Friday, May 26, 2017

High End Trophies, Investment Condos, and Rare Building Opportunities [Fresh Listings, Get 'Em Hot]

Bicycles and Golden Retrievers. Short of baby goat yoga, what could be more Boulder?
There's a lot to talk about in Boulder real estate this week. The summer season is upon us and the market has kicked into high gear. Are you ready?

First, in case you missed it, check out our latest market updates. Whether you're buying or selling, investing for your portfolio or for a place for your family, deep market knowledge is the only way to make intelligent choices. Our goal is to help you make a smarter real estate decision. 

Boulder Inventory and Condo Sales Up, House Sales Fall

A Deeper Analysis of Boulder Real Estate

What's worth seeing? Almost 100 properties hit the market in Boulder County this week. We've sifted through and picked the best of the best. These are properties worth your time, yes, even this holiday weekend. If you are serious about buying, you can't afford to miss a single weekend. Drag your family with you.  

For notable sales, we discuss several houses that recently closed in Boulder and why they're important market benchmarks. At the request of our clients, for the first time, we're also going to introduce our own featured listings. 


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




House Einstein Featured Listings

3725 Spring Valley Rd | $1.8MM | More Details 
Incredible, protected views over open space and excellent indoor and outdoor entertaining. Between Newlands and Wonderland Lake, minutes from downtown, not a winter driving challenge up a mountainous road. 






4091 Kingstown Pl | $865K | More Details 
Nicely updated kitchen, well maintained, in the highly desirable and family friendly Four Mile Creek neighborhood. South facing, functional, well designed, and under contract.









2560 Hawthorn Ave | $775K | More Details 
North/south oriented ranch with a tastefully updated kitchen and large family room addition on the back of the home. Minutes from Google and downtown. A good option for pop and remodel, or downsizing Boulderites. Excellent walk, bike, and transit scores.  




235 Fox Dr | $710K | More Details 
Turn-key, end unit town home with wonderful updates, in great condition. Rare two car garage and full basement with included workshop. CU is a 10 minute bike ride away. Easy retail options in three directions. Chancellor's residence for social trails or head up the Bear Creek path. Want the feel of a house without the upkeep and yard work? This one is for you.      



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


Sold Listings of Note


1425 King Ave | $3.1MM | More Details 
Modern and updated throughout. A coveted spot in Boulder. On the market just five days before a buyer snapped it up at full asking. The seller gained about 38% over their 40 month holding period. From an investment perspective, the Bellevue location is an amenity due to its proximity to Chautauqua, offering some downside risk protection. For capital preservation at this point in the real estate cycle, we strongly advise choosing assets that are in prime rather than improving locations. Rather than buying a 18-24 month remodeling project, the buyer also avoided construction risk by going with a turn-key option. 


14169 Augusta Dr | $1.2MM | More Details  
We viewed and evaluated nearly every luxury house in this price range for our buyers in Boulder, Niwot, Longmont, Golden, Broomfield, and beyond. We found them a gorgeous family home right on the golf course. Beautifully finished inside with en-suite baths for every bedroom, spectacular dining and entertaining areas, and a recently refreshed exterior. It was originally listed at $1.45MM. After several price reductions, we negotiated a nearly 8% discount to the last asking. It was a pleasure to represent this savvy buyer and his family. Note: Link above is old because the listing agent failed to list it on the primary, regional MLS. It was only on the Denver MLS.



3000 24th St | $740K | More Details 
Tastefully updated, basic ranch on an average size lot. Close to the Rayback Collective and Movement Climbing Gym. East/west orientation, not in the 100 year or 500 year flood zone. This is a good comp for other basic ranches in North Central Boulder. A decent platform for a pop and remodel or downsizing option with retail within walking distance for empty nesters. It went for $10K below asking after 5 days on market. Note: north/south orientation is preferred for solar pv as well as compliance with Boulder's increasingly restrictive development rules that limit shadows on your neighbors.  


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

Fresh Listings

Boulder 

2669 4th St | $3.49MM | More Details 
Brand new, modern and open 5 bedroom, 5 bath with Sanitas out your back door. Not much privacy with homes on either side. This is the first spec home we've seen hit the market at Trail Head. When it sells, it will be a good gauge for buyer appetite in premium locations, with high-end finishes, and modern design. If this is what you want, don't wait to go see it. There isn't much else that compares and is currently available.



805 29th St 511 | $489K | More Details 
A 3 bed, 2 bath. More dated finishes. Some mountain views. Spanish Towers have high investor and student density. With an HOA of just under $300/month and a location that brings in the kids, this might be a good CU kiddie condo or investor play. Most 3 bed attached dwellings in Boulder are priced well above this point. Offers are due by Memorial Day. 


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




3240 Iris Ave G-209 | $300K | More Details 
2 bed, 2 bath in Remington for $300K. We already saw it yesterday, the first day it hit the market. If you can get over the run-down aesthetics at the complex, the interior of this one is in pretty good shape. The asbestos containing popcorn ceilings are still in place, so be sure to budget for that in the near future. Location is a draw for professionals and older tenants, but not as attractive for students. Garage with elevator access is a plus. The construction across the street will result in a nicer bike path, soon. As has been the case for many years, the numbers usually work for investors at Remington Post but the complex feels old and a little worn down. 


Louisville 

300 Spruce St | $1.4MM | More Details 
An elegant, updated home with solid indoor to outdoor flow. Walking distance to downtown. It's a good example of the upper threshold of what's possible when renovating in downtown Louisville. There is support for the price point.  Update: Snooze you lose, it's already under contract after just one day on market. 

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

Longmont 

4514 Portofino Dr | $490K | More Details 
A nice house in Renaissance with tasteful updates on the main. Some road noise from Clover Basin and busy during Elementary school drop off and pick up times, but there's a bike path and open space buffer. Lots of trails and open space nearby. Oscar Blue's Cyclehops is your nearest retail option. Full disclosure: I own an investment property in Renaissance. My thesis is that it's an affordable family friendly neighborhood within easy commuting distance to Boulder, decent schools, and on north Boulder's best cycling routes.


Niwot

8780 Skyland Dr | $959K | More Details
If you need a bigger house but want to keep it under $1MM, this is a solid option. Some updates and close to Niwot Elementary and local eateries. If you haven't been to downtown Niwot lately, check it out. I highly recommend 1914 House. Niwot also has a regular summer concert series. It also has many walking paths and bike trails. 



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


Vacant Lots and Land 

1517 Main St | $299,900 | More Details  
A large 3/4 acre lot near downtown Louisville, priced at a discount. Check for building restrictions. Also check your tolerance to being so close to the school. Lots in Louisville are rare, so better move quick. 



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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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