There is a frenzy in the air over purchasing property in Aspen and The Roaring Fork Valley. In the third quarter of 2021, condominiums and townhomes sales have increased by 48% over the third quarter from 2020.

This one bedroom 1.5 bathroom was listed for $980,000 last summer and it did not sell. It was re-listed last week at $1,3000,000. Within 36 hours, there were 4 offers, 3 of which were at full ask and two of those were cash. People are searching for hard assets due to significant inflation concerns and the resulting decrease in value of the US Dollar. You can read more about the market in Sotheby’s 3rd Quarter Market Report.

World Cup Opener in Solden Austria

Nothing says the start of the ski season like World Cup Ski Racing. The World Cup Opener was held in Solden Austria high on the Rettnebach Glacier. Solden gives us a glimpse into who will be competitive for the upcoming season.

On the women’s side, Mikaela Shiffrin had a dominant second run, edging out Laura Gut-Behrami from Switzerland by .02 of a second. A strong US Women’s Team placed 4 in the top 30, more than any other country.

The US Men are rebuilding after the retirement of Ted Ligety and an injury sidelined Tommy Ford. River Radamus stunned the crowd starting 26th to finish 6th. Ryan Cochran Siegal was .01 of a second away from qualifying for a second run. RCS is still recovering from a broken neck after having a horrific crash in Kitzbuehl Austria last winter. The world cup moves to Levi Finland at the end of November for a Mens and Women’s Slalom event.

Eight Surprising Facts About the Roaring Fork Valley

No matter if you’re a skier, snowboarder, artist, or pilates instructor, the Roaring Fork Valley has something for everyone because of the dynamic history of this region. These are eight facts about the Roaring Fork Valley that put and kept itself on the map.

1. The Aspen area was originally home to the Ute Indians and called “Shining Mountains.” When the money-hungry silver miners moved into the valley in the 1870’s, the Utes cursed anyone who slept in the shadow of Mount Sopris would be doomed to never leave.
2. In 1887, Aspen became the first town west of the Mississippi to provide businesses and street lights with hydroelectricity – meaning electricity powered by falling water. Homes, however, were still heated by wood stoves. For those who couldn’t afford to heat their homes, the Hotel Jerome functioned as a boarding house for locals. Conveniently, those same locals were likely saddled up at the J-Bar with their mining colleagues. 
3. Glenwood Hot Springs is the largest mineral hot springs pool in the world. With more than one million gallons of water and stretching the length of two city blocks, the healing mineral springs have rejuvenated many famous U.S. figures, such as Doc Holiday, Abe Lincoln, and Molly Brown. In fact, the Ute Indians originally named the springs Yampah, meaning “Big Medicine.”
4. The 10th Mountain Division, an elite unit of military, was largely responsible for the rapid growth of the ski industry in the U.S. after World War II. The “ski troopers” fired-up what is modernly known as Aspen Mountain Ski Area. The 10th Mountain Division trained for combat throughout the Rocky Mountains and resided in huts scattered throughout the high country. While the 10th Mountain Division is still actively serving our country, the huts they once resided in are now available for rent by backcountry aficionados. 
5. The first ski run cleared on Ajax Mountain was Roch’s Run and was reached via the revolutionary “Boat Tow.” The “Boat Tow” ran from 1937 to 1946, carrying six passengers at a time in what looked like a boat on a rope. Only two boats ran at a time with one going uphill loaded with passengers as the other returned downhill empty. Shortly after the installation of the revolutionary boat tow, the legendary Lift 1A was built and dedicated as the world’s longest chairlift. 
6. Legendary folk singer John Denver was inspired by the Valley’s beauty when he wrote his 1972 world-recognized hit, “Rocky Mountain High.” Denver made Aspen his refuge when he purchased his sprawling Starwood estate and the Windstar Ranch in the Snowmass Creek Valley. However, locals at the time were unhappy with the exploitative nature of Denver’s music because of the popularity it was giving Aspen. 
7. While snowboarding was allowed on Highlands, Buttermilk and Snowmass, Aspen Mountain Ski Area had not lifted their ban on snowboarding until 2001. Aspen Mountain Ski Area was one of the last ski resorts in the country to allow both skiers and snowboarders to coexist on the slopes in an effort to increase revenue and keep numbers up. However, the first snowboarders to ever be documented on the mountain was in 1981, where several of them were allowed on the slopes for a photoshoot in lieu of a requested snowboard competition. 
8. According to Forbes’s 2021 list of billionaires, there are 2,755 billionaires worldwide. Of those, roughly 60 billionaires own residential or commercial property in the Aspen area. Local real estate appraiser, Randy Gold, estimates that there may be closer to 75. That would make Aspen one of the most billionaire-saturated markets on the planet.

Eight Surprising Things About the Roaring Fork Valley content courtesy of Aspen Snowmass Sotheby’s International Realty.

This is the time of year I wake up thinking about the ski season. The leaves are changing, the days are getting shorter and there is a chill in the air. I went into Gorsuch earlier in the week to start the process of working on some new ski boots. Winter is coming. Have you purchased your ski passes, condo/home for your stay, flights? There are more direct flights from cities around the country into Pitkin County Airport than ever before.

Mid and Down Valley Market

The mid and down valley markets offer a great value. Home buyers recognize this and people are migrating down valley from the Aspen and Snowmass Area. Properties are going under contract in days, with multiple full price or over ask cash offers. The closings are very quick.

In Basalt, and Carbondale the Percent of List Price Received for townhomes and condos is 99.6% and 100% respectively (click on the number for the full report). In Glenwood Springs that number is just over 100%. Inventories are down by 50% throughout the valley, with buyers still looking to get into the market. This is driving prices up.

Average price per square foot for condominiums in the Glenwood Springs area is around $325, which I believe still offers some great value. ROI’s are in the 7%-9% range for rental investment properties. Give me a call if you would like to discuss anything in the mid to down valley market.

If you are looking to refi look no further than Bay Equity

I just had a great experience refinancing one of my investment properties with Katie Erickson at Bay Equity in Downtown Basalt. This was my Third try at a refi. I was told Fannie and Freddie where no longer underwriting “Sea and Sand” investment properties. Katie had no problem getting this done quickly, with very little paperwork. Their automated portal made collecting documents seamless.

We completed the file and funded within 4 weeks. I wish I had found her last year. You can reach out to Katie here.

Winter Rentals

We are seeing an astounding amount of inquiries for winter rentals. Please give me a call if you are looking for something to rent this winter. I have 3 rental listings listed below in addition to hundreds of other that are available throughout the valley.

718 S Galena St. Unit 102A, Aspen

This beautiful 2nd floor Durant Condo has ski-in ski-out access and amazing unobstructed down valley views. An extensive remodel of the exterior as well as a stylish, timeless interior was recently completed. This unit has a superior location with the complex in the first building and only one staircase up. The living room windows slide open to enjoy the afternoon sunset. Centrally located, you can walk anywhere in town within minutes. Heated pool and hot tub are steps away. There are two large storage units located right outside the front door.

901 E Hyman Avenue, Unit 9, Aspen

This Chateau Blanc two bedroom two bathroom was remodeled in 2019. Enjoy this quiet location just two blocks to the center of town and four blocks to the Silver Queen Gondola. Natural light adorns the bedrooms and living area and you can entertain four to six people in the large living room and open kitchen. That same area allows you to relax after a long day in the outdoors. A wood burning fireplace, east facing deck, stackable washer and dryer as well as off street parking round out the amenities this two bed two bath has to offer.

250 S Original Street, E, Aspen

This light and airy Chatelet two bedroom/two bathroom unit at 250 S. Original St. couldn’t be more perfectly situated in the central core of Aspen – just steps from everything downtown has to offer and only three blocks to the Silver Queen Gondola. Unit E was updated this spring including a new gourmet chef’s kitchen featuring Wolf appliances, hardwood floors, refreshed paint, and new bathroom fixtures. The convenience of being right downtown combined with the coziness of a wood-burning fireplace and outdoor space to enjoy a morning cup of coffee on the east facing deck makes this the perfect pied-a-terre for your next visit to Aspen. There is also a dedicated parking space and mail service.

Have a great fall!

Jazz Aspen is upon us and the line up looks great. Kings Of Leon, Sheryl Crow, Jimmy Buffet, and Cary Clark Jr. are just some of the performers appearing this weekend. In addition there are some amazing acts performing at Belly Up Aspen including Spoon, and Gary Clark Jr..

In case you or someone you know are looking for a rental for either this weekend or Food and Wine the following weekend, I had some recent cancellations on two of my rental condominiums. Chateau Chaumont is a 2 bedroom/2 bathroom unit available from Saturday September 4th till Wednesday September 8th. Durant is a 3 bedroom/3 bathroom condo available from Wednesday September 8th for the rest of the month. This unit is located one block from Wagner Park, and would be a great place to stay while attending Food and Wine. Inquire about last minute discounted rates!

Get a jump on your winter rentals

Winter is just around the corner and it is never too early to book a winter getaway to Aspen Snowmass. I have five rental listing that are starting to fill up as well as access to hundreds of other listings in the valley. Please contact me for your rental needs.

New Winter Route Announced From Orange County

United Airlines has announced that they will be flying direct between John Wayne Airport (SNA) and Aspen-Pitkin County. The flight from John Wayne will depart at 4:00pm and the return flight will depart Aspen at 2:00pm. United will also offer five other direct routes from Los Angeles, San Francisco, Denver, Chicago and Houston. Delta will fly direct from Atlanta and Los Angeles.

Recent Closings

It was my honor to represent the Buyers on two recent closings. 2550 Highway 82 D200, Glenwood Springs is a 2 bedroom/2 bath hip, contemporary, loft-style condominium with high end finishes and a fenced back patio. This prime end unit is walking distance to restaurants and allows commuters to be up valley in no time. 773 County Road 117, also in Glenwood Springs, is an income property with outstanding rental history and no vacancies. A special setting near the new bike path and adjacent to the Colorado River makes this complex easily accessible to public transportation and everything Glenwood Springs has to offer.

Over the last 3 weeks, we have been blessed with a monsoon flow in the Roaring Fork Valley. This has kept things green and plush with lower afternoon temperatures. With the monsoon flow, mudslides have persisted and closed various roadways around the state. If you are traveling from Denver, I would suggest using COTRIP.ORG to plan for your drive to town. This sight provides up to date traffic and road closures/detours. They have an app as well.

My Featured Listing

I now have 5 rental listings in and around town and have my finger on the pulse of the rental market in Aspen. Please reach out if you are looking to book a late summer getaway, or if you want to get a jump on a winter vacation. My properties are booking fast for the upcoming winter and I am expecting a very busy and snowy season in Aspen Snowmass.

This beautifully appointed 2 bedroom 2 bathroom is located in the core of town, centrally located to everything Aspen has to offer and just one block to The Silver Queen Gondola. The unit was remodeled in 2017 with granite countertops, new kitchen appliances, hardwood floors, a wood burning fireplace, new furniture, new beds and both bathrooms have been remolded as well. Hot tub is right outside the front door.

Q2 2021 Market Report & Market Share

In the second quarter of 2021, as well as for the past 20 years, Aspen Snowmass Sotheby’s International Realty was able to assist more sellers and buyers with their real estate needs than any other brokerage firm in the Roaring Fork Valley. It is undoubtedly a seller’s market. Snowmass Village continues to top the charts in growth with an increase of 735% in total sales volume.

Ski season is winding down. Aspen Mountain closed on Sunday and Snowmass is set to close next Sunday. Aspen Mountain will not be re-opening until mid June as they are replacing the Silver Queen Gondola’s haul line. Uphill traffic will be allowed on Aspen, Highlands, Buttermilk and Snowmass.
This clip is from a recent trip I took up main Buttermilk with my pups. Barley had to get a lift down in my pack. His little feet could not keep up.

The summer rental market is super hot! With Europe still closed, Aspen is seeing an huge influx of domestic travelers. If you are looking for a rental apartment, I have two listed below and have access to hundreds of other options. Please do not hesitate to reach out with any questions about your summer’s vacation plans. I look forward to helping you plan your next trip to Aspen/Snowmass.

Jazz Fest and Food and Wine Tickets are on sale

The Jazz Aspen Snowmass Schedule was announced and tickets are on sale for the June 24th-27th event in Aspen as well as the September 3rd-5th event in Snowmass. The line up includes Stevie Nicks, Kings of Leon and many others.
The Food and Wine Classic tickets go on sale today till April 27th exclusively for American Express Card holders. This years event is from Sept 10-12. It is sure to be a great festival during a spectacular time in the Aspen area.

Q1 2021 Market Report and Market Shares

2021 is off to an impressive start for Aspen Snowmass Sotheby’s International Realty. While 2020 started off at a fairly normal pace, it was quickly shut down by COVID at the end of March. When comparing 2020 to 2021, we see the high demand for single family homes throughout the entire valley. Snowmass Village topped the charts in growth with an increase of 339% in total sales volume.

It seems that life is returning to some sense of normalcy. In a welcomed move, Aspen City Council rescinded its outdoor mask ordinance by a vote of 4-0 two weeks ago. And in even better news, Belly Up announced that they will be opening up at 100% compacity with no masks required to a full schedule (proof of vaccination or negative COVID 19 test are required). Click here for a schedule of shows.
Food and Wine will return to Aspen September 10-12 and has already sold out at half compacity. It is a great time to visit Aspen with cooler temps and plenty of fun to be had.
For a list of all upcoming events and activities happening this summer and fall in Aspen, please click here for a schedule from The Aspen Chamber Resort Association.
If you need a place to stay, please reach out with your rental needs. I have dates available across the calendar.

It has been a wild month in the Roaring Fork Valley. These foxes were taken by surprise by the 3-5 inches of new snow we had last week.
Snowstorms have blanketed the valley, only to be followed up with 70 degree temperatures less than 24 hours later. We need the moisture and it looks as though we are settling into a stable weather pattern.
The summer rental market is as crazy as the weather. Rentals are going for $20,000 per 1,000 square feet for the summer months. July close to 99% booked and guests are scrambling for places to stay. I still have a couple of options if you are looking. It is not too soon to start thinking about next winter. I have two units that are already booked for December, January and February.
Do not hesitate to give me a call with any of your rental or general real estate questions.

Selling the Mountains Podcast by Christian Knapp, a great intro into the Valley’s real estate market.

Christian Knapp the former Vice President and Chief Marketing Office for the Aspen Ski Company started this podcast a few months back. 16 episodes later, Christian is finishing up his last episodes in the coming weeks. I love podcasts and listen to this one religiously. This is his first foray into podcasting and Christian’s guests have been diverse and extremely interesting to listen to. There are great stories told and I found the best two episodes to be episode 11 with Craig Morse and episode 12 with Steven Shane. Click on the picture above for the Selling the Mountains Podcast.