Hello Friends!!!

Aspen was definitely blessed with incredible snow this season. We also have one of the smartest local meteorologists who truly studies all the models in late fall and his winter forecast in October was within a few inches as of last week.

The Aspen Ski Company did another amazing job of mountain maintenance. With so much bad news everywhere, skiing, skinning, hiking our mountains is truly JOYOUS!!! The restaurants and retail also did very well and now we wait to see who moves around or opens and closes for our next big summer season!

Our summer looks BACK TO NORMAL with music, lectures, theater, and even everyone’s favorite - THE 4th OF JULY PARADE!!

Of course, Real Estate is always a huge topic. So, let’s catch up on all this below!!

I must admit that the market is truly nuts right now. A few years ago, our top local appraiser coined the phrase “the billionaire effect." Obviously, not all our buyers are in that category, but the surge in dollars spent is stunning. For example, I did my entire winter business calling long time friends and past clients asking them: 

1.    Do you want to sell for a stupid price?
2.    Do you want to move up or down?
3.    Are you ready for warmer weather and/or a lower altitude?

This is what happened:
1.    My friend owned a Monarch on the Park penthouse chose to sell and we closed at $17,350,000 at about $4,800 per sq ft.
2.    Then, I sold that Seller a single family home on E. Cooper, a few blocks from the gondola for $10,000,000 at about $3,100 per sq. ft.
3.    Next, I found a marvelous, larger single family home for that family at $14,250,000 or about $3,100 per sq ft.
4.    I als0 called friends in Mountain Valley who now spend winters in Palm Springs and they agreed to sell their lovely home at $6,400,000 AND
5.    They purchased a home listed on the MLS on a beautiful golf course in mid-valley for $2,650,000!

There are even crazier stories such as the Tommy Hilfiger home on Aspen Mountain that he bought at Christmas for $31,000,000 and re-sold for $50,000,000 in March.

SO, WHAT does this mean for you who may want to buy or sell this summer? It seems like Sellers could still be in the driver’s seat-EXCEPT- even though most our Buyers pay cash--- with interest rates rising that could affect business loans, so we could see some correction in the market, even from the uber wealthy. I also believe that the Covid buying people from big, exciting cities, could find us “boring” year around. So, they may want to sell.

For Buyers: I have been very successful this winter finding unlisted property which I will continue to do. I do think there may be a few opportunities- especially mid valley based on what I stated above. Give me a call or email with your thoughts. You know, I LOVE THE CHALLENGE!
WILD FIG- moves next door to former Nakagawa
7908-closing for summer to decide what they want next???
L’Hosteria & Tatanaka: Purchased by new group-more to come next month!

RETAIL UPDATE: I will know much more in our May letter.
Aspen Theatre in the Park
June 27 – July 23
This iconic musical kicks off our 2022 Summer Season! Gypsy is the ultimate tale of an ambitious stage mother fighting for her daughters’ success – while secretly yearning for her own.

June 22-June 25

Aspen Institute released a sneak preview of speakers that will be in Aspen this summer! These visionary leaders will engage in thought-provoking conversations about bold approaches to better health for all.

Aspen Music Festival
June 30-August 21
One of the top classical music festivals in the US (founded in 1949), noted both for its concert programming and its musical training of mostly young-adult music students. CLICK HERE
Aspen 4TH OF July Celebration
A tribute to Aspen – Embrace your red, white, & blue and express your stars & stripes as we celebrate America’s Independence Day…
Aspen-Style! CLICK HERE
Take a Hike!
With off season upon us there are no big events and ever takes a little town to decompress. Aspen - and the entire Roaring Fork Valley- is the epitome of a hiker’s paradise with a system of trails for all abilities. CLICK HERE

Call us for a listing analysis and/or properties for sale. We are here to help you in every aspect! Call me to quietly sell your property or find you the unlisted jewel.

Enjoy the Month break in May and we look forward to seeing you back in June!!