Friday, June 16, 2017

Epic Views and Platforms for Dream Homes [Special Father's Day Edition]



Hey, it's Father's Day weekend! While you're out celebrating with Dad or otherwise honoring your father, you might want to add a few showings to your itinerary. 

Sorry Dad. Mr. market waits for nobody. 

Well over 100 new listings hit the Boulder real estate market this week. There were also a number of interesting price reductions and notable sales. Below are the best of the best, properties worth seeing and deals worth noting. This is also the time of year when serious sellers start to make price adjustments, so I've included a few you should keep your eye on.  

Ready to look at real estate? Let's go!

To schedule a private showing, which includes a discussion of valuation, negotiation, and what your dad really wanted for Father's Day, call Osman at 303.746.6896.


Sold Listings of Note


318 Timber Ln | $2.3MM | More Details
 

 Buyers in the $2MM+ category should expect premium locations, exceptional finishes, and design that melds indoor and outdoor living. This one checked most boxes. The winter drive and enhanced fire risk are the only obvious caveats to an otherwise seamless execution. On the market only 3 days, sold at full asking. 

1905 Vassar Dr | $1.62MM | More Details
A large south-east facing lot, abutting iconic open space. The existing ranch style with a full basement was in decent condition but otherwise unremarkable. Expect to see the buyer invest follow-on capital for a complete renovation/revitalization. The location didn’t really merit a bidding war. It’s against busy Table Mesa drive on the way to NCAR, but the accessible open space is spectacular. Perhaps we’ll see the new owner install a noise blocking stone fence, like the one for the trophy estate under construction on Iris Avenue. 1905 Vassar drive sold for $1.6MM, 8.2% over asking, cash


To schedule a private showing, which includes a discussion of valuation, negotiation, and clothing gifts your dad won't wear, call Osman at 303.746.6896.

450 S 40th St | $735K | More Details 
Another extra large, “Martinique” in Martin Acres. Some updates. A good benchmark for comparable ranches. Easy stroll to Lucky’s, Sweet Cow, and Southern Sun. Bike path is around the corner. Bus stop is a 2 minute walk. Note: basement bedroom windows are non-conforming, add about $3K per to make it safer. The layout of the Martinique is conducive for generating rental income from basement living space, a plus for buyers seeking supplemental income or to offset their ownership expense (thanks for the tour, Joel!). 

4645 Broadway St B-9 | 520K | More Details 
A 2 bed, 3 bath mixed use property with office space on the lower level. I’ve shown units in this building a number of times. The challenge is that despite the desirable west of Broadway location and easy access to Wonderland Lake open space, you're still surrounded by storage and other less than eye-pleasing industrial use. As the location continues to turn-over, expect the surrounding area to be redeveloped. City staff have big plans for the north Boulder subcommunity. Deal notes: Went under contract during the first week on market. Buyer #1 flaked. It found a second buyer about a month later and sold for $520K, or 2.8% below asking. Miss this one? If you’re looking for mixed use, live/work, consider this listing next to our office on 13th Street. It has no affiliated requirement for business tenancy, which means you can rent out the street level office for supplemental income rather easily. 

House Einstein Featured Listing 


235 Fox Dr | $695K | More Details 
Turn-key, lovingly maintained end unit. All the features of a single family home without the maintenance. Walk to retail. Easy access to bike paths, open space, and CU. Two car garage. New price!

Open House this Sunday, June 18th from 12-2pm.
 



Back on Market and Notable Price Reductions

Boulder 

3135 4th St | $1.65MM | More Details 
Originally listed in July 2015 at $1.8MM, the property has been on and off the market during the past two years. The most recent cut was substantial, dropping from $1.73MM to $1.65MM. 4th Street gets some traffic, both cars and bicycles. A little on the small side, but with a good layout and decent finishes. Worth a second look. 

To schedule a private showing, which includes a discussion of valuation, negotiation tactics, and the fact that Richard Nixon signed Father's Day into law, call Osman at 303.746.6896.


1985 Bluebell Ave | $1.47MM | More Details 
A ranch style home with an addition, this 5 bedroom, 3 bath was originally listed in March at $1.53MM. In May, the seller cut the asking price and it quickly went under contract. Buyer #1 exited after 14 days. It's now back and worth a second look. The location is excellent, with an easy walk to Chautauqua or Base Mar plaza. The lot size is reasonably sized. Due diligence: Flood issues from 2013. Buyers should check for proper flood repairs and mitigation. If your plans include an extensive renovation, as your Realtor to bring an architect to the second showing for a feasibility study.   

6177 Olde Stage Rd | $939K | More Details 
A tasteful home in the lower Foothills. Remodeled, vaulted ceilings, large deck and Flatiron views. Has a separate cabin. Originally listed at $989K in April, the seller has been steadily cutting the price every few weeks. Due diligence: Traffic noise from vehicles gunning it up Old Stage. Defensible space and other fire mitigation strategies.

Fresh Listings



Boulder 

1579 Linden Dr | $1.08MM | More Details 
Modern, tastefully updated, terrific views looking east. For under $350/SF, you're getting a turn-key three bedroom, five bath home that was remodeled only a few years ago. That sounds like a value play to me. It's up Linden Ave, but not so far that you'll need a Unimog for the winter. It's a fast trip down and into Boulder. The perch is pretty spectacular and the design of the home appears to accentuate the view. Definitely worth a look. 


To schedule a private showing, which includes a discussion of valuation, negotiation, and why it took 40 years longer for Father's Day to become a national holiday compared to Mother's Day, call Osman at 303.746.6896.

4718 16th St | $795K | More Details 
Sophie grew up in a cohousing community, and we've helped several of our clients buy and sell cohousing in Boulder. You could say our team knows a lot about it. Wild Sage is a highly desirable community in a very walkable North Boulder location. Homes in Wild Sage are rarely available on the open market. This 3 bedroom, 3 bath end unit town house has decent quality finishes. See it before it's gone.  If you have questions about cohousing, ask Sophie. 

160 Seminole Dr | $749K | More DetailsThis property has 6 conforming bedrooms, an open layout, and it's away from traffic noise from Foothills Parkway. It's perfect for a forming co-op or a large family, with a price that won't break the budget.  It has some tasteful updates, too. Compare location and finish quality to recently sold 450 S 40th (see above). 


670 Hartford Dr | $698K | More Details 
Upper Table Mesa, in Boulder's best schools, with a location that's an easy stroll to quality retail. It's a basic 3/2 ranch with some mild updates and a sun-room. The value is in the north/south orientation, mid 60's construction date (i.e. not historic), and location dense with renovated homes. Lot size is typical, price is right. With $400K improvement budget, this is probably a good platform for your dream home. Ask your Realtor to bring their architect. 

To schedule a private showing, which includes a discussion of valuation, negotiation, and how you're still not living up to your father's expectations, call Osman at 303.746.6896.

4628 16th St | $675K | More Details 
A small, detached home in North Boulder. Small yard, decent finishes. 1 car garage.  These houses are a value play. Built only a few years ago, they feature functional layouts and efficient design. Don't let the smaller square footage fool you. Neighborhood parks make up for the limited yard space. Easily walkable retail includes a handful of nice restaurants.

3860 Colorado Ave A | $640K | More Details 
A reasonably sized 3 bedroom, 3 bath at Wellman Creek. Vaulted ceilings, decent finish quality and a main floor master. Close to CU, near pleasant walking trails. Due diligence: Prices have risen quickly at Wellman Creek. Be sure to closely analyze the comparables sales before writing an offer. Compare to the single family house at 4628 16th Street and our listing at 235 Fox Drive (both above).

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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: Naassom Azevedo

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