Saturday, June 24, 2017

Glass House Eye Candy, Mansions with Views, and Historic Beauties [Fresh Listings, Get 'Em Hot]


It's been a busy week. Not because I was working, mind you. In the real estate business, we work on the weekends and take our free time during the week. I was on a motorcycle adventure (pics).  

Now that I'm back, let's take a look at fresh listings. As usual, no refreshed old stuff and no compromised locations. These are the best the Boulder real estate market has to offer. We'll also discuss a few recent sales to help illustrate market conditions. 

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



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




Sold Listings of Note

1035 5th St | $2.8MM | More Details
After nearly four years on market, this unique glass house sold for a massive $695K below last asking. It was originally priced at $4.25MM.

Take home lessons

1) Never be afraid to offer less than asking, especially when a property has been on the market for an extended period of time.
2) Unique, high-end homes are challenging to price accurately. Comps and qualified buyers are scarce. Doing it right requires a more sophisticated approach than the typical comparable sales analysis. Back when I worked in real estate on Nantucket, we would only price homes after a careful discussion of valuation with some of the town's top brokers. 

3) It can be an amazing experience to watch your dreams become reality, but Mr. Market may not always agree with your perception of value. A good architect (and Realtor) counsels their client on choices that impact future market demand. 


4) The market becomes very thinly traded when you cross the $2MM threshold. Caution is warranted, especially as we near the end of a real estate cycle.  



1013 Berea Dr | $850K | More Details 
Tastefully remodeled, solid location. Possible traffic noise from Broadway. We've sold several homes on this street and the location is desirable. Ranch style homes also make for the easiest platform for future renovations. This sale sets a new market plateau for this style of home and location for early summer 2017.




445 S 38th St | $773K | More Details 
Completely refreshed 6 bed, 4 bath and backing to Martin Park. Another market setting sale. Note: Before you think your dilapidated Martin Acres ranch is worth ~$800K, check out the photos (link above).   








8011 Countryside Pk #219 | $350K | More Details 
Great natural light, open layout and walking distance to the best of downtown Niwot. I've been telling my clients about this little honey pot location for years. On the weekends, it's a short stroll into cute, small-town retail (including two brew pubs) and the 1914 House (highly recommended). During the week, you can get to downtown Boulder or the 30th/Pearl office complexes in minutes. It's a good option for Boulder home owners to lock down for future down sizing. Don't be surprised if my future posts include a disclosure that I've purchased one. I think they're undervalued. This one went for $25K over asking (premium location, some updates). 


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

Fresh Listings

Boulder 

4795 Valhalla Dr | $2.45MM | More Details 
This 5 bed, 5 bath elegant home is in one of those hidden Boulder locations that rarely trade hands. Situated on ~4 acres. Close to Boulder with immense surrounding open space. Private, retreat-like setting. Due diligence: Water rights are critical when you own acreage in Boulder. This one includes a fifth of a share of farmer's ditch.



2919 6th St | $2.1MM | More Details 
Large Newlands family home built in 2006. The location earns an "A", it's only a block from North Boulder Park. Picture perfect, with a classic "Colorado feel." Last listed, but not sold, in 2012. 








824 7th St | $1.49MM | More Details 
Upper Chautauqua bungalow with vaulted ceilings and a massive back porch. Location is the value driver.  Reasonable size, all bedrooms on the main. Smaller lot. 





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



2244 Lee Hill Dr | $1.1MM | More Details 
37 acres to yourself, complete with house on a killer perch. Relatively quick commute into town. Late 80's vintage construction, 3 car garage. Interior could use a refresh (hint: no kitchen or bath photos). Due diligence: Fire mitigation and suppression: You'll want to take a chainsaw to some of those trees to create 100' of defensible space. 


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




4668 18th St | $950K | More Details 
A larger, family friendly home in North Boulder near the Holiday neighborhood. Close to trails and some retail at Uptown. We know this location well and sold the neighbor their home a few years ago. They're an awesome family, by the way. Neighborhood parks make up for the small yard. Nearby early childhood education options are convenient. This part of North Boulder continues to improve. As I recall from when this was last on the market, the floors are a little scratched up. Save some budget for light finish work. 






4786 McKinley Dr | $800K | More Details
Arapahoe Ridge is quiet and full of winding streets with large trees. Lot sizes are larger, which creates more spaciousness and privacy. The city owned park doesn't have the same transient problem as many other Boulder parks. What's that?  Your agent didn't mention the downside of living next to a park? Next time, choose a better Realtor. House has some updates, could use a few more. At this price point, don't expect it will last long. 





805 29th St 503 | $449K | More Details 
A 2 bed, 2 bath in Spanish Towers. This complex is older but close to campus, these rent easily. The loft is a plus. This one might make for a good CU kiddie condo or investment property. Have junior take one side, rent the other to a friend.  Due diligence: Careful HOA review based on conversations with the former HOA manager.  



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



Longmont 


912 5th Ave | $649K | More Details 
Mid-Century Modern, right by the park, not to mention the best of Old Town Longmont. Don't judge the price until you see the extend of the updates and the location. It's right on the park. 






902 5th Ave | $589K | More Details
Historic gem, built in 1905. Close to Roosevelt Park and Main St. Check out that wrap-around front porch. Due diligence: usual historic house issues (foundation, wiring, functionality). A relo company is handling the negotiation, so you've got time to see it and get your offer together (Talk to your Realtor).





818 S Terry St 76 | $285K | More Details 
3 bed, 3 bath townhome in South Longmont for under $300K.  Built in 2005. Cheap HOA. Close to decent retail options (Lucky's!) and walking distance from Sophie's favorite distillery, Still Cellars


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As always, your referrals are deeply appreciated.
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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: Raphael Schaller

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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As always, your referrals are deeply appreciated.
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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

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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As always, your referrals are deeply appreciated.
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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

Tuesday, June 06, 2017

Would You Be My Neighbor? [Coming Soon]

by Osman Parvez
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Heads up.  This 5 bedroom, 2 bath is about to hit the market in Martin Acres.  Lots of updates.  Brand new back lawn with sprinkler system.  Great location on a quieter street.  Priced fairly.  Call me for details.  

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Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

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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. 

Friday, June 02, 2017

Mapleton Hill Eye Candy, Downtown Lock and Leave, and Longmont Gems [Fresh Listings, Get 'Em Hot]


by Osman Parvez
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Summer is finally here and there is no better place to enjoy it than Colorado. Hear that? The mountains and rivers, they're whispering your name. We live here for a reason, but I've got bad news for you. If you're serious about home shopping, forget about your weekend outdoor adventures. We've got houses to see. 

Home buyers have to be ready to drop everything and see fresh listings, especially on the weekends. Although market conditions are changing, there is still very little inventory and the best listing go quickly.  These are the best listings to hit the market this week. 

Pro tip: Property selection is critical to capital preservation. Choose wisely, and your property has less risk of dropping during a down market and will appreciate faster when the market rebounds. Real estate is also cyclical. If your Realtor tells you Boulder real estate only goes up, show them 1824 Pearl Street (below) and find a better Realtor.



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




By the way, we had another awesome closing on Thursday. We found our buyers a spectacular family home in South Boulder, right around the corner from the park. It's a fantastic house, with the buyers paying a great price and with all inspection items addressed (inspection and appraisal rights, retained). It was a gem, hidden in plain sight.  

Market Update: It's true. As you know from reading my posts over the last few weeks, the Boulder real estate market is showing clear evidence of cooling. We're seeing a number of sellers adjust their prices accordingly. I'll post about the most interesting reductions later. This article is about fresh listings worth seeing and notable sales. 


Sold Listings of Note

750 6th St | $1.9MM | More Details 
Flatiron views from multiple locations, perfectly framed from the master bedroom. 6th is a great street, but expect some road noise echoing down from Flagstaff. Chautauqua trails and cultural events are your playground. First listed at $1.95, it went under contract immediately but that buyer later got cold feet. The seller dropped the price and it sold at asking, cash. Just under 3,000 SF and no garage, but a large lot which should be adequate for adding a garage a later date.  

Pro tip: If you're buying at or near the end of a real estate cycle, views and proximity to open space help preserve capital when the market flattens or turns downward. If you're selling, be sure your Realtor vets the buyer carefully. Buyers who tie up and then terminate on flimsy reasons cost time and money. 



5030 Bella Vista Dr | $585K | More Details 
A large, well kept house with decent finishes, in a quiet part of Renaissance. Originally listed at $598K, the seller dropped the price 26 days later. It later sold at a slight discount to asking.  

Renaissance is a good option for buyers who need a larger, newer home, but are priced out of Boulder. It's only about 15-20 minutes away and less than 10 minutes to the Whole Foods in Longmont. Boulder's best cycling routes are nearby. Disclosure:  I own an house in Renaissance, call me to discuss my investment thesis. 


3701 Arapahoe Ave 408 | $500K | More Details 
Turn-key 1 bed, 1 bath unit at the Peloton. Top floor with decent foothill views. Lock and leave.  This sets a new benchmark for 1 bedroom, luxury condos at the Peloton. 

Deal note:  The seller bought in January 2015 for $286K, or a 26.3% unlevered IRR!.  Wow.

By the way, if you're interested in the Peloton, please call me. The developer is releasing units in the two newer buildings as leases expire, and you should compare with alternatives.  I've been tracking this development since it was constructed. 

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

Fresh Listings


Boulder 

720 Mapleton Ave | $3.5MM | More Details 
Eye candy alert!  This is an elegant home on quite possibly the best recognized street in Boulder. 5 beds, 6 baths, and a detached 2 car garage for all of the toys. High end updates throughout.  Showings start today.  





2505 23rd St | $1.9MM | More Details 
Contemporary and modern in the heart of Boulder. Walk to downtown and Whole Foods. Directly adjacent the Alpine-Balsam-Panorama peninsula. Before you write the offer, be sure to compare view vs no view lots. This neighborhood can be tricky to evaluate because of the variability of the views.

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



2370 Kenwood Dr | $1.79MM | More Details 
Originally built in 1980 with an addition in 2000. A large home on a great street in South Boulder. Finishes are dated, save some budget for the remodel. It looks like it has good bones, you might get away with only addressing finishes only - much easier with the ongoing contractor shortage. Vaulted ceilings, trails nearby. 



1824 Pearl St B | $1.09MM | More Details 
The best of Boulder out your front doorstep. Decent finishes and a 1 car garage.  A pretty awesome town home style property, with minimal maintenance.

Market note:  At the bottom of the last cycle in 2009, these units went on a fire-sale (likely bank ordered) and this unit sold for a shockingly low $580K, 55% below the developer's original list price. If you're buying at or near the end of a real estate cycle, property selection is critical if you care about preserving your equity.  Choose wisely and be sure you're working with a Realtor who understands their fiduciary responsibility

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


4404 S Hampton Cir | $1.09MM | More Details 
Spacious home in Four Mile Creek backing to open space. Mostly original finishes, with an updated kitchen. Four Mile has been a very active neighborhood, lately.  In the last few years, it seems that Boulder buyers have discovered that it was under-priced.



2170 Hillsdale Cir | $989K | More Details 
A large ranch in upper Table Mesa, under a million. Interior and exterior need a refresh. 

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



1049 Yale Cir | $785K | More Details 
South Boulder, open ranch with a finished basement. Needs an update. The front yard looks like a handful. 






Lafayette

203 E Cleveland St  | $769K | More Details 
Downtown Lafayette is improving in recent years. This one is a cute and charming historic 5 bedroom. Close to Lafayette Elementary. 

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

Longmont 

327 Pratt St | $898K | More Details 
The best of Old Town Longmont, 3 blocks from Main St. The home is spacious and elegant. If you want Mapleton Hill for prices from 15 years ago, here's your chance.  Many feel that Old Town Longmont is just like Mapleton Hill, before the market took off. 



817 Nelson Park Dr | $419K | More Details 
Southwest Longmont, close to decent retail options. The home itself has a solid level and seems in good condition. Nelson Park is a value play and a great neighborhood.

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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: Filip Mroz