Wednesday, December 19, 2012

The Patron Saint of Real Estate? [Listings, Not So Hot]

by Osman Parvez
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I was wandering around Grand Rabbits in Boulder the other day, shopping for my niece and nephew's presents, when I came across this little gem.

Take a look....

That's right.   For only $5.99, you can have your very own Patron Saint of Real Estate.   I suppose, if you're having trouble selling your house it certainly can't hurt to appeal to a divine power.   In addition, you might consider calling a seasoned and experienced Realtor with a proven track record.  You know, just saying...

Anyway, since we're on this topic, let's look at a few listings which have had a little trouble attracting a buyer this year.   These properties have been on the market a very long time and could use a little help from Saint Joseph.

As my very savvy grandmother used to say, as she stirred the curry, "well seasoned listings make a good target for a low offer."    Sadly, my grandmother is no longer around to advise you on negotiation or Indian cooking.    In lieu, consider watching my video, 8 Things You Should Know Before Writing a Low Offer.

Show Me The Numbers

As of this writing, There are 198 houses and 197 attached dwellings (town homes and condos) on the market in Boulder.     Of these,  59 houses (30%) and 47 attached dwellings (24%) are currently under contract.

These are phenomenal numbers.   As a regular reader of the our research report, you know that December and January are usually the SLOWEST time of year in Boulder real estate. Not this year. You're looking at market conditions that are much more typical of summer.   Think about that for a moment.

Houses with Long Days on Market

Without further adieu, here are the ten houses in Boulder that have been on the market the longest.    Their owners would very much like you to write an offer.   No, seriously.


The median days on market (DOM) for these houses are approaching a year, and one is coming up on a three year anniversary.   You'll note most of these slow-to-sell properties are in the mid to upper price range of the market, inline with research highlighted in my last report.   I also removed the imaginary houses from the data set, i.e. spec projects with drawings posted on the MLS instead of real pictures.      For more details on these real houses, including photographs and listing information, CLICK HERE.

Condos and Town Homes with Long Days on Market

Now let's look at condos and town homes on the same basis.


Again, I've removed the imaginary houses from the data set (i.e. spec projects).  I also left only one sample from each new development (how many condos do you want to see at The Walnut, anyway?).  

The median DOM for these properties is over 400 with the longest running listing at 3.5 years on market.     A few lower priced properties made the list too, but higher end luxury condos are more prevalent.   For details on these properties, including photographs and listing information, CLICK HERE.

 
p.s. I'm not just a blogger, I'm a Realtor.   I can show you any of these properties and help you negotiate a fantastic deal.    Call me at 303.746.6896. 
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