Posted on August 4, 2016 by Chris Klug
After a slow first half of 2016 our town is full and buyers are looking. There's no better place to be this time of the year than Aspen Snowmass. Real estate activity really increased in July; I put almost fifteen million under contract the past weeks. There were a number of macro economic factors that sidelined buyers through the first two quarters of 2016 including: the strength of the Dollar, fluctuating equities markets, the price of oil, and an election year. On the heels of a great 2015, buyers were on edge; you could find reasons not to purchase a new home the first half of 2016. I had a great conversation Tuesday morning with my co-workers. We discussed why now is a great time to purchase a home in Aspen Snowmass. Here are the Top Ten Reasons it makes sense today:
Top Ten Reasons Now is the Time to Buy in Aspen Snowmass:
- Quality of life. There is no better!
- Recreational opportunities abound including endless uncrowded single-track.
- Great property choices with increased inventory. Increased selection, encourages offers.
- Use it now. Don't postpone memories and chapters!
- Safe harbor. Shelter. Not volatile. Preservation of wealth. Preserver of individual wealth and ability to use and enjoy opposed to stock or treasury certificate. Historically appreciation strong in Aspen.
- Interest rates all time low.
- Opportunity cost - yield is so low for safe income instrument such as bond or CD.
- August is a great time to make offers with off-season approaching.
- Security! Colorado first choice, easy to get to, safe, secure, and beautiful winter and summer.
- Looking long term - buying this for your family for a long time.
I anticipate a very busy August and September ahead. Call or email me today to learn more about the best values and properties in Aspen Snowmass today and get your memories started.
Posted on July 21, 2016 by Chris Klug
Aspen is an adventurous place with incredible surroundings and an active community. Our alpine community is chock-full of wilderness, world class hiking, and biking. However, every so often you need some motivation for that last trek up the mountain or push up the hill. If conveniently placed, local taverns and restaurants can be the perfect source of that motivation. Here are a few hideaways to help you earn that greasy burger and ice-cold brew.
Hike to the top of Aspen Mountain. Take switchbacks or the steep face up to find incredible views, giant chess, frisbee golf, ping-pong, and the famous Sundeck. Feed camp robber birds french fries from your hand, while surrounded by a beautiful mountainous view. It is a somewhat challenging hike that can take up to 3 hours, but the spectacular views, games, cold drinks, music and good food make it worthwhile. Don't miss live music on the weekends.
For the cyclists, there is a simple ride to the Woody Creek Tavern. A bar made famous by the legendary local writer Hunter S. Thompson, and his mad run for Mayor of Aspen. It is a simple casual ride that is about 4 miles down the Rio Grand Trail. Today, the restaurant offers a mix of American and Mexican influenced dishes and is ideal for an icy margarita on a sunny day.
Lastly for those looking for a challenge, consider riding the distance to the Pine Creek Cook House at Ashcroft. A stunning mountain dining experience complete with spectacular views of the Elk Mountain Ridge, and gourmet lunches and dinners.
Enjoy our beautiful summer while it lasts and take advantage of the plethora of outdoor activities, refreshing drinks, and fantastic food.
Posted on July 11, 2016 by Carson Campbell
Aspen in July is stunning. The sun is always shining over the clear blue skies and lush green mountains. The valley is sprawled with tall white aspen trees and beautiful wild flowers. Although lovely, the high elevation can make for a powerful sun that can get pretty warm in late afternoons. Here are some fun activities to stay cool this summer.
Aspen's punch bowl (seen below) is just a short ways up Independence Pass. It is a spot along the Roaring Fork River where the water slows and swells below smooth towering rocks. The punch bowl is a local secret on account of its dangerous features. It may be an intimidating drop to some cold water below, but it is safe as long as you avoid the one perfectly visible rock near the center.
Just slightly down the road, you can find a massive rope swing into a deep swimming pool. The rope can be a bit tricky, and most people might prefer just to enjoy the swimming. If you want to try the swing be sure to choke up on the rope as high as possible and let go over the deep water below.
Even closer to town and along the same road, Stillwater is a perfect place to bring rafts or SUP’s and float along the river. The Roaring Fork River meanders through North Star Preserve. A wooden bridge above the slow moving water is a perfect place to launch off on your floating adventure.
Lastly, in central downtown, the Mill Street Mall Fountain is a popular way for kids to cool off on a warm summer’s day. The game is to balance balloons on the tall pillars of water. Running through the fountain avoiding the shooting beams as they randomly spray out of the ground is a favorite. Kids love it, and parents love relaxing as they watch their kids tire themselves out even more. Get out and explore our amazing valley. There are plenty of fun secretes to discover. Go enjoy the warm weather, and stay cool doing it.
Posted on February 5, 2016 by Chris Klug
Snowmass Village Condo Analysis February 4, 2016
I have been busy the past weeks with a lot of Snowmass Village condo activity. I think it’s such a great value today that I’m building a new single-family home there for my family. We’re so excited to be moving to Snowmass. Snowmass has never traded at a bigger discount to Aspen then today. It’s selling for about half the average sold price per sq. ft. of Aspen for all property types. On top of that there is such a strong seasonal and full-time rental demand in the upper Roaring Fork Valley with families looking to get into the Aspen School District with the number on school in the state and #24 in the country, and very little vacancy. Many Aspenites, myself included have been priced out of the Aspen single-family market, yet there are still some great opportunities in Snowmass Village. I know so many young families that have moved to Snowmass in the past year and more that are headed there this year. It’s the place to be!
I feel like everyone is holding their collective breath waiting for some clarity on base village. I believe once the future picture is clearer we will see increased activity and appreciation again. I think there are some incredible real estate opportunities at one of the best family ski/snowboard resorts in the world, not to mention one of the best single-track mountain biking destinations.
Below are some stats that I wanted to share with you from some research I’ve done on behalf of my clients the past week:
- There are 184 actively listed condos in Snowmass Village today at an average list price of $1,239,326 and an average list price per sq. ft. of $790 with 332 average days on market.
- 8 condos are pending sale in Snowmass Village today.
- 94 condos have traded in Snowmass Village the past year at an average sale price of $892,268, 93% sale/list and 355 ADOM
- An almost two year supply of condos exists today in Snowmass Village
- 61 single-family homes are on the market in Snowmass Village today at an average list price of $5,724,918 and an average list price per sq. ft. of $1,134 with 316 average days on market.
- 6 homes are pending sale in Snowmass at an averae list price of $3,813,333 and $910 list price per sq. ft.
- 33 homes sold the past year at an average sold price of $4,170,709, 91% sale/list and $941 sold price per sq. ft.
- There is about a twenty month supply of single-family homes in Snowmass today.
- There are currently 32 actively listed four-bedroom plus Snowmass Village condos on the market at an average list price of $2,598,516 and an average list price per sq. ft. of $978.96 and an ADOM of 298 days.
- 9 four-bedroom + condos have sold in Snowmass Village the past year at an average sale price of $2,725,667, 92% sale/list with an average sold price per sq. ft. of $844 and 399 ADOM.
- 5 ski-in/ski-out four-bedroom condos sold the past year in Snowmass Village at an average sale price of $2,846,200, 91% sale/list and an average sold price per sq. ft. of $863.92 with 481 ADOM.
- There are currently 25 actively listed four-bedroom + Snowmass Village condos on the market today with 1 pending sale, #60, with an average list price of $2,743,688, $1,026 list price per sq. ft. and an ADOM of 298 days.
- The absorption rate for four-bed plus condos in Snowmass Village is 60 months.
I hope this is helpful. Contact me if you'd like more information on Snowmass Village condo and single-family properties. Happy winter season!