Tuesday, December 13, 2005

Investment Strategies: Luxury Homes in Boulder

by Osman Parvez


As of yesterday afternoon, there were 28 homes in Boulder on the market for $1,500,000 or greater. The median home is 5,250 SQFT, has an asking price is $1.9MM, and has been on the market for 178 days.

Want a bargain? Check out the slowest selling luxury home in Boulder. 419 Canyon Blvd, on the market for 1,106 days. Originally priced at $2MM back in 2002, this 2,100 SQFT historic home (in the historic district) was reduced to $1.75MM in August, 2003.
As I recently advised a client looking for a good investment, sometimes it pays to pursue an uncommon approach. New listings and (to a lesser extent) those that have had recent price reductions generate a swell of buyer interest. The MLS system encourages this by sending out "alerts" for new listings and price changes. Meanwhile, properties that have sat on the market for extended periods of time (without a price change) gather far less attention.

"Seasoned" listings have more realistic sellers and there is typically more room for negotiation. If you are looking for a bargain, ask your realtor to help you find listings that have been on the market for a greater than average period of time. You may just find a gem hidden in the rough.

---
Like this analysis?    Subscribe to my research.          Ready to buy or sell?  Click HERE to schedule an appointment or call 303.746.6896.

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. 

No comments:

Post a Comment