Friday, February 05, 2016

This Week: Investment Condos, Trophy Estates and Family Houses in Newlands [Fresh Listings, Get 'Em Hot]


54 new listings hit the Boulder real estate market last week. Many were old, expired or withdrawn listings from late year (i.e., refreshed listings). A bunch were in bad locations or egregiously overpriced. 

Don't worry. We sifted the wheat from the chaff. Here's 15 worth seeing this weekend.   

To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.



Boulder 


3135 4th Street | $1,735,000 | More Details
Family friendly layout in highly desirable Newlands. Well maintained and appears to be turn-key. Only one block from open space. Excellent hiking only minutes from the front door.

Buyers typically pay a premium for Newlands because of the proximity to downtown and the classic neighborhood feel.

Due Diligence: Buyers shopping at price points above $1.5MM have more leverage to negotiate concessions and more selection to choose from. If your agent pressures you, get a better Realtor.



 

2895 Heidelberg Drive | $865,000 | More Details
Excellent location, just up the street from Viele Lake and the Rec Center. Great neighbors (we sold a nearby house recently to an awesome family). Best ranked schools in Boulder. Four levels with all three bedrooms on the upper. Updates in kitchen and throughout. Bike to the Southern Sun and Sweet Cow. I'd live here.



 




6507 Baseline Road | $765,000 | More Details
Front row views on a huge lot (0.91 acres). A potentially great perch to construct your trophy home, assuming a deeper setback from Baseline. 

Due Diligence: Traffic noise, construction costs.



 





XXXXX  | $7XX,000
Excellent location in Table Mesa. Needs updates. One of our clients is likely to write an offer on this one so we're redacting information. 



8262 Kincross Drive | $669,000 | More Details
Special and spacious lot backing to protected open space with South facing views. Four bedrooms all on upper. Updated bathroom and kitchen. Desirable Heatherwood neighborhood. Our good friend lived in this house for many years. Lovingly cared for.








2886 Kenyon Circle | $625,000 | More Details
Bi-level in a great spot in Table Mesa. Needs lots of updates but location is solid, house is south facing, and the price is about right. Access to nearby high-quality schools, Viele lake, parks and the South Boulder Rec Center.








 
4602 Tally Ho Trail | $615,000 | More Details
Near Twin Lakes Open Space (currently being debated in Daily Camera). Solid layout. Finished basement, and a remolded bath. Needs mild updating depending on buyer preference. Avery Brewing nearby.









4432 Greenbriar Boulevard | $525,000 | More Details
We saw this with a client earlier this week. Views overlook Shanahan Ranch that will likely be developed with a trophy home sometime in the future. Reasonable alternative to an entry level house in Boulder (less maintenance). Not so great split layout, won't work so well for younger children or buyers seeking to avoid stairs. 







XXXXX Drive | $5XX,X00
Nice ranch with a full basement. Decent schools. Location has under performed Martin Acres and Table Mesa. Kitchen was bizarrely renovated. Street is busy. Doesn't matter, will likely have a bidding war.



3240 Iris Avenue G403 | $257,000 | More Details
Top floor units with good views at Remington Post have made good investments for our clients in the past. Look past the asbestos ceilings to the underground garage, elevator, and proximity to retail. Amenities are a little run down but still functional and there's a heated indoor pool big enough for laps. Easy bike ride to Google offices. 








500 Manhattan Drive C6 | $319,900 | More Details
CU kiddie condo, not in the basement. Price point seems a little steep but there has been massive demand for condos in Boulder (far outstripping supply, and far greater demand than for entry level houses recently).











 
Lafayette 

10627 Empire Road | $978,000 | More Details
A big parcel of land, surrounded by open space. Dated interior. Great spot for a trophy home with an epic backyard. Live it in now, develop it later. 



 



 
1830 Samos Circle 114 | $267,500 | More Details
Nice spot for young professional or older buyers. Retail nearby is OK. Access to Boulder and Denver is great. Price point is affordable. Views to open space are the better spot in this complex. Adjacent lot is private ownership but undeveloped, near the Coal Creek Trail.   

Due Diligence: explore development risk of the adjacent parcel.





 

Longmont 

800 Nelson Park Drive | $365,000 | More Details
Dirt cheap entry into ownership in Boulder County with a fast drive to downtown Boulder (about 20 minutes without traffic.) Nearby open space is decent. Whole Foods and Twin Peaks Shopping is less than 2 miles away (when it opens in December, if it opens)  

Due Diligence: Lots of new units to be constructed nearby. 

Full disclosure: I own an investment property nearby.



 
Investment Opportunities

1647 Arapahoe Avenue | $1,550,000 | More Details
Stands out with a long term lease to the pizza shop and endless customer-students from Boulder High. Multiple residential units diversify the income stream. Redevelop in 10 years to luxury condos suited to adapt to the future Civic Center/City Park. Reasonable cap rate.






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Want to get blog updates via email?  Click HERE.       

Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 


You can also like our Facebook page or follow us on Twitter.

Your referrals are deeply appreciated.  

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend rigorous due diligence and professional advice before buying or selling real estate.    Powered by Realty Unique, LLC.

image:  
Tuğba Yüksel

Thursday, January 28, 2016

Rates Drop, Mortgage Apps Soar

Via Calculated Risk:



Mortgage applications increased 8.8% from one week earlier, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 22, 2016. This week’s results include an adjustment to account for the Martin Luther King holiday. 

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to its lowest level since October 2015, 4.02 percent, from 4.06 percent, with points decreasing to 0.40 from 0.41 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

According to the MBA, the unadjusted purchase index is 22% higher than a year ago.


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Want to get blog updates via email?  Click HERE.       
Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Sunday, January 24, 2016

Table Mesa Prices Jump 11.5% [Analysis This]

by Osman Parvez
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A few weeks ago, I updated my annual analysis for Martin Acres. Now let's take a look at an adjacent neighborhood directly to the west: Table Mesa.  

Remember: negotiation expertise is a competitive advantage for both buyers and sellers. Smart real estate decisions are based on a deep understanding of local market conditions. There is no short-cut to deep analysis nor a replacement for skill. Sorry, there's no app for that.     

Table Mesa is a well located neighborhood with a selection of diverse properties. It has the best rated schools in Boulder. The retail mix at the Table Mesa shopping center continues to improve with the recent addition of Sweet Cow, Lucky's and Snarfs are expected to open sometime in the near future. Table Mesa features several beautiful parks and a popular recreation center, not to mention phenomenal hiking/outdoor recreation and many trail heads. Assuming you're not into beer pong slip'n slide, buyers with families are happy to know that Table Mesa doesn't have a high percentage of CU students.   

This analysis looks at single family houses only. Table Mesa also has many attached dwellings on Shanahan Ridge and Devil's Thumb with some rental-only properties lower down. 



House types are evenly distributed in Table Mesa with 1 story ranches taking a slightly higher share.



As a proportion of sales, $1MM+ listings have increased markedly over the past several years — more than tripling since 2013. Note: higher-end listings were also the most volatile in past real estate cycles. Property selection can counter downside risk and help with capital preservation. Talk to your professional real estate adviser.


Sales volume fell last year. 103 houses traded in 2013. Only 90 in 2015. 

Note: this includes only MLS transactions. In any given year, a small percentage of non-arms length transactions occur off the MLS. To prepare this analysis, I reviewed all recorded sales and found a small number of off-MLS transactions. Some of these were well below market price. I suspect these were mostly family transactions. In a few cases, prices were strangely well above market as well — likely private sales to buyers who erroneously thought they were getting a deal. 

Funny story: when I worked in private equity, "dumb money" was what we called investors who overpaid for deals (in snarky contrast to "smart money"). Off-MLS sales likewise can be treacherous waters. Buyers naively think they are getting a deal, but in most cases, they probably aren't. Sellers are inclined to take private deals only if they are confident they are getting a price higher than they would by listing it publicly.



The median sale price in Table Mesa rose from $600,000 in 2013 to $730,000 in 2015, an increase of 21.6% in two years. 2015 showed a stronger appreciation rate (11.5%) than the previous year (9.1%).


Last year, houses in Table Mesa traded at an average premium of 0.6%. Contrast that with an average negotiated discount of 1.9% in 2013.   

If you're interested in comparing Boulder neighborhoods, note that buyers paid an average of 4.3% over asking for MAI index homes and 3.5% over asking for all properties sold in Martin Ares. The Martin Acres analysis is HERE.




The chart above shows the average negotiated discount (same as the preceding chart, now shown by the red dot) but adds the min/max negotiated discount or premium paid. It illustrates one important point: pricing and Realtor skill are all over the map.   

Even in this strong seller's market, some homes sold at massive discounts because they were mispriced and badly marketed. Other homes sold at substantial premiums, but that doesn't necessarily mean the seller achieved their maximum possible price. Talk to your real estate adviser about marketing strategies that maximize sale price.   

During the last few years, we've seen so many mangled negotiations and poorly handled bidding wars it's become almost the norm. In one notable case, we directly participated in a deal where the listing agent left a large sum on the table. They told our buyer there were no other bidders and didn't call to negotiate when another offer arose. The seller would have netted at least another $100K if the negotiation had been better handled.  The skill of your Realtor is important. 



This last chart shows the percentage of homes that sold over asking in Table Mesa. The trend is unmistakable; nearly half the homes in Table Mesa sold for more than the asking last year, a sharp increase from 2013 and 2014.   

It reminds me of the old George Carlin joke: "Think of how stupid the average person is, and realize half of them are stupider than that."  

Don't get me wrong. Some homes are clearly worth paying a premium. Others are not. One of the jobs of your real estate adviser is to help you understand which homes are worth jumping into a bidding war. Choose your agent carefully.

Note: My last deal in Table Mesa closed in Early January for nearly 3.5% below the asking price and almost 9% below the original list price. We represented the buyer. 


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Want to get blog updates via email?  Click HERE.       
Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Friday, January 22, 2016

A View to Drool Over and Luxury Lock and Leave Downtown [Fresh Listings, Get 'Em Hot]

Yay for new inventory!
Nearly 40 listings hit the Boulder area market this week. We culled the bad locations, overpriced, and otherwise undesirables. Here’s what is worth seeing.

Note: You might notice that nothing over $1MM made the list this week. At higher price points, demand is lower, supply is higher, and we’re far more selective.


To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896
.




Boulder 


385 Hopi Place | $955,000 | More Details
Solid location in Frasier Meadows. Looks like a good layout for entertaining. Interior finishes could use an update. Lot size is generous and should be adequate for future expansion under Compatible Development. Two main floor bedrooms mean this will work for aging Boomers or most young families. Quick access to retail including Erhardt’s Euro Bakery (our latest obsession).  







1155 Canyon Boulevard 201 | $495,000 | More Details
LEED certified, at the center of downtown Boulder, lock and leave. Recently constructed downtown condos are increasingly rare.  If you're looking for a crash pad under $500K in the heart of everything, here's your chance. Typical buyers will be fly-in executives, occasional residents, and Boomers who want to be near their grand kids.  Due diligence:  Don't plan on using Air BnB to offset ownership costs. Thank City Council for new rules that restrict short term rentals. 

 







6084 Chelsea Manor Court | $789,500 | More Details
This neighborhood, just east of Spine is a hidden gem.   The last buyers we sold in this location loved the very fast access to the heart of Boulder and the family friendly neighbors. Due diligence: This one has a view and adjacent open space (sometimes worth 10% to 20% premium to non-view comps) but before you get excited, confirm the location and potential impact of development of the two privately held parcels on Jay Rd.


 



3120 Corona Trl L-302 | $325,000 | More Details
Remington Post has been a great investment for my clients in the past. They usually rent easily due to the location, garage parking, and elevator access. This 3 Bed, 2 Bath is on the more desirable side of the complex (with views). Due diligence: Popcorn ceilings at Remington Post contain asbestos. Check for professional mitigation or budget accordingly.   Windows were also supposed to be replaced by owners throughout the complex a few years ago.  The HOA may require this in the near future. 








Louisville

112 Aline Street | $550,000 | More Details

Some nice updates in this late 60’s ranch plus a full basement. The primary draw is the location. It’s close to open space and a short walk to downtown Louisville.


 

Lafayette 

1000 Milo Circle A | $239,900 | More Details
This 3 Bed, 3 Bath town home is an inexpensive entry into ownership. Commute distance to Boulder and jobs along the tech corridor is manageable. Construction is past the era of lead based paint and asbestos. The location isn’t great, it backs to 287 but that should reduce the number of potential bidders in a probable bidding war. Check your noise tolerance to traffic. If you’ve lost out in past bidding wars, go see this one.   






Longmont 

1713 Sicily Drive | $490,000 | More Details
I like the Renaissance neighborhood so much I bought an investment property here last month. Access to downtown Boulder is only about 5 minutes longer by car than much of South Boulder. Open space and high quality retail is nearby. Whole Foods supposedly opens at the end of the year. One of the 4 Beds in this house is on the main level, highly desirable for aging boomers and families that need a home office. Recent construction typically means it should be energy efficient and well designed. The one big downside is if you have to commute to Denver or points South of Boulder.


Investment Opportunities

6672 Gunpark Drive | $895,000 | More Details 
Interesting office building zoned BR-2. Great location to attract a variety of commercial tenants. Priced for the small investor.



Vacant Lots and Land

1151 Timber Lane | $495,000 | More Details
Nearly 2.5 acres of land with spectacular views overlooking Boulder and a reasonable drive to downtown. Build your trophy dream house. This was under contract earlier but the deal fell through. Here's your chance...









To schedule private showings, including a discussion of valuation and price trends, call Osman at 303.746.6896.
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Want to get blog updates via email?  Click HERE.       

Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 


You can also like our Facebook page or follow us on Twitter.

Your referrals are deeply appreciated.  

--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend rigorous due diligence and professional advice before buying or selling real estate.    Powered by Realty Unique, LLC.   image: Oakley Originals (via CC 2.0)

Tuesday, January 19, 2016

Wonderland Lake and Newlands Homes Exceed $1MM Threshold [Analyze This]

by Osman Parvez
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Last week, one of our blog readers asked how appreciation rates in Martin Acres compared to other Boulder neighborhoods.   

Great question. Take a look at the following chart. 


As it turns out, Martin Acres experienced far higher appreciation last year than many Boulder neighborhoods including Table Mesa, Wonderland Lake, and Newlands. The median sold price for a house in Martin Acres increased 17.4%. Wonderland Lake increased 15%, and Table Mesa 11.5%. Newlands, by comparison, gained a paltry 5.1%. 

Of course, the characteristics of these neighborhoods and the houses within them are quite different. North Boulder neighborhoods have also traditionally traded at premium to South Boulder.  Access to open space, retail, commuting corridors, and school ratings also vary.


The median sale price in Wonderland Lake and Newlands both exceeded the $1MM threshold last year. The typical house in Martin Acres sold for about half that value. 



These neighborhoods differ in another important characteristic: market size. Sales in Table Mesa last year were almost equal to the sales volume of Martin Acres, Wonderland Lake, and Newlands combined

Conclusions
If you're thinking about buying or selling a home, it's important to work with an experienced Realtor who understands market dynamics down to the neighborhood and street level. The most important question sellers ask is what price to list their home.  Buyer want to know how much to offer.  

Waving your hands around and guessing is not the right approach.  

Pricing mistakes are rampant. During the past year in Newlands, for example,  sale prices ranged from 18.9% over asking (3182 5th Street) to 11.5% below asking (3169 8th Street). In Wonderland Lake, it ranged from 18.5% over asking (1110 Poplar) to 11.5% below asking (970 Union). In Table Mesa, it ranged from 17.9% over asking to 24.6% below asking (1775 Deer Valley). These sort of ranges are not indicative of negotiation expertise.  They're indications of pricing and marketing strategy errors.

Smarter real estate decisions are based on deep knowledge of market conditions. Shop Realtors before you shop houses.      
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Want to get blog updates via email?  Click HERE.       
Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Monday, January 11, 2016

Boulder's Martin Acres Jumps 22%

by Osman Parvez
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Looking for an affordable house in Boulder? Wonder where prices are headed in 2016? You should be tracking what's happening in the Martin Acres neighborhood.    

As usual, this isn't the typical Realtor happy talk or hand waving. Let's look at the numbers. In particular, let's focus on the Martin Acres Index (MAI).  



25 houses sold in Martin Acres during the past year. Sale prices ranged from $443,000 (150 S. Lashley) to $749,000 (315 S 42nd Street). The average sale price for basic 3 bedroom, 1 bath ranch homes that matched MAI criteria was $492,500. The average price for all homes that sold during 2015 was $560,728.  
Sold volume dropped 34% from the previous year, driven by low inventory and high buyer demand. Only 4 matched the MAI (i.e. basic ranches). Contrast that with 2003 when 83 homes sold of which 22 matched the MAI.

 
2015 Negotiation Statistics 


more than asking   64%


asking price           20%


less than asking     16%


"Clients often ask if it's worth trying to compete in a bidding war when they are not cash buyers. The answer is yes, absolutely. Only 3 deals in Martin Acres were cash last year (9%). The key is to have an agent who knows how to make your offer stand out from the competition.

Here's a story for you. In the last bidding war I managed (as the listing agent), we dismissed two offers right off the bat due to errors and conflicting information. Only one agent picked up the phone to discuss the needs of the seller and negotiate in person. It was shocking. The winning offer was not cash, but was written by an experienced agent. It was the most complete offer packet with reasonable contingencies. The buyer also chose a local, highly reputable lender." -Osman   


This chart shows the average negotiated discount for houses matching the MAI, going back to 1997. Note that historically, homes sold at a discount to asking price. That changed beginning in 2013 and has continued through this year. The trend is likely to accelerate at least through the first quarter, given early market conditions this year. 

Last year, buyers paid an average of 4.3% over asking for MAI index homes and 3.5% over asking for all properties sold in Martin Ares.     



This chart shows annual appreciation (red) and depreciation (green) for MAI index houses going back to 1997. Basic ranches matching the MAI appreciated 15.5% in 2015, this is on top of a 12.6% increase in 2014. The average selling price of all houses in Martin acres increased a massive 21.6 % in 2015. 



About The Index
The Martin Acres Index (MAI) is comprised of the average sale prices for arms length transactions of basic 3 bedroom, 1 bath ranches in Martin Acres covering 19 years of market activity. Duplicates and other bad data have been removed. This results in a small sample size with uniform houses.   

Why An Index For Martin Acres?
Most homes in Martin Acres were constructed in the mid 1950's. The majority were built as 3 bedroom, 1 bath ranches in the era immediately following world war II. These homes represent the "basic house" in Boulder. They are perfect for expansion potential, are in close proximity to CU and the heart of Boulder, and are adaptable for young professionals, families, and aging boomers alike. They also make great income properties. 




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Want to get blog updates via email?  Click HERE.       
Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Friday, January 08, 2016

Inventory Flood Kicks Off 2016 [Fresh Listings, Get 'Em HOT]

You wanted more houses available for sale? Here it comes. After months of declining inventory, we’re finally starting to see a higher volume of fresh listings. This week...

New Listings: 52

Under Contract: 5

Refreshed: 9

Overpriced: 5

Bad Location or Otherwise Undesirable: 10

Spec: 1

Worth Seeing:  22


To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.



Boulder 


2036 Mesa Drive | $1,300,000 | More Details
Last traded hands in 2013 for $938K. I love this location for its proximity to downtown Boulder but if you’re considering writing an offer, remember that the quality of the view is everything when it comes to valuation - especially in this location. Many of the homes on the higher level streets (Panorama, Alpine, and Balsam) have jaw dropping views but some do not. Buyer Due Diligence: Carefully evaluate comps for view quality and protectability.   If improvements are planned, check for  recorded architectural controls in the title docs. This neighborhood has them.


 




4390 Park Court | $895,000 | More Details
I sold the neighbor their house a few years ago. GREAT location for families, pocket park directly adjacent. Easy drive to Boulder. Great schools. Interior could use a little freshening but it’s in a decent condition. Homes in this little cul-de-sac are rarely available.  Buyer Due Diligence:  Commute times and lack of proximity to retail.

 




 
1031 Portland Place 4 | $470,000 | More Details
Solid investment potential. Downtown Boulder locations have always attracted quality, high paying tenants. Exterior of these units is abysmal but the location overcomes the deficit because most renters don't care about curb appeal.  Buyer Due Diligence:  Limited Parking

 



 


3161 Madison Ave O-202 | $279,900 | More Details
Wimbledon investment unit. Good CU kiddie condo. Decent build quality. Valuation fluctuates by orientation in the unit and proximity to busy roads. Buyer Due Diligence: See our recent post on Wimbledon valuations: How Much Should I Offer?


 
To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.


Louisville

1825 Sweet Clover Lane | $899,900 | More Details

One of several that Markel has on the market in the second phase of North End. Markel build quality has historically been very good. This one has a good layout and a decent spot in the neighborhood. Hecla reservoir has open space walking trails nearby. Buyer Due Diligence: A trip to the retail area of downtown Louisville isn’t a lovely stroll, you’ve got to cross Hwy 42. I’m also not a great fan of the retail that fronts this neighborhood on S. Boulder Road.


 

905 Cypress Lane | $540,000 | More Details
Dated with a split layout, but decent size and a two car garage. Buyer Due Diligence: Check for backyard access to the adjacent open space. It looks like an easement behind the house on Cherrywood, but needs to be confirmed.

 




 
173 W Elm Street | $474,900 | More Details
I represented the sellers and sold this house only a few years ago. The private cul-de sac is very secluded. The openness of the entry and transition to the backyard is an excellent feature. I saw it this morning and the sellers have put in a few updates. Buyer Due Diligence: Check for traffic noise due to the proximity to Pine St. A lot of the square footage (and two bedrooms) are in the basement.







1100 Main Street | $465,000 | More Details
Small 2 bedroom but a terrific downtown Louisville location. These little historic bungalows are becoming a rare find. Buyer Due Diligence: Although the lot is a decent size, this property is historic. Check for restrictions if your plans include expansion. Louisville is far less restrictive than Boulder but it’s definitely a potential hurdle.  There were also historic mining shafts nearby. Also confirm your tolerance for train noise.






1978 Sunnyside Circle | $462,500 | More Details
A decent size ranch with a full basement built in the mid 70’s. This one has had some nice updates. Last sold for $321,000 five years ago. Due Diligence: check for train noise.





 


544 Dahlia Way | $390,000 | More Details
I saw it this morning. Finishes could use a mild refresh (paint, drywall tape cracks, refinished floors) but it’s in pretty good shape. Solid location in Louisville.  Buyer Due Diligence: Only 1 bath. No clear location for 2nd bath to be added (build into the garage?).  Backyard overlooks the cul-de-sac.   Multiple offers are expected.   Deadline is Monday.






To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.


Lafayette 

 
9620 Avocet Lane | $3,250,000 | More Details
Beautiful high-end spec home on 2.3 acres of land in unincorporated Boulder County. Easy drive to City of Boulder. Name brand architect. Lots of potential. Buyer Due Diligence: What looks like open space behind the property is a working farm and potentially subject to future development. Also check noise issue from nearby train tracks. Only 6 homes sold above $3MM last year in Boulder County, most with some discount or concessions over inspection issues. Buyers should choose their real estate adviser carefully, fully evaluate comps, and negotiate accordingly.  

 


408 Lone Eagle Pt | $760,000 | More Details
This house has had minimal updates since it last sold almost 22 years ago. Decent layout and location in the neighborhood. Large lot. Indian Peaks offers an easy commute into Boulder or the highway 36 tech corridor. Buyer Due Diligence: backyard is open and abuts Indian Peaks Trail but can be fully fenced.

 



1130 Milo Circle B | $235,000 | More Details
Decent location for young professionals or families. Lock and leave. Sizeable square footage (basement).

 








To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.

Niwot 

7187 Longview Drive | $1,168,000 | More Details
Many trophy high-end homes were built in the late 1990’s in Niwot. Several are currently on the market (the others are in Somerset). This one should be on your show list if you’re shopping for this type of property. Buyer Due Diligence: Have your real estate advisor walk you through the market history for high end homes in Niwot during the last real estate cycle before writing your offer. It’s an eye opener. At one point during the downturn, there was more than 2 years of inventory available for $1MM+ houses in Niwot. In other words, don’t rush in. For downside risk protection, careful selection is critical at this price point and location. If your Realtor shrugs their shoulders when you ask about the potential of a coming downturn, get a better Realtor.

 


8217 Willow Lane | $840,000 | More Details
Niwot on a more affordable budget. Last sold 17 years ago and appreciated 2.4% annually at the asking price. Location and layout are both good, finishes need updating.








To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.

Broomfield 




15875 Wild Horse Drive | $519,900 | More Details

We sold a nearly identical house about a year ago on Wild Horse Drive to two happy buyers. It’s a perfect neighborhood for active seniors and not far from Boulder. We had lunch with these clients about a month ago and they remain very pleased with their purchase, not just the quality of the house itself, but the improvements in the neighborhood. This one seems under-priced. Worth a look.




Longmont 

920 Neon Forest Circle | $899,900 | More Details
When Prospect was first built, it was a funky and hip but also a bit of a curiosity with selective appeal. A decade later, the trees have matured and the neighborhood has come together nicely. The contemporary architecture has remained attractive, the neighborhood is full of families, and the community events are terrific. This particular house is in a good spot on Neon Forest and has nice finishes and a solid layout. If you’re stretching your budget, consider that this particular property has a carriage house you can rent out to offset your carrying cost (it’s currently leased through May). Buyer Due Diligence: Is Prospect really Longmont’s most desirable neighborhood? I think you should consider Old Town as well, but historic homes are not for everyone.

 

 
1224 Carolina Avenue  | $342,000 | More Details
Near Roosevelt Park on a quiet street in Old Town. Historic bungalow. Not a fan of the layout, with one of the three bedrooms in the basement (non conforming), but it will work for some buyers. Maybe you?  Old Town is very desirable and rapidly improving, pawn shops are giving way to nicer restaurants.  This house last sold in 1988!





221 Cardinal Way | $240,000 | More Details
Blue Mountain Vista is just on the other side of 287 and slightly north from the hip Prospect neighborhood.  Take a walk and you get the amenities at a super affordable price. This small three bed, 2 bath was built in 2010 and includes a 1 car detached garage. At this price, you’d think it was affordable housing. It’s not. 


 


To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.


Investment Opportunities

3480 Hayden Place | $1,235,000 | More Details
Interesting investment play. Multifamily under $2MM is rare in Boulder.   I'm currently conducting due diligence for an investor.  The trick is substantiating the rent. 

 



 



5485 Conestoga Court 104 | $813,900 | More Details
Solid building, mixed use. Former tenant with knowledge of the building tells us there used to be an old gym in the building. The dock and garage door are significant advantages for companies shipping product.





 

1068 S 88 Street A | $375,000 | More Details
Good spot for a medical office with several population centers. 4-5 exam rooms might work for a joint practice.  Built in 1997 so reasonable aesthetics. Stop leasing, own it. 









To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend rigorous due diligence and professional advice before buying or selling real estate.    Powered by Realty Unique, LLC. 


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