Friday, January 08, 2016

Inventory Flood Kicks Off 2016 [Fresh Listings, Get 'Em HOT]

You wanted more houses available for sale? Here it comes. After months of declining inventory, we’re finally starting to see a higher volume of fresh listings. This week...

New Listings: 52

Under Contract: 5

Refreshed: 9

Overpriced: 5

Bad Location or Otherwise Undesirable: 10

Spec: 1

Worth Seeing:  22


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



Boulder 


2036 Mesa Drive | $1,300,000 | More Details
Last traded hands in 2013 for $938K. I love this location for its proximity to downtown Boulder but if you’re considering writing an offer, remember that the quality of the view is everything when it comes to valuation - especially in this location. Many of the homes on the higher level streets (Panorama, Alpine, and Balsam) have jaw dropping views but some do not. Buyer Due Diligence: Carefully evaluate comps for view quality and protectability.   If improvements are planned, check for  recorded architectural controls in the title docs. This neighborhood has them.


 




4390 Park Court | $895,000 | More Details
I sold the neighbor their house a few years ago. GREAT location for families, pocket park directly adjacent. Easy drive to Boulder. Great schools. Interior could use a little freshening but it’s in a decent condition. Homes in this little cul-de-sac are rarely available.  Buyer Due Diligence:  Commute times and lack of proximity to retail.

 




 
1031 Portland Place 4 | $470,000 | More Details
Solid investment potential. Downtown Boulder locations have always attracted quality, high paying tenants. Exterior of these units is abysmal but the location overcomes the deficit because most renters don't care about curb appeal.  Buyer Due Diligence:  Limited Parking

 



 


3161 Madison Ave O-202 | $279,900 | More Details
Wimbledon investment unit. Good CU kiddie condo. Decent build quality. Valuation fluctuates by orientation in the unit and proximity to busy roads. Buyer Due Diligence: See our recent post on Wimbledon valuations: How Much Should I Offer?


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


Louisville

1825 Sweet Clover Lane | $899,900 | More Details

One of several that Markel has on the market in the second phase of North End. Markel build quality has historically been very good. This one has a good layout and a decent spot in the neighborhood. Hecla reservoir has open space walking trails nearby. Buyer Due Diligence: A trip to the retail area of downtown Louisville isn’t a lovely stroll, you’ve got to cross Hwy 42. I’m also not a great fan of the retail that fronts this neighborhood on S. Boulder Road.


 

905 Cypress Lane | $540,000 | More Details
Dated with a split layout, but decent size and a two car garage. Buyer Due Diligence: Check for backyard access to the adjacent open space. It looks like an easement behind the house on Cherrywood, but needs to be confirmed.

 




 
173 W Elm Street | $474,900 | More Details
I represented the sellers and sold this house only a few years ago. The private cul-de sac is very secluded. The openness of the entry and transition to the backyard is an excellent feature. I saw it this morning and the sellers have put in a few updates. Buyer Due Diligence: Check for traffic noise due to the proximity to Pine St. A lot of the square footage (and two bedrooms) are in the basement.







1100 Main Street | $465,000 | More Details
Small 2 bedroom but a terrific downtown Louisville location. These little historic bungalows are becoming a rare find. Buyer Due Diligence: Although the lot is a decent size, this property is historic. Check for restrictions if your plans include expansion. Louisville is far less restrictive than Boulder but it’s definitely a potential hurdle.  There were also historic mining shafts nearby. Also confirm your tolerance for train noise.






1978 Sunnyside Circle | $462,500 | More Details
A decent size ranch with a full basement built in the mid 70’s. This one has had some nice updates. Last sold for $321,000 five years ago. Due Diligence: check for train noise.





 


544 Dahlia Way | $390,000 | More Details
I saw it this morning. Finishes could use a mild refresh (paint, drywall tape cracks, refinished floors) but it’s in pretty good shape. Solid location in Louisville.  Buyer Due Diligence: Only 1 bath. No clear location for 2nd bath to be added (build into the garage?).  Backyard overlooks the cul-de-sac.   Multiple offers are expected.   Deadline is Monday.






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


Lafayette 

 
9620 Avocet Lane | $3,250,000 | More Details
Beautiful high-end spec home on 2.3 acres of land in unincorporated Boulder County. Easy drive to City of Boulder. Name brand architect. Lots of potential. Buyer Due Diligence: What looks like open space behind the property is a working farm and potentially subject to future development. Also check noise issue from nearby train tracks. Only 6 homes sold above $3MM last year in Boulder County, most with some discount or concessions over inspection issues. Buyers should choose their real estate adviser carefully, fully evaluate comps, and negotiate accordingly.  

 


408 Lone Eagle Pt | $760,000 | More Details
This house has had minimal updates since it last sold almost 22 years ago. Decent layout and location in the neighborhood. Large lot. Indian Peaks offers an easy commute into Boulder or the highway 36 tech corridor. Buyer Due Diligence: backyard is open and abuts Indian Peaks Trail but can be fully fenced.

 



1130 Milo Circle B | $235,000 | More Details
Decent location for young professionals or families. Lock and leave. Sizeable square footage (basement).

 








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

Niwot 

7187 Longview Drive | $1,168,000 | More Details
Many trophy high-end homes were built in the late 1990’s in Niwot. Several are currently on the market (the others are in Somerset). This one should be on your show list if you’re shopping for this type of property. Buyer Due Diligence: Have your real estate advisor walk you through the market history for high end homes in Niwot during the last real estate cycle before writing your offer. It’s an eye opener. At one point during the downturn, there was more than 2 years of inventory available for $1MM+ houses in Niwot. In other words, don’t rush in. For downside risk protection, careful selection is critical at this price point and location. If your Realtor shrugs their shoulders when you ask about the potential of a coming downturn, get a better Realtor.

 


8217 Willow Lane | $840,000 | More Details
Niwot on a more affordable budget. Last sold 17 years ago and appreciated 2.4% annually at the asking price. Location and layout are both good, finishes need updating.








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

Broomfield 




15875 Wild Horse Drive | $519,900 | More Details

We sold a nearly identical house about a year ago on Wild Horse Drive to two happy buyers. It’s a perfect neighborhood for active seniors and not far from Boulder. We had lunch with these clients about a month ago and they remain very pleased with their purchase, not just the quality of the house itself, but the improvements in the neighborhood. This one seems under-priced. Worth a look.




Longmont 

920 Neon Forest Circle | $899,900 | More Details
When Prospect was first built, it was a funky and hip but also a bit of a curiosity with selective appeal. A decade later, the trees have matured and the neighborhood has come together nicely. The contemporary architecture has remained attractive, the neighborhood is full of families, and the community events are terrific. This particular house is in a good spot on Neon Forest and has nice finishes and a solid layout. If you’re stretching your budget, consider that this particular property has a carriage house you can rent out to offset your carrying cost (it’s currently leased through May). Buyer Due Diligence: Is Prospect really Longmont’s most desirable neighborhood? I think you should consider Old Town as well, but historic homes are not for everyone.

 

 
1224 Carolina Avenue  | $342,000 | More Details
Near Roosevelt Park on a quiet street in Old Town. Historic bungalow. Not a fan of the layout, with one of the three bedrooms in the basement (non conforming), but it will work for some buyers. Maybe you?  Old Town is very desirable and rapidly improving, pawn shops are giving way to nicer restaurants.  This house last sold in 1988!





221 Cardinal Way | $240,000 | More Details
Blue Mountain Vista is just on the other side of 287 and slightly north from the hip Prospect neighborhood.  Take a walk and you get the amenities at a super affordable price. This small three bed, 2 bath was built in 2010 and includes a 1 car detached garage. At this price, you’d think it was affordable housing. It’s not. 


 


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


Investment Opportunities

3480 Hayden Place | $1,235,000 | More Details
Interesting investment play. Multifamily under $2MM is rare in Boulder.   I'm currently conducting due diligence for an investor.  The trick is substantiating the rent. 

 



 



5485 Conestoga Court 104 | $813,900 | More Details
Solid building, mixed use. Former tenant with knowledge of the building tells us there used to be an old gym in the building. The dock and garage door are significant advantages for companies shipping product.





 

1068 S 88 Street A | $375,000 | More Details
Good spot for a medical office with several population centers. 4-5 exam rooms might work for a joint practice.  Built in 1997 so reasonable aesthetics. Stop leasing, own it. 









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

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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.    Powered by Realty Unique, LLC. 


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