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.

Posted on Tuesday, May 12th, 2009 at 12:31 pm and is filed under Questions and Answers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.