‘It is Going To Be A Actual Shock’: Carrie Wells On Aspen’s Luxurious Crackdown

In these instances, double down — in your expertise, in your data, on you. Be a part of us Aug. 8-10 at Inman Join Las Vegas to lean into the shift and study from one of the best. Get your ticket now for the best price.

Since launching her actual property profession greater than twenty years in the past, Coldwell Banker Mason Morse’s Carrie Wells has constantly been ranked as one of many high brokers in Colorado and throughout the Coldwell Banker community.

In the course of the course of her profession, she’s offered greater than $3.5 billion in actual property, and in 2022 she ranked because the No. 33 agent within the nation and No. 1 in Colorado, in response to RealTrends/The Wall Avenue Journal.

The Aspen-based agent has turn out to be the go-to luxurious skilled in her market through the years and has developed deep ties in the neighborhood by serving on advisory boards for various neighborhood teams, together with the Aspen Music Pageant and Faculty and the Aspen Santa Fe Ballet.

Wells can also be presently within the midst of a sea-change in her dwelling market, the place on June 6, the Community Growth Advisory Committee submitted a report to county commissioners of serious proposed adjustments to land-use laws in Pitkin County. Amongst them was the suggestion that the utmost measurement of a home within the county’s rural areas be diminished from 15,000 sq. toes to eight,750 sq. toes, and inside the county’s city development boundary, right down to 9,250 sq. toes.

As she gears up for summer season and upfront of her look at Inman Connect Las Vegas this August, Wells sat down with Inman to share a few of the issues which might be top-of-mind going into summer season, together with these impending land-use code adjustments. Right here’s what she needed to say, edited for brevity and readability.

Inman: What are the massive issues happening in your market proper now?

Wells: Most likely one of many largest information gadgets is about to hit, and plenty of brokers and owners don’t know that. The county we’re in, in Aspen — Pitkin County — is rewriting the land-use code. We presently are capable of construct as much as 15,000 sq. toes and they’ll decrease that, and we don’t know what the quantity goes to be however rumor is it could possibly be 10,000. [When Inman spoke with Wells, the Community Growth Advisory Committee had not yet submitted its proposed land-use changes to Pitkin County commissioners.]

That’s going to be an actual shock to a number of owners and a number of brokers. We stay in an space, each town of Aspen and Pitkin County, the place development codes are very, very strict. As an example, town of Aspen, they only modified their land-use code in order that there are solely six demolition permits within the metropolis of Aspen per 12 months. We have now traditionally seen wherever from 12 to 19 demo permits.

So each time we flip round, they’re making issues extra restrictive. What’s attention-grabbing about that’s it simply makes costs go up extra. So I feel it’ll make bigger houses extra worthwhile as a result of you might not have the ability to create them [in the future]. So that’s a few of the massive information, what’s happening with zoning and land use that impacts properties which might be already constructed and impacts tasks that haven’t been constructed but.

Very attention-grabbing. Do you assume that may encourage people who find themselves developing their very own houses to attempt to construct taller properties? 

There’s no query that sadly, individuals who have the best to construct extra sq. footage more than likely will leap and get a constructing allow and do this whereas they’ll earlier than the brand new zoning is adopted. In order that they’ll come out with these new laws after which we’ll undergo a strategy of them asserting it to the neighborhood.

There can be discussions, first studying, second studying, after which it is going to be adopted sooner or later. So I feel there can be an enormous quantity of pushback, however I feel now we have to be ready that it’s going to occur and it’s going to pressure people who don’t even need a larger home to construct an even bigger home, as a result of they’ll lose their proper in the event that they don’t.

Wow, that’s positively one thing new you’ll all need to take care of. As we gear up and get nearer to the summer season market, are you seeing an enormous enhance in visitors in Aspen?

Sure. We at all times begin our summer season promoting season in mid-June once we begin off with the Meals & Wine Traditional. Then, it’s adopted by the Aspen Institute Concepts Pageant, which is the tip of June and goes into the primary few days of July. July 4 is a big time to be in Aspen. We have now an enormous parade on the town and everyone appears to need to be right here.

Then, now we have a summer-long, seven-week music competition that runs from the tip of June till the tip of August, and that’s one of many world’s foremost classical music festivals. We have now an artwork museum profit in early August with Artcrush. We have now jazz live shows, each in June and on Labor Day, that herald massive artists.

So culturally, now we have a number of thrilling issues taking place in the summertime, after which in fact, now we have all of the great issues to do for recreation, whether or not it’s mountain climbing, biking, mountain biking, {golfing}, fishing and on and on. That’s why persons are drawn to this space.

Sounds just like the place to be. Because the market has shifted within the final 12 months or so, have you ever seen any adjustments within the forms of patrons coming to Aspen?

All of us noticed the shift out there round June a 12 months in the past presently. And I actually haven’t seen a change in the kind of purchaser who desires to be right here. It will possibly actually be younger billionaires to multi-generational households to individuals who have a number of houses throughout to individuals who need to change their major residence to Aspen, for a lot of causes, whether or not it’s for tax functions, popping out of high-tax states, the terrific faculties now we have right here or simply the protection of residing in Aspen.

That’s nice. Is there something particular you have got deliberate whereas in Vegas for Inman Join, or one thing you’re notably trying ahead to?

I really like seeing my dealer mates from throughout who’re with all completely different manufacturers and love assembly new brokers and growing that community of dealer relationships. In order that’s the principle factor I’m trying ahead to.


I’m very honored to have gained the Inman Golden I Award for High Luxurious Agent final 12 months. That was an enormous honor. I really feel very humbled and grateful about that. Inman is my predominant supply for actual property information — that and The Wall Avenue Journal — and I’m very appreciative of all of the work that you simply guys do holding us all knowledgeable and up-to-date.

We’re completely satisfied to assist.

E-mail Lillian Dickerson