Since moving into the sought-after West End Aspen neighborhood, we’ve caught blurry glimpses of Lance training. He sprints up the mountains we hike and passes at dizzying speeds on road or mountain bike. This summer we watched him win the grueling Leadville 100 mile mountain bike race, break the course record, and finish the last 10 miles on a flat tire.  The point is that you can’t beat the guy out there, but you may be able to best the superhuman at real estate with help from the declining market we’ve watched during the past year and a half.

The neighboring home to Lance’s was built by the same builder, with the same level of gorgeous finishes and is available.  Mr. Armstrong paid $9.175m in October of last year.  Asking price was $9.4million.  The adjacent home is slightly larger (6187sq.feet (575m2)), and was therefore originally priced at $9,995,000.  Both homes are 5bedrooms, 5baths, haves stunning views, and are walking distance to the Music Tent, Aspen Institute, the Roaring Fork river, and to the rest of town.  Some sellers/owners have the means and patience to hold strong at their asking prices, confident in the value of their Aspen investment.  Others feel more distress, may have construction loans, and have reduced prices as quickly as a pebble on independence pass turns into a full-blown rockslide.  They’re not confident that holiday season ’09 or spring season ’10 will bring values back and they want to unload now.  The home next to Lance’s represents the latter, and just happens to have a virtually identical comparable sold to illustrate the market slide of the past eighteen months.  Asking price has slid from nearly 10million to now $6.8m. You can top Lance by purchasing the virtually same gorgeous property, only a bit larger, for about $2-3million dollars less.  You can join him by moving in next door.

So go ahead and revel in your real estate victory.  Beat Lance. But remember that to own in this setting, you both have made solid Aspen real estate investments, you’re both winners, and of course, to gloat is not neighborly.

for more details, map and full photos, email me:  Keith Hartigan -View West Properties, Aspen  970.261.4442

keith.hartigan@gmail.com