Aspen

One of the upsides to Aspen is that a homeowner, if so inclined, can rent their home to offset the carry. So, although a $2,000,000 purchase price seems hefty, if you can net $60,000 in rental income, it is as though you only paid a million dollars for your property. Once the economy and real estate market turn around, you will have a great cost basis and an opportunity to trade up. In addition, we offer fractional properties available from the $200,000 range up or studio hotel rooms nearby with owner financing starting at $159,000.

Yes! Conforming loans under $750,000 are available at the lowest interest rates we’ve seen in 30+ years-in the 4% to 5% range. Jumbo loans are also available at rates in the 6 to 7% range. Condominium loans, though still available now, are projected to become more difficult to obtain later in the year. Interest rates are expected to rise on all loans later in the year, so now is a great time to buy.

Although the majority of Aspen owners historically thought that we were insulated from the national economy and real estate markets, this is not the case. That being said, however, if the rest of the country is seeing 50 percent devaluations, I would say Aspen is more in the 20 to 30 percent discount range off list price. The one thing to keep in mind is that there is limited property in our world class resort, as most of our county is either Forest Service or BLM land. Therefore, because of supply and demand, we have been able to maintain some level of activity. Historically, Aspen is the last place to be affected by an economic downturn and the first to recover.