Friday, June 30, 2017

Fresh Listings vs Fireworks? You Choose [Get 'Em Hot]


Happy Independence Day Weekend. I hope you have big plans to spend this time with your family and friends, get outside, and enjoy the beauty of Colorado. Unless you're home shopping, of course. If you're a serious buyer, this weekend is an opportunity. 

In the real estate world, holiday weekends are usually slow. Many buyers have plans with friends and family, which is why listing a new property during a holiday weekend is not usually a good idea. 

For buyers, there is less competition in the market. If you're serious, skip the BBQ and call your agent. Get out there and see houses. This could be the weekend you find your dream home. You may even avoid a bidding war.  

To save you time, I've analyzed the new listings that hit the market this week and highlighted my favorites. You'll also find several notable sales below, with a discussion to educate you on market conditions, plus our featured listings.



To schedule a private showing, which includes a discussion of valuation, negotiation, and where to watch the fireworks, call Osman at 303.746.6896.


Sold Listings of Note

2285 Knollwood Dr | Sold: $2.36MM 
Just outside the city limits, but in a spectacular downtown location, the value of this property was in the large 1+ acre lot and mid 60's (not historic, scrapable) existing structure. With a backyard directly adjacent to hundreds of acres of open space, the result is an extreme sense of privacy. It's the perfect spot to construct a dream home, free of the city's burdensome regulations. Deal notes: On the market just a few days before it was snapped up, just below asking, not cash. More Details 

1516 Columbine| Sold: $1.98MM 
This 5 bedroom, 3 bath historic home is situated on a double lot on a quiet street just below Chautauqua. Tastefully updated on the inside, conservative on the outside, which is what many affluent buyers prefer. Ostentatious displays of wealth are not common in Boulder. Deal notesTrust is the most critical factor for high-end transactions across industries. Having your listing pre-inspected creates trust between buyer and seller, which is why we recommend it to all of our sellers. This property sold for asking, cash, five days on market. More Details 


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


4091 Kingstown | Sold: $865K 
Four Mile Creek is popular with buyers who want a newer home in a good location, but don't want to go through the hassle, delays, and cost over-runs of a major renovation. This south facing home featured a good layout, beautifully updated kitchen, and an unfinished basement to accommodate a growing family. Deal notes: Just like 1516 Columbine, the home was pre-inspected. We represented the sellers and the deal closed for asking. Closing Pic.


Price Reductions
Compelling properties with new prices.


3265 Lafayette Drive | Asking: $4.25MM  
Eye candy alert! We've blogged about 3265 Lafayette before: a spectacular, turn-key, high end home in an excellent location with 5 bedrooms and 7 baths spread across a luxurious 6,500+ SQFT. Built to highlight the eye-popping views, it's without a doubt one of the best homes to hit the market this year.  Heads upWhen one of Boulder's highest volume brokers slashes the price $325K on her own listing, you know the summer selling season is nearing an end.  More Details




Featured Listings
These are our listings. Here's why you should buy them.

Boulder 


3725 Spring Valley | Asking: $1.8MM  
This home has spectacular south facing views overlooking City of Boulder open space, unlikely to ever be developed. Built to entertain, it features excellent indoor and outdoor living spaces. Step out your front door and onto Wonderland Lake trails. Want to hike and then enjoy dinner downtown? Take the Cairn trail to Sanitas and finish with fine dining on Pearl. Unlike many of the homes immediately to the west, this beauty is easy to access year-round and truly just a few minutes to downtown. Remember: when the market nears the end of a growth cycle, it's important to choose assets with an eye to capital preservation. Premium locations such as this one hold their value better during downturns and appreciate more strongly during upswings.  More Details

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


235 Fox Drive | Asking: $695K  
This well maintained, tasteful 3 bedroom, 3 bath town home is the end unit in a triplex. The south Boulder location is in close proximity to CU, the bike path, and a mix of retail options.  You get a rare 2 car garage and minimal exterior maintenance for a nearly lock and leave lifestyle. Frasier Meadows is a desirable neighborhood, with larger lots and up-market homes.  The layout works for a variety of buyers or tenants, but it's really a perfect home for a buyer looking to downsize, enjoy travel instead of maintenance, and keep a residence in Boulder.  More Details.


2560 Hawthorn | Asking: $770K
A 3 bedroom, 2 bath ranch in a good location, not far from downtown or the new Google Campus. It has a beautiful addition with a vaulted ceiling, among other tasteful updates. Ranch style homes of this vintage in North Boulder are also the perfect platform for a future renovation. Note: We have an accepted offer on this property, the status will be changing later today when the earnest money is received.  Backup offers are welcome. More Details.

Fresh Listings

Boulder 

1505 Pearl #210 | Asking: $975K
Old Boulderites may still miss the hodgepodge shop that occupied the corner of 15th and Pearl for decades but the building that replaced it features a variety of much nicer retail options (coffee shop, restaurants). The upper floors feature well appointed residences. This two bed, one bath condo is a little over 1,200 SQFT (larger than a typical ranch in Boulder) and includes an underground parking space. It last sold for $600K in 2009 (5.1% unlevered IRR, low for downtown).  More Details 

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


555 Granite | Asking: $969K
The build-out at Boulder's most northern neighborhood, Dakota Ridge, died out during the last real estate market downturn. A small number of lots were left undeveloped. Builders are now back at it to finish the job. There are several of these high-end town homes to choose from. The location will likely continue to improve as part of the North Boulder Subcommunity Plan. Current retail options include Spruce Confections, Protos Pizza, Bacco, 4580, and of course - the Amazing Garage and the soon to be redeveloped strip club (enjoy it while you can). More Details 



1169 Monroe | Asking: $420K 
A solid investment location, directly adjacent to CU's research park and on the bike path. These 2 bedroom, 2 bath town homes make for good rental properties or CU kiddie condos.  The layout works well for roommates. Due diligence: Construction quality is stick frame and a little thin, middle units have awkward entrances through the carports, and the color scheme at Park East Square reminds me of my childhood on Saturday mornings.  More Details 


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



1895 Alpine | Asking: $359K 
I love this location and the price is right for a 2 bedroom, 1 bath property. The flood also hit this part of Boulder fairly hard. Due diligence should include a thorough review of mitigation. If you're an investor, you should also model the impact of flood insurance costs on your returns over time. More Details.   



Louisville 



300 Spruce | Asking: $1.45MM
Wow is this a beautiful house. It features beautiful indoor and outdoor entertaining spaces and close proximity to downtown. It's also why we recommend submitting backup offers and being deeply cautious about accepting contingent contracts. Buyer #1 tied it up with only 1 day on market but bailed after they couldn't sell their existing home. Did you miss it the first time around? Here's your chance. Due diligence: A thorough analysis to verify the location can support the valuation. Also check the flood maps. More Details 

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




821 La Farge | Asking: $469K
This historic bungalow with 2 bedrooms and 1 bath is only 660 SQFT. With that said, it's a spectacular spot, directly adjacent to the thriving downtown. Did you know Louisville has no short term rental restrictions (yet)?  Were you thinking of downsizing in the future? Hint, hint... More Details 





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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: Priscilla Du Preez

2 comments:

  1. Just curious - do you think the prices for the new construction Condos in Dakota Ridge are viable? Townhomes go for this amount in the area, but these new condos have neighbors above or below, and may also be adjacent to a busy community pool...

    ReplyDelete
  2. Depends on finish quality, what's included or not. Some builders pitch low and then charge $100's in extras. Others include nearly everything in the price. The location can support higher-end in general.

    ReplyDelete