Greetings Friends!

This may have been one of the longest and most colorful fall seasons we’ve had in years! The golden and orange/red tinged leaves lasted until the last week of October and the temperatures stayed in the 60’s-70’s. The weather was perfect to enjoy the fall glow while biking, hiking, and all outdoor sports. Then, like every year, the temps dropped, and snow threatened around Halloween!

IT IS SNOWING PLUS THE SNOW GUNS ARE ON 24-7!!!

One of my favorite local writers has a weekly column in the Aspen Times-Tony Vagneur. He is from many generations of ranchers in the valley and we became friends at Aspen High School in 1964. His article (click here) reminded me that we had mandatory ski days on Wednesday afternoons, and of course, several of us skipped school on other days to “hit” the mountain!

It is time to get our bodies in shape for skiing! So, I escape to Florida the month before the lifts open to bike and swim every day! That really works my legs, arms, and quads. Do whatever works for you because we are close to opening the slopes!

ASPEN AIRPORT WILL GET NEW RUNWAY AND TERMINAL!!

THIS IS HUGE and passed with local voters 2 to 1. I am always shocked at the locals who want no upgrades nor changes to anything, so this is big. The naysayers really did not believe the FAA would downgrade the airport without us meeting new standards of runway separation. BUT, we won!!! (click here)

CRYSTAL PALACE UPDATE

REMEMBER, the former Crystal Palace on the corner of Hyman and Monarch. The developer has been trying to build the RH Boutique Hotel for several years and recently found that the red brick cigar wall is structurally unstable, so he went back to the Historical Preservation Committee to fix it and “move” the painting. This article (click here) is fairly accurate. It shows us why any construction in Aspen is so expensive and the excessive government oversight especially, on a historic building. I actually know the painter who hopefully is still around-and always wondered why when he repainted this wonderful mural in the last several decades. And also why it was so restrictive…Let’s just get it built and opened- even with the same mural refreshed. I have great respect for the historical structures and that is what keeps our town so special, but structural integrity is also important and can be intelligently incorporated!

REAL ESTATE UPDATE

Probably the biggest “off market” news is the multi sales and purchases by Patrick Dovigi which is really skewing the very top of the market. Early in the season he sold his 25,000 sq ft home on Willoughby Way- the most prestigious street on Red Mountain- to Steve Wynn for $108,000,000. He bought a remodeled home on East Hyman in the East end for about $48,000,000, which he decided to sell “quietly” for $55-$60,000,000 (not sure if that happened), then bought the former Jack Nicolson home in the West End for $58,000,000. Last week a home under 5000 sq feet by the Music Tent in the West End sold to him for $34,500,000 and it needs a full remodel.

So, for anyone looking for an unlisted extremely luxury property, the square footage numbers could push $7-10,000 per sq ft. Prices per square foot continue to rise on a typical 5000 square-foot single-family home at 400 more dollars per foot than two years ago. That is an increase of $2 million. You can see that the number of sales is down in single family homes.

My theory is that there is so much overpriced inventory that it will continue to sit on the market until sellers realize they cannot compare themselves to a brand-new property in the middle of town. However, with the results of the presidential election buyers will probably be more bullish on their business outlook and may surprise us with their purchases.

RESTAURANT UPDATES

The inaugural MICHELIN Guide to Colorado was launched in September 2023. In 2024 it was announced that Bosq Aspen retained its one star; Element 47, Mawa's Kitchen, and Prospect, are recommended restaurants in the guide; and Chris Dunaway of Element 47 was awarded MICHELIN Guide Colorado 2024 Sommelier of the Year.

ZigZag Aspen, the highly anticipated modern French-American bistro, is set to open in Winter 2024, taking over the iconic Mezzaluna space at 624 E Cooper Street. The restaurant will feature the only traditional wood-burning oven left in Aspen, making it a culinary destination for lunch, brunch, après-ski, dinner, and beyond.

8 Reasons Why You Should Book Your Winter Aspen Getaway Now

Fall is here and there’s a chill in the air. It’s that time of year to say goodbye to the warmer months and mountain bikes, and hello to winter boots and skis for the renowned winter in Aspen. The skiing and snowboarding in winter is a definite must-do, but Aspen also offers an array of additional winter activities and events that you don’t want to miss out on. Here are 8 reasons why you should book a winter getaway to Aspen today: (click here)