To say that I am excited is an understatement! I didn't know who our next President would be until I woke up this morning at 4:30 am. Our voices were heard and yes, I did vote with my head. I watched everything there was to watch on both candidates. When I went to vote yesterday I still did not know which way I would go, I filled out the rest of the ballot and had to come back to who I wanted to vote for for President. I, for one, am ready for change. I believe that Barack Obama will make a great President. I believe that our economy will now make a turn towards the positive. Real estate will begin to sell again, people will start to spend their money again and we will be fine. We needed this change!

Is this a good time to buy Aspen/Snowmass real estate? How is Aspen's real estate market compared to the rest of the country? The real estate market started to decline in Aspen about 12 months ago. Since then we have seen a 28% decline in our number of transactions and a 41% in the total sales volume from the previous 12 months. In addition, the average price and the median price of a property sale in the past 12 months are 18.7% and 41.6%, respectively. They are below the average and median price of a sale in the previous 12 months. These statistics do not mean that Aspen's real estate prices have dropped dramatically. Although the total number of transactions has declined by 28%, the number of sales over $10,000,000 has declined by 61%. The decline in sales over $10 million has brought the average sales price down but that does not mean that the prices in Aspen have dropped.

There are two reasons why a significant decline in Aspen's real estate is unlikely. The first reason being, 61% of the real estate purchased in Aspen in the past 12 months was bought without financing. Aspen is a highly un-leveraged real estate market and is not subject to the forces that are visible in other markets around the country. The second reason being location. Aspen is rated as one of the most desirable resort spots in the world.

We are seeing the inventory of properties in Aspen and Snowmass start to decline also. At the beginning of September we had about 463 homes and condos in Aspen and 197 in Snowmass that were for sale. Today we are seeing 419 in Aspen and 164 in Snowmass. This modest decline is, for the most part, expired listings or properties being withdrawn from the market rather than sales, but a decline in inventory is one of the first signs that our real estate is beginning to recover.

It's very difficult to pinpoint the bottom in our market but there is growing evidence that we may very well have bottomed out here in Aspen/Snowmass. In the last 33 years, Aspen has only experienced six years, including this one where the average real estate sales price has declined from the previous year per the Aspen Board of Realtors. Aspen has never seen a deline that has lasted for more than one year. Following every year that real estate prices has declined, the average sales price has increased by about 27%.

So, is this a good year to buy real estate in Aspen/Snowmass, Colorado? It's hard to be certain but if history is any prediction of the future, this may be the best opportunity to buy Aspen/Snowmass real estate that we have in the last 33 years.

Thanks to Bill Small for providing these statistics and for the opportunity to share them with the rest of the country.

Wow, Basalt is the happening place in the Roaring Fork Valley! If you are looking to invest your money, this is where you should buy. There are currently 68 condos, townhomes and duplexes for sale and 59 of those are priced under one million dollars! The average price per square foot is around $400. There are 50 single family homes for sale right now with an average price per square foot of about the same, $400. There are alot of great deals out there, I would be happy to help anyone who has an interest in investing in the hot spot of the valley. Give me a call, I can help!

So, you want commercial property in Aspen? There isn't much and never is. The prices are high and inventory is low. Currently in the central core of Aspen there are six properties for sale. One is under contract, it's a block outside the central core and is currently a dentist office with a couple of offices upstairs that house and attorney and a structural engineer. It was listed at $5,900,000 and I understand they are going to turn it into a bank. I guess we need another bank here. Two properties right on the Hyman Avenue mall that are right next to each other are for sale. They are the Billabong and New York Pizza and the T shirt shop. These have had the same tenants for years and are for sale for $5,000,000 and $5,500,000, These would both be a great investment for someone looking to own commercial property in Aspen. Interested, give me a call!

Currently there are 89 listings for vacant land in Aspen and the outskirts of Aspen. There are a couple of really nice 25 acre parcels not very far up Castle Creek that are priced at $4,500,000 and $5,500,000. These would be a wonderful place to build your special home and still be close to town. As usual, there are only a handful in the town of Aspen but there seem to be more than usual. The prices range from $3,500,000 up to $14,500,000. Many of the listings for vacant land include a house which is usually a tear down. There are a couple that are listed on Red Mountain, look to spend about $10,000,000 for an acre or so up there. Vacant land is tough to find in the town itself but there are a couple. It's very difficult to build in Aspen, there is so much you have to go through to get a building permit. There have not been any new building permits issued in over a year now. Hopefully, that will change soon. I have buyers looking for vacant land and I have suggested that they look at existing homes as they will be able to come to Aspen and have a place to stay and not have to wait two or three years.

What a difference two years can make ! Two years ago there was not much inventory for sale in Aspen and there were tons of buyers looking to buy. Today there are 124 condos, townhomes and duplexes listed in the central core of Aspen. There are currently 6 duplexes priced between $2,150,000 and $5,200,000, 101 condos priced between $229,000 and $32,000,000 with 85 of those being priced between $750,000 and $4,500,000. Wow, what a selection! There are 13 townhomes priced between $1,625,000 and $10,900,000. All of these range from studios to 5 bedrooms. The average price per square foot is still running about $2000 but there are some great deals out there.

There are currently 192 single family homes for sale in the Aspen area, not counting Snowmass or Woody Creek. There are a few good deals out there but expect to pay at least $4,000,000 for a three bedroom, single family home in town. What a great time to invest in Aspen! The stock market is unstable, the prices in Aspen have fallen just a bit but have held pretty steady even though the economy is not so good. Aspen is and always has been a wonderful place to invest your money.

I expect that after the election or soon afterwards, no later than the beginning of the year, that real estate in Aspen will go back to the way it was. When people start coming to ski, starting about Christmas time, the sales will increase because everybody loves Aspen and wants to own their own place here. The inventory will decrease, the prices will go up and we'll be back where we were a couple of years ago. We are in off season right now and it's a great time to start looking for that special place. If you or anybody you know are looking for a place to invest your money, Aspen is always a great place to spend your money!

It's off season in Aspen and the Roaring Fork Valley and real estate sales are slower than I have seen for quite some time. There are a few things selling but not many. There have been a couple of really big sales but for the most part, not many people are buying. I did a search on vacant land parcels in High Aspen Ranch for one of my Buyer's that purchased a lot in 2006 who is thinking of selling. As it turns out there have been four sales in the last six months priced from $995,000 to the most recent sale of $1,250,000. It appears that the vacant land sales are doing better than home sales. She was wondering if she should sell now or wait for awhile. I told her that if she lsted it now and could sell it for the same price as the last sale, she would triple the amount she paid for it. The reason she wants to sell is so they would be completely debt free. I know that is what everyone would like and if we can do it, she would feel very secure. This is a gorgeous, close to 40 acre lot, up on Missouri Heights and the views are outstanding. You can see for miles, all the way to Aspen and down to Glenwood Springs, an awesome panoramic view. I think that the investors that are pulling their money out of the stock market may be re-investing in the real estate market so now would be a good time to sell. This area has a pool, hiking and biking trails, horse riding, ponds for fishing, an owners lounge and much more! There has been approval for a new subdivision up above, it's going to be a huge, golf course communty and the prices will be much higher than High Aspen Ranch. The approval has driven up the prices and the interest of High Aspen Ranch. How is vacant land doing in other parts of the country?

I don't think real estate in Aspen, Colorado can get much slower. This is the slowest I have seen for at least 15 years! There are tons of new listings, the prices are still really high and nothing is moving. It'll be great for someone looking for new listings in about a year when all of these expire! There hasn't been any action for months now and I predict things will change after the election. I do have a new listing, it's a fractional ownership. It is a one bedroom/ one bath, 700 square feet in the newly construction Innsbruck in the central core of Aspen. It offers all the amenities including twice a day housekeeping, on site management, shuttle service, pool, hot tub, steam shower in the bathroom along with a jetted tub, full kitchen, washer/dryer in the unit, sleeper sofa for guests, dogs allowed, exercise/weight room, cable tv and high speed internet. You get four weeks per year with three of those guaranteed in the prime season. The owner wants it sold asap (don't they all) so we have listed it for $100,000. There is also an exhange program included. If anyone is interested in owning a piece of Aspen for a fraction of the price, get ahold of me. I've been spending my time doing odds and ends jobs just so I can make the bills. I am so looking forward to things getting back to somewhat normal because I love doing real estate. How's it going out there for the rest of you?

After months of careful consideration, I have made the move! I resigned from Remax yesterday and am now back out on my own. The name of my company is Blue Moon Realty, LLC. I have my MRE and ABR designations and my e-Pro certification. I also have my Managing Broker license but I think that I will work by myself for awhile. I like the represent Buyers as a Buyer agent but I was not able to do that in the office I was in. Now that I am back on my own, I can represent Buyer's and Seller's as their agent, I am very excited! I don't have my website back up yet but very soon, I'll let you know when it's back. I will still be selling real estate in Aspen, Snowmass, Basalt, El Jebel, Carbondale and Glenwood Springs. I can go further if I need to, Newcastle and Silt are still doing well with real estate sales. Although sales in the Roaring Fork valley are still slow, I feel that they will pick up very soon; I'll be working on listings until then,