Jun
20
2010
- Looking to do some rafting this weekend – looks like flows will be more moderate. Check out Mountainbuzz http://resorttownblog.com/5a8 #
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Jun
17
2010
I am very excited to announce that my new Term Life Insurance site is up and operational.
It has a very accurate quoting mechanism so that you will know with a very high probability exactly how much your premiums will be.
TermRateQuote.com is a going to be a big hit.
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Comments Off Jun
17
2010
“Doing something costs something. Doing nothing costs something. And, quite often, doing nothing costs a lot more!”
I love that phrase.
Go here if you are looking for Term Life Insurance
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Comments Off Jun
6
2010
- @LIFE_Foundation agreed, alarming Dr Pepper Canned Spam directed towards a market that will likely eat it up! in reply to LIFE_Foundation #
- Rafael Bettencourt great pitch to end the 8th against the Diamond Backs! #
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Apr
11
2010
- @LeighHoneyVogel what did u think they were??? – check google news results for aspen foreclosures http://resorttownblog.com/5uf we are 1 in reply to LeighHoneyVogel #
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Apr
7
2010
I just caught a real nice brown on the Fork on my first cast. Looks like fishing season is heating up.
If you need Aspen Real Estate or just directions to a good fishing hole give us a call!
McKinley Sales Real Estate 970-927-7676
Apr
3
2010
Within the last 6 months 12 homes in Basalt have sold with a price per sq ft between $ 130 – $ 780. Discounting the one off on Riverside for $780 the per square foot average is $275.
- 101 Stackyard is a 6 bedroom 12 bath short sale that sold recently for $ 130.37 per sq ft in Basalt
Most of these sales were in Basalt proper but this analysis includes the short sale 3 miles up the frying pan on Stackyard. The issue here is days on market several of the recent sold comps were on the market over 500 days. If one takes the perspective of a bank or corporate seller 120 days on market is a long hold time.
Several of these were short sales, REO (bank owned) auctions or otherwise motivated sellers, and it is my belief that there will be more motivated sellers in the Basalt area in the future. Stackyard was on the market for over 600 days. Other distress sales of note particularly include local foreclosure and REO expert Kim McKinley’s sale on two rivers road for $570,000, this was a 2400 Sq ft 3 bedrooms, 3 baths on 6 acres with a 4 car garage that sold to the previous owner for $ 950,000.
Active comps range between 325 and 1000 per sqft, indicating that most sellers in the Basalt market are wildly optimistic in their pricing expectations. McKinley states “We have several foreclosures in Basalt coming to market on within the next 60 to 120 days, the process is lengthy however there will be several on the market by this summer. A new foreclosure coming to market in Emma shortly could be priced to really open some eyes”
With a target hold time of 90 to 120 days on market sold price per square foot on these foreclosures is likely to negatively impact the Basalt Real Estate Market.
A big factor for the Basalt and Carbondale markets is the challenging nature of financing particularly with jumbo loans. With the universe of borrowers shrinking due to tightening guidelines and the dearth of availability of loans over $ 417,000 things don’t look good for either Basalt or Carbondale. It is my prediction that both markets will gradually begin to revolve around what borrowers are required to put down 20% – plus $ 417,000, so I see Basalt, Missouri Heights and Carbondale revolving around the $450,000 to $ 750,000 unless it is an exceptional property or acreage etc.
Markets that will be particularly hard hit (in order of damage) include Aspen Equestrian Estates, Cerise Ranch and Elk Run. There is a recent article in the Wall Street Journal that states virtually anyone who bought between 2004 and 2008 will be in a negative equity situation and I would agree. The bright side is for those with cash or those who could not afford our market previously have an opportunity that may just be a once in a lifetime one!
Drew Kitchell can be reached at 970-379-7777 or by EMAIL his blog is at http://ResortTownBlog.com Kim McKinley can be reached at 970-379-4559 or by EMAIL her website is http://McKinleySalesCO.com
Mar
23
2010
Took a good size brown trout (maybe 16″) on the standard prince nymph.
Cold though.
I am seeing an uptick in foreclosure in the Aspen Real Estate market and we are getting ready to market several to include a couple of high profile listings in Aspen proper.
Many, many foreclosures coming up in the Garfield county markets. pretty rough in Eagle as well concentrated in Gypsum.
It will be interesting and I will keep you posted.
Success with Aspen Life Insurance and Aspen Real Estate as well!
Mar
23
2010
Outside the office today I had a nice take on a size 14 price nymph. He was fairly active and it was a good fight for his size.
Things are going well for us with Aspen Real Estate and our new office is right on the river so I will keep you posted on all the fishing and the Aspen Foreclosures as well!
Life insurance is picking up and I am doing a lot with Advanced Estate Planning in Colorado and Aspen specifically, but go here if you need Term Life.
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