Friday, April 17, 2015

This Week's Fresh Listings [Get 'Em Hot]

by Osman Parvez

We scouted far and wide . It was a stretch to come up with listings worth seeing this week.   

We filtered out the refreshed listings.   We culled the flips, undesirable locations, and the bad layouts.  If sellers disclosed serious issues or the asking price was egregiously greedy - we cut it. 

31 properties hit the market.  6 are already under contract.    10 are actually worth seeing.    Are you ready to see some houses?

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



Single Family Homes


740 Mohawk Drive | $524,900 | More Details
A nice family friendly house with some updates. Mohawk drive is a little busy but access to retail, bike paths, and parks is superb. Due diligence tip: Similar vintage homes on the street have asbestos popcorn ceilings. From the photos, it looks like the ceilings were scraped. We strongly recommend including an asbestos test on inspection and careful review due diligence documents. 




5381 Oak Tree Court | $625,000 | More Details
Nicely updated inside and you could not build it for the asking price today.  The downside is that it backs to Lookout but there are high fences in the backyard and a buffer of land.   The house also faces south and on a cul-de-sac, an acceptable tradeoff.   Absolutely worth seeing.
 




2432 Bluff Street | $749,000 | More Details
We've already seen this one with our clients.  Since they're passing on it,  we’ll give you the skinny.  The location and the house itself are fine.  It has nice tall ceilings, a great indoor/outdoor transition, and decent updates.   I’m not sure why the owner painted the large skylight in the stairwell and yes, there’s a Breaking Bad-esque RV visible from the master.  The big issue is that alley access isn’t for everyone. The listing photo is from the back. 




1416 Elder Avenue | $889,000 | More Details
A long flag lot means the house is set far back from Elder. You’ve got a giant front yard and are comfortably nestled far from the street.   4 bedrooms on the main and one above the garage is a workable layout for many potential buyers.  The quality of execution on the finishes and the level of privacy is unclear from the photos, so better see this one in person.   





2035 4th Street | $895,000 | More Details
A spectacular location.   You’ve got easy access to downtown and open space.   It’s a decent size lot.   That's the good, here's the bad.   It's a historic house with professionally mitigated water damage from a tenant who turned off the heat during winter.  The house is also on the flood plain, so there are low coverage allowances for flood insurance. If you’re a cash buyer who loves remodeling historic homes, let’s go see this one.   The lack of interior photos tells you something.





1395 Kalmia Avenue | $1,179,000 | More Details
A good choice for a family house on a large lot in Nobo.  The listing says this was newly remodeled, but I think it could still use a few updates.   Mid 90’s construction usually means decent construction quality and efficiency, and low chance of environmental issues.  $1.2 for this location and this type of house seems about right.   After closing, I can see us sipping lemonade on the front porch.  Worth a look.






Attached Dwellings

3161 Madison Avenue N-301 | $149,900 | More Details

Here’s a good option if you’re looking for a CU student condo. Very close to the University, HOA has some amenities. Includes an underground parking spot.    If you want junior to live away from the beer pong contests on the Hill, this is a good option.



 

4870 Twin Lakes Road 9 | $249,900 | More Details
Easy commute to Boulder, mid 90’s construction, a few nearby trails, and Avery.   With views from the patio and a reasonable entry cost, this unit will likely go quickly.    Did I mention Avery?


 





3535 28th Street #303 | $275,000 | More Details
See this back to back with the Twin Lakes unit.  It’s older, it’s smaller, it doesn’t have the views.  The HOA is about $100 more per month but the purchase price is similar.  Twin Lakes is likely more livable, this is arguably a better investment. It's already Smart Regs certified and you can rent it for much more than the HOA difference.  Plus it's bike commuting distance to downtown. 
 






Investment Properties

1806 17th Street | $600,000 | More Details
The location is near downtown but very busy.  With so few income properties available, we’re including this one.   It’s true RH-2 is high density residential, but due diligence should include a thorough understanding of what is and is not possible with a structure that was originally built 115 years ago.  Buy with eyes wide open. 
 








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Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
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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.   image:  Don Graham

Tuesday, April 14, 2015

Boulder Inventory Update [Analyze This]

by Osman Parvez

It's time for a quick look at inventory trends in Boulder real estate. 


Since the start of the year, inventory in Boulder has risen to 177 houses (79% gain) and 156 for condos and town homes (50% gain). Our buyers are finally seeing a more reasonable selection but inventory remains well below the long term average. 



Percentage of inventory under contact gives you a better picture of what it's like to be a buyer in Boulder. In a balanced market, about 15% of available real estate inventory is under contract. Today's market is running at a 3-4x multiple of normal.   

In an normal market, percentage under contract bottoms during winter and peak occurs in mid summer. This year, we saw an absorption spike in early to mid February. Since that time, inventory under contract has remained in the mid 50% range for houses and low to mid 60% range for town homes and condos. 

Believe it or not, for buyers this is good news. The relative consistency of % under contract suggests that many buyers responded to tight inventory and low mortgage rates by getting into the market early. In other words, it may not get much more competitive from now through the peak in June or July.   

For market participants, our advice remains the same. Buyers should exercise patience. Only enter bidding wars for new listings you wish to own for the long haul. Homes in poor locations, with dysfunctional layouts, with serious repair issues, or which don't meet your long term needs should be avoided. In this market, Sellers have safety in testing a high price well ahead of the comps, but should carefully manage low appraisal risk when negotiating multiple offers.   It's also important to keep in mind that if your listing remains on market for several weeks (or months!), the majority of buyers will conclude that something is wrong with it.   

Buyers, don't ignore old inventory. You may find some hidden gems that have been on the market for more than 30 days. Seasoned sellers are more open to negotiation. Remember, 40% of sales last month were for LESS than asking.   See our post March Madness for more details.

In our negotiations, we're seeing a huge range of professionalism and skill from both buyers and sellers agents. In this strong sellers' market, the right Realtor can make the difference between getting the house or being left in the dust from the bidding war. For sellers, it can also add up to tens of thousands of dollars left at the table. In one negotiation we were directly involved with, the listing agent could have gotten $100K more for their seller, but they never called other bidders to see if they would up the ante. It boggles the mind.

Get the facts. Make a smarter real estate decision.   




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

Friday, April 10, 2015

The Wheat From the Chaff [Fresh Listings, Get 'Em Hot]

43 new listings hit the Boulder real estate market this week.  We sifted our way through them.   Here's 10 worth seeing. 

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








Single Family Homes


1723 Canyon Boulevard | $599,900 | More Details 
It's currently an acupuncture office with some nice touches. It feels rustic, and we like how the yard space seems private and away from the street. 










1350 Riverside Avenue | $615,000 | More Details
This is a lovely family home with a great location across Broadway and right by Wonderland Lake! 














3115 Broadway Street | $625,000 | More Details
A modern bungalow near Newlands, one of the most desirable neighborhoods in Boulder. 











1446 Yaupon Circle | $689,000 | More Details
We took our clients to see this one already.  The ceilings are tall, the layout is intelligent, Spruce Street Confections is dangerously nearby, and you get the benefit of the park directly across the street.   Why mow? Let the city pick up the tab.    Did I mention no HOA?









4730 Ricara Drive | $825,000 | More Details
Here's a quiet neighborhood home with nice updates both in and out and extremely close access to good schools and US 36. 










1725 Garland Lane | $850,000 | More Details

We toured this home yesterday we were impressed. It's at the end of a quiet street and quite literally a stones throw from Growing Gardens Community plots. Remodeled in 2007, and very few improvements need to be made. There is however a slightly "robot like" house staring over the fence in the back yard. 








Attached Dwellings

1111 Maxwell Avenue 229 | $300,000 | More Details

A nice condo in the Mapleton Hill area. This location is great because you're close to hiking trails, Ideal market and all of downtown. 










825 18th Street 2 | $475,000 | More Details
This house on the hill has charm and is in nice shape. It would be a great investment for a high-end student rental.  We'll be seeing it tomorrow with clients. 









2400 Broadway Street 1 | $799,000 | More Details
This is the definition of turn key. It's very modern and built in 2007. We like it because it's clean, simple, and right off Broadway. 











Investment Properties

1727 Mapleton Avenue | $1,689,000 | More Details
A legal duplex on Mapleton that would make a great investment property. This location is proven to gain huge value and will always be one of the most charming and special streets in Boulder. You can rent the front unit alone for nearly 4K a month! 





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Like this analysis?    Subscribe to our client research report.     
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.
image: Hans Splinter

Monday, April 06, 2015

March Madness [Analyze This]

by Osman Parvez


We posted our analysis of recent bidding wars last week in The Over-Under in Boulder Real Estate. Here's a comparison to last year. 




The percentage of properties which sold for more than asking in March expanded from 20% to 34% of sales, year over year. Sales volume dropped 10%.  

Keep in mind that this analysis is for the overall market for residential property in Boulder, which includes attached and detached dwellings. 

Takeaways 
No surprise, the market is tight. Inventory in Boulder is tracking about 70% below average, mortgage rates are still near record lows, and the economy continues to improve. 2015 is an even stronger seller's market than last year. 

Sellers
In this market, it's tempting to FSBO or find a discount broker to save on the commission. The house sells itself, right? Wrong.  

There are many risks but here's one of your biggest: buyers always want to know what's wrong with a property if it doesn't sell quickly. They automatically assume it's undesirable. If you care about maximizing sale price, "Something wrong with it" is the last impression you want buyers to have.  

Fact: 40% of Boulder sellers accepted offers for less than asking last month. This was largely due to bad marketing and poor negotiation skills. The median discount was $35,000. In this market, your property should be getting offers the very first week it's on the MLS. If it didn't, you chose the wrong listing broker.  

Before you sign on a listing agreement, have a discussion about valuation and ask specific questions about multiple offers and negotiation skills. Ask in what scenarios competing offers will be revealed to bidders. If they say anything that sounds like "offers are confidential," cut them loose. Unless your broker proactively chose that option in the contract (see §5.8), it's not the default.  It's just the old school way of doing business.    

Confidentiality is only mentioned under the mediation section of the Colorado Contract to Buy and Sell Real Estate. It's not even binding language, it's only a desired outcome if the you know what hits the fan. You don't want your broker using used car lot tactics to sell your home. Transparency builds trust and increases buyer confidence, resulting in a higher price and increased probability of closing. 

Choose your listing broker carefully. 

Buyers
Some houses are worth a premium and some are not. If your agent is just driving you around and opening doors, they're not adding much value. To make a smarter real estate decision, you need to understand valuation, appreciation trends, and how to conduct thorough due diligence while under pressure to remove contingencies. You need market intelligence delivered in real time, specific to your unique real estate situation. Because inventory is so low, you also can't just rely on the MLS. You need effective strategies to find unlisted properties. There is no shortcut to tracking the market. If your agent is sending you generic stuff from their office or Zillow articles, they likely don't understand the market.  

Choose your buyer's agent carefully.




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Like this analysis?    Subscribe to our client research report.     
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, April 03, 2015

This Week's Fresh Listings [Get 'Em Hot]

by Osman Parvez

Did you miss us last week?   

Between multiple closings, helping our clients put property under contract, and sneaking in a quick road trip to cross off a bucket list item (photos), there was no time left to blog.    

But we're back in the saddle now.  Let's cut to the action.   Are you ready?  Let's see some Boulder real estate. 

35 attached dwellings and residential homes came on the market this week. We sorted the wheat from the chaff and found 14 worth looking at.  

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



Single Family Homes


4545 Martin Drive | $515,000 | More Details
This Martin Acres home is spacious, sits on a large lot, and is close to Table Mesa shopping center, and easy access to HWY 36. Remodeled kitchen and light filled rooms. Expect it to go for higher than asking. Most Martin Acres homes sold this year have seen a bidding war. 

640 Yale Road | $559,000 | More Details
This is an example for why you can't wait for the weekend to see fresh listings.  640 Yale was listed on Tuesday and the offer submission deadline was Thursday.  They've already received multiple offers and the sellers are not allowing any further showings. 

It's true that 40% of listings sold for less than asking last month, but the majority of fresh listings are under contract at the asking price (or more) within days of listing.  Read the Over-Under in Boulder Real Estate.

To increase the chance of buyer success, we take clients to see new listings within 24 hours of the property hitting the market and if they want to buy it, our goal is to submit a strong, well crafted offer within 12 hours of seeing the home.   If you're serious about buying, we should meet in person to discuss on and off MLS strategies and get you into our active client program.    Click HERE to schedule an appointment.

1596 16th Street | $665,000 | More Details
Good looking, classic Victorian.  Two bedrooms on the main level, no basement.   Some updates.  Despite the listing verbiage, it would be stretch to call this a quiet neighborhood.  No garage.    

465 Lipan Way | $839,000 | More Details
Pretty, spacious and light-filled home in the quiet Baseline neighborhood. Vaulted ceilings make the interior feel bigger.   Three bedrooms on the main means this will work for a variety of owners (always consider future resale when investing in real estate).  Love the master bath.   According to City of Boulder planning maps, there will (someday) be a BRT stop where the bike path crosses US36, only a short stroll from this house. 

1515 Mariposa Avenue | $990,000 | More Details
Refreshed listing, but we're including it because it's worth a second look.   Charming home in Chautauqua close to all of the historic parks many offerings. Very well kept with an open layout and spacious yard, it's perfect for lovely summer nights.  Due diligence tip: Because it was built in '41, you run some risk with the planning department putting a kibosh on upgrade plans.   Don't think it won't happen to you.

1505 Sunset Boulevard | $1,450,000 | More Details
The home itself is outdated and a scrape. You're paying for a large dirt lot in a spectacular location. Sunset is a wide street, full of million dollar plus homes, and it's active with families. Great views to the North and walking distance to downtown and shopping around Ideal market.    Frankly, I would have listed it at $1.6 given recent negotiations over similar rare perches.

1440 Bellevue Drive | $1,550,000 | More Details
There's no doubt about it that this home is special. It's architecturally unique and sits in Bellevue Heights close to Chautauqua park.   Last marketed in 2013, 16,000+SF Lot and mid '60's construction.    Due diligence tip:  No HOA, but check the title work carefully for architectural restrictions.  These neighborhood level rules were common in the '60s and are usually still enforceable. 

1820 Deer Valley Road | $3,295,000 | More Details
If you want to walk your kids to Bear Creek Elementary and then hit the trails immediately after, this spectacular home doesn't need to be gutted and redone.  It has easy open space access, walking and hiking trails and a terrific view of the Flatirons.  If you're concerned with capital preservation, this also nails two of my three critical anchors for holding value during downmarket periods.  


Attached Dwellings

350 Arapahoe Avenue #17 | $119,000 | More Details

This two bed two bath condo is surprisingly attractive with a modern design and simple layout. It's sits close to the mouth of the Canyon, and gives you easy access to Eben G. Fine park and all of downtown. At this price and location, expect a bidding war despite the land lease.  Due diligence tip: We strongly recommend legal review to ensure long term occupancy and your CPA review the tax deductibility of the land lease.

4500 Baseline Road 2-2304 | $355,000 | More Details
It's been off the market for just under a year, so we're including this one.  Newly remodeled with a tasteful design. This could work out as a nice student rental if desired. It's right on Baseline and close to CU campus, nearby elementary and middle schools, and Meadows shopping center. 

625 Pearl Street #5 | $379,900 | More Details
Sold in October and flipped back on to the market for a quick $54K (at the asking price).  I don't see any updates during the four months the owners have held the property.  Phenomenal location if you want to be in the heart of downtown. It's small, but has a decent kitchen and living space. Complex is relatively quiet and west of noisy downtown area. 

1435 Yarmouth Avenue #202 | $450,000 | More Details
Top floor unit with high ceilings that's Southwest facing with a view of the mountains. The North Boulder Subcommunity is becoming more and more popular. With many shops, businesses and restaurants, it's a desirable place to call home. Investment potential as this area continues to improve.

1301 Canyon Avenue #206 | $1,029,000 | More Details
South facing unit with Flatiron views.  Center of the action, right across from the Farmer's Market.  Earlier this week, we closed on another unit in this building for one of our buyers. Our impression is the units are quiet, well appointed, and the building is put together with bank vault like construction.  There are also several common areas to enjoy with guests. The interior of this unit is clean, modern and well kept. Current tenants lease goes through the end of July.

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Like this analysis?    Subscribe to our client research report.     
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. 

Thursday, April 02, 2015

The Over-Under in Boulder Real Estate [Analyze This]

by Osman Parvez


One of our competitors marketing letters hit our mailbox this morning. As usual, it contained the usual "I'm #1" sales pitch and some charts that might have been relevant a few months ago.   

If you're buying or selling real estate in Boulder, you can't rely on old market data. You need to know what's happening right now. You need actionable, relevant information.   

Here's the skinny.



118 houses, town homes, and condos sold last month in Boulder. 34% sold for more than asking, 26% sold for asking, and 40% were sold at a discount.  

That's right. Despite the Realtor hand waving, not everything on the MLS is getting a bidding war. Only about a third of the market is receiving a premium. 

Of course, if you're shopping for a house, you don't care about condo sales.   Here's what house sales looked like over the last month in Boulder.





Slightly more homes (47%) were sold at a discount and a substantially lower percent were sold at asking (19%). Again, about a third of the market received a premium.

By the way, this data isn't even enough if you're seriously in the game. If you're shopping for a house in South Boulder in Table Mesa within a certain price range, for example, we need to drill down deeper. If you're considering a downtown luxury condo, it's an entirely different analysis. To make a well educated decision about real estate in Boulder, you need market information specific to your unique real estate situation. Generic analysis doesn't cut it. Call us. ph: 303.746.6896. 

Tale from the Trenches
In this market, negotiation skills matter. I was in a recent bidding war where my buyer would have gone $100,000 over the winning bid. The seller's agent didn't check to see whether we would increase our offer price. They assumed my buyer had submitted their "highest and best." They hadn't. The seller lost $100,000 because their agent didn't pick up the phone to return my calls. My buyer found another home and the seller was never the wiser of how much money they left on the table. 

What's at Risk 
Here are the facts: For houses that sold for less than asking last month, the median discount was $35,000. For houses that sold for more than asking, the median premium was $20,000.  

These aren't trivial numbers.     

Does your Realtor choice impact the bottom line? You bet it does. 

In December, I watched a clueless Denver broker misprice 2649 Juniper. There was a bidding war and it sold for $20,000 over asking. One month later, it was back on the market with only cosmetic improvements. It quickly obtained a sale price nearly $90,000 higher (facts, not hand waving).  

Not a bad return for 2 months. That's the power of knowing the market. 

There's a lot of smoke and mirrors out there. Choose your Realtor wisely.



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Like this analysis?    Subscribe to our client research report.     
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. 

note:  The data for March is preliminary.   Although Realtors are required to enter data into the MLS promptly, it's not uncommon for a handful of transactions to trickle into the data well after closing. 

Wednesday, March 18, 2015

Pigs Get Fat | California Tactics in Boulder Real Estate

by Osman Parvez

Heads up sellers! 

California style bidding wars are also bringing California style negotiation tactics into the Boulder real estate market. We've run into the following situation several times in recent weeks.  


Here's how it plays out:   

Step 1. Buyer makes an absurdly high (usually cash) offer. Other buyers are blown out of the bidding war or simply won't pay that far ahead of the comps. Seller and listing agents are shocked, but pretend to be otherwise, and accept. Buyer's earnest money goes into an escrow account.   

Step 2. Now that the property is tied up, buyer's agent uses the inspection objection and resolution to negotiate an absurdly large discount. If buyer can't find a real inspector to play ball, they use a bogus inspection (example). Inspectors are very poorly regulated and certification is not required in Colorado. If the negotiated discount doesn't drive the price low enough, buyer terminates and gets their earnest money back.   

Rinse, repeat. 

Understand the Negotiation Leverage

Sellers, beware. Once a property is under contract, leverage in the negotiation mostly falls to the buyer - yes, even in this inventory deprived market. Why? Because the seller bears the risk of a tainted listing if it returns to market. The seller pays for wasted time and incurs holding costs. The seller has few options to exit the deal without a buyer default because that's the standard position in the Commission approved contract in Colorado. At most, a buyer default only risks earnest money (unless they choose § 21.1.1. Specific Performance). 

Ever heard the phrase, "Pigs get fat, hogs get slaughtered"? If the offer is too good to be true, you're probably looking at a less than earnest offer.

Want to fight back? Smart listing agents use multiple offers to reduce or remove buyer contingencies and utilize Additional Provisions to claw back leverage
How? If you're thinking about selling your home, call me. 

Note to fellow agents: Boulder is small real estate market. The vast majority of deals are done by a handful of agents. If your buyer is playing this game, your reputation is on the line. Negotiating in bad faith will cost you and your future clients down the line.   

California love...







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Like this analysis?    Subscribe to our client research report.     
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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. 

Image:  Andy L

Friday, March 13, 2015

This Week's Fresh Listings [Get 'Em Hot]

Ready for the next owner!
27 new listings hit the market this week. Can you guess how many are worth seeing? 

Let's see... 

Already under contract or pending (sorry, you should have called me): 8

Poor location, layout, or otherwise uninspiring: 5

Refreshed old listings: 2

Ridiculously overpriced and the seller hopes you don't know better: 5

Actually worth seeing: 7

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


Let's take a closer look: 
Single Family Homes


535 Hartford Drive | $549,000 | More Details
Great location, great schools, and a functional layout with 4 bedrooms. It could use some updating, but because there is so little inventory, expect a bidding war.   











1695 Orchard Avenue | $650,000 | More Details
A scrape. The value is in the giant lot in a decent location. You're going to need a bigger mower










3030 Galena Way | $848,000 | More Details

Backs to open space and has nearby trail access. Note to clients: Value anchors like open space help the house weather real estate cycles. Homes with value anchors sell in any market, often get a premium when it's a seller's market, and decrease less when downturns occur. The lot size is a little small so don't expect to add much SQFT in the future due to Boulder's onerous Compatible Development regulations.    






1526 Sunset Boulevard | $1,200,000 | More Details
Another scrape. You're buying a giant lot on one of the most desirable streets in Boulder and the fact is the city probably won't care if you bulldoze it because the structure was built in '58. $1.2 for dirt is a little steep but maybe not for this awesome location. Safe neighborhood full of families and happy young children. Rumor has it, the next door neighbors are pretty great. 




2060 Norwood Avenue | $2,950,000 | More Details
This one is spectacular. Clients: Note how the home is built to frame the flatirons and everything is tastefully updated, inside and out. For those of you considering buying (or building) a luxury home in Boulder, this is what you're looking for. Turn-key, move-in ready. Due diligence tip: Ask your Realtor to check depth of market for high end homes in this location. If they waive their hands around and pull numbers out of their a**, get a better Realtor





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Attached Dwellings



3071 Carbondale Lane | $785,900 | More Details
Markel construction quality is decent but this location (Northfield/Kalmia 38) is unproven. The big benefit of new build is that you pick the finishes and the space is always more efficiently designed than old construction. One of several duplexes to pick from. What's that? A duplex for nearly $800? Yes. 



Investment Properties

1623 Grove Street | $685,000 | More Details
The only investment property this week. It's a 3 unit multi-family dwelling, currently rented well below market. Expect to incur some cost to comply with SmartRegs in the future but not a bad one to see with a cap rate of 5.4. 












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Like this analysis?    Subscribe to our client research report.     

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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.


image:  Thomas