Thursday, July 26, 2007

Aspen On The Cheap? Not Really.

I write this from Snowmass Village -- a construction site worthy of Donald Trump. The new Base Village is being built at the base of the lifts and looks WAY larger than it did when I saw the little scale model a few years ago. Indeed, it could be the new Vail. But although condo and home values continue to boom here, the fractional market is surprisingly soft. If you want to invest in a large 2-BR, 4-week deal at the Snowmass Club, for example, they're offered at about $200,000. Devil is in the details -- this is less than they went for about a decade ago, and the upkeep is a whopping $12,000 a year in homeowner dues. Need a broker? You can't do better than the team at BJ Adams and Company, which has been operating in this valley for many years.

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