Short sale properties exist in every price range and every market these days… View West Properties just matched this Starwood home with an investor buyer..  Even in the exclusive Starwood neighborhood of Aspen there is opportunity.

8000 sq. feet. panoramic views of Ajax, Maroon Bells, Buttermilk, Highlands, and beyond. Beautiful new construction that started with an asking price of 12.9 million and is now under contract for less than half that price.

Whether a multi-million dollar single family Aspen home or a modest condo in Aspen’s core, steals await the savvy buyer that’s been waiting to enter the Aspen market!

full description and photos

5 bedroom 5 baths..elevator..hot tub...stone and timber beam new construction. click on photo for all photos and info

$11,000,000 discount and who knows if they’ll take less…

Yes, even in Aspen we are seeing foreclsoures – four have been filed so far in ’09 – certainly a very small number in comparison to many parts of the country but it shows that even the super wealthy can be affected by the economic downturn.

This particular home was featured during the X-Games as the base for Target’s extreme athletes – replete with private chefs – big screen tvs, masseuses and so on – 14,400 square feet on 8.5 acres.

Built as a spec home and originally listed at $26 million, the asking price has already been reduced to $19,5 million. The note that is being foreclosed on is a paltry $4.6 million but there are many more (24) additional liens filed against the property.

It seems most likely that the home will be purchased before the note is foreclosed, probably at a pretty steep discount. They say cash is king and in the current market it seems especially true.

to find this listing, and every other in the Aspen valley, visit the View West Properties website

blog posting courtesy of julian hardaker, re/max mntn west