What Does 2009 Mean For Real Estate...?

It means, building inventories, more realistic Sellers, and Buyers with different motivations.

A group of Buyers looking for a very particular type of property will return to the Aspen market. They will enjoy a large selection of options and make deals at 10% to 15% below the high level in 06/07. Another group of Buyers will be thinking that the prices will drop 30% to 40% as they have seen with other equity investments. There may be a few opportunities for this group in the very high-end market due to a large inventory of unsold houses that where built on speculation and/or due to financial problems not associated with Aspen...Bottom line, real pricing will make 2009 a good time to buy.

- Dale Potvin, Managing Broker