Friday, July 14, 2006

Deals of the Week

by Osman Parvez


Here's what applying a contrarian strategy (start with high DOM) can yield in Boulder. The following homes sold this week at big discounts after prolonged periods on the market.

2155 S. Walnut St 2. This 3BR, 3BA, 1400 SQFT tri-level townhome is situated in a great location in downtown Boulder. Originally listed for 449,000 in march, it sold this week for 385K (14% discount) after 104 days on market.

1564 North Street. This 3BR, 3BA, 2200 SQFT home had a major renovation in '95 and was updated in 2004. It featured a newer kitchen with Hickory cabinets, soapstone countertops, oak flooring, 2 bedrooms upstairs with private baths, and a main floor guest room with adjoining 3/4 bath. Originally listed for 685K, it sold this week after 168 days on market for 600K, an 11% discount from original asking price.

908 10th Street. This 4BR, 2BA, 2400 SQFT "arts & crafts" style 2 story home located in the University Hill area (close to Chautauqua) with flatiron views. The home had original fir floors, a recently remodeled kitchen, high ceilings, walk in closets, brick fireplace, built-in cabinets throughout, and lots of light with south facing windows on a mature lot w/ fruit trees. The house was originally listed in April for $735K. It sold this week after 136 days on market for $689K.

Take home lesson: Do your homework and know the market. Don't be afraid of properties long on the market as seasoned sellers may be more open to negotiation. And before writing an offer, be sure to ask your buyer's agent for an analysis including a set of comparables.




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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. 

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