Friday, January 13, 2017

The TOP Boulder Real Estate Sales of 2016 (Deal #3)

by Osman Parvez
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Drive out of town on Lee Hill Road into the foothills, and you'll pass some of the most spectacular and exclusive real estate in Boulder. Wineglass Ranch comprises five large parcels on the north side of the road, each with 5 to 8 acres of land, directly abutting City of Boulder open space. 

415 Lee Hill Road was the #3 top deal of 2016. 

Note: This post is part of a series highlighting the top real estate deals of 2016.  Top sale #4 is HERE

415 Lee Hill Road | $5.9MM
Sitting on 5+ acres of exceptional Boulder real estate, the main house sprawls over 8,000 SQFT.  Constructed in 2014, it features four bedrooms and eight baths, a pool house, barn with a second garage and home office, and a "school house" with a full kitchen. 


Click HERE for the eye candy.

Deal Notes: Aggressively overpriced, it was first listed at $7.5MM in the spring of 2015. The seller eventually came to their senses and slashed the price to $6.5MM in May of 2016 before finally accepting an offer for $5.9MM.  

Discounts do not increase desirability. Price it right for a shorter listing period and maximum value, or overprice and chase the market. This deal illustrates the point. 

By the way, if you had bought this Wineglass Ranch trophy last year, you could have leaned over your back fence and chatted with David Jacobs, founder of Spyder. You could also buy his house.  It was on the market last year for $7.25MM .

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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. 

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