Saturday, May 13, 2017

Inventory Rises. Selection Improves. [Fresh Listings, Get' Em Hot]


House shopping in Boulder?

As we roll into May, inventory is clearly higher than last year (about 14% for houses) and there are signals that the market is slowing (read "Better Sell Now.") In the last few years, there has been so little inventory and so much competition, that many buyers threw caution to the wind to get a chance at buying. Guess what? Careful selection and thorough due diligence are back in style. 

This week, about 150 properties hit the market in Boulder County.  I've sifted through the inventory and picked out the very best.  If you're shopping for a home in Boulder, the ones below are worth your time to consider.  As usual, we've also included a discussion of notable sales. 

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Would You Be My Neighbor?
A Note About Due Diligence
At the end of a real estate cycle, the risk of prices falling increases and property selection becomes critical. One of the most important things you should do is meet the neighbors and make sure it's the right location for you and your family. 

Many downtown Boulder neighborhoods have high student density, notably downtown Boulder, Martin Acres, and University Hill. The student rentals very house, to house. Take a walk down the alley, where many residents leave their recycle bins, and take look inside. It can tell you a lot. Remember, the best due diligence is often free. 

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




Sold Listings of Note


2958 6th St | $1.75MM | More Details
A historic Newlands cottage with rustic charm, a stones throw from North Boulder Park. It traded last October for $1.64MM, off market, which highlights the risk for sellers of not going to the open market. It was snatched up the first week it was available when it returned to market. Snooze you lose.  The flipper pocketed $100K. 



2088 Riverside Ln | $1.68MM | More Details 
A large, light-filled house with tasteful updates in a quiet part of North Boulder. Large lot, plenty of bedrooms and baths, plus a three car garage. No view and not walkable to retail. This part of Boulder is characterized by large open lots, no sidewalks, and a rural feel.  It first hit the market in April and quickly went under contract, but the first buyer flaked. The second time was the charm. 



544 Main St | $1.07MM | More Details 
A couple of years ago, Louisville could barely support $1MM+ prices but today, it's a different story. Moderate size homes in good condition, with decent layouts, near historic downtown, have crossed the threshold. This one is an open and functional 2-story family home, 1 block from the best of downtown Louisville. From a valuation perspective, it sold for under $275/T.SQFT which represents a 40 to 50% discount to parts of Boulder, not even in the downtown area.  It sold for $71K over asking and in my opinion, was a bargain.


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

Fresh Listings

Boulder 

10261 Arapahoe Rd | $2.98MM | More Details 
Talk about stunning eye candy. A beautiful farm house originally built in the 1960's and then effectively reconstructed in 2002, it featured four bedrooms and four baths across 4,500 SQFT of nicely finished space. Add in the barn, the 5 acre lot, water rights, plus the proximity to downtown Boulder, and you're looking at an estate quality piece of real estate. If I was shopping for a forever home, this would make my list, which is why I think it should be on yours.  Don't even get me started about all the garage space. Absolutely worth a look. 



835 Utica Ave | $1.19MM | More Details 
A basic four bedroom, four bath, with late 80's construction. The location is the value driver. It's west of Broadway, across from Wonderland Lake. The home has some nice updates, vaulted ceilings and solar. Lock and leave, ready for new buyers. The small lot likely precludes any expansion. Fun fact: Seller is the sister of former US senator Mark Udall. 



5271 Euclid Ave | $1.06MM | More Details 
A large, fully updated ranch with vaulted ceilings. Not much retail nearby, but close to the bike path for easy access to downtown. Large lot, radiant heat, solar, and other updates.  Ranches this large are somewhat rare. 








615 S 40th St | $625K | More Details 
Tri-level in South Boulder, right across from the rapidly improving Table Mesa shopping center. (Sweet Cow, Lucky's, The Suns). Due diligence tips: Check for road noise from Broadway. Also note that drivers often try to cut the corner at Table Mesa and barrel down this street.  



325 31st St | $610K | More Details 
Entry level Martin Acres ranch with vaulted ceilings and some quirky vintage features. Great street, very close to CU and a quick bike ride to downtown. If you're in love with mid-century modern design and want a small, very livable option, this is one to go see.  Note: the 4th bedroom might be non-conforming. This usual floor plan of this model home with the disclosed square footage usually results in three bedrooms. Check the permit history. 





600 Arapahoe Ave #3 | $550K | More Details 
Recently renovated, lock and leave 2 bed condo + study in a solid location. Due diligence: conversion to a three bedroom might be possible, check HOA and building department rules before you base your investment thesis on the conversion. 







4800 Osage Dr 34-C | $405K | More Details 
Two bedroom units in decent locations start around $400K in Boulder.  This one has the right aesthetic with exposed brick, updated kitchen and bright colors. A good alternative is Gold Run, so compare before your write your contract.  You're trading student density for potential road noise from Foothills at rush hour. 





830 20th St 204 | $285K | More Details 
These units make for good CU student condos, right across the street from campus. Interior could use a refresh. Exterior too, to be honest. The design reminds me of an old 70's era motel, but if you can get past that, it's a value play. For a little more money $300+, you can get better units in San Marco North.



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



Lafayette

565 Wild Ridge Ln | $436K | More Details 
Newer finishes, open layout and backs to open space. Not in close proximity to retail but downtown Lafayette isn't too far away.  Two car garage. Construction from this century, which usually translates to energy efficiency and better design.  The open space factor is critical, it creates a sense of spaciousness and isolation from the neighbors. 




Longmont 

912 5th Ave | $699K | More Details 
Normally, a busy avenue isn't your best bet but this one is across from Thompson Park in Old Town. The best of Longmont is right out of your door. Home has some nice updates, it's eye popping when you compare it to what you get in Boulder at this price. A good one to see if you're betting that Longmont will continue to accelerate in value. 


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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.

Thursday, May 11, 2017

Wire Fraud and Realtor Phishing Attacks

by Osman Parvez
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You may have heard that there's a scam out there with bank wires and earnest money.  Here's how the phishing attack starts. 

Your Realtor receives an email that looks like the screenshot below. It looks like an offer on a listing. 



The link leads to a Russian site where your email account will be compromised. Later, in the middle of a deal, the buyers will get an email containing phony wiring instructions that appears to be coming from their Realtor. 

The originating email is coming through a compromised email account at Rochester Institute of Technology (RIT), used to bypass Google's filters.  

This is why if you ever receive wiring instructions from your Realtor, call them immediately. You should always obtain wiring instructions directly from the title company or bank, after calling them directly from a public phone number.  Even better, let the bank obtain wiring instructions directly from title and handle it themselves.  


Red flags: The property address isn't mentioned.  No phone number either.  And why would a real estate broker be using an RIT.edu email address? 

Note:  Phishing is a form of fraud in which a message sender attempts to trick the recipient into divulging important personal information like a password or bank account number, transferring money, or installing malicious software. Usually the sender pretends to be a representative of a legitimate organization

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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. 

Tuesday, May 09, 2017

"Better Sell Now Before Prices Fall" - So Says the Realtor [Analyze This]

by Osman Parvez
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At my Rotary meeting today, a club member mentioned that a Realtor told him house prices are down 2% in Boulder this year.  

I almost choked on my coffee.  

"Um...what are you seeing?" he asked. 


Great question. Let's look at the data to review the past and get out the old crystal ball to talk about the future. We're overdue for a market update. 

Boulder Market Conditions
One of the problems for real estate buyers and sellers is a lack of market transparency. Public information is poor in quality and although presented nicely on websites like Zillow, it's erroneous. Zillow cares about audience size, not accuracy. That's how they make their money. The Boulder market is very small, which also leads to statistical significance errors due to sample size. 

I'm fairly certain the Realtor running around Boulder telling people that prices have fallen 2% is more interested in getting new listings than offering relevant, actionable information on market conditions. In other words, his statistics have one clear beneficiary: himself. People respond to fear. That's why click-bait exists. 

Want the facts? Take a look at the table below. This is what is really happening:



Sales volume for typical houses (see below for a description) is down 7.7% from the first quarter of last year. The sales volume drop isn't particularly meaningful. The market is still constrained by very little inventory (less than 2 months of supply, 6 months is considered normal). Meanwhile, the average sale price was $867K this year, a drop of 0.9%. Sadly, with such a small sample size and a wide range in prices (standard deviation of over $450K!), the change in average price also doesn't mean much.  


If you're looking for a better statistic to measure price changes, consider finished and total $/SQFT. This measure climbed 9.9% and 9.2%, on average, respectively. The median increased 6.3% and 8.1%. It's still far from perfect, but it's a better measure for price changes. 

Is the market slowing? Yes, there are legitimate signs of the beginning of a slow-down but average sold price is not one of them. Better measures in market performance: the % of asking obtained by sellers dropped from 101% to 98%, on average. Days on market also climbed from an average of 75.9 to 78.4 (or median of 53 to 58, if you prefer). That's still very fast, by the way, but it's definitely a signal.   

Does the slowing market impact all price ranges and locations? Of course not. Some neighborhoods, price ranges, and property types have almost no inventory and a line of buyers waiting. Ask anyone who has tried to buy an entry-level house lately.  Meanwhile, some higher-end sellers overshot and are now making big price reductions, lending the appearance of the market dropping as a whole.  

Want proof? Here's a list of Boulder homes with +$100K price cuts. Only two are under contract after slashing their prices. Note the price range and locations of the homes in that link. Let me know if you see a pattern. 

Calling the Top
My prediction is that the market will soon be nearing the end of a cycle. The industry is cyclical, after all, and this has been one of the longest expansions in modern history. The bottom was 8 years ago! 

At the same time, the Colorado job market is strong and we are now at what economists consider full employment. Strong job market, net positive immigration, and exceptionally low inventory are a recipe for stable and increasing prices - not a broad sell off. The state demographer is forecasting that Boulder County will add another 6,656 households in the next 3 years. We almost certainly won't be adding that many housing units. Where do you think all those people will live? Hint: not in the City of Boulder.  

As I've written many times, nobody has a crystal ball but I'll share my prediction: As the cycle ends, I expect most of the market will skid sideways and begin to track inflation once again. Short of a Black Swan event, only prices in weaker locations will see major price declines, and even then, it will be short lived. 

If you're buying in this market and you're concerned with short term capital preservation, I recommend choosing carefully. Focus on safe assets, not risky ones. Only pay a premium if you see yourself occupying the property for 5 years or longer. Choose real estate that is in high demand, at price points where the buyer or tenant pool is deep. Only pick locations that have a long track record of liquidity. 

What house types, price points, and locations are safe? Talk to your real state professional

If you own property in compromised locations, on busy streets or that is otherwise less than optimal, now is a good time to consider selling (there's a reason that so many houses have suddenly hit the market on Moorhead). Only sell if you have alternative investments that will perform better. It's not only the real estate market that is nearing the end of a cycle. Equity prices have reached historic levels, not through fundamentals but - as one of my friends pointed out at happy hour yesterday - via multiple expansion.  That's not a recipe for sustainability.

About the data: 
No proper analysis is complete without an understanding of the underlying data. The table above is based on the following data set. 

- City of Boulder proper, no Gunbarrel or mountains, as defined by an arbitrary map drawn by yours truly. I don't care whether it's annexed or not, neither do most buyers. 

- IRES data only, no duplicates from ReColorado. The MLS turf war is still ongoing. This means a small portion of sales data is missing.
  
- Affordable housing excluded, naturally. 

- 3 bedroom plus properties only. No unicorns.
 

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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. 

Monday, May 08, 2017

How to Protest Your Boulder Property Tax Assessment

by Osman Parvez
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Property tax assessments have arrived and many are shocked at their new home values. I even got a few phone calls over the weekend from clients looking for advice on how to protest.  

If you're a past or current client, don't hesitate to reach out to me.  I'm happy to provide appropriate comparable sales and guidance.

A few years ago, I asked the Boulder County tax assessor to present at the Boulder Real Estate Meetup.  If you have some time, this video will help you understand your tax assessment and how to best protest the value. 




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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. 

Saturday, May 06, 2017

A View to Die For [Fresh Listings, Get 'Em Hot]


This week: Several trophy homes and a number of investment properties are fresh on the Boulder real estate market. A few are even worth seeing. Just remember that when I say "worth seeing," it doesn't mean I think they're worth buying.  

Remember: It's not always a seller's market. Price range, location, design, and potential all influence market value. Intelligent real estate decisions are based on deep market knowledge. There is no substitute. Check out the notable sales for examples of the hefty discounts that are possible on the higher end. 




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




Sold Listings of Note


5225 Niwot Rd | $5.5MM | More Details 
Originally listed at $6.5MM in September, the property was on the market for 6 months before the seller a deal was negotiated. It features 20 acres total, including 10 acres of sub-irrigated pasture. The main house has a perfect south-west orientation, private, and luxurious. Deal note:  If you're asking for a million dollar discount, better bring cash.  This buyer did. 



441 Arapahoe Ave | $3.5MM | More Details 
A modern, turn-key home in a terrific location, backing to Boulder Creek. The interesting thing about this deal is that the seller, the CEO of Crestone Capital, didn't own it for long. He acquired it for $3.25MM only last June. Luckily the market moved up enough to give him a break. Selling in less than a year is usually a money losing proposition. With typical transaction costs, it was likely a break even. Due diligence: This location has a lot of transients wandering and camping on the far side of the creek (i.e. your back yard). Thanks City Council! 



755 Jonquil Pl | $2.66MM | More Details 
Another unique and modern home, located in Newlands on a quiet street off Juniper. Big house, small yard.  It first listed at $3.5MM last July and the seller started cutting the price three weeks later.  A whopping eight months and six price reductions later, they found a buyer.  Take home lesson: Price it right the first time if you want to maximize the sale price.


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

Fresh Listings
Here's what's worth seeing in Boulder real estate.
Boulder 

3265 Lafayette Dr | $4.5MM | More Details 
A grand and elegant home, worthy of its perch on one of the most unique streets in Boulder. South Boulder schools outperform and open space access isn't far away. Lots of eye candy in the listing photos (click above).  Check lot lines and with city to make sure open space to the north is protected. 


640 Hawthorn Ave | $2.3MM | More Details 
A modern farmhouse style home with cozy finishes. The basement turf won't be to everyone's liking. Bring your putter to the showing.  Due diligence: Hawthorn gets busy during nearby Foothill Elementary pick up and drop off times. 



2828 4th St | $1.8MM | More Details 
A 4 bed, 4 bath Newlands home, facing the foothills. Excellent access to trails and that iconic, tree lined street that you've always wanted. 


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


450 S 40th St | $745K | More Details 
Nicely updated Martin Acres ranch with a finished basement. Basement does not have egress windows and road noise from Table Mesa will be noticeable. Recent similar sales went for $760K.  Evaluate the comps carefully before you write the offer. 




1265 Bear Mtn Dr C | $500K | More Details 
A bright townhouse in a quiet part of SoBo. The bloody red kitchen may not appeal to everyone, luckily new paint is an easy fix! Due diligence: Check HOA for a reserve study.  Also, units that back to open space sell a premium. Be sure to carefully analyze the comps before submitting your offer. 



Louisville 

635 W Lilac Ct | $630K | More Details 
Here's an updated 2 story home close to open space. Fairly traditional layout. It's a decent bike ride, long walk or short drive to get to downtown Louisville. 



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

Longmont 

1008 5th Ave | $610K | More Details 
A buttoned up, cute historic home in short walking distance to the best of Longmont. The street's a little busy but this is a good price for the neighborhood. Word on the street is that Old Town is Mapleton Hill twenty years ago.  Get in while you still can. 




4238 San Marco Dr | $595K | More Details
I'm a strong believer in the investment thesis for the Renaissance neighborhood, and I personally own an income property here. This home is nicely updated and boasts an open layout.  This is a family friendly house in a good location. 




600 Baker St | $474K | More Details 
A historic gem on a corner lot.  It's a little out of the core area of Old Town, but at this price point, it's very attractive. Don't expect it to last long.



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

8022 Countryside Pk 239 | $325K | More Details
Roomy and open end unit Niwot town home, only a short drive in Boulder.  This particular unit faces the open space, giving it a sense of spaciousness. I saw it with a buyer earlier this week and would personally invest here. Due diligence: No dogs allowed, deal killer for me. 





Investment Opportunities 



3009 Madison Ave M-314 | $235K | More Details 
We have sold several of these over the years. They make for solid investments as student rentals. Single story unit means likely noise from surrounding tenants.  Be sure to check out the other 1 bedroom and 2 bedroom units currently on the market at Wimbledon.




Image: Cindy Tang

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Ready to buy or sell?  Click HERE to schedule an appointment or call 303.746.6896.

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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.

Monday, May 01, 2017

And Then The House Exploded [Due Diligence]

by Osman Parvez
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Buying a house?  It's not just air quality from fracking that you should be worried about.  

First, let's catch up on the facts: A house exploded in Firestone a couple of weeks ago, killing two people. In response, Andarko shut down 3,000 wells. Meanwhile, Boulder County's oil and gas inspector admits that 40% of the wells tested are leaking

To say there is renewed interest in the potential dangers of oil and gas infrastructure is an understatement. I encourage all of my buyers to conduct complete and thorough due diligence. It's why we offer our clients a detailed checklist of over 20 areas to consider. One of those areas includes oil and gas concerns.  

Where are the oil and gas wells?  Here's a new map provided by the Denver Post.  Just plug in your address and go. 

Colorado Oil and Gas Map

Think Boulder is immune? Wrong. The map shows multiple old, plugged wells within the city limits including one directly across from Creekside Elementary in Martin Acres. As you head north and east into the county, the number of inactive and active wells starts to increase dramatically. If you live in Erie or Lafayette, odds are strong that you have an old oil and gas well (or maybe even an actively producing one) nearby. 

Remember:  Environmental concerns typically move in one direction.  Radon, Mold, Lead Paint, EMF, and Asbestos are common issues with property.  Most, but not all can be mitigated at a reasonable cost. Just because the property is impacted doesn't mean it's a bad deal, but it's important for buyers to understand the issue before they purchase the property. 

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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. 

Saturday, April 29, 2017

Mountain Beauties, Hipster Town Homes, and More [Fresh Listings, Get 'Em Hot]


Sure, it's snowing. 

If you're a serious buyer, you can't let the weather stop you. Almost 150 listings hit the market this week. The spring Boulder real estate season is well underway. Put on your puffy, slip on your Uggs and let's go see some houses. 

We sifted through this week's new arrivals and culled the bad locations, the refreshed old listings, and overpriced properties. The 10 listings below are the most compelling properties to hit the market; prime locations, intelligent designs, the best of Boulder real estate. 



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



Before we begin, let's review notable sales. 


Sold Listings of Note


470 Japonica Way | $1.79MM | More Details 
After six months on market and several price reductions, 470 Japonica closed for $1.79MM. I took buyers to see it and it was a great example for excellent design when renovating a mid 60’s ranch. The home also sets the standard for a great house (without a view) in this pocket neighborhood, slightly north of Newlands and south of Wonderland Lake. 
Note: If you're analyzing the comps, don't forget the location is a cul-de-sac, very private, and adds an additional premium to the already desirable location. 




531 Maxwell Ave | $1.2MM | More Details 
If you’re in the market for a lot in the historic district, you’re likely scraping off an existing house. Mid 50’s ranches are a favorite target, but complete due diligence requires a visit to the planning department. Smart sellers will even file for the demolition permit. Lower risk = higher prices. This was a decent size lot in an iconic Boulder location. Listed at $980K, it sold for $1.2MM (cash). 


450 S 41st St | $765K | More Details 
This sale sets a new foundation for basic ranch prices in Martin Acres. The house is a 5 bedroom, 3 bath with 2,800 SQFT. Basement finishes were acceptable but dated. The kitchen, two of the bathrooms, and windows were updated. It has a larger main level floor plan than the typical 1000-1200 SQFT ranch you’ll find in the neighborhood. Note that both baths on the upper level are full. West facing with potential views if the new owner pops the top, but also subject to traffic noise from Table Mesa. It sold for $765,000, 3.5% over asking. The seller paid $5,000 towards the buyers’ closing costs, the net price was $760,000.  

Full disclosure: I bought an investment property on this street last year with similar potential.  It’s a location that is a short walk to retail. The bus stop is around the corner, bike paths are nearby, and it’s a quick bike ride to CU.  On a bicycle, I can ride to downtown Boulder in ~15 minutes.   



Fresh Listings


Boulder 

2320 Panorama Ave | $1.49MM | More Details 
A smaller house with a good layout in a very desirable location. The larger lot and mid 50’s construction hints at improvement potential. The tricky part of analyzing the comps is that the view perches on this street are hit/miss. Some have spectacular, jaw dropping views. I know, I’ve sold them to my buyers. Others have no view, right next door. Analysis of the listing photos isn’t enough. To understand the valuation, you need to know the houses on the street. 

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



5545 Flagstaff Rd | $1.25MM | More Details 
If you’re looking for a mountain trophy, this one should make your cut. A decent size home with a main floor master, not too large, adequate for most buyers. Excellent views and a compelling custom design. 10+ acres and a 3 car garage round out the picture. Adjacent to open space, not too far from town (although you’ll want 4WD and snow tires). 




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



3288 Saint Vincent Pl $1.1MM | More Details 
A nice, larger house option in Four Mile Creek. Updated kitchen, all 4 bedrooms on the main level. Finished basement.  





4091 Kingstown Pl | $865K | More Details 
A beautiful three bedroom, three bath house also in Four Mile Creek. This one has updated bathrooms and a gorgeous remodeled kitchen. South facing, quiet street. All bedrooms on the upper level. The basement has a full bath, otherwise unfinished, offering potential for more bedrooms and a family room in the future. Seller pre-inspected, buy with confidence.  Full disclosure: This is my listing. 

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



840 Pearl St C | $850K | More Details 
Check out the location and updates in this 2 bedroom, 2 bath condo. Reasonable HOA, one underground parking space, and an exclusive location. Don’t wait to go see it. I’ll be shocked it if makes it through the weekend. 






2336 Spruce St D | $785,000 | More Details 
Another nicely updated townhome blocks from downtown.  A little larger than 840 Pearl, also a one car garage, but not as solid of a location. See both before writing offers.


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



2905 Shadow Creek | $405,000 | More Details 
Gold Run condos have been good investments over the years. They’re close to CU, on the bike path, and a short distance from the 29th Street shopping complex. The fitness facility is acceptable, with a weight room, pool, and other amenities. 

Before you write an offer, analyze the comps. Valuation at Gold Run is dependent on whether units are in elevator buildings (or not) and have garage spaces. Units overlooking Boulder Creek and on top floors typically sell for a premium. 

Due diligence: Gold Run has a history of fire. Give the HOA a thorough review, check not just for a reserve study, but also for special assessments related to a possible future sprinkler system. Owner occupancy is also below 50%, impacting mortgage availability and liquidity.  


Lafayette

406 E Chester | $575,000 | More Details 
A brand new four bedroom, four bath town home a few blocks from the historic downtown area at an affordable price. If you’re a believer that Lafayette is the next Louisville, go see it. With a 2 car garage and 2,800 finished square feet, this is a nice lifestyle option for a downsizing owner.  

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

Longmont 

415 Bowen | $697,000 | More Details
A remodeled historic home in Old Town with 4 bedrooms, 2 baths, and a 1 car detached garage (with heated studio space). If you’re in the market in Old Town, you should see everything that hits the market. There just isn’t much available and this one looks like it's in better condition than most. 



Ward

22 Crockett | $450,000 | More Details
If you want to live in the mountains, here's a reasonably sized 3 bed, 2 bathroom for the price of Boulder Condo. Built in the late 90’s on about an acre of land. Over sized 2 car garage is a plus. The 3rd bedroom could also be a den on the top floor. 

p.s. If you’re shopping in Ward, Ned, or Jamestown - give me a call. We have an unlisted property that might work for you. 


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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.