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!
