Friday, September 02, 2016

Dream Homes, Chautauqua Bargains, and More [Fresh Listings, Get 'Em Hot]


Miss us last week?   

We took a trip to California to ride the Pacific Coast Highway and watch Eddie Vedder perform at the Ohana Music Festival. If you ever have the chance, I highly recommend the campgrounds along the coast. Many have direct access to the ocean and the views are magical.

Now it's back to the grindstone. As expected, sellers who blew the summer selling season are now scrambling to find buyers. This week a few partially finished spec homes were listed along with five $100K+ price reductions in Boulder alone.  

Amid the sea of stale old listings and listings pretending to be new, a number of interesting new properties came to market. Here’s what’s worth seeing in Boulder real estate this weekend. As usual, let's start with a discussion of a few notable recent sales.

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


Sold Listings of Note


400 Utica Avenue | $4,795,000 | More Details
The buyer went 6.7% over asking for this stunning 2.1 acre lot with epic views. Click the link above for photos. Properties of this caliber come to market very rarely and the buyer of this one looked for over 2 years.








950 15th Street | $825,000 | More Details 
Every craftsman style historic house in Boulder gets a bidding war, right? Guess again. Despite only two weeks on market, this seller took a low ball and settled for $100K less than their asking price. It turns out that wishful thinking is not an effective marketing strategy. Who knew?  

It didn't help that at some point in the property’s history, the owner decided to maximize their cash flow by converting everything into a bedroom, likely without permits. 7 bedrooms in this Frankenhouse but zoned for 4 unrelated. That can be fixed. What can’t be fixed is the high red cup density in this location. It’s party central for CU students which translates into occasional late night noise and property vandalism. If the new owner tries to occupy it, expect it to be back on market in a few years. 

Due diligence tip: Always check recycle containers in the alley when considering a house on the Hill. 



3045 Redstone Ln 2D | $435,000 | More Details 
The listing agent nailed the staging on this property, netting significantly more than a similar property listed at the same time. Now that's effective marketing. I took my buyers to see it. We weren’t fooled by the choppy floor plan and lack of storage. Still, this sets a new high water market for well marketed town homes in Shanahan Ridge.  






Fresh Listings


BOULDER

1080 Juniper Avenue | $5,995,000 | More Details 
Double size lot, double size house, and double the price. No doubt, this is a stunning house but the location is an A minus. At this price point, I advise my buyers to only acquire when the home features spectacular views. It’s the only protection to reduce downside risk when the cycle turns. Protected views and direct access to open space are the equivalent of waterfront property in Boulder. See 400 Utica for an example (above). Buyers should also know that trophy homes this large are starting to fall out of favor. Worth a look if you’re shopping at this price point for comparison to new build or renovation of an existing property.   



470 Juniper Avenue | $2,125,000 | More Details 
Despite being 20+ years old, this house has classic architecture and beautiful finishes that have stood the test of time. The location is excellent, with close but not front-row proximity to open space and an easy stroll to downtown. The layout is intelligent, the house size is reasonable and the large lot should allow for future expansion if you need it. Large lots are one way to hedge against future restrictive zoning by an overreaching city council. Two car garage. I’ve already sent it to one of my buyers but as of right now, it’s available. 





340 17th Street | $1,495,000 | More Details 
At the asking price, they’re giving this house away. The location is excellent, with immediate access to Chautauqua open space and cultural events. Interior is dated but not embarrassing. Save some budget for the remodel but don’t wait. Jump on it.  








LOUISVILLE

921 Main Street | $650,000 | More Details 

A historic 3 bedroom house converted to commercial use. Main street in Louisville is a very desirable location for a variety of businesses. It would almost work for a primary home buyer to reconvert it but oy! Those taxes. Good option for a buyer who needs a downtown office with good foot traffic. 





337 Roosevelt Ave | $595,000 | More Details 
The location has excellent access to downtown and it’s a generous lot. The seller thinks you can build a duplex or an ADU based on their read of the zoning. Smart buyers always confirm during the inspection period. The structure is pre-war and although Louisville is far less protective of historic property than Boulder, it might still be factor. 






LONGMONT

1404 Cannon Mtn Dr | $649,900 | More Details 
A solid value for a large family friendly home. 15 minutes to the Google campus, 25 to downtown Boulder (off-peak). Only a few miles from the future Longmont Whole Foods. Decent elementary and middle schools. I’m a fan of this location, it’s a value play. Full disclosure: I own an investment house in an adjacent neighborhood. I'm bullish on southwest Longmont, but keep in mind the ongoing build-out will continue to expand supply for at least a few more years. 






801 Confidence Dr 17 | $295,000 | More Details
Modern 1,100 SQFT two bedroom condo in the hip Prospect neighborhood. It’s bigger than a typical entry level house in Boulder. Click above for the photos. It’s worth a look and likely won’t last. I’d buy it and live there myself but the Chairman of the Board demands a yard.   






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

Cover image: Joshua Earle

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