Friday, March 10, 2017

Unicorn Downtown Condos, A Craftsman on the Hill, and a Tale of First Time Buyers Who Find a Home


This week, we helped a young professional couple buy their first home in Boulder.  Although we've already closed many deals in the first quarter, this one felt special. It wasn't the fact we beat many competitive offers, bidding wars in this price range and location are normal. It was the fact that the property works exceptionally well for these buyers and their objectives. It's not their dream home. It meets their needs, fits their budget, and years from now, when they move up to a "forever home", it will be a nice income producing asset in their investment portfolio. It was a smart real estate decision. 

Success is always defined by our clients. For some, it's maximizing the sale price and downsizing. For others, it's finding a place to raise their family. It could be a dream home, the one they've pinched and saved to find. It might be safe place for their child to sleep and study while they attend CU.

As we start to move towards the end of the 1st quarter, the Boulder market remains active with exceptionally low inventory. Serious buyers and sellers know there is no short-cut to seeing real estate in person. Time is short. There are a lot of not so great houses. The following are the best homes to hit the Boulder real estate market and, to better educate you, a discussion of notable sales. 



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




Sold Listings of Note

2430 Briarwood Dr | $1.31MM | More Details 
Devil’s Thumb is a neighborhood within Table Mesa with larger homes on bigger lots, some of which have been nicely updated. This isn’t one of them. You know it’s bad when the listing agent doesn’t provide interior photos. The new owner will likely complete a full gut and remodel at some point in the near future. The lot size can support an expansion as well. Although the listing photos show expansive open space, don’t be fooled. It’s on a quiet cul-de-sac, but not directly adjacent to open space. The sale sets a good benchmark for an original condition two-story on a decent size lot in Devil’s Thumb, not in proximity to the electric transfer station on the other side of the neighborhood. 


810 Zamia Ave | $1.05MM| More Details 
Trail Crossing is a new development, right off Lee Hill road in North Boulder. It’s directly adjacent to Wonderland Lake open space. Retail at Uptown Broadway and Holiday is attractive and a short stroll away. Builder inventory sold out very quickly at this development. This enterprising owner paid $892K last summer and made a quick $165K, with an ownership period of only 8 months. Sold for $1,057,500, 3.8% below asking. 




1355 Ithaca Dr | $850K | More Details 
With Boulder’s best schools, exceptional open space, and a recently revamped retail center - Table Mesa has one of the most active markets in the city. This sale sets the new valuation benchmark for a ranch with a fully finished basement, in decent condition with mild updates, on a slightly smaller than typical size lot. Sold for asking, multiple offers, 4 days on market.  


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

2336 Spruce St A & B | $2.01MM | More Details 
This condo is a unicorn.  About 3,500 SQFT, all on one level with two underground parking spaces, a few blocks from downtown on a popular street, filled with historic homes. Greenleaf park is a minute away. It features high end finishes, an elevator, and large private outdoor spaces with good indoor/outdoor transitions. Handicapped accessible. This will not last long. If you're serious, move quickly. 



907 11th St | $1.57MM | More Details 
A historic craftsman style home that appears to be nicely updated with a (unprotected) view corridor. Studio in the basement is a nice touch. No garage.  
Due diligence: Don’t base your plans on having a legal ADU or adding a garage without a trip to the city planning office. Ask your Realtor to take you.

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


4275 Eutaw Dr | $1.15MM | More Details 
A moderate size mid 60’s, four bedroom house on a large corner lot in Frasier Meadows. Some updates. Vaulted ceilings create a sense of spaciousness. Extensive landscaping. Boiler, not forced air, a plus for those with sensitivities to dust and other allergens.   
Due diligence: analyze the valuation with comparables in the neighborhood, adjusted for lot size and updates. Check for traffic noise issues from nearby US 36. 



2616 7th St | $1.01MM | More Details 
A little Victorian in an excellent location in Mapleton Hill.  Small is beautiful, it still fits the needs of a variety of buyers and won’t last long. Due diligence: historic homes require much deeper inspection. Pay particular attention to electrical and foundation issues


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


3000 Broadway St 9 | $525K | More Details 
Similar in size and function of the house above at about half the price.  Sure, Broadway is busy and the traffic noise is endless, but it's still quite rentable. Finishes look updated sometime recently. 






4879 White Rock Cir A | $330K | More Details 
A ground level 2 bed, 2 bath condo in Powderhorn. Flooring has been updated. Set up well for roommates. 




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


2727 Folsom St 319 | $329K | More Details 
This 2 bed, 1 bath condo has been the scene bidding war mayhem this week. Multiple offers are already on the table, will likely be under contract by the time this blog post is published. 





Lafayette

793 Snowbird Ln | $815K | More Details 
A reasonably sized 3 bedroom, 3 bath with a master suite on the main level. The real draw is that it backs to the golf course at Indian Peaks and is a short commute into Boulder. Appears well maintained. 


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



Longmont 

 3921 Iron Ct | $715K | More Details  
Lake Valley is a hidden gem, overlooked by many Boulder buyers because of its Longmont mailing address. This is the first neighborhood north of Dakota Ridge, directly accessible to open space. It features rolling terrain, large lots, and a golf course.  Even if you don't play, it's an appealing place to live.  This 5 bedroom, 4 bath house is spread across ~4000 SQFT and includes a 3 car garage.  Kitchen update is nice but some of the other finishes could use an update. At this price, don't expect it to be on the market long. 


Niwot

7147 Overbrook Dr | $760K | More Details
A ranch style house on a large lot in Niwot. Some updates. Priced well. Lots of nearby trails, easy commute into Boulder, or just hang out in Niwot for small town charm. 


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





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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. image: Hernan Sanchez

2 comments:

  1. Google leased space for 200 more jobs in boulder. Does that make a difference for market or is it in the noise?

    ReplyDelete
  2. Hi Reid. Thanks for commenting.

    I think 200 well paying jobs is a significant addition to Boulder's workforce, yes. Google's impact is much larger due to the buzz around it, however. The buzz dwarfs the real number of additional buyers and tenants in our market.

    My bigger concern these days are the budget cuts that affect scientists studying climate change. Jobs at NOAA and many other related organizations are on the line. I haven't seen an analysis of the number of jobs that could be lost in Boulder. Have you?

    ReplyDelete