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Sotheby’s International Realty Affiliates LLC today announced that Morris & Fyrwald Sotheby’s International Realty in Aspen and Carbondale, Colo., has combined with Chaffin Light Real Estate in Aspen, Snowmass Village and Basalt, and now will operate as Aspen Snowmass Sotheby’s International Realty.

Aspen Snowmass Sotheby’s International Realty will serve the entire Roaring Fork Valley from Aspen/Snowmass to Glenwood Springs. Mark Overstreet serves as president of the new company and will report to a management board of Ernie Fyrwald, Andrew Light, Craig Morris and Garrett Reuss.

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Real Estate Market Fundamentals - Recognizing The Buyer's Market "Sweet Spot"

Nobody Buys in A Buyers Market!
Why is it that when we are in a Seller's Market, buyers line up and compete with each other to buy with multiple offers trying to out bid each other, but once we are finally in a Buyer's Market, the buyers won't buy? In the Buyer's Market everyone is frozen with fear. They are watching and waiting, and watching and waiting for some signal that we are in the absolute bottom point of the bottom of the market. But guess what, no one rings a bell once we hit the bottom. There is no memo sent out to potential buyers, there is no breaking news forecast, there is no alarm sounding off. So how do buyers know when we are truly at the bottom of the…

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It's still a Buyer's Market but the inventory is going fast.

Real estate sales in Park City surpassed the billion dollar mark for the seventh time in 2011. Year-end statistics from the Park City Board ofREALTORS® show an overall sales dollar volume of $1,077,426,368, up 6% from $1,013,432,555 for 2010. The number of sales continue to trend upward with 1,662 closed sales for 2011, up 17% from the 1,418 closed sales in 2010 and up 32% from the 1,131 sales in 2009.

Inventory levels have decreased since last year, with about 2,300 properties listed for sale compared to about 2,750 in 2010, a 13% decrease. Sales activity remains strong, which can be attributed to the reduced home, condominium and vacant land prices and the positive economic conditions in the…

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We just had another small storm come through over the weekend, and received about a foot of snow in the upper elevations of the Park City ski resorts  I think the storm was a surprise to everyone as we were not expecting much more than an inch or two. As we got up late Sunday morning we looked outside and were surprised to see about 6 inches on the top of the hot tub. We even slowly got ready and once I finally was out to snowblow the driveway I started to realize it could actually be a good day on the mountain. We went up to Park City Mountain Resort and had a great day. The Snowbird snow report had mentioned only 5 inches, and Park City and Deer Valley reports mentioned less. I think much of the snow fell in the couple hours after the reports were made,…

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