A Home In Aspen: An Asset Class That Stands Alone, Uncorrelated With Any Other
You have money to invest and guiding lifestyle objectives: rarely do the two come together and cooperate as effortlessly as they do in Aspen.
An Aspen home is real estate. Doesn'T that correlate with my other real estate investments?
No. If you look at the Aspen market--particularly downtown--Aspen prices are strong, but not bubbly, when real-estate markets are up. At times when the market is down, prices tend to be flat to moderately up. And on the rare occasions when the market does dip, it doesn't last long.
Why? Because Aspen is at the end of a long, narrow valley, bordered by mountain peaks, national forests, and wilderness areas that will never be developed. Land for residential building is very limited, yet for reasons further described below, demand is consistently high. There is not enough raw land for development to support bubbly over-development, so prices don't bubble--they rise along the supply/demand curve.
When real estate markets undergo cyclical downturns, Aspen usually does not follow. It remains uncorrelated because owners who might wish to sell can wait for the price they want and because supply is always short in the face of demand. This demand continues to increase as baby-boomers make choices for alternative life-style locations and as local government officials become increasingly more aggressive in pursuing and piloting growth management. A building permit in downtown Aspen is as valuable as a block of gold.
Why is Aspen Such a Desirable Destination for a Lifestyle Investment Property?
Aspen offers two lifestyles in one. Winters are, of course, renowned for four-mountain skiing, an active social scene, great restaurants, and clubs that give the resort the reputation as the premier ski resort in North America and attract interesting people from all over the world. Aspen is quite different in summer, and some think even better: a picturesque destination to combine a hearty health regimen with social and cultural activity. As you settle in for the summer, you'll find yourself doing more hiking, biking, fishing and golfing. You'll see what the body can do with gradual increases in physical activity, 300 days of sunshine, and a dry but mild climate that offers virtually no humidity and cool, pleasant evenings.
Some buyers simply come to Aspen for the culture and quiet, the opportunity to live a high-quality, low-key life in one of the most beautiful places on earth. Whether you are in Aspen for the outdoor activities or the restorative peace of mind, you can custom-design your day-to-day routine with an extensive cultural calendar highlighting classical and jazz music festivals, art, film and dance. For the more cerebral, a mind-expanding agenda at the Aspen Institute will bring you up close and personal with some of the most provocative thinkers of our time. And, with a home in Aspen, you always have the option to just relax and do nothing, soak up the sun, breathe the fresh, mountain air and walk about town. In Aspen, you can change your life or make your current life infinitely better. It's your life, you choose the style.
Since 9/11, people are looking for a safe haven. They are asking themselves questions like, Where should I move or where should I purchase a second home? Where do I want to raise my children? Aspen answers these questions. The town offers not only a broad spectrum of stimulating cultural activities that compare with any large city, but it is also geographically and emotionally distanced from big-city problems. For those who define lifestyle as a restoration of the spirit, a means to maintain physical health and create distance from worldly concerns, Aspen is the place to be.
How Does Fox Crossing Help Me Achieve My Goals?
Fox Crossing Aspen is the very first cohesive neighborhood in downtown Aspen, with 18 homes surrounding a small park and boasting breathtaking mountain views. Phase I, consisting of the first six homes, sold out quickly. Phase II, with an additional six homes, is coming on the market now.
For your investment strategy, a Fox Crossing home offers a new-construction, single family, high-end home in downtown Aspen--yours with only 10% down, an additional 10% when the roof goes on, and final payment due when the home is finished at a time when the market value has increased to next year's level.
For your lifestyle goals, Fox Crossing includes a prime location, magnificent views, a Charles Cunniffe-designed custom home with exceptional finishes, a proximity to in-town and on-mountain activities and incomparable year-round amenities like valet parking at The Little Nell hotel. Fox Crossing also offers a health membership at either the Maroon Creek Club or the Aspen Club. Between the two, there is no better place for exercise and health management in Aspen. A slopeside & ski-locker at the North of Nell is also included. When you own a Fox Crossing home, you are connected to town and perfectly situated for getting all that Aspen has to offer. We've arranged it all.
What is a Fox Crossing Home?
Each Fox Crossing home is custom built, brand new construction designed by Charles Cunniffe, a world-class, mountain-home architect. Homes range from 4,000 - 6,700 square feet, with four to seven bedrooms, large mountain-view windows, custom landscaping, stone/stucco/timber exterior finishes, fireplaces, an elevator, two-car garage, covered decks and more. The developers and builder have extensive experience in Aspen and top reputations for building the kind of homes that appeal to the most discriminating buyer.