Posted on 09/22/2005 8:33:48 AM PDT by day10
ASPEN, Colo. - Sky high real estate prices in this resort city in the mountains have driven yet another business out of town: The Aspen Board of Realtors.
The board was renting an office at the Aspen airport because of the cost of real estate in the city, where even a small house can cost $1 million.
Now, the board has purchased a spacious office in Basalt, 10 miles from Aspen, said Brynne Kristan, executive vice president of the board.
Kristan said the board had hoped to own its own office in Aspen: "We thought we'd be real estate owners ourselves," Kristan said.
Scores of businesses have moved out of town in the past decade because of the high cost of real estate and commercial space.
I guess we could turn this into a Home Sale/Purchase Horror Story thread......
The bubble has already popped in San Francisco, Aspen won't be far behind.
I'd hate to be trapped in an interest only or ARM loan, while the RE values are sliding and the interest rates are climbing.
"Charming commercial property, just minutes from the heart of downtown ASPEN! Location, location, location in this welcoming doublewide abode that offers all the amenities in a suburban setting sure to be appreciated by price savvy clients .... Don't follow the crowd to Basalt next year- lead them now! Call soon, cannot last at this value price ..."
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