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Aspens at Walton Creek finds sweet spot
A high level of interior ifnishes has helped to attract buyers for the Aspens at Walton Creek this summer.
Tom Ross
08-21-2009
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Price reductions and an opening buy-down of mortgage payments have helped the Aspens at Walton Creek townhomes find a little August sweet spot, with three closings and a fourth under contract.

“It’s kind of become a buyer’s market. They were able to be a little more flexible on price and they helped buy down the interest rate for the next three years, which will (temporarily) lower my payments,” recent buyer Brad Luth said.

The Aspens at Walton Creek comprise a pocket neighborhood of 27 three-bedroom, 3.5-bath townhomes in eight buildings just off the lower end of Walton Creek Road. Nine homes, all of them never occupied, are on the market. Several are in the final stages of completion.

Developers Tony Cacioppo, Scot Lucas and John L. Taylor originally entered the city planning process with the project in November 2005. At the time, they hoped to bring the homes to market in the range of $350,000 to $450,000 for 1,500-square-foot units.

As the price of entry-level housing heated up  in 2007 and 2008, the prices rose. Townhomes at The Aspens sold for as much as $585,000 in May 2008, and $652,000 in October 2008.

The trio of sales this summer, which ranged from $402,000 to the $425,000 that Luth paid, are part of a special offering. Remaining developer units range in asking price from $465,000 to $600,000, with the variance attributable to end units and the views they afford, Realtor Lisa Olson said. She has co-listed the remaining units with colleague Beth Bishop of Prudential Steamboat Realty.

The interior finishes at The Aspens make them stand out from older product, and even much of the new product, in the same price range.

“They have solid granite kitchen counters, stainless steel appliances, wood ceiling and stone fireplaces,” Olson said. “They have heated driveways and walkways – you’re getting luxury finishes.”

Luth said he was drawn to details like solid wood doors, high-quality interior trim and maple kitchen cabinets. But the deciding factors include the ability to hop on the free city bus at the corner of Walton Creek Road and Chinook Lane for a five-minute trip to Steamboat Ski Area.

“That’s a big selling point for me,” he said.

Olson said this month’s purchases include two different single professionals — Luth runs his own property management company — and a couple that sought a vacation home. However, she’s convinced the townhomes are ideal for young families, in part because of the ability to leave the neighborhood on its south end and bicycle to Whistler Park without going into heavy traffic. Aspens residents can pedal to the Yampa River Core Trail and travel the U.S. 40 underpass on the way downtown to Howelsen Hill and Bud Werner Memorial Library.

Although the townhomes offer relatively small bedrooms, they have some thoughtful built-in storage and a bathroom for each bedroom.

What really makes them livable for families, Olson said, are the single garages and a separate family room/media room that allows adults and youngsters to have separate spaces.
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