HAPPY HOLIDAYS FRIENDS!



The picture-perfect postcard for the holidays is right here in Aspen! There is nothing that quite says Christmas/Hanukkah/New Year’s than the glistening snow beauty with red, green and white lights.

The skiing is surprisingly good this early in the season. Unfortunately, I missed the first two backcountry powder cat trips last week, but my friends loved it. The retail stores look festive, and the restaurants are gearing up for a busy two weeks ahead!

REAL ESTATE UPDATE



I attended a “Think Tank” luncheon hosted by one of Aspen’s top brokers. He also had a money manager speak, a local CPA, and a hard money lender plus a local builder of luxury properties. Here are some highlights:

1. Aspen is so unique that the wealthy cash buyers will still buy for the “hideout” lifestyle.
2. Comments from money manager and CPA- Tough decisions are being made with generational families wanting to leave their Aspen property to “the kids." There are too many examples of not being clear in wills and the siblings often wind up in court.
3. Interest rates will not drop much next year so this could cause more negotiating on price.
4. The high-priced properties that have not sold this year need to lower their prices if they are real Sellers.

PITKIN COUNTY LOWERS SIZE OF HOMES

ALLOWED TO BE BUILT

Local governmental powers are always trying to regulate the size of building, etc. They approved a 9,250 square foot cap from the current 15,000 sq feet. I am not sure if you can still buy a TDR (transferable development right) to increase that. It is time again to work with a land planner.



The government folk always forget that every time they downzone or add building code stipulations, they exponentially increase the value of existing larger homes. So, we will see in 2024 how that affects prices.

The City of Aspen is still a 3-2 vote against opening up demo permits beyond a strict limit of 4-6 per year. Again, they have no concept how this affects whether or not a long-time owner can sell an older home…and how this hurts an older owner. (CLICK HERE FOR ARTICLE)

ASPEN JEWISH CENTER

Rabbi Mendel Mintz has worked tirelessly to educate the Aspen Community to come together. (CLICK HERE FOR ARTICLE)