Thursday, April 27, 2017

Sales in Bear Creek [Analyze This]

by Osman Parvez

It's a rainy day in Boulder, a good time for analysis. 

One of the most important pieces of advice we give our clients, both sellers and buyers, is how to understand market conditions for their unique property (or property search criteria). Location is the starting point for the conversation. If you don't know the history of recent sales in the neighborhood, you're going in blind. 

Take a look at the table below. 



You're looking at sales since the beginning of the year for properties within the Bear Creek Elementary footprint.  Why Bear Creek?   Because its one of the highest performing elementary schools in the state when it comes to standardized testing. Homes in Bear Creek are in high demand.  There's also notoriously low inventory - only four homes are currently on the market

The chart is sorted by date of sale. The number of bedrooms and baths are indicated, as well as the total square footage of the property. The type of funding used is shown (cash and a fast closing is a competitive advantage). 

Some observations: 

- There were some early season discounts. Nearly everything that has sold since March has been for asking or higher.    

- Cash is not always king. 1616 Bradley sold for the highest premium, 6.1% over asking. It was a cash deal. 

- The largest discount was for nearly 9% below asking, also cash. Take a look at the listing for 342 Hollyberry and you'll know why. The house was marketed as land, a scrape-off with no interior photos, no floor plans, not even an ILC available for download.  The old listing from 2005 was more informative and at least showed the backyard overlooking open space. The seller grossed $131K over her holding period, before fees, or 1.4% IRR.  Almost certainly a loss in real terms. Show that to your broker the next time they tell you that Boulder real estate only goes up.  Or better yet, find a better Realtor.

note: As anyone who has taken a stats course knows, small sample sizes lead to trouble (i.e. not statistically significant).  Many buyers in Table Mesa would also consider Mesa Elementary schools. 
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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. 

Sunday, April 23, 2017

Ready for Spring Eye Candy?


Spring is here. The tulips are blooming on Pearl Street, cycling routes are busy, and hikers are packing the trails on the weekend.

The Boulder real estate market has swung into full gear, too. Listings are popping up everywhere and buyers are flooding into the market. The most desirable homes disappear quickly. Buyers need to move quick to compete. 

Here's a look at recent notable sales and this week's fresh listings.  



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




Sold Listings of Note

2930 18th St | $2.4MM | More Details 
When this hit the market, I knew it would go fast and likely for a premium. I wasn’t expecting the bidding war to catapult the asking price to 15% over asking. Likely, neither was the developer. Wow. 

Why the premium? Ask anyone who has recently been through the design and permitting process with the city or dealt with the ongoing skilled labor shortage in Boulder. As my old Finance professor used to say, let’s talk about the time value of money.

P.s. Congrats to AQ and his marketing team on a job well done. We’re still overdue for that beer.



2880 Juilliard St | $1.7MM | More Details 
When I took buyers to see this house, it impressed me. After nearly fifteen years in this business, that’s not easy. The upside down layout (living and kitchen on top, bedrooms below) is preferred when a view is possible. The design creates excellent flow from the kitchen through dining and living spaces onto the exterior patio, which boasts breathtaking views. It’s an excellent house for both family living and entertaining. My main question was how to best utilize or reconfigure the home theater. It's also important to understand the risk of the western neighbor expanding upward and blocking some of the view. 



4647 7th St | $1.65MM | More Details 
We represented the buyer of this stunning house and let me tell you, after a year of looking, it checked all the right boxes. Bottom line: It’s hard to find substantial, recently constructed homes in Boulder if you want to be surrounded by open space and enjoy stunning views. 

After seeing virtually every house on the market, the reality is that there isn’t much in this category less than $2MM, within the city limits. If you’re shopping in the $1.2 to $1.8MM range, you’ll more likely find scrape opportunities and face the considerable time and costs of redevelopment - not to mention the associated risks of cost overruns and unexpected delays. 

This beautiful property was a home run and the deal was handled smoothly, from start to finish. It was a pleasure working with Amy Scott, the seller’s agent. I look forward to doing more deals with her in the future. 



114 Huron Ct | $665K | More Details
Greenbelt Meadows is a neighborhood just south of the Boulder Rec Center, surrounded by open space. This one caught our eye because it’s a smaller, less substantial home to one we expect to list soon. Sale points were the conventional layout, vaulted ceiling/open floor plan, updated kitchen, and outdoor living space. This home helps set the floor valuation for the neighborhood (for a smaller home in good condition, with updates).  


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


Fresh Listings

Boulder 

503 Kalmia Ave | $3.2MM | More Details 
A grand, estate quality gated ranch on a generous parcel. West of Broadway and in close proximity to open space. As I’ve written with other high-end properties, the $3MM threshold is a significant inflection point in the Boulder market. At this price and above, buyers should expect property that is completely turn-key, in premier locations, and architecturally compelling. This one fits the bill and is worth seeing. 

Due diligence: Intelligent real estate decisions are based on deep market knowledge. There are only 11 properties currently available in Boulder priced above $3MM and 4 properties under contract.  Meanwhile, there were only 11 market transactions during the past twelve months. Slightly under half sold for a discount to asking. It’s a market of unicorns. Understanding valuation is critical to not overpaying. 



770 Union Ave | $2.195MM | More Details 
Here’s some eye candy for you. The photographs could have been lifted from a modern design home magazine, despite the fact that this home is 6 years old. 5 bedrooms, 5 bathrooms, across 5,800 SQFT. The lot size is decent and the location is excellent, especially the access to open space. 



6177 Olde Stage Rd | $998K | More Details 
I’ll never forget my first listing off Old Stage. It’s such a spectacular location, giving owners a taste of mountain living without the hassle of a long, winding commute into Boulder, and it’s only a few minutes away. This one is set back far enough from the road, has views, and a few updates.  

Due diligence: The usual key areas for mountain property; water, fire defensibility, commute time, and pay attention to the neighbors. 


8272 Kincross Dr | $750K | More Details 
This 4 bedroom, 4 bath is in a nice spot in the neighborhood.  It backs to open space, but the better views are around the corner to the south. It’s a classic mid 70’s two story. Some updates, and some wood paneling for you to replace.   




235 Fox Dr | $720K | More Details 

A nicely updated 3 bed, 3 bath end unit townhome with a two car garage. The location has great access to CU and retail along the bike path, including the ever popular Table Mesa plaza with Lucky’s, Sweet Cow, and the Southern Sun, to name my favorites. The nearby Chancellor’s residence makes for a nice walking or running loop, where I personally run often. This would work well for downsizing owners that want a lock and leave lifestyle, but a reasonable size residence. The seller has put in some thoughtful updates. Adult townhomes are rare in Boulder and often sell quickly. Don’t wait too long to go see it.  

Full disclosure: This is my listing. Contact me at 303.746.6896 for a private showing. 



2880 Sundown Ln 208 | $390K | More Details

Gold Run is on the Boulder Creek path, and has exceptional access to CU, downtown Boulder, and the 29th Street mall. Student density is high (for a reason). 

Before you write an offer, be sure to compare pricing for units with elevator access, garage spaces, and orientation in the complex. Top floor units are vaulted and often have nicer patios.   Historically, these have been strong investments, hence why it’s less than 50% owner occupied, crimping mortgage availability. 

This particular unit is rented just below market at $1550/month with an HOA of $344/month, so not exactly a killer cap rate. The right buyer is probably an end user (i.e. kiddie condo) betting on the property keeping up with inflation for 4-6 years and being a better investment than paying rent during that period.   

Fun fact: The first place I ever lived in Boulder was at Gold Run. I loved how quickly I could bike downtown. I also loved the informal swimming hole at the back entrance to the complex. The clubhouse has a useable gym and other amenities. 


850 20th St 201 | $300K | More Details 
A lock and leave 1 bedroom unit in a well constructed building, just across the street from campus. It’s another smart buy for a CU student condo. This one has some updates. We recently helped an out of state CU mom purchase one of these units for her son, and she's thrilled with her intelligent investment decision. 




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


Louisville 


1235 Kennedy Ave | $978K | More Details 
Just under $1MM for a reasonably sized family home. Backs to Harper Lake open space. Some tasteful updates, a good floorplan with at least one bedroom on the main. 3 car garage for the toys. Original owners (27 years!). 






399 W Elm St | $699K | More Details 
Two on the same street this week. This one is significantly larger and better finished than 366 W Elm, for a higher price point. It’s also 63% larger above grade SQFT. Be sure to see both to understand the valuation.  

Due diligence: Traffic noise on W Pine could be an issue. Visit during peak traffic times to hear for yourself. 




366 W Elm St | $475K | More Details 
The pocket of open space in the middle is one of the best features of this neighborhood, which is why it’s popular with buyers. A decent layout and a sense of space from the neighbors. Clearly some updates needed, but likely a solid choice.  



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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: Melissa Askew

Saturday, April 08, 2017

Boulder Real Estate Eye Candy and Dream Homes in Newlands


Miss us? 

For the past few weeks, we’ve been focused on helping our sellers and buyers execute their investment strategies and achieve their goals. Some are preparing to list. Our focus is to help maximize the market value of their property. Others are looking to find their dream homes but also want to make a smarter real estate decision. Meanwhile, we’re adding new members to our team and preparing to open a new office in North Boulder. 

We’ve been very, very focused on execution. When the blog posts slow down, remember this: Clients first. Blogging second. That’s how we roll with our priorities.  

This week, you won’t be disappointed. A serial Boulder entrepreneur is selling his eye-popping, downtown trophy. A number of updated family homes have also hit the market, some with direct access to open space. Or you can opt for a lock and leave downtown condo.

Are you ready to schedule your showings? Let’s go!




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




Sold Listings of Note

3852 26th St | $1.8MM | More Details
When it first hit the market in early March, we recommended seeing this property. It's a modern interpretation of a farmhouse sited on a generous size lot. It sold for $1.8MM. 


2616 7th St | $1.27MM | More Details 
The seller of this property had two things going for them: a wave of downsizing buyers and a prime location on the edge of the Mapleton Hill Historic District. The mid 90’s updates were also better than the most. A few cosmetic changes and it could be turn key.  


When it made my list a month ago, I warned you it wouldn’t last long. The bidding war drove the price to ~17% over asking. The buyer paid cash. 


4365 Ludlow St | $752K | More Details 
Another small is beautiful story. Two bedrooms and only 850 SQFT on the main, equal size basement with a third bedroom, and one car garage. Finish quality was acceptable but not high-end. The location sealed the deal. 

Sale price: $752,500 or $443/SF, conventional financing (i.e. not cash). 

I took one of my buyers to see it as a potential investment. With only three bedrooms, we couldn’t get the cash flow to reach a reasonable threshold for our investment model. We passed. Likely the buyer is an end-user.  


Fresh Listings


Boulder 

563 Arapahoe Ave | $3.3MM | More Details 
The house nails it. Classic (and historic) on the outside. Updated and modern on the inside. The execution is spectacular and the location doesn’t get much better. 

Due diligence: homeless people sleeping on the nearby creek bank. Thank you, City Council.


512 Hawthorn Ave | $3MM | More Details 
If you’re buying near the $3MM threshold in Boulder, expect beautifully designed homes, updated finishes, and A+ locations. This particular house features classic architecture, is oriented north/south, and is in a very nice part of Newlands. Worth a look but be sure to carefully analyze the market at this price point and location. What's that? Your broker doesn't offer a deep market analysis before advising you on the negotiation? Find a better Realtor.


2366 Powderhorn Ln | $1.65MM | More Details 
The last time I analyzed Devil’s Thumb, the conclusion was that you can predict at least one attractive new listing a month during the peak season. The keys to understanding valuation are location within the neighborhood, orientation, views, and of course the usual factors like layout and finishes. Additionally, the neighborhood has a hidden electrical substation, which impacts some properties along Wildwood. This particular home has some unique aspects that are attractive. It’s not directly on open space but if you’re shopping in this neighborhood, it’s a must see.


4254 S Hampton Cir | $960K | More Details 
Four Mile Creek is a tight knit neighborhood filled with families. This lovely home features 3 bedrooms, 3 baths, and a 3 car garage. Don't expect updates since the home was constructed in the 90’s, but it backs to open space. Note: Split layout isn’t the best for families with younger children, which can impact future resale. That's right, "think of the children."

Heads up: if you’re looking for a smaller home in Four Mile, contact us. We have an upcoming listing that may be of interest. 



726 Pearl St B | $799K | More Details 

This is precisely what Realtors mean when they say “coveted location.” It’s on Pearl, west of 9th Street. It’s also a 2 bedroom, reasonably sized, lock and leave condo. Layout and finishes are reasonable. HOA is cheap. There is a supply shortage of high quality, mid-market attached dwellings in Boulder and little likelihood of inventory expansion in the near future.


4905 Qualla Dr | $695K | More Details 
We’ve already taken our buyers to see this house. It has a solid layout, was reasonably maintained, and it features a beautiful, large backyard. The orientation was also excellent for views of the Flatirons through future remodeling. The only obvious issue was the traffic noise from Foothills, a factor that also impacts parts of Martin Acres and Frasier Meadows. 

Snooze, you lose, it’s now under contract. 



2942 Eagle Way | $449K | More Details 
This unit is clean, well kept, and accurately priced. The kitchen is dated but the rest looks good. Ignore the map. We’ve recently sold a couple units in this complex to happy buyers, and it’s not actually inside the Rite Aid. 


Louisville 

544 Main St | $999K | More Details 
A four bed, four bath family house constructed in the mid 00’s. North/south orientation, on the south end of the historic downtown. The space above the garage looks like it would make a nice studio. 

Due diligence: Check for tolerance to train noise. The tracks are only about a block away.



Lafayette

238 Cheyenne Dr | $800K | More Details
Looking for a large, recently constructed, family house directly adjacent to beautiful open space for $800K? It's not in Boulder but it’s only a short drive away and offers easy access to job centers along US36.  Bonus: 3 car garage holds the toys. 



Longmont 

4502 Portofino Dr | $485K | More Details
This home is in the Renaissance neighborhood, one of our favorite investment locations in Longmont. Great community, easy access to trails, the best cycling routes in north Boulder County, and Whole Foods is minutes away. This house is on a corner lot and it’s priced under $500K. Carpets on the main level are the only obvious detraction.  





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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: Scott Webb

Wednesday, March 29, 2017

Spotted At A Showing

A post shared by HouseEinstein (@house_einstein) on

Friday, March 24, 2017

A Room with a View on Flagstaff, Historic Old Town, and Rare Southwest Style Charmers

Wake up and smell the listings
It's been a busy week: a full schedule of showings every day, late nights writing caffeine-fueled offers, and negotiating back-to-back bidding wars. Meanwhile, I'm doing a deep analysis for a new listing, managing several inspections, and still finding time to meet with new clients.  

I won't apologize for the lateness of this post, but clients always come first

This week: custom mid-century modern homes on Flagstaff mountain, beautiful adobe Southwest-style homes in historic Lafayette, and two exciting options in Old Town Longmont. As usual, no excessively priced or refreshed listings, and no bad locations. These are the best homes to hit the Boulder real estate market this week. 


To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.


Sold Listings of Note


8912 Little Raven Trl, Niwot | $1,596,000 | More Details 
Don't believe the Realtor happy talk. Even priced right, large homes on the outskirts of Boulder take longer to sell and often trade at substantial discounts to asking. Yes, even in this market.  This beautiful home on Raven Trail is a good example. It's well situated in the neighborhood, adjacent to protected open space, and on a large lot. The finishes are classic Colorado; it has a three car garage and a decent floor plan.  It's an attractive property, but it still took 9 months to sell. The final price was $100K lower than the original asking price. Over the ownership period, it generated a 1.9% unlevered IRR.  In other words, this investment essentially kept up with inflation.  Take home lesson: selection and negotiation matter. Choose carefully and buy at the right price. There are a lot of options in certain price ranges and locations, so talk to your real estate advisor.


3860 Colorado Ave E, Boulder | $610,000 | More Details 
Wellman Creek town homes sell quickly and most go for a premium to asking. The location is attractive for CU graduate students and staff, and it should also benefit from the (contested) expansion of CU's South Campus.  Analysis. This particular unit was on the market for 5 days before receiving a full price, non-cash offer.  


Fresh Listings

Boulder 
450 College Ave $3.4MM | More Details 
Located just below the first overlook on Mt. Flagstaff, this custom home was designed to frame city views. A classic example of mid-century modern design, it's a unique property for select buyers. Listing photos don't do it justice. If you're riding Super Flag, it's also cheating. You'll need to head back down and start at the bottom. Due diligence: Although Boulder's market continues to expand at the high end, $3MM+ properties are in a class by themselves.  In this price range, it's a buyer's market (don't believe anyone who tells you differently), but keep in mind few homes offer a location of this caliber. Ask your Realtor for an analysis of $3MM+ homes before writing an offer. Remember, intelligent real estate decisions are based on a deep understanding of market conditions. 

To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.

515 Forest Ave | $2.8MM | More Details 
Last traded for $1.7MM near the bottom of the last real estate cycle in 2008, this large Newlands home is south facing on a typical size lot. Finishes are still current, and the location is minutes from downtown.  

2155 Mead Dr |  $950K | More Details 
Homes in this little pocket neighborhood are so rarely available that when one becomes available, it's a must-see. This moderately sized ranch has some updates and appears to be in good condition. Teller Lake open space access is nearby.

To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.

8323 Larkspur Rd | $935K | More Details 
Tasteful double A frame mountain house, just minutes from Boulder and south of Lefthand Canyon.  5 bedrooms, 4 baths, and a 4 car garage. It features views of the valley below. It also has notable updates since the home was constructed in the late 70's. Due diligence: key considerations for mountain property include water quality, septic system health, winter access, and fire risk. If your agent doesn't mention these factors, find a better Realtor.

3725 Silver Plume Ln | $850K | More Details 
Small is beautiful. Excellent views from this mid 70's tri-level in Table Mesa, but don't expect to expand it. The lot is only 4,066 SQFT. Boulder's best schools. A fast bike ride to the Southern Sun and Lucky's. An option for downsizing or minimalist buyers.

Lafayette
211 W Cannon St | $1.1MM | More Details 
Now for something completely different. Adobe style homes are more common in New Mexico and Texas than Colorado. For those who appreciate their design, there is no alternative. It's classic Southwest. Completed in 2013, this large 4 bedroom, 4 bath is in the heart of historic, downtown Lafayette. If it appeals (and fits your budget), don't wait. You probably won't see another one like it anytime soon. 

To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.


Longmont 
8750 Portico Ln |$1.3MM | More Details 
Minutes from Google's new campus, with nearby trails and open space, on Boulder's best road cycling routes. Completed in 2011, this not too large home features contemporary finishes and a 4 car garage. Due diligence: There are several high-end enclave neighborhoods between Boulder and Longmont. Consider options in Niwot and Lake Valley before writing your offer.   

611 Grant St | $989K | More Details 
A large, family friendly home with wrap-around porch and a 2 car garage in historic Old Town Longmont. It may look historic, but it's not. Construction dates from 2002.   Note:  Old Town is one of three locations in Longmont where I would personally live and invest.  

To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.

219 Pratt St | $385K | More Details 
Old Town Longmont for under $400K?  Of course the finishes are dated, so bring your imagination, your DIY skills, and your negotiation strategy. 3 bedrooms, 2 baths, and small barn. Expect multiple offers. 

1544 Renaissance Dr | $375K | More Details 
A large 2 bed, 3 bath town home in Renaissance. Long time blog readers know I'm a believer in this location for its easy access to Boulder, open space, trails, and cycling routes. Whole Foods is nearby, the retail mix continues to improve, and the HOA is relatively inexpensive.  This one is an end unit with views and worth a look. 

To schedule a private showing, which includes a discussion of valuation, market risk, and intelligent real estate investing, call Osman at 303.746.6896.
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Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.

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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.

Friday, March 17, 2017

The Perfect Boulder Bachelor Pad, Loads of Eye Candy, and Managing Risk in Niwot


Phew, it's been a busy week! I've taken buyers to see over 30 listings, everything from eye popping mountain trophy homes to entry level condos. Two late night offers also resulted in two sets of clients happily under contract. It was hard to find time to review the fresh listings, but it's the only way to stay on top of the market. Remember, intelligent real estate decisions are based on a deep understanding of market conditions. There is no substitute.  

Good news. There's a lot of real estate to consider this week. As usual, I've culled the bad locations, the refreshed old listings, and the obviously overpriced homes from the list. I've also included a more thorough discussion on last week's notable sales. 

This week: A modern, turn key North Boulder home (you just missed). Also family homes of all sorts in Boulder, Louisville, and Longmont. Plus the perfect Google employee bachelor/bachelorette pad.


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


Sold Listings of Note


1301 Canyon Blvd #304 | Sold: $2.19MM | More Details 
This high-end condo was on the market for only a week. High-end condos in downtown Boulder aren't rare, but few offer the critical south facing view of the flatirons. Although the views aren't as spectacular at One Boulder Plaza compared with say, The Arette, this particular unit is generously sized at ~2,500SQFT or $862/SF. It sold for 2.7% below asking, about right. 

2065 Alpine Dr | Sold: $1.79MM  | More Details 
When it first hit the market, I took two different sets of buyers to see this renovated mid 1950's ranch with a full basement. We concluded it was well executed, but would never reach the trophy level of the immediate neighbors on the exclusive Alpine-Balsalm-Panorama peninsula. It also didn't have the view potential. We didn't think it would garner a bidding war. We were wrong. It sold for 15% over asking, cash. Yes, I'm scratching my head. Perhaps one of the trophy home owners on the street had to have a guest house. 

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

7100 Quiet Retreat Ct | Sold $1.17MM | More Details
Niwot is filled with large, luxurious high-end homes, many built in the late 90's and 2000's. Some are spectacular, others are in need of a complete renovation. It's a great location with easy access to Boulder and its own charming historic downtown area.  

When shopping in Niwot, it's important for buyers to understand that (a) $1MM+ homes typically trade a discount and (b) they may not appreciate over even a long holding period. To reduce the risk of loss, and to increase future liquidity, it's important to choose the right house and buy it at the right price. To point, for $1MM+ homes, there were 24 sold listings and 20 failed listings last year in Niwot.  Right now, there are only 4 listings under contract and 14 available

Yes, Greg. I wrote that for you.


2030 17th | Sold: $1.15MM | More Details 
A slightly larger than typical ranch with a full basement on a slightly larger than typical lot in North Boulder. Finishes were new. Quality was high. East/west orientation. Decent street. This sets a bar for what's possible without square footage expansion, both from a design and value perspective. A good benchmark. It took a little longer than usual to sell and came out of contract twice before the deal was sealed. Sold for asking. Back of the envelope return was probably at least 15%-20%, depending on the owner's ability to control cost during the renovation (they paid $700K in 2014). 


4524 14th 7-H | Sold: $795K | More Details 
A nice 2 bed, 3 bath condo with ~1,700SQFT that sold for asking at Uptown Broadway. This one has Flatiron views. Full disclosure: I'm an owner at Uptown, have advised many buyers and sellers in the development, and will be opening our office at Uptown this summer. I'm a believer in the investment thesis. Due diligence: Pending litigation over the defective stucco and the risk of capital assessments. 


912 6th Ave | Sold: $648K | More Details 
A classic 3 bed, 3 bath historic home with newer finishes in Old Town, Longmont. Prices have been rising rapidly here. Some say it's the new Mapleton Hill - minus the drunk and high college kids. With foodie restaurants and a vibrant downtown, Old Town is a neighborhood to watch as Longmont moves forward with its revitalization plans. 

Fresh Listings

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

Boulder 

2930 18th St | Asking: $2.1MM | More Details 
Snooze you lose. Listed mid-week and under contract three days later. Freshly renovated, modern homes are in short supply and intense demand in Boulder.  This is why you work with a buyer's agent. Click the link for eye-candy. 

1444 White Hawk Ranch Dr | $1.95MM | More Details 
Haven't heard of White Hawk Ranch? 


It's an enclave of high end homes, adjoining farm land, in east Boulder, off Arapahoe Ave. Built in the early 2000's, it's a newer neighborhood but it has some of the same challenges of higher end homes in Niwot.  See the statistics on 7,100 Quiet Retreat above. This particular home has +7,500SQFT of finished space, beautiful finishes, a great layout, and a four car garage for all the toys. If you were to attempt to build a similar home today, construction costs would easily exceed this price - if Boulder allowed you to do it all.  

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

2958 6th St | $1.8MM | More Details 
The seller has only had this home 5 months (they paid $1.6MM), which is why it's a surprise to see it return to market. Reasonably sized with three bedrooms, four baths, and a two car garage. Historic and charming, with a real rocky mountain feel to the finishes. It's in a nice spot in Newlands and has partial views.  Worth a look. 

2960 6th St | $1.7MM | More Details 
Like things square? You'll like this renovation. It's boxes on boxes that contain 4 bedrooms, 3 baths over 3 stories built on the frame of a 1950's ranch. On a small lot in a very desirable part of Newlands, it's very modern and tasteful, with transom windows and other design features to highlight the partial views. 

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

1985 Bluebell Ave | $1.5MM | More Details 
This is one of my favorite spots in Boulder, with great access to Chautauqua open space and a short bike ride downtown. This mid 50's house is on a larger than typical lot, with potential for future expansion and renovation (check with the planning department for hidden restrictions). The majority of its bedrooms are on the main level. Finish quality appears acceptable. Although the Baseline plaza recently lost its Whole Foods, surely something interesting will take its place. Worth a look. Due diligence: Check the new flood maps. The old one shows the lot just missing the 100 year flood zone. 

1590 Quince Ave | $800K | More DetailsExterior finish needs a refresh on this 4 bed, 3 bath ranch in North Boulder. Vaulted ceilings create a sense of spaciousness. With a modest budget for steel I-beams, perhaps the kitchen could be opened up similar to 2030 17th (see above). A decent size north/south oriented lot, late 70's construction and a two car garage complete the picture. Quince is a little busy but this should still go pretty quick. 

275 Pearl St #13 | $725K | More Details
A decent size two bedroom on one of the most iconic streets of Boulder, a few blocks from downtown and steps from open space and city parks. Mid 80's construction means you're past the era of lead based paint and likely asbestos, too. The value is almost entirely about the location.

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

2910 Bluff St #124 | $413K | More Details
A few years ago, I did an analysis comparing one and two bedroom condo investment performance in Boulder. The analysis showed that they appreciate at about the same rate, but one bedroom properties take longer to sell and have fewer potential tenants. They still make for very desirable investments and living situations, especially when they are as well situated as this one. This condo is only about a decade old, too, with views. Google's campus being practically next door surely doesn't hurt, either. It's a perfect young professional, bachelor or bachelorette pad. Another one that will likely garner a bidding war. 


3293 Madison S-104 | $350K | More Details
Wimbledon units make for nice living for CU students, graduate and undergraduate. They also make nice investments for parents and others. This one isn't particularly remarkable but does serve as a comparison point with my last analysis on the complex


Louisville 

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

675 Tamarisk Ct | $750K | More Details 
An early 90's family house, moderately sized, with four bedrooms and a two car garage. It's south facing with open space access at the end of the cul-de-sac.  Shouldn't last long on the market. Don't wait to go see it and prepare for a bidding war. 

286 S Taft Ct #75 | $328K | More Details
A solid choice for entry into real estate or downsizing. This 2 bed, 2 bath is in a decent location with easy commuting to Boulder or the tech corridor along US 36.  Early 80's construction appears to have held up well. Although it's under 1,000 SF, the layout should work well for roommates or a bedroom/office combo. Lounge at the pool during the summer. HOA is only $200/month. 

Longmont 

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

834 Confidence Dr | $945K | More Details 
In the center of Longmont's hippest neighborhood. 15 years after construction, this 4 bed, 4 bath home's design largely stands the test of time. It's also a value play compared to your move-in ready options (or wait time) for the new build at Prospect's expansion.  

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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: Olivier Guillard