Home Buying in Aspen>Question Details

Wink!, Home Buyer in Glenwood Springs, CO

Aspiring investor looking to make first RE investment in Carbondale or Basalt: Trying to buy near the bottom. Thoughts? What about C'dale vs.?

Asked by Wink!, Glenwood Springs, CO Mon Oct 24, 2011


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Charley Podolak’s answer
It is an excellent time to buy in either market. Picking the right property is more important than if it is located in Basalt or Carbondale. There are still many short sale and bank owned properties so there is a selection. Pre-approval is important and actualy required for short or bank sales. Taking advantage of the current interest rates is more important than trying to buy at the bottom. I believe the market is around the bottom but I'm not sure how you really know.

Please let me know how I may be of assistance,

Have a great day!

Charley Podolak
Aspen Snowmass Sotheby's International Realty
1 vote Thank Flag Link Fri Sep 21, 2012
I have a special property on crested butte, 80 acres water rights of the Gunnison river..cabins restaurant large home fishing ,hunting lodge . aswell as permit to build 50 unit hotel.
0 votes Thank Flag Link Tue Jul 14, 2015
search for an existing home with a vacant or oversized lot. try to get that first so that you may be able to do a later LOT SPLIT and sell OFF a portion.
0 votes Thank Flag Link Thu Mar 19, 2015
I could not think of two better markets to be thinking of investing in. Real estate is a great investment for so many reasons and if you able to do so and in the near future, it will be a decision you will not regret. Both markets have bank owned and short sales, and depending if you are buying to live in or rent will determine what you should look at. Various other important factors come into play when purchasing, so working with someone who knows your needs will be very important. Make sure you are pre-approved no matter what so that you know what you should be looking at and can afford. It also makes a great difference when presenting an offer to any seller.

Here is to a successful close in your future!
0 votes Thank Flag Link Tue Oct 25, 2011
It is a great time to look at purchcasing a home in either location. How you want to use the property is what should determine where you want to be. The rental market in Carbondale is stronger than Basalt so if you are looking to rent the home, Carbondale is probably where you should be. There are short sales and great deals in both areas...again, determining how you want to use the property should help you decide where to invest.

It is a GREAT time to do it! If you would like to discuss options, please give me a call! I am with Morris & Fyrwald and you can reach me at 970-418-4132.

Good luck! Robin Gorog
0 votes Thank Flag Link Mon Oct 24, 2011
Hi Wink!

That is a big question you ask...There are so many factors to take in to consideration....cash flow vs. appreciation...short term v. long term....current vs. future interest rates...

In brief, I think you are on the right track in terms of your timing - Now that it is possible to finance a purchase with a payment lower than current rental rates, we can see that the market has swung back to a favorable place for buyers.

I would be happy to talk with you more in detail if you are at that point. I am a local Realtor (970) 309-5169. Please check out my reviews on the link below.

Best wishes,

0 votes Thank Flag Link Mon Oct 24, 2011
Great time for buyers to get in the market in Basalt/Carbondale. My opinion is that the location of your purchase within that area of the Valley is less important than the actual properties you identify themselves. Every neighborhood has some level of distressed/bank-owned properties these days, and depending on the neighborhood and property type there may be multiple opportunities. My recommendation is for you to work with someone that really understands the market, and can help you with sound investment-based decisions.

Andrew Ernemann
BJ Adams & Company
0 votes Thank Flag Link Mon Oct 24, 2011
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