties There's a need for brand-new product. People love all that comes with owning new. Buyers are seeking cleaner lines, modern or mountain modern architecture, and bringing the outside in with [oversized] windows and doors. In the downtown core, new penthouses are selling at record-breaking prices. 450 S. Galena St., 970925-8400, 970-379-6353; portfolioaspen.com The kitchen of this Capitol Creek Road residence, listed by Myra O'Brien for $3.495 million, features a wall of windows offering views of Mount Sopris and the Valley. Gary Feldman, Broker Associate, BJ Adams and Company Real Estate The Aspen market continues to recover with inventory decreasing and price per square foot rising. With two recent closings in excess of $40 million each, the luxury end of the market is showing signs of returning to the "Aspen normal." The condo market is also on a bull run. If you are contemplating an Aspen real estate purchase, my recommendation is to act now. 534 E. Hopkins Ave., 970-922-2111, 970-948-3737; garyfeldman.com Heather Sinclair, Broker, Coldwell Banker Mason Morse Real Estate Ownership in a private residence club is the ultimate Aspen experience. Fractional ownership offers buyers the opportunity to purchase a deeded interest in a two-, three-, or four-bedroom luxury residence, only steps away from the gondola. This form of home ownership has become increasingly popular with clientele who want to come for short periods of time, the majority of whom are international—who wouldn't want twice-daily housekeeping and valet services after a 15-hour flight? 415 E. Dean St., 970-920-3204, 970-948-8834; masonmorse.com Maureen Stapleton, Broker Associate, Aspen Snowmass Sotheby's International Realty New construction, special location, contemporary design, all-day sun, and views—when buying real estate in Aspen and Snowmass, consider yourself lucky if you end up with three of the five. It's hard to get it all when buying in Pitkin County. This summer we saw some amazing sales—$44 million for a 500-acre estate, multiple sales in the West End for more than $10 million, about 50 condos at the Viceroy in Aspen Core setting record sales prices per square foot. There are buyers looking, but every day it gets just that much harder to find the three out of five. 300 Puppy Smith, 970-429-6043, 970-948-9331; maureenstapleton.net AP photography Courtesy of MichaelBrands (Hallam; capitol creek); Gary Feldman (Touchstone) What is hot is our high-end market. In the last three years it has led the recovery. Now, builders are feeling less risk in building. Loans are more available for construction. As only 15 percent of our high-end market has been built since 2009, we will see an increase in newer homes available, which will likely sport the trends of warmer colors and refined, simple, open floor plans. 300 S. Spring St., 970-273-3070, 970-379-5252; aspensnowmasssir.com 192 aspenpeak-magazine.com 192_AP_HP_BrokerRT_WIN13_SPR_14.indd 192 10/30/13 5:03 PM