Tuesday, December 04, 2012

Hot Or Not? [Fresh Listings]

by Osman Parvez
Let's take a look at fresh houses and condos hitting the Boulder real estate market.     Yes, new listing do hit the market even at this time of year.    Of course, you have to sift the refreshed listings out.

Oh look, I've done it for you.

2727 Folsom Street (link) - This is a nice option for a young professional or student.    It might make for a nice executive apartment, a commuter reprieve or home away from home.  With just 570 SQFT, be prepared for a minimalist lifestyle but it's a cheap way to stake your flag in Boulder at only $145,000.    The condo is situated very close to the center of town and for investment purposes, it should be quite rentable.    In the past, I've advised a potential seller to hold in this development rather than sell because of the rising rent.  He's now very happy with the investment performance.     Due Diligence:  Compare to Aspen Grove where about the same cash will buy you a 2 bed, 2 bath however that location is inferior.  

2510 Taft Drive - (link)  Miss college?    Buy this 2 bed, 2 bath condo and you can relive your favorite memories because most of your neighbors will be students.    Who knows, be cool and maybe they'll invite you to one of their red cup raves.   Kidding aside, these units are spacious, well designed, and only about 10 years old.   They are also in extremely close proximity to CU.     At only $176,543, it's a steal - but you have to qualify with the city's Affordable Housing Program to purchase it.   Due Diligence:   Affordable housing may only be purchased as primary residences and appreciation rates are capped.

935 Broadway - (link)   As the "students" will tell you, the action is on the hill.    Which is why if I were buying a condo for a child attending college, I'd look elsewhere.     At the same time, condos in this location seem to hold their value and historically have appreciated faster than other locations.    Accordingly, the fee for entry is steeper at $319,000 for this 924 SQFT 2 bedroom, 2 bath.    Due diligence:   Compare to 3 bedroom, 1 bath houses on the east side of campus.

1922 Tyler - (link).    This location is a small protected alcove in a desirable spot of Boulder.     The house is obviously a scrape.    At this price, I'd expect it to have stunning views, which is really what you want if you're buying to build your castle.   Due Diligence:   Check the view corridor and discuss with your architect whether the lot is suitable.

1840 Oak Ave - (link).    This 3 bedroom, 4 bath in North Boulder has been tastefully remodeled.    19th Street is a little busy, but you're a few houses away.   Otherwise the location is pretty good.   It's on a decent size lot which appears to have been split with its western neighbor.    Due Diligence:   Most buyers prefer the bedrooms on the same level, or the master on the main and other bedrooms above.     This house has the master on the main and the other two bedrooms on the lower level.  While this might be OK for you, it limits the potential market for resale when the time comes to sell the asset.   

745 Linden Ave - (link).    This 4 bedroom, 4 bath is on a large lot in a desirable location (west of Broadway).     As expected at this price range (asking $849,650), the home features a view corridor and is in close proximity to open space.   It looks like it's had a few updates, but sadly not the kitchen.   Due Diligence:   Linden is a through street. Some of the neighbors have built large concrete fences to reduce the impact from traffic.   The house may also be well set back from the road, which helps.   It seems to have a nice view, but that may not be protected.  Wouldn't that be a nasty surprise down the road. Double check this. 

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