West End on an October Fall Day
I recently wrote an article on how it could be a buyer's market on the West End. Over the past 6 months, the average home sale on the West End sold for $3,273/square foot. Meanwhile the average asking price is $4,226/square foot. What stood out at me during the research was how good of a deal 645 Sneaky Lane is.
645 Sneaky Lane on Aspen's West End (MLS # 194783)
This home was recently re-listed for $10,950,000 or $3,195 a square foot, which falls under the recent sale prices. I wrote about this same home previously after having seen it nearly a year ago during the fall home tour in November. At that time, the asking price was $12,495,000. The recent price drop of $1,545,000 shows the seller's motivated and I feel creates the best value play today of the West.
Why This Sneaky Lane Home is the Best Value
Castle Creek River Frontage of this West End End Home
Not only is this home priced under recent comps, it is a riverfront home fronting Castle Creek. Often times, riverfront homes in Aspen can demand a premium in pricing. When I last saw the home nearly a year ago, there was an actual canoe in the home, which I thought was a clever staging (or lifestyle) play.
Canoe Inside West End Home in Aspen
Growing up in Hawaii and having a passion for water sports, it definitely caught my attention. I'm guessing the drawback thus far is the home was a little dated, built in 1977. There are some plans to redevelop the over 1/2 acres property. However you could also get away with a decent remodel for a fraction of the cost.
Value Play on the River
If this riverfront home on Aspen's West End sounds appealing to you or if you're ever looking to buy or sell on the river in Aspen, I would love to see how I can help. Feel free to contact me for more information.