Wednesday, January 25, 2012

Listings Worth Checking Out

by Osman Parvez
 In Boulder, inventory of available houses begins to build in January.    As selection grows, more buyers also enter the market and competition for the most desirable houses is likely.  It's important to pay attention. 

 This morning, I sifted through the new listings in Boulder.  I removed the obvious dogs (bad locations or other problems) and came up with a few worth a visit.    I'll be scheduling previews for the weekend (assuming no forecast powder).  Call me if you'd like to tag along.   303.746.6896.

Remember, the only way to feel confident about the offer you're making is to know the comps.  That means visiting the properties, preferably with a buyer's agent (my bio) who will point out pros and cons.  You cannot rely on listing photos and flowery descriptions.  



Entry Level
540 S. 40th Street.    I'm always a little worried when listing language talks about "the bones" of a house.  Usually it means the interior needs to be gutted but this one looks like it's in pretty good shape.    South facing, several houses back from Table Mesa Drive, and a row behind the retail/commercial stuff.     Good for Southern Sun fans (stout month!).    $399,900 asking.

1040 Aurora Ave.     This rental is in the zone on University Hill where income properties are turning into owner occupied.   The listing conveniently leaves out the lot size, perhaps because it's tiny.   Only 2,256 SQFT which means that expansion is severely limited.   If you're thinking owner-occupied, save some cash in your budget for improvements. The location is close to Chautauqua and CU.   I can see an investor picking it up, having fun with remodeling, and turning it into a executive style rental property.   Asking $449,000.  

284 S. Peak Road.   The key with mountain property is not going so far up in elevation that winter lasts an extra three months.    This four bedroom house is about half the distance to Ned, near the Switzerland Trail.  It has a wrap-around deck, lots of  windows to let in the sunlight, and nice views.  From the photos, the design feels like a mountain cabin but it's functional as a real house.  As with other mountain properties, your due diligence should include your winter commute, fire insurance costs, view corridors, and potential water/sewer issues.   Asking $450,000

Mid Range
2434 Mapleton.    I like this house because it has a nice design, good indoor/outdoor transition, and a two car garage.   It's not super close to downtown but it's still in a very good location.  Frankly, you should click on the link for the listing agent's engaging description and wildlife photography.   The front-side house and lack of a yard could be an issue for some buyers, or maybe it presents an appealing low maintenance situation for others.   Asking $675,000.

901 Poplar.   Close to Wonderland Lake open space, not on busy Poplar Ave, plenty of space, tall ceilings, and relatively recent construction.   The kitchen looks a little cramped (it could just be the listing photo) and at this price range, you really want a house that flows for entertaining.    The seller appears to be the first owner.  They paid $475,000 in 1999.     Now asking $699,000.

Higher End
778 13th Street.   Nice design, good indoor/outdoor transition, on a decent size lot.  The detached guest house is a bonus for out of town visitors or an office (hi mom!).   The owners put a lot of love into their remodeling/design work.   Not a fresh listing, but the price has dropped $100K since it hit the market two years ago (check back on this blog for my video on low-offers and another reason why this one should make your show list).  Asking $1,050,000.

2930 Island Drive.     There aren't a lot of properties with water and mountain views within the City Limits.  This one has plenty of bedrooms, large square footage without being excessive, and an appealing design.  It looks like the kitchen could use an update.   If my buyers were interested, I'd be sure to also show them a few newer options at Northfield Commons and tell them that due diligence should include a check of the air traffic from the nearby airport.    Asking $1,150,000 (the owner paid $850K in 2005). 

1065 8th Street.   Realtors aren't supposed to fall in love with property, but I'm guilty when it comes to this block of 8th street.  Maybe it's because I once lived just up the street and adored the location. Or maybe it's because we recently sold a fantastic nearby property to some of our favorite clients.    Either way, if you're in this price range, you should take a look.  This one has partial views, nice decks, and may only need cosmetic updates.  On the due diligence side, I'd encourage my buyers to check the stucco on inspection.  It could be EIFS which has been known for water retention and may require a higher standard of TLC.   Not necessarily a deal killer, but something I'd want my clients to know.   Asking $1,249,000.

Here's a link for those of you who want to see the Full Set.   Ignore the attached dwelling that snuck in there.   See you in the wild...

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