Friday, April 08, 2016

Historic Boulder, Luxury Views, and More Trophy Estates [Fresh Listings, Get 'Em Hot]


Blog readers (and disappointed Realtors) often ask why their listing didn’t make the cut. 

The better question: What does it take to make the list?


13 years of real estate experience and 20 years of investment experience. It's hard to summarize.  

It starts by screening for whether I would buy it. That’s right, me personally. Whether as my personal residence or an investment property, if I can’t imagine a scenario in which I would consider acquiring a particular property - it’s not going to make the list. Only solid locations, priced intelligently, and with desirable features. The rest are culled. 

Your time incredibly valuable and this market has become extremely competitive. You don't have time to mess around. The only thing you can accomplish by seeing a likely bad investment is to talk yourself into it. There's a reason I've closed a dozen homes for buyers in the past three months. Use your time wisely. Attractive investments are on the market for 24-72 hours.

This week, well over 100 listings hit the Boulder area real estate market. Twelve are worth seeing. 

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



Boulder 


7262 S Boulder Road | $2,890,000 | More Details
It’s not about the house. You’re looking at 27.6 prime acres, oriented with a great view of the Flatirons, in unincorporated Boulder County. The early 80’s vintage house is certainly livable and should provide adequate bones for reconstruction. Ignore the all caps description in the listing detail and the flash photography of the interior. This is a value play. 
Due diligence: There is some risk that the church owned property to the west could be developed to block your view, but they’d have to go past the solar panel array to do it. I’d recommend negotiating a donation tied to a conservation easement with the church as part of your due diligence, once you’ve tied up the property. The privately owned parcels to the south and further west should also be evaluated for development/view blocking risk.  

p.s. All of my listings get professional HDR photography - at all price points. 




890 Linden Avenue | $1,968,000 | More Details
Usually when a listing doesn’t lead with the exterior shot, it means it has poor curb appeal. Not this one. The outside looks as great as the inside.  The location is superb for access to open space and downtown Boulder. Due diligence: This location had some heavy water during the floods of September 2013 and the SPD is not currently on the MLS. Check carefully for flood damage mitigation. It can vary dramatically house to house.









1565 Moss Rock Place | $1,875,000 | More Details
A client recently clued me into this special spot of Boulder. The dead end street makes for little traffic. View perches are hit or miss. This one has seasonal views. Due diligence: Interior needs a gut and remodel but you’re starting under $400/SF for the existing house. It might prove a better option than a fresh construction project. Bring your architect to the showing. If your Realtor can’t help you do that, find a better Realtor.





1133 Woodland Court | $1,599,000 | More Details

I love Devil’s thumb for it’s nearly private social trails. If you’re buying in the neighborhood, you want one that backs to open space. Open space is like water front property. It appreciates better during market upswings and depreciates less during downturns. The key to this location is not being too close to the electrical sub station. This one...is borderline, but still worth a look. Click on the satellite photo for proximity to the sub station. Outdoor transition and living spaces look nice. Interior needs some love. 







2129 23rd Street | $1,250,000 | More Details

With a lot size of only ~2800 SF, what you see is what you get. That means an awesome location near downtown, construction from this century, but only a one car garage. Due diligence: The layout is split, which you know could hurt you on resale, but maybe that’s a compromise worth considering.    




651 Maxwell Avenue | $1,225,000 | More Details

One of my first listings in Boulder was on Maxwell. It’s a spectacular location, especially west of 9th street. I wouldn’t hesitate to live there personally. Historically, this location has performed exceptionally well in the long run. In my old Wall Street analyst days, I’d call this a strong buy. This particular one is reasonably sized (1747 above grade square feet) and has a two car detached garage. Due diligence: It’s a little odd that the listing hit the market without professional photography (only one shot of the front?) and it’s getting a new sewer line.  







210 Iroquois Drive | $750,000 | More Details

A few years ago, I would never have recommended my clients consider homes east of Foothills parkway. Today, decent family friendly properties under $800K are in exceptionally short supply in Boulder. This one made the cut because three of the bedrooms are on the main (which works well for resale or rental investment), it’s close to East Boulder Community Park, and the bike overpass makes it a quick ride to downtown. Due diligence: SPD says flood damage from 2013, supposedly professionally mitigated. Make sure you ask for information using the due diligence document contingencies and have your inspector take a close look. 
















5140 Illini Way | $715,000 | More Details

The big advantage of bi-level layouts is the lower level isn’t completely below grade. Many first time buyers have found it tolerable to use the lower level for rental purposes. I’ve probably seen two dozen illegal kitchens in bilevels in the last few years. This one is in a decent spot, although it’s a little close to Foothills. Spectacular spot if you take RTD regularly. 











2641 Thornbird Place | $699,900 | More Details
Other than being named for a bad 80’s TV miniseries, this late 90’s constructed house is in a very desirable spot of Boulder. The esthetic of the neighborhood strikes most buyers as “cute.” This house has nice front and rear outdoor living spaces. The bike path and shopping center are directly east. Intelligent layout works well for future resale or rentability. Almost certainly will gather multiple offers. Due diligence: Evaluate the last dozen similar sold homes for % paid over asking and cash/loan ratio. All things are not what they may seem in this market. If your agent can’t provide the data, get a better agent. 






Louisville


1141 W Enclave Circle | $725,000 | More Details

Don’t let the eye-searing interior paint and interior flash photography scare you. This location is very private and has decent access to open space trails. Commute to Denver and Boulder job centers is reasonable. Under $200/SF!










956 Treece Street | $598,000 | More Details

Steel Ranch in Louisville is very popular with buyers. There’s not much available nor should you expect there to be much on the market this year. This one has a good layout. The landscaping needs some love. Due diligence: Train noise.  









Longmont 


3747 Florentine Drive | $449,950 | More Details

I’ve written this before and I’ll keep saying it. Renaissance is a value investor’s dream. 20 minutes to the Googleplex. Affordable prices. Relatively recent construction and ~600 or so new houses planned, mostly at higher price points. Plenty of open space and trails nearby. On the most popular cycling routes for Boulder. Full disclosure: I’m not just saying it. I put my money where my mouth is and bought an investment house in this neighborhood last year. I’m a Renaissance believer. Due diligence: This one backs to Clover Basin. Worth a look but I recommend waiting for one that is in a less compromised location in the neighborhood.







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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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