Aspen Property Market and Real Estate Guide

(Aspen, Colorado - CO, USA)

The city of Aspen, Colorado, lies in breathtaking countryside along the Roaring Fork river valley. Surrounded by mountains, the city has developed into an upscale residential, visitor and second home destination, with tourism forming the basis of its economy. Both summer and winter homes are enjoyed by wealthy who seek a vacation pad in this sought-after nature escape.

Aspen Pitkin County Airport is a hub for corporate and private jets, as well as connecting nationally and internationally via United Airlines and Delta. The town lies on Colorado State Highway 82, the only easy access as the mountain passes require all-terrain vehicles. A bus network serves the town, links with outlying villages and is free within the town boundaries and to the airport. All of these add to the desirability of the place.

Property prices have skyrocketed since the emergence of Aspen as a fashionable ski and social playground for the seriously wealthy, and its downtown area is now an upscale shopping district with exclusive designer boutiques and restaurants. The municipal authority is struggling between further growth and the preservation of the town's historic character.

High-end luxury homes with asking prices between seven and eight figures are the norm in Aspen. Property styles range from mansion to condo, with many jetsetters purchasing second or third homes in the town. A small group of long-term residents who inherited their homes from their parents are fighting a losing battle against the trend.

Renting Serviced Apartments

Several aparthotels provide upscale serviced condos in Aspen. Most are luxury standard, with high-end kitchens and bathrooms, ultra-modern furnishings, Internet access, plasma TVs and balconies with great views. Prices are comparable with local hotels, and, considering the location, seem reasonable.

Other options include fully-serviced ski chalet rental. Some are second homes for wealthy people, rented out by agents while not in use by the owners.

Buying Apartments and Houses

A wide variety of homes is available in and around Aspen. There are no problems with foreign property ownership if the property is intended as a holiday home for no more than six months each year. For permanent residence, a social security number and valid work permit or Green Card is necessary.

A Buying Agency Agreement with your Aspen realtor sets out your exact requirements and ensures good service, and a lawyer is also essential. Your realtor is your representative and advisor on the entire procedure. Once you have found your ideal home, an initial purchase offer is made, an 'intent to purchase' contract is signed and a deposit lodged.

Any negotiations, the compulsory home inspection, title search and clearing of any debts levied on the property (lien), are arranged by the realtor. Once the final contract has been drawn up and signed by both parties and the property has been re-registered, the final payment is made. Closing costs will run to between six and eight percent of the purchase price.

Real Estate Agents

As well as local agents, a number of upscale international agencies deal with local properties.

We can recommend the following Aspen estate agencies:

Coldwell Banker Mason Morse
Address; 514 East Hyman Avenue, Aspen, Colorado CO, 81611, USA
Tel: +1 970 925 7000
An experienced local agency with a comprehensive list of properties.

Aspen Snowmass Sotheby's International Realty
Address: 415 East Hyman Avenue, Aspen, Colorado CO, 81611, USA
Tel: +1 970 925 6060
This agency is part of the Sotheby's International Realty chain and deals in luxury homes of all types.

Carol Dopkin Real Estate
Address: 122 West Main Street, Aspen, Colorado CO, 81611, USA
Tel: +1 970 920 1186
This friendly agency has 30 years of experience in Aspen and an excellent website. Their slogan is 'Choose a realtor with Horse Sense', appropriate as Ms. Dopkin rescues horses!