The recent stock market woes are beginning to show silver lining when it comes to Aspen/Roaring Fork Valley real estate. Many individuals are feeling desperation to somehow make back some of their Wall Street investment losses, but buying stocks in this environment isn't the way to do it. The bottom is nowhere in sight right now, and this is no time to continue to throw money into companies with intangible values that could continue to have underlying problems with issues related to debt, pensions, demand for durable goods, etc.
On the other hand, while nationwide real estate values at first glance might also seem unstable, the characteristics of Aspen/Roaring Fork Valley Real Estate are different. Despite difficult times, the fact that we continue to show on average between 80-90 % rental occupancy rates tells me individuals continue to place a high value on family enjoyment, recreation amenities, a healthy active lifestyle, and our unique outdoor setting. These are tangibles that will never evaporate.
Aspen/Roaring Fork Real Estate values have certainly declined between 20% - 30% off of the highs. While they could continue to decline further, purchasing a property that has a good location, solid amenities and high quality at these discounted rates is a much safer play than investing in the uncertainty of the stock market. Even if the decline in values continues, a good property will be the first to retain its value and likely increase in value once a recovery begins. It appears that it may be a while before the volatile shifts in stock values will end.
Tom Kilby, Associate Broker
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I would argue that there are going to be opportunities both in the stock market and in Aspen when the markets rebound. But in the meantime you can enjoy Aspen, but what is enjoyable about stock certificates?
Joking aside, it is rare when buyers hold most of the cards in this valley, and if they have been waiting for their opportunity – here it is.
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