Photo: Shane Aspen Real Estate

Photo: Shane Aspen Real Estate

Ah, Aspen, a SecondShelters.com paradise of stunning ski homes owned by some of the world’s wealthiest and most glamorous travelers who desire the pleasure of a winter retreat in the snow.

This dramatic vacation home was previously owned by newscaster Paula Zahn and real estate magnate Richard Cohen who sold in 2007 for $14.5 million as part of their divorce but bought the property for just $3.8 million in 2000. The transaction was one of the 10 biggest deals in Aspen in 2007.

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Let’s face it: the value of property in places like Aspen just doesn’t tumble. It may take a hit from peak pricing, but honestly, will the average price of an Aspen home ever go back to $50,000, where homes were years before the boom? The average Aspen home is now about $6 million and the community is so loaded with second (or multiple) home owners, many of these beasts sit empty most of the time. That does not create good community: at least one developer is putting together a neighborhood where full time residency is required.

Alas, now may be the best time to buy in Aspen, where one local agent says people with serious money always seem to float. And if money gets tight, many second home couples are selling primary homes in the city and moving to Aspen full time, which could alter the city’s dynamics all over again.

This puppy: a mere $35,750,000.