Friday, February 13, 2015

Fresh Listings, Valentine's Weekend Edition [Get 'Em Hot]

Thirty shiny new listings hit the Boulder market this week. We sorted out the good from the bad, tossing the properties with bad locations, refreshed listings, and other unworthiest. These are the best of the bunch. 

Readers have asked why we don't throw more listings under the bus. Sadly, the Realtor code of ethics prohibits us from making disparaging public remarks about listings. It also makes our job harder when it comes time to negotiate. Instead, we'll point you to ones that are worth a look - and we'll tell you why. 

If you're shopping for a home in Boulder, here are ten worth considering. Just remember, worth considering doesn't automatically mean worth buying. To schedule a private showing, which includes a discussion of valuation and price trends, while sipping stouts at the Southern Sun, call Osman at 303.746.6896.

p.s. If you want to know why certain listings didn't make our list, just call or email. Snarky remarks are always free. 

Attached Dwellings

4300 Monroe C |$279,900 More Details
A two bedroom townhome, close to CU. The interior has some nice updates. When you (or your student) outgrows it, keep it for the income. This location is very desirable for graduate students and young couples. The HOA is also reasonable. 







4524 14th |$319,900 More Details
Uptown Broadway is sophisticated, few students live here, and the nearby retail mix is excellent. This is a good choice for a turn-key property. Decorate and move in. The North Boulder Sub Community Plan is an indicator for strong appreciation in coming years, which is why Osman owns a unit there. Due diligence: You'll need a strong down payment to qualify for a mortgage at Uptown, portfolio lending only (for now). Rumor has it the development will be warrant-able in the near future, so expect price acceleration soon. 



Single Family Homes


912 Locust $1,195,000 |More Details
At the asking, this property shows massive gain in only a few years. When you visit, look for significant investment in expansion and remodeling. The location is decent, with easy access to the Wonderland Lake Lake trail system. You're also close to Lucky's Market for decent restaurants, coffee shops, and grocery. Good layout for a family. Built in '96 so reasonable energy efficiency and well past the era of lead paint/asbestos. Anyone know how easy it is to change street names in Boulder?






530 Juniper $2,200,000 |More Details
Great location, solid layout, adequate lot size. Energy features are attractive. Vaulted ceilings give it a sense of spaciousness, but with +3200SF finished and +5400SF total, this is not a small house. Due diligence: This location saw a ton of flood damage. It varies house by house, check carefully for proper repairs and mitigation. Buy it with us and Osman will throw in a year of housekeeping. 








175 Bellevue $3,000,000 |More Details
Forget the fluffy details in the listing description. The value anchor is the location and the large lot. If you're looking for a trophy in Boulder and are concerned with capital preservation, this is a good candidate. It's equivalent to waterfront property. Keep some reserves, you'll want to update the interior (it's dated). Layout isn't ideal for a family. $/SF is reflective of the rarity of the location, not the finishes. 

3020 23rd $725,000 |More Details
We're on the fence about this one, but it's worth looking at given the ultra low inventory. The fourth bedroom isn't conforming and the house is in a well known cell phone black hole. On the plus side, the finishes look acceptable and you've got a two car detached garage. If needed, the lot size is probably adequate to allow some growth. If the inventory weren't so low, this wouldn't have made the cut. 


1150 Green $799,950 |More Details
This is a flip. The owner paid $569 in November. Before photos are here. The home has a new kitchen and bath, in other words cosmetic updates. The property is in a great location, has an intelligent layout, and you've got the highest ranked schools in Boulder. 



Investment Properties

730 19th $699,900  |More Details
Duplex rented at $3k/month. Lot size is small, but if you creatively added a third bedroom to each unit, this could generate substantial positive cash flow. Demand for investment property is high in Boulder, so put it under contract before marching over to the planning department for a consultation. Due diligence: Odd requirement to assume the loan and don't forget about SmartRegs. 2019 is only a few years away. 

935 12th $1,149,900 |More Details
This one almost didn't make the cut because it's a run down student rental. We think it's worth seeing because it's a great location across from a pocket park. We've also sold homes nearby and our clients (with a young family) adore this neighborhood. 1960's construction means that it probably isn't of interest to the historic preservation people. If you're looking to park cash and say... have a student at CU, this could be a place to invest. Put enough equity into cash flow, build or update to suit when you're ready. Just keep in mind the lot size is small and the city's rules continue to get more onerous.  


Land


2560 Panorama $649,000 |More Details
Open land is rare in Boulder. We know this particular location very well. It's desirable because of proximity to downtown. Before you write an offer, carefully evaluate the comps for view corridor differences. It varies lot by lot. Also, recorded architectural restrictions make going up for a better view difficult, at best. We had a recent buyer who paid for legal review.  If you're serious about it, we might be able to arrange for a consultation. Pro tip: See that tree blocking your view? It's not on your land. Trees have been known to grow leaves. 


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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.

image credit:  K. Hurley

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