Friday, July 21, 2017

Modern Beauties and Entry Level Gems [Fresh Listings, Get 'Em Hot]


Modern design stands out in a sea of Boulder homes from the 50s, 60's and 70's. Often constructed on top of the bones of the former, they're a vision of clean design, efficiency, and minimalism. 

This week, two stand out.

In addition, you'll find a spectacular high-end trophy perched beneath Flagstaff, a large lot with a good foundation in Frasier Meadows, a rare artist's home in Eldorado, and a downtown multi-family investment opportunity. 

80+ homes hit the market in Boulder this week. Grab your slip-on shoes. Here is what's worth seeing. 


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



Sold Listings of Note



865 Kalmia Ave | $1.99MM | Pics 
Built in the early 90's, this moderately sized 5 bed, 4 bath home has nice entertaining spaces. The finishes are nothing special at this price point and there is no view (at least compared to this). Still, it sold quickly. The location might have something to do with it: a private enclave, west of Broadway, south of Wonderland Lake. Deal notes: Five days to offer, full asking, cash. 




2170 Hillsdale Cir | $1MM | Pics 
Wow. A large ranch with obvious deferred maintenance on a slightly larger than typical size lot in Table Mesa, subject to traffic noise. It drew a bidding war and crossed the $1MM threshold. Due diligence: Ranches are preferred for architectural flexibility, but a house with a stunning view is usually smarter for capital preservation at the end of a real estate cycle (hint, hint). Compare to 1380 Knox Drive which is still available as of this writing.




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



4628 16th St | $750K | Pics 
I was just telling Ian, one of our new clients, to keep an eye out for smaller detached houses near Holiday and Uptown. They're often underpriced and the neighborhood parks make up for the lack of a yard. There's great retail nearby and the location is likely to keep improving. This sale proves the point. Deal notes: Listed at $675K, sold for $750K with a conventional mortgage.  No concessions.





655 S 41st St | $690K | Pics 
A good data point if you're tracking the market for basic ranches with basements in Majestic Heights or Martin Acres (I'm looking at you, Joel.). This one has a partially finished, but painfully dated basement that didn't add any beds or baths. Decent location. 



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

Fresh Listings

Boulder 


815 Circle Dr | $4.5MM | Pics 
One whole acre in a spectacular lower flagstaff Boulder location, complete with a luxury home built with a wall of glass. Excellent views. Pro tip: Before you write an offer, ask your Realtor for an analysis of homes that sold over $3MM in Boulder and a value proposition for why this one beats out the others. 




1327 Balsam Ave | $2.3MM | Pics  
Some buyers want a home office. Others, apparently require a full board room at home. "Sorry kids, it's time for that HR meeting." Other than this unusual room, the house is a treasure of modern design with excellent indoor and outdoor spaces. The location is also a hotbed or renovation and supports the price point. Definitely worth a look.



3120 14th St | $1.9MM | Pics 
If you've talked to a builder lately, you know the probability of high construction costs and long timelines to completion. Or you can avoid construction risk entirely with this modern and turn-key home. The location is right too.  It's only three homes away from the Hawthorne Farm, right by North Boulder Rec and walking distance to Ideal. Remember: time is money. 




270 Lipan Way | $899K | Pics 
A dated mostly original ranch on a generous lot in Frasier Meadows House. Ask your Realtor to bring their architect to the showing. Negotiation tip: Don't expect to get a big discount. It's already priced like bare dirt.






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




265 Eldorado Springs Dr | $625K | Pics 
A unique home on a perch with special features. Few neighbors, close to the terrific Eldorado Springs Pool. Eldorado is a funky artistic community with it's own vibe. Rarely available.  






850 W Moorhead Cir 3-D | $260K | Pics 
A very affordable 1 bed, 1 bath in quiet South Boulder for under $300K. Remodeled in the last year with decent finishes. A good fit for a professional or student seeking quiet. Go for walks or runs on the cross country course on nearby CU open space. Enjoy it while you can. Plans are in the works for significant changes.





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


Louisville 


1078 Eagle Ct | $647K | Pics 
Your eagle has landed.  This is a solid starter family home, close to open space and a short bike to downtown Louisville. Nice location and awesome neighbors (personal friends).  





727 W Aspen Way | $530K | Pics 
Well maintained ranch with a finished basement. Decent finishes, charming and a more affordable 4 bed option. This particular style and layout of works well for downsizing Boomers or young families. North/South orientation is preferred for passive and active solar. Not sure if you've heard, but Louisville has a great downtown. The secret is out. 



Lafayette

2437 Lexington St | $635K | Pics 
Late 90's finishes in a family friendly, modestly sized house in a great location (end of the cul-de-sac) overlooking the golf course. The home has an open and livable layout and a reasonable price point. Great elementary school scores. 



Longmont 

1039 Neon Forest Cir | $895K | Pics 
Spacious 5 bedroom house in hip Prospect neighborhood with a rare 4 car garage + modern carriage house. Walk to Prospect restaurants. Offset your ownership cost by renting out the carriage house on a short or long term basis. Likely won't last long. With my motorcycles, I'm as a fan of large garages myself. Believe me, it's rare to find one in a beautiful, updated house for below $1MM. Especially in this neighborhood. Don't wait to go see it.


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



Investment Opportunities 


1723-1725 15th St | $2MM | Pics
A 4 bedroom house and a 6 unit building, all 1 bed, 1 bath. Two blocks from Pearl, 30 seconds to the farmers market. The listing claims "10 residential units or 2 commercial units and 8 residential units could potentially be built on site." While possibly true, you might want to familiarize yourself with regulatory risk in Boulder. Council has a habit of arbitrarily (and some would say capriciously) shutting down a new owner's development plans.  In short, don't bet on it.  Doubt me? Ask the owner of the old Robb's Music Store building. Council called up and quashed their plans for a high density, multi-use building. They took a bath. It's now a used clothing shop. As I told my Chiropractor today (while he cracked my back), the base case for this investment is the current cap rate of 4.62. When you ask your agent to write the offer, make sure they leave adequate time and contingencies for due diligence on the development potential. 


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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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