ML - Aspen Peak

Aspen Peak - 2016 - Issue 2 - Winter

Aspen Peak - Niche Media - Aspen living at its peak

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Page 149 of 187

There are some new properties on the market. What are they and who's buying them? DL: There are 11 properties over $9 million under contract right now, nine in the core or West End. All new products—town- homes, new build. All fresh, new mountain contemporary style. CD: Five of those were bought by developers to finish off… WB: There are a lot of group investors buying properties, but we're [also] seeing people taking the reins. It's hard to jump through all the hoops to get approval to do construction. People are willing to pay a premium not to do that. What effect has the building morato- rium in the West End had on the market? The community? WB: Anytime there's limited supply, the demand doesn't fluctuate that much, so you're going to see increasing prices. DL: Moderation in the building cycle rather than on-and-off-again would help the community. How do you feel about the state of downvalley commu- nities at the moment? DL: Snowmass Base Village finally sorting itself out will really help that market go back into an upswing. CD: I'm finding the Basalt area in particu- lar is good for investment properties because the rental market is strong. Are you optimistic about where the Aspen real estate market is heading for 2017? CD: I'm the eternal optimist. I think because the price-per- square-foot has held, it shows how solid our base is. DL: There are some key markets people flock to, and one of them is Aspen. This is one of the most desirable places in the country, [even] globally. Why wouldn't we be okay long-term? . "THERE ARE SOME KEY MARKETS PEOPLE FLOCK TO—ASPEN IS ONE OF THE MOST DESIRABLE PLACES IN THE COUNTRY, EVEN GLOBALLY." —DOUG LEIBINGER CLOCKWISE FROM ABOVE: 2567 Snowmass Creek Road ($4.4 million), represented by Carol Dopkin; Dopkin looks on as Doug Leibinger expounds on the West End building moratorium; "Anytime there's limited supply, you're going to see increasing prices," says Will Burggraf of the ever-expensive West End; the Matsuhisa lunch centered around sashimi. 148 ASPENPEAK-MAGAZINE.COM PHOTOGRAPHY BY MICHAEL LYONS (PROPERTY); ROSS DANIELS (ROUNDTABLE, DISH) SPACE ROUNDTABLE

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