What’s the Big Deal: $3.3 million for Aspen Grove Home
Editor’s note: “What’s the Big Deal?” runs Sundays and is based on the most expensive property transaction recorded in Pitkin County through 3 p.m. each Friday.
Date recorded: June 8
Address: 113 Aspen Grove Road, Aspen
Buyer: Karl and Vanessa Adam
Seller: Jill P Fink Trust
Property type: Single-family residential
Year built: 1989
Total heated area: 3,080 square feet
Land: 15,212 square feet
Features: Three bedrooms, three baths
Property tax bill: $5,871.68
• Property sales in Aspen continue to slump this year. That’s according to the city’s most recent tax report issued last week. In May, the city’s collection of real estate transfer taxes were down 53 percent for the affordable-housing segment and 52 percent for the Wheeler Opera House portion.
Through May, the city has collected just over $2 million in real estate transfer taxes for its affordable-housing fund. That’s 35 percent under the city’s budget amount, and more than half of the $4.2 million was brought in during the first five months of 2015.
The Wheeler portion of the tax generated $1.08 million through May, 35 percent under the budgeted amount of $1.665 million. Last year, the Wheeler tax reaped $2.3 million from January through May, according to the city’s Finance Department.
• In his monthly newsletter issued last week, broker Tim Estin noted that the first five months of this year mark the “third-worst performing period” in the past 10 years in the Aspen-Snowmass real estate market.
“Savvy sellers might consider getting ahead of this dismal news and price with a reality-based mentality,” Estin reported. “Buyers may wish to consider the opportunity here to enter the Aspen market finding better values than last year. The summer selling season will let us know.”
• Aspen-based Bluegreen, a landscape architecture and planning studio, recently was named a finalist in the 2016 Architizer A+Awards for its work on the Reiling Dredge Historic Park Master Plan in the Breckenridge area.
The Architizer A+Awards are a global architectural award program with more than 90 categories and over 300 judges.
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Pitkin County administrators are proposing a more than $142 million budget for 2020, which is about $6 million less than this year because of fewer construction projects and capital improvements.