Friday, June 09, 2017

Downsizing Options, Historic Beauties, and Farm to Living Room Fantasies [Fresh Listings, Get 'Em Hot]


Some interesting eye candy hit the Boulder real estate market this week; a couple of historic homes in Louisville and Longmont, downsizing and family friendly options in Boulder, and even a fantasy farm just a few minutes away. 

Didn't you know? Farm to table is so 2016. Get ready to wear a straw hat, overalls and ride a tractor. How about your own baby-goat yoga pasture? Here's your chance.  

In all seriousness, the market is in high gear. There are lots of new listings and plenty of interesting price reductions. As usual - the most desirable stuff goes quick. 

Are you ready to see houses? Let's go!



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






Open Houses
Heads up. We're holding open houses this weekend! 

2560 Hawthorne Ave  
12 to 2pm, SATURDAY  Details

3725 Spring Valley Road 
12 to 2pm SUNDAY  Details


Sold Listings of Note


610 College Ave | $2.15MM | More Details 
This beautiful home was on the market several weeks before a buyer locked it down.I lived around the corner from this home when I first moved to Boulder, back in 2000, and it's still one of my favorite neighborhoods. A short walk up the hill and you're on Chautauqua trails. Take a fast bike ride to be downtown in about 10 minutes. This house was a nicely sized, with a layout that most buyers prefer, tasteful finishes, and a three car garage. If I were shopping for a forever home, it would have made my list. Deal notes: On the market several 27 days before an offer was accepted.  56 days from offer accepted to closing table, long for a cash deal.  No concessions.


988 Cedar Ave | $1.37MM | More Details 
A funky layout, poor curb appeal, and not a particularly large house at just under 2,900 SQFT. The value drivers were the premium Newlands location, the three car garage, and the potential for a mostly cosmetic renovation on a already extensively remodeled historic home. First listed last September, I took two different sets of buyers to see it. We couldn't get past the additional follow-on capital required to address the deficits. I found them smarter options (i.e no construction risk).



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



3240 Iris Ave G-209 | $300K | More Details 
Remington Post remains one of the most under valued income property complexes in Boulder. Finishes in common areas are worn out and underwhelming (at best). You have to get past the cosmetics to see the value. Here's the investment thesis: HOA fees are reasonable. It's easy to find tenants because of the central location, which should continue to improve as the 30th/Pearl location becomes a nexus. Recent transit investments have improved connectivity. Elevator access and layouts work for a variety of tenants and buyers. If you need to exit unexpectedly, this complex should remain liquid and continue to appreciate at a sustainable pace for the visible horizon.  Despite facing north and with construction underway across the street, this particular one went quick. It was available for only two days, cash buyer, sold at asking. Due diligence: Asbestos popcorn ceilings throughout the complex. Also, don't plan for the Diagonal plaza to be redeveloped any time soon. With so many owners involved, it would require the heavy hand of government to see it done. City Council is too busy burning money on the muni. 

Fresh Listings

Boulder 

3830 Newport Ln | $1.47MM | More Details 
Smaller 3 bed, 3 bath home in Wonderland Lake with direct access to open space. Some updates. Unfinished basement. Newport ends in a cul-de-sac. Last on the market seven years ago. The value driver is obviously the open space and location west of Broadway. 




2334 Spruce St | $989K | More Details 
Looking to downsize? Iron Flats should be on your list. Most units are nicely designed and solidly constructed, location is central with easy access to downtown and other retail areas. This particular unit has two bedrooms, three baths, a rooftop deck for entertaining, and secure underground parking. Several of my smarter clients have recently made the downsizing investment, while their kids are still home, with a plan to rent it out for the next few years. Due diligence: consider alternatives at Peloton, downtown, and Table Mesa.

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



5240 Holmes Pl | $929K | More Details 
A nicely size family house in Arapahoe Ridge, with four bedrooms on the upper level and partially finished basement. Mid 80's construction. A few updates but some refreshing needed. Arapahoe Ridge often makes sense for families who want a little more yard (separation from neighbors). It has decent schools and a pocket park that doesn't attract a lot of transients. It's also in easy proximity to downtown, BCH, and campus. Note: I already sent this to one of my clients who is considering leaving downtown for a little more space. Clients come first. If you're interested in becoming a client, call me at 303.746.6896.




1380 Fairfield Dr | $784K | More Details 
A larger 3 bedroom, 2 bath mid 60's ranch in Table Mesa. If you're looking for a good platform for a addition or renovation project, this should be on your list. Or wait for a future project, the finish quality and layout are livable for a variety of buyers/tenants. The location is excellent and values continue to drive upwards. The schools are the best in Boulder, the retail mix at Table Mesa plaza is the best in South Boulder, and open space trails aren't too far away. 




285 S 38th St | $750K | More Details 
A basic ranch with a basement that backs to Martin Park. Great neighborhood, easy access to retail to the north and south. With that said, it's also in the 100 year flood which limits both expansion potential and extensive remodeling (without expanding the footprint). If your agents forgets to mention that, find a better Realtor. This is for a buyer who is willing to take some location risk for additional privacy, also can adapt their expansion and remodeling plans for the flood plain. The space behind is used by the neighborhood as a walking path, but it's not officially open space. The new school is almost done. 



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



3355 Everett Dr | $735K | More Details 
Another larger ranch in Table Mesa. Not as nice as Fairfield (see above), smaller lot, but south facing which is better for passive/active solar and interior light. Vaulted ceiling is a plus. Galley kitchen, not so much. 



Louisville 


1009 Grant Ave | $738K | More Details 
A smaller historic home in the historic, downtown part of Louisville. Updating needed, but the location is right and Louisville is far less restrictive when it comes to renovations.



Lafayette

9760 Isabelle Rd | $1.49MM | More Details 
Live out your farmer fantasy on this 5 acre spread, just a few minutes from Boulder.  Come on. You know you've always wanted a tractor, barn, and a workshop.  Here's your chance.  

In all seriousness, if you're interested in a hobby farm, call me. There are plenty of options. Water access is one of the most critical factors for proper valuation.


Longmont 

5876 Park Ln Rd | $675K | More Details 
A nice size, family friendly house that backs to open space in Gunbarrel. Traditional layout with four bedrooms on the upper level, one in the basement. Updates completed during this century and it has a proper two car garage.  





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



646 Bross St | $625K | More Details 
A four bedroom historic home across the street from Roosevelt Park in Old Town. Interior looks livable.  12,000+ SQFT lot and four car garage. This won't last long - not at this price.  Due diligence:  There are trade offs for being across the street from a public park.  Yellow line streets, too. If your agent doesn't discuss them with you, find a better Realtor.




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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: Agence Producteurs Locaux Damien Kuhn

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