Grit
I was recently reading an article about the traits that define the most successful people. From entrepreneurs and athletes to creators and innovators, one term stood out above all others: grit.
IQ, social intelligence, and academic degrees were not the determining factors of success—quite the opposite, in fact, especially when it comes to academic credentials. Physical attributes and even good looks were similarly irrelevant. The most common and universal characteristic that aligned the world’s most successful people, both today and throughout history, was grit.
Each of us may have our own definition and, more importantly, our own experience with grit. Our limits are tested in different ways, but the core idea remains the same: resilience in the face of adversity.
Elon Musk, speaking to a group of entrepreneurs, shared his perspective on being the founder of a business. His sentiment was that, in general, it's really not all that fun. As a founder, you deal with endless problems, and even when you achieve something, it often just reveals more challenges. The satisfaction of success is fleeting, overshadowed by the next issue to solve.
Recently, my sister gave me an excerpt called The Man in the Arena. It’s about the courage and perseverance it takes to stay in the arena of life while facing criticism from countless spectators on the sidelines. It's a powerful reminder of the grit required to stay committed to your path despite the noise and judgment from others.
Another phrase that often comes up in conversations about success is the idea of "going all in" or giving it your all. Kobe Bryant, the "Black Mamba," had countless thoughts on perseverance, but the core of his philosophy was always about outworking everyone else. It wasn’t just about talent—it was about showing up, doing the work, especially on the days when you don’t feel like it. He was all about grit.
For me, it’s always been about outlining long-term goals and then get going on the incremental work it takes to get there. Take training for a marathon, for example. You don't just hop off the couch and run 26.2 miles. You start with a couple of miles and gradually build endurance.
Within any pursuit, I find it tricky to strike the right balance between persistence and knowing when to pivot, move on, or even quit. It's a delicate intersection of where determination meets perspective and self-awareness. The key, perhaps, is ensuring that you maintain a clear view of the greater goal. When the road gets tough, having that long-term vision can help you decide whether to keep pushing forward or reevaluate your approach.
The same applies to pursuing a real estate transaction. Whether I'm on the buyer's or seller's side, I always try to step back and look at the big picture before diving back into the immediate challenge. Should we keep bidding on this property despite competition and a difficult seller? What’s the ultimate goal here? A property with a specific number of bedrooms, in a particular location, at a certain price point? Is this the only property that fits the bill, or are there other options that meet the criteria better? By refocusing on the primary objective, it becomes easier to make strategic decisions.
Reflecting on the 2024 Aspen & Snowmass Real Estate Market
Real estate in Aspen, Snowmass and throughout the Roaring Fork Valley in 2024 ended with incremental increases across nearly every sector, except for one—the total number or transactions in Aspen dipping slightly. However, when considering both Aspen and Snowmass, the average prices of condos and single-family homes saw steady growth with averages price per square foot being up 14% for condos and 8% for single family homes. The average sales price for a single-family home in Aspen approached $20 million, with annual appreciation nearing 11%. These numbers are very impressive especially considering the surge we saw in property values throughout 2020-2022. While the total number of units sold in 2024 was slightly lower than in 2023, total dollar volume actually increased, driven by the rising average home prices and higher price per square foot.
Snowmass, in particular, saw a more substantial jump in home and condo prices, with the average price per square foot rising from $1,650 to $2,250, more than 35% per foot! Despite a gradual increase in inventory throughout the market, demand for properties in Aspen and Snowmass remains robust, as evidenced by significant value and price gains nearly across the board. While nobody wants to purchase at the top of the market the evidence is clear that we can expect Aspen and the surrounding areas to remain at the forefront of the luxury home market and values to reflect that. Currently there are 95 single family homes listed in Aspen alone, and another 51 condominiums for sale in Aspen, and 18 single family homes and a staggering 144 condominiums in Snowmass Village. Aspen Snowmass Sotheby’s International Realty also boats the largest inventory of Off-Market properties, so if there is something specific you are looking for, let’s discuss those details today.
Are you interested in 1/4 ownership of an Aspen/Snowmass home?
Recently, I have been working with a fractional ownership group called Go Forth Global to identify a few properties in Aspen, Snowmass. For many, truly most, a home or condo in Aspen / Snowmass is simply too expensive. Add in the fact that it’s not a primary home and often only used for a portion of the year, fractional ownership can be a more reasonable approach for a much larger audience. If a fractional ownership of a home in this market, or any other destination around the globe, is of interest, please get in touch today to learn more about Go Forth Global and the opportunity that they offer.
Looking for a great Aspen home?
71 & 73 Smuggler Grove, is a masterful fusion of rustic mountain charm, a modern and clean interior, and smart home technology. This three-story, four bedroom, seven bathroom, stunner boasts an open-concept layout with sweeping views of the Aspen and Smuggler Mountains, a lavish primary suite, and a state-of-the-art three-car garage complete with a hidden auto lift and a secret speak-easy bar. Beyond its aesthetically pleasing exterior, this property is packed with impressive and entertaining features that elevate it to the pinnacle of luxury mountain living. Call or message me today for more information about 71 & 73 Smuggler Grove.
91 Wildcat in Aspen Village listed at $599,000
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Are you determined to make Aspen home, fully or partially, this year? Let’s clearly identify your goals and get to work. Prices might be daunting today and so will be the challenge to find that one perfect property, but grit and determination will get us there. The distractions will always arise but the time is now. Stay gritty.
-Duncan
