50+ properties hit the boulder real estate market this week - everything from affordable housing to one luxury downtown condo with a wishful thinking asking price of $3MM.
Only 9 made this week's cut.
Buyers - be cautious in the current market. It's not only an election year, unlike any other, but we're nearing the end of the real estate cycle. Intelligent selection and negotiation can reduce the risk of capital loss if you're forced to liquidate in the coming downturn. During the last down market, the high-end saw prices fall as much as 40% from the peak value. Yes, here in Boulder. If someone tells you different, they either don't know what they're talking about or they're trying to sell you something.
Remember: intelligent real estate decisions are based on deep market knowledge. If your broker can't provide that, find one who can.
So, what's worth seeing? As usual, I've culled the egregiously overpriced and the locations with a poor track record of appreciation. Here's the list:
To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.
Fresh Listings
Boulder
650 Hawthorne Avenue | Asking: $1.65MM | More Details
A turnkey completely remodeled Newlands "modern farmhouse," a few blocks from open space. The original structure was from the 1940s but supposedly the seller took it down to the studs and rebuilt it. The Nobo Rec Center and bike paths are just down the street. This location is not a quick walk to retail, but it's not bad either and downtown is only a 10 minute bike ride away. Three bedrooms are on the upper level, one is in the basement.
If you've had the pleasure of pricing contractors recently, you know that a fixed cost and not having to manage the project is the value proposition. Due diligence: The higher end market is characterized by higher inventory and more buyer leverage. At this price point, if your agent is pressuring you to go into the negotiation with guns blazing, get one that understands the market.
930 Lincoln | Asking: $1.6MM | More Details
Now for the good news: It's got a great 2 car detached garage with a studio apartment above it. For an enterprising buyer seeking a way to make Newlands more affordable, the extra income could serve to subsidize a mortgage payment.
The right buyer should be willing to invest another $300K to $400K to maximize the property value by building the detached garage and studio. Due diligence: Once under contract, your Realtor should take you to the planning department for a one on one discussion of what's possible with a City of Boulder project specialist. If your Realtor "doesn't do that sort of thing," find one who will.
1053 Albion | Asking $750K | More Details
Under market by at least $50K. It's a small student rental/entry level house with no garage but rents at $2200/month. The area is very attractive to students and young couples. If you can swing it, this should be a better investment than a 2 bedroom kiddie condo for your CU student. Expect this to go well over asking - assuming no major defects are found on inspection. No picture because it really doesn't matter.
Goose Creek condos remind me of upscale hotel rooms but hey, you're right on the bike path and minutes from your tread desk at the Google Campus. That should help it hold value in the long run. They also don't come on market often, don't wait to go see it.
----
Want this blog via email? Sign up HERE.
Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
Like our Facebook page
Follow us on Twitter.
As always, your referrals are deeply appreciated.
--
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: https://unsplash.com/@dinoreichmuth