Friday, May 22, 2015

Fresh Listings: Twelve Worth Seeing [Get 'Em Hot]

 minor flood damage
Twenty two house listings hit the Boulder market this week. Four were snapped up by desperate buyers.   Eight were in bad locations, grossly overpriced, or simply refreshed old listings pretending to be new.   Only ten are worth your time. 

Let's take a look. 

Note:  We're ignoring attached dwellings again this week.   Too little inventory and frankly, my buyers don't need any additional competition.   

To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.



Single Family Homes


2100 Riverside Lane | $2.3MM | More Details
First, there's no river in Boulder.  This property is on a dead-end road, just south of Fourmile Creek.   According to flood maps, it's outside the 100 year flood plain but within the 500 year flood.  

You're looking at a nice plus size trophy home for a family in a private setting.   Lots of updates but originally built in the early 1990's.   


Due diligence:  There was lots of flooding to the north of this location during the September 2013 event.   Check carefully for mitigation and signs of water in the basement.     
If you're shopping in at this price, you should also know demand is substantially weaker than at lower price points.  Before you hire a Realtor, read: Understanding Market Depth in Boulder Real Estate

5141 Denver Street | $975K | More Details
Buyers either love or hate New Urbanism.   The good news is that this location is rapidly improving, with the upcoming Armory development nearby.   The janky industrial and commercial buildings nearby will likely disappear in coming years, but the homeless shelter is more entrenched then ever.   Oh, don't expect the Bus Stop to ever go away.  Not the actual Bus Stop, you know the one I'm talking about.   Perhaps that's a plus for certain buyers

Repeat after me:  "Denver street, Boulder, Colorado....   No BOULDER, Colorado.  The street name is Denver.  Yeah, I know it's confusing."

Negotiation tip:  The last time this was on the market was 5 years ago.  It sold quickly but the price was 300K lower.  That's a ton of gain in 3 years.  I would be surprised if there was a bidding war for this, but in this inventory deprived, low rate environment, it's possible.  


1056 Terrace Circle | $955K | More Details
Nobody wanted it when it was listed two years ago for $825,000, so it must be worth an extra $130K now, right?  

The pros of this house are the layout and construction from this century.  The basement bar is kind of cool.  The kitchen isn't completely dated.     The cons are that it's a tiny postage stamp size lot. 


979 Meadow Glen | $949K | More Details
This location is great if you're into golf and tennis and want your children in South Boulder schools.  Original owner and what appears to be original finishes from 1990, too.   Save some scratch for updates.   The open areas on two sides of the house are a plus.  





4058 Guadeloupe | $890K | More Details
Fourmile Creek is not as proven a location (if you care about capital preservation).  There are other more established neighborhoods in Boulder, but at you'll get a lot better house as a trade-off.   Tall ceilings, a decent layout, finishes that are more modern, and a more reasonable $/SF.   
Oddly, these sellers want to tear out their Cat 5 and take them when they sell.   I've never seen cables listed as an exclusion before.  Better clarify that in the contract or offer them so gold plated monster cables in trade.    

p.s. I love the wine cellar in this one.   Buy it with me as your agent, and I'll fill it as your closing gift (with $2 Buck Chuck).


429 Concord  | $875K | More Details
After 5 days on market, this one is probably already gone.   The seller wanted offers in today, preferably stuffed in a suit case filled with marijuana stinky cash.    

Why is it worth a look?  It's historic, in good nick, surrounded by the most well established, most coveted, and most restrictive neighborhood in Boulder.   Walk to downtown, walk to Sanitas, sip a quadrupple late with your pinky up at Ideal.    What more could you ask for... how about a garage?  The answer is no.

Due diligence:  Have your structural engineer on standby.  The house has a history of serious structural issues, supposedly corrected with helical piers.   Maybe it's all fixed.  Or maybe it's not.   You feeling lucky?


2102 Mariposa | $800K | More Details
Another great location, but be prepared to light a match when it comes to the interior.   Maybe the exterior too. Smart buyers should budget for a Tom Hank's style full gut and remodel.    

Buyers should also be aware of the increasing student density the closer you get to the University.   Lower Chautauqua is not the Hill, mind you, but this area is not a party-free zone either.   Due diligence tip:   Check for red solo cups in the neighbor's recycling bin.   Yes, I'm serious. 


3772 Ridgeway | $785K | More Details
No, it's not "duplex style."  It *is* a duplex.  

Don't write it off, though.   Northfield's location is unproven but the  product is superb with tall ceilings, lots of space, and an intelligent layout.    It's probably the highest end duplex you've ever seen.   Very livable and efficient.  Turnkey.  This one backs to the athletic fields.  Worth a look, if you don't mind sharing a wall with your neighbor. 


3380 Loyola Ct | $725K | More Details
I'll be shocked if this one makes it through the weekend without a bidding war.   The DIRT is worth more than the asking price.   It's a decent size lot overlooking one of the best views in Boulder, the best schools, on a nice little dead end street.   Assuming no red flags on the structure and on any architectural (height) restrictions in the title, this is a gem of a foundation for your Boulder dream home.   

Due diligence:  Visit the planning department once you have it tied up and review the title work carefully for additional restrictions beyond zoning, building code, smart regs, and solar access rules.  If your agent can't guide you through that stuff, get a better agent


4785 Shoup Place | $557K | More Details
Houses and lot sizes are more generous in Park East.  The owners of this four level home put in some nice updates over the years, too.     

Negotiation:  At this price range, competition is fierce among buyers so be prepared  to waive a few contingencies and pay substantially over asking.  There isn't much worth considering below $600K in the market right now.  All the sharks will be in a frenzy about this one.    

Ok, now I can't get the shoop shoop song out of my head.     

Location tip:   If you're a cyclist, it's super easy to get on the bike path and roll to downtown from here.  The bridge over Foothills is around the corner.   Just watch out for bridge trolls

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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 rigorous due diligence and professional advice before buying or selling real estate.


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