Friday, October 02, 2015

Turn-Key to Bare Dirt - Fresh Listings [Get 'Em Hot]

Seventeen new listings hit the Boulder real estate market this week. We sifted out the stale and refreshed, the overpriced and (most) bad locations. This week's options include everything from high end historic homes to bare dirt lots. 

Are you ready to look at some houses? Here are ten worth considering. 

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



Single Family Homes


2056 Mapleton Avenue | $1,695,000 | More Details


Historic home, completely renovated and updated with excellent craftsmanship by Paul Baumann in 2009. Decent location, around the corner from Whittier Elementary.

Due diligence tip: This is a beautiful house but in a weaker market, it was not snapped up by eager buyers. It took 150+ days to sell during the last downturn. I suggest caution and a careful valuation analysis before writing your offer
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1205 Sumac Avenue | $985,000 | More Details

Beautiful, brand new construction. Family friendly layout. 3 car garage. Far North Boulder continues to improve as a location. So... what's not to like? OK, I'll tell you. Proximity to Broadway.  

Due diligence tip: Check for traffic noise. We generally recommend that our clients not purchase homes that are less than 3 lots in from busy streets.

 


849 9th Street | $985,000 | More Details

What you see is very much what you get on 9th street. The lot sizes are too small to allow meaningful expansion due to Boulder's Compatible Development ordinance. This house is also historic, which means additional layers of review. Sure, with 5 bedrooms and a decent layout, it could work for a variety of buyers. It has some nice updates but needs a kitchen refresh. 

Due diligence: 9th street is a major artery. It is always busy. Also, check the neighbors recycle bins for red cups. This street has a lot of college rentals. 

 
2738 Winding Trail Place | $675,000 | More Details

Some updates, interior feels contemporary. Decent location. Built in the early 80's, so past lead paint and asbestos concerns (we still recommend testing). 

Due diligence: Only 1079 SF above grade and a tiny lot size will limit expansion under Compatible Development. 4 bedrooms but a split layout, which may not work for families. If you're buying this, better assume that What You See is What You Get (WYSWYG).  




20 S 38th Street | $589,000 | More Details

A mostly original 60's bi-level in Martin Acres with some updates. 

Due diligence: Only 2 lots in from Moorhead. 38th also gets quite a bit of traffic as parents drop/pickup children from nearby Creekside elementary. 




Attached Dwellings

827 Maxwell Avenue K | $450,000 | More Details


Dated 2 bed/2 bath with an exceptional downtown location. If the past is an indication, attached dwellings within a few blocks of downtown hold their value very well during real estate cycles. Reasonable HOA. 

Due diligence tip: Check for adequate reserves and special assessments. 

 


3385 Cripple Creek Trail 14-C | $370,000 | More Details

Ignore the fuzzy pictures and go see this one. It's been well updated and it has a desirable ground level patio, a desirable feature for the majority of Shanahan Ridge buyers. 

Due diligence tip: Utility bills are expensive in this complex due to electric baseboard and late 70's vintage construction. Request utility billing records as part of the due diligence contingency in the Contract to Buy and Sell.   

 

4475 Laguna Place 203 | $340,000 | More Details

A few years ago, we took buyers to see virtually every apartment complex in Boulder. They chose a top floor unit at Laguna Place (Villa Del Prada) because of the excellent maintenance history at the complex, heated garages, elevators, and other amenities (including an indoor pool). An adjacent shopping plaza has a grocery store and restaurants.  Easy access to Foothills Parkway for commuting purposes and CU is just down the street. Ignore the fuzzy photos, go see it. 





Vacant Lots and Land

1525 Redwood Avenue | $699,000 | More Details

Amazing. This dirt lot sold for $86,000 in 1986. Now the asking price is $700K. That's Boulder real estate for you. It's a great location and North/South oriented lot in North Boulder. The only thing missing is views. If you want to build your dream home, this would be a good spot. Just remember that construction costs are averaging $280/SF for finished construction. When you're all done writing checks, expect to spend $1MM+ for a 3,000 SF house. Anyone telling you different doesn't know what they are talking about.

 


233 Bellevue Drive | $1.5MM | More Details

Large lot in a spectacular location. Interestingly, the owner previously tried to sell at or near the peak of two previous real estate cycles (2001 and 2006). Will the third time be the charm? 

Due diligence tip: Building in Boulder is expensive due to extensive construction regulations, among the most challenging in the country.  






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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.   Top image:  Cliff (CC by 2.0

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