Prior to the silver boom in the 1880’s, Aspen was inhabited by Ute Indians and known as Ute City.
The white man came in search of riches and changed the town into a boom town. Aspen was producing $10M dollars a year in silver in 1890. Jerome Wheeler, whom was married to the daughter of the owner of the Macy’s department store, moved to Aspen and invested heavily in the mines. He later built the Hotel Jerome and the Wheeler Opera House. In the 1890’s Aspen had two major train routes coming into Aspen (One via Glenwood Springs and the other from Leadville). These trains provided transportation for people, mining, and supplies. Before the turn of the century, the United States went off the silver standard, the silver prices plummeted and Aspen mines were shut down almost overnight. A few years later, the prominent local, Jerome Wheeler declared bankruptcy.
People were leaving Aspen in waves during the early 1900’s. Aspen was trying to sustain itself through recreational activities in the summer with the invention of the automobile. Other locals were into ranching and agriculture. Some in Aspen, still thought that mining would come back and be Aspen’s salvation.
In the 1950’s, after World War 2, 10th mountain division members came to Aspen and re-introduced skiing to Aspen. Back in the late 1800’s, miners had used skis to get around in the winter a little bit. Now it would be a recreational activity and become the next boom for Aspen. In the mid 50’s Aspen installed the first chair lift on the top of Aspen Street.
Aspen started becoming known for its skiing in the winter. In the 1920’s, Aspen saw its first automobile in town and it brought more people into Aspen and changed it into a summer recreational area for fishing, camping, and hunting. In the 1950’s, Walter Paepke started the gathering of intellectual conferences in the summer and named it the Aspen Institute. Aspen was a place for the world’s greatest thinkers to gather and get away from everyday life to conquer problems in the world. Even, Albert Einstein visited the Aspen Institute over the years.
Aspen became a great ski town with an abundant amount of recreational activities. In the late 1960’s, the Kennedy family began taking their ski vacations in Aspen. All of a sudden, the rich and famous followed. Aspen was on the map as having the best skiing in the world. In the 1970’s, the powder snow in Aspen became known as Champagne powder ( powder as light as feathers). The powder skiing in Aspen became addicting and soon attracted “the ski bum” to Aspen. Now, land and home prices were soaring in Aspen.
Until the start of 2008, Aspen real estate has appreciated 25 to 30% a year on average for the past 35 years. It had been unbelievable. Aspen and Snowmass are surrounded by National Forest and can not grow like most places in the world. Aspen and Snowmass also have strict building guidelines for height. This keeps supply low and demand high for Aspen and Snowmass Real Estate. Aspen and Snowmass real estate will once again be a great investment in the future. Feel free to contact me by email roget@aspen-snowmass-realestate.com or by phone (970) 319-9719.
Please contact me now for great opportunities in Aspen Real Estate and Snowmass Real Estate. Please also contact me now for more information on rentals in Aspen and Snowmass Village or see my website www.aspen-snowmass-realestate.com .
I CAN HELP YOU BUY, SELL, OR RENT PROPERTIES.
Roget Kuhn Owner/ Broker-Realtor
“An Honest Approach to Real Estate and Rentals”
Aspen Snowmass Real Estate
303 1/2 E. Main St.
Aspen, CO 81611
(970) 319-9719
