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September 2014

Found 2 blog entries for September 2014.

According to an article recently published in the Aspen Times, city leaders are setting a date to change the going mitigation rate for residential projects while maintaining affordable housing. Currently, the rate is considered to be “far too low" at $76 per square foot for the developer's fee to the city for building affordable housing.

The anticipated rise in rates is due to the fact that construction costs far more than the tax. In Burligame, Phase II went for about $509 per square foot (of livable area). Main Street’s affordable-housing project went for $350 per square foot to initiate, yet after adding construction costs “the total comes out to $520 per square foot”. Local homeowners are now receiving figures and surveys in order to gauge public

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During an Aspen Business Luncheon in early September, Andrew Ernemann and Lex Tarumianz through some staggering statistics, reflecting Aspen’s increasing market revival. In the entire Aspen and Snowmass surrounding area, the average sale prices are 92% of list prices. Compared to previous years, this number is up from 2009-2010 (at 87%), but down from 2007’s rate of 96%.

 In Aspen, home sales have soared and are up 14%, and add to Aspen’s overall YTD sales which are up 5%. Although condo sales are only up 2%, Condo and Townhome prices are up 20% this year (vary on location).

 Single Family prices are also up 5-6%, but can increase even more based on the neighborhood, as with any property

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