Top of the Village Condos has been a favorite in Snowmass Village for owners and renters alike who come for the skiing and want the convenience of skiing in/out but learn to appreciate the gorgeous weather and endless activities that summer in the mountains offers. After 33 years of enjoying this 3-bedroom condo themselves, my clients decided to purchase a lovely house in Snowmass and spend even more summer months to beat the heat of their Texas hometown. They did a complete remodel including all three bathrooms and kitchen and upgraded all of the furnishings that they will sell with the unit. They have never rented their unit and only used it for their family and friends and it shows! It would be considered a premier 3 bedroom rental unit at TOV and a rental pro forma is available should the next owner want to rent it out. The TOV complex offers a front desk pool and hot tub and lovely landscaping throughout the slope-side development. Elevators take guests to the upper floors and all units have an assigned covered carport.
Market Observation: Snowmass is Hot! There is an interesting phenomenon going on in the real estate market this year. While Aspen had the steamiest 2015 market reaching the heights of 2006/2007 prices, Snowmass was steadily picking up. However, as of January ’16, the spigot turned off in Aspen as inventories and prices started to rise and transactions and $ volume dropped as much as 40-50% throughout this calendar year. Meanwhile, Snowmass has seen more transactional activity because buyers have recognized great value with pricing often 30-50% of that in Aspen. As an illustration, 4 out of the 5 properties that I identified in my Snowmass Five Under Five blog post in July have sold or gone under contract! Only one of the Five in Aspen has gone under Contract. Not only are values recognized in Snowmass but some buyers just prefer the quieter, laid-back nature of Snowmass not to mention the best access to skiing in the world.
