LIV Sotheby’s International Realty produces an annual Resort Report that specifically analyzes real estate market data for homes in resort locations, including Aspen, Breckenridge, Crested Butte, Steamboat Springs, Telluride, and the Vail Valley in Colorado; Park City, Utah; Sun Valley, Idaho; Jackson Hole, Wyoming; Big Sky, Montana; North and South Lake Tahoe, California/Nevada; and Santa Fe, New Mexico.
To be fair, any new administration or shift in political policy is going to have an impact on the bottom line. Taxes and take home are the stuff on which elections are won and lost. So I thought it might be valuable to take the time to review some of the proposals that could have an impact on the residential and commercial real estate markets.
Hard to believe we’re one month into this new year already!
COVID is still a reality in our local communities but one of the great things about living in the mountains is the abundance of healthy outdoor activities. If you are thinking about visiting, flights and lodging are available. The slopes are open with social distancing and other health measures in place. We had fresh snow last weekend and more is forecast for this week! Restaurants in Aspen Snowmass are open again but at a lower capacity so be sure to make reservations early. You can also support our local restaurants by ordering take out or buying a gift certificate to use later.
Interest in real estate remains high and although there are fewer options to choose from, opportunities are out there to secure your piece of paradise. Reach out if you’re on the hunt or thinking of selling in this historic market. It’s a great time to be here!
As a guy who sells homes and dirt for a living, I found the recent coverage of the local housing lotteries remarkable for a myriad of reasons. I noted the report highlighted the lucky few and didn’t talk much about those who weren’t chosen. I wondered how they felt and what they would do now. The complexities and wide-reaching effect of such programs made me think.
312 McSkimming Rd is the newest addition to the desirable East Aspen neighborhood of Aspen Grove. With architecture by George Winnie and construction by Doug Hayes, the contemporary design and finish of this stylish home is sure to appeal. Offered now for pre-completion customization, this is the time to secure a new piece of Aspen sure to last for generations. Scheduled to break ground in December 2020 with completion in Spring of 2022.
Now that we’ve put 2020 in the rear-view (for better or worse), a new year with fresh promise and potential is suddenly upon us. In my monthly column below, I quote a local expert who says he thinks we’ll top out at more than $3B in sales for 2020 once all is said and done. It was a record year for me and many others and I sincerely thank you. And although inventory is at record lows now due to all the recent activity, there remains strong interest in properties of all kinds here in our special valley. I expect 2021 to be another busy year. And like the last twelve historical land unprecedented months, the time ahead is sure to continue to be one of challenge, enlightenment and opportunity. Please reach out if I can be of service!
This time of year I’m always compelled to look back at the previous twelve months, reading and watching all the year-end reviews. I’m always amazed at how much has happened, how many people died, what I remember and somewhat surprisingly, what I’ve forgotten. If there was ever a year when just the thought of attempting to reconcile the last 365 days risks short-circuiting our fragile and collective sub-conscience, 2020 was it.
I have done my best to acknowledge the continuing economic crisis as millions remain out of work, the virus surges out of control and many local and service-oriented businesses in our mountain towns are teetering on the brink. The number of tourists who might visit this ski season is also uncertain; a critical driver of revenue and livelihood for so many in our community. COVID fatigue is a thing now and the new normal continues to take its toll as schools go distant again and restrictions for bars, restaurants and gyms creep back in.
Long before COVID, those of us in the real estate industry, as well as those who watch it, have been talking about this year’s election. Historically, market activity related to housing slows down every four years when the presidency is at stake. It’s essentially a predictable leading indicator and one with ramifications before, during and after the event. After years of speculation and predictions on the part of the experts and pundits, this critically significant national referendum is finally upon us. Its outcome could be known this week or perhaps not for months.
After an unprecedented and historical selling season here in the Roaring Fork Valley, we’re finally catching our breath and settling into fall. Interest remains strong, but inventory is extremely low as a result of all the summer trades. Many deals are now getting done outside the MLS and that’s when a broker with experience, connections and resources can make all the difference. For more information, click on my video below, review the latest market report, view recent sales and listings. Reach out if I can be of help! Meantime, enjoy the cooler weather and stay healthy.
Best regards,
Scott
