Aspen Condo Sales Are Two Faced

Buyers always want to know what are the best deals to be had in the Aspen Market.  Yes, there are some great Aspen and Snowmass condo deals right now.  However, the Aspen Market is still very tough for buyers that want to make a great buy in the best of locations.  For example,  the North of Nell is one of Aspen’s premier buildings.  RARELY do units become available.  It is actually a condo hotel situated in the best location in town,  at the base of the gondola in downtown Aspen.  A three bedroom unit that was 1476 square feet, just sold yesterday for $2,400,000 at $1626 a foot.  Buyers don’t seem to want to believe that these type sales continue to happen for the best locations.  At the same time,  it is absolutley certain that there ARE some great deals out there right now.  I just completely a tedious short sale with a bank for customers who closed on a two bedroom townhome with two car garage that also was approximately 1420 square feet and they paid $800,000, which is 563 a foot.  It’s walking distance to town over the Hopkins foot bridge.  You take a shuttle to the gondola if you are in your ski boots.   So my point is that there ARE great deals to be had, but as a buyer, you must be willing to make compromises on location.  I also completed a short sale with a customer this March who was buying at the Southpoint.  This is another building that compares to the Little Nell.  Three blocks to the gondola, mtn views, underground parking and the short sale closed at $1,057,000 for 980 square feet.   You can see the dramatic difference in price per square foot and we are talking a distance of less than 1/2 miles between the two short sale properties.   The southpoint is on the same street as Little Nell Building but only ONE BLOCK West.  So my point, it’s still Aspen and the best buildings still command prices that defy the typical buyer expectations right now.  You can have a sale at $1600 plus a foot and a short sale a block away.  You can make a great buy if you have flexibility on LOCATION and condition.   Call me if you want more information on the best deals right now.  There are still short sales available out there for the buyer that is flexible and wants Aspen.