Friday, February 03, 2017

Discount Turn Key Dream Homes, Lock and Leave Living [Fresh Listings, Get 'Em Hot]


Nearly a hundred property listings hit the real estate market in Boulder County this week. Here are the ten best homes to check out this weekend. 

We've also included a few notable sales and one, just one, refreshed listing worth a second look.   Ready to see some houses?  Here we go!



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



Sold Listings of Note

7531 Spring Dr | $1,650,000 | More Details 
Listings in Spanish Hills are rare. It's a location that offers exceptional views, easy commuting, and exclusivity. This beautiful home was completed in 2013. It's picture perfect only because the pictures failed to show the power lines in the view corridor. Take home lesson: Classic over-reach. A wishful thinking asking price resulted in a big discount and a long time on market. Never hire a realtor who pitches an unrealistic price. First listed at $2.2MM, it sat on market for nearly a year and went through 2 price reductions before finding a buyer.  It sold for 11% below last asking. What's that?  Your Realtor doesn't think you should offer less? Find one who loves negotiation.



870 15th St | $1,150,000 | More Details 
A good comp for Uni Hill. Updates are nice, it's reasonably sized, but no garage (carport instead). The lower level rental unit had the potential to offset ownership costs, broadening its appeal to more buyers. Deal notes: Sold for asking, available for only 3 days before going under contract.





1365 Meadow Ave | $1,005,000 | More Details 
Mid 70's construction, south facing on a big lot with a great view.  Those factors translated into a January bidding war for would-be buyers looking for renovation projects in North Boulder. Deal notes: 5 days on market, wildly under-priced, sold for 18% over asking, cash, closed in 2 weeks. Boom!




Worth A Second Look

855 Timber Lane | $2,378,500 | More Details
We rarely publish old listings unless something changed to make it worth a second look. This spectacular house is in a coveted location. Beautifully designed to frame the view, it's a trophy built around a view. Plenty of space for family and guests. 5 acres of prime Boulder real estate. Why it made the list: The seller just slashed the price by $661,500.  That's a 21% price cut. Go see it before it's gone. 

Remember: To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market trends, call Osman at 303.746.6896.



Fresh Listings

Boulder 


1480 Upland Ave | $3,950,000 | More Details 
This spectacular house is located on a generous parcel, just north of Lucky's and not far from Wonderland Lake open space.  It has a lot of high-end features, beautifully designed, and functionally turn-key. Due diligence: Explore the cost of burying the power lines to improve the view. Word on the street is that it can exceed $50K. Also, homes valued above $3MM are rare and deserve special scrutiny. See my post on last year's top 10 sales.

1590 Cress Ct| $1,950,000 | More Details 

You've probably never been on this street before. It's a little cul-de-sac of high end homes, located just north of Linden, on the east side of Broadway. The mid-70's era construction, a large lot, and north/south orientation are what buyers want when they're looking for good bones for their dream home. This one has a killer view whichi will help preserve its value when the market turns.  


Remember: To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market trends, call Osman at 303.746.6896.



343 Dakota Blvd| $1,900,000 | More Details 
You could buy 1590 Cress for $2MM (above) and then sink another $1.5MM into designing and building your dream home, or you could just buy it already mostly done for $1.9MM.  Invest many $200K into high end features and finishes. Which sounds like a better value?  The view corridor may not be as spectacular and you can't stroll to Lucky's Bake House, but if you choose this one, you also won't be stuck managing a major construction project. And who needs those carbs anyway?



2445 Junction Pl 304 | $639,000 | More Details 
Now that construction is mostly complete at Boulder Junction, you won't be taking a risk that the project will turn out horrendous. What you see is what you get, and what you get is pretty darn good. It's also a short walk to the Google campus, which will make it easy to rent to high quality tenants or sell it, if your life plans change.  It's about the size of a basic ranch, only two years old, and turn-key.  



1289 Yellow Pine Ave| $525,000 | More Details 
Multiple offers are already on the table for this beauty, so if you're interested you better move fast. Mixed-use remains popular, offering a nice balance between home, work, and retail. Spruce Confections is right around the corner. Boulder's best cycling routes are just to the north. It's also priced well below market - nearby Uptown Broadway units are $600+.  Pro-Tip: If you were my client, you would have had this listing in your e-mail days ago. Serious buyers see property within 24 hours of listing.



500 Mohawk Dr 704 | $387,500 | More Details 

Q: How many 7 floor residential buildings exist in Boulder?

A: Not many.  And the risk that Boulder is going to kill the height limit ordinance is minimal, despite the YIMBY effort to radically increase density.  Click the link above for the view. 

The interior is horribly dated, save some budget for updates. At the asking price, this one is a no brainer. Expect a bidding war. Call your Realtor


3025 Broadway St 31 | $385,000 | More Details
I love the location and the design of most units in this complex. If you can get it, the top floor is preferred and the units on the back side are far quieter (further from traffic noise). Due diligence: Years of low HOA fees and little maintenance eventually caught up with this development (it always does). Be sure to check the HOA minutes, financials, and talk to residents. There may be pending litigation still on the table.

Louisville 


219 S Cleveland Ave| $542,500 | More Details 
For the price of a basic ranch in Boulder, you can get twice the square footage, a two car garage, and be past the era of most environmental issues like lead based paint. Open space is across the street, Louisville's charming and historic downtown is a short bike ride away, and it's an easy commute to work. Finishes could use an update, they look original. Pro tip: Boulder isn't the only desirable small city on the Front Range. Louisville also wins awards.



Longmont 

521 Gay St| $1,150,000 | More Details 
A similar home in Boulder would cost 2.5 to 3.5X, at a minimum. If you're a believer in the Longmont investment thesis, you need to see this one.  It's not just a house, it's a cultural asset to the community.


Niwot

7294 Gold Nugget Dr| $839,000 | More Details
Here's a relatively inexpensive entry point into Niwot. Generously sized, good layout, three car garage, backing to farm land and it's in great public schools. The drive to Boulder is reasonable and the small retail center in Niwot continues to improve.  Finishes could use an update, but it's not in bad condition. 



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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: Ravi Pinisetti

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